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<ul><li><keyword id="6639102" type="UNKNOWN" weightage="20" keywordseo="Drip-Capital">Drip Capital</keyword>, the Palo Alto and Mumbai-based company, which helps exporters in financing their global trade, has raised $25 million in a series B round. </li><li>The investment was led by Accel with participation from existing investors <keyword id="563136" type="ORGANIZATION" weightage="20" keywordseo="Sequoia-India">Sequoia India</keyword>, Wing VC, and Y Combinator.</li><li>The total funding raised by the startup so far stands at $100 million.</li></ul>Fintech platform Drip Capital which helps SMEs navigate global trade, has raised $25 million in a series B round of funding. The investment was led by Accel with participation from existing investors Sequoia India, Wing VC, and Y Combinator. It also saw new investors GC1 Ventures and institutional investor platform Trusted Insight chip in. Drip Capital, which is based in Palo Alto and Mumbai, helps entrepreneurs and businesses with the working capital necessary to grow their business. It finances small exporters who want to expand to newer markets. “Trade finance is an age-old paper-based industry dominated by banks that primarily focus on large, established corporate customers. Hence, small businesses, despite accounting for 50% of merchandise exports from India, remain largely neglected. Our mission is to level the playing field for these small business exporters, not just in India but across emerging markets around the world.” says Pushkar Mukewar, Co-Founder and Co-CEO, Drip Capital. So far, the startup raised $45 million of equity and $55 million of debt, taking its total funding to $100 million. With this investment, the global trade finance company will also enter Mexico and UAE markets. According to the company, Drip Capital has financed over $500 million worth cross-border trade originating from India. It now aims to cross $1billion by FY 2020, becoming the de-facto trade finance provider for Indian exporters.

Fintech startup Drip Capital raises $25 million from Accel, to enter Mexico and UAE

New Delhi, Mar 13 () Exports of 1,945 Indian products, which were availing duty incentives under the GSP scheme of the US, has recorded a growth of 5 per cent to USD 5.47 billion during June-December 2019 period, Parliament was informed on Friday. Benefits under Generalised System of Preferences (GSP) were rolled back by the US in June last year.Under the GSP programme, 1,945 products including auto components and textile materials used to get duty-concessions in the American markets."India's exports to the US, which were under the GSP lines have shown an increase of 5 per cent in the period of June-December 2019 as compared to the corresponding period of previous year i.e., from June-December 2018 (USD 5.2 billion), when GSP benefits were there," Commerce and Industry Minister Piyush Goyal said in a written reply to the Rajya Sabha. He also said that the average duty benefits accrued to exporters and importers on account of US GSP benefits were 3.8 per cent, which varied across the products. On February 10 this year, the US has also removed India from the lost of developing countries for the purpose of countervailing investigations under the WTO's Agreement on Subsidies and Countervailing Measures. In a separate reply, the minister said exports of these 1,945 product to the US grew by 13 per cent in 2018 to USD 6.37 billion as against USD USD 5.76 billion in 2017, USD 4.74 billion in 2016 and USD 4.62 billion in 2015. In an another reply on start-ups, Goyal said as on February 28 this year, as many as 320 startups received Rs 3,378 crore funding under the Fund of Funds of the ministry. "Indian startups are increasingly attracting foreign investments," he said adding till February 29 this fiscal, they have attracted Rs 2,077 crore and Rs 1,733 crore in 2018-19 and Rs 1,209 crore in 2017-18. RR MRMR

