Taiwanese electronics manufacturing giant Foxconn sees potential of investing several billions of dollars in India if it gets to completely implement its plan, a top official of the company said. Hon Hai Technology Group (Foxconn) chairman and CEO Young Liu during the company's second quarter earnings call on Friday said that the company's Indian arm has achieved the turnover of close to $10 billion on an annual basis and there is a lot of investment potential in India. "Foxconn annual revenue was $200 billion.
Having already received and deployed the first lot of around 72,500 Sig Sauer assault rifles from the US for counter-terrorist operations, the new batch of these assault rifles would be given to the soldiers deployed on the front with China in Eastern Ladakh.
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
Diwali fireworks are expected to continue on Dalal Street next week, with four companies collectively seeking to mobilise over Rs 6,600 crore through initial public offerings (IPOs). In terms of the amount raised, this is poised to be the busiest week of calendar year 2023. Tata Technologies (Tata Tech), a subsidiary of Tata Motors, could lead the charge with an IPO projected to be over Rs 2,900 crore. This will mark the first maiden share sale by a Tata Group firm in nearly two decades.
Of the 156 choppers, 66 would be inducted by the Indian Air Force while the rest 90 would be acquired by the Indian Army.
While the Army will be getting around 100 light utility helicopters, it is also looking at the option of taking choppers on lease to meet its requirement.
The company faced severe demand contraction in its principal market segments due to the global financial crisis. Trevira manufactures high-value branded polyester fibers and filament yarns for the automotive industries, home textiles as well as for technical applications.
India is also likely to sign a deal to buy MQ-9B Predator armed drones from US manufacturer General Atomics.
The ministry of defence has set a goal of $26 billion, including export of $7 billion for the industry by 2025-26 through its Defence Production Policy 2018.
'The Russian attack might be a wakeup call for Europe.'
China has spent half a century plotting to defeat America and in some respects, the Chinese military is already at par with the US armed forces, Haley said in a major policy speech on the economy in the key early primary State of New Hampshire on Friday.
The destruction of the factory -- located in Dantewada's Singamadagu village -- is crucial because of the kind of firepower that it had been generating for the Maoist guerillas.
'India can be the next growth leader for us.'
Drug major Sun Pharma is recalling over 34,000 bottles of a generic medication, used to treat high blood pressure, in the US market due to failed dissolution testing. As per the US Food and Drug Administration's Enforcement Report, the US-based arm of Sun Pharmaceutical Industries is recalling lots of Diltiazem Hydrochloride extended-release capsules which are used to treat angina, high blood pressure and some types of irregular heartbeats.
Against the backdrop of efforts to increase indigenisation to avoid defence scams, Defence Minister A K Antony on Tuesday asked the Indian Air Force to reduce its dependence on imports and work towards achieving self reliance in military weapon systems.
Morgan Stanley Sales & Trading, US, believes the stock is better value for money than others and has a upside as high as 73 per cent. A slowdown in the economy has hit demand and led to a fall in overall consumption in an auto market which till recently was one of the fastest growing in the world.
The defence ministry on Thursday accorded its approval to procure 30 MQ-9B Predator drones from the US to crank up the surveillance apparatus of the armed forces, especially along the frontier with China, people familiar with the development said.
Last month, Bhatt said Kalashnikov AK-203 rifles for Indian armed forces were under manufacturing and testing stage at an Indo-Russian joint venture at Korwa in Uttar Pradesh.
A terror operative who was the main shooter in the grenade attack on the Punjab police intelligence headquarters in Mohali last year has been arrested from Uttar Pradesh, an official of the National Investigation Agency (NIA) said on Wednesday.
Poll violence has so far claimed two lives in West Bengal and left 371 persons injured in 398 incidents, the Election Commission said on Monday.
Mahindra & Mahindra, the diversified business group with significant interest in automotive and information technology, is looking at setting up an aircraft financing arm in Australia
In line with the government's vision of 'Aatmanirbhar Bharat', the ministry of defence on Thursday signed contracts with Indian shipyards for the acquisition of 11 next generation offshore patrol vessels and six next generation missile vessels at a cost of nearly Rs 19,600 crore, officials said.
