A consortium of investors led by SpiceJet co-founder Ajay Singh is likely to invest $217 million (Rs 1,378 crore) to pick a substantial stake in the embattled airline, sources told HT.
The government is considering a proposal to regulate domestic fares so airlines cannot charge passengers more than Rs.
20,000 for a one-way economy class ticket.
The Cabinet on Wednesday approved key reforms in the coal and insurance sectors, auction of coal blocks and a hike in insurance FDI to 49% from the current 26%, which were stuck in Parliament logjam.
In an exclusive interview to HT
in his office, Rakesh Jhunjhunwala opens up about his reading habits, on how India’s growth could touch double digits and why people should be confident about investing and not afraid to make mistakes.
Ahead of President Barack Obama’s visit next month, India is working overtime to iron out irritants in investment commitments worth nearly Rs.
20,000 crore from US-based companies ranging across automobile, defence, railways and information technology among others.
The government has made it easier for foreigners to fully own medical device-making plants in India, a move that could eventually make several products such as cardiac pacemakers, stents and surgical instruments cheaper.
Mobile handsets costs could come down, if the government decides to accept a few from the slew of recommendations made by the Indian Cellular Association (ICA) — the apex body representing the country’s mobile handset makers.
Unable to extract a good response from the industry, the government is soon going to infuse new life into the National Manufacturing Policy by reducing the minimum land size required for setting up a manufacturing zones.
The benchmark BSE Sensex retreated from record high to trade 44 points lower in early trade on Monday on emergence of profit-booking, mainly in healthcare, IT, banking, capital goods and oil and gas sector stocks amid weak Asian cues.
Month-end dollar demand from oil companies and persisting selling by foreign funds in stocks dragged the rupee down by 23 paise to 63.51 at close against the US currency on Wednesday.
The benchmark BSE Sensex on Wednesday slumped by nearly 300 points to end the day's trade at 27,208.61 due to heavy profit-booking, chiefly in IT, oil & gas and power shares, ignoring government approving the ordinance route to implement insurance and coal reforms.
In a bid to chalk out the second leg of the signature ‘Make in India’ programme PM Modi will hold a meeting of several stakeholders on December 29 where he would come with a ‘specific action plan’ that would help boost manufacturing.
IndiGo, the country’s biggest domestic carrier by market share, has conveyed to the aviation ministry that it may order more planes. An IndiGo official, however, denied that the airline was ordering any new planes.
India will overtake the US as the second largest market for smartphones in the world by 2016, as smart mobile devices become affordable, global research firm eMarketer said.
Finance minister Arun Jaitley on Friday tabled the GST Bill in the Lok Sabha. Once enacted, it will be India’s most significant tax reforms initiative. A lowdown: