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Reliance Industries (RIL) will be among the world’s top 10 business conglomerates, chairman Mukesh Ambani said on Thursday. Ambani however, did not give a timeline for the same. “We are known for disrupting the market through constant innovation and reinvention. We have shown the courage to set the bar high and the ability to jump even higher to create new records,” Ambani said while addressing employees on Reliance Family Day, the birthday of group founder Dhirubhai Ambani.

N Chandrasekaran in his new year message to employees. «Now that we know what we have to do, and our plans have momentum, we need to think hard about how we can execute flawlessly and with speed». «The next decade will belong to companies who excel in giving customers excellent experiences. With our growing footprint in consumer businesses, we have to bring empathy to every interaction—be that in Air India, Tata Motors or Titan. Brand Tata must be recognisable across all companies. And our group’s aim should not be merely to adopt, or adapt to, technology. We need to shape it, and make it. This New Year, I urge each company to appoint an AI champion to proactively pursue the benefits of AI—economically, operationally and socially,» he said.

businesses ranging from world's largest single-location oil refining complex to nation's largest mobile network operators in just few years, billionaire Mukesh Ambani says his group Reliance Industries Ltd will never be complacent and will grow to be among the top 10 business conglomerates of the world. Addressing employees on Reliance Family Day — the birthday of the group's founder Dhirubhai Ambani, he said Reliance is now aiming to consolidate a place among global leaders in digital data platforms and AI adoption. «Today, the domestic and global environments for business are changing very fast. There is simply no room for complacency,» he said. «Reliance was never complacent in the past, and Reliance will never be complacent in future.»

2023 in review: For Indian tech startups, an unrelenting funding winter However, experts believe that despite these challenges, the Indian startup ecosystem remains resilient, supported by government initiatives and a renewed focus on sustainable, long-term success. The government has introduced several initiatives to support startups including Fund of Funds for Startups, Startup India Seed Fund Scheme, and Credit Guarantee Scheme for Startups.

Vedanta Ltd has paid the interest due to its bondholders on Wednesday for non-convertible debentures worth ₹2,500 crore. Interest on these unlisted, redeemable debentures was due on December 27 itself, the company told stock exchanges. These debentures, with a face value of ₹100,000 each and a quarterly interest payout, were allotted earlier this year, and will mature in March 2025.

bankruptcy regulator has firmed up a provisional list of 787 insolvency professionals (IPs) that it will share with the adjudicating authority to choose from to oversee various cases of resolution or liquidation. The move is aimed at avoiding administrative delays in the appointment of IPs to expedite insolvency resolution and prevent further erosion of stressed asset value, said a senior official.

Securities and Exchange Board of India (Sebi) is inquiring into the open offer made by Religare's largest shareholder, the Burman family, to the public shareholders of the financial services company, which triggered a spat with the current Religare management. In a December 20 letter reviewed by ET, Sebi asked Religare for «complete details and sequence of events, starting from the time of first discussion regarding the open offer transaction till the stock exchange announcement dated September 25, 2023.» It has also sought personal and official details of all the persons involved in discussions, along with «documentary evidence.»

BluSmart has raised $24 million, or around Rs 200 crore, in fresh capital from some of its existing investors, founders and leadership team, the company said in a statement on Thursday. This makes it the second successive funding round for the Gurugram-based startup. The funding was in the form of a rights issue, and has not seen participation from new investors. The round also saw BluSmart’s founders increasing their stake in the company.

global CEO of luxury brand Chanel, has several significant firsts to her credit. At Unilever, Nair, 54, was the first woman to lead global human resources. And then, Chanel appointed her as its first global CEO of Indian origin. She was a fashion industry outsider when picked by the French fashion house to lead it in 2022. “I am humbled and delighted to receive this prestigious award. India has shaped my values; it is where I grew up, where I completed my education, and where I spent 40 years of my life, including two decades of my professional career,” she told ET after being chosen for the Global Indian Award. “This award is a recognition of Chanel, an iconic and admired luxury brand, and our teams across the world. We believe in the freedom of creation, encouraging human potential and acting to have a positive impact in the world.”

