#investinIndia

Samsung to relocate mobile display plant from China, to invest Rs 4,825 crore in Yogi Adityanath’s Uttar Pradesh: Details of the deal

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 Smartphone major  Samsung is all set to relocate its mobile and IT  display production unit from China to Uttar Pradesh and invest Rs 4,825 crore in the state. According to the reports, the new production plant by  Samsung will be the first high-technique project, which is being set up in India after relocating from China. The new project is likely to generate 1,500 … Read more

Adani announces deal with Flipkart for new data centre and logistics facility, ‘Ambani-Adani’ social media warriors now want to boycott Flipkart

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The Adani Group and Indian e-commerce major Flipkart on Monday announced that they have entered into a strategic and commercial partnership. As per reports, Flipkart will work with Adani Logistics Limited to strengthen its supply infrastructure enhance its customer serving capacities. Adani Group’s chairman Gautam Adani announced on Twitter that in the two-prong partnership, AdaniConneX will … Read more

Karnataka HC dismisses petitions against probing Amazon, Flipkart: Here are the allegations against e-commerce giants

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On Friday, the Karnataka High Court dismissed the plea filed by e-commerce companies Amazon and Flipkart, challenging the probe ordered by the Competition Commission of India (CCI) against them for violations of Competition Law. In a significant judgement on Friday, the Karnataka High Court quashed the writ petitions filed by Amazon.com Inc. and Walmart-owned Flipkart against an … Read more

Kitex Garments Ltd stock surges in the last five days after the company announced its exit from Communist-ruled Kerala: Read details

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Kerala-based Kitex Garments Ltd. shares have gained nearly 25% in the last five days after the textile company decided to quit Communist-ruled Kerala over increasing harassment by the Pinarayi Vijayan-led government Earlier this month, the largest private-sector employer in Kerala – Kitex Group had announced their decision not to go forward with the Rs.3,500 crore investment project … Read more

India’s manufacturing sector sees the strongest rate of growth in July in recent months: IHS Markit survey

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As per the IHS’s recently released monthly Survey, India’s manufacturing sector witnessed the strongest growth in the manufacturing sector in July in the last three months.  Asserting the strongest growth rate, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) rose from 48.1 in June to 55.3 in July. It is imperative to note that … Read more

Finance Ministry introduces bill to withdraw retrospective tax and refund collected amounts, says the tax is a sore point for investors

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One of the worst legacies of the UPA government carried forward by the Modi government, the provision for Retrospective Tax, is finally set to be buried. The union finance ministry on Thursday informed the Lok Sabha that it is bringing an amendment to the Income Tax Act, 1961 to this effect. The move comes even as the … Read more

Karnataka ranks at the top, attracts almost 50% of the total FDI flow to India in the Apr-June quarter

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The state of Karnataka has attracted Foreign Direct Investments (FDIs) worth Rs 62,085 crore in the first quarter of FY 2022 which is 48% of the total such investments India received during this period. When India was battling to control the second wave of Covid 19, Karnataka has managed to attract huge foreign investments, hinting at the … Read more

Ford India shuts shop after a decade of bad business: How it went from accumulated losses of ₹1,764 crore in 2014 to ₹14,802 crore in 2021

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 Ford India, the Indian arm of American auto major, today announced that it is ending the manufacturing of vehicles in the country. The company has decided to shut down its car assembly plants in Sanand in Gujarat and  Chennai in Tamil Nadu, after suffering continuous losses for several years. The company will however keep the engine plant in Sanand running … Read more

PepsiCo India sets up its largest greenfield food plant in Mathura in Uttar Pradesh, a year after wrapping up business in Kerala

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PepsiCo India has chosen Uttar Pradesh to set up its largest greenfield foods plant to manufacture potato chips. UP CM Yogi Adityanath on Wednesday (September 15) inaugurated the leading global food and beverage company’s largest greenfield foods plant worth Rs 814 crore in Kosi Kalan in Mathura. It may be noted that the company had taken an exit route … Read more

Banks suffer due to bad loans, then economy suffers as banks lend less – Read how ‘Bad Bank’ will break this vicious cycle

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Yesterday the union cabinet approved the setting up of the National Asset Reconstruction Company (NARCL) with the objecting of cleaning the banking sector of bad loans. This institution has been dubbed as ‘Bad Bank’, because it will take over bad debt of nearly Rs 2 lakh crore from banks, cleaning the books of the banks. This is … Read more