The fund would be promoted by three partners - Deepak Kavadia, Palak Jain, and Philip Ho, Managing Director of US-based private equity fund Cornell Capital. The promoters would own 75 per stake in the firm. "We are in talks with 10 large players at global scale.
The Assam government has banned the serving and consumption of beef in restaurants, hotels, and public places. The decision was made at a meeting of the state cabinet to amend the existing law on beef consumption. Chief Minister Himanta Biswa Sarma said the current law is strong but there has been no prohibition on beef consumption at restaurants, hotels, and religious or social gatherings. The new law aims to put a complete ban on consumption of beef in public places in Assam.
NSE Indices Ltd, an arm of the National Stock Exchange (NSE), on Tuesday launched the country's first-ever Real Estate Investment Trusts and Infrastructure Investment Trusts index -- Nifty REITs and InvITs Index. The index aims to track the performance of REITs and InvITs that are publicly listed and traded on the NSE, the exchange said in a statement. A real estate investment trust (REIT) or an infrastructure investment trust (InvIT) is an investment vehicle that owns revenue-generating real estate or infrastructure assets.
The chief engineer of 'Project Vartak', Brig Raman Kumar told ANI that the Border Roads Organisation (BRO) is developing and maintaining all road networks in the key border areas of western Assam and western Arunachal Pradesh.
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.
"My aim is to make Maharashtra the world's big financial powerhouse and to make Mumbai a global fintech capital," he said.
The Indian economy is recovering from the slowdown in momentum witnessed in the September quarter, driven by strong festival activity and a sustained upswing in rural demand, according to a Reserve Bank of India (RBI) bulletin released on Tuesday. An article on the 'State of the Economy' in the December bulletin noted that the global economy continues to exhibit resilience with steady growth and moderating inflation.
Given the broken balance sheet and the limited fiscal room, the government has to kick off investment: Vikas Khemani & Stephen Gallagher.
'There's a misconception that all Rs 1 lakh crore will be spent immediately, leading to higher consumption of FMCG goods, travel, and vehicle purchases.' 'While some of this money will go toward consumption, not all of it will.' 'The impact depends on where people deploy their savings.'
The Galwan clash occurred six months after the Doklam disengagement and two high-profile meetings. India should not be caught by surprise once again, asserts former foreign secretary Shyam Saran.
'Additionally, the significant employment multiplier will boost direct and indirect jobs of up to 1.1 million.'
The Finance Ministry has called a meeting of heads of public sector banks to clear stalled projects.
With little more than two years until the kickoff of the 2014 World Cup in Brazil, nearly 41 percent of the infrastructure projects planned by the government haven't left the drawing board, according to an official report released on Wednesday.
Mumbai-based Gammon Infrastructure wishes to buy stakes in international airport projects. The company is already in talks with companies that have won such projects in developing economies. "We expect the first such deal to close in six months," said Managing Director Parvez Umrigar.
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
'China is India's primary strategic challenge, which will not go away.
The Competition Commission of India (CCI) on Tuesday said it has approved Reliance Retail Venture's acquisition of German firm Metro AG's wholesale operations in India. Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Reliance Industries Ltd (RIL) while Metro Cash & Carry India is engaged in the wholesale operations in India. In December last year, it was announced that RRVL had signed definitive agreements to acquire a 100 per cent equity stake in the company for a total cash consideration of Rs 2,850 crore.
Defence Minister Rajnath Singh on Saturday said India has never attacked any country out of hatred or contempt but if its interests are threatened, 'we will not hesitate to take a big step'.
Automobile retail sales increased 9 per cent year-on-year in June quarter FY25 with all segments, barring tractors, reporting growth, dealers' body FADA said on Monday. Overall retail sales rose to 61,91,225 units in the April-June period from 56,59,060 units in the same quarter of FY24. Passenger vehicle retails increased 2.53 per cent to 920,047 units as against 897,361 units a year ago.
Jammu and Kashmir Chief Minister Omar Abdullah has said that India and Pakistan came closer to resolving the Kashmir issue during the Manmohan Singh-led UPA government. He added that he does not expect a return to that situation in his lifetime. Abdullah lauded Singh's efforts on Kashmir, including the setting up of working groups on the issue, and said he practically initiated measures for the return of displaced Kashmiri Pandits. The chief minister also praised Singh's contribution to India's economic development.
