Two of Apple Inc's global vendors -- Wistron and Foxconn (through Han Hoi), which already manufacture Apple phones in India -- and a third entity, Pegatron, which will be setting up a new plant, have applied to the government to be eligible under the PLI scheme for large-scale electronics manufacturers.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Former World champion P V Sindhu needed 36 minutes to get the better of the 21-year-old Chaliha 21-7, 21-18 and set up a last-four meeting with Thailand's Supanida Katethong.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
With the new owner shelling out Rs 18,000 crore for the buyout of 'Maharaja' this would be the highest ever amount garnered through privatisation or even the cumulative sum garnered through strategic sale in 1999-00 to 2003-04. The government had garnered roughly over Rs 5,000 crore during that five-year period by privatising 10 CPSEs.
Grandmaster R Praggnanandhaa opened his campaign in the FTX Crypto Cup, the American finale of Champions Chess Tour, with a 2.5-1.5 win over the world's top junior player Alireza Firouzja in Miami.
Re-rating of Bharat Petroleum Corporation, Container Corporation, Shipping Corporation, SAIL, and Hindustan Copper, for which the government has already shown intent to divest its stake, possible now, say analysts.
The 17-year-old Praggnanandhaa, who started very well on day one with three wins, could only manage four draws on the third day.
Double Olympic medallist PV Sindhu, who is returning from an ankle injury, begins her campaign against former World Champion Carolina Marin of Spain in the first round of Malaysia Open.
A 35-year-old Chinese man was apprehended by the Border Security Force (BSF) from along the India-Bangladesh international border in West Bengal on Thursday, with the paramilitary force saying security agencies are probing if he was working for an intelligence agency of the neighbouring country, officials said.
Ahead of two crucial audits, the Ministry of Civil Aviation (MoCA) has proposed to allow deputy director generals (DGs) and officers of Indian Air Force (IAF) to apply for the post of chief of India's aviation regulator. The current head of the Directorate General of Civil Aviation (DGCA), Arun Kumar, has been promoted as secretary and is expected to move out some time soon. DGCA has four Deputy DGs with experience in different fields of aviation.
India's Grandmaster Arjun Erigaisi edged out fellow teenager Christopher Yoo in the quarter-finals via tie-breaker to reach the last four round of the Julius Baer Generation Cup online rapid chess tournament on Friday.
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas.
China's deteriorating economy is a serious concern. Xi Jinping and China's new premier will have a difficult task ahead of them after the 20th party congress, notes Jayadeva Ranade, the retired senior RA&W officer and China expert.
The department of investment and public asset management is racing against time to launch the LIC IPO, which could become the largest-ever listing on the Indian bourses. This would lead to some delay in the strategic divestment of IDBI Bank.
However, it was curtains for former Commonwealth Games champion Parupalli Kashyap after he went down 10-21 19-21 to Denmark's Hans-Kristian Solberg Vittinghus.
Erigaisi is two points clear of Praggnanandhaa and world champion Carlsen (15 points).
Xi's visit to Nyingchi, bordering Arunachal Pradesh, signals China's opening of another front to India in the eastern sector, observes Srikanth Kondapalli, the leading China expert.
It was touted as a game changer but big-ticket privatisation has been a mixed bag as the government faces unanticipated challenges of lukewarm investor response, employee union agitation and legal hurdles. Prime Minister Narendra Modi's often-repeated statement 'the government has no business to be in business' guided the drawing up of an ambitious privatisation pipeline. While Air India sale succeeded, Bharat Petroleum Corporation Ltd (BPCL) divestment failed.
'What needs to be watched is that the border incidents at Dokalam in 2017 and Galwan in 2020 are triggering nascent Chinese nationalism against India,' asserts Srikanth Kondapalli, the leading China expert.
As Anil Kapoor celebrates his 65th birthday on December 24, Namrata Thakker takes a peek into his FABULOUS life.
In a first, the government has made it mandatory for interested buyers of IDBI Bank to provide details for security clearance from the Ministry of Home Affairs (MHA) in the first stage of the bidding process. So far, in all instances of CPSE privatisation, the government would seek details regarding security clearance of the bidders at the second stage of the bidding process. This meant that bidders who qualified in the first or the Expression of Interest (EoI) round, were required to seek security clearance from the government while placing their financial bids.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
'Qala is the only film in my career where I will be taking baby steps.'
The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
Buoyed by an increase in public investment and incentives to boost manufacturing, India's economy is expected to grow by 8.3 per cent in the fiscal year 2021-22, less than the previous projection early this year before the country was hit by the second wave of the COVID-19 pandemic, the World Bank has said in its latest report. World Bank chief economist for the South Asia Region Hans Timmer told PTI here that when one looks at the high frequency data, they see that as a result of the second wave of the COVID-19 pandemic, the recovery paused, and some indicate that the recovery actually declined briefly. "We project for this fiscal year 8.3 per cent (growth rate for Indian economy) that is less than we projected early in the year before the health crisis caused by the second wave. "Given the sharp contraction of the economy last year, it might not look like a lot, but in my view, that is actually very positive news, given the violent second wave and the severity of the health crisis," he said on Thursday.
In a bid to resurrect Air India privatisation, the government is planning to give flexibility to potential investors to decide on the humongous debt with the national carrier, a top official has said. The flexibility to potential investors on the quantum of the Rs 60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said.
It is not a protest but China's concerns have been conveyed to India, they said.
Major infrastructure projects including swanky airports are changing India's profile as an attractive and enterprising destination.
'It says, we are not just an overseas player -- we are Kia India and here for good'
While many Western countries, including the United States, Britain and Australia, are diplomatically boycotting the Winter Olympics over China's human rights record, Putin will join a number of Beijing-friendly leaders at the Games.
It was yet another forgettable outing in Tokyo for Praneeth, following his struggles at last year's Olympic Games where he participated without a proper coach or physio to eventually bow out early.
Continuing his good run, India's teen prodigy Rameshbabu Praggnanandhaa registered wins against fellow Grandmasters Andrey Esipenko and Alexandra Kosteniuk in rounds 10 and 12 of the Airthings Masters, an online rapid chess tournament.
'China is constantly probing India's weaknesses.' 'The challenge is to implement a strategy that will allow India to buy time, gather its strength, and eventually counter China,' recommends Harsh V Pant and Vinay Kaura.
It was curtains for India at the Scottish Open after men's singles player Anand Pawar and men's doubles pair of Manu Attri and B Sumeeth Reddy bowed out of the 50,000 Grand Prix badminton tournament, in Glasgow.
'Is China's intention not clear?' 'Do we still think that if we are nice to China, it will be good to us?'
'We must understand that the LAC is a political issue for China, so any action on the LAC will keep India focussed on the LAC which gives China the opportunity for any adventurism in the Indian Ocean.'
In a stinging letter, the three wrote, 'We cannot be mouthpiece of such a government which has unleashed oppression on student community'.
'Neither will China -- at least for now -- because its troops are deployed in equal strength.' 'We are negotiating at equal terms right now and it's a game of patience.'
The Sino-Indian border row over Chinese incursion in Ladakh may cast a shadow on the proposed visit of new Chinese Premier Li Keqiang to India, specially his desire to make New Delhi the first stop to send a message of Beijing's desire to improve relations, analysts in Beijing said.
