India and the US on Friday expressed concern over high inflation which is being driven by external factors and has become a challenge for both the nations. Speaking at the US-India Businesses and Investment Opportunities, Finance Minister Nirmala Sitharaman said in India the inflation challenges are prompted more by external factors. "So while the number today is in a manageable range, the challenges are largely due to the import of crude.
Speaking at the forum, Suzuki Motor Corporation (SMC) representative director and president Toshihiro Suzuki said, "Suzuki's future mission is to achieve carbon neutrality with small cars. "We will continue active investment in India to realise Self-reliant India (Atma-nirbhar Bharat)." Under the MoU, the company's wholly-owned arm Suzuki Motor Gujarat Pvt Ltd (SMG) will invest Rs 7,300 crore for the construction of a plant for BEV batteries at a land neighboring to SMG's existing plant by 2026.
The statement of the Minister of State in the Prime Minister's office comes on the heels of India issuing a notice to Pakistan seeking a review and modification of the IWT in view of Islamabad's "intransigence" in complying with the dispute redressal mechanism of the pact that was inked over six decades ago for sharing of waters of cross-border rivers.
Reliance Industries Limited on Wednesday became the first Indian company to hit the Rs 19 lakh crore market valuation mark following a rally in its share price. The market heavyweight stock jumped 1.85 per cent to its record high of Rs 2,827.10 on the BSE. Following the gain in the share price, the company's market valuation jumped to Rs 19,12,814 crore in morning trade on the BSE.
The "live firing" of the missile was carried out in close coordination with the Indian Navy, the IAF said.
The new BrahMos missiles will be 'dual-role capable', which means warships can fire them at targets on land as well as at enemy warships.
Micron plans an assembly testing, marking and packaging project of $1 billion, and talks are on to set up a memory chip plant for captive requirements.
India will not allow Chinese companies to participate in highway projects, including those through joint ventures, Union Minister Nitin Gadkari said on Wednesday amid the border standoff with China. Gadakri also said the government will ensure that Chinese investors are not entertained in various sectors like the micro, small and medium enterprises (MSMEs).
Indian Sellers Collective (ISC), a trade association of micro and small enterprises and family businesses, on Wednesday urged IT veteran NR Narayana Murthy to cooperate in the Competition Commission of India's antitrust probe against Amazon for alleged anti-competitive practices. In 2014, Murthy's Catamaran and Amazon had formed a joint venture, Prione Business Services. On Monday, the partners announced that they have mutually decided not to continue the JV beyond May 2022. ISC thanked Murthy for deciding to end the joint venture with Amazon.
Air India will require more than 6,500 pilots to operate 470 aircraft that are to be supplied by Airbus and Boeing in the coming years, according to industry sources. Seeking to expand fleet as well as operations, the airline has placed orders for acquiring a total of 840 aircraft that includes an option to buy 370 planes. This is one of the largest aircraft order by any airline. Currently, Air India has around 1,600 pilots to operate its 113 aircraft fleet and in recent times, there have been instances of ultra-long haul flights getting cancelled or delayed due to shortage of crew.
India can become the number one automotive manufacturing hub in the world within five years, but auto companies need to enhance safety features to reduce deaths due to road accidents, Union Minister Nitin Gadkari said on Thursday. In his inaugural address at the Auto Expo 2023 here, the minister for road transport and highways asserted that the government's target is to reduce these accidents by 50 per cent before the end of 2024 while asking the auto industry to take suo moto action for road safety as the government doesn't want to make anything mandatory. Gadkari's sentiments were also echoed by Minister of Heavy Industries Mahendra Nath Pandey, who lamented that while India has only 1 per cent of the total overall vehicles, the country accounts for 11 per cent of the total global deaths due to road accidents.
With a million-odd electric vehicles (EVs) - two-wheelers, e-rickshaws, buses and passenger cars - expected to hit the road this calendar year, the shift from gasoline-powered vehicles has become irreversible. Now the question is whether the supply chain is ready for this shift. Key components - the high-powered lithium-ion battery and the cells which go with it, the electric motor, and the electronics powered by chips - account for nearly 60 per cent of the cost of an EV.
The Cabinet on Wednesday empowered boards of state-owned companies to decide on the closure and divestment of units/subsidiaries. Presently, the Board of Directors of holding or parent public sector enterprises have been delegated certain powers to make equity investments to establish financial joint ventures and wholly-owned subsidiaries and undertake mergers/acquisitions, subject to certain ceilings of net worth. However, the Boards do not have powers for disinvestment or closure of their subsidiaries or units or stake in JVs, except for some limited powers given to Maharatna PSEs for minority stake disinvestment in their subsidiaries.
At a time when the overall narrative is around India being an attractive investment destination, the two American multinationals are more specific in projecting India as their centrepiece.
You increase the production, only then it is possible to reduce cost, Gadkari 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.
Local residents say until about two months ago, this board carried the name of Motorola, which once had a manufacturing unit in Sriperumbudur, 40-odd km from Chennai in Tamil Nadu. In May 2020, Luxshare Precision Industry Co, a China-headquartered AirPods and iPhone assembler, had entered into a deal with the Tamil Nadu government to take over the defunct Motorola unit.
"The strategic divestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s Talace Pvt Ltd along with management control," DIPAM secretary Tuhin Kanta Pandey said in a tweet. A new board, led by the strategic partner, takes charge of Air India, he added.
One of the challenges for those car graves is that Indian owners often find markets for their old cars rather than send them to scrapyards.
"They (BJP) are in power at the Centre, state and have other agencies with them. Let them probe, then things will be clear," Pawar said.
The government is targeting 1,200 technical collaborations between Japanese companies and Indian investors for over Rs 42,000 crore, 200 joint ventures with overseas investors for Rs 14,000 crore, and another Rs 14,000-crore investment from about 50 multinational companies.
What is noticeable in both movies is the willingness with which both the ageing stars -- Kamal is 68 and Rajini, four years older at 72 with a kidney transplant that he has not shied away from acknowledging -- have learnt to respect their age and bodies, notes N Sathiya Moorthy.
The Vedanta team held a meeting with Shinde, Fadnavis and top officials on July 26, he said.
Adani Enterprises, which is launching India Inc's second-largest follow-on public offer worth Rs 20,000 crore next week, on Thursday said it is planning to enter the water segment as this is a key element of its core business of infrastructure. The group is into the entire gamut of infrastructure -- being its ports, airports, roads, expressways power generation & distribution, among others. In ports and airports, the group is the largest player in the private sector. Addressing media from Milan, group chief financial officer Jugeshinder Singh said the company has fixed the price band for the Rs 20,000-crore issue in the range of Rs 3,112-3,276 per share.
Vodafone Idea (Vi) is in continuous talks with network vendors to finalise its 5G rollout plans, Vodafone Idea CEO Akshaya Moondra said. "We are in early stages of 5G deployment. "5G is an important development and we are keeping our eyes on it," Moondra said on Wednesday in a post-result analyst call. Already five months behind rivals Jio and Airtel in the 5G race, Vi's efforts will be on the deployment of 5G in target geographies.
The Maharashtra government will issue a white paper in the next 30 days on some mega projects going out of the state and if any steps were taken by the previous MVA government to retain them, Industries Minister Uday Samant said in Mumbai on Tuesday. The Eknath Shinde-Devendra Fadnavis government is under fire from the Opposition which has accused the ruling dispensation of failing to retain big-ticket Vedanta-Foxconn and Tata-Airbus projects in the state. Both projects chose Gujarat over Maharashtra to set up their units.
The Air India Group has started vacating its offices, which are currently being operated from government-owned properties, from this month, as part of its strategy to consolidate workspaces across the country. The loss-making Air India and its international budget arm Air India Express were taken over by the Tata Group on January 27 this year, after successfully winning the bid for the airline on October 8, last year. Besides these two airlines, Tata Group also holds a majority 51 per cent stake in Vistara, its joint venture airline with Singapore Airlines (SIA), and a 83.67 per cent stake in budget carrier, AirAsia India.
