THE INDIA VISION
SoftBank's Sumer Juneja to join Oyo board
Sumer Juneja will join Oravel Stays Ltd as non-executive director, pending EGM approval, representing SoftBank Vision Fund. OYO, backed by SoftBank, reported Rs 100 crore profit in FY 2023-24, per founder Ritesh Agarwal. The board includes Aditya Ghosh, Dr. Deepa Malik, Troy Alstead (ex-COO of Starbucks), and W Steve Albrecht. SoftBank aims to boost OYO globally.
PM Modi’s vision of ‘Purvodaya’ for North East would be the gateway of India’s progress: Jyotiraditya Scindia
Jyotiraditya Scindia, Minister of Development of North Eastern Region (DoNER) and Communications, highlighted Prime Minister Narendra Modi’s ‘Purvodaya’ vision during his visit to Assam and Meghalaya. He emphasized the region's progress in social development, health, education, sports, tourism, and industry under the NDA government in the last decade. Scindia noted the region's rich resources like bamboo and agarwood, highlighting their potential for development.
Budget 2024: Economic vision of new govt, political theme key aspects to watch in budget, says Nomura
Nomura, a Japanese brokerage, highlighted key aspects to watch in India's upcoming Union budget, emphasizing the new government's economic vision and its management of political dynamics. The brokerage anticipates "muted returns" in the second half of the year for equities, maintaining a year-end Nifty target of 24,860 points, slightly above current levels. They underscored the importance of fiscal discipline beyond FY26, when the government aims to reduce the fiscal deficit to 4.6%.
NITI Aayog to hold next governing council meeting on July 27; Viksit Bharat to be discussed
The meeting, to be chaired by Prime Minister Narendra Modi, is expected to be attended by chief ministers of all states and lieutenant governors of union territories besides the top minister of the Modi cabinet and will deliberate on the government’s Vision 2047 for a Viksit Bharat.
South Korean firm HyVision System inks deal with Karnataka to build plant near Foxconn facility in Bengaluru
South Korean HyVision System signed an agreement with Karnataka on Friday to allow the company to build a factory for camera inspection machines. This unit will be near the Foxconn facility, which is close to Bengaluru's Kempegowda International Airport in Devanahalli.
Inclusive healthcare: H.E. Dr. Noura Khamis Al Ghaithi on Abu Dhabi’s vision beyond borders
In conversation with H.E. Dr. Noura Khamis Al Ghaithi, Undersecretary of the Department of Health – Abu Dhabi, who outlines the vision of the Abu Dhabi Global Healthcare Week (ADGHW) positioned to serve as an annual platform for inclusive knowledge-sharing and crafting collaborative strategies aimed at delivering positive patient outcomes.
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Government to soon come out with a new shipbuilding, repair policy
The Ministry of Ports, Shipping, and Waterways is set to introduce a new Shipbuilding and Repair Policy under the 100-day action plan. Ambitious goals have outlined in Maritime India Vision 2030 and Amrit Kaal Vision 2047 to elevate India's shipbuilding industry globally. The initiative aims to revitalise the industry, increase the share of Indian-owned vessels in cargo transport, and seize a significant market opportunity by 2047.
Budget will announce historic steps, present a ‘futuristic vision,’ says President Murmu
President Murmu said that today India alone contributes to 15% of the global growth and reiterated her government’s commitment to make India the third largest economy in the world. She sought the support of the Opposition to meet this goal, invoking the Vedas and said all sides should work together “with a common idea and goal”.
Bangladesh key part of India's SAGAR doctrine, Indo-Pacific vision: Foreign Secretary Vinay Kwatra
Foreign Secretary Vinay Kwatra has emphasized the significance of Bangladesh in India's strategic plans for regional cooperation and security. He stated that Bangladesh is crucial for India's SAGAR (Security and Growth for All in the Region) doctrine and its vision for the Indo-Pacific region. The renewal of the MoU on maritime cooperation and blue economy aims to develop India's ocean-based blue economy and maritime cooperation.
India, Bangladesh agree to start talks on comprehensive trade pact
India and Bangladesh have agreed to begin negotiations on a comprehensive economic partnership agreement, as Prime Minister Narendra Modi announced after talks with Bangladeshi PM Sheikh Hasina. Modi emphasized that Bangladesh is India's largest development partner and that New Delhi gives top priority to their relationship. The leaders also discussed enhancing defense cooperation, including defense production and modernization, and signed agreements in areas such as the digital domain, maritime sphere, and railway connectivity.
Quidich Innovation Labs secures funding from Centre Court Capital
Quidich will use newly raised funds to expand its reach across new sports and geographies, as well as furthur developing its technology stack. Founded in 2013, the company has collaborated with Board of Control for Cricket in India (BCCI), International Cricket Council (ICC), Channel 7 in Australia among others.
Suspected PFI members conspired to transform India into Islamic country: HC while denying bail
The bench said the accused persons participated in spreading hatred against the state and pushing anti-national agenda through various means of propaganda. The accused persons shared a document on social media groups titled 'Vision - 2047', it noted.
Leaders from Maldives, Mauritius, Sri Lanka and more arrive in Delhi for Modi's oath ceremony; Check full list
Dignitaries from various neighbouring nations have converged in Delhi to witness the swearing-in ceremony of Prime Minister-designate Narendra Modi. Among them are prominent figures like Maldives President Mohamed Muizzu, Mauritius Prime Minister Pravind Kumar Jugnauth, and Sri Lankan President Ranil Wickremesinghe, signalling the regional significance of the event.
