Page 46 - Investment

PLI schemes for new sectors not being considered at present: DPIIT Secy

The government will focus on the existing PLI schemes for 14 sectors and for the time being is not considering to include new sectors like toys in the programme, a top official said on Thursday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said the Production-Linked Incentive (PLI) scheme for 14 sectors such as pharma, white goods, and electronics are doing good. "Currently we are focused on getting these 14 PLIs. All are up and running in a good way. So for the time being, the new PLIs are not being considered and we will focus on ensuring that these existing schemes get implemented well and thereafter we will see," Singh told reporters here. The government has earlier planned to extend the scheme for new sectors such as leather, toys, and new-age e-bikes to utilise the remaining amount earmarked for the 14 sectors. The PLI scheme was announced in 2021 for 14 sectors such as telecommunication, white goods, textiles, manufactur

Record monthly FPI buying in December drives Nifty 50 to record highs

FPIs bought shares worth 427.33 billion rupees in the first half of December, marking a fortnightly record, driven by lower U.S. bond yields amid expectations of interest rate cuts by Federal Reserve

Investigate Religare Finvest's 8% ESPOs allotment to Saluja: Burman family

Burman family on Wednesday called for an investigation into the allotment of 8 per cent share of Religare Finvest Ltd to Religare Enterprises Chairman Rashmi Saluja through Employee Stock Ownership Plans (ESOPs). Terming the allotment as "unfortunate", the Burman family, the largest shareholder of REL in which it collectively owns 21.24 per cent through its entities, said the process "raises a question mark on the management and the independence of the independent directors" of the diversified financial services firm. The Burman family, the promoter of Dabur India and other entities such as Eveready Industries, had in September announced a Rs 2,116 crore open offer to the shareholders of Religare Enterprises Ltd (REL) to acquire up to 26 per cent stake in the company. "It is unfortunate that a solitary executive has cornered a significant quantum of remuneration through ESOPs at REL, Care Health Insurance Limited, and RFL, all without approval and requisite disclosure to REL ...

Gujarat govt signs deals worth $86 billion ahead of investment summit

The home state of Prime Minister Narendra Modi has been signing these agreements ahead of its biennial Vibrant Gujarat Global Summit

Vibrant Gujarat Summit: Investment push to create employment opportunities

Gujarat's commitment to progress is evident not only in its thriving economy but also in employment statistics, with the state having the labour force participation rate of 44.3 per cent and worker population ratio of 43.3 per cent for all age groups, officials said. The Gujarat government's thrust to create opportunities and foster a thriving workforce is evident in its numbers and expert analysis. May be other states can adapt this model to lower their unemployment numbers, Chief Minister Bhupendra Patel said at a function recently. Gujarat's unemployment rate of 2.2 per cent is considerably lower than the national average of 4.2 per cent, thanks to the conducive investment environment created by the government that adds to job creation, as per government data. More than 2,700 Memorandums of Understanding (MoU) signed by investors with the state government so far in the run up to the Vibrant Gujarat Global Summit to be organised from January 10 to 12 have the potential to generate

Pro-industry policies have helped Gujarat attract investment: Officials

Gujarat's industry-friendly policies have played a key role in attracting investments across sectors and underscore the state government's commitment to drive India's economic growth, officials said. Like the previous nine Vibrant Gujarat Global Summits held over the last two decades, the 10th edition of the summit, to be organised in Gandhinagar between January 10 and 12, 2024, will serve as a platform to showcase the state's commitment to promote business-friendly policies, they said. The state aims to support the Centre's vision of 'Atmanirbhar (self-reliant) Bharat' through 'Atmanirbhar Gujarat,' and measures announced to attract businesses are aimed towards the same, the officials said. They credited Prime Minister Narendra Modi's vision for economic development behind the state's progressive policies. "The Vibrant Gujarat Global Summit has played a key role in attracting an impressive USD 55 billion in foreign investments over the past two decades. It has contributed to more

2023 an important year in development journey of Uttarakhand: CM Dhami

"Through the Uttarakhand Global Investors Summit, we signed MoUs worth Rs 3.5 lakh crore, more than our set target of Rs 2.5 lakh crore," CM Dhami said in a statement on Sunday

Dec 2023 becomes highest funded month as startup investments cross $1.6 bn

Budding companies had raised $1.4 million in January this year. Regardless, startup funding hit a seven year low in 2023

Delayed Central infrastructure projects down for second month in a row

Cost overrun maximum for transport sector

MICL Gr to invest Rs 50 cr for residential property redevelopment in Mumbai

The site is located at Mumbai's Pali Hill, the epitome of upscale living with scenic views, affluent residences, and a vibrant cultural scene, surrounded by lush greenery

Foxconn invests fresh capital of around Rs 461 crore in Bengaluru unit

Taiwanese electronics manufacturing services major Foxconn has infused USD 55.29 million (about Rs 461 crore) in Bengaluru-based Foxconn Precision Engineering Private Limited, according to a regulatory filing. The company has made the investment through its Singapore-based subsidiary Foxconn Singapore Pte Limited. Foxconn Singapore has acquired about 46,08,76,736 shares at Rs 10 each, amounting to around USD 55.29 million (Rs 460.87 crore), according to the filing. Foxconn Precision Engineering was incorporated around six months ago. In July, Foxconn proposed to set up a Rs 8,800-crore supplementary plant to that of its unit at the Devanahalli Information Technology Investment Region in Karnataka. It has also bought 300 acres at Devanahalli. According to the announcement made earlier by the Karnataka government, Foxconn is expected to create employment for about 50,000 people in the first phase at Devanahalli.

