RENAULT INDIA OPERATIONS COUNTRY
Kalyan Jewellers to enter US market, plans 70 new showrooms globally
In its quarterly update report released today, the company has said that it has reported overall revenue growth of approximately 27% YoY, whereas revenue growth for India operations stood at 29% during Q1 FY2025. Revenue growth from Middle East operations stood at 16% YoY
Airtel, Jio help telecom industry record 3.87% sequential growth in AGR in last quarter of FY24 to Rs 70,462 cr
The telecom industry saw a 3.87% sequential growth in adjusted gross revenue in the last quarter of FY24, driven by Airtel and Reliance Jio. Vodafone Idea and BSNL faced declines in mobile services AGR. Private telecom operators raised headline rates, leading to increased revenue. The Department of Telecommunications reported higher licence fee and spectrum usage charge collections. Broadband subscribers increased to 924.07 million, with wireless Arpu at Rs 153.54. Overall sectoral minutes of consumption and telephone subscribers also showed growth.
India's Rudram-1 Missile: How does it stack up against global competitors?
Rudram 1 Missile: India has successfully tested its first indigenous anti-radiation missile, the Rudram-1, developed by DRDO for the Indian Air Force. Integrated with Sukhoi-30MKI jets, it targets radiation sources with INS-GPS navigation and a Passive Homing Head, crucial for Suppression of Enemy Air Defence (SEAD). Compared globally, Rudram-1 enhances India's SEAD capabilities against adversaries like the US (AGM-88 HARM), Russia (Kh-58), UK (ALARM), China (FT-2000), Iran (Hormoz-2), and Brazil (MAR-1). This milestone strengthens India's defense against regional threats, showcasing its technological prowess and commitment to indigenous defense innovation.
Aerospike appoints Venkatesh Guntur as country manager for Southeast Asia
California-based Aerospike has appointed Venkatesh Guntur as its new country manager for Southeast Asia. Guntur, with over 25 years in enterprise IT sales, will lead the firm's growth and expansion in the ASEAN region, focusing on enhancing its presence in AI-centric business applications.
NHAI to do GIS-based land acquisition for upcoming national highway projects
The National Highways Authority of India (NHAI) on Tuesday entered into an MoU with the Survey of India for development and validation of GIS-based land acquisition plan for upcoming national highway projects in the country. As per the agreement, the Survey of India will help develop standard operating procedures and in preparation of terms of reference for consultants preparing a detailed project report for land acquisition.
India-Mongolia joint military exercise 'Nomadic Elephant' to begin in Meghalaya tomorrow
The 16th edition of Joint Military Exercise 'Nomadic Elephant' between India and Mongolia will be held in Umroi, Meghalaya from July 3-16. This annual exercise aims to enhance interoperability for semi-conventional operations in semi-urban and mountainous terrain. The previous edition was conducted in Mongolia in 2023. The recent 12th Joint Working Group meeting between the defense ministries of India and Mongolia reviewed bilateral defense cooperation and identified ways to enhance it, highlighting the potential for a fruitful partnership.
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Rafale’s India operations get a strategic push; Dassault establishes maintenance facility near Jewar Airport
Dassault Aviation is advancing plans to establish a Maintenance, Repair, and Overhaul (MRO) facility near Jewar International Airport for India’s Mirage 2000 and Rafale fighters. This move supports India's aspiration to locally manufacture the latest Rafale versions under the "Make in India" initiative. Engine maker Safran SA also intends to set up an MRO facility for Rafale engines in Hyderabad, aiming for operations by 2025 and potential local production of M-88 engines. These developments are crucial as India seeks to bolster its defense capabilities amidst regional security challenges, including from China's expanding military presence.
Eleven dead in New Delhi after heavy rain, flight operations stutter
The death toll from this week's heavy rain in New Delhi has risen to 11, with four fatalities reported due to drowning in submerged underpasses, according to the Times of India. The city experienced its heaviest rainfall in decades on June 28, exceeding the average monthly rainfall in just one day. The torrential downpour caused a fatal roof collapse at one of Delhi's airport terminals, leading to flight disruptions, flooded underpasses, and widespread traffic congestion. Approximately 60 flights were cancelled at the main airport, primarily affecting Terminal 1, used by carriers like IndiGo and SpiceJet.
Charting the global economy: Inflation ebbs in US, France, Spain
With inflation settling down in many European economies, there are signs that central banks in the areas could reduce interest rates.
Cooper Corp, Sinfonia Tech join hands to introduce LPG gensets in India, Japan, ASEAN countries
The company also informed that 'CPCB IV+' certified LPG gensets developed under the partnership will be unveiled at the Gas India Expo 2024 at Expo Centre Greater Noida next month.
India Accelerator adds 250,000 sq ft in Pune, Gurugram and Noida
India Accelerator has expanded with 250,000 sq ft across 7 centres in Pune, Gurugram, and Noida, adding 3200 seats in Noida, 900 in Gurugram, and 400 in Pune. With over 200 startups, they foster collaboration and innovation, investing USD 4 million to support entrepreneurs nationwide via infrastructure and early-stage investments.
Plan to double market share in country: Volvo CE India MD
Volvo CE India aims to double its market share in India's CE sector, currently at 6.5%. Managing Director Dimitrov Krishnan plans to achieve this growth by leveraging the fast-growing infrastructure development in the country.
