"It is very unlikely that we get an M&A opportunity in India as Indian entrepreneurs are doing very well and whatever expansion we are planning in India would be through greenfield projects," Lakshmi Mittal told journalists.
Ranbaxy Group company Fortis Healthcare is targeting a pan-India presence with plans to set up 40 super-speciality hospitals by 2010.
Strong performance by its US subsidiary Novelis and better returns in the copper business helped Hindalco Industries post consolidated revenue growth of 2 per cent quarter-on-quarter (Q-o-Q) to Rs 54,100 crore in the July-September quarter of 2023-23 (Q2FY24). Novelis' Flat Rolled Products (FRP) volumes grew 6 per cent Q-o-Q to 933,000 tonnes (down 5.2 per cent Y-o-Y) on better North American and European volumes. The consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) declined 2 per cent Q-o-Q to Rs 5,610 crore despite lower input costs in India and better Novelis performance.
The Indian Hotels Company, the Tata Group firm which runs the Taj Group of Hotels in the country, is set to expand its offerings by getting into serviced apartments business and by widening the portfolio of its wildlife resorts.
Romania on Tuesday invited investments from India in steel, pharmaceuticals and agriculture sector, even as it offered to share its expertise in the energy sector.
NRI steel tycoon L N Mittal on Wednesday said valuation of steel companies in India had come down significantly but there were no sellers.
BIL International, the holding company of UK's leading hospitality chain Thistle Hotels, plans to enter the Indian market with its international brand, 'Guoman Hotels'.
Tractor maker Sonalika on Tuesday entered into technical alliances with British automaker MG Rover and engine manufacturer PowerTrain to produce multi utility vehicles and diesel engine components, respectively.
Cobra Beer, the beer company promoted by India-born British billionaire Perses Billimoria, is planning to have four breweries in the country.
Foreign Direct Investment flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has said.
Foreign Direct Investment into India rose by 13 per cent in 2020, boosted by interest in the digital sector, and while fund flows "declined most strongly" in major economies such as the UK, the US and Russia due to the Covid-19 pandemic, India and China "bucked the trend", the UN has said.
Given the gestation period for regulatory clearances it is not possible to share any definite timelines.
The Orissa government on Thursday pulled up ArcelorMittal, for "not making any investment" so far in its proposed 12mtpa greenfield steel plant at Keonjhar, questioned its "actual intentions".
'When there are no good roads and no buses plying to villages, your spending on development is skewed.'
The words 'industry', 'industrial development', 'jobs', and 'employment' have been ringing with higher frequency since Mamata Banerjee stepped into her third term with landslide victory after a high-octane election last year. "Our government's next target is industrial development," the chief minister (CM) had been heard stating at different public meetings in the past few months - perhaps setting the tone for the sixth edition of the Bengal Global Business Summit (BGBS) slated for later this month. Investor summits by any state are about intent, big numbers, and tall claims. Yet in competitive federalism, its importance as a marketing tool is undeniable.
Two sites for the location of the airport had earlier been rejected, one of them being Imchi near Gumto, which was cancelled on account of being a riverbed and not having an even ground.
The civil aviation ministry and Maharashtra have been planning an international airport near Pune for almost 10 years. The airport site would see construction from year 2011 onwards, if the land acquisition happens within a year.
The country's first ever carmaker, Hindustan Motors, is looking at a second coming. Talks are on for a joint venture with a European auto company focused on the electric vehicle (EV) space. A memorandum of understanding (MoU) has been signed and due diligence is expected to start shortly and will take 2-3 months to conclude.
The infrastructure spending target for 2020-25 was revised because of additional and amended data provided by central ministries, state governments since the release of the summary NIP Report in December 2019 when it was pegged at Rs 100 trillion.
The massive coal mine in Queensland state has been a controversial topic, with the project expected to produce 2.3 billion tonnes of low-quality coal.
Mega greenfield steel projects announced in the country are set to add more than 100 million ton of capacity, but land acquisition activity for only 16 million ton has begun.
Post-bribery disclosure, Cognizant is not pursuing greenfield expansion in the country and relying on leased facilities for new demands. The incident, which came to light in 2016, is also said to have claimed 200-300 jobs so far mainly in areas like administration, legal, and procurement.
Adani, which already has mining and environmental licences from the state government, requires the state approvals on management plans on the endangered finch bird and groundwater in order to commence the mine construction.
Diwesh Sharan, a deputy director general of ADB, says beside the PPP model and viability gap funding, there is a 3rd option - value capture - to raise funds for India's ambitious infrastructure projects.
The final and last approval for the Adani group's long-delayed billion dollar mega coal mine project came weeks after a surprise election win of Australia's pro-coal ruling coalition led by Prime Minister Scott Morrison.
The state government had recommended prospecting licence in favour of Posco-India thrice, but was unable to get them through.
The government-controlled City and Industrial Development Corporation (Cidco) has kicked off the tendering process for the over Rs 14,500 crore (Rs 145 billion) international airport project in neighbouring Navi Mumbai.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
Richest Indian Gautam Adani-led group's flagship firm on Wednesday filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer (FPO). The FPO of Adani Enterprises Ltd (AEL) is planned to open on January 27 and close on January 31, according to the offer letter. Of the Rs 20,000 crore proceeds of the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway.
Industry experts say that even though international companies face problems in setting up new projects on their own, given the problems associated with acquiring land and rehabilitating the displaced people, their keenness to become a part of the growing Indian market remains intact.
