<ul><li>While the details of the deal remain undisclosed, <keyword id="2016957" type="COMPANY" weightage="20" keywordseo="Vedantu">Vedantu</keyword> had also invested $2 million in <keyword id="9450626" type="UNKNOWN" weightage="20" keywordseo="Instasolv">Instasolv</keyword> in July 2020.</li><li>The latest acquisition will bring on board Instasolv’s 1 million learners to Vedantu’s platform which is already 25 million strong.</li><li>This is the latest acquisition in <keyword id="1464841" type="PERSON" weightage="20" keywordseo="Edtech">edtech</keyword>, which has been led by BYJU’S and <keyword id="6630114" type="UNKNOWN" weightage="20" keywordseo="unacademy">Unacademy</keyword>.</li></ul>Indian online tutoring startup Vedantu has acquired Instasolv, a doubt-solving app – marking its first acquisition in the buzzing educational technology space. While the details of the deal remain undisclosed, Vedantu had also invested $2 million in Instasolv in July 2020. “Last year we took a strategic decision to invest in Instasolv to strengthen our play in doubt-solving, which is one of the key aspects of learning online. We have seen tremendous potential in Instasolv and share the same mission to democratize education in the country. Through this partnership we endeavor to change India’s learning curve through definitive outcomes,” said Vamsi Krishna, chief executive officer and co-founder of Vedantu, in a statement. The latest acquisition will bring on board Instasolv’s 1 million learners to Vedantu’s platform which is already 25 million strong. Instasolv was founded in 2019 by IIT graduates Aditya Singhal, Nishant Sinha, and Bahul Arora. Vedantu Innovation Pvt. Ltd was founded in 2011 by IIT alumni Vamsi Krishna, Anand Prakash, and Pulkit Jain. In April 2020, the company had raised funding in two tranches – $12.6 million and $7 million for a Series C round. Its last <a href="https://entrackr.com/2020/04/exclusive-vedantu-valuation-280-mn-after-7-mn-in-fresh-funding/">reported</a> valuation is $280 million. Vedantu’s acquisition of Instasolv is the latest in the Indian edtech ecosystem which has players like BYJU’S, the world’s most valued edtech startup and Unacademy, which was last valued at over <a href="https://www.businessinsider.in/business/startups/news/amazon-enters-the-test-preparation-market-byjus-is-in-talks-for-a-billion-dollar-acquisition-and-facebook-backed-unacademy-raises-more-funds-a-big-day-in-indias-edtech/articleshow/80252646.cms">$2.45 billion</a>. <table><tbody><tr><td>Startup</td><td>Acquired startup</td><td>Timeline of acquisition</td></tr><tr><td>Unacademy</td><td>TapChief</td><td>February, 