India Business News

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Jan 16, 2018
New R N D hub to be set in Ireland by Tata Motors' Jaguar Land Rover

Tata Motor's Jaguar Land Rover is pondering to set up a new Software hub at Shannon in Ireland. The company has wider plans to invest in driver-less technology. As per reports, the plans of the UK-based luxury car company is to create around 150 jobs at the site where research on new technology will take place which will be related to battery-powered cars and automated driving.

Budget 2018: Former RBI governor Bimal Jalan says Government has to maintain the balance between both fiscal and economic growth
 
As the budget of 2018 is about to be released, various statements are being given by people indicating their expectations. According to the former RBI Governor Bimal Jalan, it is necessary for the government to maintain a balance between the fiscal and economic growth in the budget of 2018. Further shifting his focus towards the agriculture sector he recommended the Finance minister that the farmers should be provided with an incentive in terms of fertilizers and investments in the budget of 2018.
Jan 12, 2018
Transamerica enters into an agreement with TCS
The US Subsidiary of Aegon, which is commonly known as “Transamerica”, has partnered with Tata Consultancy Services. The agreement is made between the two companies to administer the annuity business, insurance, and workplace benefits.
 
Through this partnership TCS will be helping Transamerica to enhance the digital capabilities and simplify the service of more than 10 million policies into an integrated modern platform. As per Rajesh Gopinathan, the CEO and MD of Tata Consultancy Services, the deal bagged by TCS is worth 2 Billion dollars.
Investment Banking and Broking Biz: Mirae Asset Group to foray into PE
Mirae Asset Group is the top performer in mutual fund category in India. This group is planning to foray into broking business. This group already in the verticals dedicated to private equity and investment banking. They are setting up investment and brokering business through Mirae Asset Capital Market India Pvt Ltd. Swarup Mohanty, Chief Executive Officer, Mirae Asset Global Investments (India) said on the press meet held in Mumbai to discuss the business plans and outlook 2018. He said in the upcoming year, we have a lot of opportunities to selectively launch new products, it is because of SEBI circular on scheme categorisation. Juxtapose, Mirae Asset is ready to launch a Mirae Asset Short Term Bond Fund probably at the end of February 2018. And rest of the funds like Equity saving fund and arbitrage fund remaining the part of the year.
 
Hike witnessed in the prices of Maruti Suzuki

There is an increase of around Rupees 17,000 (Rs. 1700 to 17,000 as per models) in the price of various models of Maruti Suzuki which is the largest car maker in the country. The new rates have come immediately into effect. Although the information of new rates was revealed on Wednesday, the announcement of the hike in rates was made last month. Other companies including Hyundai and TATA have already increased the rates this month.

Best Prepaid plans offered by Jio, Airtel and Vodafone for heavy data users

Airtel, Jio, and Vodafone are in a tough competition in the year 2018. Airtel has revised its plan of Rupees 399 and is providing similar facilities as that of Jio's plan of 398 Rupees. Airtel will now be offering 1GB 3G/4G data per day and unlimited voice calls and 100 SMS for all mobiles. The validity of the pack will be 70 days. Jio offers 1.5 GB data per day with a complimentary subscription to Jio apps with same 70 days validity. Vodafone offers 2GB data every day at Rupees 299 for a period of 28 days. Although local and STD calls offered by Vodafone are free but there is capping within the plan. Jio is offering the cheapest plans.

Jan 10, 2018
Hurdles in the path of expansion of Tata Airlines

Various hurdles like unavailability of slots and limited bilateral flying rights are going to hamper the path of expansion of the two Tata group-owned Airlines named Vistara and Air Asia in the key Gulf and Asian markets. The capacity shortage is also acting as another hurdle in the expansion as two main airports of India (Delhi and Mumbai) are already choked for the addition of new flights. Late night flights are being operated due to the unavailability of slots at the Mumbai Airport.

Indian Australian startup plans to raise 3 million dollars for global marketing
An Indian-Australian startup, which was rated among the top three in Healthcare segment during 'InSpreneur 2018' held in Singapore on January 5-6 2018, is working on its plan to raise about 3 million dollars required for the global market expansion of the company. The startup is specialized in AI-based remote patient monitoring solutions. The countries included in the expansion are Australia, Bangladesh, Southeast Asia and India. As per the co-founder and chief operating officer Baskar Parthasarathy, who is a Non-Resident Indian, the next expansion will cover North Asian, Latin American and Canadian markets, followed by North American and the European Union.
 
