Indian Economy-News & Updates

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Good Capital launches $50 million fund to back startups leveraging AI​

Good Capital launches $50 million fund to back startups leveraging AI

Seed-stage, India-focused VC firm Good Capital on Friday announced a new $50 million fund to back founders who are leveraging AI for distribution, personalisation or business operations.

economictimes.indiatimes.com

Karnataka: Mobile components manufacturer to set up Rs 250 crore unit in Belagavi​

Karnataka: Mobile components manufacturer to set up Rs 250 crore unit in Belagavi

The company has asked the government to provide 30 acres of land for this purpose.

www.moneycontrol.com

DealShare to invest Rs 1,000 cr in private labels, small brands

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DealShare to invest Rs 1,000 cr in private labels, small brands - ET Retail

Currently, private labels contribute about 10 per cent to the company’s business. Medda expects private brands to drive 30 per cent of DealShare’s business in the next 2-3 years.

retail.economictimes.indiatimes.com

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[CallSignMaverick]

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Bengaluru tunnel road to cost Rs 50,000 crore ($6.25 Billion)

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Bengaluru tunnel road to cost Rs 50,000 crore

Bengaluru’s proposed tunnel road will cost a staggering Rs 50,000 crore to build and reduce travel time between the city’s five major arterial roads to just 20 minutes.

www.deccanherald.com

Services trade surplus to cover nearly two-thirds of merchandise trade deficit in FY24

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Services trade surplus to cover nearly two-thirds of merchandise trade deficit in FY24

Business services is the second-largest category accounting for 23.2% of Indias services exports in FY23 after software exports (45.1%).

economictimes.indiatimes.com

Radisson Hotel Group advances on its 2023 expansion plans with 11 new hotel signings in India

Radisson Hotel Group advances on its 2023 expansion plans with 11 new hotel signings in India - ET HospitalityWorld

The group also announced the debut of its luxury lifestyle brand, Radisson Collection in India with the signing of the first hotel in Hyderabad while expanding its portfolio across other brands, including Radisson Blu, Radisson, Park Inn & Suites by Radisson, and Radisson Individuals Retreats, a...

hospitality.economictimes.indiatimes.com

Aiming high. Chinese electronics component makers look to form Joint Ventures with Indian players​

Chinese electronics component makers look to form JVs with Indian players

Chinese electronics component makers are looking to partner with Indian companies, seeking to get a share of the burgeoning local manufacturing opportunities. According to sources, some Chinese players are willing to set up joint ventures and give controlling stake to Indian firms as a...

www.thehindubusinessline.com

Google, Bain & Temasek say India will become a $1 trillion internet economy by 2030​

Google, Bain & Temasek say India will become a $1 trillion internet economy by 2030

According to a joint research report, India's internet economy is poised for significant growth, with a projected value of $1 trillion by 2030. The report adds that adoption of digital tools and services, driven by evolving consumer needs, presents immense opportunities across sectors such as...

www.cnbctv18.com

 

[CallSignMaverick]

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Metal giant JTL Industries mulls bonus after announcing Rs 330 crore capex​

Metal giant JTL Industries mulls bonus after announcing Rs 330 crore capex

The immediate enhancement of 1 lakh tonne each will come up at the Malegaon plant in Maharashtra and the Raipur mill in Chhattisgarh, which will take their overall output to 3 lakh tonne each, the PTI report said.

www.indiatvnews.com

Petronas to invest US$4.1billion in Tamil Nadu, India​

https://www.nst.com.my/business/2023/05/905934/petronas-invest-us41bil-tamil-nadu-india

India's hydrogen market to surge: Morgan Stanley projects $19 billion opportunity by 2030​

India's hydrogen market to surge: Morgan Stanley projects $19 billion opportunity by 2030 - CNBC TV18

Green hydrogen is considered cleaner as it is produced by splitting water using renewable sources such as solar and wind energy. This process involves the use of an electrolyser, and numerous Indian companies are investing in this technology.

www.cnbctv18.com

Indian govt proposes billion-dollar subsidy for grid battery makers: Report​

Indian govt proposes billion-dollar subsidy for grid battery makers: Report

The Indian government is developing a subsidy program worth $2.63 billion to support domestic production of electricity grid batteries, aiming to decrease reliance on China for imports. The initiative is part of India's shift towards clean energy.

www.livemint.com

 

[CallSignMaverick]

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Japan's NTT launches a $300 million hyperscale data centre campus in Chennai

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NTT launches a $300 million data centre campus in Chennai

