BUDGET TECH STARTUPS
Budget 2024: Don't hold your breath, electrify!
India's air quality crisis demands immediate action with a focus on energy and transportation sector reforms. Accelerating EV adoption is vital to lower pollution levels and decrease oil dependence. Transitioning to electric vehicles presents significant economic opportunities and job prospects. The future of India's environment hinges on these crucial decisions.
ET Explainer: What is angel tax and why has DPIIT sought its removal?
Angel tax refers to the income tax levied by the government on funding raised by unlisted companies, or startups, if their valuation exceeds the company's fair market value. Angel tax was first introduced in the 2012 Union Budget by then finance minister Pranab Mukherjee under the UPA-II regime to arrest the laundering of funds.
Forgot Modi stocks? Numbers indicate don't write them off. 26 are already back. Budget tailwinds may bring more of them back to limelight again
Just before the election results were announced, some domestic and foreign brokerages came out with a report about a set of stocks which were called Modi stocks. The number varied from 50 to 55 stocks. The reason why they were called modi stocks was the fact that these stocks were from sectors which were expected to get renewed policy push once the third term of the Modi government started. This list had stocks which would power data centers, which is essentially an AI play to green energy stock to PSU stocks from sectors which were getting strong policy push. But then political arithmetic turned different and everybody forgot about them. One month later, if one looks at them, it is clear that while the term “ Modi stocks” might be off the headline, in terms of performance, the picture is very different from what most have been thinking. It is far better and there is a high probability that it might get better.
Chorus grows for angel tax repeal; policy push for EVs
Startup Inc’s calls to do away with angel tax have found support from the government. This and more in today’s ETtech Top 5.
Focus on agriculture sector in Budget 2024 as it can generate employment: PHDCCI
Budget expectations: In its pre-Budget recommendations to the Finance Ministry, PHD Chamber of Commerce and Industry (PHDCCI) emphasized focusing on the agriculture sector as a vital employment generator. With a significant portion of India's workforce in agriculture, PHDCCI advocates for boosting rural infrastructure, increasing public and private investments, and reducing post-harvest losses.
Budget-day release for FAME-III; Indian VCs need to pivot
Measures to boost the sale of electric vehicles are likely to be announced in the upcoming budget. this and more on today’s ETtech Top 5.
- Go To Page 1
Commerce Ministry may seek more funds for startups in forthcoming Budget
The Commerce and Industry Ministry plans to request additional funds for startups in the upcoming Budget to boost innovation. A new scheme may replace the current seed fund program, set to conclude in 2025. The government aims to support early-stage entrepreneurs and promote deep tech startups to address societal challenges.
IPO-bound cos wary after poll results; NBFCs’ balancing act
Happy Friday! New-age firms planning to go public are moving cautiously as stock market volatility remains a concern after the 2024 general election results. This and more in today’s ETtech Morning Dispatch.
Deep tech startup policy likely in forthcoming Budget
The new government may announce the full Budget for 2024-25 in July. An official said that startups have to convert their innovation into intellectual property rights and for that extensive R&D is required.
Deep tech startup policy likely in forthcoming Budget
The commerce and industry ministry may propose a dedicated policy for deep tech startups in the forthcoming Budget, to be announced by the new government. The policy, in final stages, aims to promote innovation and R&D. Voting for the Lok Sabha polls is over, with results on June 4 and a new government taking oath this month.
Vivek Bindra announces program for 100 selected startups to help them become IPO-ready
The number of startups in India has surged from 400 in 2016 to approximately 1.14 lakh. To promote startups Vivek Bindra has announced a program to aid startups in achieving IPO listings. With support spanning funding, technology, and marketing for 30 months, the initiative aims to propel 100 selected companies towards IPO readiness.
Quick commerce 2.0, and other top tech & startup stories this week
Quick commerce, the buzziest sector in the consumer internet industry, is undergoing a significant transformation. We, at ETtech, have been tracking the sector super closely and bringing the biggest and most impactful stories to you, first.
South side story: Can attractive sops turn Chennai into a hub for GCCs?
Can a slew of attractive sops from the state government and a competitive workforce turn Chennai into a hub for GCCs, positioning the state as a healthy alternative to Bengaluru and Hyderabad? In addition to banks and automotive firms, manufacturing, pharma, tech and product companies in the fintech space are considering setting up GCCs in Chennai.
