With a sale of 14 Phantoms to a Hong Kong hotel, the fabled British carmaker is riding a wave, and Infiniti, Acura, and Lexus are in the wake.
In 2015, the auto major had announced that it would cease production at the plant, a move that affected around 1,100 employees.
The United States has so far allocated only 7.5 million doses of Covid vaccines to India, which is not enough, a top Indian-American Congressman said while urging the Biden Administration to do more.
What is foreign policy worth if it stands disconnected from domestic realities? Make no mistake, the horrifying visuals of the human suffering in metropolitan India is only the tip of the iceberg. The vast swathes of the hinterland are heaving with untold sorrows, notes Ambassador M K Bhadrakumar.
Serum Institute of India plans to make 300 million doses of AZD1222 by December, and will begin phase-2 trials soon. It has also tied up with Novavax for development and commercialisation of its candidate.
Expenditure on new projects slowed down for the second quarter in a row amid an uncertain global environment and higher borrowing costs. There were new projects worth a cumulative Rs 3.26 trillion in the July-September period, according to data provided by project tracker Centre for Monitoring Indian Economy (CMIE). This figure is much less than Rs 4.39 trillion in the June quarter (Q1FY23) and Rs 8.46 trillion in the March quarter (Q4FY22).
Billionaire Mukesh Ambani-led Reliance Industries Ltd's plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of $36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report. Reliance currently has three verticals -- oil-to-chemical (O2C) business that houses its oil refineries, petrochemical plants and fuel retailing business; digital services that comprises telecom arm Jio; and retail including e-commerce. New Energy will be the fourth vertical. At the company's annual general meeting of shareholders last month, Ambani announced a plan to invest Rs 75,000 crore in a new energy business over the next 3 years in the next stage in its transformation.
Raymond Ltd on Saturday said it would invest over Rs 425 crore (Rs 4.25 billion) in expanding its manufacturing capacity across the country, including Rs 100 crore (Rs 1 billion) for setting up three factories in Bangalore.
It is the first project of its kind in which a military aircraft will be manufactured in India by a private company.
India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter "V" in the V-shaped recovery stands for vaccine. The Indian government launched the world's biggest vaccination drive on January 16 to protect people from COVID-19. "What will 2021 look like? The shape of the recovery will be V-shaped after all and the 'V' stands for vaccine," said an article on the 'state of economy' in the RBI's January Bulletin. India has launched the biggest vaccination drive in the world, backed by its comparative advantage of having the largest vaccine manufacturing capacity in the world and a rich experience of mass inoculation drives against polio and measles.
A feature of 'Third World-ism' is lack of accountability. Whether and how the Modi government is held to account politically is a matter for the future, observes T N Ninan.
Tata Motors said on Thursday it will invest Rs 10,000 to Rs 12,000 crore (Rs 100 billion Rs 120 billion) in India over the next three to four years and was looking at Russia and China for vehicle sales and component sourcing.
After agonizing over this for weeks, he made a decision. When they met after work one evening, he startled her by blurting out, 'I think we should break up.' A moving excerpt from Chitra Banerjee Divakaruni's An Uncommon Love: The Early Life of Sudha and Narayana Murthy.
Billionaire Gautam Adani on Thursday said his logistics-to-energy conglomerate will invest $70 billion over the next decade to become the world's largest renewable energy company and produce world's cheapest hydrogen. Adani Green Energy Ltd (AGEL), the world's largest solar power developer, is targeting 45 gigawatts of renewable energy capacity by 2030 and will invest $20 billion to develop a 2 GW per year solar manufacturing capacity by 2022-23. Adani Transmission Ltd (ATL), India's largest private sector power transmission and retail distribution company, is looking to increase the share of renewable power procurement from the current 3 per cent to 30 per cent by FY 2023 and to 70 per cent by FY 2030.
Union Minister Jyotiraditya Scindia on Tuesday pitched for policy guidelines to utilise scrapped vehicles as raw material for steel production, saying there are close to about one crore such vehicles in the country. Scindia, who also holds steel portfolio, said the time is not far away when the country will have to move towards green steel, and therefore, the option of iron ore and coking coal will not be available. Green steel is manufactured without using fossil fuels.
The Serum Institute of India has informed the Centre that it will be able to supply around 22 crore doses of Covishield in October as the Union government has announced resuming export of surplus Covid vaccines in the coming fourth quarter under the 'Vaccine Maitri' programme, official sources said.
