To keep competitors at bay, GCMMF has drawn up an expansion blueprint worth Rs 800 crores for the domestic market.
The investment was committed to by Vittorio Colao, CEO of Vodafone Group Plc.
Speaking at a press conference in Kolkata organised by TDSAT, N K Mangla, head of the regulatory department of Reliance Communication, said, "We plan to have a customer capacity of 8 million or 55 per cent of the population in 2008." Reliance also plans to cover 95 per cent of highways, 93 per cent of railways, 6,000 towns and five lakh villages in 2008. Currently, the company has 22,000 towers.
According to the proposed agreement, Japan will provide financial assistance to the tune of 81 per cent of the project cost as soft loan.
ETA Engineering, a part of the Dubai-based $4.5-billion ETA-Ascon Group, is investing Rs 40 crore in setting up a manufacturing unit at Sriperumbudur near Chennai for the manufacture of air-conditioning units.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
India's electric mobility goal, which has so far been riding on two wheels, is all set to graduate to four wheels. At least, the journey has begun. Hyundai Motor India said it would invest Rs 4,000 crore till 2028 to launch half-a-dozen electric vehicles (EVs) in India. It would eventually straddle premium and mass segments. The first of these - the electrified version of an internal combustion engine (ICE)-powered model - will go on sale as early as next year.
Air India on Monday said it will progressively induct 30 new aircraft, including 5 wide-body Boeing planes, from December this year, as the Tatas-owned airline looks to boost its domestic and international services. The airline has signed leases and letters of intent for inducting 5 wide-body Boeing and 25 Airbus narrow-body planes over the next 15 months. "These new aircraft, which will enter service from late 2022, will increase the airline's fleet by over 25 per cent.
Hindustan Petroleum Corporation's upcoming Bathinda refinery in Punjab has forced Indian Oil Corporation to reconsider its plans to expand its refinery at Panipat to 21 mtpa.
Plabita beats the heat... Lisa gets woozy in Ladakh...Shefali shares a flight experience...
A phased roll-out of prohibition will hit revenues of companies, which get 5% of their volume sales from the state
With better utilisation of slots, foreign flying rights, and greater international connections, the operator of India's largest airport feels a privatised Air India will bring commercial benefit to Delhi airport and help it revive quicker from the pandemic shock. Delhi is the largest hub for Air India, with most of its long-haul flights to the US and Europe being operated from here. The airport plans to give its most modern terminal 3 (T3) exclusively to the Tata Group.
Demand for the earlier variant 737NG planes is also expected to pick up due to the grounding of MAX planes.
The company has said it will expand the production capacity at its contract manufacturing facility in Baddi (Himachal Pradesh). The company has just inked an agreement with its Baddi-based leading vendor Sarvotham Care Ltd for the purpose. Amway India is a wholly owned Indian subsidiary of the $8.2 billion Amway Corporation, Michigan, USA, one of the largest Direct Selling Companies in the world.
India's services sector activity moderated in December as business activity and sales rose at a softer pace, while price pressures and the possibility of new waves of Covid-19 affected business sentiment, a monthly survey said on Wednesday. The seasonally adjusted India Services Business Activity Index fell from 58.1 in November to a three-month low of 55.5 in December. The rates of expansion moderated but were nevertheless "marked" by historical standards, the survey said.
Chief Economic Advisor V Anantha Nageswaran on Thursday expressed hope that the economy will maintain the trend growth rate of 6.5 per cent and above for the rest of the years in the current decade. The economy will close the current fiscal logging in a growth of 6.5-7 per cent, he said, citing the projections of private sector analysts, Reserve Bank of India (RBI) and international agencies like OECD and the IMF. "This appears to be reasonable at this point in time although we will get the data on the fiscal second quarter in a few days, which will give more clarity on these numbers.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 54.9 in February, up from 54.0 in January, signalling a stronger improvement in the sector's health. The February PMI data pointed to an improvement in overall operating conditions for the eighth straight month. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
Three Indian peacekeepers, who lost their lives serving under the UN flag last year, are among the 103 military, police, and civilian peacekeepers who will be honoured posthumously with a prestigious medal in the United Nations for their service and supreme sacrifice in the line of duty.
