Indian sweet, snack, and restaurant chain group Bikanervala, with revenues of over Rs 3,000 crore, is working towards an initial public offering (IPO) for its food company in the next three years. Before that, it could also bring in private equity (PE) investors. The low-profile Aggarwal family-owned group company, Bikanervala Foods (which also sells under the brand name Bikano), operates in the snack business.
'India needs offensive and defensive security measures to protect itself.'
Govt wants domestic production so as to save foreign currency.
Chief economist at State Bank of India has revised downward the full-year growth forecast to a low 6.8 per cent from 7.5 per cent earlier for FY2023, citing "the way below GDP numbers for the first quarter". The National Statistical Office on Wednesday released the Q1 growth numbers which showed a consensus growth of 13.5 per cent, pulled down by the poor show of the manufacturing sector, which reported a paltry 4.8 per cent expansion in the first three months of FY23, negating the robust show by the services sector. Consensus forecast was 15-16.7 per cent of which the RBI made the highest forecast of 16.7 per cent.
The push given to rooftop solar installation in the Interim Budget ties in with its high rate of adoption in Tier-II and -III cities of India. If original equipment manufacturers (OEMs) in the automobile industry, government, and the solar sector are to be believed, in cities of Rajasthan, Gujarat, and Kerala, 45-50 per cent of electric-vehicle (EV) users are employing rooftop power to charge their vehicles. This is compared to the national average of 25 per cent, say industry sources.
The Nikkei India Services Purchasing Managers' Index, which tracks the services sector firms on a monthly basis, stood at 50.3 in February, up from 48.7 registered in January.
From trusted bureaucrat, to Wharton, MNC executive to businessman, and now politician, the man in charge of two weighty ministries is a unique all-rounder with specialist knowledge.
At 8 million a month, times two doses, it will take us 17 years to administer the vaccine to our 800 million adults. The rollout must speed up twenty times, asserts Naushad Forbes.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
India Inc on Friday said it is looking forward to a repo rate cut in future as cost of funds has to come down in coming times, and expects continuation of accommodative policy stance by the Reserve Bank of India (RBI). The RBI decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, as the economy faces the brunt of the second COVID-19 wave. Sanjay Aggarwal, president of PHD Chamber of Commerce and Industry, said the RBI has maintained an accommodative stance as long as necessary to revive and sustain growth on a durable basis and to mitigate impact of COVID-19, apart from an aim to keep inflation within the target.
The government has been waiting for the expansion by the private sector, Finance Minister Nirmala Sitharaman said while reminding India Inc of various measures including corporate tax rate cut, policy consistency, ease of doing business, among others to facilitate investment.
They were the source for entry-level recruitments in the IT industry before the job market crash.
With increase in range and payload capability, Madhavan said the new variant will be much superior than Tejas Mark-IA, 73 of which are being procured by the Indian Air Force from the HAL under a Rs 48,000 crore deal that was approved by the government on January 13.
Suresh Prabhu has announced a slew of measures to improve servcies in trains and railway stations
'I would recommend two parts to fiscal support. One, support the lower end of the society by direct intervention through ways such as direct benefit cash transfer. Second, give fiscal support to the stressed sectors in line with the Rs 3-lakh crore (Rs 3 trillion) emergency credit line guarantee norms'
The Supreme Court said on Wednesday it cannot 'control the elections' or issue directions simply because doubts have been raised about the efficacy of Electronic Voting Machines (EVM), as it reserved its judgment on a clutch of petitions claiming the polling devices can be tinkered with to manipulate the results.
India plans to double coal production by 2020
The central government is expected to complete the auction of the 5.9-million tonne (mt) lithium reserves discovered in the Reasi district of the northern Union Territory (UT) of Jammu & Kashmir (J&K) by the end of this calendar year, Union Mines Secretary Vivek Bharadwaj said on the sidelines of the launch of the Federation of Indian Chambers of Commerce and Industry (Ficci) report on 'New-Age Energy Minerals' on Tuesday. "Auction will be over by the end of this year," said Bharadwaj, adding, "We have already recommended a transaction advisor to the J&K government for the auction of lithium reserves." However, the exact timeline for an auction will be decided by J&K authorities, Union mines minister Pralhad Joshi said in Parliament last month.
The market price action seems to point in this direction. Let's hope we finally break out. It is about time! asserts Akash Prakash.
'With Trump, the relationship was very transactional, whereas with President Biden it is very structured.'
'Government shouldn't be in the business of running airlines, instead it should develop the ecosystem of civil aviation.'
'Prime Minister Modi has initiated a host of reforms in the right direction, and I would like to see that continuing.'
With both aircraft likely to meet the IAF's performance requirements, the winning bid could be the one that offers the lowest cost and the best industrial proposal.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
According to the IHS Markit India Business Outlook, predictions of softer activity growth underpin the downward revisions of profit outlook, subdued hiring plans and relatively muted capital expenditure.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
On the other hand, jobs increased for the 10th straight month in the manufacturing sector, albeit only slightly
The government was going in the "wrong direction" and it was "highly condemnable" that it did not discuss the proposed changes with trade unions and other stakeholders, says BMS, trade union arm of the RSS.
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Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
'We will have to wait for one more year to cross the 7% mark, which should be possible in the absence of any disruptive reform,' points out CARE Ratings Chief Economist Madan Sabnavis.
Global private equity investor Advent International on Monday said it is acquiring a significant stake in Suven Pharmaceuticals from its promoters, the Jasti family. The PE major said this will be followed with an open offer to acquire 26 per cent more in the listed contract development and manufacturing organisation from public shareholders, and also merge the company with investee company Cohance Lifesciences, as per an official statement. Media reports on a Monday morning pegged the acquisition at Rs 6,300 crore, and that Advent had pipped rival Blackstone for the acquisition.
India's plan to produce ethanol from second-generation (2G) sources -- mainly farm waste -- is taking time to materialise even as the government is set to dedicate to the nation on Wednesday a Rs 900-crore plant set up by Indian Oil Corporation (IOC) in Panipat. Though state-run oil companies had decided to set up at least 12 plants in 2016-17 with an investment of around Rs 10,000 crore, this will be the first unit coming on track while others are stuck in various stages owing to issues like capital expenditure, lack of feedstock, and high rates of finished products compared to traditional ethanol units. According to industry sources, three more second-generation plants are coming up.
'Unless India ups the ante, Beijing will continue to believe its transgressions are cost free and will feel encouraged to do more of the same.'
After agonizing over this for weeks, he made a decision. When they met after work one evening, he startled her by blurting out, 'I think we should break up.' A moving excerpt from Chitra Banerjee Divakaruni's An Uncommon Love: The Early Life of Sudha and Narayana Murthy.
'Once we are past this electoral season, during which all promises are presented as free lunches, could we bring such non-populist issues into focus?' 'Like fixing the problems of the public sector?' points out T N Ninan.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
'This is part of our efforts to make it easier to do business.'
Vardhan stated the government is taking full precautions in human trials of vaccines and the National Expert Group on Vaccine Administration for COVID-19 under the chairmanship of Dr V K Paul, member-health, NITI Aayog, is drawing up a detailed strategy on how to immunize the majority of the population.
The damage to aircraft estimated to be around Rs 200 crore.
