350 Muslim voters in this Hassan village decide to boycott polls for a graveyard

Bengaluru, May 18: Karnataka Chief Minister BS Yediyurappa on Monday said that people from Gujarat, Maharashtra, Kerala and Tamil Nadu will not be allowed in the state till May 31.

"We have decided not to allow entry of people from Gujarat, Maharashtra, Kerala and Tamil Nadu till May 31," Yediyurappa said after a meeting with state ministers and senior government officers to discuss the guidelines issued by the Centre regarding the fourth phase of nationwide lockdown.

"State road transport corporation buses in Karnataka and private buses will run. Strict lockdown measures in containment zones and economic activities will be permitted in other areas. Sundays will be total lockdown across the state. Home quarantine will be strengthened," he added.

The Chief Minister further said that all shops will be allowed to open and all trains running within the state will be permitted.

The central government on Sunday extended the ongoing COVID-19 induced nationwide lockdown till May 31, but with a set of new relaxations commencing from Monday. The Union Home Ministry has also given powers to States/UTs demarcate areas in Green, Orange and Red zones, which will allow them to start activities except in containment zones.

According to the guidelines, "all other activities will be permitted except those which are specifically prohibited under these guidelines. However, in containment zones, only essential activities shall be allowed, as mentioned earlier."

Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.

With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.

At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.

Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.

“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”

This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.

An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.

After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.

Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.

“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.

May 11: The Karnataka government appears set to roll out red carpet welcome to foreign companies seeking to move out of China.

The State's Large and Medium Scale Industries Minister Jagadish Shettar said the Government plans to constitute a task force, under the Chairmanship of the Chief Secretary T M Vijay Bhaskar, to spearhead the drive to attract such investment. A proposal to this effect has been sent to the Chief Minister B S Yediyurappa for approval, the Minister told PTI in an interview.

This panel would take feedback and suggestions from a consultative committee to be formed with prominent industrialists from the State and representatives of various countries located here, Shettar said.

In recent days, the Minister held consultations with industrialists such as co-founder and Non-Executive Chairman of Infosys Ltd, Nandan M Nilekani, Executive Chairperson of Biocon Ltd, Kiran Mazumdar-Shaw and Chairman of early-stage startup accelerator and venture fund Axilor Ventures Senapathy (Kris) Gopalakrishnan to fine-tune the States outreach push.

Shettar also held interactions with industry bodies, including Confederation of Indian Industry (CII), the Federation of Karnataka Chambers of Commerce and Industry (FKCCI), Bangalore Chamber of Industry and Commerce (BCIC) and Karnataka Small Scale Industries Association (KASSIA).

Industrialists who took part in the deliberations suggested to the government to focus on ease of doing business and improving the single window clearance system for approvals, as the Minister spelt out government's intent of further improving the investment climate to attract industries to Karnataka.

To boost the industry sentiment in the State, they also stressed the need on easing land acquisition regulations, and leveraging the knowledge base of Bengaluru to promote technology-based manufacturing.

"Given the interest shown by some companies in moving their manufacturing bases out of China, the industry leaders recommended that the State government identify a target list of 100 firms to reach out to for attracting to the State, and work out a strategy to bring them to Karnataka," an Industry department official said.

The industry leaders assured cooperation from the private sector in reaching out to and facilitating interactions with CEOs of these companies.

Shettar said restrictions on acquisition of agriculture land for starting industries have now been relaxed with the passage of an amendment to the land reforms act in the recent Legislature session.

This would facilitate immediate land allotment to industries, he added.

The Minister has also submitted a proposal to the Chief Minister on relaxing labour laws.

Secretary General of industry body ASSOCHAM, Deepak Sood, told news agency recently that there is a broader consensus that the global manufacturing supply chain would be more spread than concentrated in major economies like China.

"If India comes out of the present crisis with minimum of impact, we can be the destination of choice for the global manufacturing giants in different sectors like electronics, computer hardware, pharmaceuticals, including medical devices, automobile, including components and other engineering products," Sood had said.

Gopalakrishnan, also co-founder of Infosys and former CII President, said India has to target companies which have operations in China, reach out to them, understand what their needs are and hold discussions with them.

"We have to make sure that their requirements are addressed, be it with regard to land, office space, faster approvals, and some concessions on local taxes. It depends on the businesses that the companies are in, and if we are able to respond to those requests, I think we will be able to attract them", he told news agency.

"All states will compete for this business (foreign investment)," Gopalakrishnan added.