Brain to Vehicle(B2V) technology: Nissan is working to execute it

The multinational automobile company Nissan is working on making a car which would be able to read the driver's mind. The brain of the driver will send the waves and the waves would be interpreted through a skullcap which would be covered with electrodes and wires. This step would increase the comfort of driving making it more exciting and enjoyable. As per the reports, Nissan has planned to show this Brain to Vehicle technology at the International Consumer Electronics Show (CES) which would be held in Las Vegas.

Jan 09, 2018
Patanjali to provide a grand push to its swadeshi range of FMCG products

Patanjali is planning to give a grand push to its range of made in India (Swadeshi) products by initiating a partnership with 8 giant online retailers. The retailers include Amazon, Flipkart, Paytm Mall, 1MG, Big basket, Grofers, Shopclues, and Snapdeal. As per the reports, this step of Patanjali linking with the e-retailers is going to initiate a revolution in the online sales of these Swadeshi products. Patanjali also has its own online portal patanjaliayurved.net where the company sells its products online.

Eveready to launch its new confectionery product named - Jollies

It was reported on Monday that Eveready is all set to enter the confectionery segment. It has planned to launch its new fruit-chew named “Jollies”. This fruit-chew will be available in the market at the cost of Rupees 1. As per the Managing director, Amritanshu Khaitan, Jollies will be the first step of the company to scale up the FMCG portfolio of the organization. Branding would be the only expense which is required to take this move. The fruit chew market is estimated at the cost of 400 crores. The company expects a significant turnover and profit from this move.

Jan 06, 2018
Travis Kalnick, the co-founder of Uber Technologies soon to become a billionaire

It is reported that former Uber Technologies Inc. Chief Executive Officer Travis Kalanick is going to sell nearly half of his shares of Uber Technologies to Softbank whose worth is about 1.4 billion dollars. As per reports, Kalnick owns around 10% of the company. The deal between Softbank and Kalanick is expected to close this month once everything becomes finalized.

Rise in the demand for Cyber Insurance in India

According to reports, it is witnessed there is a rise in demand for Cyber Insurance cover in 2017, which is 50% more when compared with the figures of 2016. About 250 companies have contributed to this increasing demand for Cyber Insurance cover. Due to the increase in the number of cyber attacks, most of the banks and e-commerce companies have been procuring large insurance covers.

Jan 04, 2018
December was driven by a heavy demand for vehicles

It was reported that the Automobile manufacturers have received a healthy sale for the month of December 2017. It is due to the robust demand along with low base effect and end of season discount offers. New product launches, strategic customer initiatives, and demand for vehicles across segments are some reasons stated by Tata motors for this remarkable sale performance in December 2017. As per reports of Tata Motors, 52% rise in sales is observed this year in comparison to the sale of December 2016. Other companies like Ford, Ashok Leyland, Bajaj Automobiles etc. have reported healthy growth of 27%, 79%, and 30% respectively.

Amazon to enter into the business of Drug Prescription
As per analysts, Amazon, the biggest E-commerce and cloud computing company, is going to enter the business of drug prescription. As per media reports, the company had received approvals for wholesale pharmacy licenses in more than 12 states. The intentions of the company are not revealed publically till date. A revolution would be witnessed in the drug prescription industry if Amazon steps into this business.
Aug 17, 2017
By next month, American crude oil's first shipment will reach India

After the former president of the US, Barack Obama lifted the 40-yr-old ban on its export, the first shipment of crude oil to India worth USD 100 million will reach the country next month. On June 26, President Trump and PM Modi agreed to strengthen engagement in energy sector. India being world's 3rd largest oil importer joins South Korea, Japan and China to buy American crude.

 

By next month, American crude oil's first shipment will reach India

After the former president of the US, Barack Obama lifted the 40-yr-old ban on its export, the first shipment of crude oil to India worth USD 100 million will reach the country next month. On June 26, President Trump and PM Modi agreed to strengthen engagement in energy sector. India being world's 3rd largest oil importer joins South Korea, Japan and China to buy American crude.