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India’s knitwear capital Tiruppur takes on apparel leaders China, Bangladesh

India’s knitwear capital Tiruppur takes on apparel leaders China, Bangladesh

Mumbai/Chennai: Indian clothes maker T.R. Vijaya Kumar thinks it’s time for his country to take on Bangladesh, Vietnam and even China for leadership in the global apparel industry. He’s a second-generation manufacturer, who’s transformed his small family undershirt business in southern India into an apparel exporter of 1,700 employees and aims to double its sales by […]

Brexit bites Tata Motors as Q1 profit halves on forex loss

Brexit bites Tata Motors as Q1 profit halves on forex loss

MUMBAI: Tata Motors Ltd’s consolidated net profit more than halved in the quarter ended 30 June as a foreign exchange loss stemming from the UK’s vote to exit the European Union and higher costs took their toll on India’s largest automaker by revenue. Consolidated net profit in the quarter fell to Rs.2,260.40 crore from Rs.5,254.23 crore a year […]

Bilateral trade reached USD 109 billion, GST to boost it further: US to India

Bilateral trade reached USD 109 billion, GST to boost it further: US to India

Bullish on expanding economic ties with India, the US on Sunday said bilateral trade has reached USD 109 billion and it will get a further boost from new reforms including GST even as it flagged persisting concerns American firms have on issues related to business climate in the fast-growing economy. US Commerce Secretary Penny Pritzker, […]

Sahara chief offers in SC to pay Rs 300 crore as bank gurantee

Sahara chief offers in SC to pay Rs 300 crore as bank gurantee

NEW DELHI: Sahara chief Subrata Roy on Friday offered in Supreme Court to pay an additional Rs 300 crore to Security and Exchange Board of India (SEBI) but said the amount should be adjusted as bank guarantee. A bench headed by Chief Justice T S Thakur directed that the matter be listed next week after […]

India is world’s third biggest tech start-up hub: Study

India is world’s third biggest tech start-up hub: Study

NEW DELHI:  India is home to the third largest number of technology-driven start-ups in the world, with the US and the UK occupying the top two positions, according to a report. The study, done by Assocham in association with Thought Arbitrage Research Institute, also revealed that Bengaluru is host to the largest share of technology start-ups […]

Gail India to partner US firm for new gas power generation technology

Gail India to partner US firm for new gas power generation technology

NEW DELHI: State-owned Gail (India) Ltd said on Saturday it will tie up with California-based closely-held firm Bloom Energy Corp. on Monday to pursue natural gas-based fuel cell power generation, a new technology. Gail said an agreement will be signed with the company in the presence of oil minister Dharmendra Pradhan, Gail chairman and managing director […]

India to have 730 million internet users by 2020, says report

India to have 730 million internet users by 2020, says report

NEW DELHI:  India is expected to have 730 million internet users by 2020, with 75% of new user growth expected to come from rural areas, according to a report released on Wednesday by Nasscom and Akamai Technologies. The growth is expected to be led by e-commerce, travel and hospitality, finance technology and media sectors. While India […]

GST bill a historic landmark but formidable challenges lie ahead

GST bill a historic landmark but formidable challenges lie ahead

Both politically and economically, passage of the goods and services tax (GST) bill was a major landmark. But the path from the bill to the implementation of GST is fraught with many challenges. Getting here has taken us 10 years since P. Chidambaram, as finance minister, announced a 2010 target for introducing a GST in […]

India, Dubai to expand air traffic due to higher demand

India, Dubai to expand air traffic due to higher demand

The Union Civil Aviation Ministry has received a fresh request from the Dubai Civil Aviation Authority (DCAA) to increase the entitlements as airlines of both the countries have exhausted the current flying capacity. The move will enable passengers with more options to fly to the most populous city in the United Arab Emirates. Countries sign […]

Will foreign airlines fly into India?

Will foreign airlines fly into India?

