What makes venture capitalists bet big money on Indian start-ups?
He elaborated on the key factors venture capitalists consider before investing in a start-up: the probability of the venture and how the company will be run and governed. Here, he noted, experienced leadership plays a crucial role in preventing governance pitfalls—something that has plagued a few Indian start-ups in recent times.advertisement'So, there is a different type of capital on the demand side and a different type of company on the supply side. You have to match your investment philosophy with the opportunities available,' he added.Siddharth Balachandran, executive chairman and CEO of Buimerc Corporation, shared his own philosophy of 'permanence', wherein he looks for democratic markets and institutions that reflect those values. His first investment in India was in the Bombay Stock Exchange, which grew from a market cap of Rs 2,000 crore to over Rs 1 trillion in just 15 years.Balachandran also addressed the idea of risk, calling it 'a clichd and often misunderstood concept'. According to him, India's true potential isn't defined by currency values but by the scale and energy of its 1.4-plus billion people.Balachandran identified banks and financial institutions as key sectors for both revenue generation and long-term wealth creation. He described them as a 'multi-tiered growth opportunity'—not limited to new-age or nationalised banks but spread across the entire sector. 'Every institution in that space is an explosion of wealth waiting to happen,' he said.'I've started accruing [investments] in this space, and my accrual process takes a few years. But I've begun—with SBI as my first, and LIC (Life Insurance Corporation of India) as my second. These are the kind of big opportunities I'm looking at.'advertisementSubscribe to India Today MagazineMust Watch
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Indian Express
16 minutes ago
- Indian Express
Karnataka govt offers 50% concession on pending traffic fines till September 12
The Karnataka government Thursday announced a special concession scheme allowing vehicle owners to clear their pending traffic fines at half the original amount. According to the government order, a 50 per cent discount will be offered on fines registered under e-challans by the traffic police department that remain unpaid. The scheme will be valid from August 23 to September 12. 'Vehicle owners can check and settle their dues through multiple platforms, including the Karnataka State Police (KSP) app, the BTP ASTraM app launched by the Bengaluru traffic police, or by providing their vehicle registration number at the nearest traffic police station. Payments can also be made at the Traffic Management Centre and via the Karnataka One or Bangalore One portals,' said a government source. The government said the move is aimed at helping citizens clear long-pending challans while improving overall compliance with traffic rules. In 2023, the Karnataka government introduced the 50 per cent traffic fine concession scheme on three different occasions. The first phase was announced between February 3 and February 11, when the government offered a rebate on e-challan traffic violations for cases registered on or before February 11. Conceived as a one-time measure to clear the mounting backlog of unpaid fines, the scheme turned out to be highly effective. During this period, nearly 52 lakh cases were settled, and the state collected close to Rs 152 crore in fines. Following the overwhelming public response, the Karnataka State Legal Services Authority (KSLSA) recommended an extension of the scheme. Acting on this, the government issued an order to continue the concession from March 4 to March 18, providing citizens another opportunity to clear their pending challans at half the amount. Later in the year, the government decided to reintroduce the concession for a third time. On July 5, it announced that the 50 per cent rebate would once again be made available and kept the scheme open until September 9. Like in the earlier phases, this extension was also applicable only to cases registered on or before February 11, 2023.
Indian Express
17 minutes ago
- Indian Express
States raise revenue loss concerns: GoM backs Centre's plan for GST rate rationalisation
The Group of Ministers on Rate Rationalisation gave its in-principle support Thursday to the Centre's proposal to overhaul the Goods and Services Tax (GST) design, even as member states raised concerns about potential revenue loss on account of the rate rationalisation. Six days ago, Prime Minister Narendra Modi, in his Independence Day address, announced the next big phase of reforms under the GST regime by Diwali, a gift for the common man, small entrepreneurs and MSMEs, in terms of reduced tax burden. The Centre has suggested replacing multiple slabs – 5 per cent, 12 per cent, 18 per cent and 28 per cent – with a broad two-slab structure – 5 per cent and 18 per cent – in addition to a 40 per cent special rate for sin and demerit goods. States said they do not oppose the 'pro-people' proposal, but it may result in revenue losses that will ultimately leave them with less resources to spend on common people in their regions. While Bihar's Deputy Chief Minister and GoM convenor Samrat Choudhary spelt out the panel's support for the GST overhaul proposal, he said observations made by states will be referred to the GST Council. Detailed discussions on items will be taken up in the Council, he said. 'We have deliberated upon the Centre's proposal to remove the two GST slabs, we have given our support and recommendations. Now, the GST Council will decide. All states gave their views, there were some observations by some states. Those will be referred to the GST Council,' Choudhary said. The differing views and observations of states on revenue loss and concerns over profiteering by manufacturers and companies will be part of the note that the GoM will send to the Council along with the Centre's proposal. Some states were also of the view that the work done by the GoM over the last few years will now essentially be wasted as they would be simply handing over the Centre's proposal to the GST Council. 