Exports of 1,945 products to US grow by 5pc in Jun-Dec sans GSP incentives

New Delhi, Jan 31 () Contraction in domestic revenue growth "softened" the overall pace of revenue growth of the IT-BPM sector to 6.8 per cent in 2018-19 from 8.2 per cent in the previous year, the Economic Survey said on Friday.
 Nearly 83 per cent of the IT-Business Process Management (BPM) industry continues to be export-driven, with export revenues crossing USD 135 billion in 2018-19, it said.
 "During 2018-19, the revenue growth (y-o-y) for IT-BPM sector (excluding hardware) softened to 6.8 per cent from 8.2 per cent in 2017-18. This was driven by a contraction of 0.3 per cent in domestic revenue growth even as export revenue growth accelerated to 8.3 per cent," it added.
 Of the total USD 135.5 billion of exports of the IT-BPM sector in 2018-19, IT services accounted for 55 per cent, and BPM and software products &amp; engineering services for the remaining 45 per cent (with each accounting for almost half of the share).
 "All three sub-sectors witnessed a pick-up in export revenues in 2018-19, with IT services growing (year-on-year) by 7.3 per cent, BPM services by 8.3 per cent and software products and engineering services by 11.2 per cent," it added.
 The survey termed the Indian IT-BPM industry as the flag-bearer of India's exports over the past two decades, and noted that the industry size has reached about USD 177 billion in March 2019.
 It also noted that the sector had contributed significantly to the economy by way of employment generation and value addition.
 It said the Indian start-up ecosystem has been progressing and is now the third largest in the world with 24 unicorns, but added that its gap with the largest (China at 206) and second largest (USA at 203) markets "remains significant".
 Cities such as Bengaluru, Delhi-NCR and Mumbai account for around 55 per cent of the total start-ups in India, it said citing industry data. SR MBI MBI HRS

Contraction in domestic revenue growth softened IT-BPM sector growth in FY19: Survey

New Delhi, Feb 7 () The domestic production and exports of refined copper have declined since May 2018 due to the closure of copper smelter plant of Vedanta Ltd at Tuticorin in Tamil Nadu, Parliament was informed on Friday. Commerce and Industry Minister Piyush Goyal said that during April-November 2019, imports and exports of refined copper stood at 1,09,324 tonne (USD 684.02 million) and 18,300 tonnes (USD 106.35 million), respectively. "The domestic production and exports of refined copper have declined largely due to the closure, since May 2018, of the copper smelter plant of Vedanta Ltd at Tuticorin, Tamil Nadu, which has an annual production capacity of 4 lakh tonnes per annum," Goyal said in a written reply to the Rajya Sabha. He said Vedanta Ltd has filed a writ petition in February 2019 before the Madras High Court challenging the orders of the state government of Tamil Nadu and the Tamil Nadu Pollution Control Board, and the matter is sub-judice. In a separate reply, he said the Department for Promotion of Industry and Internal Trade (DPIIT) has recognised 27,916 start-ups, as on February 1 this year. "800 start-ups have been recognised in Rajasthan by the DPIIT as on February 1," he added. RR HRS

Production, exports of refined copper dip due to closure of Vedanta's plant in Tamil Nadu

Amid a shrinking domestic market, startup companies in <keyword id="6355311" type="General" weightage="80" keywordseo="japan" source="Orion">Japan</keyword> are starting to look to invest overseas, reports NHK World. For instance, the tech company <keyword id="2658366" type="General" weightage="50" keywordseo="opn" source="Orion">Opn</keyword> developed a system for restaurant customers to order and pay by smartphone. It has expanded to Southeast Asia. In November this year, it acquired a US firm with an eye on the North American market, reported NHK World. <keyword id="15973516" type="General" weightage="50" keywordseo="hasegawa-jun" source="Orion">Hasegawa Jun</keyword>, CEO of Opn said, "It's critical for every firm to find a market that can facilitate its growth and then try to break in," as Japanese startups cannot survive in the domestic market alone. Underscoring the rise in labour costs, another Japanese startup firm has decided to sell robots that prepare food such as soba noodles. It also wants to export a model that makes French fries to the US, reported NHK World. The Japan External Trade Organization supported startups that want to enter foreign markets. It said that in the fiscal year that ends in March over 120 companies are taking part, which is more than double the figure from two years ago, reported NHK World. Not only the startups, but the Japanese Government too is looking to spread its economic footprints in South Asia. <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> has become one of the favourite destinations owing to a shared common heritage of Buddhist ideals and a strong people-to-people bond that goes beyond economic alliances. The India-Japan relationship is manifested in multi-cornered cooperation and in the ever-widening scope of the bilateral alliance. The Delhi Metro - one of the largest metro networks in the world - recently commemorated 20 years of its operations. Japan has provided India with financial and technological assistance in developing several metro corridors. In another undertaking between India and Japan, the two sides have collaborated to manufacture India's first bullet train. With nearly 25 per cent of the work completed, India's first bullet train is expected to hit the tracks by 2027. The trade imbalance has been narrowed between India and Japan gradually with Indian exports to Japan rising each year, which primarily include petroleum products, chemicals, and elements. As per the India Ministry of External Affairs, the bilateral trade between India and Japan for Financial Year 2021-22 totalled USD 20.57 billion. India's exports to Japan amounted to USD 6.18 billion while India's imports from Japan amounted to USD 14.39 billion. On his visit to India last year, Prime Minister <keyword id="1499440" type="General" weightage="50" keywordseo="fumio-kishida" source="Orion">Fumio Kishida</keyword> announced a USD 42 billion investment in India within the next five years. Experts say Japanese power corridors consider India to be one of the most reliable partners in the world. With 14 bilateral premier-level summits, a continuous flow of people and tech, and uniquely integrated yet individual strategies to counter global threats, Indian-Japanese ties have become a curious case study for observers around the world. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/from-0-to-100-million-in-5-years-thats-how-long-startups-founded-in-2017-took-to-scale-up-says-redseer-report/articleshow/96739954.cms">From 0 to $100 million in 5 years – That’s how long startups founded in 2017 took to scale up, says Redseer report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/total-vehicle-retail-sales-jump-15-pc-to-2-11-crore-units-in-2022-fada/articleshow/96753919.cms">Total vehicle retail sales jump 15 pc to 2.11 crore units in 2022: FADA</a>

