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Global Entrepreneurship Summit India 2017

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Global Entrepreneurship Summit India 2017,Startup Stories,Business Update News 2017,Inspirational Stories 2017,74 entrepreneurs from Telangana,Women Entrepreneurs 2017,GES 2017,Prime Minister Narendra Modi About GES,Ivanka Trump visit to Hyderabad,GES 2017 Hyderabad,Ivanka Trump About Global Entrepreneurship Summit 2017

The eighth edition of the Global Entrepreneurship Summit 2017 is all set to take place on 28 November 2017 in Hyderabad. This three day summit will also see Ivanka Trump leading the United States delegation.

Hosted by the United States of America along with the Republic of India, the summit has been flooded with applications. Around 44,000 Indian entrepreneurs applied to participate in the summit that currently has only 400 available slots. 800 slots have been allotted for entrepreneurs from USA and around the world. Close to 74 entrepreneurs from Telangana have been selected for the summit.

Highlighting the theme Women First, Prosperity for All, this year’s summit will focus on supporting women entrepreneurs and fostering economic growth globally. First conceived by former US President Barack Obama, GES aims at creating an environment that empowers innovators, particularly women, to take their ideas to the next level.

The summit will also hold sessions, master classes and workshops by global experts along with networking events and keynote speeches from prominent entrepreneurs. According to the official website, GES 2017 will present a unique opportunity to connect and establish meaningful partnerships amongst entrepreneurs, investors and ecosystem supporters. In an attempt to inspire the culture of entrepreneurship, the summit also launched the ‘Road to GES’ initiative which aims to build and engage entrepreneurs through events from September to November and beyond.

Prime Minister Narendra Modi in a meeting in the Philippines said the GES would help in “showcasing innovation and collaboration between India and the United States.” With a bilateral trade of about $ 115 billion, India is already a major market for the United States. The summit aims at strengthening this relationship while encouraging innovation and collaboration, with a special focus on emerging nations from Africa and Asia.

With just ten days to go for the Summit, police officials in Hyderabad are on high alert. Special security measures and arrangements have been made in anticipation of Ivanka Trump’s visit to the city. According to media reports, Federal Bureau of Investigation and Special Protection Group high officials also visited Hyderabad to observe the security arrangements.

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Blissclub Raises INR 33 Crore in Fresh Funding Months After Layoffs

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Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.

The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes.

Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.

Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.

 

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Apple to Shift Entire US iPhone Assembly to India by 2026

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Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.

 

India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.

 

This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.


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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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