The effective cost of the fully made-in-India phone will be zero, as against the minimum Rs 3-4.5k cost for a smartphone, Ambani said.
Aramco also plans to invest in building India's largest oil refinery on the country's west coast.
Upfront payment of Rs 32,000 cr just half of Budget estimate; no takers for 700 & 900 megahertz bands
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
Reliance Jio and Facebook will look to use WhatsApp for delivering goods from local neighbourhood kirana stores to consumers before expanding collaboration in education and healthcare sector, billionaire Mukesh Ambani said soon after announcing the mega Rs 43,574 -crore deal. "All of us at Reliance and Jio are delighted to welcome Facebook Inc," he said in a short video message posted on the group's social media handles.
With the State Bank of India moving the National Company Law Tribunal's Delhi bench to enforce the personal guarantees of Ambani, it will delay the recovery of dues by the Chinese banks which won a UK court order in May this year.
VIL has countered Trai's contention that the RedX plan, which commits higher speeds, should have been informed separately so different aspects could have been examined before such service was launched.
'We have filed our draft red herring prospectus for a floating IPO for a net offer size of 86.6 million shares.'
Indian policy-makers must see the choices before them as economic, not moral, ones, says Ajit Balakrishnan.
India's total online shopper base at 30 per cent of its internet population is low when compared with 78 per cent in China and 70-plus per cent in the US.
India's stand is important against the backdrop of US FCC's decision to roll back its net neutrality rules adopted in 2015
Only the government's emphasis on infrastructure, special announcements on key sectors like telecom, automobiles, etc in the coming Budget can bring cheer to the plastic industry.
Schuldschein is an alternative way to raise funds instead of loans or bonds and deals can run from $12 million to more than $1.13 billion. These instruments include tranches of different maturities and currencies and investors are spread across the world.
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
British telecom giant Vodafone's Indian-origin CEO Arun Sarin, who announced his surprise resignation on Tuesday, has fared worse than the global average when it comes to the tenure as chief of a company.
As the Indian equities signed off 2019 on a remarkable note, the m-cap of BSE-listed companies rose by Rs 11,05,363.35 crore to Rs 1,55,53,829.04 crore.
Pune-based entrepreneur's unlisted company is already the largest vaccine manufacturer in the world and the networth has been helped by vaccine distribution and manufacturing potential of his business, it added. Recentrly, Serum struck an agreement with AstraZeneca to manufacture 1 billion doses of coronavirus vaccine being developed by Oxford University.
India is looking at 5G technology as a major opportunity in terms of offering services tailored for rural India like telehealth, tele-education and bandwidth-heavy applications
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
Terming investment in infrastructure "quintessential" to boost growth, the Economic Survey on Friday said post unlocking of the economy, infra sectors are poised for growth and construction of roads is expected to return to the high pace attained before COVID-19. The infrastructure sector will be the key to overall economic growth and macroeconomic stability, the Survey said emphasising that the year after the crisis (2021-22) will require sustained and calibrated measures to facilitate the process of economic recovery and enable the economy to get back on its long-term growth trajectory. "Basic infrastructure facilities in the country provide the foundation of growth. In the absence of adequate infrastructure, the economy operates at a suboptimal level and remains distant from its potential and frontier growth trajectory.
The Indian industry stands staunchly opposed to job reservations in the private sector, Bharti Group promoter and Confederation of Indian Industry vice-president Sunil Mittal has said as he vowed to fight the move at every fora.
The move by these broadcasters comes close on the heels of the Telecom Regulatory Authority of India announcing a review of its earlier tariff order, announced six months ago, which among others capped the prices for la carte channels.
Regulators will need to allow the model to evolve to allow profits to flow, says Una Gulani.
The US and Europe are key markets for the over $ 140 billion Indian outsourcing sector.
Ten central trade unions except Bharatiya Mazdoor Sangh are observing one-day general strike on Thursday to protest against various government policies.
Bharti's ratings headroom is likely to improve with an equity infusion, planned asset sales and growing EBITDA from Africa.
According to industry insiders, India has 400 million smartphones and is the world's fastest-growing app market. So the addition or deletion of apps impacts the global valuations of these platforms. "Based on calls given by various local organisations to delete Chinese Apps, there will be an impact," said Blaise Fernandes, director at foreign policy think tank Gateway House. "All of them eventually will go the IPO (initial public offering) route so there would be economic impact also."
The launch of Reliance Jio Infocomm Ltd last September, particularly the tariff war it has unleashed on its competitors, has deepened the crisis facing India's telecom sector. One offshoot of this is the major drop in earnings reported by industry leaders Bharti Airtel and Idea Cellular with each passing quarter. Aslam Hunani/Rediff.com tells the story in numbers.
With the growth of mobile phone and internet users, consumers of digital music have increased manifold.
The proposal was put forward by Telecom and IT Minister Kapil Sibal who is on his four-day visit to Japan to attract investments in the Indian ICT sector.
The job placement rate for students trained by NIIT in China is over 90 per cent.' A revealing excerpt from Saibal Dasgupta's Running With The Dragon: How India Should Do Business With China.
'For equities, inflation trending upwards but within the range of expectations can actually be a big positive as it helps earnings and may shift flows from bonds to equities.'
Total subscriber base at the end of November 2011 stood at 663.78 million users.
Govt wants to up investment in Railways
With Sundar Pichai becoming the CEO of Google, India has one more reason to cheer its prowess in the global IT sector.
'Unless cash has ceased to be king, the issue is the same in the aviation, telecom and ecommerce sectors: Sustainability,' notes T N Ninan.
Recent investigations into the telecom spectrum and coal scams have made bureaucrats very wary of taking decisions.
15 per cent of startups in Silicon Valley are founded by Indians.
With a new $100-billion technology fund, SoftBank is likely to go after market leaders.
