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Spinny raises $131 million in Accel-led round amid booming used-car market

Fresh Funding Fuels Spinny’s Growth in the Thriving Pre-Owned Car Sector Used-car marketplace Spinny has raised 1 million in a funding round led by Accel Leaders Fund, according to news reports. This fundraising comes at a time when the used-car market, which recorded 4.6 million sales in 2023, is projected to reach 10.8 million by […]

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Spinny raises 1 million in Accel-led round amid booming used-car market

Fresh Funding Fuels Spinny’s Growth in the Thriving Pre-Owned Car Sector

SpinnyUsed-car marketplace Spinny has raised 1 million in a funding round led by Accel Leaders Fund, according to news reports. This fundraising comes at a time when the used-car market, which recorded 4.6 million sales in 2023, is projected to reach 10.8 million by 2030, growing at a compound annual rate of 13 per cent, according to a CARS24 report.

The expansion is driven by rising demand across both urban centres and smaller townsThe fundraising comes amid increased activity in the used-car marketplace, following Droom’s recent million funding round, which, according to reports, was co-led by India Accelerator and Finvolve, as the company prepares for an IPO.

Founded in 2015, the online used-marketplace, the company previously raised 8 million in its Series D funding round in 2021 from new and existing investors, led by Tiger Global. Another new investor in the round is New York-based Avenir Growth.

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India downgrades diplomatic ties with Pakistan

India downgrades diplomatic ties with Pakistan
India downgrades diplomatic ties with Pakistan

India on Wednesday suspended the Indus Water Treaty and announced downgrading diplomatic ties with Pakistan including expulsion of its military attaches in view of cross-border links to the Pahalgam terror attack.The CCS decided that the Indus Waters Treaty of 1960 will be held in abeyance with immediate effect, until Pakistan credibly and irrevocably abjures its support for cross-border terrorism, Foreign Secretary Vikram Misri said at a media briefing.The Integrated Check Post at Attari will be closed with immediate effect, he said.Published on April 23, 2025 Those who have crossed over with valid endorsements may return through that route before May 1, he said.The Cabinet Committee on Security (CCS) met this evening under the chairmanship of Prime Minister Narendra Modi and firmed up the responses to the terror attack.

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India downgrades diplomatic ties with Pakistan

India downgrades diplomatic ties with Pakistan
India downgrades diplomatic ties with Pakistan

The Integrated Check Post at Attari will be closed with immediate effect, he said.Published on April 23, 2025 The CCS decided that the Indus Waters Treaty of 1960 will be held in abeyance with immediate effect, until Pakistan credibly and irrevocably abjures its support for cross-border terrorism, Foreign Secretary Vikram Misri said at a media briefing.Those who have crossed over with valid endorsements may return through that route before May 1, he said.India on Wednesday suspended the Indus Water Treaty and announced downgrading diplomatic ties with Pakistan including expulsion of its military attaches in view of cross-border links to the Pahalgam terror attack.The Cabinet Committee on Security (CCS) met this evening under the chairmanship of Prime Minister Narendra Modi and firmed up the responses to the terror attack.

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Renault opens new car design centre in Chennai

Renault opens new car design centre in Chennai
Published on April 22, 2025
Renault already operates one of its largest global R&D centers in Chennai, with nearly 10,000 engineers contributing to both local and international projects. The company also actively exports made-in-India components for use in vehicles manufactured around the world.French automaker Renault has unveiled what it calls its largest design facility outside France, the Renault Design Centre Chennai (RDCC), located within the Renault Nissan Technology & Business Centre India campus at Mahindra City, near Chennai.“We are proud to be the most Indian of European carmakers,” Venkatram Mamillapalle, Country CEO and Managing Director of Renault India Operations, said. “From our extensive R&D center to a robust manufacturing footprint and a deeply localized supply chain, Renault has built strong roots in India. The new Chennai design centre adds yet another dimension to this foundation, positioning us to take forward the Renault International Game Plan 2027.”“India is a unique and complex market shaped by local consumer preferences. Establishing a dedicated design studio here is essential to truly understand these dynamics and create relevant solutions,” said Laurens van den Acker, Chief Design Officer, Renault Group. “The Chennai studio will not only focus on India-specific concepts and models but will also contribute to global projects under the Renault Group umbrella.”“We are expanding our Indian design team and collaborating closely with stakeholders across the country’s automotive ecosystem,” van den Acker added. “This enables us to deliver products that resonate deeply with Indian consumers while strengthening Renault’s global innovation pipeline.”This new facility will be responsible for designing all five upcoming Renault models set to launch in India over the next two years. The studio currently employs over 30 design professionals.The company’s design journey in India began with studios in Pune and Mumbai, which have now been consolidated into the new state-of-the-art Chennai facility.Laurens van den Acker, Chief Design Officer, Renault Group and M Venkatram, Country CEO and MD, Renault India at the unveiling of a sculpture model designed by the Renault Design team, at the Renault Nissan Technology & Business Centre at Mahindra City, near Chennai

Laurens van den Acker, Chief Design Officer, Renault Group and M Venkatram, Country CEO and MD, Renault India at the unveiling of a sculpture model designed by the Renault Design team, at the Renault Nissan Technology & Business Centre at Mahindra City, near Chennai
| Photo Credit:
BIJOY GHOSH

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Renault opens new car design centre in Chennai