For NTT, which already has a 22% share in India’s data centre sector, the Chennai campus expands its footprint in the country to 16 facilities.

www.deccanherald.com

Decoding Bharat Innovation Fund’s $100 Million Deeptech Investment Play In India​

Decoding Bharat Innovation Fund’s $100 Mn Deeptech Investment Play In India

Ashwin Raguraman of Bharat Innovation Fund (BIF) are betting big on the India’s deeptech startup ecosystem, which is growing at a pace never seen before.

inc42.com

NSE Gets Trading Approval For GIFT City, 8 Major U.S. Stocks To Be Traded​

Initially, the exchange will start trading in 8 counters – Alphabet, Amazon, Tesla, Meta, Microsoft, Netflix, Apple and Walmart. Eventually, other big companies like Berkshire Hathaway, Mastercard, JP Morgan Chase, Morgan Stanley, Nike, Paypal, Pepsico, Pfizer and Intel will join the Gift City platform for trading.

NSE Gets Trading Approval For Gift City, 8 Major U.S. Stocks To Be Traded

You will soon be able to buy blue-chip American stocks in rupees. Gift City NSE IFSC has received approval to trade receipts of 50 US-based stocks. Initially, the exchange will start trading in 8 counters – Alphabet, Amazon, Tesla, Meta, Microsoft, Netflix, Apple and Walmart. Eventually, other...

www.businesstoday.in

Blue Eye Soft International to Operate in India’s GIFT City​

Blue Eye Soft International to Operate in India’s GIFT City

First Foreign Space Tech Company to Receive Regulatory Approval

www.einnews.com

India a key destination to strengthen global supply chains for Taiwanese tech firms: Deputy Minister for Taiwan's National Development

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India a key destination to strengthen global supply chains for Taiwanese tech firms: Dy Min for Taiwan's National Development

Leading Taiwanese technology firms are looking at relocating their manufacturing bases to India to bring down their exposure to the Chinese market amid the self-governed island's increasingly tense relations with China. Deputy Minister for Taiwan's National Development Kao Shien-Quey said there...

economictimes.indiatimes.com

Leading Taiwanese firms looking at relocating production bases to India: Policymakers

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India a key destination to strengthen global supply chains for Taiwanese tech firms: Dy Min for Taiwan's National Development

Leading Taiwanese technology firms are looking at relocating their manufacturing bases to India to bring down their exposure to the Chinese market amid the self-governed island's increasingly tense relations with China. Deputy Minister for Taiwan's National Development Kao Shien-Quey said there...

economictimes.indiatimes.com

India's Bharat Petroleum to raise $2.19 billion in green energy push​

India's Bharat Petroleum to raise $2.19 billion in green energy push

State-owned oil marketing company Bharat Petroleum said on Wednesday it approved raising up to 180 billion rupees ($2.19 billion) through an issue of equity shares on a rights basis underscoring India's push to achieve net zero-emissions goals.

www.reuters.com

Engine maker Cummins to invest $1 billion in India

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Engine maker Cummins to invest $1 billion in India

Cummins Group plans to invest $1bn in India over the next decade and recruit 4,000 staff as it shifts from fossil fuel engines to hydrogen and green energy options. Most of its Indian business is in Tata Cummins. In April, it partnered with Tata Motors to develop low-to zero-emission products...

economictimes.indiatimes.com

GAIL plans $4.9 billion ethane cracker in West India​

GAIL plans $4.9 billion ethane cracker in West India

Indian companies are boosting their petrochemical production capacity as the expanding economy boosts the need for goods ranging from plastics to paints and adhesives. A cracker produces ethylene, required for products such as plastics.

www.moneycontrol.com

India’s Global Capability Centers Market Estimated to Reach US$110 Billion by 2030​

India’s Global Capability Centers Market: Outlook to 2030

India's global capability centers (GCC/GIC) market is thriving, with a projected CAGR of 14 percent for the period from 2023 to 2030.

www.india-briefing.com

Market size of India's online retail sector likely to touch $325 billion by 2030: Deloitte India report

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Market size of India's online retail sector likely to touch $325 billion by 2030: Deloitte India report

The report attributes these projections to the rapid growth of e-commerce in tier-2 and tier-3 cities, which have surpassed tier-1 markets in terms of total orders.

economictimes.indiatimes.com

 

[CallSignMaverick]

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[CallSignMaverick]

Lulu Group to invest Rs 10,000 crore ($1.25 billion) in India over 3 years to complete ongoing projects

