The Department for Promotion of Industry and Internal Trade (DPIIT) amended the rules a few years ago, such as the startups will be eligible for Rs.10,000 crore funds of funds from the Alternative Investment Funds, The DPIIT recognized startups can apply for Angel Tax Exemption, he DPIIT recognized startups will get an opportunity to list the product on Government e-Marketplace, contributing all these factors. The rate of startups being recognized has increased and also is allowing them to receive infrastructural assistance. Over the previous six months, the government has recognized 50,000 startups around the country, assisting them in obtaining benefits under a variety of laws and regulations. In reality, the covid-19 does not appear to have dampened the spirit in any way, as seen by ...

Taking into account the dangerous COVID-19 pandemic, Reliance Industries (RIL) has announced that it will keep on giving last drawn month to month salary for five years to the nominee of the employees, who have succumbed to the COVID-19 disease. Further, it will give 100% payment of tuition fee, book fee and hostel accommodation for up to Bachelor's degree at any institute in India for all children of the deceased employees. Reliance will likewise bear 100% payment of premium for hospitalization coverage for parents, children and spouse (till the Bachelor's degree of the children). Moreover, all colleagues affected by COVID-19 personally, or within the family, can avail of the special COVID-19 leave for the full span of their recuperation, both, emotionally and physically. Notably, this...

The Pune-based Serum Institute of India has inclined up creation of COVID-19 immunization and will produce 10 crore doses of Covishield to the Centre quite soon and a further 10 to 12 crore dosages by July. In a company letter, the SII stated, "We are pleased to inform that in June we will be able to manufacture and supply nine to 10 crore doses of our Covishield vaccine to the country as compared to our production capacity of 6.5 crore doses in May”.The vaccine manufacturing organization asserted that its employees have been working day in and out to satisfy the rising need for the vaccines in the country, it wrote in letter to Union Home Minister Amit Shah. India is at present utilizing made-in-India vaccines - Covishield of SII and Covaxin of Bharat Biotech - for its COVID-19 inocula...

The EU-China Comprehensive Agreement on Investment, agreed by negotiators in December, after seven years of talks, aimed to put EU companies on an equal footing in China and cement Beijing's status as a trusted trading partner. But Beijing imposed sanctions in March, on 10 EU politicians, as well as think-tanks and diplomatic bodies, in response to Western sanctions against Chinese officials accused of the mass detentions of Muslim Uyghurs in north western China. After seven years of negotiations, negotiators reached an agreement in December to place EU companies on an equal footing in China and solidify Beijing's standing as a reliable trading partner.However, in March, Beijing placed sanctions on eleven EU lawmakers, research institutes, and diplomatic organisations in retaliation to ...

After a boycott of foreign companies that have taken a stance against the treatment of Muslim Uyghurs in the Xinjiang region, online sales of Adidas AG and Nike Inc. plummeted in China, showing the blow to businesses that cross Beijing's political lines.According to Morningstar Inc.'s report, sales in the Adidas store on Alibaba Group Holding Ltd.'s Tmall China's largest business-to-consumer e-commerce site fell by 78 percent in April from a year earlier, while Nike's dropped by 59 percent. Uniqlo, an apparel company owned by Fast Retailing Co., saw its sales drop by more than 20 percent as a result of the boycott.Instead, mainland customers turned to Chinese sportswear rivals such as Anta Sports Products Ltd. and Li Ning Co. Ltd., which have backed the use of controversial far west mat...

Two EU officials on Thursday responded that during the India-EU leaders' meeting on May 8, India and the European Union are expected to announce the restart of the stalled free trade talks. One of the two officials quoted above, told reporters during a virtual briefing from Brussels that the two sides would resume talks after eight years and take up where they left off.Although the emphasis was on bilateral relations, there was also a subliminal reference to more robust cooperation between the two sides in light of China's rise. The meeting will be between two natural partners, the world's two largest democracies with mutual values, common interests, and a commitment to multilateralism and a rules-based international order. "We need to show that a democratic and transparent model is the...

The United States government has decided to support the controversial proposal to temporarily waive intellectual property rights for existing vaccines, to increase the global supply of doses that are required to boost the ongoing vaccination campaigns in many countries. The United States Trade Representative Katherine Tai has announced the government’s decision during World Trade Organization’s talks about allowing more manufacturers to produce more life-saving vaccine doses. Katherine Tai said statement that the administration believes strongly in intellectual property protection, but in service of ending the pandemic, the government supports waiver of those rights for COVID-19 vaccines. She has also mentioned that it needs some time to reach the necessary global consensus to waive the...

According to people familiar with the situation, Tencent Holdings is negotiating deals with a US national security panel, that would allow it to retain its ownership stakes in the US video game developers Riot Games and Epic Games. Since the second half of last year, Tencent has been in negotiations with the Committee on Foreign Investment in the United States (CFIUS), which has the power to order the Chinese technology giant to divest its US assets.According to the reports, CFIUS is investigating whether Epic Games and Riot Games' treatment of their users' personal data poses a national security danger due to their Chinese possession. Epic Games, the developer of the iconic video game Fortnite, has a 40% interest in Tencent. In 2011, Tencent bought a controlling stake in Riot Games, an...

The AOL logo is displayed on a sign, in front of the AOL Inc. offices in Palo Alto, California, and the Yahoo logo is displayed in front of the Yahoo headquarters in Sunnyvale, California. Agence France-Presse. Verizon Communications Inc. is selling its internet companies, which include Yahoo and AOL, for $5 billion, putting an end to a costly and disappointing run in the media and advertising industry. Despite spending over a decade and billions of dollars to acquire a stable of internet brands, the New York-based telecom behemoth has struggled to gain momentum in a competitive market. Competitive internet advertising space has been dominated by Facebook Inc and Google, and has instead concentrated its efforts on improving 5G. After deducting $4.6 billion from the valuation of the busi...

The foreign ministers of the Group of Seven affluent democracies met in person for the first time in two years on Tuesday, to discuss ways to form a united front against an increasingly assertive China. In support of the US President Joe Biden's demands for a stronger coalition of democracies, host Britain welcomed India, South Korea, and Australia to three days of talks in central London.Following a welcome dinner Monday focusing on Iran's and North Korea's nuclear programmes, the foreign ministers began formal talks at Lancaster House, a West End mansion, with Covid-friendly elbow bumps and sparse personnel. The G7's first meeting on Tuesday was devoted to China, whose rising military and economic clout, as well as ability to exercise power at home and abroad, has alarmed Western demo...