Category: Business & Economics

Aspire Startup Program Showcases over 900 Startups; Facilitates 500 Investor Meetings, 100+ Mentoring Sessions at IMC 2024

Manish Kumar

Propels Tech & Telecom Innovation across sectors such as 5G applications, AI, Deep Tech, Green Tech and Smart Mobility Witnesses launch of STPI LEAP AHEAD 2.0 program for mentorship and funding up to Rs 1 crore New Delhi, 18th October 2024 – The India Mobile Congress (IMC) 2024, Asia’s largest telecom, media and technology forum, being held at Pragati Maidan from October 15-18, set the stage for a transformative future, featuring over 900 startups under its flagship startup program, Aspire, aimed at driving innovation across diverse sectors. Aspire, IMC’s flagship startup program provided…

Kotak Mahindra Bank to Acquire Standard Chartered’s $488 Million Personal Loan Portfolio: Strategic Move in India’s Expanding Loan Market

Manish Kumar

Kotak Mahindra Bank has announced its decision to acquire the personal loan portfolio of Standard Chartered Bank in India, a move that highlights Kotak’s aim to strengthen its position in the country’s highly competitive personal loan sector. The acquisition, valued at $488 million (Rs 41 billion), reflects both banks’ strategic shifts as they focus on different market segments in India. Kotak Mahindra Bank and India’s Personal Loan Sector Kotak Mahindra Bank, one of India’s leading financial institutions, is known for its diversified banking services, ranging from retail loans to wealth…

India’s Path to Becoming the World’s Third-Largest Economy by 2030: Opportunities and Challenges

Manish Kumar

India is on a rapid trajectory toward becoming the world’s third-largest economy by 2030, according to a recent report from S&P Global. With its expanding middle class, robust economic growth, and burgeoning industrial sectors, India is set to surpass major economies, trailing only the United States and China. However, alongside these promising developments, the country faces critical challenges, particularly from its growing population, which threatens to strain its infrastructure and resources. India’s Economic Surge: A Global Shift According to S&P Global, India is well-positioned to become the fastest-growing major economy…

Akash Ambani Calls for Indigenous AI Development and Data Sovereignty in India

Manish Kumar

Emphasizing the Future of AI in India Speaking at the India Mobile Congress 2024 in New Delhi, Reliance Jio Infocomm Chairman Akash M. Ambani called for the urgent development of indigenous artificial intelligence (AI) capabilities in India. Highlighting AI as “the most revolutionary tool of transformation invented by the human mind,” Ambani stressed the need for a robust national AI infrastructure that will revolutionize sectors such as manufacturing, agriculture, healthcare, and education. “AI will disruptively transform every aspect of our lives, society, and economy,” said Ambani. He projected AI to…

Adani’s Rs 3,700 Crore Project in Jeopardy as Sri Lanka Reconsiders Approval

Manish Kumar

Sword hanging over Adani’s Rs 3700 crore project, Sri Lanka said – will think again for approval Sword seems to be hanging over a project of Gautam Adani to be started in Sri Lanka. This project of 440 million dollars (about Rs 3700 crore) is related to wind power. The new administration of Sri Lanka has said that it will think again about this project and then take a decision. Earlier, the interim government of Bangladesh has also given a blow to the Adani Group. Recently Anura Kumara Disanayake has…

Hyundai India Launches Historic $3.3 Billion IPO: India’s Largest Share Sale Ever

Manish Kumar

Marking a New Chapter in Hyundai’s Journey in India, IPO Aims to Strengthen Market Position   Hyundai’s Journey in India Hyundai’s presence in India has been nothing short of transformative. Since its entry into the Indian market in 1996, Hyundai has steadily grown to become the country’s second-largest automaker, shaping the Indian automobile landscape with popular models like the Santro, Creta, and Venue. Competing closely with market leader Maruti Suzuki, Hyundai has been a key player in the shift toward modern, feature-packed cars, while maintaining a strong focus on quality…

Boeing to Lay Off 17,000 Workers, Posts $5 Billion Loss Amid Strike

Manish Kumar

Aerospace giant announces significant layoffs and a major financial loss following a prolonged labor dispute. The company faced disruptions in production and escalating operational costs due to labor strikes, which impacted their ability to meet contractual deadlines. An aerospace giant has announced that it will lay off 10% of its global workforce and delay the first deliveries of its 777X jet by a year. This decision comes as the company faces $5 billion in losses for the third quarter, largely due to the impact of a month-long strike by 33,000 U.S.…

Ratan Tata’s Vision for Health: The Journey of Tata Salt to Every Indian Home

Manish Kumar

Ratan Tata, who recently passed away, transformed the Tata brand into a household staple in India through his commitment to health, exemplified by the launch of iodized salt and popular Tata Tea, significantly impacting millions’ daily lives. India has lost a remarkable gem today with the passing of Ratan Tata, the man who transformed the Tata brand into a household name. From salt and tea to cars and aeroplanes, as well as sewing needles and heavy trucks, Tata’s influence can be seen in every corner of the nation. Ratan Tata…

Gautam Adani: India’s Wealth Champion in Forbes 2024 Rich List

Manish Kumar

Adani Group Soars to New Heights Gautam Adani, chairman of the Adani Group, has emerged as the biggest dollar gainer in Forbes India’s 2024 list of the 100 richest individuals, with his family’s net worth skyrocketing to $116 billion. Alongside his brother Vinod Adani, Gautam saw his wealth increase by a staggering $48 billion, catapulting him to the second position on the list. This 71% rise in his fortune is attributed to a strong recovery from last year’s setbacks, including a short-selling attack that had initially cast a shadow over…

Ratan Tata’s Masterstroke: Turning Bill Ford’s Insult into Triumph with Jaguar-Land Rover Acquisition

Manish Kumar

Veteran industrialist Ratan Tata’s meeting with Ford chairman Bill Ford in the USA in 1999 turned out to be a significant juncture in his career as he, nine years later, acquired Jaguar Land Rover. Ratan Tata (Ratan Naval Tata), the former Tata Group chairman and iconic industrialist died at south Mumbai’s Breach Candy Hospital at 11.30 pm on Wednesday. He was 86. The Padma Vibhushan recipient has been in intensive care at the hospital since Monday. He will be remembered for his contribution to the industry. He revolutionalised several sector…