Vedanta chairman Anil Agarwal on Saturday pressed for further liberalisation of the defence sector and called for corporatisation of defence factories to make the country self reliant in respect of arms and ammunition. There are 52 defence factories for manufacturing arms and ammunition in the country but most of them are running at 10 per cent capacity, he said. "We (India) can be the largest producer of arms and ammunition. "If the defence factories are corporatised it will bring in a new way of thinking," Agarwal said while addressing the inauguration of a post graduate programme for executives virtually from London.
Indian conglomerate Vedanta has earmarked $15 billion for foray into the electronic chip and display manufacturing space, and plans to scale up the investment to as much as $20 billion, a senior company official said. Vedanta's group firm Avanstrate, which will spearhead the semiconductor business, expects to roll out electronic chips and displays from Indian manufacturing plants by 2025, the official of the group's semiconductor arm said on Friday. "Semiconductor is a long-term business. We are looking at about $10 billion on display.
It said the acceptance of necessity accorded to the procurement by the Defence Acquisition Council noted the estimated cost of $3,072 million as provided by the US government, adding the price will be negotiated once policy approval from Washington is received.
Arms dealer Sanjay Bhandari, who is under the scanner of multiple investigating agencies, may have fled the country, a media report claimed on Thursday.
At present, the Pralay ballistic missiles can take out targets from 150 to 500 km and are extremely difficult to intercept for the enemy through interceptor missiles.
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
Wipro is betting on artificial intelligence (AI) and Cloud computing to earn more from its biggest contributor - the banking, financial services & insurance (BFSI) sector - which brought in 35 per cent of the revenue in FY23. The Bengaluru-headquartered firm also expects its consultancy arm Capco to aid in its vision. "Over the past few years, we have made significant investments in the BFSI sector and have improved our talent, capabilities, and processes in this space - both through organic investments and with the addition of Capco," Suzanne Dann, Wipro's chief executive officer for Americas 2 said.
The Indian troops guarding the nearly 3,500-km Line of Actual Control (LAC) maintained an assertive approach in sync with the broader national security doctrine and procured a variety of military platforms and weapons to enhance their combat capabilities.
The Russian defence ministry said that Ukrainian forces hit six rockets of HIMARS at the temporary deployment point of one of the units of Russian armed forces in Makiivka region of Donetsk.
As an income tax tribunal on Monday said Rs 41 crore as commission were paid to late Win Chaddha, an agent of the Swedish arms manufacturer Bofors, and Italian businessman Ottavio Quattrochchi in the gun deal, the Bharatiya Janata Party on Monday condemned Congress President Sonia Gandhi's plan to fight graft and demanded a Special Investigative Team to look afresh at the whole issue saying there should be no cover-up.
Prime Minister Narendra Damodardas Modi laid the foundation stone in Vadodara on Sunday, October 30, 2022, for a facility to produce C-295 military transport aircraft.
The Bofors ghost returned to haunt the Congress party with an income tax tribunal saying that kickbacks of Rs 41 crore were paid to late Win Chaddha, an agent of the Swedish arms manufacturer and Italian businessman Ottavio Quattrocchi in the Howitzer gun deal and that they are liable to pay tax in India on such income.
EAM Jaishankar's mission is aimed at strengthening India's strategic autonomy in a complex international environment, observes Ambassador M K Bhadrakumar.
Two Reliance group firms - Reliance Consumer Products Ltd (RCPL) and Reliance Retail Ventures Ltd (RRVL) - have announced an open offer to acquire a 26 per cent additional stake in Lotus Chocolate. The firms will together acquire 33.38 lakh shares of Lotus Chocolate from the open market at a fixed price of Rs 115.50 per share, said a notice by DAM Capital, which is managing the offer. The offer will aggregate to a total consideration of Rs 38.56 crore over the full acceptance, said an open offer-detailed public statement shared by the company with stock exchanges on Thursday.
There is the problem of regions in the North East being theatre for power-play by nations with borders and influences converging in those parts, which in turn requires a sizable presence of the armed forces, notes Shyam G Menon.
Honda Siel Cars India is seriously considering Tamil Nadu and three other states for setting up its second India manufacturing facility, which will be producing small cars.
