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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102633) | |
21961. Huge opportunity for Indian SaaS companies make investors bullish
- The two-day event that was held on the outskirts of Chennai saw more than 500 companies and over 50 investors attending the event and was sponsored by VC firms like Tiger Global, Accel, and Sequoia.
- Investors too are bullish and willing to back these companies owing to the existence of a 'repeatable model,' capacity to scale up and high gross margins. Vinod Muthukrishnan, co-founder of Cloudcherry went on to explain that what makes these numbers significant is that SaaS revenue is 80% gross margin. "This is the foundation of unbelievably profitable, almost cash printing companies in the long run. Not just $10 billion where $9.9 billion is cost."
- Vinod Muthukrishnan, co-founder of Cloudcherry went on to explain that what makes these numbers significant is that SaaS revenue is 80% gross margin. "This is the foundation of unbelievably profitable, almost cash printing companies in the long run. Not just $10 billion where $9.9 billion is cost." "India's share in the global SaaS market is only 2.6%. But in 5 years, it is going to triple and be 8%," said Suresh Sambandam, Founder of KissFlow.
21962. C&S acquisition aimed at making India exports hub
- Siemens India has announced its biggest acquisition in India — electrical and electronics equipment maker C&S Electric.
- "The buyout is intended to pave the way for establishing a design and manufacturing hub that will support exports to fast-developing markets globally".
- We are looking at both organic and inorganic growth". "We have a two-pronged approach To serve the Indian market Support the global business of Siemens by sourcing the maximum possible out of India"
21963. Northern Arc Investments gets $23 million from overseas investors
- The fund targets an overall corpus of $100 million including a green shoe of $50 million. This is the firm’s first fund targeting international investors.
- Northern Arc Investments, the alternative investment arm of Northern Arc Capital, has mobilised $23 million from overseas investors as part of first tranche of a $100 million debt fund targeted to invest in microfinance, small business finance, vehicle finance and agri-business finance.
- The firm announced that PG Impact Investments, a global impact investment firm backed by global private markets investment manager Partners Group, the Netherland's Anthos Fund & Asset Management and the US-based Calvert Impact Capital have invested in it to mark its first close.
21964. Infosys, Qualcomm partner for smart cities solutions
- The solutions build upon the software vendor's proprietary framework for smart spaces as it offers features for building and resource management, physical assets management and occupants' safety and security.
- Software major Infosys said it was partnering with US-based chip maker Qualcomm to offer smart cities solutions through the latter's accelerator programme.
- "We have joined the Qualcomm smart cities accelerator programme to offer solutions for smart stadiums, smart venues and smart event management," said the city-based IT major in a statement here.
21965. Assam: Minister Sanjay Kishan rolls out Micro Finance Relief Scheme in Lakhimpur
- Minister for Labour and Employment and Welfare of Tea Tribes Sanjoy Kishan on Sunday gave away cheques as financial support to women borrowers who took loans from microfinance institutions in North Lakhimpur.
- At a function organized by the district administration at Tyagkshetra in North Lakhimpur, Minister Kishan, who is the Guardian Minister of Lakhimpur, gave away cheques to some selected women borrowers under Category I of the Assam Micro Finance Incentive and Relief Scheme 2021 (AMFIRS).
- A total of 5000 out of 21710 women beneficiaries from Lakhimpurdistrict were distributed cheques at the function.
Click here to find 219 similar incidents of North East India -> Developments in North East India
21966. Tripura to get National Law University soon
- According to a top official of the Tripura education department, a bill seeking the creation of the university will be tabled in the next assembly session of Tripura. As per the official, the academic activities for the university are expected to take place in the Tripura Judicial Academy building for the next academic session.
- A committee comprising state government representatives, judges of Tripura High Court, and legal experts will be constituted to suggest the process for appointment of chancellor, vice-chancellor, and faculty members. The panel will also finalise the courses to be offered,” minister Nath said.
- The state government will focus on making the institute of national importance in producing quality lawyers.
Click here to find 219 similar incidents of North East India -> Developments in North East India
21967. J-K's handicrafts industry reviving with govt efforts.
- Handicrafts are making a comeback in Jammu and Kashmir, thanks to the government's efforts over the last two years to breathe fresh life into the traditional arts and crafts that have long been a part of the Himalayan region's culture.
