Ever wondered how daily supplies or consumer goods reach the villages and talukas of rural India from the industrial towns and manufacturing hubs? Sharath Chandangoudar and Amit Akkihal did. So they studied the market for last-mile delivery in rural India, identified the stakeholders and the bottlenecks, and founded Tusker Transport in 2019, an intra-regional B2B […]
The Union mines ministry is considering a proposal to exclude royalty and other levies from the average sale price (ASP) of non-coal minerals such as iron ore, limestone and bauxite to encourage investments in the sector. The idea is to avoid cascading of taxes, that is levy of tax on tax. Royalty is currently being […]
Payment solutions start-up, PayGlocal has raised $12 million in its Series B funding round, co-led by Tiger Global and Sequoia Capital India, it announced on Saturday. The company plans to use these funds to scale its cross-border merchant payments solution and hire more people. PayGlocal enables merchants to accept and collect payments from customers outside […]
L&T Construction & Mining Machinery and Komatsu India are looking for steady supplies of high-quality biodiesel to enable quicker biodiesel adoption in the construction and mining equipment space. India’s construction segment, according to Economic Survey of India estimates , has grown by 10.7% in FY 22 and touched the pre-pandemic level. The UN report of […]
By Raghavendra Kamath The Reserve Bank of India has been increasing key rates to tackle inflation which has led to mortgage rates going up. Despite this, Anshuman Magazine, chairman and chief executive, India, South East Asia, Middle East, Africa, at global property consultancy firm CBRE, tells Raghavendra Kamath that home sales would see a strong momentum in FY23 […]
India’s finished steel exports is expected to drop by a quarter in the current fiscal on imposition of export duty on such products with effect from May 22, rating agency ICRA said on Thursday, revising industry’s outlook to ‘stable’ from ‘positive’ earlier. “The government’s recent announcement of 15% export duty on various finished steel products […]
Climate-smart deep-tech startup Ecozen on Thursday raised Rs 54 crore in additional funding as the first tranche of a planned Rs 200-crore Series C round. The new funding round was led by Dare Ventures, the venture capital arm of Coromandel International, with participation from existing investors Caspian and Hivos-Triodos Fonds (managed by Triodos Investment Management) […]
GE Energy Financial Services (GE EFS) on Wednesday said it has bought a 49% stake in Continuum Green Energy’s 148.5 MW Morjar onshore wind project in Gujarat for an undisclosed amount. Continuum Green Energy is majority owned by global infrastructure fund managed by Morgan Stanley Infrastructure. Morgan Stanley, which owns an over 85% stake in […]
Easy Pay, the digital payments platform, is in talks to raise close to $25 million in its Series A round at a valuation north of $250 million, its newly-appointed chief executive officer and co-founder Vaibhav Joshi told FE. He added that there is a “keen interest” from a host of investment bankers, including at least […]
The base price of 5G spectrum would result in a further deepening of telecom operators’ debts, even with a low upfront payment, as the industry expected to shell out about Rs 1-1.1 trillion in the upcoming auctions. The operators are of the opinion that reserve prices are on the higher side, and the industry’s debt […]