Credit Suisse said if the deal fructifies, then this will bring together the largest offline and online retailers in India.
India's manufacturing sector growth steadied in May, with new orders and production increasing at similar rates to those registered in the previous month, while demand showed signs of resilience and improved further in spite of another uptick in selling prices, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) stood at 54.6 in May, little changed from 54.7 in April, pointing to a sustained recovery across the sector. The May PMI data pointed to an improvement in overall operating conditions for the eleventh straight month.
Prime Minister Narendra Modi on Monday launched e-RUPI, a person and purpose specific digital payment solution that is aimed at improving transparency and targeted delivery of benefits. Over the years, several programmes have been launched to ensure that the benefits reach its intended beneficiaries in a targeted and leakproof manner, with limited touch points between the government and the beneficiary. The concept of electronic voucher takes forward this vision of good governance. To begin with e-RUPI facility is available for health services and will be expanded to other segments.
The patent application for 'System and method for wearable electronic devices', filed in 2007, mentions various wearable models including a shoe that can communicate data to the user, electronic communication devices attached to clothes, wireless ear pieces and ankle bracelets that can transmit updated information from the body to the user. The drawings the company submitted to the patent office also show the design of a shoe that can be a wearable electronic device.
'Last year we sold 18 million phones in India, this year we should do 23-24 million, and next year our target is to hit 40 million.'
Singh made the remarks while addressing a "CEOs' Roundtable" at the 14th edition of Aero India at the Yelahanka Air Force station complex on the outskirts of Bengaluru.
Modi hit out at the Congress for its president Mallikarjun Kharge's attempt to play down his party's poor show in the polls by describing it as "small state elections".
Most players are looking to invest anywhere between $500 million and $1 billion in new ventures in the next couple of years, said experts on this segment.
Categories such as lifestyle, food and electronics accounted for over 1,350 sellers across the country last year.
Close to six months since the launch of Tata Neu, the super application (app) from Tata Sons Group is all set for a revamp. The highlights include a reimagined rewards programme or NeuPass, a more seamless user experience by increasing the digital maturity of brands, adding more brands to the platform, and hiring category leaders to drive the next phase of growth. When it comes to brands, Titan will join Tata Neu by Diwali. Tata Motors and Air India will be on board after the Festival of Lights.
A few days ago, Reliance Retail surprised the market by acquiring the Campa brand from Delhi-based Pure Drinks Ltd for Rs 22 crore. A successful cola brand in the eighties, especially in North India, Campa Cola thrived when Coke exited India in the late seventies. When the Atlanta-based major returned and PepsiCo set base in India, it went down fighting.
Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
'Why does a State that sees a national security issue at every turn not recognise the seriousness of the data from sensitive databases being breached?'
The agency is also examining the documents seized during raids at 31 places including the residence of Delhi Deputy Chief Minister Manish Sisodia on Friday, they said.
Microsoft has become the first global Big Tech company to join the Open Network for Digital Commerce (ONDC), an Indian government initiative for developing a first-of-its-kind open network for digital commerce. The world's second-largest technology firm intends to introduce social e-commerce via its app in the Indian market later this year. ONDC is expected to open to the public in Bengaluru over the next fortnight as it enters into the next phase of the pilot for further fine-tuning before rollouts in other cities, according to a source in the know.
Postal ballot facility for eligible overseas Indian electors cannot be extended for the upcoming assembly polls as the matter is still under discussion with the Ministry of External Affairs to iron out logistical challenges in implementing the proposal, Lok Sabha was informed.
Finance Minister Nirmala Sitharaman on Monday called on President Ram Nath Kovind before presenting the Union Budget 2021-22. As per established tradition, the Finance Minister met the President at the Rashtrapati Bhawan before heading to Parliament. The Union Cabinet will meet at 10.15 am to clear the Budget.
Union Education Minister Dharmendra Pradhan on Tuesday said the Centre is planning to set up 'PM Shri Schools' which will be aimed at preparing students for future and will be the laboratory of new National Education Policy (NEP). nbsp
Global energy supermajor BP plc on Thursday said it is about to open its first 'Jio-bp' branded petrol pump in partnership with Reliance Industries near Mumbai.
'Nobody is talking about the inequality that is going to come.'
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.
Rakesh Jhunjhunwala's holding value in Nazara Technologies crossed the Rs 1,000-crore mark. In the past one month, the market price of Nazara, a diversified gaming and sports media platform, has zoomed 78 per cent. In comparison, the Sensex was up 3 per cent during the same period.
