News digest: Modi's diplomacy, GST collections, S K Bangur group, and more

What makes mid-market hotels the star of India's hospitality sector?

 

In 2002, there were 26,000 branded hotel rooms, of which some 6,000 were mid-market. Today, the number has jumped about five times to 125,000 branded rooms, with 53,200 rooms, or 43 per cent, being mid-market, according to the data from Horwath HTL, a global hospitality advisory firm. Read more

 

Tata defence cluster rejig likely by June; all biz to come under one roof

 

The Tata group will soon start the process of hiving off all the defence-related businesses housed in various operating companies into a vertical under Tata Sons and conclude the process by June 2018, said sources aware of the plans. Read more

 

India shares Asean vision for rule-based societies, values of peace: Modi

Amid concerns over China’s increasing assertiveness in the region, India and ten Asean countries on Thursday agreed to establish a mechanism for greater maritime cooperation in the maritime domain. Read more

 

S K Bangur's grandsons petition court for carving up Rs 30 billion assets

 

The S K Bangur group, owners of West Coast Paper Mills, is facing a suit for portioning its assets, estimated at Rs 30 billion. The suit has been filed by S K Bangur's minor grandsons, and initiated by their mother, Nitya Bangur, in the Calcutta High Court. Read more

 

At Rs 867.03 bn, GST receipts short of target for third month in a row

Goods and services tax (GST) collections for December did not deliver much comfort to the government ahead of the Budget, although these rose after two months of declines. Goods and services tax (GST) collections for December did not deliver much comfort to the government ahead of the Budget, although these rose after two months of declines. GST collections at Rs 867.03 billion were less than the target of Rs 910 billion combined for the Centre and states.

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