Newspaper Cuttings published by Times of India, dated 29.07.2019, Mumbai Edition.
Dear all,
Your association SIMA is forwarding herewith article’s published by the Times of India e-paper, Mumbai Edition dated 29.07.2019.
1. E-market Udaan plans new round at $2.7bn valuation: TOI.
(In Talks for $500M with Existing Backers, Altimeter, Hill house)
As per the article, Udaan an online marketplace that supplies products and gives loans to small merchants, is in talks to raise a new round of funding of around $500 million. This will be at a post-money valuation of close to $2.7 billion, as business-to-business (B2B) startups continue to be high on investors’ radar. The three-year-old entity had become the fastest startup in the country to reach unicorn status last year…. TO READ THE FULL ARTICLE PLEASE CLICK HERE.
2. Revenue concessions to RCEP may touch ₹60k cr.
(Govt Points to Gaps In Asean Trade Pact, Fears Impact On ‘Make In India’ Initiative)
Hidden in the Budget documents is a number that has gone virtually unnoticed — India’s revenue foregone due to the trade agreement with Asean more than doubled to nearly Rs 26,000 crore in 2018-19 from the previous fiscal, as it allowed duty-free and lower duty import of more goods from the trading bloc.
Last fiscal’s giveaway — which is as much as the Centre hopes to collect through the super-rich tax this year — may rise in the coming years as the current utilisation of the trade pact is only around 40% of its potential. But the bigger fear for policy makers, especially those in the finance ministry, is the revenue foregone due to the Regional Comprehensive Economic Partnership (RCEP) agreement that is currently under negotiation. With the talks gathering steam, the revenue department has raised the red flag, arguing that concessions could easily top Rs 30,000 crore a year once they kick in and will nearly double to Rs 60,000 crore after the agreement is fully in force…. TO READ THE FULL ARTICLE PLEASE CLICK HERE.
This is for your kind information.
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association,
Narendra Trivedi,
Secretary
