The UK-based Global Innovation Fund, which invests in innovations targeted at improving the lives of the poorest people in developing countries, has pumped in millions to back an Indian farm mechanisation project. EM3 AgriServices, India's leading private sector farm mechanisation services company, has raised a $10 million Series B round from London-based Global Innovation Fund (GIF) and existing investor Aspada. The company had earlier raised a $3.3 million Series A from Aspada in June 2015. EM3 AgriServices is India's first [...]
Re-skilling and up-skilling must go hand-in-hand with tech advances in India, writes a digital expert.
Last month, the lead singer of 70s band Talking Heads, David Byrne, wrote in the ‘MIT Technology Review’ about how tech is eliminating humans. With AI, autonomous vehicles, robots, automated self-service check-outs, and lots more, he says the art of human interaction will die away, since there will be no humans doing the traditional jobs of serving customers. But what does that mean for India, where there are over a billion people: if tech will replace all the manual jobs that give people a daily living, what will they do?
Corporate social responsibility (CSR) observers weigh up how CSR in India is different from the rest of the world.
A majority of Fortune 500 companies have a base in India and according to a Bain analysis report, between 1991 and 2012, the number of MNCs in India more than quadrupled. And over 20 years, total MNC revenue grew at a compound annual rate of 18 per cent — faster than the overall economy.
The man behind a unique social enterprise initiative bringing together young talent from the UK and India explains what Modual: Mumbai is all about.
I’m writing this from day three of the Modual: Mumbai workshop. Already the ideas are flowing through a cultural collaboration that has exploded into more energy than even we experienced Modual-ers had anticipated.
Indian start-ups get FDI policy boost
A new consolidated foreign direct investment (FDI) policy framework issued by the Indian government this week includes provisions specific to start-ups which is being seen as a major boost for the sector.
According to the 2017 FDI policy document released by the Department of Industrial Policy and Promotion (DIPP), start-ups in India can raise up to 100 per cent of funds from Foreign Venture Capital Investors (FVCIs). They can issue equity or equity-linked instruments or debt instruments to FVCIs against the receipt of foreign remittance.
The document reads: "Startups can issue convertible notes to persons resident outside India (subject to certain conditions).
“A start-up engaged in a sector where foreign investment requires government approval may issue convertible notes to a non-resident only with approval of the government."
Foreign residents, except those in Pakistan and Bangladesh, will be permitted to purchase convertible notes issued by an Indian start-up.
The Indian Prime Minister’s Housing for All initiative has got off to a slow start but latest trends provide hope for a rapid ramp-up. Of all the flagship schemes undertaken by the Narendra Modi government, the Housing for All programme, which envisages providing pucca (brick and mortar) houses for 20 million Indians by 2022, is, arguably, the most evocative and the one most likely to make a dramatic difference to the lives of millions of poor Indians. After a relatively [...]
A consortium of 12 British and Indian universities led by Swansea University in Wales has won £7 million of UK government funding to build five self-sufficient solar-powered buildings in remote Indian villages. A new solar project, called SUNRISE, will develop printed photovoltaic cells and new manufacturing processes which can be used to construct solar energy products in India. These will then be integrated into buildings in at least five villages of India, allowing them to harness solar power to provide their own energy and run off grid. The programme is part of [...]