India approves procurement of military equipment, platforms worth Rs 76,390

NEW DELHI: In a significant move to boost self-reliance in defence manufacturing, the government of India on Monday approved the procurement of military equipment and platforms worth Rs 76,390 crore from domestic industries to enhance India’s overall combat capabilities. The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, cleared the procurement of next-generation […]

Eastern Railway achieves 100% electrification of 2,848 km network

NEW DELHI: The Eastern Railway has achieved 100 per cent electrification of its 2,848 km network with the completion of work in the 41 km Hansdiha-Godda section, an official said here on Friday. The total electrification will help reduce carbon emission significantly and support the Indian Railway in achieving its target of making the country’s […]

Aditya Birla Fashion raising Rs 2195 crore of primary capital from GIC

NEW DELHI: The board of Aditya Birla Fashion and Retail Limited (“ABFRL”) in its meeting today approved raising of up to Rs.2,195 crore by way of preferential issuance of equity and warrants to an affiliate of GIC, Singapore’s sovereign wealth fund (“GIC”). GIC will invest Rs. 770 crore now towards subscription of equity and warrants, […]

Revised DPR for Noida Metro extension sent for Modi government’s nod: UP Minister

NEW DELHI: The Uttar Pradesh government has sent the revised detailed project report (DPR) for the Aqua Line metro’s extension to the Centre (Narendra Modi government) for its approval, the state’s industries minister Nand Gopal Gupta ‘Nandi’ said on Tuesday. The new metro line extension is proposed to connect Noida and Greater Noida (West) also […]

No tax on $6.38 billion transaction with Adani Group, says Holcim CEO

NEW DELHI: Swiss building material major Holcim said its USD 6.38 billion deal with Asia’s richest man Gautam Adani’s group is tax-free. Holcim had on Sunday signed a binding agreement with the Adani Group to sell its business in India — about a 63 per cent stake in Ambuja Cement, which owns a 54.53 stake […]

Commerce ministry to hold inter-ministerial consultations on May 18

NEW DELHI: The commerce ministry has convened an inter-ministerial meeting on May 18 to hold consultations on issues that are likely to figure prominently in the forthcoming meeting of the highest decision-making body of the World Trade Organisation (WTO) in Geneva next month, an official said. The 12th ministerial conference of the WTO is scheduled […]

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