Marking its foray into north India, Karnataka Milk Federation–the country’s second-largest cooperative dairy–launched its milk brand Nandini in Delhi on Thursday. Speaking at the event, Karnataka chief minister Siddaramaiah said: “When you can’t beat Gujarat, be near to it”, in reference to Nandini’s competitor Amul, which is India’s largest milk brand. With its north India
After 20 smart industrial townships under construction, the government is now looking to facilitate setting up of more industrial parks in smaller towns and cities, a senior official said Thursday. “We are hopeful that the framework for them (industrial parks) will be ready within this fiscal year,” secretary in the Department for Promotion of Industry
An immediate fallout of the US’s bribery charges against Adani group would be a slowing of the pace of its massive renewable energy (RE) ventures, and a delay in start of cash flows from the power supply contracts that looked lucrative and but have now come under a cloud. The latest developments could also have
After a year of cost-cutting measures, online pharmacy startup Pharmeasy has reduced its losses by 51% to Rs 2,533.5 crore in FY24, primarily due to lower goodwill impairment charges and an overall decline in expenses. In FY23, the Mumbai-based company’s losses stood at Rs 5,211.7 crore. However, revenue from operations shrank 14.8% to Rs 5,664
Tata Power on Thursday said it has signed a memorandum of understanding (MoU) with Asian Development Bank (ADB), coinciding with the ongoing climate conference (COP29) at Baku, Azerbaijan, to evaluate financing for its several projects. The total estimated project cost is nearly $4.25 billion. Also ReadKenya cancels airport and energy deals with Adani group after
The fast tracking of visa restrictions for Chinese technicians for companies under the Production Linked Incentive (PLI) scheme has resulted in a reducing the backlog of applications, a senior official said. “Now that pendency has come down. Lot of improvement is there. There is a relief in this for those companies. The ministry of home
Unicommerce’s recent acquisition of Shipway could give it a big opportunity of over Rs 4,000 crore, according to MD and CEO Kapil Makhija. “We haven’t done a detailed external study, but our internal assessment suggests that the market is roughly Rs 3,800-4,300 crore annually, which is a large opportunity, he said. The acquisition aligns with
GQG Partners, one of the biggest backers of Adani Group post the US short-seller Hindenburg Research row, said it is reviewing the need to potentially act on its investments in the group companies after the US authorities indicted founder Gautam Adani in an over $250-million bribery case. GQG Partners’ shares tumbled over 19% in Australia
Central Goods and Services Tax (CGST) officials in the recent months have investigated over two dozen textile manufacturing companies across the country for mis-classifying textile processing activities and subsequently paying lesser tax. According to official sources, the CGST department has observed that several textile manufactures are recording activities which involve ‘changing the nature of cloth’
Artificial intelligence (AI) is being used for “collusion” by sections of Indian industry, Ravneet Kaur, chairperson of Competition Commission of India (CCI) said on Sunday, adding that the regulator would equip itself to deal with it. “Companies are using AI to coordinate prices without explicit agreements, and are engaging in algorithmic discrimination under the garb
Owning a home is one of the most significant steps toward financial security, both for individuals and families. While men have traditionally taken the lead in property purchases in India, the trend is gradually changing, with more women actively investing in real estate. Recognizing this shift, both state governments and financial institutions have introduced various
The National Capital Region Transport Corporation (NCRTC) is set to launch a co-working space, named MetroDesk, at the Ghaziabad Namo Bharat Station soon. This innovative initiative aims to turn urban transit areas into dynamic business hubs, introducing a pioneering coworking model within the Namo Bharat network. MetroDesk is tailored for professionals, entrepreneurs, and small businesses
8th Pay Commission News: The long-standing demand for the restoration of commuted pensions is again in discussion. Currently, this pension is restored after 15 years, but employee organisations want the government to cut this commutation period to 12 years. Now, after the announcement of the 8th Pay Commission, employees are hopeful that the government may