The government on Wednesday approved 12 new industrial cities in 10 states on the lines of Greater Noida in Uttar Pradesh and Dholera in Gujarat to boost domestic manufacturing with an estimated investment of Rs 28,602 crore. These industrial areas will be in Khurpia in Uttarakhand, Rajpura-Patiala in Punjab, Dighi in Maharashtra, Palakkad in Kerala, Agra and Prayagraj in UP, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in AP, and Jodhpur-Pali in Rajasthan, and one in Haryana. A decision in this regard was taken in a meeting of the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi.
Some of the reasons for time overruns were delay in land acquisition, delay in forest clearance, Maoist activities, law and order, delay in supply of material.
'The Indian government is better prepared this time and has reached out to all contenders and not putting all eggs in one basket.'
Uttar Pradesh Chief Minister Yogi Adityanath highlighted the successful execution of the Maha Kumbh 2025, emphasizing effective crisis management, economic benefits, and the event's role in national unity and infrastructure development. He cited the swift response to a stampede on January 29 and the extensive preparations that ensured a smooth experience for millions of pilgrims.
In 2025 banks are in for challenges such as pressure on margins and slowing credit growth. With the likelihood of a repo rate cut in February or April, external benchmark-linked loans of banks will be repriced immediately. However, deposit rates are expected to adjust more gradually, which could impact the net interest margin (NIM) - a key measure of profitability for banks.
'This is the Bengal story, where businesses are nurtured, dreams are realised, and legacies are built.'
The combined net sales of 42 listed construction and capital goods companies that have declared their third-quarter results so far were down 2.3 per cent year-on-year in Q3FY21 while core operating profit was up just 4.9 per cent YoY during the quarter.
'Cancer incidence is projected to increase by 12.8 per cent by 2025 compared with 2020, necessitating more dedicated cancer treatment centres and specialised beds.'
Pranati Group of Industries is all set to enter infrastructure and housing projects in the country, backed by Rs 4000 crore (Rs 40 billion) funding from CRM International of the UK.
'With the deployment of a higher degree of mechanisation, awarding contractual mining to MDOs and operational efficiency, we feel confident of achieving the desired target.'
Reserve Bank allowed banks to invest in long-term infrastructure bonds.
After registering a net profit of Rs 25.1 crore in Q3FY25 and consolidated revenues growing by 7 per cent on a like-for-like basis, Siddharth Mittal, chief executive officer (CEO) and managing director, Biocon, told Sohini Das/Business Standard in a virtual interaction that local manufacturing in the US is a trade off between cost and qualifying to do business there.
Some of the world's biggest and most expensive infrastructure projects are in China.
The FMCG industry hopes for a revival in consumption growth in 2025 with some 'green shoots' already visible, after having a challenging year amid escalating input costs and a double-digit rise in food inflation, which ultimately slowed down the pace of the urban market growth in the second half of 2024. Soaring prices of commodities such as palm oil, coffee, cocoa and wheat forced FMCG players to go for a hike of 3 to 5 per cent or resort to shrinkflation by reducing pack sizes and grammage to retain attractive price points, fearing a volume loss.
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
Roads, railways, and coal together are likely to account for 70 per cent of the government's takings from the upcoming second edition of the National Monetisation Pipeline (NMP), set to run from FY26 to FY30. In comparison, these three sectors are estimated to have contributed 66 per cent in the first edition of the NMP - FY22 to FY25.
Finance ministers of states demanded an increase in allocation under 50-year interest-free loan scheme, while fiscally stressed states like Punjab and Kerala pitched for a special package and borrowing flexibility, sources said on Friday. In a pre-budget meeting with Union Finance Minister Nirmala Sitharaman, states have also urged for higher borrowing limits to support fiscal activities, besides additional funds for Jal Jeevan Mission.
The government on Monday cleared a Rs 1,718 crore (Rs 17.18 billion) project to set five centres for automotive testing and homologation throughout the country over the next six years.
Prime Minister Manmohan Singh on Wednesday directed fast-tracking of major infrastructure projects in Maharashtra, including building of two new airports and expansion of one.
"Repeating baseless arguments in this regard does not lend such claims any validity. Arunachal Pradesh was, is and will always be an integral and inalienable part of India. Its people will continue to benefit from our development programmes and infrastructure projects," he said.