Japanese startups look overseas as domestic market shrinks

New Delhi, Nov 16 () Startup firm Connect2India on Saturday said it has partnered with Ncourage Social Enterprise Foundation, a subsidiary of Tata Chemicals, to export and market Tata Swach water purifier globally.
 Connect2India founder and CEO Pawan Gupta said the company will focus upon expanding the global market distribution and export of water purifiers. 
 "It is a great opportunity for us to partner with Ncourage Social Enterprise Foundation to export and market Tata Swach globally," he said in a statement.
 He said that on the basis Connect2India's data-driven market research and trade counterparts available on its integrated platform, "we plan to reach out to our existing worldwide trade counterparts as well as identify potential newer markets for setting up trade channels for this water purifier product".
 According to Connect2India's trade insights, the export of water purifiers from India was USD 138 million and the worldwide export of water purifier was USD 8.6 billion in the last year. 
 With a focus on sanitation and safe water access for all across the world, the market for water purifiers is expected to grow exponentially, he said.
 Connect2India (https://connect2India.com) is an end-to-end online marketplace for global trade that enables SMEs to effectively arrange and execute export/import orders from worldwide companies. RR MR
MR

Connect2India joins hands with Tata Chemicals arm for taking Swach purifier to global markets

<div class="image-container float_right" style="width:400px"><div class="image"></div>Business Insider/Julie BortBillGuard's community manager Marina Boykos left the U.S. to work at an Israeli startup in Tel Aviv</div><keyword id="6355882" type="COUNTRY" weightage="60" keywordseo="israel">Israel</keyword> calls itself the "<a href="http://startupnationbook.com/">startup nation</a>." Israelis say that technology is the country's No. 1 export.
By some counts, Israel is home to 4,800 <keyword id="6362513" type="ORGANIZATION" weightage="60" keywordseo="Startups">startups</keyword> today. It's also home to least two dozen accelerator/incubator programs in the Tel Aviv area, alone, including some run by Microsoft and Google.
There are more incubators in other cities, too, including a program in Jerusalem run by Jerusalem Venture Partners on a campus so big it has its own restaurant and nightclub. 
All of this is to say that as a startup hub, Israel is second only to Silicon Valley.
So it's not easy to name the nation's hottest, most exciting startups because everywhere you turn there are young companies doing really cool things.
Business Insider recently spent a week exploring Israel's super hot startup community, meeting with founders, employees and venture capitalists. 
(Disclosure: Microsoft and Jerusalem Venture Partners paid some of the travel expenses for this trip.)
We asked everyone to name the nation's coolest, hottest startups.

