What is it? The corpus of the venture fund floated by Infosys co-founder Nandan Nilekani and Sanjeev Aggarwal, a venture capitalist and Helion Venture founder.
Why is it important? The fund would strengthen the prospects for later-stage funding, when startups need more capital to scale up, mostly in the form of Series B and C funding. Both Series B (a decline of 16% in the first quarter of 2017) and Series C (five companies received such funds in the first half of 2017) funding saw fewer deals in 2017.
Tell me more: Called The Fundamentum Partnership, the fund will invest in 10-15 mid-stage startups specialising in consumer technology.
What is it? The number of states and Union Territories that have abolished checkposts collecting border commercial tax, after introduction of the Goods and Services Tax (GST) on July 1st.
Why is it important? This will result in faster movement of goods and also reduce cost of compliance, as paperwork at the border checkpost is a time-consuming process. Even before GST, states like Uttar Pradesh, Maharashtra, West Bengal have done away with border check posts.
Tell me more: Eight more states are in the process to abolish the border check posts, as GST tries to realise the ‘One nation, one tax’ goal. While a World Bank report in 2005 had put the cost of truck delays at checkposts at upto Rs 2,300 crore, a IIM-C study in 2016 noted $6.6 billion loss from transportation delays including holdups at checkposts.
What is it? The index of the Nikkei India Manufacturing Purchasing Managers’ Index, a private survey.
Why is it important? The value is at a four-month low. Growth in new orders slowed dragging down the activity index. Challenges such as water shortages and the imminent implementation of GST hampered growth as well.
Tell me more: A value of 50 and above means expansion of manufacturing activities.
Rs 200 crore
What is it? The expected net worth of the merged entity created by the National Multi-Commodity Exchange (NMCE) and the Indian Commodity Exchange (ICEX).
Why is it important? The duo’s merger will create the third-largest commodity exchange in India. It will follow the Multi Commodity Exchange and the National Commodity and Derivatives Exchange by volume. It is also India’s first demutualised multi-commodities exchange.
Tell me more: India’s commodity futures market for agriculture, metals, bullion and energy was Rs 56.3 lakh crore in 2015-16, as compared to Rs 155.9 lakh crore in 2011-12.
What is it? The expected share of the world’s new mobile subscribers of India and China by 2020.
Why is it important? The two countries are forecast to add 361 million new subscribers by then, according to the Mobile Economy Asia Pacific 2017 report by GSMA Intelligence.
Tell me more: More than half the world’s mobile subscribers (2.7 billion) live in Asia Pacific, and India and China account for two-third of them. By 2020, this will go up to three quarter of the world’s population or more than 3.1 billion mobile subscribers in Asia Pacific.