The move to allow foreign-owned airlines in India has opened up the country’s aviation market to multiple possibilities, but has also thrown up a new set of challenges. In theory, the relaxation makes it possible for a low-cost airline giant like Ryanair to start an Indian subsidiary together with a foreign fund, a Qatar Airways […]

Uber to increase headcount to 500 by year-end at Hyderabad facility

Uber to increase headcount to 500 by year-end at Hyderabad facility

Hyderabad: Online taxi aggregator Uber will hire over 150 people over the next few months to ramp up its customer support operations in India as part of its efforts to enhance driver and rider experience on its platform. Uber, which counts India as its third largest market in terms of number of trips after the US […]

Taco Bell plans to open three more outlets in India

Taco Bell plans to open three more outlets in India

New Delhi: Fast food chain Taco Bell is embarking on an expansion drive in India and plans to open outlets in up to 12 cities in the next four years. Owned by the US-based Yum! Brands Inc., Taco Bell specialises in Mexican fast food. At present it operates nine stores in three cities and plans to […]

The cookie crumbles: Mumbai’s iconic Parle G factory shuts shop after 87 years

The cookie crumbles: Mumbai’s iconic Parle G factory shuts shop after 87 years

After Parle confirmed that its Parle biscuit factory, which has not been functioning for some time, will be shut forever, residents said they will miss the sweet smell of baking that would envelope the area when the factory fired its ovens. Vile Parle residents said that as the family which own the biscuit company had […]

Railways plans Rs7,000 crore investment in north-east India

Railways plans Rs7,000 crore investment in north-east India

New Delhi: Railway minister Suresh Prabhu on Sunday flagged off Tripura Sundari Express, the first passenger train that will connect Agartala with New Delhi. The train will run once a week with a journey time of 47 hours. The railways will invest more than Rs.7,000 crore in the current fiscal year to develop its network in the […]

India achieved in two years what China didn’t in decade

India achieved in two years what China didn’t in decade

TAIPEI: Forgive the Chinese if they start feeling a certain amount of OS envy. For more than 15 years, China has unsuccessfully attempted to come up with a homegrown operating system that would be loved by the masses and allow the country to be freed from the shackles of Western technological imperialism. India has achieved that […]

Rupee closes at 67.04 per US dollar

Rupee closes at 67.04 per US dollar

MUMBAI: The Indian rupee on Thursday strengthened for the third session in a row to hit a two-week high against the US dollar, tracking gains in the local equity markets over optimism that the government may pass the goods and services tax bill in the current parliament session. The home currency closed at 67.04—a level last […]

Boeing to deliver two Dreamliners to Air India this year: Dinesh Keskar

Boeing to deliver two Dreamliners to Air India this year: Dinesh Keskar

NEW DELHI: US aircraft maker Boeing Co. will deliver two Dreamliners to Air India (AI) this year and four more next year to complete the airline’s order of 27 of these aircraft, even as the national carrier grapples with glitches in its fleet of 787-8 planes. Once described as a “game changer,” AI was one of […]

Kia Motors expected to pick site for first India plant next month: report

Kia Motors expected to pick site for first India plant next month: report

Seoul/New Delhi: South Korea’s Kia Motors Corp is expected to pick a site next month for its first factory in India, stepping up plans to start making cars in one of the world’s fast-growing auto markets, two people familiar with the matter said. The move would enable Kia to leverage the existing supplier base of its […]

RIL, BP spend Rs 4,500 crore to maintain gas output at KG-D6

RIL, BP spend Rs 4,500 crore to maintain gas output at KG-D6

Reliance Industries and its partner BP of UK have invested over Rs 4,500 crore in the flagging eastern offshore KG-D6 block to maintain gas output at current level despite the steep natural decline that has set in the seven-year old fields. RIL-BP are currently producing from Dhirubhai-1 and 3 gas field and MA oil and gas field, three of the […]

Nitin Gadkari again woos Tesla to invest in India

Nitin Gadkari again woos Tesla to invest in India

New Delhi: Transport minister Nitin Gadkari who is on a visit to US has offered American automotive company Tesla various sops including land parcel to form joint ventures with Indian automobile companies to intorduce pollution free road transportation in India. In a press statement, the transport ministry said that Gadkari along with transport ministry officials visited […]