2021</td></tr><tr><td>Unacademy</td><td>NeoStencil</td><td>December 2020</td></tr><tr><td>Unacademy</td><td>PrepLadder</td><td>July 2020</td></tr><tr><td>Unacademy</td><td>Mastree</td><td>July, 2020</td></tr><tr><td>Unacademy</td><td>Codechef</td><td>June 2020</td></tr><tr><td>Unacademy</td><td>Coursavy</td><td>September 2020</td></tr><tr><td>Unacademy</td><td>Kreatryx</td><td>March 2020</td></tr><tr><td>BYJU’S</td><td>Osmo</td><td>Jan 2019</td></tr><tr><td>BYJU’S</td><td>White Hat Jr</td><td>Aug 2020</td></tr><tr><td>BYJU’S</td><td>LabInApp</td><td>Sept 2020</td></tr><tr><td>BYJU’S</td><td>TutorVista</td><td>Jul 2017</td></tr><tr><td>BYJU’S</td><td>Math Adventures</td><td>Jul 2018 </td></tr><tr><td>BYJU’S</td><td>Vidyartha</td><td>Jan 2017</td></tr></tbody></table> BYJU’S is also reportedly in talks with a few startups -- including <a href="https://www.businessinsider.in/business/startups/news/heres-why-byjus-may-want-to-spend-a-billion-dollars-on-acquiring-aakash-educational-services/articleshow/80243456.cms">Aakash </a>institute, <a href="https://entrackr.com/2021/02/exclusive-byjus-set-to-acquire-toppr-in-a-150-mn-deal/">Toppr</a>, and <a href="https://www.techinasia.com/sources-byjus-acquires-doubt-solving-edtech-startup-scholr">Schoolr</a> -- to buy them out. With the coronavirus pandemic and the subsequent lockdown that saw schools and colleges close their doors, online learning emerged as the next big thing to watch out for. The year 2020 saw India’s edtech startups raise over $2.2 billion in funding, with BYJU’S alone accounting for $1.35 billion, according to a <a href="https://www.businessinsider.in/business/startups/news/india-edtech-in-charts-how-the-shift-to-online-learning-meant-money-valuation-and-users-for-the-likes-of-byjus-unacademy-and-others/articleshow/80040270.cms">PGA Labs-IVCA report</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/unacademy-acquires-tapchief-to-help-students-get-their-dream-jobs-its-seventh-acquisition-in-the-last-one-year/articleshow/80982132.cms">Unacademy acquires TapChief to help students get their dream jobs – its seventh acquisition in the last one year</a> <a href="https://www.businessinsider.in/business/ecommerce/news/discounts-have-dropped-lower-on-the-customer-priority-list-say-indian-online-retailers/articleshow/81145830.cms">Discounts have dropped lower on the customer’s priority list, say Indian e-tailers</a> <a href="https://www.businessinsider.in/finance/banks/news/analysts-reports-showed-that-90-percent-of-unsecured-retail-loans-have-gone-to-salaried-government-employees/articleshow/81150110.cms">One in every five rupees lent by SBI to individuals, goes to government employees</a>