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
These include Great Eastern Energy Corporation and Shemaroo Entertainment.
According to the "do's and don'ts" issued by the ministry of home affairs, children below 13 years and elderly persons of about 75 years and above will have to travel in groups. Eco-friendly material, preferably cloth bags, should be used during the pilgrimage and the surroundings should be kept clean.
Jio makes data on call drops public, says 121 mn calls failed in a day
Hundreds of pilots are staring at a long wait to get the job of their dreams after completing the course, the cost of which runs to Rs 1 crore.
Over 93% of the orders in the year came from the central and state governments, PSUs, and NHAI.
Finance Minister Nirmala Sitharaman will have to do a tight-rope walk between staying fiscally prudent and general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy before general elections. Sitharaman will on Wednesday present her fifth straight Budget at a time when the economy is slowing due to global headwinds and specific sectors need attention. In the run-up to the Budget presentation, expectations are rife that she may tweak income-tax slabs to provide relief to the middle class and increase spending on the poor through programmes such as the rural job scheme while ramping up financial incentives for local manufacturing.
Gautam Adani on Tuesday said his ports-to-energy conglomerate never slowed or stopped investing in the country as the group's success is based on its alignment with the India growth story. Speaking at the annual shareholder meeting of the group companies, he said the previously announced $70 billion investment in new energy business will help turn India from being a net importer of oil and gas to an exporter of clean energy. "Never have we walked away from investing in India, never have we slowed our investments," he said. "We believe our scale, our diversified business, and our track record of performance positions us very strongly to continue to perform well in a variety of market conditions."
Five months into office, Prime Minister Narendra Modi will expand and reshuffle his Council of Ministers on Sunday, bringing in new faces and is likely to drop a few.
Kolkata trams -- now in their 150th year -- are the last to survive modernity in Indian cities, writes Ishita Ayan Dutt.
Essar Oil announced on Friday it will spend about $6 billion (Rs 24,000 crore) to more than triple its refining capacity in three years, and that it had shelved a plan to delist the company's shares from the stock market. The company, owned by Mumbai-based Ruias, plans to expand capacity from the current 10.5 million tonnes per annum to 34 million tonnes per annum by 2010.
Power equipment major Bharat Heavy Electricals on Monday announced an investment of upto Rs 1,000 crore (Rs 10 billion) in the next two years for expanding capacities to meet requirements of 11th and 12th five year plans.
Robots are now being used increasingly in the integrated-shell assembly line and robotic bogie-fabrication line. The unit may soon see its phase-II expansion, which will increase its capacity to 2,000 coaches.
'If the authorities go about completing this project the way they have proposed, this is going to cause a HUGE environmental impact not only on Malabar Hill but also on the rest of the city.'
Its revenue during the period grew by 65 per cent to touch Rs 9,458 crore (Rs 94.58 billion), as against Rs 5,718 crore (Rs 57.18 billion) during FY12.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
'Domestic will remain very much the core of what IndiGo is.' 'But the emphasis in our next growth phase is going to be on the international side.'
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
Prime Minister Narendra Modi is likely to announce a host of initiatives for the health sector on Independence Day with the highlights being the 'Heal in India' and 'Heal by India' projects and a roadmap to eliminate sickle cell disease by 2047, official sources said.
The Biden administration has proposed a massive hike in immigration fees, including the much sought-after H-1B visas for high-skilled foreign workers, which is very popular among Indian tech professionals. Under the proposed rule, published by the US Citizenship and Immigration Services (USCIS) on Wednesday, the application for the H-1B visa increases from $460 to $780, and L-1 from $460 to $1,385. The application fee for O-1 visas has been proposed to increase from $460 to $1,055.