Cambodia-India Tourism Year launched in New Delhi
The first Cambodia-India Tourism Year was inaugurated in New Delhi, marking the commencement of the inaugural direct flight service by Cambodia Angkor Air between Phnom Penh and New Delhi. The event, officiated by Manisha Saxena, emphasized the significance of the initiative for boosting tourism between the two countries.
Avalara's strategy to expand in India aligns well with the country's export ambitions: Anil Paranjape
By leveraging technology, Avalara says businesses can focus on their core operations without being bogged down by the complexities of cross-border tax compliance.
SLCM Group secures second Agri Reach application patent for real-time quality control monitoring in warehouses
SLCM acquires second Agri Reach patent for real-time quality control data monitoring in warehouses, bolstering agricultural ecosystem self-reliance.
Epicor webinar: Industry experts traverse Cloud ERP tailored for the automotive sector
Vishal Raj Saini, Country Head of Epicor Software India and Indian Subcontinent, discussed 'Implementing Cloud ERP' with industry experts at a panel by The Economic Times and Epicor.
IATA boss warns foreign airlines may quit India if taxation issues are not sorted
The chief of the International Air Transport Association (IATA), Wille Walsh, warned that airlines may withdraw from the Indian market if concerns over taxation are not addressed. Several global airline groups including Emirates, British Airways, Lufthansa, Singapore Airlines, and others have received tax evasion notices from the Directorate General of GST Intelligence (DGGI). The notices were related to non-payment of tax on services provided by the airlines to their Indian entities.
Organon appoints Vivek Soares as country lead for India, South Asia
US-based healthcare firm Organon announced Vivek Soares as the new country lead for India and South Asia, bringing over 20 years of biopharmaceutical experience. Soares, previously with Organon Thailand, will succeed Anjan Sen, pivotal in establishing Organon's India operations. Soares aims to drive growth in the region, working towards a healthier future for women.
India to increase road toll charges from Monday
India will hike road toll charges across the country by 3-5% from Monday, officials said, after putting the annual increase on hold in April due to the country's general elections. Toll charges in India are revised annually in line with inflation, and highway operators have announced hikes of 3% to 5% at nearly 1,100 toll plazas starting Monday.
Developed countries fulfilled USD 100 billion climate finance promise in 2022: OECD report
Developed countries met their long-standing promise of mobilizing USD 100 billion a year to help developing countries mitigate and adapt to climate change in 2022, according to the latest data published by the Organisation for Economic Co-operation and Development (OECD) on Wednesday.
ADB commits USD 2.6 billion in sovereign lending to India
Asian Development Bank (ADB) committed USD 2.6 billion (about Rs 21,500 crore) in sovereign lending to India in 2023 for various projects. The fund is aimed to strengthen urban development, support industrial corridor development, promote power sector reforms, build India's climate resilience, and enhance connectivity.
Commerce dept mulls trade pact talks SOP, chapter on critical minerals in Chintan Shivir
The government in New Delhi is focusing on critical minerals in FTAs, data adequacy issues, and challenges in e-commerce. SOP for trade pacts, real-time negotiation challenges, and data sovereignty issues were discussed by the commerce ministry.
EV ride-hailer BluSmart seeks $300 million to expand car fleet
BluSmart, India’s top electric cab operator, aims to raise $300 million to expand its fleet with cars from top manufacturers, targeting major cities for premium service. The company focuses on electrification and sustainability efforts in India, with plans to double revenue by 2025.
Telecom infrastructure sharing may spur gear sharing too, experts say
The current scenario could change with Telecom Regulatory Authority of India (Trai) recommending creating a separate category under the unified license for Digital Connectivity Infrastructure Provider (DCIP) authorisation. "...the proposed DCIP authorisation holder may create both active and passive digital connectivity infrastructure and share it with other TSPs and has to pay no license fee to the government," Trai said in its recommendations last month.
With the inauguration of a state-of-the-art kitchen facility in Hyderabad, we aim to be one of the biggest pure food services players in the country, shares Rohit Sawhney, CEO, Elior India
Elior Group, led by CEO Daniel Derichebourg and Elior India CEO Rohit Sawhney, inaugurates a new kitchen facility in Hyderabad, focusing on growth and innovation in the Indian market.
PSBs ask US to route advisories via finance ministry
Executives from some of the top lenders, including State Bank of India, Punjab National Bank and Canara Bank, met with a six-member US Treasury delegation last month. The discussions focused on Russian payments and a possible breach of the internationally imposed $60 a barrel purchase price on Russian crude.
India actively pursuing customs mutual recognition agreements with nations: CBIC chief
India has signed mutual recognition agreements (MRAs) with seven nations' customs authorities and is negotiating pacts with other countries. The Central Board of Indirect Taxes and Customs and the Federal Customs Service, Russia, signed the Authorized Economic Operator (AEO) MRA, providing reciprocal benefits to accredited exporters.
India's Russian oil imports rise to nine-month high in April
India's Russian oil imports surged to a nine-month peak in April as shipments resumed on non-sanctioned tankers, largely operated by Sovcomflot. Indian refiners imported nearly 1.8 million barrels per day of Russian oil, expanding Russia's share to 38%. The rise affected overall purchases from Iraq and Saudi Arabia, reducing Middle Eastern oil imports.
India calls for details on ambit of proposed EU deforestation norms
India has reached out to the European Union for details regarding its forthcoming regulation, which aims to evaluate exporting nations as either low or high risk based on deforestation levels. The EU's proposed deforestation-free product regulation carries significant implications for India's exports of coffee, cocoa, soybeans, wood products, rubber and derivatives, as well as leather goods.
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