Page 3 - Industry

How fate played a role in Ratan Tata becoming a global business icon

Ratan Tata, the former chairman of Tata Sons, passed away on Wednesday at the age of 86 in Mumbai. Under his leadership, the Group transformed from an Indian-focussed entity to a global powerhouse

Industry upbeat on policies as biz confidence index at 2-qtr high: CII

The industry is buoyed by policy continuity as the CII Business Confidence Index soared to a two-quarter high of 68.2 for the July-September period this fiscal, the lobby grouping said in its first survey after the Lok Sabha polls. The 128th round of the CII Business Outlook Survey was conducted in September 2024, covering more than 200 firms of varying sizes across all industry sectors and regions. Economic momentum has gained speed post the general elections, the industry body stated. India's economic growth has held up well despite global challenges, CII said, asserting that the upcoming festive season portends well for fortifying growth prospects further. However, it cautioned that the "uncertainty in the global scenario persists, necessitating a careful watch on the evolving economic conditions". A few niggling business concerns have been highlighted by the respondents in the survey, with protracted geopolitical tensions, spike in global commodity prices and slowing external

Delhi govt to launch facility for quick clearance of investors' application

The Delhi government will next week launch a single window facility for faster clearances of investors' applications, boosting ease of doing business in the city. The beta version of the single window system will be launched by Industry Minister Saurabh Bharadwaj on Monday, said a government statement. "The platform aims to streamline pre-operation approvals, reduce compliance, promote sector-specific reforms, shorten project timelines and enhance ease of starting and doing business in Delhi," Bharadwaj said. The portal will help realize objective of speedy processing of clearances and providing investor-friendly environment to business, he added. So far, 59 services across 12 stakeholder departments have been onboarded on the platform. Specifically, 37 services from seven departments namely labour, MCD, Delhi Pollution Control Committee, weights and measures, DJB, power discoms and industries were onboarded on the single window system in the first phase of the plan, the minister

Strive for scientific disposal of waste: CM Patel to industry leaders

Gujarat Chief Minister Bhupendra Patel on Thursday urged industry leaders to aim for "100 per cent" disposal of chemical waste in a scientific manner while stressing on the need to protect the environment. Patel made the appeal while addressing industrialists and other stakeholders at the 'Chemical & Petrochemical Conclave' organised here by the Associated Chambers of Commerce & Industry of India (ASSOCHAM) Gujarat Council. "After the success of Make in India, we are moving towards Made in India. When we aspire to be global leaders in different sectors, we should also focus on sustainable development and how we can take care of our environment in our daily life," he said. "Time has gone when we used to only think about growing our businesses. Today, I want to urge the chemical industry to find out ways to ensure 100 per cent disposal of chemical waste in a scientific manner so that it does not affect the environment," the CM added. There was a time when some industries used to

India's exports shrink 9.3% in August, trade deficit at 10-month high

Inbound shipments into the country rose 3.3 per cent to $64.4 billion during the month, leading to a trade deficit of $29.65 billion

Hyperbots to Revolutionize AI in Finance; Raises US$2M Seed Funding from Kalaari Capital, Sunicon Ventures, and Athera Venture Partners

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Kerala wins top performer award in lists of business-centric reforms

In a huge endorsement of its highly conducive business ecosystem and transparent and inclusive service delivery mechanism, Kerala has emerged as the country leader in two categories of business-centric reforms and seven categories of citizen-centric reforms in the ranking of the Union Ministry of Commerce and Industry. The award was presented at the Conference of State Industries Ministers held on Thursday at Palash Hall (Grand Ball Room) of the Yashobhumi Convention Centre, New Delhi, according to an official release here. Union Minister of Commerce Piyush Goyal presented the Business Reforms Action Plan '22 (BRAP 22) award of the Department for Promotion of Industry and Internal Trade (DPIIT) to P Rajeeve, Minister for Industries, Law and Coir, Government of Kerala, at the conference, Udhyog Sangam 2024, said the release issued by the Kerala State Industrial Development Corporation (KSIDC). Union Minister of State for Commerce & Industry and Electronics & Information ...

Industry came forward for rules on small, medium Reits, says Sebi chief

Sebi chief Madhabi Puri Buch on Thursday said there has been a positive response to small and medium REITs (real estate investment trusts) and industry players came forward for regulations on such entities. Recently, the Securities and Exchange Board of India (Sebi) implemented regulations for small and medium real estate investment trusts (SM REITs) aimed at significantly increasing investor interest in fractional ownership of real estate assets. Speaking at the Global Fintech Fest 2024, Buch spoke about compliances and the role of the regulator and said that industry players came forward for regulations on small and medium REITs. The remarks by the Sebi chairperson came days after the US short-seller Hindenburg Research alleged that recent amendments to Sebi's REIT Regulations 2014 were made to benefit a specific multinational financial conglomerate. However, the markets regulator had stated that Sebi (REIT) Regulations, 2014 has been amended from time to time. Also, Hindenburg

'Smells of predatory pricing': Piyush Goyal red-flags e-commerce boom

Questions Amazon's India investment strategy, says it is to make up for losses

Brews & Spirits Expo 2024: A Premier Gathering for Innovation in the Alcobev Industry

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Buddhadeb Bhattacharjee, a veteran communist who wooed capital for industry

Former West Bengal chief minister and a front-ranking Marxist leader Buddhadeb Bhattacharjee will go down in the country's history as a pragmatic communist who kept aside his ideological convictions to woo capital for the industrialisation of his state. The CPI(M) stalwart - a quintessential Bengali 'bhadralok' with an incorruptible image - will be ironically remembered also for the fall of the 34-year-old Left regime in the state in 2011. He oversaw the end of an era in which he helmed the longest democratically elected communist government but failed to lead the Left Frong to victory for the eighth time in a row in the highly politically polarised state. Bhattacharjee who died on Thursday in his Kolkata home was 80. He left behind his wife and a daughter, who has declared to be undergoing gender change. Bhattacharjee, who was the seventh chief minister of the state, pushed hard to shed his party's anti-industry image and promote industrialisation to breathe new life into Bengal's

Trade body to nurture, promote women biz leaders in UP's MSME sector

The e-commerce majors are also bullish on the state trading and industrial landscape for growth

Volatile market, policy issues cause a drop in India's AI startup funding

The drop recorded for the April-June quarter this year was 91 per cent from the previous quarter and 82 per cent from the same period last year

India sees fastest growth in electronic waste generation: Unctad report

Unctad report says country saw a 163% jump in E-waste generation between 2010-22

Kia India sales zoom past 120,000 in 2024 first half; records 6% growth

Kia India on Monday said its total wholesales increased 10 per cent year-on-year to 21,300 units in June. The automaker had dispatched 19,391 units to dealers in June 2023. Kia India also reported 1,26,137 unit sales in the first half of the year, marking a 6 per cent growth over the year-ago period. "We have observed a healthy month-on-month sales growth in H1 2024, averaging over 21,000 units per month. Our superior product offerings have consistently attracted customers to our showrooms throughout the year, maintaining a strong sales position," Kia India Senior VP and Head Sales & Marketing Hardeep Singh Brar said in a statement. The automaker is committed to sustain this positive trend for the remainder of the year through network expansion, he added.

Leasing for flexible offices records best quarter in April-June: Report

Mumbai leads trend; India's office market to see 'sustained growth': Colliers

Ficci appoints Jyoti Vij as new director general with immediate effect

In another development, Shailesh Pathak, secretary general, Ficci has resigned citing personal reasons

Public procurement norms: Govt may hike local content requirement

Former industry secretary Ajay Dua said that over time, the minimum threshold had to be increased to promote local industries and increase the contribution of manufacturing to GDP

Little room: Businesses struggle for expansion in Kolhapur and Sangli

Stifled growth: Businesses grapple with land shortage and soaring power tariffs

Mumbai property registrations rise 11% to 11,628 units in April: Report

Registration of properties in the Mumbai municipal area rose 11 per cent in April to 11,628 units mainly on strong housing demand, according to Knight Frank. In April 2023, the registration of properties in Mumbai stood at 10,514 units. In March 2024, the registration of properties stood at 14,145 units. According to Knight Frank, the registration of properties stood at 11,628 units last month. "The enduring confidence of homebuyers in the Mumbai market has maintained a positive outlook. This optimism has driven Mumbai's property registrations consistently exceeding the 10,000 mark for the fourth consecutive month in 2024," Knight Frank said. Of the overall registered properties, residential units constitute 80 per cent. Shishir Baijal, Chairman & Managing Director, Knight Frank India, said, "The buoyant market conditions have significantly boosted the state treasury, marking its highest-ever revenue collection for April. Property registrations in April have surged, highlighting