Category: Business & Economics

India’s Asian Paints on Thursday said Ashwin Dani, non-executive director of the paint maker, passed away.   Dani had been associated with Asian Paints since 1968 and played a pivotal role in the company’s journey towards technological excellence.  He was instrumental in introducing India’s first computerized color mixing program, revolutionizing the industry.  Asian Paints expanded its operations globally under the leadership of Ashwin Dani, following which the firm became one of the leading paint companies in the world.  Forbes estimated his family’s net worth to be $7.7 billion, reflecting his…

Meta Platforms Chief Executive Mark Zuckerberg rolled out new AI products for consumers, including bots that create photo-realistic images and smart glasses that answer questions, as well as an updated virtual-reality headset. Zuckerberg described the products as bringing together virtual and real worlds, and underscored that part of what Meta offered was low-cost or free AI that could integrate into the daily routine. Meta’s Quest is the bestseller in the nascent VR space and the company’s executives described it as the best value in the industry, a nod to the…

Edtech major BYJU’s may lay off up to 3,500 employees during the current fiscal as it looks to consolidate teams and enhance regional focus.  According to the sources, the company had ‘over-hired’ people during the Covid pandemic due to a sudden jump in online education but the demand has now receded.  Around 1,000 people were already serving notice periods, and another 1,000 have not completed their performance improvement parameters.  Assessment is still underway. About 3,000-3,500 may be impacted due to the whole exercise,” a source.  With this, the total number…

India, found its first lithium deposits in Jammu and Kashmir with estimated reserves of 5.9 million tonnes.  India’s federally administered region of Jammu and Kashmir will auction its lithium reserves over the next few weeks.  “The auction will happen soon and some overseas miners have shown interest,” the source said.  The source also said that KABIL, a state-owned joint venture formed to scout for minerals overseas, was in the “final stages” of securing a few lithium blocks in Argentina.  India, among the world’s top greenhouse gas emitters, has been pursuing…

Union Minister of Rural Development and Panchayati Raj, Shri Giriraj Singh will address the 2nd National Seminar on “Social Audit of Rural Development Programmes” on 26th September 2023 at Dr. Ambedkar International Centre here. The theme of this National Seminar is “Re-imagining Social Audit with a view to bring transparency and accountability”. Union Minister of States for Rural Development and Steel Shri Faggan Singh Kulaste, Union Minister of State for Rural Development & Consumer Affairs, Food and Public Distribution Sadhvi Niranjan Jyoti and Union Minister of State for Panchayati Raj Shri Kapil Moreshwar Patil,…

In a significant step towards green mobility, Shri Hardeep Singh Puri, Union Minister Petroleum & Natural Gas and Housing and Urban Affairs, will flag off 1st Green Hydrogen Fuel Cell Bus at Kartavya Path in Delhi on September 25, 2023. Green Hydrogen, produced using renewable energy, has the potential to play a key role in such low-carbon and self-reliant economic pathways. Green Hydrogen can enable utilization of domestically abundant renewable energy resources across regions, seasons, and sectors, feeding multiple usage streams, either as a fuel or as an industrial feedstock. It…

Amid a huge diplomatic firestorm between the two countries, the Canada-based associate firm of Indian auto giant Mahindra & Mahindra, Resson Aerospace Corporation, has ceased to exist.  The timing of the move has led to speculations on social media, but the reason isn’t yet clear.   Mahindra & Mahindra hasn’t issued any statement on the same, however, the company said in its regulatory filing.  The Mumbai-based automaker held an 11.18 percent stake in the firm, which had filed for a voluntary winding-up.  “Upon liquidation of Resson, the company is entitled…

Adani Total Gas Ltd., the joint venture of billionaire Gautam Adani’s group and French energy giant Total Energies, has received a work order for a 500-tonne-per-day bio-CNG plant in Ahmedabad.  The bio-CNG plant will be set up at Pirana or Gyaspur in Ahmedabad for a concession period of 20 years.  Adani Total Gas shares closed 1.75% higher at Rs 644.70 in the previous session against Tuesday’s close of Rs 633.60 on BSE.  Adani Total Gas stock has lost 82.50 percent in a year and fallen 82 percent in 2023.  Adani…

While India becoming the fifth largest economy in the world is an ‘impressive achievement,’ there is a need to grow fast to increase the per capita income of the country from the present levels- former Reserve Bank of India Governor C Rangarajan said.  ‘Employment enhancement without growth is not sustainable. That is why we must aim at least at a sustained growth of 7 per cent’-He said.  In 2020, India’s rank with respect to per capita income was 142 out of 197 countries.  if the country achieves a 7% rate…