The 20 Hottest Startups From Israel

<ul><li>India’s ministry of commerce and industry has launched an online export awareness course to support future exporters. </li><li>The government also reportedly launched an app dedicated to update exporters on trade practices and share their grievances. </li><li>The online course is launched in collaboration with Indian Institute of Foreign Trade (IIFT).</li></ul>In a bid to boost international trade opportunities for potential exporters in India, the Ministry of Commerce and Industry has <a href="https://www.financialexpress.com/industry/sme/government-launches-online-course-app-to-support-potential-exporters/1490218/lite/">launched</a> an export awareness course. Once the course is complete, candidates will be awarded certificates in export-import management by the government under the ‘Niryat Bandhu Scheme’. The program titled, 'Anytime-Anywhere,’ is a reportedly a joint effort between the government and Indian Institute of Foreign Trade (IIFT). Commerce and industry minister, Suresh Prabhu reportedly said that the course is aimed at training, mentoring and supporting prospective exporters and traders in India. Stressing the need for spreading awareness on trade, commerce secretary Anup Wadhawan reportedly said the government has been able to stem decline in exports hurting the Indian market by facilitating trade combined with the growing technology and implementation of goods and services tax (GST). India’s Directorate General of Foreign Trade (DGFT), responsible for fostering the exports sector, is also trying to make the export sector more digital-savvy. According to Director General, Alok Chaturvedi, the DGFT has <a href="https://knnindia.co.in/news/newsdetails/sectors/prabhu-launches-anytime-anywhere-export-awareness-course-to-hand-hold-exporters">reportedly</a> approved to rebuild its entire IT infrastructure to go paperless and attain end-to-end IT enablement. It has also launched a DGFT's mobile app dedicated to trade practices, for a smooth sailing of the process. The app is designed as a communication platform that will let exporters apply for licences and stay updated on latest trade notices including <keyword id="35067" type="ORGANIZATION" weightage="20" keywordseo="foreign-trade-policy">Foreign Trade Policy</keyword> and international trade affairs. According to<a href="http://pib.nic.in/newsite/PrintRelease.aspx?relid=188641"> media reports</a>, <keyword id="147907" type="PERSON" weightage="20" keywordseo="Indias-exports">India's exports</keyword> faced a major slowdown in trade in the recent years. However, in the last three years, the country witnessed a slight increase in exports reaching $26.36 billion in January compared to $25.4 billion last year during the same time. See also: <a href="https://www.businessinsider.in/indian-government-maintains-ban-on-foreign-investments-in-multi-brand-retail/articleshow/67375565.cms">Indian government maintains ban on foreign investments in multi-brand retail</a> <a href="https://www.businessinsider.in/the-indian-government-may-roll-back-tax-on-angel-investments-that-is-said-to-be-hurting-the-countrys-startup-ecosystem/articleshow/67177981.cms">The Indian government may roll back a tax on angel investments that is said to be hurting the country’s startup ecosystem</a> <a href="https://www.businessinsider.in/india-to-make-a-renewed-push-for-an-important-regional-trade-treaty-that-will-create-the-worlds-largest-trading-bloc/articleshow/66602874.cms">India to make a renewed push for an important regional trade treaty that will create the world’s largest trading blo</a>

Fancy a career in exports? Indian government is offering an export awareness course

New Delhi, Automobile manufacturer <keyword id="1381889" type="COMPANY" weightage="20" keywordseo="Honda-Cars-India">Honda Cars India</keyword> (HCIL) on Thursday said it will export the recently launched 5th generation of <keyword id="31353" type="LOCATION" weightage="20" keywordseo="Honda-city">Honda City</keyword> to '<keyword id="10666519" type="UNKNOWN" weightage="20" keywordseo="left-hand-drive">Left Hand Drive</keyword>' <keyword id="6407494" type="UNKNOWN" weightage="20" keywordseo="countries">countries</keyword>. Accordingly, the company has begun the export of 5th Gen <keyword id="20630" type="COMPANY" weightage="20" keywordseo="Honda">Honda</keyword> City with the dispatch of initial batch to Middle East countries from the Pipavav port in Gujarat and Ennore port in Chennai. Till now, HCIL has been exporting the 'Right Hand Drive' <keyword id="6404377" type="UNKNOWN" weightage="20" keywordseo="models">models</keyword> of the 'All New City' to South Africa since August 2020 and neighbouring countries of Nepal and Bhutan from Oct 2020. "We have invested in creating an expansive world-class manufacturing facility at Tapukara which can produce both right hand and left hand drive models that allows us to manage demand for domestic and international consumers," said Gaku Nakanishi, President &amp; CEO, Honda Cars India. "This is in line with our commitment towards 'Make in India' where HCIL has been manufacturing all its volume models with more than 90 per cent localisation and has been integral in developing a strong ecosystem in the country." HCIL has been exporting models including Amaze, WR-V and City to Nepal, Bhutan, South Africa and SADC countries. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/indian-grooming-startup-bombay-shaving-company-gets-45-crore-investment-from-dettol-maker-reckitt-benckiser/articleshow/80491558.cms">Indian grooming startup Bombay Shaving Company gets ₹45 crore investment from Dettol maker Reckitt Benckiser</a> <a href="https://www.businessinsider.in/budget/news/india-needs-to-add-massive-amount-of-solar-and-wind-power-capacity-this-year-to-meet-its-first-target/articleshow/80496138.cms">India needs to add massive amount of solar and wind power capacity this year to meet its first target</a>