Renault opens new car design centre in Chennai
Laurens van den Acker, Chief Design Officer, Renault Group and M Venkatram, Country CEO and MD, Renault India at the unveiling of a sculpture model designed by the Renault Design team, at the Renault Nissan Technology & Business Centre at Mahindra City, near Chennai

The company’s design journey in India began with studios in Pune and Mumbai, which have now been consolidated into the new state-of-the-art Chennai facility.Renault already operates one of its largest global R&D centers in Chennai, with nearly 10,000 engineers contributing to both local and international projects. The company also actively exports made-in-India components for use in vehicles manufactured around the world.Published on April 22, 2025 “India is a unique and complex market shaped by local consumer preferences. Establishing a dedicated design studio here is essential to truly understand these dynamics and create relevant solutions,” said Laurens van den Acker, Chief Design Officer, Renault Group. “The Chennai studio will not only focus on India-specific concepts and models but will also contribute to global projects under the Renault Group umbrella.”French automaker Renault has unveiled what it calls its largest design facility outside France, the Renault Design Centre Chennai (RDCC), located within the Renault Nissan Technology & Business Centre India campus at Mahindra City, near Chennai.This new facility will be responsible for designing all five upcoming Renault models set to launch in India over the next two years. The studio currently employs over 30 design professionals.“We are proud to be the most Indian of European carmakers,” Venkatram Mamillapalle, Country CEO and Managing Director of Renault India Operations, said. “From our extensive R&D center to a robust manufacturing footprint and a deeply localized supply chain, Renault has built strong roots in India. The new Chennai design centre adds yet another dimension to this foundation, positioning us to take forward the Renault International Game Plan 2027.”“We are expanding our Indian design team and collaborating closely with stakeholders across the country’s automotive ecosystem,” van den Acker added. “This enables us to deliver products that resonate deeply with Indian consumers while strengthening Renault’s global innovation pipeline.”

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R&D services for cancer diagnosis does not qualify for GST exemption as ‘healthcare services’, says Maha AAR

R&D services for cancer diagnosis does not qualify for GST exemption as ‘healthcare services’, says Maha AAR
R&D services for cancer diagnosis does not qualify for GST exemption as ‘healthcare services’, says Maha AAR

According to Sandeep Sehgal, Partner at AKM Global, the said ruling highlights a crucial distinction between approved healthcare diagnostics and new, tech-driven testing methods. It clearly states that not all laboratory tests are automatically exempt from GST. If a test is still in the experimental stage and lacks approvals from regulatory bodies like ICMR or CDSCO, it will be treated as research and subject to GST. This is a key takeaway for diagnostic start-ups and labs using advanced technologies like genome sequencing or AI-based testing. Therefore, “to qualify for GST exemption under healthcare services, obtaining proper medical licenses and regulatory approvals is essential,” he said.Published on April 21, 2025 “The primary activity is research and experimental development of Cancer Prognostic and Diagnostic Technologies,” MAAR said while ruling that it is not eligible for the benefit of exemption. The quails judicial body observed that diagnostic test is still in its developmental stage and is not yet validated by the medical regulatory bodies. It noticed that applicant has not produced any license or certificate from Central Drugs Standard Control Organisation or any approval from Indian Council for Medical Research . It also said: “Tests cannot be treated as a proper diagnostic test but is more in the nature of clinical research and development and as a result it does not qualify as a Health Care Service.”Epigeneres Biotech Private Ltd had moved MAAR seeking advance ruling on whether the provision of diagnostic services would qualify for exemption from GST. Diagnostic services for conducting blood tests which assists in early detection of cancer fall out of the periphery of ‘Healthcare services’, Maharashtra’s Authority for Advance Ruling (MAAR) has ruled. This means such a service will not be exempted from GST.

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R&D services for cancer diagnosis does not qualify for GST exemption as ‘healthcare services’, says Maha AAR

R&D services for cancer diagnosis does not qualify for GST exemption as ‘healthcare services’, says Maha AAR
R&D services for cancer diagnosis does not qualify for GST exemption as ‘healthcare services’, says Maha AAR

“The primary activity is research and experimental development of Cancer Prognostic and Diagnostic Technologies,” MAAR said while ruling that it is not eligible for the benefit of exemption. The quails judicial body observed that diagnostic test is still in its developmental stage and is not yet validated by the medical regulatory bodies. It noticed that applicant has not produced any license or certificate from Central Drugs Standard Control Organisation or any approval from Indian Council for Medical Research . It also said: “Tests cannot be treated as a proper diagnostic test but is more in the nature of clinical research and development and as a result it does not qualify as a Health Care Service.”This is a key takeaway for diagnostic start-ups and labs using advanced technologies like genome sequencing or AI-based testing. Therefore, “to qualify for GST exemption under healthcare services, obtaining proper medical licenses and regulatory approvals is essential,” he said.According to Sandeep Sehgal, Partner at AKM Global, the said ruling highlights a crucial distinction between approved healthcare diagnostics and new, tech-driven testing methods. It clearly states that not all laboratory tests are automatically exempt from GST. If a test is still in the experimental stage and lacks approvals from regulatory bodies like ICMR or CDSCO, it will be treated as research and subject to GST. Epigeneres Biotech Private Ltd had moved MAAR seeking advance ruling on whether the provision of diagnostic services would qualify for exemption from GST. Diagnostic services for conducting blood tests which assists in early detection of cancer fall out of the periphery of ‘Healthcare services’, Maharashtra’s Authority for Advance Ruling (MAAR) has ruled. This means such a service will not be exempted from GST.Published on April 21, 2025

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