Taiwanese electronic contract manufacturer Foxconn on Monday said it has decided to pull out of semiconductor joint venture with Indian conglomerate Vedanta, according to a statement. Foxconn said it is "working to remove the Foxconn name from what now is a fully-owned entity of Vedanta". "Foxconn has no connection to the entity and efforts to keep its original name will cause confusion for future stakeholders," Hon Hai Technology group (Foxconn) said.
Startups that became unicorns in 2024 took an average of nine years and six months to reach $1 billion valuation, reflecting the impact of a prolonged funding squeeze from PE/VC firms over the past few years.
Last month, Bhatt said Kalashnikov AK-203 rifles for Indian armed forces were under manufacturing and testing stage at an Indo-Russian joint venture at Korwa in Uttar Pradesh.
TSI Ventures (India), a real estate joint venture between US-based Tishman Speyer and ICICI Venture, is planning to invest over $1 billion (about Rs 4,600 crore) in next 8-10 years to develop commercial and residential properties in the country.
In a December 2012 interview, Ratan Tata, then preparing to step down as chairman of Tata Sons, expressed doubts about the Tata group re-entering the aviation sector, calling it a space plagued by "destructive competition". But beneath that frustration lay nearly two decades of failed attempts to conquer the Indian skies. In 1994, Tata, along with Singapore Airlines, had plans to launch a joint venture (JV) airline in India.
Driven by a boom in domestic tourism, a record number of weddings in November and December, and a surge in extended weekend vacations.
Dhoni endorses 42 brands to Bachchan's 41 and SRK's 34.
Describing their situation akin to "bonded labour", two Air India pilot unions extended their support to Vistara pilots on Thursday, who have raised grievances regarding the duty roster and the revised salary structure. Amid the slew of flight cancellations and delays, Vistara chief executive officer Vinod Kannan acknowledged on Wednesday that pilot utilisation in the airline was high, and announced plans to scale back its flight schedule and overhaul the rostering system to provide pilots with more rest time.
From November 12, Vistara aircraft will be operated under Air India's banner, identifiable by a special four-digit flight code beginning with '2'. For example, flight UK 955 will become AI 2955, making it easier for customers to recognise when booking on airindia.com after this date.
With nearly 100 launches and unveils, the Bharat Mobility Global Expo 2025, held in Delhi from January 17 to 22, made one thing clear to automobile enthusiasts: Electric vehicles (EVs) are the way ahead for the Indian auto market for years to come.
According to the government, the additional chief secretary of the state housing department is designated to sign an agreement with the Union government for the land lease transfer.
Murdoch may re-enter space after non-compete period lapses, ABP to control three news channels of MCCS
The joint venture of Jio Financial Services and BlackRock to foray into India's asset management space could be disruptive but not disastrous for incumbent industry players, analysts said on Thursday. As an investment strategy, analysts suggest investors stay put in shares of those AMCs that consistently improve business metrics, and where market capitalisation-to-asset under management (AUM) valuation is not stretched. However, growth expectations of incumbent players may get trimmed in the medium-to-long term, analysts said, once the Jio-BlackRock JV unveils its plans, discounting the looming challenge as significant enough to dent their profitability.
This was one of the major outcomes of a 45-minute meeting between Prime Minister Manmohan Singh and British Prime Minister Gordon Brown on the sidelines of G-8/G-5 Summit in Rome on Wednesday
Move aimed at increasing US major's refining flexibility & scale.
It is the diamond in Africa and Russia that is dazzling India these days. India is planning joint ventures with diamond mining companies across Russia, Africa and the CIS nations.
The much-hyped joint venture between Tatas and Rupert Murdoch controlled Star group is understood to have got all the government clearances for starting the Rs 1,600 crore (Rs 16 billion) direct-to-home venture in India.
Govt has deffered approval to German auto maker Daimler on a joint venture in India. It has also rejected UAE-based Thuraya Satellite Telcom's proposal
The IT giant has reported a decline in headcount for six consecutive quarters.
Somehow no producer found the right project that would justify casting these two selective stars with each other.
Tata Boeing Aerospace has produced and supplied 190 Apache fuselages to Boeing's Apache final assembly plant in Mesa, Arizona.
Starting November 12, Vistara aircraft will be operated under the Air India banner, to be identified by a special four-digit flight code beginning with "2".
It is raining private equity funds in the logistics and warehousing space.
Tahawwur Hussain Rana, a Pakistan-born Canadian national and close associate of David Coleman Headley, is set to be extradited to India from the US. Rana was involved in the planning and execution of the 2008 Mumbai terror attacks, which killed 166 people, including six Americans. He assisted Headley in obtaining a visa for India, established a front company in Mumbai, and helped in reconnaissance of targets in Mumbai and New Delhi. Rana was convicted in the US for providing material support to Lashkar-e-Taiba (LeT) and sentenced to 14 years in prison. His extradition to India will allow authorities to question him about his involvement in the Mumbai attacks and potentially uncover new information about the role of Pakistani state actors.
'Companies like Tesla and others have been given a long rope in India.'
Indian conglomerate Vedanta on Monday said it has signed a pact with electronics manufacturing services giant Foxconn to form a joint venture (JV) for manufacturing semiconductors in India. Vedanta is the first company to make the announcement to invest in semiconductor manufacturing after the government announced a Rs 76,000-crore programme to boost electronic chip and display ecosystem in the country. This is also the second attempt of Vedanta to enter the semiconductor space after its earlier plans to set up a display unit with about Rs 60,000 crore investment could not take off.
In about a fortnight, Vistara - known for its premium service - will take off on its final flight before merging into the legacy of Air India. Set for November 12, the merger has sparked discussions on how these two distinct brands will blend.
Strengthening their presence in the international long distance telephony segment, state-run telecom companies BSNL and MTNL are likely to finalise the proposed joint venture company for setting up a submarine cable link before this fiscal.
In May last year, Peninsula forayed into the hospitality sector with a joint venture with textile maker and real estate developer, Arrow Webtex. The JV planned to build hotels in Mumbai, Pune, Nagpur, Nasik and Kolhapur in Maharashtra. There were also plans to develop hotels in Ahmedabad, Surat, Jamnagar, Mundra port, Goa and Kerala.
Reliance Industries Ltd on Monday reported a 5 per cent fall in the net profit for the July-September quarter, as weak oil refining and petrochemical business hurt operational performance.
Indian carrier Vistara on Monday announced voluntary retirement scheme (VRS) and voluntary separation scheme (VSS) for its permanent ground staff ahead of its merger with Air India, which had announced similar plans for its non-flying permanent staff two weeks ago.
India will jointly develop and co-produce a new generation of medium range surface-to-air missiles with Israel to secure the country's strategic assests from growing threats posed by aerial attacks and the proliferation of missiles in the region.
Falling oil rates have made rigs available for hire at a cheaper rate. Oil and Natural Gas Corporation planned to foray into building rigs in June 2008 owing to its short supply as crude oil prices zoomed northwards.
Tata Steel is exploring the possibility of setting up a mega project in collaboration with the world's fourth largest producer, Nippon Steel Corporation of Japan.
DLF Ltd is forging a 50:50 joint venture with Nakheel, a large property developer of the UAE, for two integrated townships in India at a whopping investment of $10 billion.
The move is in keeping with the group's target of achieving Rs 2,200 crore revenues from the defence sector by 2007-2008.
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