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MIT WPU Entrepreneurship Cell, E&TC Porch, MIT Pune, Pune (2026)

16/05/2020

President Donald Trump has announced that the U.S. will donate ventilators to India, moments after he underlined the close partnership between the two countries and called Prime Minister Narendra Modi his “good friend“.
India’s tally of confirmed COVID-19 cases crossed 85,000 on Friday, surpassing China’s count of 82,933 confirmed cases.
“I am proud to announce that the United States will donate ventilators to our friends in India,” Trump tweeted on Friday. However, the White House did not say how many breathing devices would be sent.
At Trump’s request, India had last month allowed the export of 50 million hydroxychloroquine tablets to treat COVID-19 patients in America, the country worst hit by the pandemic.
Earlier in the day, Trump praised India and Prime Minister Modi. “India has been so great and as you know your prime minister has been a very good friend of mine. I just got back a short while ago from India and we are very much together,” the president said, referring to his visit to New Delhi, Ahmedabad and Agra in February.

During a press briefing, White House Press Secretary Kayleigh McEnany said, “The president just extolled our great relationship with India. India has been a great partner to us for quite sometime. I am encouraged to hear ventilators to India.”
She said India would be among several countries that would getting the ventilators.
Mr. Trump on Friday said the U.S. and India are cooperating to develop a vaccine for COVID-19. “Together we will beat the invisible enemy! We stand with India and Prime Minister Modi during this pandemic,” Mr. Trump told reporters in the Rose Garden of the White House.
Mr. Trump recognised Indian-Americans as great scientists and researchers, who are contributing in the development of coronavirus vaccine.
He said a COVID-19 vaccine would likely be available by the end of the year. He has announced appointing former head of vaccines at GlaxoSmithKline to spearhead the vaccine development effort.

Source: The Hindu

15/05/2020

In what can be a major setback for Prime Minister Narendra Modi’s ambitious plan to woo multinational companies away from China to make in India, US President has threatened companies such as Apple with tax deterrent if they do so.

Donald Trump said he could levy new taxes on American companies that move their manufacturing bases from China to any country other than the United States. Donald Trump has termed taxation as an incentive for companies to return the manufacturing to the United States, news agency PTI reported citing an interview. Trump has time and again asked American firms to shift their manufacturing to the United States to help create more jobs, a move that resonates with his agenda of ‘Make America Great Again’.

Donald Trump was asked his views on reports coming in about Apple shifting a significant part of its manufacturing to India and away from China to reduce logistical distrumptions. To this the President of the United States said, “If they do, you know, we gave Apple a little bit of a break because they’re competing with a company that was a part of a trade deal that we made. So it was a little bit unfair to Apple, but we’re not allowing this anymore. You know if we wanted to put up our own border like other countries do to us, Apple would build 100 per cent of their product in the United States. That’s the way it would work.”
Global supply chains were hit with the onset of the deadly coronavirus in China as the virus spread across the whole of Wuhan and parts of Hubei province forcing Xi Jinping’s government to isolate the province and bringing the Chinese economy to a virtual standstill.

Source: Financial Express

14/05/2020

PM CARES, or Prime Minister’s Citizen Assistance and Relief in Emergency Situations, Fund Trust will allocate Rs 3,100 crore for the fight against COVID-19, the Prime Minister’s Office announced.

“Out of Rs 3,100 crore, a sum of approximately Rs 2,000 crore will be earmarked for the purchase of ventilators, Rs 1,000 crore will be used for care of migrant labourers and Rs 100 crore will be given to support vaccine development,” the PMO said in a statement.

The trust formed on March 27 is headed by the prime minister. The other ex-officio members of the trust are the defence minister, the home minister and the finance minister.
The fund was created by the Narendra Modi government on March 28 to facilitate donations from private individuals and corporate entities to tackle the coronavirus crisis even though the Prime Minister National Relief Fund (PMNRF) already existed.

Source: The Wire

13/05/2020

Union finance minister Nirmala Sitharaman said on Wednesday businesses including MSMEs and SMEs will get a Rs 3 lakh crore collateral-free automatic loans to meet operational liabilities built up, buy raw material and restart business.
Nirmala Sitharaman was addressing a press conference to give the details of the Rs 20 lakh crore economic stimulus package announced by Prime Minister Narendra Modi as day earlier.
She said the emergency credit line to businesses and MSMEs from banks and NBFCs up to 20% of entire outstanding credit as on February 29, 2020.

Borrowers with up to Rs 25 crore outstanding and Rs 100 crore turnover eligible will get this collateral-free credit, along with credit guarantee to banks.
These loans to have four year tenor with a moratorium of 12 months on principal repayment. The interest to be capped 100% credit guarantee cover to banks and NBFCs on principal and interest scheme can be availed till October 31.
She said there won’t be any guarantee fee or fresh collateral and that 45 lakh units can resume business activity and safeguard jobs.
Nirmala Sitharaman said the Rs 20 lakh crore package is essentially to spur growth and build a self-reliant India.