Vedantu acquires Instasolv, a doubt-solving app – the latest in buzzing edtech acquisitions in India

<ul><li>India’s education sector is poised to grow from the current $117 billion to $225 billion by FY25. </li><li>And to have a piece of the pie, the biggest players are scrambling for customers, acquisitions and moolah. </li><li>Here’s how just one day in India’s <keyword id="1464841" type="PERSON" weightage="20" keywordseo="Edtech">edtech</keyword> sector panned out.</li></ul>India is home to the world’s most valued edtech startup and has a burgeoning list of unicorns from the sector. Even Indian venture capitalists <a href="https://www.businessinsider.in/business/startups/news/2021-will-be-a-watershed-moment-for-india-tech-ecosystem-here-are-the-startup-sectors-that-vcs-are-betting-on/articleshow/80208631.cms">believe that it’s a sector to watch out for</a> in 2021. And if that were not enough, the world’s richest man Jeff Bezos is eyeing the edtech segment in India, apart from his already bullish e-commerce giant Amazon. According to a report by PGA Labs and IVCA, India’s education sector is poised to grow from the current $117 billion to $225 billion by FY25. And to have a piece of the pie, the biggest players are scrambling for customers, acquisitions and moolah. Here’s how just one day (January 13) in India’s edtech sector panned out <cmsannotation type="cmsannotation" annotationid="Amazon enters the test preparation market with Amazon Academy" comment="subhead" text="Amazon enters the test preparation market with Amazon Academy">Amazon enters the test preparation market with <keyword id="10228746" type="UNKNOWN" weightage="20" keywordseo="Amazon-Academy">Amazon Academy</keyword></cmsannotation> The global e-commerce giant has made an entry into the edtech segment with the test preparation market. It launched Amazon Academy to help students prepare for the JEE (Joint Entrance Examination) to gain admission to engineering colleges. Amazon will offer learning material, live lessons as well as comprehensive assessments. “Amazon Academy aims to bring high quality, affordable education to all, starting with those preparing for engineering entrance examinations. Our mission is to help students achieve their outcomes while also empowering educators and content partners reach millions of students. Our primary focus has been on content quality, deep learning analytics and student experience. This launch will help engineering aspirants prepare better and achieve the winning edge in JEE,” said Amol Gurwara, Director, Education at Amazon India. <cmsannotation type="cmsannotation" annotationid="BYJU’S billion dollar acquisition" comment="subhead" text="BYJU’S billion dollar acquisition">BYJU’S billion dollar acquisition</cmsannotation> The $12 billion BYJU’S is set <a href="https://www.businessinsider.in/business/startups/news/heres-why-byjus-may-want-to-spend-a-billion-dollars-on-acquiring-aakash-educational-services/articleshow/80243456.cms">to acquire the brick and mortar preparatory services</a> institute Aakash Educational Services for a whopping $1 billion. If the deal goes through, it will become one of the biggest edtech deals in the world. While BYJU'S declined to comment on the matter, Aakash Educational Services Limited (AESL) confirmed that it is in talks with Byju's for building a strong partnership. "Putting these speculations to rest, we would like to state that AESL is on a mission to build India's largest digitally-enabled, omni-channel education company. We will accelerate our digital transformation and deliver phenomenal value to our students. We will rapidly expand our omni channel &amp; digital offerings, as we embark on the next trajectory of quality education &amp; growth," said the company. <cmsannotation type="cmsannotation" annotationid="Unacademy gets another $50 million" comment="subhead" text="Unacademy gets another $50 million"><keyword id="6630114" type="UNKNOWN" weightage="20" keywordseo="unacademy">Unacademy</keyword> gets another $50 million</cmsannotation> Another Indian edtech unicorn Unacademy has closed a secondary transaction worth $50 million. The deal saw Tiger Global, Dragoneer Investment Group, Steadview Capital, and General Atlantic increase their stake in the company by acquiring additional shares worth $50 million from previous investors. The startup had raised an undisclosed amount of funding in November, which valued the company at over $2 billion. In September, the five-year old startup had entered the unicorn club with a $150 million cheque from SoftBank. Unacademy had also raised funding from Facebook in February, the social media giant’s second direct investment in India. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/heres-why-byjus-may-want-to-spend-a-billion-dollars-on-acquiring-aakash-educational-services/articleshow/80243456.cms">Here's why BYJU’S may want to spend a billion dollars on physical coaching centres</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-has-reported-an-increase-of-20-8-in-its-profits-while-the-revenue-increased-by-3-4/articleshow/80250240.cms">Wipro has clocked in its widest margin in over five years</a>

Amazon enters the test preparation market, BYJU'S is in talks for a billion dollar acquisition, and Facebook-backed Unacademy raises more funds – a big day in India's edtech