Lulu Group plans to invest Rs 10,000 crore in India over next three years

A brand new Lulu Mall in Hyderabad, spanning five lakh square feet and constructed with a total investment of Rs 300 crore, is scheduled to be inaugurated in August, 2023

www.businesstoday.in

Former Japanese PM Suga To Lead Large Business Delegation To Push Investments In India, Will Be Accompanied By 'Ganesha Group' MPs

Former Japanese PM Suga To Lead Large Business Delegation To Push Investments In India, Will Be Accompanied By 'Ganesha Group' MPs

Former Prime Minister of Japan Yoshihide Suga will be on a visit to India along from Tuesday (4 July)

swarajyamag.com

World Bank approves $1.5 billion financing for India’s energy transition

World Bank approves $1.5 bn financing for India’s energy transition

A statement from the World Bank said that the financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen, and stimulating climate finance for low-carbon energy investments.

www.livemint.com

ICEA sets up taskforce to take India-US electronics trade to $100 billion in a decade

ICEA sets up task force to raise Indo-US electronics trade to $100 billion by 2033

This comes after India and the United States joined forces to drive forward transformative initiatives, following Modi’s state visit to the US last month

www.livemint.com

Indian tyre Industry revenue to soar to US$22 billion by fiscal 2032: ATMA report

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Indian tyre Industry revenue to soar to USD 22 bn by fiscal 2032: ATMA report - ET Auto

Atma: The report estimates the industry’s turnover will increase 100 basis points to 3.4% of India’s manufacturing gross domestic product (GDP) by fiscal 2032 compared with 2.2% in fiscal 2022. Further, its contribution to Goods and Services Tax (GST) will rise to USD 4.1 billion from USD 2.0...

auto.economictimes.indiatimes.com

Major growth. Honeywell aims to double $1 billion India business

Honeywell aims to double $1 billion India business

Honeywell expects major growth to come from micro, small, and medium enterprises (MSMEs), east for east (local sourcing and manufacturing for the local market), digitisation, automation and sustainability solutions, as it gears up to double its current $1 billion business from India

www.thehindubusinessline.com

India registered FII equity inflow of $12 billion for June quarter

India registered FII equity inflow of $12 billion for June quarter

India registered FII equity inflow of $12 billion for June quarter

in.investing.com

India Inc's fundraising from overseas up 12% to $9.7 billion in H1 2023 (January to June)

India Inc's fundraising from overseas up 12% to $9.7 billion in H1 2023

Several companies, led by Reliance Industries, raised funds from overseas

www.google.com

Oracle India SaaS business recorded 43 per cent growth in Q4

Oracle India SaaS business recorded 43 per cent growth in Q4

Oracle India has seen momentum across industries such as healthcare, financial services, manufacturing, IT/ ITeS, BFSI, and the public sector.

www.google.com

Government Raises Record-breaking Rs 70,000 Crore ($9 billion) From Highway Monetisation, To Fuel Infrastructure Development

Government Raises Record-Breaking Rs 70,000 Crore From Highway Monetisation, To Fuel Infrastructure Development

The improved connectivity will contribute to the overall growth and progress of the nation.

swarajyamag.com

Global trade fairs on cards; sectoral targets for $1 trillion exports by 2030

Global trade fairs on cards; sectoral targets for $1 trillion exports by ’30

Officials said investment promotion arm Invest India, which is also drawing up the countrys trade strategy, has identified 100-odd companies across 30 sectors and 30 countries, and around a 100 more being shortlisted as part of the Strategic Investment Targets Initiative. Besides, sectoral...

m.economictimes.com

IndiGo places record order for 500 Airbus A320 aircraft

"This 500 aircraft order is not only IndiGo’s largest order but also the largest-ever single aircraft purchase by any airline with Airbus."

IndiGo places record order for 500 Airbus A320 aircraft

The engine selection for this order will be done in due course and so will be the exact mix of A320 and A321 aircraft, the company said in a statement.

www.google.com

The Race to $300 Billion: Can India’s Biotech Sector Achieve the Unthinkable in Just 8 Years?

https://www.biotecnika.org/2023/07/biotech-sector-dollar300-billion-goal-close/

Taiwanese EV Giant Gogoro Signs $1.5 Billion Mega Deal With Maharashtra To Manufacture Vehicles, Smart Battery Packs, Battery Swap Stations

Taiwanese EV Giant Gogoro Signs $1.5 Billion Mega Deal With Maharashtra To Manufacture Vehicles, Smart Battery Packs, Battery Swap Stations

swarajyamag.com

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[CallSignMaverick]

