After approving 51 per cent FDI in multi-brand retail, the CoS is said to have suggested stringent conditions for foreign retailers such as minimum investment of $100 million.
The Rs 4,000-crore (Rs 40-billion) Ranjangaon facility near Pune, which makes cars, engines and transmissions for both Tata Motors and Fiat, adopted aggressive cost cutting measures as part of a renewed attempt by both companies, especially Tata Motors, to put the JV back on track.
The Delhi-based car maker stopped production of the current generation of Swift last week to make way for the new model.
The saga of buying out high-end office space in Mumbai continues. In a latest development, Mumbai-based education company, Core Projects and Technologies, is in talks with the leading plastic goods maker Supreme Industries to buy out the office property developed by the latter in the Andheri area of Mumbai. The deal could be worth Rs 350 crore (Rs 3.5 billion) in value, said sources close to the development.
Two years after IHCL - one of Asia's biggest hotel chains which runs the Taj chain of hotels and resorts in addition to three other brands - had clinched the deal and subsequently demolished the multi-storey 434-room Hotel Sea Rock, it is now awaiting clearance to start construction.
Brotin Banerjee, managing director and CEO of Tata Housing, shares the company's plans and strategy with Raghavendra Kamath.
MPCB said Indiabulls had started the construction work at the IT Park project in violation of consent to establish and without complying with its directions issued on January 27.
Reliance Retail, which started in 2006, runs over 1,000 stores across 86 cities.
RIL had earlier decided not to pursue the cash-and-carry model due to a number of reasons, including a growing unrest towards organised retail.
Customers want formats which have wide assortment, international products, and so on. Basically, it is an assortment play.
Equinox plans to launch 1.4 million sq ft residential project in Bengaluru in the last quarter of calender year 2011 and a one-million housing project in Thane near Mumbai in the next one year.
Religare, promoted by billionaire brothers Malvinder and Shivinder Mohan Singh, was in talks with Piramal for six to eight months to buy nearly 80 per cent in Indiareit for around Rs 300 crore (Rs 3 billion).
The launch of two much-awaited compact cars of Honda and Toyota, scheduled to hit showrooms in a few months, may get reviewed as the two companies struggle with component supplies.
State transport undertakings are warming up to the multinationals despite premium pricing
Cement and steel prices have shot up sharply in the past four months, with steel prices rising 10 per cent and cement increasing 34 per cent since January.
Premium car makers which do not produce models locally, but assemble these in India are busy exploring ways to avoid a price rise in the wake of the government's new duty structure.
Freebies do not seem to have attracted many buyers, as both property prices and lending rates continue to remain high.
Big Bazaar stores have sold 900 Nano cars since February, when Tata Motors made the arrangement.
General Motors India, the joint venture company of General Motors, US, and Shanghai Automotive Industry Corporation, China, is looking to sell small-capacity engines made from its Maharashtra plant to companies willing to have a sourcing pact with it.
Finance Minister Pranab Mukherjee had proposed to introduce a service tax of five per cent on hotel room charges and three per cent on air-conditioned restaurants that serve liquor.
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