“This package is focussed on five pillars of economy, infrastructure, technology-driven systems, demography and demand. Accordingly, the focus will be what can be identified as factors of production - land, labour, liquidity and law,” she said.
The finance minister said the announcements about the economic package is in line with PM Modi’s vision. “In his address, the Prime Minister didn’t mean isolated India, but a confident India,” said Sitharaman.

Source: Hindustan Times

12/05/2020

PrimeMinister Narendra Modi on Tuesday announced Rs 20 lakh crore financial package to revive the Indian economy.
"I announce a special economic package today. This will play an important role in the 'Atmanirbhar Bharat Abhiyan'. The announcements made by the government over Covid-19, decisions of RBI and today's package totals to Rs 20 lakh crores. This is 10 per cent of India's GDP," PM Narendra Modi said in his address to the nation.
Addressing the nation for the fifth time since March, the prime minister said that the path for Indian economic revival is self-reliance. PM Modi said that the financial package will help revive every branch of the economy - from demand, supply chain to manufacturing.
"To achieve self-reliance, the economic package focuses on land, labour, liquidity and laws," the PM said.
"The economic package will help cottage industries, home industry, small-scale industries, MSMEs, which are the means of livelihood for crores of people. This package is also for farmers, who toil in different weather conditions and for the middle class who pay their taxes on time," PM Modi said.
The prime minister also urged the people to buy and promote local products and brands. He urged the people to be 'vocal for the local'.
"Time has taught us that we must make 'local' the mantra of our lives. Global brands that are there today were once local too but when people there started supporting them they became global. That is why from today, every Indian must become vocal for our local," PM Modi said.

Source: India Today

12/05/2020

One of the most popular chains for gyms in the world – Gold’s Gym. The company filed for Chapter 11 bankruptcy protection on 4th May 2020, as the coronavirus pandemic hit the US economy. The 55-year old company is now looking to pursue restructuring for its 700 centres across the world.

However, its India business remains safe and will have no impact from the financial restructuring of the parent company. Karan Valecha, director and co-founder Gold’s Gym India, said that being a master franchise its business remains separate from the global chain.

“I would like to personally reassure you that this absolutely does not have any impact on Gold’s Gym India as a Master Franchise and we are committed to giving you the best fitness experience as we have for the last 17 years and counting,” said Valecha.

Due to the coronavirus lockdown, the gym’s centres in India too have been shut since mid March. But, Valecha is confident of their return post lockdown.

“As Gold’s Gym India, we are sure that even after a global pandemic like COVID-19 we will emerge stronger than before. We eagerly await an advisory from our local governments to end the lockdown and reopen our clubs,” he said.

Globally, Gold’s Gym shut down 30 centres. However, President and COO Adam Zeitsiff said that the company is definitely not going out of business and it does not have an impact on their ability to continue supporting their franchise partners around the world.

Source: Business Insider India

26/01/2020

26th January 1950 was a red-letter day in the history of the Indian Civilization. As the newly adopted constitution came into effect, replacing the Government of India Act, 1935- it signalled the penultimate separation of our nation with the British crown as a new independent republic was born. The rich values enshrined in our Constitution draw inspiration from thousands of years of the heritage of our people and set an example to the rest of humanity in terms of their greatness.

We wish one and all a very happy 71st Republic Day. May many more glorious years await ahead of us and bring prosperity to this nation and its wonderful people.

22/01/2020

Business Model Canvas Workshop conducted by Mr. Shubham Deshmukh, founder IYEDO and MIT-WPU Entrepreneurship Cell. @ Mit College Campus

03/01/2020

YOU CANNOT BUILD A STRONG BUSINESS ON A WEAK FOUNDATION
Give a fresh headstart to your business in 2020. MIT-WPU E-CELL is organising Business Model Canvas brought to you by Shubham Deshmukh, Founder and CEO of IYEDO.
The workshop aims to provide your business with the ability to
1) Validate your idea
2) Develop the prototype
3) Cash flow management
Date: 9th January
Time : 2pm to 6pm
Fees: 200 for 1
350 for 2
Venue : MIT-WPU Pune
Registration link:
https://forms.gle/3J3hHH5igbRQCFpt6
For further details contact :
Shreyash 7066887688
Prajwal 8237840081 @ Pune, Maharashtra

25/12/2019

May your days be merry and bright. It's the most wonderful time of the year. Christmas, the festival of joy has finally arrived. It is about sharing and helping others. Although Christmas is celebrated to mark the birth of Jesus Christ, it has become a symbol for living in peace and love.
Spending time at home with the people we love and embrace being surrounded by flickering lights is the image I have in my head bringing warmth to my heart
Have yourself a Merry little Christmas, making it a December to remember

25/11/2019

A DigitalMarketing workshop was arranged by MITWPU E-Cell for the students.

Starting from scratch of making an advertisement and going till Digital marketing, It was our honourable speaker Mr. Adit Chouhan sir giving a hands on experience to the participants on the basic tools used in Digital Marketing. The workshop was a blast.

We thank Adit sir for such a great experience!

MIT WPU Entrepreneurship Cell

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