Honda to export new City 2020 from India to left-hand drive markets

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Over the past week, 1776, <a href="http://www.businessinsider.com/1776-startup-incubator-2015-1">a startup incubator focused on public good</a> brought startups from 16 cities in 11 countries to Washington D.C. to compete in the <a href="http://www.1776.vc/challenge-cup/">Challenge Festival</a>.The week-long startup competition focused on four areas of public innovation: education, energy &amp; sustainability, health, and transportation.Unlike other well-known incubators and seed funds, 1776 solely funds startups that are focused on making a major impact in heavily regulated industries. At the Challenge Festival, startups like as <a href="http://1776dc.us9.list-manage.com/track/click?u=c572b47cc798dd3d0847c9fea&amp;id=b15a6dbbb3&amp;e=9e1b2c06ba" target="_blank">BaseTrace</a>, which "uses DNA-based tracers to track where industrial fluids are going in large, complex environments" and <a href="http://1776dc.us9.list-manage.com/track/click?u=c572b47cc798dd3d0847c9fea&amp;id=5fceb6cd8b&amp;e=9e1b2c06ba" target="_blank">Reliefwatch</a>, a cloud-based system that uses smartphone technology to track inventory and diseases for healthcare organizations in the developing world, battled it out on stage for a grand prize of $150,000 in investment. <a href="http://twigafruits.com/">Twiga Fruits</a>, a Kenya-based startup that builds fair and sustainable distribution systems to export fresh fruit from the country without going through a middleman. The company aims to treat farmers fairly while helping to distribute their goods to the widest network. Twiga Fruits is currently Kenya's leading exporter of bananas, pineapples and avocados<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>"Over the past six months, we've traveled the globe to find the world's most promising startups working to develop innovative solutions to fundamental challenges in education, energy &amp; sustainability, health, and cities &amp; transportation," says Donna Harris, co-founder of 1776. "After going against stiff competition throughout the Challenge Cup, Twiga Fruits emerged tonight as this year's most promising, problem-solving startup, and we look forward to helping them innovate and improve the Transportation &amp; Cities industry for years to come."<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Along with fresh funding, Twiga Fruits and other finalists will receive the "swat team" of support from mentors, government officials, and institutional market partners that 2-year-old 1776 has become known for. Here are a few of the other finalists:<ul><li><a href="http://1776dc.us9.list-manage.com/track/click?u=c572b47cc798dd3d0847c9fea&amp;id=ebb34e759b&amp;e=9e1b2c06ba" target="_blank">Cognotion</a> identifies talent, delivers functional utilization of knowledge, and decreases employee churn rate by using gaming and video tools to teach entry level millennials about personal finance.</li></ul><ul><li><a href="http://1776dc.us9.list-manage1.com/track/click?u=c572b47cc798dd3d0847c9fea&amp;id=3e5f92b8fe&amp;e=9e1b2c06ba" target="_blank">Handsfree Learning</a> helps students, teachers, and institutions learn and teach hands-on technical skills by applying a range of hardware and software solutions to expand possibilities in subjects like dentistry, medicine, culinary arts, fine arts, cosmetology, and lab sciences. </li></ul><ul><li><a href="http://1776dc.us9.list-manage.com/track/click?u=c572b47cc798dd3d0847c9fea&amp;id=6685daa913&amp;e=9e1b2c06ba" target="_blank">LearnLux</a> creates online learning tools to teach people personal finance and allows companies to empower their employees to become financially autonomous by giving them the skills and knowledge they need to make the best financial decisions. </li></ul><ul><li><a href="http://1776dc.us9.list-manage1.com/track/click?u=c572b47cc798dd3d0847c9fea&amp;id=cdfc3522f4&amp;e=9e1b2c06ba" target="_blank">Radiator Labs</a> uses a unique patent-pending product offering to improve radiator's heating efficiencies and turn them into smartphone-controlled climate systems.</li></ul><ul><li><a href="http://1776dc.us9.list-manage.com/track/click?u=c572b47cc798dd3d0847c9fea&amp;id=2adf789432&amp;e=9e1b2c06ba" target="_blank">Unima</a> is a biotechnology startup that developed a fast and low-cost diagnostics technology for global health data collection and analytics in real time. </li><li><a href="http://1776dc.us9.list-manage1.com/track/click?u=c572b47cc798dd3d0847c9fea&amp;id=feb5f71306&amp;e=9e1b2c06ba" target="_blank">EverCharge</a> has created a proprietary device and service for drivers of electric vehicles who park in common-area garages, enabling users to charge their vehicles at their convenience.</li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/mathematical-breakdown-uber-vs-taxis-money-transportation-2015-4">We did the math: Is Uber really cheaper than a taxi? </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Zmc3Z1cDoefsaxh4d9RwdpJj_TkDZlTs" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

These startups from around the world are innovating their way to a better world

The Indian technology industry crossed the $200 billion in overall revenue for the first time, and is set to reach $227 billion in overall revenue in FY2022 -- with a growth rate of 15.5 per cent which is the highest-ever since 2011, the IT industry's apex body <keyword id="6372077" type="General" weightage="100" keywordseo="nasscom" source="Orion">Nasscom</keyword> said on Tuesday. The <keyword id="3199326" type="General" weightage="20" keywordseo="Indian-tech-industry" source="Orion">Indian tech industry</keyword> clocked double-digit growth across sub-sectors, adding $30 billion in revenues in FY2022 and nearly 450,000 jobs. "Fiscal 2022 has been a breakthrough year for the Indian technology industry. We are excited about the opportunities in the 'Techade' as we enter an era of exponential transformation and technology becomes indispensable to progress," said <keyword id="2989513" type="General" weightage="20" keywordseo="Rekha-M-Menon" source="Orion">Rekha M. Menon</keyword>, Chairperson, Nasscom. While the IT Services vertical is set to clock $116 billion in revenue in FY2022, the BPM sector is set to log $44 billion; ER&amp;D vertical $36 billion; hardware segment $17 billion and software products, $13 billion. Exports (including hardware) recorded a growth of 17.2 per cent clocking revenue of $178 billion which is over 51 per cent share of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s total services exports, said the Nasscom report. Ecommerce recorded a growth of 39 per cent to reach $79 billion in 2021-22. Digital revenue share stood at 30-32 per cent, recording an incremental revenue of $13 billion. "While exports did play a large part in this growth, domestic market emerged as a great propeller, nearing a total of $50 billion owing to India's tech adoption with public digital platforms like Aadhaar, UPI and CoWIN playing a large part in delivering citizen services," said <keyword id="875687" type="General" weightage="20" keywordseo="debjani-ghosh" source="Orion">Debjani Ghosh</keyword>, President, Nasscom. India emerged as a global hub for digital talent with over five million tech workforce. With one out of three employees already digitally skilled, the digital tech talent pool is at 1.6 million, growing at a CAGR of 25 per cent. With massive focus on reskilling and upskilling, the Indian tech industry reskilled approximately 280,000 employees in FY2022, said the IT industry's apex body. With over 36 per cent of women employees, the Indian tech industry is one of the largest private-sector women employers in India with over 1.8 million women in the workforce. India continues to be the third largest startup hub in the world with over 25,000 tech start-ups and witnessing 42 new unicorns and 11 IPOs in the year 2021. Over 2,250 tech start-ups were founded in 2021 and a total highest-ever funding of $24 billion was raised in 2021. The industry also witnessed maturity in the software products segment with the presence of over 2,000 software product companies and 1,000 SaaS companies in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/poco-m4-pro-5g-vs-realme-8s-5g-price-specs-features-compared/slidelist/89588692.cms">Poco M4 Pro 5G vs Realme 8s 5G — Price, specs and features compared</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/best-scooters-and-bikes-in-india-under-1-lakh/slidelist/89588060.cms">Best scooters and bikes in India under ₹1 lakh</a>

Indian tech industry to reach $227 billion in revenue in FY22, reveals Nasscom report

India has set a target to achieve a turnover of Rs 1.75 lakh crore ($25 billion) including export of Rs 35,000 Crore ($ 5 billion) in aerospace and <keyword id="8127101" type="UNKNOWN" weightage="20" keywordseo="defence-goods">defence goods</keyword> and services by 2025. This is part of the <keyword id="9693161" type="UNKNOWN" weightage="20" keywordseo="draft-defence-production">draft Defence Production</keyword> and Export Promotion Policy (DPEPP 2020) announced on Sunday. Defence Minister <keyword id="6355121" type="PERSON" weightage="20" keywordseo="Rajnath-Singh">Rajnath Singh</keyword> announced the draft policy through a tweet on Monday. "In order to provide impetus to self-reliance in Defence manufacturing and to position India amongst the leading countries of the world in Defence and Aerospace sectors, a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020) has been formulated," he said. In implementing such framework and to position India amongst the leading countries of the world in defence and aerospace sectors, <keyword id="6369097" type="COMPANY" weightage="20" keywordseo="ministry-of-defence">Ministry of Defence</keyword> (MoD) has formulated a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020). The DPEPP 2020 is envisaged as overarching guiding document of MoD to provide a focused, structured and significant thrust to defence production capabilities of the country for self-reliance and exports. The policy proposes to develop a dynamic, robust and competitive defence industry, including <keyword id="9694649" type="COMPANY" weightage="20" keywordseo="aerospace-and-naval-shipbuilding">aerospace and naval shipbuilding</keyword> industry to cater to the needs of armed forces with quality products. It also seeks to reduce dependence on imports and take forward "Make in India" initiatives through domestic design and development. The policy's aim is to promote export of defence products and become part of the global defence value chains. It emphasizes creation of an environment that encourages R&amp;D, <keyword id="9694650" type="UNKNOWN" weightage="20" keywordseo="rewards-innovation">rewards innovation</keyword>, creates Indian IP ownership and promotes a robust and self-reliant defence industry. The policy brings out multiple strategies under the focus areas of procurement reforms, indigenization and support to MSMEs/startups, optimize resource allocation, investment promotion, FDI and Ease of Doing business, innovation and R&amp;D, DPSUs and OFB, quality assurance and testing infrastructure and export promotion. The vision as stated in the policy is "To make India amongst the leading countries of the world in Defence sector, including Aerospace and Naval Shipbuilding sectors, from design to production, with active participation of public and private sector and thus fulfilling the twin objectives of self-reliance and exports". SEE ALSO: <a href="https://www.businessinsider.in/tech/news/mark-zuckerberg-and-jeff-bezos-got-14-billion-richer-in-a-single-day-as-facebook-and-amazon-shrugged-off-the-coronavirus-recession/articleshow/77333152.cms" data-type="tilCustomLink">Mark Zuckerberg and Jeff Bezos got $14 billion richer in a single day as Facebook and Amazon shrugged off the coronavirus recession</a> <a href="https://www.businessinsider.in/business/corporates/news/dgca-asks-spicejet-to-stop-ticket-sale-offer-as-govt-imposed-fare-limits-are-in-place/articleshow/77333769.cms" data-type="tilCustomLink">DGCA asks SpiceJet to stop ticket sale offer as govt-imposed fare limits are in place</a>

Draft defence policy aims to achieve ₹1.75 lakh crore turnover by 2025

ChartMogul<ul class="summary-list"><li>As more companies turn to subscription-based models, measuring revenue and performance relies on things like renewals and churn.</li><li>Data analytics startup ChartMogul hopes to be the go-to data platform for subscription businesses to manage and analyze their revenues and customer behavior.</li><li>From software-as-a-service companies to meditation apps, ChartMogul's clients vary, but they all have one thing in common: a need to consolidate data sources in one place.</li><li>Going forward, ChartMogul is focused on integrations with customer-focused analytics platforms like Segment and Salesforce so it can export and apply the data it collects to a company's growth strategy.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Click here for more BI Prime stories</a>.</li></ul>The subscription economy is booming - from software-as-a-service companies that sell to other businesses, to consumer-facing industries like <a href="https://www.businessinsider.com/blue-apron-vs-plated-meal-kit-service-comparison">food</a>, <a href="https://www.businessinsider.com/top-marketing-execs-from-streaming-platforms-netflix-hulu-and-others-2020-2">media</a>, <a href="https://www.businessinsider.com/direct-to-consumer-healthcare-startup-ro-financials-and-growth-plans-2020-3">medicine</a>.And while their products differ, their business models all rely on the same thing: keeping their subscribers.While customer acquisition and growth may take priority in the early days, subscription businesses understand that customer retention becomes just as important as they scale. And as of 2020, 93% of subscription businesses view retention as being just as or more important than acquisition, according to a <a href="https://brightback.com/2020-brightback-state-of-industry">report from customer retention software company Brightback</a>.ChartMogul is a startup that wants to be the data platform behind the subscription economy, providing businesses with data and analytics to understand their subscription-based revenues.Over the last five years, ChartMogul has developed data tools that give companies insight into their revenues and customer churn and retention rates.ChartMogul was founded in 2014. It was originally headquartered in Berlin, but in January of 2019, the team started working fully remote.The startup has raised $3.7 million to date in seed capital from investors including Alven, Point Nine Capital, and RTAventures.<h2>Platform play</h2>And now, it's launching a subscription data platform that will join its data importing, cleansing, analyzing, and reporting functions."A lot of people perceive us as analytics and visualization tools. But this is our foray deeper into true data management," Sara Archer, director of sales and marketing at ChartMogul, told Business Insider.Using ChartMogul, a subscription company can connect various sales, marketing, and payments data sources to get a full view of its performance.And the platform provides three basic data analysis functions: importing, enriching, and exporting.To import subscription data, ChartMogul integrates with billing providers like PayPal, Shopify, and Stripe to get a view of subscription-related revenues. Then, by integrating with marketing and sales software like MailChimp and HubSpot, the revenue data can be enriched with customer information like membership tiers, discounts, and regions.ChartMogul's data can be exported through customer service platforms like Zendesk and Happyfox, as well as internal productivity tools like Geckoboard and Slack.Going forward, ChartMogul will focus on enhancing its exporting functionality, Archer said, based on what its clients are asking for.And it's no surprise they want integrations with analytics companies like the <a href="https://www.businessinsider.com/segment-funding-oracle-salesforce-2019-4">$1.5 billion startup Segment</a> and cloud giant Salesforce.While these integrations are big asks, Archer said, ChartMogul doesn't want to be another software-as-a-service (SaaS) silo where data gets trapped. <h2>From B2B SaaS to meditation apps</h2>Joining all these data sources together could prove valuable for companies who are managing subscriptions across several channels, from online to mobile to one-off spreadsheet-tracked billing."The market is moving more towards niche analytics products," Archer said. Companies can and do spend time and resources building and managing data analysis in-house. But by outsourcing the data management to a company like ChartMogul, they could have their business intelligence and data teams instead focused on solving customer problems, Archer said.ChartMogul's early clients were mostly B2B software-as-a-service companies, Archer said, like conversational marketing platform Drift and project management software Notion. But the startup is seeing growth in other industries."In the last year, we've also started to see more virtual subscription models in e-learning and in lifestyle and fitness applications," Archer said.ChartMogul is used by sports streaming service FuboTV and meditation app Breethe. ChartMogul itself runs on a tiered subscription model, with monthly fees and service levels dependent on a client's monthly recurring revenue (MRR). Companies with less than $10,000 MRR can use a basic plan for free. Once a company scales above that, there's a sliding monthly fee based on total MRR. For example, a company with MRR of $100,000 per month pays ChartMogul $350 per month. <h3>NOW WATCH: <a href="https://www.businessinsider.com/disney-parks-disneyland-world-expensive-exclusive-resort-walt-cinderella-2019-4">9 of the most exclusive Disney spots to visit, including the invite-only Cinderella Suite where Tom Cruise and Mariah Carey have stayed</a></h3>

Meet ChartMogul, the startup that's using data to help subscription services like meditation apps and sports streaming keep customers. Now, it's focused on teaming up with giants like Salesforce.

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