Time for private sector to think big & bold for investment cycle: DFS secy

Banks need to do stress testing for cyber risks

P-Note investments surge to Rs 1.31 trillion on domestic mkt strength

Investments through participatory notes in the Indian capital markets jumped to Rs 1.31 lakh crore by the end of November, bouncing back from a decline in the previous month, owing to the robust performance of the domestic market. Before registering a decline in October, investments through P-notes have been increasing continuously since March, following the stable Indian economy against an uncertain global macro backdrop. The latest data includes the value of participatory note investments in Indian equity, debt, and hybrid securities. Participatory notes (P-notes) are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to the latest data from markets regulator Sebi, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 1,31,664 crore at the end of ...

Great time to be deploying capital, will be busy in 2024: Fundamentum GM

Focus on technological edge and prudent deployment

PLI schemes attracted over Rs 95,000 cr investment till Sep 2023: Centre

The production-linked incentive (PLI) schemes for 14 sectors have attracted over Rs 95,000 crore in investment till September this year, an official statement said on Tuesday. According to the Commerce and Industry Ministry, as many as 746 applications have been approved till November 2023 under these schemes. In the Union Budget 2021-22, the government announced an outlay of Rs 1.97 lakh crore for the schemes. The sectors included electronics, telecommunication, pharma, white goods (AC and LED light components), and textiles. The aim is to enhance India's manufacturing capabilities and exports. "746 applications have been approved till November 2023. PLI units are established in more than 150 districts (24 states). Over Rs 95,000 crore of investment reported till September, which has led to production/sales of Rs 7.80 lakh crore and employment generation (direct & indirect) of over 6.4 lakh," the ministry said. It added that incentives worth around Rs 2,900 crore have been ...

InCred announces list of investors injecting Rs 500 crore in company

The round saw participation from ultra-high-net-worth individuals (HNIs), Family Offices, and institutional investors such as Varanium Capital Advisors and Sattva Group

Thousands of crore invested in Indore's vicinity during our govt: PM Modi

Prime Minister Narendra Modi on Monday said investments of thousands of crores have been made in Indore's vicinity during the BJP's "double-engine" government. This will give rise to thousands of employment opportunities, Modi said addressing via video link a programme organised to distribute dues worth Rs 224 crore pertaining to workers of the Hukumchand Mill in Madhya Pradesh's Indore city. The decision will benefit more than 4,800 labourers, he said at the programme 'Mazdooron ka Hit, Mazdooron ko Samarpit'. The PM also praised the state government for resolving this issue, which was pending for a long time, and said he was fortunate to be a part of this event. "Four castes - poor, youth, women and farmers - are very important for me," he said. Modi further said that getting the blessings of labourers on the occasion of the Good Governance Day, being observed on former prime minister Atal Bihari Vajpayee's birth anniversary, will prove to be beneficial for the "double-engine" .

Odisha govt approves seven industrial projects worth Rs 1482.53 crore

The Odisha government approved seven industrial projects with a collective investment of Rs 1482.53 crore, which would create employment for over 11,500 people. The State Level Single Window Clearance Authority (SLSWCA) led by Chief Secretary Pradeep Kumar Jena on Friday approved these projects to be set up in Khurda, Ganjam, Sundargarh, Keonjhar, Jajpur, Balasore, and Rayagada districts, a government statement said. The SLSWCA approved the proposal of Tech AIC DRI Pellets Pvt Ltd to set up a steel manufacturing plant with an investment of Rs 800 crore in Keonjhar district, it said. MAS Udyat India Pvt Ltd got the state government's nod for establishing an integrated textile facility with an investment of Rs 214.40 crore in Khurda district. Alenn Steel Industries Pvt Ltd has committed to invest Rs 178 crore by establishing a cold rolled precision pipes manufacturing unit at Kalinganagar in Jajpur district. The state government also approved the Rs 121.21 crore investment proposal

India has over 19 million crypto investors with 75% youth: Report

Major metro cities such as Delhi, Bengaluru, and Mumbai account for over one-fifth of the total value of crypto investments in the country

Food delivery major Zomato denies it is acquiring logistics firm Shiprocket

Deal for $2 bn is 'incorrect news, media speculation', says company in response to reports