Government proposes 10 pc import duty on mobile components; Paytm focuses on Money Transfers

Tuesday April 03, 2018 , 2 min Read

Financial major Paytm said it has revamped its app to personalise the user experience. While doing so, the app has increased focus on Money Transfers, offering instant transfers from a user’s Paytm Payments Bank account, Paytm Wallet or any other bank account, to any bank account at zero percent fee. With this revamp, Paytm aims exponential growth in money transfers this year.

In a bid to push domestic production of smartphones, the government is said to be mulling additional duties on imported components. The Ministry of Electronics and Information Technology has floated a proposal to levy a 10-percent import duty on printed circuit boards (PCBs) — which make up half the cost of a smartphone. The proposals are awaiting approvals from the finance ministry.

Two-year-old startup, Boxnbiz, started by Biplob Barik and Ricky Goyal, offers a single dashboard solution to manage end-to-end supply chain with instant quotes and real-time visibility of shipments. It has enabled the logistics ecosystem on the shipping side to discover original and dynamic pricing.

With 50 million SMBs, of which 12 million are mom-and-pop retailers, embracing a digital revolution, Metro Cash & Carry MD Arvind Mediratta says India is a great market and strongly believes India’s future is in entrepreneurship. Metro C&C been in India for close to 15 years. From working with local retailers and farmers to meat/fish suppliers and professionals, Metro has 2.5 million SMBs on their platform. In India, the company is at more than 800 million euro in revenue