Chaffing at the bit at what it considers abuse of its market dominance by Google, Vijay Shekhar Sharma has launched a mini app store and plans to take on board one million apps by 2022. This could open the floodgates for Indian apps to grow in size and reach global scale soon.
The Google Doodle for September 24 celebrates the 80th birthday of the trailblazing Indian swimmer Arati Saha. Illustrated by fellow Kolkata native and Google guest artist, Lavanya Naidu, the Doodle depicts the awe-inspiring 67 kilometres Saha covered from Cape Gris Nez in France to Sandgate in England on September 29, 1959.
Google will combine its Nest services and devices with ADT’s security solutions to offer more secured devices.
The tech giant will build a ‘differentiated partner strategy’ in the cloud space. Google will invest in people and partnership to acquire a large share of Indian cloud market. The company said in a report that it will leverage its advantage as a data company and deploy technology as the key differentiator with expertise in AI and machine learning. Karan Bajwa, Managing Director, Google India, said: “Google is hiring great talent and putting the right people in front of the [...]
India’s Draft E-Commerce Policy has set off a fierce debate in India about discounts, control and, most importantly, data security. The Indian government is reworking the Draft E-commerce Policy it had released earlier following criticism mainly from foreign players and several independent analysts. In particular, the draft drew criticism for its alleged bias in favour of protectionism and for making the domestic RuPay card, promoted by the National Payments Corporation of India (NPCI), the mandatory payments gateway. It had also [...]
The Chief Minister of Andhra Pradesh was in the UK recently to convince investors to choose his state for their new business ventures. Andhra Pradesh Chief Minister N. Chandrababu Naidu made a plea for investors in the UK to invest in his state and participate in building Amaravati into "one of the best capitals in the world". Addressing a gathering of entrepreneurs and business chiefs after accepting his Golden Peacock Award for Leadership in Public Life and Economic Transformation from the Institute [...]
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.