Streamlining FDI, boosting R&D, manufacturing key to achieve USD 5 bn defence export: Study

Streamlining FDI, boosting R&D, manufacturing key to achieve USD 5 bn defence export: Study

Tuesday, 18 June 2024 | PTI | New Delhi

Factors like streamlining foreign direct investment (FDI) as well as augmenting Research & Development (R&D) and manufacturing capabilities can help the country realise its USD 5 billion defence export target by 2024-25, says a study. Nexgen Exhibitions, organisers of International Police Expo, one of Asia’s premier homeland security and defence expos,...

Essar to invest Rs 30,000 crore in green hydrogen plant in Gujarat

Essar to invest Rs 30,000 crore in green hydrogen plant in Gujarat

Monday, 17 June 2024 | PTI | New Delhi

Essar Group plans to invest Rs 30,000 crore over the next four years in setting up a green hydrogen plant at Jamnagar in Gujarat as the metals-to-infrastructure conglomerate eyes clean energy as a key pillar for its new phase of growth. The conglomerate is looking to decarbonise its oil refinery in...

PwC India expects upswing in small, mid-size M&A transactions

Monday, 17 June 2024 | PTI | New Delhi

PwC India anticipates an upswing in the India markets, especially in small to mid-size M&A (merger and acquisition) transactions and growth fundings driven by increasing investors’ confidence. The year 2023 witnessed the emergence of a nuanced M&A landscape, with investors showing interests in diverse strategies and larger-scale ventures, even amid an...

CBIC cautions public against frauds in name of Indian Customs

Monday, 17 June 2024 | PTI | New Delhi

The Central Board of Indirect Taxes and Customs (CBIC) on Sunday asked public to stay alert and discern the modus operandi of fraudsters committing fraud in the name of Indian customs. In a statement, the CBIC said various incidents have come to light through news portals/social media platforms of fraudulent persons...

Indian room air-conditioner market to reach Rs 50,000 crore by FY29: Voltas

Monday, 17 June 2024 | PTI | New Delhi

The India room air-conditioners (RAC) market is likely to grow at a healthy CAGR of 12 per cent to reach Rs 50,000 crore by FY 2028-29, Tata group firm Voltas said in its latest annual report. The competition in the Indian RAC market has “intensified” with the presence of homegrown and...

With 30 per cent topline growth, Godrej Appliances expects to join billion-dollar club in FY25

Monday, 17 June 2024 | PTI | New Delhi

Home-grown firm Godrej Appliances expects to become a billion-dollar company by the end of this fiscal, led by a 30 per cent growth in topline, a senior company executive said. The company is “very optimistic” about the short-term and mid-term outlook of the domestic market, during which it will launch new...

SOP in final stages to facilitate visa for Chinese technicians needed in manufacturing units: Official

Monday, 17 June 2024 | PTI | New Delhi

After formulating a standard operating procedure (SOP) for streamlining visa approvals for Chinese professionals whose expertise is required by vendors under the PLI scheme, the government is in the final stages to put in place similar processes for other manufacturing units, an official said. The move assumes significance as some domestic...

Income tax relief for those in lowest slab may need to be considered in Budget: CII

Monday, 17 June 2024 | PTI | New Delhi

Income tax relief for the people in the lowest slab may need to be considered in the upcoming full Budget for 2024-25 considering the high levels of inflation, according to newly-elected CII President Sanjiv Puri. In an interview with PTI, he also suggested creation of an institutional platform for consensus building...

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