Under the Union Budget 2023-2024, FM Nirmala Sitharaman announced an Urban Infrastructure development fund to be established in tier-II and tier-III cities, worth Rs 10,000 crore pa. Three AI centres for research and developing cutting-edge solutions announced 50 airports for better connectivity. The GoI announced an investment of Rs 19,700 crore for the National Hydrogen Mission, a Rs 35,000 crore investment for India's goal of net-zero… read-more
Courtesy: Times of India
Magna International is all set to invest USD 120 million (approx. 980 crores) in India, for a new engineering centre in Brigade Tech Garde, Bengaluru. As per sources, the decision was taken after witnessing a massive demand for electric vehicles and the electrification of vehicles in India. Moreover, 1,000 engineers and technical experts by the end of 2023, for operations.
Courtesy: Economic Times
Eknath Shinde-led Maharashtra Government is aiming to fast-track matters to clear a record 630 land proposals spread over 2500 acres for a total investment of over Rs 25,000 crore. The development came after the recent criticism over exit of Vedanta Faxon and PhonePe, from the state. "These proposals are for investments in food processing, IT, electronics, automobile, electric vehicles, textile, chemicals and petrochemicals," said a… read-more
In the trade market, the rupee fell to an all time low by 44 paise to 81.13, against the US dollar, on September 23. With depriciation, at the interbank foreign exchange, the rupee opened at 81.08 against the greenback, then fell further to 81.23. The fall in the currency is a major concern for investors and raised geopolitical risks in the international market.
Vedanta Resources announced an investment of Rs 25,000 crore for the expansion of its aluminium, ferrochrome and mining business in Odisha. The decision to have investment in "Make in Odisha" initiative was made on September 16, after the Vedanta representative met with Odisha CM Naveen Patnaik. Vedanta already has the single largest investment of Rs 80,000 crore in the state and its quantum of investment contributes 4% GDP.
Patanjali Yogpeeth announced to make investments of more than Rs 1,000 crore in Uttarakhand. The investment will improve public health in the state and promote its rich culture, said the trust on September 14.
Making the announcement in Gangotri, Patanjali Yogpeeth founder Baba Ramdev said he will work towards making Uttarakhand the spiritual and cultural capital of the world. Moreover, Uttarakhand CM Pushkar Singh Dhami welcomed the… read-more
Courtesy: Press Trust of India
The US International Development Finance Corporation (DFC) recently announced to invest $37.5 million (Rs 299 crorea) to support key sectors in India. The investment is expected to fuel the growth of businesses working in sectors like financial services, agriculture, healthcare, and climate. The company announced the investment in their current FY Quarter, as a form of political risk insurance product and financial instrument for various… read-more
Courtesy: First Post
Bollywood actress Jacqueline Fernandez denied her alleged involvement with rumour boyfriend and conman Sukesh Chandrashekhar in a Rs 200 crore money scam. After being questioned by the Enforcement Directorate under the Prevention of Money Laundering Act case, Fernandez revealed that her investments were through her fix depositing from hard-earned money. Notably, ED attached assets of the actress in the case. Earlier, on August 24, actress was… read-more
Employee financial benefit startup Jify has raised over $10 million investment, said the company on August 3. Accel and Nexus Ventures provide funding to the startup company of joint partners Anisha Dossa Aibara, Anusha Ramakrishnan and Aditya Mehta. Started in 2021, the company provides salary benefits like on-demand real time salary at zero cost. In addition, the company owners said, the investment will be used to strengthen production and… read-more
Courtesy: The Economic Times
Founded by Jhunjhunwala and Nikhil Naik, the ed-tech start-up raised $7.5 million in Series A funding. The CEO said, they will use the investment to scale up and accelerate hiring across the teams in multiple geographies. Furthermore, it was recently listed by HolonIQ on its annual list of the 100 most promising EdTech start-ups from India & South Asia. The company will also enhance education for students with new investments.
Courtesy: Business Insider