#makeinIndia

‘Will they give livelihood 100 million farmers’: Amul MD responds to PETA India for asking them to use ‘vegan milk’ after losing a case to Amul

by

For the last several days, Islamist propaganda organisation PETA has been targeting Indian dairy giant Amul, asking them to switch to plant-based products from milk. Responding to their appeal, today GCMMF managing director R S Sodhi asked who will provide employment to 10 crore people who depend on the cooperative dairy sector, if the company … Read more

India’s merchandise exports witnessed an increase of 67.38% in May, trade deficit narrows to an eight-month low

by

Ministry of Commerce & Industry has announced that India’s merchandise exports in May 2021 increased by 67.39% over May 2020. At $32.21 billion, the growth was driven by sectors such as engineering, pharmaceuticals, petroleum products and chemicals, as per the commerce ministry’s press release. On the other hand, imports in May rose by 68.54% to $38.53 billion … Read more

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

by

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

Taxes on COVID-19 medicines, oxygen, equipment slashed: Here are the key takeaways from the 44th GST Council Meet

by

Finance Minister Nirmala Sitharaman chaired the 44th GST Council Meeting through a video conference on Saturday, June 12. At the press conference after the meeting, Sitharaman announced that the GoM’s recommendation on slashing rates on certain COVID-19 essentials have been accepted. The new rates will remain in effect till at least September 30, she said. In its … Read more

World’s second-largest kids’ apparel manufacturer Kitex Group withdraws projects worth Rs 3,500 crore in Kerala, alleges witch-hunt by authorities

by

On June 29, Kitex Group, the largest private-sector employer in Kerala, announced the withdrawal of an Rs.3,500 crore investment project from the state. Kitex Group alleged that the state authorities are running a witch-hunt against the company. Notably, Kitex Garments is the second-largest kids’ apparel manufacturer in the world. The company has announced that it is scrapping … Read more

Finance Minister announces relief packages for Covid-affected sectors, chalks out plan to revive tourism sector

by

On June 28, Nirmala Sitharaman, Finance Minister, announced relief packages for Covid-affected sectors. The packages include several sectors, including health, tourism, MSME, agriculture, tourism and others. Reviving tourism Nirmala Sitharaman announced a special package to revive tourism sectors. Under the scheme, financial support has been extended to more than 11,000 registered tourist guides, travel and … Read more

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

by

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

Enforcement Directorate hands over shares worth ₹792 cr to SBI-led-consortium from assets of Vijay Mallya, Nirav Modi, and Mehul Choksi

by

On Friday (July 16), a consortium of banks led by the State Bank of India (SBI) recovered ₹792.11 crores from fugitives and wilful defaulters such as Vijay Mallya, Nirav Modi, and Mehul Choksi. As per reports, the banks sold the shares of the three businessmen that were handed to them by the Enforcement Directorate (ED). The central … Read more

Adani group shuts logistics park in Punjab due to seven-month blockade by farmer protesters, buys land in UP for data centre

by

Adani Logistics Ltd has decided to shut its inland container depot (ICD) at Kilaraipur in Ludhiana after it remained blocked by farmer protesters for seven months. The company took the decision after the Punjab government failed to remove the blockade despite a high court order. This decision has meant that around 400 people will lose their jobs, … Read more

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

by

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