<ul><li>India’s early tech companies like online travel aggregator platforms MakeMyTrip and Yatra, had listed in the <keyword id="6357328" type="UNKNOWN" weightage="20" keywordseo="nasdaq">Nasdaq</keyword>, years ago owing to the US’ friendly moves for technology companies.</li><li>Now, <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> may want to replicate the success of the American exchange, with India's Innovators Growth Platform.</li><li>The easing of listing regulations have come at a time when a whole host of Indian <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> like Zomato, Delhivery, Nykaa are headed for <keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword>.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider.</a></li></ul>With the Innovators Growth Platform (IGP), India’s stock market regulator Securities and Exchange Board of India (SEBI) may be trying to replicate the success of Nasdaq. The American exchange played an important role in helping technology startups, at the time, like Google, Facebook, Apple, Amazon and Netflix among others, to become the giants they are today. India’s early technology companies like online travel aggregator platforms MakeMyTrip and Yatra, had listed in the Nasdaq, many many years ago owing to the US’ friendly moves for technology companies. Even now, companies like ReNew Power and <a href="https://economictimes.indiatimes.com/tech/startups/grofers-listing-grofers-in-talks-with-cantor-fitzgeralds-spac-for-nasdaq-listing/articleshow/81181364.cms">reportedly</a> Grofers, are headed for the US public markets through a special-purpose acquisition company (SPAC). There are other companies like Zomato, Delhivery, and Nykaa plan their initial public offering (IPO), SEBI has initiated a bunch of measures, much like Nasdaq, that would make it easier and, therefore, encourage startups to make their market debut in India. "Everyone’s eager that the IGP can actually become like the Nasdaq of India,” Siddarth Pai, founding partner at 3one4 Capital and co-chair of the regulatory affairs committee at the Indian Venture Capital Association (IVCA) told <a href="https://economictimes.indiatimes.com/tech/newsletters/morning-dispatch/indias-nasdaq/articleshow/81698790.cms?UTM_Source=Google_Newsstand&amp;UTM_Campaign=RSS_Feed&amp;UTM_Medium=Referral">ET</a>. <cmsannotation type="cmsannotation" annotationid="Here are some of the changes introduced by the SEBI" comment="subhead" text="Here are some of the changes introduced by the SEBI">Here are some of the changes introduced by the SEBI</cmsannotation> – The holding period for pre-issue capital has been brought down from the existing two years to one year. This step will allow startups to make a discretionary allotment to eligible investors—a facility available to companies that list on BSE and NSE. – It has allowed for startups, that are headed for an IPO, to allocate up to 60% of the issue size to any eligible investor with a lock-in of 30 days on such shares. This is important as currently an issuer company isn’t allowed to make discretionary allotment. – An investor’s pre-issue shareholding can be considered for 25% of the pre-issue capital, instead of the current 10% limit. – It has also officially allowed Differential Voting Rights for listed companies in its board meeting which was held today. With Differential Voting Rights, companies whose promoters hold skill and talent to run the business can sell shares giving away their control in the company. <cmsannotation type="cmsannotation" annotationid="A great idea waiting for the execution test" comment="subhead" text="A great idea waiting for the execution test">A great idea waiting for the execution test</cmsannotation> Market participants are excited about the potential of this new platform. “Sebi is finally giving cognisance to the fact that IGP is going to be a mainstay for more sophisticated investors and hence [needs] a more light-touch regulation," Pai added. But the new platform still has to go through the test. “Bankers and potential issuers will scrutinise this route at more length before deciding to take this route, as currently, most startups focus is to list on the mainboard. The feasibility and traction of the IGP platform are yet to be tested and the benchmark for the same will get established by the first couple of contenders who chose to go through this route,” said Ankur Bansal, Co-founder and Director, at BlackSoil, an investment firm. Madhur Singhal, Managing Partner &amp; CEO, Praxis Global Alliance believes that the new rules will encourage startups to consider local listing, especially startups that are profitable and are already accessing the public markets and reaping success as shown by the recent IPO of Nazara. But still, there’s a long way to go. “While it is a step in the same direction, we are still far away from where US bourses are. We need a comprehensive framework for listing businesses that might still not be profitable. Several friction points like the ESOP framework and Angel investor tax treatment still need to be addressed for SEBI's vision to be fully realized,” Singhal told Business Insider. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/byjus-may-be-worth-15-billion-in-another-week/articleshow/81689880.cms">Indian edtech startup BYJU’S may be worth $15 billion in another week</a>

India is trying to create its own Nasdaq as whole host of startups get ready for IPO