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[CallSignMaverick]

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Boeing to significantly ramp up sourcing from India: Salil Gupte​

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Boeing to significantly ramp up sourcing from India: Salil Gupte - ET Infra

Boeing will ramp up its sourcing from the country from current $ 1 billion annually. Boeing India president Salil Gupte has told TOI that Prime Minister Modi’s recent US visit has “certainly laid the groundwork for engine manufacturing” in the country.

infra.economictimes.indiatimes.com

E-Commerce Growth In India To Hit $150 Billion By 2026: Report​

E-Commerce Growth In India To Hit $150 Billion By 2026: Report

UPI’s dramatic success derives largely from its seamless interoperability with commercial wallets such as Google Pay, Paytm, and PhonePe, the report said.

zeenews.india.com

Manufacturing sector booming in India as reflected in sky high PMI

A Japanese conglomerate is leading the race among the bidders to acquire the land which has a development potential of 2 million square feet for commercial purposes.

https://www.business-standard.com/industry/news/bombay-dyeing-to-sell-central-mumbai-land-parcel-at-rs-5-000-cr-valuation-123070500688_1.html

 

[CallSignMaverick]

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India received 3rd highest FDI in the world in 2022, report by UN body finds

India received 3rd highest FDI in the world in 2022, report by UN body finds

UN Conference on Trade and Development report also found that Indian companies were increasingly investing in new projects abroad, with such outward investment tripling in 2022.

theprint.in

 

[CallSignMaverick]

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[CallSignMaverick]

$1.25 billion EV bus order

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$7 billion investments by Indian Oil

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[hari sud]

All the forgoing says one thing and one thing only that is India is on the move upwards. Whereas its neighbour to the West is moving downwards with a begging bowl. …….

 

[CallSignMaverick]

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Google to set up new data center in Navi Mumbai; Rents 3.81 lakh square feet land​

The proposed data center is part of the tech giant's efforts to expand cloud infrastructure in India.

Google to set up new data center in Navi Mumbai; Rents 3.81 lakh sq ft land

Maharashtra Industrial Development Corporation's industrial estate located in Navi Mumbai is all set to house Google's latest data center in India as the compan

www.knocksense.com

Industrial & warehousing sector recorded space absorption of 22.4 mn sq ft in H1 2023: Savills India​

https://www.financialexpress.com/money/industrial-amp-warehousing-sector-recorded-space-absorption-of-22-4-mn-sq-ft-in-h1-2023-savills-india/3158312/

Tamil Nadu targeting manufacturing deals with half of the world's top electronics majors, says industries minister​

Tamil Nadu targeting manufacturing deals with half of the world's top electronics majors, says industries minister - CNBC TV18

Tamil Nadu has set its sights on becoming a production base for at least half the total number of manufacturers in the electronics supply chain, said the state's industries minister in a chat with CNBC-TV18.

www.cnbctv18.com

Nifty @ record high: Foreign investors pour in nearly $3 billion on Dalal Street this week

Nifty @ record high: Foreign investors pour in nearly $3 billion on Dalal Street this week

FII strategy is focussed more on country-specific factors rather than sectoral prospects within a country. Thats why they adopted the ‘Sell India, Buy China strategy in Jan and February. During these 2 months, FIIs sold financial services for Rs 15,744 crores. Now, pursuing the ‘Sell China, Buy...

economictimes.indiatimes.com

 

[CallSignMaverick]

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[CallSignMaverick]

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PetroChina International, Tourism Australia lease offices in Maker Maxity in BKC​

The oil and gas giant and Australia’s tourism authority have leased offices in the premium office complex in Bandra Kurla Complex​

PetroChina International, Tourism Australia lease offices in Maker Maxity in BKC

The oil and gas giant and Australia’s tourism authority have leased offices in the premium office complex in Bandra Kurla Complex

www.hindustantimes.com

Axis AMC leases two floors in Macrotech Developers' Mumbai tower

Read more at:
https://realty.economictimes.indiat...n-macrotech-developers-mumbai-tower/101624590



Godrej & Boyce announces a new facility at Khalapur in Maharashtra

Read more at:

Godrej & Boyce announces a new facility at Khalapur in Maharashtra - ET Infra

Godrej Group: Anil G Varma, Executive director & chief Executive director said to ETInfra, "With the 4 times the area of the existing facility of Vikhroli, the production capacity of the new facility will be 4 times as per the demand and as per the launches as the capacity is not the problem.

infra.economictimes.indiatimes.com