Five Indian startups will join the India-UAE CEPA Council’s Start-Up Series, securing a fully sponsored soft-landing package in the UAE, according to a press release (pdf). The five finalists were shortlisted from more than 10k applications in a finale held on 24-25 November in New Delhi.

Who’s in?

  • Bioreform, selected by Ras Al Khaimah Economic Zone, is a Hyderabad-based packaging firm developing biodegradable and compostable substitutes for single-use plastics using a proprietary biopolymer formulation;
  • Data Sutram, selected by Emirates NBD, is a Kolkata-based regtech and analytics platform that integrates 250+ data sources to generate real-time insights for fraud monitoring, underwriting, and customer risk assessment;
  • DocketRun, selected by DP World, is a Hubballi-based industrial safety software provider that applies edge AI and computer-vision tools to detect and prevent workplace safety incidents;
  • Endimension, selected by Hub71, is a Mumbai-based AI radiology platform supporting more than 800 hospitals and diagnostic centers to improve the speed and accuracy of x-ray, CT, and MRI interpretation;
  • SBNRI, selected by First Abu Dhabi Bank, is a Gurugram-based fintech platform for NRIs that offers a unified digital interface for banking, investments, and global tax management.

Support package: The UAE firms will support their respective selected startup with incubation, business setup, trade-license facilitation, and market-entry guidance while HUB71 is offering access to its Immersion Program.

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Haier seeks regulatory approval for INR 10 bn funding

Haier wants to grow in India: Haier India, the Indian arm of China-based appliance maker Haier, filed a Press Note 3 application with the Promotion of Industry and Internal Trade Department to secure an INR 10 bn (USD 120 mn) capital infusion from its parent Haier Singapore Investment Holding, Economic Times reports. Press Note 3 is a special regulatory approval needed for foreign direct investments from neighboring countries — including China — into India after the government imposed a virtual ban in 2020.

The funding is expected to support a third manufacturing plant in southern India, joining Haier’s existing facilities in Greater Noida and Pune. Haier is also in advanced talks with Bharti Group to sell a 49% stake in its Indian arm, with the Chinese parent projected to retain 49% and 2% earmarked for employees.

Telcos push back against disclosure fines

Indian telecom operators are pushing back on a new Telecom Regulatory Authority of India (TRAI) proposal that would impose penalties of up to 1% of a company’s annual turnover for submitting incorrect or incomplete financial filings, Mint reports. The government relies on these filings to calculate license fees and spectrum usage charges, but telcos argue that turnover-based penalties are too harsh for minor or unintentional errors.

What they said: The Cellular Operators Association of India, which represents Airtel, Jio, and Vodafone Idea said the draft rules conflict with broader policy goals of simplifying compliance. India’s largest telco, Jio, has called the 1% turnover penalty ultra vires, while operators say TRAI should issue warnings for first-time lapses.

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