Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
There is a huge opportunity for foreign investment in India as the government focuses on rapid infrastructure development in the country, Finance Minister P Chidambaram said.
About 50 countries, including Canada, Mexico, Nigeria and Panama, have shown interest in having a Co-WIN like system to run their vaccination drive, a senior official said on Monday, adding India is ready to share the open source software free of cost.
President Pranab Mukherjee has given nod to re-promulgation of the controversial land ordinance, which could not be converted into law during the recently concluded Budget Session of Parliament, for the third time.
The fledgling Akasa Air has told the Delhi high court it is in a "state of crisis" following the "sudden and abrupt" resignation of over 40 pilots who left the airline without serving the mandatory notice period. The airline and its CEO Vinay Dube approached the high court with their petition on September 14, seeking a direction to the Directorate General of Civil Aviation (DGCA) to take coercive action against these pilots for their "irresponsible actions". The high court has fixed the plea for hearing on Friday.
The employees associated with various unions of AAI have formed a joint forum and started the three-day-long strike in front of the Civil Aviation Ministry at Rajiv Gandhi Bhawan here and at AAI offices across the country.
In a show of solidarity, the CEOs of some 40 top American companies have come together to create a global task force to mobilise resources to help India fight the battle against Covid-19.
Given the broken balance sheet and the limited fiscal room, the government has to kick off investment: Vikas Khemani & Stephen Gallagher.
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.
It should stop what it is deliberately doing to the NGO sector and let it operate as freely as the rest of the private sector, asserts Aakar Patel.
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
Hyderabad-based Gold Stone Group, which sells BYD buses in the country, is setting up a greenfield manufacturing facility at a cost of around Rs 200 crore
In the latest draft of the Code on Social Security Bill, 2019, the government has decided to stick to the current thresholds for providing social security benefits to workers by industry.
4,000 dialysis units to be set up across India, government working on providing free basic healthcare to BPL families.
US president Barack Obama new initiative to help millions of proud Indian-Americans directly invest in India's future.
Qatar Investment Authority (QIA) will acquire around 1 per cent stake in Reliance Retail Ventures Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led Reliance Industries, by investing Rs 8,278 crore ($1 billion). A QIA's wholly-owned subsidiary will make the investment in India's largest retailer at a valuation of Rs 8.278 lakh crore ($100 billion). Updating about the development, Reliance Industries in a regulatory filing said: "QIA's investment will translate into a minority equity stake of 0.99 per cent in RRVL on a fully-diluted basis." RRVL is the holding company for all retail businesses of Reliance Industries Ltd (RIL).
SmartCity project is in advanced stage.
In the past one week alone, Rajasthan, Madhya Pradesh, Chhattisgarh, and Andhra Pradesh have issued orders to take over private hospitals in some districts. Sohini Das, Vinay Umarji and Gireesh Babu report.
Private sector firms need to be re-engaged for better infra planning.
A tribunal consented with the decision of the newly constituted board of the IL&FS and observed that the initiation of bankruptcy proceedings was the best option for the two firms.
The assumption clearly was that project execution timelines would be adhered to and revenues would flow in as scheduled.
Additional infrastructure for dining rooms in each of the school has been recommended.
In 2009, the UPA government, had announced a slew of measures to boost liquidity in NBFCs. These included a scheme for providing liquidity support to NBFCs having assets size of over Rs 100 crore through a SPV.
'The two-word answer is: Proper oversight,' says T N Ninan.
'Mr (Gautam) Adani invested in Vizhinjam port when no other viable party was willing to bid.' 'He has also been active in charitable work and CSR projects in our coastal areas.' 'As the local MP, I do not judge the local situation purely through the prism of politics.'
The company hopes to revive its fortune with the move
A 20-member delegation of leading industrialists, including Harsh Neotia, Sanjay Budhia, Sanjay Agarwal and Utsav Parekh, are also accompanying her on the trip.
Reliance Industries' (RIL's) retail arm, Reliance Retail, is now valued at nearly twice the amount of its decades-old and lucrative oil-to-chemical (O2C) division. Bernstein's latest report on the conglomerate projects a valuation of $112 billion for its retail business, dwarfing the $57 billion valuation of its O2C division. In addition, the research firm valued Jio Platforms, the company's telecom arm, at $77 billion and the renewable energy business at $17 billion.
The Adanis were the highest bidder for the Ahmedabad, Thiruvananthapuram, Lucknow, Mangaluru and Jaipur airports.
The government plans to create 50 to 100 rural business hubs through public-private-panchayat partnership throughout the country, so as to equally distribute the benefits of economic growth.
Gadkari said, infrastructure sector including highways, airports, inland waterways, railways, logistic parks, broad gauge and metro, apart from MSMEs can attract large scale foreign investment.
The company seeks floor area ratio of 3, against the permitted 2, from Uttar Pradesh.
The decision was in contravention of the provisions of the master services agreement signed between the company and the Ministry of External Affairs (MEA) on October 13, 2008, says TCS
Clarifies over the raging media controversy over its intent to exit
Menlo Park Mayor Catherine Carlton is leading a 3-member team to Kerala.
The airports were refurbished at the cost of Rs 2,325 cr and Rs 2,015 cr respectively but there have been various complaints.
The President said low cost airports would be developed to promote air connectivity to smaller towns.
According to the agreement between the government and the company, the Rs 7525 crore project is scheduled to be completed by December 4, 2019.
Farmers shouldn't be denied right to approach court, the MPs added.
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