India and Bahrain firms have formed a JV to provide solutions for telecom infrastructure.
Godrej to focus more on own brands as the licensing agreement with Sara Lee ends in two years.
Tata Motors, India's largest automobile company, on Monday said it has entered into a joint venture with Thailand's Thonburi Automotive Assembly Plant Co to build, assemble and sell pick-up trucks in that country.
For the first time in 13 years, since Jet Airways' A330 planes exited the airline's fleet in around 2010, an Indian wide-body aircraft will have a Rolls-Royce-powered engine, with Air India ordering 40 Airbus A350 planes. On Tuesday, Air India announced its mega aircraft order for 470 aircraft, including A350 planes. The A350 aircraft, which will come in two variants, are powered solely by Rolls-Royce Trent XWB engines and the local team has begun work to assist Air India with its aircraft-induction plans.
ITDC/Aldeasa, a joint venture between state-owned Indian Tourism Development Corporation and Spanish company Aldeasa, had bagged the contract for duty-free operations at Mumbai airport for Rs 571 crore (Rs 5.71 billion) in February. Operations were to start in June. Instead, two weeks ago, Aldeasa wrote to MIAL saying that the contract value should be reduced to Rs 250 crore (Rs 2.5 billion).
The approval to bring in the FDI is subject to compliance with RBI and SEBI guidelines, besides subjected to approval of the relevant high courts for the demerger of distribution business of Volvo India. The finance ministry had already approved the FDI proposal of Volvo to invest $30 million (Rs 123 crore) for induction of foreign equity up to 8.1 per cent by way of acquisition of shares in EML.
Clarifying norms for single brand retail trading, government on Tuesday allowed foreign investors to conduct business through more than one joint venture in India.
Indian Oil Corp (IOC), nation's largest oil firm, is likely to sign a joint venture agreement with Nuclear Power Corporation of India (NPCIL) this month to foray into nuclear power generation.
Ranbaxy's investment in the six-year-old joint venture for the 50 per cent stake is estimated at Rs 30.5 crore (Rs 305 million). Industry sources said the deal was unlikely to impact Ranbaxy's financials as revenues and investment in the joint venture was not significant. Sources said revenues from NPI were only $25 million in 2007 through the sale of four generic products.
The 50:50 venture is likely to be signed on Tuesday during the visit of Viacom CEO and President Phillipe P Dauman, who is arriving in India late on Monday, industry sources said.
Keeping in view the serious threats posed by terror groups, the government has promulgated an Ordinance under which Central Industrial Security Force could be deployed at private and joint venture industrial units.The ordinance known as the CISF (Amendment) 2009 has come into effect since Sunday, an official spokesman of the Home Ministry said on Monday.
Indian auto major Mahindra & Mahindra has set up a joint venture with American manufacturer Navistar International to produce and market light, medium and heavy commercial vehicles for Indian and export markets.\n\n
'We are expected to grow at above 28 per cent this year, higher than the industry.'
In the April-June quarter (Q1) of 2023-24 (FY24), growth in sales of FSN E-Commerce Ventures (the parent company of Nykaa) decelerated to 24 per cent year-on-year (Y-o-Y), and 9 per cent quarter-on-quarter (Q-o-Q), compared with 34 per cent in the previous quarter, due to a decline in the beauty & personal care (BPC) and fashion division's gross merchandise value (GMV). But Nykaa claimed it gained market share in both divisions. The earnings before interest, taxes, depreciation, and amortisation (Ebitda) margin of 5.2 per cent expanded 120 basis points (bps) from a year earlier.
Fourteen unions representing over 30,000 employees of the National Aviation Company Ltd have threatened to go on strike in Mumbai from Tuesday to oppose the government's decision to set up a ground-handling services joint venture with Singapore Airport Terminal Services (Sats).
Nissan, which has entered into a tripartite joint venture with Renault and Mahindra and Mahindra for setting up a plant in Chennai, is almost certain to have 25 per cent stake in the venture, while it plans to launch premium sedan Teana in India.