'We have neither approved nor rejected it. Centre cannot give its proposal directly to the Council, so we will be just handing over the Centre's proposal to the Council,' a top state government official told The Indian Express. States are learnt to have sent their suggestions for the GoM's note on a mechanism to compensate states that will address their revenue loss concerns. States are anticipating annual revenue loss of Rs 6,000-10,000 crore, the official said. West Bengal's Finance Minister Chandrima Bhattacharya echoed a similar view and said they are 'okay with the pro-people proposal' but it is not an agreement. The Centre's proposal has not outlined the figure for revenue loss on account of the GST rate rationalisation and the proposal should not move ahead without detailing a mechanism for compensating states for revenue loss. 'It's not an agreement in that way. If it's there, it is okay. If it is pro-people, then it's okay. But it has to be discussed in the Council's meeting also. There is no benefit in discussing it item-by-item in the GoM meeting. It will be discussed item-by-item in the (GST) Council meeting. While presenting a report to the GST Council, they will give a note of what we have said,' she said. Bhattacharya said no state had any issue in accepting the pro-people GST overhaul proposal. 'All states are pro-people. There is no doubt about it. It's nothing to talk about in politics. They are pro-people, let us take it for granted. But when the states lose their revenue, that also ultimately goes back to common people. That has to be looked into. That is what we have said,' she said. 'Because to give relief to common people should not mean that there isn't much left to spend on them after that, we have to think about that. That's why we have said that while you give the presentation, you must quantify it (revenue loss),' she said. She also said that ministers from BJP-ruled states have concurred with the suggestions. 'But we have said we are there, if it benefits people, we are okay. On the one hand it reaches people and on the other hand see what is the loss we (states) are facing. Ultimately if a state suffers any loss, that ultimately boils down to the suffering of the common man,' she said. Uttar Pradesh's Finance Minister Suresh Kumar Khanna said the Centre's proposal was welcomed by all member states saying it is in the interest of the common man. 'States were asking that they should be compensated for revenue loss. The revenue loss will be calculated. Ultra luxury goods and sin goods will attract 40 per cent,' he said. Revenue loss concerns of states stem from the plan to prune the list of items in the 12 per cent slab and shift them to 5 per cent. There is also a concern that most items the existing 28 per cent slab. The Centre plans to introduce a special rate of 40 per cent, which will apply only to 5-7 sin, demerit and luxury items. States revenue loss concerns stem from the plan to prune the list of items in the 12 per cent slab and shift them to 5 per cent. There is also a concern that most items in the existing 28 per cent slab will shift to 18 per cent slab except sin and demerit goods. The Centre plans to introduce a special rate of 40 per cent, which will apply only to 5-7 sin, demerit and luxury items. Some states have suggested amending the GST laws to allow for an additional levy going beyond the current cap of 40 per cent (20 per cent Central GST plus 20 per cent State GST). Some of the items right now attract GST of 60-70 per cent, Bhattacharya said, adding that the law should be amended to ensure that the current tax incidence, especially on sin goods, remains at the current level.
Mint
17 minutes ago
- Mint
HUL names Niranjan Gupta CFO as Ritesh Tiwari moves to global role at Unilever
Mumbai: Consumer goods major Hindustan Unilever Ltd (HUL) on Thursday announced the appointment of Niranjan Gupta as chief financial officer-designate and member of the HUL Management Committee, effective 1 September. Gupta will succeed Ritesh Tiwari, currently executive director, finance, and chief financial officer (CFO), who has been appointed global head of M&A and Treasury at Unilever Plc, effective 1 November. Tiwari will be based in London. Gupta will join the HUL Board on 1 November and report to Priya Nair, chief executive officer (CEO) and managing director (MD) of HUL. The appointment comes amid a series of senior management changes at the maker of Dove soaps and Vim bars. Last month, the company named Priya Nair as CEO and MD, effective 1 August, following Rohit Jawa's exit after a little over two years in the role. According to the company, Gupta began his career with HUL and spent two decades in leadership roles before moving to Vedanta Ltd, and later Hero MotoCorp, where he was elevated as CEO in 2023. 'Niranjan played a pivotal role in strengthening financial health, driving long-term strategy and forging partnerships, including a collaboration with Harley Davidson,' HUL said. Tiwari, who took charge as HUL CFO in 2021, led portfolio transformation initiatives, oversaw key acquisitions and disposals, and steered the demerger of the ice cream business into Kwality Walls (India) Ltd, paving the way for its independent listing. Over the years, several Indian executives from HUL have taken on prominent roles within Unilever Plc. Nitin Paranjpe, for instance, has held multiple leadership positions on t he Unilever Leadership Executive (ULE), including chief transformation officer and chief operating officer, and now serves as non-executive chairman of HUL. Leena Nair, another HUL veteran, was Unilever's chief human resources officer and a member of the ULE before moving on to become global CEO of Chanel. HUL, which reported turnover of ₹ 60,680 crore in FY25, up 2% year-on-year, and profit after tax of ₹ 10,644 crore (up 5% YoY), has seen several other leadership changes in the past year. In March, it appointed Rajneet Kohli, former CEO of Britannia Industries, as executive director, Foods. In December 2024, Vivek Mittal took charge as executive director, Legal and Corporate Affairs. Other recent management committee changes include Vipul Mathur (Personal Care) and Arun Neelakantan (Customer Development). On Gupta's appointment, Priya Nair said: 'I would like to thank Ritesh for his future-focused leadership and invaluable contribution to HUL. His elevation to a global role is a testament to HUL's strong leadership pipeline. I am pleased to welcome Niranjan back to HUL and am confident he will play a pivotal role in steering the company towards its next phase of growth.'
