Indian telecom operators came out in open support of Chinese equipment makers, saying the government cannot deprive Indian consumers of the cutting-edge technology which these companies offer by denying security clearance to them.
Operators Bharat Sanchar Nigam Ltd, Bharti Airtel, Vodafone-Essar, Aircel, Mahanagar Telephone Nigam Ltd and Idea Cellular might have to fork out over Rs 11,200 crore for having spectrum beyond 6.2 MHz, if the government accepts the Telecom Regulatory Authority of India (Trai) recommendations.
Operators with more than 6.2 MHz of spectrum in GSM will have to cough up more if the Telecom Regulatory Authority of India has its way. Trai is recommending sweeping changes in the country's telecom landscape by replacing the current subscriber-based allocation of 2G spectrum.
Maruti Suzuki has asked its 200-odd vendors to cut their component costs by three per cent across the board in this financial year.
According to industry sources, states are yet to clear their previous dues of Rs 2,000 crore.
FIPB may be asked to vet downstream projects.
Bajaj Auto Managing Director Rajiv Bajaj said the company has, in partnership with Renault-Nissan, developed India's most fuel efficient and least-polluting car engine.
The Centre extended the deadline for implementing cleaner emission norms for two-wheelers across the country, a move that has come as a big relief for auto manufacturers, especially the country's largest two-wheeler maker, Hero Honda.
Coca-Cola's sports-loving CEO on the strategy that has helped him steer the soft drinks giant out of various crises.
The world's third largest tobacco company by sales volume, Japan Tobacco Inc, has invested $65 million (Rs 293 crore) in its Indian unit without increasing its shareholding, just days ahead of a government decision to ban foreign direct investment in cigarette manufacturing.
The ministry has said a more effective monitoring mechanism could be set up jointly with the ministries of commerce and urban development to ensure FDI does not 'render policy objectives in a sensitive sector of the economy with limited practical significance'
Leading Chinese telecom equipment manufacturers, Huawei Technologies Co Ltd and ZTE Corporation, have launched an aggressive 'Indianisation' drive. The two companies are replacing Chinese nationals with Indians on their board of directors. The move is seen as an attempt by the companies to change the public perception in India, where Chinese firms are often viewed with suspicion. This would also make it easy for the firms to do business in India.
Leading banks lent 18 per cent more to car buyers in 2009-10 at Rs 33,000 crore, compared with Rs 28,000 crore in the previous year.
With most European countries withdrawing their earlier incentives for buying new cars, India could see flat growth in exports of passenger cars in 2010-11, as compared to the last financial year.
Key shareholders of low-cost airline SpiceJet have rejected an offer by the Reliance ADA Group to pick up a 51 per cent stake in the airline for Rs 40-45 per share. The offer was made last week.
The country's largest car producer -- Maruti Suzuki -- is caught in a cleft. There is growing demand for its cars, but it does not have sufficient production capacity to feed this demand. To top that, this capacity constraint is not likely to be lifted before 2012.
Three months after its launch, Maruti Suzuki's multi-purpose vehicle, Eeco, has notched sales figures of over 7,000 units a month.
The global alliance between Renault-Nissan and Daimler AG announced today is likely to add one more car to the list of small cars jostling for market share.