'Israel is counting on the United States to enter the fray on their behalf and perform destructive strikes against these targets that are beyond Israel's conventional capabilities.' 'They may well get their way if they start a war, because the United States is still committed to Israel's security, and it won't matter whether it is Trump or Harris in the White House.'
The subsidiary will become operational by the end of the second quarter and cater to Indian corporates and expatriates in Malaysia. In the joint venture, BOB will hold 40 per cent stake, IOB 35 per cent, while Andhra Bank will hold the rest 25 per cent. Initial investment is pegged at Rs 405 crore (Rs 4.5 billion).
Indian apparel brands are looking at China as the new retail destination.
Russia will acquire 19.8 per cent stake in Sistema Shyam Teleservices Ltd, a joint venture between Sistema of Russia and Indian entity Shyam Group, for $676 million (around Rs 3,150 crore).
The JV was expected to open 56 exclusive high-end stores for the four focus brands, Miss Sixty, Energie, Killah & Murphy&Nye, in the top 10 cities in the first three years. As per the original plans, Darshan Mehta president and chief executive of Reliance Brands, was to spearhead the JV with separate business heads for each of the four brands.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
Tatas have tied up with Israel Aerospace Industries to manufacture missiles, pilotless drones, electronic warfare systems and other defence equipment.
Anil Ambani's $1.5 billion joint venture with celebrated film maker Steven Spielberg to set up a film studio in Hollywood will be operational in January next year.
Bharti Tele Ventures on Tuesday said the groups' foray into the retail segment, through a joint venture, would be finalised in the next three-four months.
ONGC and Mittal had in July 2005 come together to form two joint ventures -- ONGC Mittal Energy Ltd and ONGC Mittal Energy Services Ltd.
"We are disengaging from the joint venture, but the project (to manufacture CVs) will continue to exist and be run by Daimler. The reason for the move is the current economic slowdown and we will not like to commit such big investment in these circumstances," said Sunil Kant Munjal, chairman, Hero Corporate Services.
Annual capacity will be in excess of 100,000 cars.
Television broadcaster Star TV and Kerala-based broadcaster Asianet are signing a joint venture deal to launch regional channels. The move comes close on the heels of Star's JV with Balaji to launch regional South Indian channels being called off on Tuesday.
However, this was subject to conditions like substantial ownership and effective control of the airline being vested in Indian nationals.
Vedanta chairman Anil Agarwal on Saturday pressed for further liberalisation of the defence sector and called for corporatisation of defence factories to make the country self reliant in respect of arms and ammunition. There are 52 defence factories for manufacturing arms and ammunition in the country but most of them are running at 10 per cent capacity, he said. "We (India) can be the largest producer of arms and ammunition. "If the defence factories are corporatised it will bring in a new way of thinking," Agarwal said while addressing the inauguration of a post graduate programme for executives virtually from London.
NDTV Imagine, the entertainment wing of Prannoy Roy-promoted NDTV Network, is close to forming a 50:50 joint venture with Manmohan Shetty - the former promoter of Adlabs - to enter film production.
Navistar International Corporation through its subsidiary International Truck and Engine Corporation signed a joint venture agreement with the company to manufacture diesel engines for medium and heavy commercial trucks and buses in India, M&M said in a communique to the Bombay Stock Exchange. The joint venture, to be named Mahindra International Engines Ltd, would be owned 51 per cent by the Mahindras and 49 per cent by Navistar, the company added.
Indian billionaire industrialist Anil Ambani has joined up with the family of Amitabh Bachchan, the Bollywood actor, to set up a joint venture to make films.
The joint venture firm will be fully operational by the end of August this year.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
Tatas agreed to a joint venture, competed with it, later walked out and are now filing 'frivolous' petitions against it, Birlas told Supreme Court in reply to Tata Industries' plea for arbitration on mobile firm Idea Cellular.
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