Hello,
A new startup policy?
By next month, Jammu and Kashmir will have a new startup policy that aims to provide a roadmap for nurturing innovation, creating jobs, and driving economic growth, Lieutenant Governor Manoj Sinha said while addressing the valedictory session of J&K Startup Conclave 2023 in Srinagar.
Meanwhile, the Small Industries Development Bank of India (SIDBI) plans to float a Rs 10,000-crore rights issue next fiscal to expand its equity capital as it expects to grow assets to Rs 5 lakh crore by March 2024 from about Rs 4 lakh crore in March 2023.
In other news, with the FAME-II scheme coming to an end in March 2024, Chief Business Officer at Ather Energy, Ravneet S Phokela, told PTI that the company hopes the government would extend the current level of subsidy for another three to five years for acceleration of EV adoption.
“Two requirements, extend the period of time and, importantly, let there be policy predictability,” he said.
Speaking of electric mobility, Jaguar Land Rover is closely monitoring the demand for battery electric vehicles in India, and depending upon the emerging scenario, will “strategise” the entry of more models into the country.
Globally, JLR will open bookings for the new Range Rover BEV by the end of this year, built upon the success of existing modular longitudinal architecture, which currently underpins the ICE Range Rover and Range Rover Sport models.
ICYMI: Tinder has partnered with the NGO Centre for Social Research to offer safety guidance to its users as part of its efforts to ensure the safety of its users.
Safe dating for the win!
In today’s newsletter, we will talk about
- WhatsApp Business helping Indian SMBs
- Inside ethical clothing line Kiniho
Here’s your trivia for today: Where did sushi originate?
Enterprise
WhatsApp Business helping Indian SMBs
With about 400 million users, Meta-owned WhatsApp counts India among its largest markets. Besides connecting users to each other, WhatsApp, through its services for companies of all sizes, also enables large enterprises, SMBs, and solo entrepreneurs to build and sustain their businesses.
Launched in January 2018, the WhatsApp Business app has about 50 million users globally and more than 15 million in India. Ravi Garg, Director, Business Messaging, India – Meta, talks about the messaging platform’s solutions for businesses and their impact.
For businesses:
- WhatsApp Business app, a free-to-use app used by millions of small businesses in India, was built keeping the Indian trader in mind, and there are more than 200 million users of the WhatsApp Business app across the world.
- People can now purchase groceries from JioMart right through a chat. SBI General Insurance’s WhatsApp chatbot enables easy access to insurance products through WhatsApp, Garg said.
- In July, Meta and the Confederation of All India Traders (CAIT) expanded the ‘WhatsApp Se Wyapaar’ programme to digitally train and upskill 10 million local traders on WhatsApp Business app.
Women Entrepreneurs
Inside ethical clothing line Kiniho
Iba Mallai grew up in Meghalaya’s Ri Bhoi district in a community that weaves and dyes its own fabrics. Her deep-rooted love for nature and traditional craft encouraged her to learn more about textiles and fashion. In 2016, with an investment of Rs 3 lakh, she left her corporate job at IBM and started Kiniho—her ethical clothing line.
Sustainable textiles:
- Mallai started the brand with the aim of “creating responsibly”. Therefore, she chose to work with Eri silk—a protein fibre derived from the cocoons of Samia ricini or Cynthia ricini moths.
- Kiniho has adopted the traditional heirloom weaving techniques and works with the community weavers equipped with traditional hand-weaving techniques.
- Kiniho has an in-house team of 18 weavers and also works with around 30 weavers from the nearby villages.
News & updates
- Predictions: The Federal Reserve is unlikely to raise interest rates at its October 31 – November 1 meeting, Goldman Sachs strategists said while also forecasting the US central bank would lift its economic growth projections when policymakers gather next week.
- Another fix: The revamp of the Ethereum network, known as the Merge, turned out to be a seamless transition to a more energy-efficient system of ordering transactions on the blockchain. Surging demand for the staking feature has now raised the prospect of the network bogging itself down.
- Tough job: The Class of 2024 at many of India’s Tier II and III engineering colleges is staring at one of the toughest years in recent history for campus hiring, as IT/ITeS companies that typically recruit a big chunk of students have either stayed away or deferring plans.
What you should watch out for
- The countdown has begun and the stage is set as we embark on the 14th edition of YourStory’s flagship event—TechSparks 2023. We are ready to celebrate ‘The Great Indian Techade’ from September 21-23. Are you ready for India’s India’s most influential conference of entrepreneurs and technologists?
- Vedanta will hold a meeting of the committee of directors on September 21 to consider the proposal for issuance of Non-Convertible Debentures on a private placement basis as part of its routine refinancing that is undertaken in the ordinary course of business, the company informed SEBI on Sunday.
- IPOs this week: Samhi Hotels IPO and Zaggle Prepaid Ocean Services IPO will close on September 18, while Yatra Online IPO closes on September 20 from the mainboard segment. From the SME segment, Cellecor Gadgets IPO, Holmarc Opto-Mechatronics IPO, and Kody Technolab IPO close on September 20.
Where did sushi originate?
Answer: China. Even though Japan is the world’s sushi capital today, the dish originated in China as Narezushi, mainly made from fermented rice and salted fish.
We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com.
If you don’t already get this newsletter in your inbox, sign up here. For past editions of the YourStory Buzz, you can check our Daily Capsule page here.