- Jammu and Kashmir, an Indian Union Territory (UT) is a popular tourist destination.Following the devastation caused by Pakistan backed terrorism in J-K, this essential industry, which employed thousands of people, took the brunt of the fighting.The handicrafts industry was damaged but now with the efforts put in by the government, the industry is reviving.
- New Delhi sanctioned Rs 2 crore for the procurement of Pashmina for artisans and weavers following which the J-K government directed the Small Scale Industries Development Corporation Limited (SICOP), reported Saudi Gazette.Also, in August 2021, the J-K government unveiled the 'Karkhandar' (entrepreneurs) scheme to give a fresh lease of life to the craft scene in Jammu and Kashmir and especially to the languishing crafts.
21968. Jammu And Kashmir to Complete All Ongoing Tourism Projects by March-end
- Jammu And Kashmir Chief Secretary (CS) have set the deadline of march end to complete all the ongoing projects of the department in the union territory as per the officials. CS also said that all 582 works that were targeted to complete last year should be completed within time.
- Saying tourism has great capacity to create large-scale employment of diverse kind, Mehta asked the department to look for complementarities and synergies with other departments to generate economic activity and create productive jobs in the sector.
- The officials said that while 224 projects under capex have been completed so far, out of 122 under the Prime Minister Development Programme (PMDP), 94 have been completed and the remaining 28 will be completed as per the set timelines.
21969. सात हजार करोड़ से बेहतर हो रहा है जम्मू कश्मीर का स्वास्थ्य, चार सौ से अधिक परियोजनाओं का हो रहा है काम
- कोविड महामारी की चुनौती के बीच जम्मू-कश्मीर में स्वास्थ्य देखभाल ढांचे में सुधार हो रहा है। सरकार का दावा है कि जम्मू और कश्मीर में चिकित्सा बुनियादी ढांचे को मजबूत करने के लिए, 7177 करोड़ की लागत से 400 से अधिक स्वास्थ्य परियोजनाएं चल रही है।
- इनमें 4000 करोड़ रुपयों की अनुमानित लागत से बन रहे दो एम्स भी शामिल हैं। स्वास्थ्य विभाग के अनुसार 1595 करोड़ की लागत से बन रहे सात मेडिकल कालेज, 60 करोड़ रुपये की अनुमानित लागत से दस नए नर्सिंग कॉलेज स्थापित किए जा रहे हैं। वहीं 240 करोड़ की लागत से दो राज्य कैंसर संस्थान भी बनाए जा रहे हैं।
- जम्मू-कश्मीर में डाक्टरों की कमी को पूरा करने के लिए पांच मेडिकल कालेज नए खुले हैं जबकि ऊधमपुर और हंदवाड़ाा में भी अगले सत्र से कालेज खोले जाने की तैयारी है। एमबीबीएस की कुल 500 सीटें बढ़ी जिनमें 85 सीटें आर्थिक रूप से कमजोर वगों के लिए हैं। जीएमसी के सहायक सभी जिला अस्पतालों की क्षमता 300 से बढ़ाकर 500 की जा रही है। विशेषज्ञ डाक्टरों की कमी को पूरा करने के लिए मेडिकल कालेजों व जिला अस्पतालों में नेशनल बोर्ड कोर्स शुरू किए गए।
21970. How fish and poultry startup FreshToHome reached EBITDA profitability in Bengaluru and Delhi
- Bengaluru-based FreshToHome is EBITDA profitable in two cities. The startup has also raised $121 million in Series C funding. Here is how the team was able to achieve profitability and revenue growth.
- When Shan Kadavil started FreshToHome with Mathew Joseph in 2016, he was focused on a single idea – get fresh fish from Kerala delivered to his doorstep. With 35 years of experience as a fish exporter, Mathew built the chain of users and suppliers, and Shan, with his vast experience in running Zynga’s India operations, focused on operations and technology.
- The startup recently raised $121 million in Series C funding led by Investment Corporation of Dubai (ICD). FreshToHome currently fulfils 1.5 million orders per month and are targeting a revenue of Rs 1500 crore in the next 12 months. The online meat delivery startup is also profitable on an EBITDA level in Bengaluru and Delhi.