Retailers to continue hiring in 2024, focus on tier 2, 3 cities : Report
In 2024, retail jobs surge with the operationalization of brands expanding from 2023, driving demand by 15-20%. E-commerce, despite startup leadership, faces hiring challenges. Logistics saw a dip. Retailers target fresh grads (52%) and experienced pros (38%). Tech adoption, sustainability, and skill development are key industry trends amid exponential e-commerce growth.
Fat packages for tech interns; Google's search for data centre land
At IIT Mandi, 27 students have received stipends of Rs 1 lakh or more this year. In Bengaluru, RV College of Engineering has seen 39 students getting over Rs 1 lakh in monthly stipends compared to 8 last year. Around 30 students at Vellore Institute of Technology have also bagged Rs 1-lakh stipends, with companies like Couchbase and Amazon offering Rs 1.2 lakh and Rs 1.1 lakh, respectively.
Indian SaaS products to corner 8% global market share by 2028: report
According to a latest report from advisory firm 1Lattice and venture investor Sorin Investments, the Indian SaaS market is also expected to touch $37 billion in market size by 2028, from $12 billion presently.
The week that was: Hope and despair on Startup St., and other top tech stories
But if there’s one thing that has come to the fore this week, it's compliance and governance issues at startups. When companies are in the nascent stage they can get lax on setting up internal controls, but once you scale it becomes a different proposition altogether.
Budget speech mention of deeptech leaves industry wanting more
Industry participants, investors and founders alike, expressed enthusiasm for the potential scheme’s push to the deeptech startup ecosystem that has seen the likes of Ideaforge, Tonbo Imaging and PierSight – across stages of maturity that have defence-led applications.
Budget 2024: New scheme for deep tech for defence sector, corpus for R&D
A new scheme has been announced to encourage the development of deep tech for the defence sector, along with a ₹1 lakh crore corpus for long-term interest-free financing. This scheme aims to provide startups and established players with access to testing and validation facilities, guidance from the armed forces, and long-term interest-free loans to develop weapon systems.
Budget 2024: Tax holiday for startups, sovereign funds extended by 1 year
The tax holiday scheme for startups, announced for the first time in the Union Budget 2017, offers 100% tax rebate to eligible startups on profits made for a period of three years in a total time frame of 10 years of operations. The government has been extending the benefits for one year in every budget since then.
Budget 2024: Key takeaways for tech and startup sectors
In her Budget speech, finance minister Nirmala Sitharaman announced a slew of policy measures, including a corpus of Rs 1 lakh crore with a 50-year interest-free loan and a new scheme to strengthen deeptech for the defence sector.
Budget 2024: Startup community seeks diversification to smaller cities, tax incentives
Encouraging entrepreneurship in smaller cities can yield solutions tailored to niche sectoral or geographical challenges.
Budget should speed up technology initiatives across all Government departments
As we eagerly anticipate budget specifics, the tech startup industry hopes for policy decisions that will determine the country's innovative future.
Budget: Industry seeks tax incentives, more funds to boost manufacturing, green tech, exports
"We remitted over USD 80 billion as transport service charge in 2021. As the country moves towards the goal of USD 1 trillion, this will touch USD 200 billion by 2030," Federation of Indian Export Organisations (FIEO) said, adding that the private sector may be engaged to develop the shipping lines.
Budget booster for EVs; QR frauds spike
The government could set aside Rs 10,000-12,000 crore for the third installment of the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme.
Rural startups seek improved supply chain, better infra, easier access to funds
With the Budget and the Lok Sabha elections drawing closer, startups working in various sectors, especially in smaller towns and villages, said they expect the government to look at various teething issues, even as their "overall performance has improved owing to various policy changes in the past couple of years".
Top Golden Visa programs for investors to consider in 2024
Many investors who want to diversify their holdings, gain access to new markets, improve their quality of life, or obtain a second citizenship find these programmes appealing. But not every programme offering golden visas is made equal. Certain programmes may provide greater advantages and benefits than others, depending on the investor's aims, preferences, and profile.
Is the funding winter finally ending? Startup salaries cool as tech talent war settles
Approximately 46% of the participating startup founders noted a decrease in employee turnover over the last year, signaling an improvement in retention rates. Moreover, 50% of the founders observed that hiring for tech roles has become more straightforward, attributing this trend to the moderation of tech salaries.
Going vocal with local on LLMs; and other top tech, startup stories this week
While tech biggies including Microsoft, Google, and Meta are leading the charge on AI, more localised contingents are emerging across geographies, including in India and the European Union.
Load More
