Modi’s expectations may not have been fulfilled in the Union budget, but finance minister Nirmala Sitharaman announced several incentives to unleash the “entrepreneurial spirit” among startups. The announcement that probably brought the biggest relief to the sector was that startups and their investors who provide requisite documents will not be subject to angel tax assessment. “Funds raised by startups will not require any kind of scrutiny from the income tax department,” Sitharaman said.

Publication : Mint

Date : July 5, 2019

A vibrant start-up ecosystem in the country is primarily led by business-to-consumer (B2C) companies focused on easing public service delivery and driving efficiencies in various sectors, which is reflected in the fact that private funding received by such firms are nearly double of that by those operating in the business-to-business (B2B) space, the Economic Survey said. While B2B start-ups raised close to $1 billion in funding in 2014, managing to shore it up to about $3.5 billion in 2018, B2C start-ups received close to $8 billion funding last year, a significant rise from over $4 billion it attracted in 2014.

Publication: Financial Express

Date: July 5, 2019

Merchants from India saw an increase of four per cent in e-commerce sale on international marketplaces in the first quarter of this year compared to the previous quarter, says a new report. Sales from India were up 121 per cent on year-on-year basis, according to the Global Seller Index report from Payoneer, a leading cross-border payment platform. The top-10 countries in terms of sales on international marketplaces have stayed the same since last quarter. However, both India and Japan moved up one spot, reaching the number six and eight slots, respectively.

Publication: Economic Times

Date: July 4, 2019