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World Environment Day 2024: How are these firms planning to become greener?

Livemint

Livemint · 1y ago

World Environment Day 2024: How are these firms planning to become greener?

On World Environment Day 2024, initiatives by various companies highlight the importance of sustainability and the need to reduce carbon emissions. McDonald's India-North and East has transitioned 24% of its restaurants in Delhi to solar energy, resulting in a reduction of 3,822 tonnes of CO2 emissions annually. ITC Hotels has transformed most of its hotels into green buildings, with 23 LEED Platinum hotels and LEED Zero Carbon and Water certifications. Crystal Crop Protection plans to cut GHGs by 20% in 2027 through initiatives like transitioning to biomass energy and water and plastic recycling. Logistic firm CJ Darcl Logistics is piloting electric vehicle cargo operations for a greener future.

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Will union budget 2024 boost the startup ecosystem’s progress

Inc42 · 1y ago

Will union budget 2024 boost the startup ecosystem’s progress

The article discusses the expectations and anticipation surrounding the Union Budget 2024 in India, particularly its impact on the startup ecosystem. With India's startup ecosystem being the third-largest globally, stakeholders are keen to see how fiscal measures in the budget will shape the growth trajectory. Key expectations include the standardization of capital gains tax, expansion of tax deferral on ESOPs, inclusive tax regimes for different types of firms, and flexibility in the personal tax regime. These measures are seen as potential catalysts for fostering a conducive environment for startups and attracting investments.

Chai Pe Charcha: Meet 14 Startups Stirring Up The Indian Tea Landscape

Inc42 · 1y ago

Chai Pe Charcha: Meet 14 Startups Stirring Up The Indian Tea Landscape

India has become the top tea-exporting and drinking country in the world, with the tea market expected to reach $14.7 billion by 2032. On International Tea Day, 14 tea brands are highlighted for their game-changing impact on the Indian tea market.

Karnataka plans to end labour exemption to tech firms

Economic Times

Economic Times · 1y ago

Karnataka plans to end labour exemption to tech firms

The Karnataka government is planning to end labour exemptions for technology companies in May 2024. Currently, the IT, ITeS, business process outsourcing, and knowledge process outsourcing firms in the state are exempt from labour regulations. However, citing instances of unfair termination, ID blocking, retrenchment, sexual harassment, and extended working hours, the government aims to bring tech firms under the purview of these regulations. The exemptions, which have been in place since 2014, will cease next year unless renewed. The move aims to ensure job security and protect employees in the tech sector.

Amazon, Microsoft team up to protect users from impersonation scams in India

Economic Times

Economic Times · 1y ago

Amazon, Microsoft team up to protect users from impersonation scams in India

Amazon and Microsoft have joined forces to protect users in India from impersonation scams. The two tech giants are working together to educate users about these scams and provide guidance on how to recognize and avoid them. This collaboration aims to create a safer online environment for Indian users and reduce the risk of falling victim to impersonation scams.

At $5 billion, startup’s exit street buzzier in 2024

Economic Times

Economic Times · 6m ago

At $5 billion, startup’s exit street buzzier in 2024

Investors in Indian startups made more than $5 billion in exits in 2024, primarily through secondary transactions like IPOs and block deals. This trend is expected to continue in 2025, with the number of new-age IPOs likely to double. Secondary transactions have become a popular way for investors to generate liquidity while attracting new investors. Startups like Swiggy and FirstCry have seen significant exits through IPOs and block deals. The focus on smaller IPOs is expected to provide more investment options and release liquidity for existing investors. New venture capital firms are also emerging with a focus on secondary investments. Companies like Bluestone, Ather Energy, and Ecom Express are planning IPOs in the coming year. Overall, funding in Indian startups has seen a revival in 2024, but only a few select assets are drawing investor attention.

Eye on GenAI, Indian IT companies seek opportunities to build and expand

Economic Times

Economic Times · 1y ago

Eye on GenAI, Indian IT companies seek opportunities to build and expand

Indian IT firms like Tech Mahindra and Wipro are looking to expand their presence in the artificial intelligence (AI) segment, with a focus on genAI-based services. These companies have been investing in AI technology internally and in client offerings, and expect generative AI to be a game-changing agent across industries like manufacturing, healthcare, and retail. The adoption of genAI is expected to improve productivity and create more efficient processes, products, and customer experiences. Indian firms also anticipate the impact of regulatory environment and are investing in upskilling their employees in AI.

Startups looking to reverse-flip must pay tax: Piyush Goyal

Economic Times

Economic Times · 1y ago

Startups looking to reverse-flip must pay tax: Piyush Goyal

Indian-origin startups planning to move their headquarters back to India will have to pay tax, according to Commerce Minister Piyush Goyal. These companies initially set up abroad for tax planning purposes and now want to return to India to take advantage of the country's growth story. Goyal stated that it would be unfair to exempt these firms from taxation while others are paying. Several unicorn startups, including Pine Labs and Razorpay, have been considering a move back to India from jurisdictions like Singapore and the US.

Widening disparities, growing threats cloud global cybersecurity outlook: WEF

Economic Times

Economic Times · 1y ago

Widening disparities, growing threats cloud global cybersecurity outlook: WEF

According to the World Economic Forum's Global Cybersecurity Outlook 2024 report, eight in ten top business executives feel more exposed to cybercrime than last year. The report highlights threats such as AI-generated deepfakes spreading false information during elections and organised misinformation campaigns on social media. It also mentions the rise of cyber inequity and the need for urgent action to address it. The report calls for collaboration to counter these threats and build a more resilient cybersecurity environment.

Massive Earth Foundation and UNEP launch 5th edition of LowCarbon.Earth

Entrackr

Entrackr · 1m ago

Massive Earth Foundation and UNEP launch 5th edition of LowCarbon.Earth

The Massive Earth Foundation, in partnership with the United Nations Environment Programme (UNEP), has launched the 5th edition of its climate startup accelerator, LowCarbon.Earth, on World Environment Day at the India Habitat Centre in Delhi. The event was inaugurated by former MoEFCC (Ministry of Environment, Forest and Climate Change) Secretary Leena Nandan and saw participation from delegates of UNESCO, UNEP, NPC, APC, and senior IAS officers. Started in 2021, LowCarbon.Earth helps early-stage climate tech startups through a venture capital (VC) framework. So far, it claims to have supported over 180 startups, helped deploy $350 million in funding, and driven global partnerships for climate innovation. The accelerator focuses on key sectors like air and plastic pollution, EV mobility, agriculture, and waste management, offering mentorship, funding access, and support from UNEP. It encourages applications from women-led, youth, and marginalized community founders. “These startups not only succeed in cutting down carbon emissions, supporting the circular economy, and building sustainable solutions but also achieve this while generating wealth. With the right support, framework, and financing, building sustainability can become a highly profitable venture,” said Vinutha Raju, Program Head at MEF. Startups can now apply for the 5th edition at Lowcarbon.earth. The initiative aims to promote a green, circular economy and achieve net-zero targets by 2030.

Bank of America expects India fundraising to be busier than ever

Livemint

Livemint · 1y ago

Bank of America expects India fundraising to be busier than ever

Bank of America predicts that fundraising activity in India will be robust over the next couple of years. The country's conglomerates, tech firms, and financial services providers are seeking capital for growth, while company owners are looking to sell holdings. Initial public offerings (IPOs) are expected to be particularly active in 2024 and 2025, with 5 to 10 tech firms and a few subsidiaries of multinational companies planning to launch IPOs during this period. Factors such as a growing retail investor base, a strong economy, and global investors shifting focus from China to India are contributing to this trend.

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