<ul><li>The Department of Industrial Policy and Promotion held a roundtable meeting with industry leaders on February 4. </li><li>A working committee has been assigned to resolve the issues related to <keyword id="6406536" type="UNKNOWN" weightage="20" keywordseo="Angel-Tax">angel tax</keyword>. </li><li>According to a survey, 73% of <keyword id="982553" type="PERSON" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> have been served with angel tax notices. </li></ul>The Indian government is reportedly all set to take a decision on the angel tax issue that startups and investors alike have voiced against – within the next week. The step is expected to bring clarity to the country’s early stage entrepreneurs who say the rule has hurt their funding prospects. On Monday, the Department of Industrial Policy and Promotion (which recently got upgraded to be the Department for Promotion of Industry and Internal Trade) held a roundtable meeting with industry leaders from the Indian startup ecosystem to work on providing solutions for the angel tax issue, together. The meeting which was held with Indian Private Equity and Venture Capital Association (IVCA), angel investors and other leaders, saw the government take support from industry bodies to understand and implement changes that will be accepted by all. “We will form a smaller working group to come out with certain suggestions on resolving those issues in the next four-five days,” said Ramesh Abhishek, DIPP Secretary to the <a href="https://www.thehindubusinessline.com/economy/policy/working-group-to-examine-angel-tax-pain/article26176774.ece">media.</a> The angel tax issue had stirred up again after several startups were sent notices for the same. According to survey done by the IVCA, 73% of startups in India received <a href="https://yourstory.com/2019/02/indian-startups-angel-tax-notice/">Angel tax notices</a>. However, the DIPP secretary has said that no coercive action will be taken against these startups. In the last month, the government had introduced changes to tax laws under the Section 56(2) (vii b) of the Income Tax Act that will exempt ‘genuine’ investors in startups which are recognised by the DIPP. Till date, 15,278 startups have been recognised by the DIPP, while 129 startups have been funded under the Startup India program. Since the tax was introduced in 2012, Indian startups have claimed it has slowed down the funding at earlier stages because of the high tax rate. There have been several calls from the startup industry to remove the tax completely. The angel tax was added by the Indian government to prevent money laundering, however, over the years, entrepreneurs believe it has only become a hurdle in the funding stages. Siraj Dhanani, Co-Founder and CEO, InnAccel Technologies – which is into medtech manufacturing, told Business Insider previously, “Raising capital for startups working on affordable healthcare is already difficult, it is made more so by this angel tax, which is effectively a tax on Indian innovation." See Also: <a href="https://www.businessinsider.in/indian-government-just-added-a-lot-more-red-tape-for-startups-while-trying-to-fix-the-devilish-angel-tax/articleshow/67572452.cms">Indian government just added a lot more red tape for startups while trying to fix the devilish ‘angel tax’</a> <a href="https://www.businessinsider.in/indias-startups-wanted-a-breather-from-angel-tax-but-government-royally-ignored-them/articleshow/67794172.cms">Budget 2019 royally ignored India’s startups</a> <a href="https://www.businessinsider.in/the-indian-government-has-reportedly-invested-just-19-of-its-fund-dedicated-to-boosting-startups/articleshow/67323307.cms">The Indian government has reportedly invested just 19% of its fund dedicated to boosting startups</a>

Indian government to take a stand on angel tax within a week

<ul><li><keyword id="34499" type="POSITION" weightage="20" keywordseo="private-equity">Private Equity</keyword> and <keyword id="6357097" type="DEFINITION" weightage="20" keywordseo="Venture-Capital">Venture Capital</keyword> funding reached a new high in 2019 at $48 billion, said a report by Indian Private Equity and Venture Capital Association and Ernst &amp; Young. </li><li>The increase in <keyword id="6362476" type="UNKNOWN" weightage="20" keywordseo="investments">investments</keyword> comes even when the Indian economy was facing a slowdown. </li><li>A big chunk of increased volumes came from SoftBank – which made investments in OYO, Delhivery, Grofers among others in 2019. </li></ul>Private Equity and Venture Capital funding reached a new high in 2019 at $48 billion, according to a report by Indian Private Equity and Venture Capital Association and Ernst &amp; Young. This is in spite of the fact that India was in the throes of a slowdown last year. While the deal value increased by 28%, deal volume went up by 35% year-on-year. 
 