Tata Group-owned AirAsia India, which is in the process of being merged with Air India Express, has taken short-term loans worth Rs 630 crore during the last six months to deal with cash crunch. AirAsia India has been making losses since its first commercial flight on June 12, 2014. Its net loss increased by 42 per cent to Rs 2,178 crore in FY22.
"Reaching an international agreement on how large digital companies are taxed has been a priority for the chancellor since he took office," said a spokesperson for his UK treasury office. "The chancellor's consistent position has been that it matters where tax is paid, and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities. That is what our taxpayers would expect and is the right thing," the spokesperson said.
State-owned Indian Oil Corporation (IOC) and a joint venture of billionaire Gautam Adani's gas arm and Total of France -- Adani Total Gas Ltd -- have bid for maximum number of licenses to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round.
Germany-based Mutares SE & Co will acquire 80 per cent controlling stake in Mahindra & Mahindra's French unit Peugeot Motocycles. In a statement, the Mumbai-based auto major on Thursday said Mutares has submitted an irrevocable binding offer to acquire 50 per cent of equity and a controlling stake of 80 per cent in France-based Peugeot Motocycles (PMTC). As part of the deal, Purple, a fully-owned entity of Mutares Holding, would invest 7 million euros in PMTC, which would entitle it to a 50 per cent shareholding and 80.01 per cent voting rights in the French firm.
The home ministry has given security clearance to Air India CEO-designate Campbell Wilson, paving the way for him to take charge of the airline, according to a senior official. The appointment of Wilson as the chief executive officer and managing director of Air India was announced by Tata Sons on May 12. Tata Sons took over the loss-making carrier on January 27.
Shedding its opposition, the Bar Council of India (BCI) on Wednesday took a significant decision to permit foreign lawyers and law firms to practise in areas such as foreign law, international legal issues and arbitration matters, saying that the legal fraternity here may be left behind if it sleeps over the matter.
With new added technologies, including the control system, the missile was test-fired from the Integrated Test Range (ITR) launch pad-III at Chandipur around 10.45 am, said a source at the Defence Research and Development Organisation.
The Reserve Bank on Friday extended the regulatory restrictions on Punjab and Maharashtra Cooperative (PMC) Bank by another six months till December 2021 to enable the completion of its takeover by Centrum Financial Services. Paving the way for takeover of the crisis-ridden bank, the RBI had earlier in the month granted in-principle approval to Centrum Financial Services to set up a small finance bank (SFB). "Taking into account the time required for completion of various activities involved in the process...the validity of the ...Directive dated September 23, 2019, as modified from time to time, has been extended for a further period from July 1, 2021 to December 31, 2021, subject to review," the RBI said in a notification.
Tatas-owned Air India plans to acquire no-frills carrier AirAsia India and has sought approval from the Competition Commission for the proposed deal. AirAsia India is majority-owned by Tata Sons Private Ltd with a shareholding of 83.67 per cent and the remaining stake is with AirAsia Investment Ltd (AAIL), which is part of Malaysia's AirAsia Group. Full service carrier Air India and its low-cost subsidiary Air India Express were acquired by Talace Private Limited, a wholly-owned subsidiary of Tata Sons Private Ltd, last year. Besides, Tatas operate full service airline Vistara in a joint venture with Singapore Airlines.
Billionaire Mukesh Ambani's Reliance Industries Ltd has sold its stake in the shale gas asset in the US to Northern Oil and Gas Inc for USD 250 million, the firm said on Thursday.
Two firms belonging to the Adani group - India's most valued conglomerate - are part of the Nifty 50 index. The group, however, has no representation in the Sensex. And it could stay this way if a proposed index qualification rule change gets approved. Recently, Asia Index, a joint venture between S&P Dow Jones Indices and BSE responsible for index composition, floated a consultation paper where it proposed that a stock must have a derivative contract to be eligible for inclusion in the flagship 30-share Sensex index.
'The Indian govt's initiatives on EVs are very strong and customers want to buy EVs. This will make the country's conversion to EVs faster than other markets, and I hope even faster than the US'
As a part of the 235 km Dallirajhara-Rowghat-Jagdalpur railway project, Antagarh, which has a Nagar Panchayat, is now connected to state capital Raipur by a train service.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances