Adani’s USD 1.2 Bn Copper Plant to Boost India’s Metal Production
India is set to witness a surge in its domestic copper production as the Adani Group is building the world’s largest single-location copper manufacturing plant at Mundra in Gujarat. The plant will help reduce India’s dependence on imports and support the country’s energy transition. Why is copper important for India? Copper is the third most […]
SpiceJet to Connect More Tourist Places Post Ayodhya
SpiceJet, one of India’s leading low-cost airlines, has announced its plans to connect more tourist and religious places in the country, following the launch of its flights to Ayodhya, the holy city of Lord Rama. Ayodhya flights On February 1, 2024, SpiceJet inaugurated its direct flight service connecting Ayodhya with eight cities: Delhi, Chennai, Ahmedabad, […]
IKEA’s Next Investment Phase in India
IKEA, the Swedish furniture retailer, is looking at the next round of investment in India after fulfilling its commitment of Rs 10,500 crore when it entered the country 10 years back, according to the company’s India CEO Susanne Pulverer. The company, which kicked off its retail operations in India with the opening of its first […]
HP Govt and NDDB Collaborate for Kangra Milk Plant
The Himachal Pradesh government has announced its collaboration with the National Dairy Development Board (NDDB) to set up a state-of-the-art milk processing plant at Dagwar in Kangra district. The project, which is estimated to cost around Rs 250 crore, aims to enhance the milk processing capabilities and marketing opportunities for the dairy farmers of the […]
IBBI’s New Rule: Same RP for Company and Guarantor
The Insolvency and Bankruptcy Board of India (IBBI) has revised its regulations to allow the same resolution professional (RP) to handle the insolvency process of a company and its personal guarantor. This amendment aims to enhance harmonisation and improve coordination between the two processes. Why this change? The IBBI introduced the Bankruptcy Process for Personal […]
SIAC Dismisses Sony’s Petition Against Zee
The Singapore International Arbitration Centre (SIAC) has rejected the emergency arbitration petition filed by Sony Group against Zee Entertainment Enterprises over their failed merger, citing lack of jurisdiction. The petition was filed after Sony terminated the merger agreement that would have created a $10 billion entertainment giant in India. Background of the merger Sony Pictures […]
2025 Forecast: 50,000 Less Central Govt Workers
The central government workforce, excluding the central public sector enterprises (CPSEs), is projected to decline by nearly 50,000 employees by March 2025, according to the latest Interim Budget documents. The overall expenditure on pay and allowances, however, is expected to increase by 6.9 per cent to Rs 3.2 trillion in the financial year 2024-25. Reasons […]
Tata Steel Pledges GBP 130-mn for UK Steel Workers
Tata Steel, the largest steel producer in the UK, has pledged to invest GBP 130 million in a fund to support its workers who will be affected by the restructuring of its operations in Port Talbot, Wales. The fund is part of a deal with the UK government, which will provide up to GBP 500 […]
Why Did RBI Ban Paytm Payments Bank? An Analysis
Paytm Payments Bank, a subsidiary of One 97 Communications Limited, has been barred by the Reserve Bank of India (RBI) from accepting deposits or top-ups to its accounts and services due to “persistent non-compliance and continued material supervisory concerns in the bank”. The ban will be effective from February 29, 2024 and will also prevent […]
GST Update: Rs 1 Lakh Penalty for Tobacco Makers
The government has announced a new measure to curb tax evasion in the tobacco industry. From April 1, 2024, manufacturers of pan masala, gutka and similar tobacco products will have to pay a penalty of up to Rs 1 lakh if they do not register their packing machines with the Goods and Services Tax (GST) […]