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 “The growth in infrastructure sector more than compensated for the decline in traditional PE/VC investments (in sectors excluding infrastructure and real estate) that recorded a decline of 3% on a year-on-year (y-o-y) basis in terms of value,” said the IVCA and <keyword id="267073" type="ORGANIZATION" weightage="20" keywordseo="EY">EY</keyword> report. However, a report by <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/vcs-start-the-new-year-with-7-billion-capital-left-to-invest/articleshow/74432663.cms">Bain &amp; Company</a> states that Indian VCs alone were left with a whopping $7 billion to invest, as they began 2020. “Despite the global economic climate, India’s startup and VC ecosystems continue to thrive as investors take a long-term view based on the country’s growth potential. They see the current slowdown as more cyclical than structural,” the annual report stated. <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">Startups</keyword> take the cherry on the cake Indian startups raised a whopping $7.9 billion in 2019, a 22% jump from the $6.5 billion raised in 2018. Deal value increased by 61%, with 610 deals in 2019 as compared to 378 deals in 2018. Startups formed 16.4% of the total PE/VC funding and a big thanks for the rise in volumes goes to SoftBank – the Japanese investment firm which made investments in OYO, Delhivery, Grofers among others in 2019. The biggest deals were SoftBank’s investment in OYO, Grofers along with Udaan and Delivery which brought them into the unicorn club. 
 
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 Over the last five years the Indian startup ecosystem has diversified into newer areas. According to the report, until five years ago, investments in startups were dominated by technology and e-commerce sectors. “In terms of number of deals, the share of e-commerce and technology in the start-up investment space has declined from 62% in 2015 to 35% in 2019. On the other hand, the share of financial services in the total number of start-up deals has increased from 7% in 2015 to 16% in 2019,” said the report. The opportunity only gets bigger in India. According to a Goldman Sachs report, the Indian internet industry will be worth $160 billion by 2025 – three times its current value. Indian VC firms are looking at the right investments that will place them in a sweet spot by 2025. According to a <a href="https://www.livemint.com/companies/news/vc-investment-in-india-expected-to-remain-strong-kpmg-11570791312169.html">KPMG report</a>, VC investments in India are is set to remain strong through the first quarter of 2020. See Also: <a href="https://www.businessinsider.in/business/news/india-internet-industry-goldman-sachs-investment-ideas-for-future/articleshow/72326122.cms">2020 is the time to bet on India’s internet industry which will be worth $160 billion in 5 years</a>

PE and VC funding stood at $48 billion in 2019, but Venture Capitalists began 2020 with $7 billion left to invest

