Business

By Ritesh Kumar Singh Smaller business entities are often associated with the informal sector and widely believed to dodge taxes and bypass tough labour regulations. However, an increasing number of firms engaged in consultancy, research and advisory, and other knowledge intensive services – often with substantial portion of their sales as exports – are part of the country’s formal sector. Though such firms have fewer employees compared to large firms, they are registered with registrar of companies (RoC) and GSTIN network, and are usually tax compliant. Yet, they are subject to several disadvantages that big businesses don’t have to face and that affect their cost competitiveness and growth prospects. The result is lower investment and loss of thousands of potential jobs. Nurturing this sub-segment of the formal sector will aid economic growth, improve tax to GDP ratio and create good jobs that the government has been trying to achieve through its … [Read more...] about How to help small businesses

Talking to ET Now, Enam Group's Chairman, Vallabh Bhanshali describes how GST will have a difficult transitional impact on the markets and traders as well as provide new opportunities in the investment arena. Edited Excerpts: GST is seen as the most revolutionary reform since India’s liberalisation in 1991. What can GST implementation mean for India’s perception in the world? GST is a revolutionary reform and it basically integrates India. Now this question of integrating India is a very big one and we have to see it in the right perspective. Just as one political India had to be created, then liberated India had to be created and now you are creating an integrated India from a business point of view; this explains the enormity of change and the enormity of difficulties. Several people have contributed to the development of the current GST law and all of them have to be complimented for thinking of one India. Do you think the small players, small-scale industry will … [Read more...] about Small businesses always survived because they’ve a sense of enterprise: Vallabh Bhanshali, Enam Group

PUNE: Tech Mahindra has signed a Memorandum of Understanding with Business Finland to set up a 5G and 6G innovation lab in Finland. As part of the collaboration, Tech Mahindra will develop, pilot and implement state-of-the-art digital products and services to foster growth, productivity and innovations in the area of 5G and 6G. Tech Mahindra’s innovation centre will be a platform for key players in Finland, including universities, research institutes, government and companies, to collaborate. Jagdish Mitra, chief strategy officer, Tech Mahindra told ET that the primary focus would be creating enterprise applications using the technology. “We want to make 5G and 6G enterprise-ready and will cover all aspects of the rollout,” he said. The innovation lab would also work with businesses in the region to create proofs of concept on enterprise applications, said Mitra. Timo Harakka, Finnish Minister for Employment, said, “The MoU between Tech Mahindra and … [Read more...] about Tech Mahindra and Business Finland to set up innovation lab in Finland

Canon today announced a step forward in the business-to-business segment anchored on the belief that business can be simple. Offering a suite of print management, document management and workflow solutions, the company claimed to be set to deliver seamless and secure workflows to help companies large and small fuel vital growth. Globalisation and the advancement of technology have accelerated the emergence of new business platforms and also changed the way traditional businesses are managed. As India accelerates towards a digital economy, developments in eCommerce, Big Data and the Internet of Things have a multitude of implications for operations from data integrity, retention and compliance, logistics to the future sustainability for businesses. The philosophy of 'business can be simple' recognises the shifts in the business environment, and aims to reduce complexity by simplifying workflows. Canon said in a statement today that innovation, technology and security are of paramount … [Read more...] about Canon attempts to takes on the mission of ‘Business can be Simple’

Video PlayerClose ADDIS ABABA, Nov. 24 (Xinhua) -- Ethiopia's capital Addis Ababa is set to host a high-level Africa-China Business Forum on Nov. 27 as hundreds of Chinese companies are expected to take part at the meeting creating ties with their Ethiopian and African counterparts. The Ethiopian Chamber of Commerce and Sectoral Association, co-organizing the high-level business meeting next week in partnership with China International Exhibition Center (CIEC), said on Saturday that the gathering is aimed at promoting trade and investment for mutual growth through strengthened partnership. According to the association, hundreds of Chinese companies that are engaged in 29 different sectors are expected to take part at the meeting in a bid to create partnership and joint-venture with their Ethiopian as well as African counterparts. Chinese companies engaged in the manufacturing of building materials, engineering logistics, machinery, energy equipment, agricultural and food processing … [Read more...] about Ethiopia to host high-level Sino-Africa business meeting next week