Sumitomo Mitsubishi Bank approved for GIFT City branch
Japan’s leading financial powerhouse, Sumitomo Mitsubishi Banking Corp (SMBC), has secured approval to establish a branch within Gujarat International Finance Tec-City (GIFT City) situated in Gandhinagar.expand_more This strategic move signifies SMBC’s commitment to propelling Japanese investment into the dynamic Indian market. According to the Indian government, Japanese FDI into India has surpassed $30 billion since […]
NTPC Secures JBIC Loan for $200M Renewable Projects
State-owned power giant NTPC has ignited its renewable energy ambitions with a strategic $200 million loan agreement from the Japan Bank for International Cooperation (JBIC). This financing marks a substantial leap forward in NTPC’s diversification plans, transitioning from its traditional reliance on coal-fired power generation. The loan is expected to propel NTPC’s renewable energy project […]
Amul Expands: Fresh Milk Launch in US
Amul, a cornerstone of Indian kitchens and a cultural icon recognized for its delectable dairy products and quirky advertisements, has embarked on a significant journey towards global expansion. In a historic first, the Gujarat Cooperative Milk Marketing Federation (GCMMF), the force behind the Amul brand, is launching its fresh milk products in the United States. […]
NBCC (India) Secures $30M Saudi Project via MEA
NBCC Wins Prestigious $30 Million Saudi Arabia Construction Contract Indian construction giant NBCC (India) Ltd. has secured a prestigious project in Saudi Arabia, marking a significant milestone in their International Construction Projects strategy. The company was awarded a hefty $30 million (approximately Rs 249 crore) contract by the Kingdom’s Ministry of Education (MEA), showcasing NBCC’s […]
Insurance Sector Sees Rs 54,000 Cr FDI Surge in 9 Years
The Indian insurance sector has transformed into a powerhouse, driven by a tidal wave of foreign direct investment (FDI). Over the past nine years (December 2014 – January 2024), the sector has garnered a staggering Rs 54,000 crore in FDI, according to Financial Services Secretary Vivek Joshi. This impressive investment surge coincides with a remarkable […]
BPCL, BP Sign 4-Month US Oil Purchase Agreement
India’s state-owned Bharat Petroleum Corporation Limited (BPCL) has signed a significant agreement with British multinational oil and gas giant BP. The deal entails the purchase of 1 million barrels of US West Texas Intermediate (WTI) crude oil per month, for a four-month period starting from June 2024. This translates to a total import of 4 […]
Reliance, Elephant House Partner to Expand Beverage in India
Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Retail Ventures Limited (RRVL), has struck a strategic partnership with Sri Lanka’s iconic beverage brand, Elephant House. This collaboration aims to introduce, manufacture, market, and distribute Elephant House beverages across the vast Indian market. Expanding Beverage Portfolio and Challenging Dominance The partnership with Elephant House […]
FPIs’ March Investments: Rs 50,000 Cr in Equity, Debt
Foreign Portfolio Investors (FPIs) have exhibited sustained optimism in the Indian economy by injecting a net investment of Rs 50,493 crore ($6.3 billion) into the Indian stock and debt markets during March 2024. This positive stance comes in the face of significant volatility that roiled the stock market throughout the month. Data gleaned from the […]
Govt’s E-Vehicle Policy: Minimum $500M Investment Decided
India’s electric vehicle (EV) dream charges forward with the government’s recently unveiled policy. This strategic initiative aims to propel the nation into the fast lane of global EV manufacturing by attracting established industry giants. A Selective Invitation: High Investment Bar A central pillar of the policy is the significant minimum investment requirement of $500 million […]
Numaligarh Refinery Launches Bangladesh Office
Numaligarh Refinery Limited (NRL) has taken a strategic leap forward in solidifying its position as a dominant regional fuel supplier. The company recently inaugurated its first overseas office in Dhaka, Bangladesh, marking a new chapter in India-Bangladesh energy cooperation. This move comes on the heels of the successful completion of the India-Bangladesh Friendship Pipeline Project, […]