Bangladesh PM Sheikh Hasina arrives to attend PM Modi's swearing-in ceremony
PM Modi is set to be sworn in as Prime Minister for the third consecutive term on June 9, the Rashtrapati Bhavan said on Friday. Alongside him, members of his council of ministers will also take their oath on the same day. "First distinguished guest sets foot in New Delhi for the swearing-in ceremony of Prime Minister and Council of Ministers. PM Sheikh Hasina of Bangladesh warmly received by Secy (CPV & OIA) @mukteshpardeshi as she arrived in New Delhi. This visit of one of our most valued partners will further strengthen - close and deep-rooted bonds of friendship," said the Official spokesperson, Ministry of External Affairs, Randhir Jaiswal in a post on X.
NDA's return to power for third term shows people's faith in Modi's vision: BJP
BJP and its allies win Lok Sabha polls, affirming people's trust in PM Modi's 'Viksit Bharat' vision. Amit Shah highlights voters' support for Modi's work in the last 10 years.
Google invests $350 million in Flipkart as part of nearly $1 billion funding round
Flipkart secures $1 billion funding with investments from Google and Walmart. Walmart, which holds an 85% stake, invested $600 million in the round. Valued at $35-36 billion, Flipkart plans to expand with Google's cloud collaboration.
IAF successfully conducts night vision goggles-aided landing in Eastern sector
The Indian Air Force (IAF) achieved a significant milestone by successfully landing an aircraft using night vision goggles (NVG) for the first time on an advanced landing ground in the Eastern sector. This advancement enhances the IAF's operational capabilities, allowing for safer and more effective operations in low-light conditions.
UAPA case: SC sets aside HC verdict granting bail to eight alleged PFI members
The Supreme Court overturned a Madras High Court verdict granting bail to eight accused under the Unlawful Activities (Prevention) Act, stressing national security's importance. Justices Bela M Trivedi and Pankaj Mithal directed the accused to surrender immediately. The ruling followed a plea by the National Investigation Agency challenging the bail order.
The tech mahadasha: Stars align for India's online astrology market
Astrology, once a traditional practice, has transformed into a booming online business. With astrologers now accessible online, the industry is experiencing rapid growth. The pandemic further accelerated this trend, leading to a surge in consultations and subscriptions. The online astrology market in India is projected to grow significantly, driven by tech advancements and changing consumer behavior.
PM's active role, personal monitoring responsible for infrastructure sector turnaround, says FM
Nirmala Sitharaman praises PM Narendra Modi for reviving the infrastructure sector, highlighting the neglect during the UPA regime and the significant advancements made under the Modi government, including the expansion of the Metro network, growth in the aviation sector, and initiatives to boost the maritime ecosystem.
Digit cuts valuation for IPO; Internet firms vs Google in NCLAT
Insurtech startup Digit is eyeing a discounted $3 billion valuation through its proposed public offering. Details on this and more in today’s ETtech Top 5.
Development of India-Maldives ties based on mutual interests, reciprocal sensitivity: Jaishankar
India-Maldives ties based on mutual interests, sensitivity. Jaishankar emphasized Neighbourhood First policy and SAGAR vision. Cooperation includes infrastructure projects, financial aid, and security enhancements for Maldives.
SoftBank sells off Vision Fund assets as Son pivots to AI, chips
SoftBank is shifting focus to AI and semiconductors, while its Vision Fund is selling stakes or writing down billions of dollars worth of its publicly-listed companies. SoftBank founder Masayoshi Son is looking to bankroll a $100-billion chip venture to compete with Nvidia for providing semiconductors to power the development of AI services.
Maldives and India look to move forward, give direction to ties
Maldives foreign minister Moosa Zameer has expressed the Muizzu government's willingness to work with India, despite external affairs minister S Jaishankar's emphasis on mutual interests and reciprocal sensitivity. The two sides discussed India-funded projects in the Maldives during a meeting. Zameer's visit amid anti-India rhetoric in the Maldives is a signal that the Muizzu administration is trying to establish a working relationship.
A year on, Apple’s India stores emerge among its best globally
Apple's two company-owned stores in India have achieved significant revenue, each generating between Rs 190-210 crore last fiscal year. The stores, located in Mumbai and New Delhi, have consistently achieved monthly sales of Rs 16-17 crore each since their launch. Apple is now aggressively looking for space to open three more company-owned stores in Pune, Bengaluru, and Noida. The stores have become popular destinations for customers to experience Apple products and receive expert advice, contributing to the company's growth in India's smartphone market.
'Apple may employ 5 lakh people in India in 3 years': Govt sources
Apple is expected to employ over 5 lakh people in India over the next three years through its vendors and suppliers, according to government sources. This is a significant increase from the current employment figure of 1.5 lakh people. Tata Electronics, which operates two plants for Apple, is the largest job creator among Apple's vendors in India.
Developing an 'Indian Way' for vision of developed India
India's vision for Viksit Bharat could reshape the international order, fostering closer ties between India and the world. With a growing population and a productive workforce, India is already the world's fifth-largest economy and the fastest-growing in its bracket. Prime Minister Narendra Modi's vision of human-centric globalization emphasizes individual and societal well-being. India's green growth strategy aims for inclusive development, leveraging technology for public welfare. Initiatives like Make in India and digital infrastructure advancements are transforming India's economic landscape, with global implications.
BJP's 'Sankalp Patra' more than just a manifesto: Hardeep Singh Puri
BJP has presented a calibrated and comprehensive blueprint for development. Its manifesto envisages the next five years as the third phase of an ongoing journey of high-trajectory development that began in 2014. Citizens want to see boots on the ground, infrastructure and services being provided.
Ashish Kacholia trims stake in multibagger Aditya Vision, 2 more smallcaps in March quarter
Kacholia trimmed his stake in Aditya Vision by 12 bps to 1.87 at the end of the January-March quarter versus 1.99% at the close of the December quarter.
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