India's venture initiatives continue

In India’s capital, the government plans to set up R500crore venture capital fund to boost the local pharmaceutical industry.

India has continued to set a range of venture funds and rules to support private investment in the country.

In Kolkata, the Mamata Banerjee government has asked the IIM-Calcutta and National Stock Exchange (NSE) to help firms after they use the state's R200crore ($31.4m) venture capital fund proposed in January.

Separately, the Odisha state government started its R100crore eponymous venture capital fund (OVCF). The OVCF has been formed as a contributory trust to provide financial assistance in shape of equity and equity-related direct investment to projects that have a high risk on investment.  

In India’s capital, the government plans to set up R500crore venture capital fund to boost the local pharmaceutical industry.

And the government will reportedly soon set rules so that private equity and venture capital investors can shift base to India without any adverse tax consequences, junior finance minister Jayant Sinha has said.

Even before such changes, risk capital investments in India in the first half of this year surpassed the money inflow in all of 2014.

Venture capital investors funnelled R15,600crore into 197 Indian startups in the year to June 26, compared with R14,850crore in 297 deals in the whole of last year, according to financial research firm VCCEdge. 

See more from this Government Report: India

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