Expect capex for EV components to cross Rs 25,000 cr in next 3-4 years: ICRA
There has been substantial localisation in traction motors, control units, and battery management systems over the years, Icra said.
There has been substantial localisation in traction motors, control units, and battery management systems over the years, Icra said.
Reliance Industries has secured the top position in the India Involved Ranking 2023, which assesses the commitment of Indian corporations to Viksit Bharat. Compiled by Skoch, the ranking and index result from a meticulous six-month study. The evaluation involved analyzing numerous companies across 231 indicators to determine the top 20 corporates in the comprehensive 'India Involved Ranking'.
Union Finance Minister Nirmala Sitharaman on Monday said reverse migration had started as a lot of people are coming back to establish business here. According to her, reverse migration has started in which a lot of people, who have a global footprint, are finding businesses, professions and careers to be built in India.
Sanjay Mashruwala, 76, resigns as managing director at Reliance Jio on June 9. Pankaj Mohan Pawar continues. Board appreciates his contributions to the company's transformative journey since 2013.
The Reserve Bank has imposed penalties totalling Rs 60.3 lakh on five co-operative banks for contravention of various regulatory norms.
AIGF's Roland Landers urges swift action against offshore illegal betting, causing a USD 2.5 billion annual loss. Concerns include user harm, lack of GST, IPL ads. Urges prompt SRO implementation for distinguishing legitimate platforms.
"These include further deleveraging (parent) Vedanta Resources by USD 3 billion in the next 3 years and achieving an annual group EBITDA of USD 7.5 billion within 2 years," he said.
According to the PHDCCI, India's economy is projected to expand by 8-8.3 percent in the current fiscal year. Furthermore, the country's GDP is expected to achieve an average growth rate of 6.7 percent over the next 23 years, resulting in India becoming a USD 34.7 trillion economy by 2047, accompanied by a per capita income of USD 21,000.
"India's job market is experiencing a transformation as the country has become the world's fastest growing large economy in the aftermath of the Covid-19 pandemic," the report said.
The group plans to increase the operating capacity of its power business in India to 4.8 GW by FY27, sources with knowledge of the matter said. The latest financing follows Vedanta group's takeover of Meenakshi Energy Ltd on December 28 in an NCLT-driven insolvency process.
The government is considering several measures such as a flexible framework for the sale of products manufactured in SEZs in the domestic market, and streamlining approval processes for units.