<ul><li><keyword id="7772275" type="UNKNOWN" weightage="20" keywordseo="Mumbai-Fintech-Hub">Mumbai Fintech Hub</keyword> has launched an investment platform <keyword id="6384865" type="UNKNOWN" weightage="20" keywordseo="Find">FinD</keyword>. </li><li>India has over 2,000 <keyword id="2461546" type="PERSON" weightage="20" keywordseo="FinTech">fintech</keyword> startups with most of them based out of <keyword id="6358070" type="DEFINITION" weightage="20" keywordseo="mumbai">Mumbai</keyword> and <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword>.</li><li><keyword id="6356172" type="UNKNOWN" weightage="20" keywordseo="Maharashtra-government">Maharashtra government</keyword> had launched a fintech policy in February 2018. </li></ul>Mumbai Fintech Hub, an initiative of the Maharashtra Government, has announced the launch of an investment platform called FinD. The platform aims to bridge partnerships between fintechs, investors and partners; and boost investment. “FInD is yet another initiative by Mumbai FinTech Hub to foster our vision of making Mumbai a global FinTech Hub. The unique value provided by the programme makes it crucial for all stakeholders involved, and helps unleash the true potential of India’s FinTech ecosystem,” said Suniti Nanda, Chief FinTech Officer, Mumbai FinTech Hub. Mumbai is the financial capital of India, and is home to a host of fintech startups. According to a <a href="https://yourstory.com/2019/03/india-second-biggest-fintech-hub-ld0slui9fn">report </a>in March 2019, India has over 2,000 fintech startups with most of them based out of Mumbai and Bengaluru, making the country the world’s second biggest fintech centre. “Providing access to capital and global or home-grown investors will eventually put us on the world map for fostering next-gen innovation and creating globally competent firms,” said Nanda. This investment platform is powered by PriceWaterhouseCoopers (PwC) and Medici with other partners like Aimcrest, NASSCOM, IVCA (Indian Venture Capital Association), among others. In February 2018, the Maharashtra government <a href="https://www.livemint.com/Politics/hRG81g8w6hvgFBEfCAwCAJ/Maharashtra-government-unveils-financial-technology-policy.html">announced</a> a fintech policy under which the state would facilitate startups with a ₹2 billion fund to be one of the top five fintech hubs in the world. According to the website, it has made way for 500 jobs in fintech sector. The Andhra Pradesh government too but an ecosystem for startups at Fintech Valley Vizag in the coastal city, in December 2016. The state had also held a fintech festival to promote innovation. See Also: <a href="https://www.businessinsider.in/these-are-the-top-fintech-hubs-in-india-bangalore-mumbai-leads-the-race/articleshow/68882150.cms">These are the top Fintech hubs in India — Bangalore, Mumbai leads the race</a>

Maharashtra Government launches an investment platform for fintech startups

Warding off concerns over Indian economy and its business environment by rating agencies Moody’s and <keyword id="82981" type="CITY" weightage="20" keywordseo="Fitch">Fitch</keyword>, the <keyword id="2730532" type="UNKNOWN" weightage="20" keywordseo="NaMo-government">NaMo government</keyword> reiterated that India continues to be a bright spot and has a “very robust” macroeconomic foundation for growth in place. 
	 According to a report by ET, Minister of State for Finance, <keyword id="2929181" type="PERSON" weightage="20" keywordseo="Jayanta-Sinha">Jayanta Sinha</keyword> also assured the investors that the government was prepared to deal with any aftermath of the Greek crisis. 
	 
	"We have been able to put in place a very robust macroeconomic foundation for growth going forward. Macroeconomic indicators were very very toxic. Despite the global volatility that we are seeing right now, India is a rare bright spot. So, we have addressed underlying macroeconomic instability that we had. We have put in place road map of reforms," he said at an IVCA (Indian Private Equity and Venture Capital Association) event. 
	 
	Explaining his point, he further added that the government is focusing on executing three important agenda -- banking reforms, GST and macro-economic stability -- in the remaining 3-4 years. 
	 
	"Now our focus has shifted very much to execution agenda for remaining 3-4 years. We will have to push this forward. We will have to focus on execution agenda," he averred. 
	 It should be noted that global rating agency <keyword id="6462970" type="CITY" weightage="20" keywordseo="Moodys">Moody's</keyword> expressed disappointment over policy stagnation under the NaMo government while Fitch lowered India's growth forecast to 7.8%.

You Searched For "ivca report" and got 7 results

Vedantu acquires Instasolv, a doubt-solving app – the latest in buzzing edtech acquisitions in India

Sanchita Dash

Amazon enters the test preparation market, BYJU'S is in talks for a billion dollar acquisition, and Facebook-backed Unacademy raises more funds – a big day in India's edtech

Sanchita Dash

India is trying to create its own Nasdaq as whole host of startups get ready for IPO

Sanchita Dash

Indian government to take a stand on angel tax within a week

Sanchita Dash

PE and VC funding stood at $48 billion in 2019, but Venture Capitalists began 2020 with $7 billion left to invest

Sanchita Dash

Maharashtra Government launches an investment platform for fintech startups

Sanchita Dash

Following Moody’s and Fitch concerns, NaMo Govt calls out to India a bright spot

BI India Bureau