Apple wants India to account for up to 25 per cent of its output, up from 5 per cent-7 per cent, according to the commerce minister, as the iPhone manufacturer continues to shift production away from China. Piyush Goyal touted India as a competitive manufacturing site, citing Apple as another success example. Apple already manufactures […]
Amazon has launched Amazon Air, its dedicated air freight fleet, in India, as the e-commerce giant expands its logistics infrastructure in the important international market, where it has invested more than USD 6.5 billion. The store has teamed with Bengaluru-based cargo aircraft Quikjet to start its first air freight service in the nation, which the […]
Salzer Electronics, a capital goods engineering company offering total and customised electrical solutions has commenced a new manufacturing facility at Hosur, Tamil Nadu at an initial investment cost of Rs 15 crore in order to expand the capacity of high demand products like Wire Harness and Toroidal Transformers initially, the company said in its regulatory […]
Meghmani Organics announced commissioning of Phase 1 of Titanium Dioxide (TiO2) plant at Dahej, Gujarat with an installed capacity of 16,500 metric tonnes per annum (MTPA), as per the company’s regulatory filing. Meghmani paid an upfront payment of Rs. 132 crore to buy Kilburn Chemicals in December 2021. Following that, the business invested total expenditure […]
UltraTech Cement, reported a 38 per cent drop in quarterly earnings on Saturday, owing to an increase in expenditures. Profit for the three months ended December decreased to Rs 1,062 crore (USD 131.2 million) from Rs 1,710 crore the previous year, according to an exchange report by UltraTech. Consolidated revenue from operations was 15,520.93 crore […]
Reliance retail on friday reported a 6.2 per cent Year-on-year (YoY) rise in its profit at Rs 2,400 crore compared to Rs 2,259 crore in the same quarter last year. Its revenue from operations grew by 18.6 per cent YoY to Rs 60,096 crore. In the previous year it had posted a revenue of Rs […]
Union Minister of Commerce and Industry Piyush Goyal has asked the footwear industry to focus on quality and reduce import dependence to capture a larger share in the international market. The Minister emphasised that Quality Control Orders (QCO) for leather and non-leather footwear would be implemented with effect from July 1, 2023. He was addressing […]
Dodla Dairy’s net profit increased 31.76 per cent to Rs 35.39 crore in the quarter ended December 2022, from Rs 26.86 crore in the preceding quarter ended December 2021, as per the company’s regulatory filing. In the quarter gone by, sales increased 17.43 per cent to Rs 675.43 crore, up from Rs 575.19 crore in […]
Under the Export Promotion Capital Goods (EPCG) plan, the government has announced a one-time relief from maintaining average export obligations as well as the opportunity to prolong the export obligation duration for selected industries. The hotel, hospital, and educational industries are also eligible for this benefit. These industries will not be obliged to maintain average […]
Amazon Web Services (Asia Pacific Region-Hyderabad) said on Friday that it will boost its investment from Rs 20,096 crore (USD 2.7 billion) in 2020 to Rs 36,300 crore (USD 4.4 billion) by 2030, making it one of the largest FDIs into Telangana. This declaration comes after Microsoft, the world’s largest IT company, revealed plans to […]