Apple and Samsung are international players and should work as a team with domestic companies to transform India into a global powerhouse: IT Minister Ravi Shankar Prasad.
With a million-odd electric vehicles (EVs) - two-wheelers, e-rickshaws, buses and passenger cars - expected to hit the road this calendar year, the shift from gasoline-powered vehicles has become irreversible. Now the question is whether the supply chain is ready for this shift. Key components - the high-powered lithium-ion battery and the cells which go with it, the electric motor, and the electronics powered by chips - account for nearly 60 per cent of the cost of an EV.
At the end of the day, Stalin expressing solidarity with an arrested colleague is one thing, especially if he too felt that the minister had been wronged, but for him to retain the person in office sets a bad precedent, which would not go unnoticed by voters, points out N Sathiya Moorthy.
In a business friendly move, the Reserve Bank of India on Friday said that the Real Time Gross Settlement (RTGS) system, used for large value transactions, will be made available round-the-clock in the next few days. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
Political controversies aside, Twitter's business in India is expanding, and creating opportunities for Indians, reports Neha Alawadhi.
Tech giant Microsoft will set up its largest and fourth data centre in India at Hyderabad with an investment outlay of over Rs 15,000 crore over a period of 15 years. "I am very happy to say today that Hyderabad will be the destination for Microsoft's largest Data Centre investment in India with an investment of over Rs 15,000 crore over a period of 15 years. "This will be one of the largest FDIs that Telangana has attracted," Telangana Minister for IT and Industries KT Rama Rao on Monday said at an event marking the announcement of Microsoft's latest data centre region in Hyderabad.
Unveiling his infrastructure conglomerate's green vision, billionaire Gautam Adani on Tuesday said his group will invest $20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron. The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centres with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 per cent of capital expenditure until 2025 in green technologies, he said. Speaking at JP Morgan India Investor Summit, Adani Group chairman said the USD 20 billion investment will be in renewable energy generation, component manufacturing, transmission and distribution.
Digital, new energy, supply chain resilience and health will be the themes of the over $100-billion Tata group's strategy going forward, according to its chairman N Chandrasekaran even as he asserted that all ambitions are contingent on learning to live with the coronavirus. In his New Year address to the over 8 lakh employees of salt-to-software conglomerate, Chandrasekaran said businesses and society must adapt to the virus by preparing as "best we can for new outbreaks and variants. We are seeing this now with the spread of Omicron". Reflecting on the year gone by, he said the group is becoming "simpler and financially stronger than we have been in a long time".
The Rs 1.5-trillion-a-year industry has ended the year with a 30 per cent fall in sales because after a steady recovery in the festive season, multiple factors dashed its hopes of revival at the end of the year.
Sectors, which, recorded healthy export growth included electronics, engineering, chemicals, pharma and tea.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
Indian auto industry's dependence on China is high and it will continue to be so in the BS-VI era and as the country moves towards electric mobility. Domestic players lack both technological competence and the sheer pricing advantage that support Chinese imports.
'Periods of high volatility are usually bad for mid-caps and this is something that has to be kept in mind.' 'Focus on quality is of paramount importance.'
Tata Motors on Wednesday expanded its electric vehicle range in the country with the launch of Nexon EV MAX, priced between Rs 17.74-19.24 lakh (ex-showroom). Equipped with a 40.5 kWh lithium-ion battery pack, the Nexon EV Max offers 33 per cent higher battery capacity than the Nexon EV, delivering ARAI certified range of 437 km (under standard testing conditions), ensuring uninterrupted inter-city travel. ARAI refers to Automotive Research Association of India. The model produces 105 kW (143 PS) of power and delivers a torque of 250 Nm, resulting in 0 to 100 sprint times in under 9 seconds.
Although the pact would focus mainly on the Pacific and the South China Sea region, any action designed to deter China with or without New Delhi's active participation is a welcome move, notes Commodore Venugopal Menon (retd).
The Indian government on Tuesday posed 14 questions to WhatsApp on its "invasive" changes in Terms of Service and Privacy Policy.
The states were advised to plan for the requisite number of isolation, oxygen supported and ICU beds based on the prevalent and expected case growth rate. the Ministry of Health and Family Welfare is also monitoring the COVID-19 hospital infrastructure, he said.
Priced at 21,999, this 14-inch device is as fair a deal as they come.
