While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
The government on Wednesday approved a Rs 7,350-crore scheme to boost production of laptops, tablets, all-in-one PCs and servers in the country, as it sought to woo global and domestic players to take advantage of India's manufacturing prowess. Production worth Rs 3.26 lakh crore and exports of Rs 2.45 lakh crore are estimated over the next four years under the new scheme, which is expected to create 1.80 lakh jobs. Briefing reporters after a meeting of the Cabinet, Communications and IT Minister Ravi Shankar Prasad said the Production Linked Incentive (PLI) scheme has been approved for IT hardware products that would cover laptops, tablets, all-in-one PCs and servers.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
The liquidity-fuelled rally will continue for some time, however, fundamentals are getting stretched.
Car sales likely to touch record 3-mn mark by the end of March.
ITC's noodle brand has been caught in the Maggi crossfire.
The first half of the year (H1-2020) was marked by sluggish growth with demand down 26 per cent YoY, while the second half saw recovery. H2-2020 recovered with 19 per cent YoY growth, reports Shivani Shinde.
The wait for the new iPhone is over as the tech giant Apple officially launched its new iPhone 13 and iPhone 13 Pro on September 14.
The US-based company, in collaboration with partners like Wistron and Foxconn, had recently started assembling iPhone 11 in India.
RIL has faced protests from local authorities, activists and residents across India campaigning against masts and roadworks.
With multiple options in the compact sport utility vehicle (SUV) and compact sedan space, the mid-size sedan seems to be losing its charm among customers.
SBI was the top gainer in the Sensex pack, surging around 8 per cent. Tata Steel, Bajaj Finance, HDFC Bank, NTPC, Axis Bank and ICICI Bank also ended with firm gains. On the other hand, TCS, HUL, Bajaj Auto and Infosys were among the laggards.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Car deliveries during the nine-day period saw sharp year-on-year (double-digit increase for most automobile companies.
The BS-VI norms are expected to increase the price of two-wheelers by 10-14 per cent.
Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals.
Exchanges will have to facilitate a more direct interface between clients and the clearing corporation, bypassing intermediaries such as brokers, under this new proposed framework.
Indian PC shipments for the third quarter of CY21 touched a total of 4.5 million, making it India's biggest-ever single quarter. To put this in perspective, it is bigger than the total yearly consumer shipments in 2019, a year before the pandemic hit. As a result, many brands also reported their biggest quarter of PC shipments.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
What will it take for Tesla to plug and play in India? Sector pundits say it's a mix of strategy, getting the price right, timing, the right talent, and above all, patience.
A century-old European bicycle brand gets a makeover under its new Indian owner. But is there room for yet another premium commuter bike?
The proposed reorganisation plan by Reliance Industries Ltd to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly-owned subsidiary is a step towards facilitating participation by strategic investors in the unit, Fitch Ratings said on Tuesday. The reorganisation of the business in Reliance O2C Limited (O2C) "will have a neutral impact on RIL's credit metrics and rating," it said in a statement. The transfer will be on a "slump sale basis", subject to attaining the requisite approvals.
Although Walmart-Flipkart wholesale game-plan is to target about a $150 billion market out of a total pie of $700 billion in the country, the consolidation marks the end of the multi-brand dream of the American retail giant.
BS-VI emission norms and the COVID-19 lockdown impacted the dispatches.
The good news for PepsiCo is that the foods segment has normalised much faster to pre-pandemic levels than beverages.
Plus size models tell us how they took charge of their lives and turned their dreams into reality.
The Fortune's 40 under 40 list for this year was topped by Adam Neuman, Co-founder and CEO, WeWork.
Rising prevalence of work-from-home and e-learning is driving sales of notebooks and tablets for most brands, but Apple's superior performance has more to do with its product quality.
Most of the hirings are, however, in the entry or junior level.
The first leg of the 35-day festive period, which ended with Dussehra, failed to bring any cheer for auto companies. While makers of passenger vehicles struggled to meet demand due to the persistent shortage of semiconductors, a recovery in demand remained elusive for two-wheeler manufacturers despite offers and schemes. The overall season, which ends two days after Diwali, is unlikely to bring any turnaround in either the supply or the demand scenario, said dealers and officials at auto companies.
Experts are of the opinion that though the second half of this financial year will see some recovery, volume growth is likely to remain in single digit as compared to the double-digit rise recorded in past years.
'As the world changes, we will be on a constant change programme too,' advertising agency J Walter Thompson Global Chief Executive Officer Tamara Ingram and South Asia CEO Tarun Rai tell Viveat Susan Pinto.
Cumulative sales of India's top passenger vehicle makers -- Maruti Suzuki, Mahindra and Mahindra, Tata Motors, Honda Cars, and Toyota Kirloskar -- increased to 206,418 units in February over 200,322 units in the same month last year, an increase of 3 per cent.
Banking technology start-up Zeta is the latest entrant to the unicorn club after raising $250 million in its Series C round from SoftBank Vision Fund 2. Sodexo participated as an additional minority investor in the round. Founded by serial entrepreneur and billionaire Bhavin Thurakia, the startup is now valued at $1.4 billion. It is the 14th company this year to cross the $1 billion valuation mark after Meesho, Cred, Pharmeasy, ShareChat, Moglix and others.
The key beneficiary of this expansion in the motorcycle market happens to be Bajaj Auto.
The police in Jalaun have identified nine more victims, including seven minors, on the basis of data recovered from a laptop and other devices seized from an expelled Bharatiya Janata Party office-bearer arrested on charges of sexually exploiting two children, an official said.
The government said that far from targeting any US entity, the purpose was to ensure fairness, healthy competition, and to exercise the ability of governments to tax businesses having a nexus with the Indian market through digital operations.
