Salesforce to increase India headcount to 10,000 by January next year: CEO
SAN FRANCISCO: Salesforce India will increase its headcount in the country to 10,000 by January next year from 7,500-plus currently, its chairperson and CEO Arundhati Bhattacharya has said. Bhattacharya further said that in the order of priority, the focus areas for Salesforce in India are banking, financial services and insurance (BFSI), manufacturing, services and social […]
Russia backs India, Brazil for permanent membership in UN Security Council
UNITED NATIONS: Russia has voiced its support for India and Brazil as worthy candidates for permanent membership in the UN Security Council, calling them key international actors. During the 77th Session of the UN General Assembly, Russian Foreign Minister Sergey Lavrov on Saturday expressed his support for India, becoming a permanent member of the Security […]
India’s Defence Ministry signs contract worth Rs 1700 crore to acquire additional Brahmos missiles
NEW DELHI: In a further impetus to self-reliance in defence production, the Defence Ministry on Thursday signed a contract with BrahMos Aerospace for acquisition of additional dual-role capable surface-to-surface BrahMos missiles at an approximate cost of Rs 1,700 crore under ‘Buy-Indian’ category. In a statement, the ministry said the induction of these dual-role capable missiles […]
India-UK FTA first step in evolving trade, economic ties: UK official
NEW YORK: Prime Minister Narendra Modi has set a very ambitious desire to get the India-UK Free Trade Agreement (FTA) signed by Diwali and his new British counterpart Liz Truss wants her administration to “match the pace and ambition” of the Indian leader, UK Foreign Secretary James Cleverly has said. Cleverly also said that the […]
US lawmakers call for strong ties with India, hail Indian-Americans’ help
WASHINGTON: Top Senators and influential Congressmen have advocated for a strong India-US tie and underscored the contribution of the Indian-American community in this matter. At the Indian Independence Day celebrations event at the US Capitol on Wednesday, Senator Joe Manchin, a West Virginia Democrat, recalled his visits to India and seeing “the greatness of the […]
After Amazon, Apollo Global wades into India’s corporate governance jungle
NEW DELHI: After Amazon.com Inc., it’s the turn of Apollo Global Management Inc. to wade into the jungle that’s corporate governance in India. It has sued a Mumbai-based warehousing firm in which it owns a large stake. The cause of the dispute vanished on Monday when the company dropped a controversial plan to sell its […]
India would be $25 trillion economy in 25 years: NaBFID Chairman K V Kamath
NEW DELHI: India is expected to be a USD 25-trillion economy in 25 years, veteran banker and chairman of National Bank for Financing Infrastructure and Development K V Kamath said on Tuesday. NaBFID was set up by the government last year to support the development of long-term infrastructure financing in the country. Kamath also said […]
OneWeb’s 36 satellites arrive in India ahead of planned launch
NEW DELHI: OneWeb, the low Earth orbit (LEO) satellite communications company, today announced the arrival of 36 satellites at the Satish Dhawan Space Centre (SDSC- SHAR) in advance of a planned launch from Sriharikota, India. With this launch, OneWeb will have over 70% of its planned Gen 1 LEO constellation in orbit as it progresses […]
India begins sale of erstwhile national carrier Air India’s 2 subsidiaries
NEW DELHI: The government of India has initiated the process of privatising 2 subsidiaries AIASL and AIESL of erstwhile national carrier Air India, an official said. The Department of Investment and Public Asset Management (DIPAM) has initiated investor meetings and roadshows to gauge interest in AIASL and AIESL. We will soon invite EoIs from interested […]
India receives 75 applications under PLI scheme for specialty steel
NEW DELHI: The government of India has received around 75 applications from domestic players under the PLI Scheme for specialty steel, according to an official. Applicants include all major steel players like Tata Steel, JSW Steel, JSPL, AMNS India and SAIL, a senior steel ministry official said. “A significant number of applications have been received. […]
Adani becomes India’s second-largest cement player after Ambuja, ACC deal
NEW DELHI: The Adani Family, through Endeavour Trade and Investment Ltd (“BidCo”), a special purpose vehicle, has successfully completed the acquisition of Ambuja Cements Ltd and ACC Ltd. The transaction involved the acquisition of Holcim’s stake in Ambuja and ACC along with an open offer in both entities as per SEBI Regulations. The value of […]
Many countries interested in bilateral rupee trade: India
NEW DELHI: Finance Minister Nirmala Sitharaman on Tuesday said many countries have evinced interest for bilateral trade in the rupee after the RBI announced a mechanism recently. Speaking at Hero Mindmine Summit, she said this along with other steps taken by the government is towards full capital account convertibility. “It isn’t the ruble-rupee which was […]
Oil prices at 7-month low, but no change in petrol, diesel prices in India
NEW DELHI: International oil prices have hit a seven-month low but there is no change in retail selling price of petrol and diesel in India as state-owned fuel retailers recoup losses incurred for holding rates for a record five months despite rising cost. International benchmark Brent crude fell below USD 90 per barrel last week […]
India not part of IPEF’s trade pillar; to decide in national interest
LOS ANGELES: India has not yet agreed to the commitments of the trade pillar of the 14-member Indo-Pacific Economic Framework (IPEF) and will wait for further clarity on the issue, a top official said on Friday. Commerce and industry minister Piyush Goyal attended the first in-person ministerial meeting of the two-day IPEF, which concluded here. […]
India’s GDP grew at 13.5% in Q1 FY23
NEW DELHI: India’s economy grew by 13.5% in the April-June period this fiscal — the fastest in the last four quarters — on account of better performance by the agriculture and services sectors, official data showed on Wednesday. India remained the fastest growing major economy as China registered economic growth of 0.4% in the April-June […]
India to build more green expressways
NEW DELHI: The government of India will be building 26 green expressways in the country in the next three years and India’s road infrastructure will be as good as that in the United States by 2024, Transport minister Nitin Gadkari told Rajya Sabha. Replying to supplementaries during the Question Hour, the minister said there is […]