A special economic zone (SEZ) is a designated zone or enclave within a country’s national borders with more permissive economic laws than the rest of the country. It’s a duty-free zone within a country with its own set of economic and commercial laws, primarily to attract investment and job creation. Apart from creating job opportunities and encouraging investment, SEZs are established to...
The micro, small and medium enterprises development (MSMED) Act of 2006 states that an MSME is any micro, small and medium enterprise (MSME), operational in the manufacturing or service sector. A new MSME definition further categorized them based on the value of their individual investment in equipment and the annual turnover of the enterprise. The importance of MSMEs can be gauged from the fact...
Fundraising is an inevitable part of a startup’s growth curve and there are different stages of funding that it goes through, to expand its services and function at an optimal matrix of performance and profitability. These different rounds of raising funds, pre-seed, seed and series rounds, help it to infuse essential capital at timely stages into the venture which keeps it well aligned to preset...
For decades, taxation has been the key source of revenue for governments all across the world, including India. The country has a well-structured tax system that employs both liberal and progressive taxation depending on income and other criteria, with the national and state governments determining the rates. Tax income is the money received by the government and can be used for a variety...
Running a country, particularly one with such a large population as India, is expensive. The government is able to carry out civic operations only from the taxes we pay. In other words, without taxes, the government would be unable to manage the country. One of the most important sources of revenue for the Indian government is income tax. If people begin to view income tax as a burden...
The startup vertical in India is buzzing with activity. Every day, fresh reports carrying Unicorn status news, is fueling funding and infusing fresh energy into entrepreneurs who are boldly venturing to create new startup industry categories. These soonicorns have translated their innovations into working, revenue earning models and rank among the unique startups in India. There are reports that...
The Indian Constitution grants the government the right to levy taxes in accordance with the Indian tax system. Tax revenues from the citizens of India are collected by the government to finance public works projects and improve the country’s economic standing. In India, the tax system is divided into three levels: central, state and local government. The Indian tax system allows taxpayers...
While the economy of India might look rather gloomy at the moment, there is one sector that continues to grow in leaps and bounds and that is online retail, or the e-commerce sector. With more and more Indians using the internet, the revenue of e-commerce companies could very well triple over the next few years to 504 billion rupees. And when we talk about retail, it is not just Flipkart, Amazon...
The future of retail lies in e-commerce. Every established retail store actively seeks to have an online segment as this can boost sales up to 40% with some hard work, dedication and time. All those desirous of starting an online business must be prepared to do business online as without it, they will seem odd and will be cutting into their own profits. There are a number of steps to...
From its very inception in 2008, Blockchain technology has had a substantial influence on the internet. The invention of blockchain led to the creation of Bitcoin, the world’s first cryptocurrency. The cryptocurrency exchange is a great example of how valuable blockchain technology can be. Many businesses are already considering launching their own profitable cryptocurrency exchange in...