The Federation of Indian Export Organisations (FIEO) on Friday requested Union Finance Minister Nirmala Sitharaman to extend benefits till March 2024 that were provided under the Emergency Credit Line Guarantee Scheme (ECLGS). According to reports, the scheme ended in March 2023. The Emergency Credit Line Guarantee Scheme (ECLGS) was launched in May 2020 as part […]
The textile industry of Haryana is planning to shift its units to Uttar Pradesh and a delegation of the Haryana Textiles Association met the Uttar Pradesh Chief Minister Yogi Adityanath recently. According to an official statement released by the association, the textile industry is taking this step after being impressed with the improved law and […]
The personal care and healthcare major, Emami has acquired a 26 per cent equity stake in Axiom Ayurveda. Emami dives into the juice segment under Axiom Ayurveda’s brand AloFruit, according to the media release. However, the company didn’t reveal the amount of the investment. Harsha V Agarwal, Vice Chairman & MD, Emami said, “We are […]
In a major achievement for Chief Minister Yogi Adityanath-led Uttar Pradesh government, over 500 foreign buyers registered on the third day of the five-day UP International Trade Show being held at India Expo Center in Greater Noida on Sunday. The trade show, which aims at showcasing UP’s products to the global audience and also attracts […]
Reliance Retail (RRVL), the retail arm of Reliance Industries, has successfully received the full subscription amount of Rs 2,069.50 crore from the global investment firm KKR and has allotted 1.71 crore equity shares. Following this share allotment, KKR’s shareholding in RRVL has increased to 1.42 per cent, up from the previous 1.17 per cent. In […]
Taiwanese electronics major Foxconn aims to double its workforce and investment in India by next year, a company representative based in India said on Sunday. “Under your leadership, Foxconn has grown smoothly and rapidly in India. We will work even harder to present you with a greater birthday gift next year, aiming for another doubling […]
Alibaba Group Holding, the Chinese ecommerce company has informed Turkish President Tayyip Erdogan of its intentions to invest USD 2 billion in Turkey. This announcement was made during a meeting between Erdogan and Michael Evans, President of Alibaba, according to the company’s Turkey Unit’s statement, however, the statement did not specify a timeline for the […]
Leading commercial vehicle manufacturer Ashok Leyland will set up an electric bus manufacturing unit in Uttar Pradesh. A memorandum of understanding (MoU) was signed in this regard between Ashok Leyland and the Uttar Pradesh government at a programme organised in the presence of Chief Minister Yogi Adityanath on Friday. Under the MoU, Ashok Leyland will […]
Reliance Retail, under the control of Mukesh Ambani, is reportedly engaged in discussions with existing investors, including sovereign wealth funds from Singapore, Abu Dhabi, and Saudi Arabia, regarding a potential additional round of investments totaling around USD 1.5 billion. These talks are part of an internal objective to secure USD 3.5 billion in investments by […]
US-based electric vehicle maker Tesla is targeting to buy components worth USD 1.9 billion from India this year. Last year, the company bought components worth USD 1 billion from India, said Commerce and Industry Minister Piyush Goyal on Wednesday. Goyal was speaking at the 63rd Annual Session of the Automobile Component Manufacturers Association of India […]