Venture Capital crypto fund C1 Fund has been meeting a number of Australian businesses offering to buy private holdings from investors, reports the Australian Financial Review.

NR Narayana Murthy doesn't seem perturbed by the kerfuffle he sparked by suggesting recently that youngsters ought to work 70 hours a week to boost productivity and enhance India's competitiveness. He himself had put in the hours when setting up Infosys in 1981, said Murthy, 77.

Manipal Technologies (MTL), the largest manufacturer of banking and smart cards in India, plans to bring in a financial partner into the eight-decade-old, Pai family-owned business at a valuation of around ₹4,000-4,200 crore ($500 million), multiple people aware of the initiative told ET. The Pai family is seeking to raise about ₹1,000 crore ($100-125 million) for the Manipal Group business that began as the back office of Syndicate Bank in 1941.

Mamaearth Venture capital fund Fireside Ventures Investment Fund plans to sell a partial stake in Mamaearth parent Honasa Consumer through block deals on Tuesday, according to reports. Read more: Here's the trade setup for today's session JSW Infra JSW Infrastructure, India’s second largest commercial port company, has signed a share purchase agreement with SP Port Maintenance, a Shapoorji Pallonji Group company, to acquire majority shareholding of PNP Maritime Services (PNP Port). Max Financial Analjit Singh has resigned as Chairman of Max Life Insurance, the material subsidiary of the Max Financial Services. Bank of India Bank of India is likely to launch qualified institutional placement of Rs 3500-4000 crore, CNBC TV18 reported. HCL Tech HCL Tech arm HCL UK to sell 49% stake in joint venture to State Street for $170 million plus net book. The transaction is expected to be completed in the second calendar quarter of 2024. DCB Bank DCB Bank to consider fund infusion by promoter Aga Khan on December 8.

Cross-chain protocol Wormhole has secured a $225 million investment at a valuation of $2.5 billion.

Venture capital investment into Europe's tech industry plunged by half in 2023 as investors continued to reel from the effects of high interest rates, according to data from venture capital firm Atomico.

Indian startups seeking to secure VC funding as investors go slow on deals with growing concerns around several homegrown startups such as Byjus. The massive fall in funding value indicates that VC firms are cutting down on big investments and raising capital in the current scenario is not easy for startups," said Aurojyoti Bose, Lead Analyst at GlobalData.

₹1,000 crore towards its maiden credit fund, marking its entry into private credit. True North, with assets under management of over $3 billion, raised capital from Indian ultra-high net worth individuals (UHNIs) and family offices. It will look to deploy the capital over the next five years and is targeting a 15-18% internal rate of return (IRR), Vishal Nevatia, founder and managing partner, True North and Kapil Singhal, managing partner at True North’s private credit unit said.

PHD Chamber of Commerce and Industry (PHDCCI) is launching its policy forum initiative, led by president Sanjeev Agrawal and Dr. Manoj Pant, Advisor –PHDCCI and former VC, Indian Institute of Foreign Trade (IIFT), along with Dr Ranjeet Mehta, executive director, PHDCCI. The industry body said the move, emphasizing collaboration with the government and top research entities, aims to ‘revolutionize’ India's policy approach. In an interview to ET, PHDCCI president Sanjeev Agrawal discussed the goals of the initiative, potential challenges, and its potential to ‘revolutionize’ policy-making in India and beyond, besides PHDCCI's broader vision. Edited excerpts:

Crypto venture capital firm Paradigm criticized Blast’s protocol marketing strategy, claiming the startup “crossed lines in both messaging and execution." The VC firm is a seed investor in Blast.

Working in silos during the pandemic period helped many lawyers make independent decisions in key cases, which boosted the confidence of several of them to start their own. Since the operating cost of such boutique firms is low, these lawyers have the flexibility to take up small-ticket disputes for which litigants wouldn't approach full-service firms.