Finance Minister Nirmala Sitharaman on Tuesday sought to know from industry what is holding it back from investing in manufacturing, even though foreign investors show confidence in India. Drawing parallel between India Inc and mythological character 'Hanuman', Sitharaman said the government is willing to engage with the industry and take policy action. "This is the time for India... We cannot miss the bus," she added.
If things go according to plan, the vaccine would be available in the market by the end of this year.
Fuelled by rising passenger traffic and reviving local economies, the global airline industry is projected to record a net profit of $9.8 billion this year, IATA Director General Willie Walsh said on Monday and also made a strong pitch for having global standards for a Sustainable Aviation Fuel (SAF) book and claim system to help reduce carbon emissions. While addressing the Annual General Meeting of the International Air Transport Association (IATA) here, Walsh also flagged concerns about supply chain issues that are raising costs as well as limiting the ability of airlines to deploy aircraft. He also pointed out that decarbonising aviation is a serious issue and governments must not be allowed to use it to shore up exchequer finances.
Tamil Nadu secured investments worth Rs 1.44 trillion on Monday by signing of memoranda of understanding (MoU) with 60 companies, laying of foundation stones and inauguration of new projects.
Nearly 50 million doses of Bharat Biotech's COVID-19 vaccine, Covaxin lying with the firm are set to expire early next year as there are no takers owing to poor demand, company sources said.
Jaitley said it is no surprise that Dr Manmohan Singh is unhappy as 'maximum black money was generated' under his rule.
In a statement, the ministry also said several steps have been planned to support the cheetah project, including the establishment of a Cheetah Research Center with facilities for rescue, rehabilitation, capacity building, and interpretation.
'Building a whole product with the railways was challenging; we had to figure out how to load and unload a train when it stops for only about five minutes at a station.' 'We also helped them understand the revenues this would generate for them.'
The production of Covaxin will increase from the current 10 million doses per month to 60 million-70 million by July-August.
A report by parliamentary standing committee on commerce noted that Indian industry was getting decimated by China dumping its cheap products in India.
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The National Institute of Virology (NIV) in Pune under the ICMR has isolated the monkeypox virus from the clinical specimen of a patient, which can pave the way for development of diagnostic kits and vaccines against the disease, officials said on Wednesday.
'AI is not a new thing for us. We started our AI journey in 2015.'
The Indian services sector growth touched a six-month high in December, supported by a robust intake of new work and favourable market conditions, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 56.4 in November to 58.5 in December, highlighting the strongest rate of expansion since mid-2022. For the 17th straight month, the headline figure was above the neutral 50 threshold.
General Motors India is expanding its manufacturing capacity to produce 50,000 vehicles by 2005.
Tata Group is in discussions with some major international companies, including those from Taiwan, for its foray into the semiconductor chip business. The Union government had earlier tried to bring in Taiwanese manufacturers Taiwan Semiconductor Manufacturing Company (TSMC) and United Microelectronics Corporation (UMC) for chip manufacturing in India. A person close to the development said the Tatas have now opened a separate channel for a possible tie-up. Currently, India mostly imports chips, which are fabricated and assembled to put into various applications, including automobiles, renewable power, mobile phones, televisions, and other electronic items.
Consolidated earnings of Bharat Forge in Q3FY23 missed estimates, largely due to higher-than-expected interest burden, although operational numbers (including standalone numbers) were close to consensus. Still, the management guidance was positive and appeared to be based on logic.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
Fitch Solutions on Thursday said the new climate targets announced at the COP26 summit by Prime minister Narendra Modi pose an upside risk to its outlook for renewable growth in the country. With the new targets, it expected to see attempts to alleviate the issues regarding supply chains, manufacturing and project development that have long plagued renewable proliferation.
With its new premium Primus and Ampere NXG, it is targeting buyers seeking a faster and more stylish ride
Nitin Bhatnagar, a Maltese citizen and a former relationship manager of the Bank of Singapore, was taken into custody under the provisions of the Prevention of Money Laundering Act on Tuesday.
Today, Vachani's public-listed company, Dixon Technologies, has gone beyond manufacturing just television sets. Armed with private equity funding from Motilal Oswal eight years ago, it has transformed itself into a Rs 4,400 crore electronic manufacturing services major, which now straddles lighting products, home appliances, feature phones, LED bulbs, amongst others. A two-part series looks at how two home-grown manufacturers are leveraging the govt's production-linked incentive scheme.
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