Indian Startup News Stories You Don’t Want To Miss This Week

The Union's budget for 2019 was presented in Parliament by Finance Minister Nirmala Sittraman

Ola obtained a license to operate a private vehicle (PHV) to operate in London

OYO Hotels and Homes in Southeast Asia has expanded into Vietnam

We bring you the latest version of News Roundup: Indian Startup Stories of The Week!

This week, Finance Minister Nirmala Sittraman presented the EU's 2019 budget to parliament. The Government has announced favorable measures to begin, including a very predictable clarity on the Angel Tax case. Citraman said that to solve the problem of Angel Tax, startups and investors who make the required statements will not be subject to any kind of scrutiny with respect to valuing the equity premium.

Through the new budget, Sitharaman said that the inclusion of solar storage batteries and cargo infrastructure in the FAME system would give a strong boost to manufacturing, which is essential for India to jump and become a global hub for the manufacture of these compounds. To read more about Union Budget 2019, click here.

Not only that, the annual economic survey for the period 2018-1919 called for an ideal fiscal policy for new companies so that they could help innovative investments in the Indian economy. The survey indicated that growth in the new economy can not be promoted without an ecosystem that rewards innovation and entrepreneurship. Recognizing the fact that new companies and innovative companies face a great deal of uncertainty compared to traditional "brick and mortar"

The remaining week was full of interesting developments on Ola's global expansion, and Flipkart sought to revise its foreign direct investment rules and more. Here's a look at India's important start-up news during the week.

Important news stories from the beginning of the week in India

Still thinking about pharmacy rules: Center tells Delhi HC

In a statement before the District Court of Chief Justice DN Patel and Judge C Hari Shankar, the Permanent Attorney of the Government, Kirtiman Singh, said that measures had been taken to draft the pharmacy rules and that the process was under consideration. The Center also gave more time to present its response to a statement of disdain. The issue will be heard on 24 September.

The international agenda for M Modi includes data localization and 5G

At the G-20 Summit of the Member States in Osaka, Japan, Prime Minister Mody spoke with his international colleagues about 5G technology, trade, data settlement, terrorism and other problems. Most of the G-20 countries signed the Osaka Path, a general framework that encourages cross-border data flows and enhanced protection by Japanese Prime Minister Shinzo Abe. India has continued its tough stance against such a free flow of data with Indonesia and South Africa remaining on its side.

• Protest, illegal operations and deception fees in companies
• The Ministry of Industry Promotion and Internal Trade (DPIIT) held two online food aggregators such as Swiggy, Zomato, Uber Eats and Foodpanda for a meeting. It is said that the meeting was held to discuss the complaints of traditional restaurants, which claimed Internet companies large discounts and predatory prices. DPIIT wants to discuss areas of common interest between online and offline stakeholders and develop viable solutions to achieve equitable growth in the industry.
• Bank of Delhi Supreme Court Division, Chief Justice DN Patel and Judge C Hari Shankar, issued a notice to Reserve Bank of India (RBI) and PayPal. A statement submitted by economist Abhijit Mishra at the Delhi Supreme Court claimed that the operation of PayPal as a payment system in India contravened Article 4 (1) of the 2007 Settlement and Settlement Systems Act (2007 Act). Mishra alleges that Paypal Payments Private Limited does not appear as a licensed operator under the list of "Payment Operators" published by RBI on 27 May 2019. Please note that this list describes RBI-approved operators to establish and operate in India under the 2007 Act.
• Hrithik Roshan, who is also the brand ambassador to Curefit Cult.Fit, was accused of fraud with three Cult.Fit officials, following a complaint filed by one of the participants alleging that "false promises" had been made in the company's announcements about the services provided by the gym. trending startup news India The plaintiff claimed that he did not receive daily training at the Cult.Fit Gymnasium, although he paid "unlimited" tuition fees. In a statement, Cult.Fit said it was cooperating with the authorities "in accordance with due process and evaluating corrective actions".

Ola’s International Expansion, Uber Plus And More

• Ola, a Unicorn taxi service based in Bangalore, has obtained a license to operate a private car rental operator (PHV) in London. This will allow the company to launch operations in London in September. The company expanded to the UK for the first time in August 2018.
• The Ministry of Transport has informed Uber that their joint transport services are not permitted under the Karnataka Transport Act. Therefore, they have asked companies to withdraw assembly services, effective immediately. The Department of Transport plans to make a decision after consultation with the state government.
• Uber is now testing a reward program for its drivers in India. The program, Uber Plus, is being tested for a selected base of drivers in Delhi, Mumbai and Chandigarh. Under Uber Plus, the company offers an exclusive loyalty loyalty program to allow drivers to ensure more savings and exciting rewards, while continuing to drive with Uber.
• The central government in India plans to implement a notice to state governments to promote the use of shared travel services, and transport companies such as Ola and Uber have also started. The center is said to believe such practices are necessary to reduce air pollution and relieve congestion in Indian cities.

OYO expands to Vietnam

The OYO Hotels & Homes chain has expanded in Southeast Asia through its penetration into Vietnam, with more than 90 hotels in six major cities, including Hanoi and Ho Chi Minh City. OYO plans to expand into more than 10 cities in Vietnam by the end of 2020. The company has also committed to invest $ 50 million over the next few years to transform the hotel landscape in Vietnam to create more than 1,500 direct and indirect jobs.. To help the country throughout its economic course.

Flipkart is ready to review FDI standards and more

Kallian Krishnamurthy, CEO of Flipkart, said the company fully complies with India's foreign direct investment rules and is ready to face any scrutiny to prove it. Walmart's etamart is reviewing the brokerage agreements signed in March this year to circumvent e-commerce rules. At a meeting, the Minister of Trade and Industry, Biosh Gueil, asked Flickrkart to show compliance with the latest FDI standards for online markets, which were implemented earlier this year.

Flipkart announced plans to integrate 50,000 SMMs into its statute by the end of 2019. MSME Connect will also help expand its position in Tier 3 cities and small cities. Flipkart claims to have nearly 100,000 sellers of SMEs on its platform.

• According to reports, trending startup news India the new e-commerce policy is expected to require e-commerce markets such as Amazon and Flipkart to demonstrate that product discounts are offered by the seller online and not through the e-commerce platform. According to reports, the policy may set up the maximum discount that can be offered on the product.

TikTok rejects accusations of sharing user data with China

Chinese video application TikTok denied allegations by Congressman Shashi Tharoor that the application illegally sent data about Indian users to the Chinese government. Tharur claimed that there were reports that the Chinese government was receiving data from users of the state-owned giant China Telecom. TikTok issued a statement on Tuesday denying that the allegations are true. "The privacy and security of our users is a priority for TikTok, and we are committed to local laws and regulations in the markets in which we operate," he said.

Starting How Can Startups Retain Their Best Employees articles a staff life can also be difficult because each deadline could lead to a company collapse. This means that many employees choose a more stable job with a former company.