India Financial News

BS Ajaikumar, founder and executive chairman of specialty cancer care chain HealthCare Global Enterprises (HCG), on Wednesday launched a thematic healthcare and life sciences fund with an initial corpus of $20 million ('166 crore). While the oncologist-turned-entrepreneur contributed 90% of the corpus for the Inviga Healthcare Fund, the remaining 10% is from Equirus Capital founder and managing director Ajay Garg. The fund will invest up to '40 crore in equity and provide strategic expertise to early-stage and mid-level companies of Indian clinicians, scientists and entrepreneurs, Ajaikumar said.

Reliance Industries' fast-moving consumer goods (FMCG) company clocked ₹3,000 crore sales in FY24, its first full year of operations, with beverage brand Campa Cola alone contributing ₹400 crore, said a senior industry executive aware of the plans. To put in perspective Reliance Consumer Products' (RCPL) performance, Emami with five decades of operations reported ₹3,400 crore sales in FY23, while oral care market leader Colgate-Palmolive (India) posted revenue of ₹5,226 crore the same year which marked its eighth decade of operations. Listed FMCG companies are still to declare financial results for FY24. RCPL formally began operations on November 30, 2022. RCPL, housing brands such as Campa Cola and Independence, aims to continue the sales growth momentum propelled by staples and beverages.

Amazon.com said on Wednesday it plans to push its cashierless shopping technology into more third-party stores this year, even as it reduces its reliance on the technology in its own. The online retailer said about 140 stores use the system, known as «Just Walk Out,» which allows customers to scan an app to enter a store and leave with their items without paying at a register. Amazon will more than double that number this year.

Mirdha and Hanuman Beniwal faced each other in Nagaur in 2019, but this time the contest has a twist. The plain-speaking Beniwal, president of the Rashtriya Loktantrik Party, was a part of BJP-led NDA in 2019 who defeated Congress candidate Mirdha. Beniwal, however, walked out of NDA in 2020 over the farm legislations and later vociferously opposed the Agniveer scheme. Considered close to Congress veteran Ashok Gehlot, Beniwal is now an INDIA bloc candidate fighting a tough battle. Mirdha, on the other hand, is now with BJP. Her grandfather Nathuram Mirdha was an influential Congressman who represented the seat six times and was the only MP to be elected from the party in 1977 during the Janata Party wave. Like the rest of Rajasthan, caste is the main factor. The saying goes that when two Jats clash, the community votes for the one who would be more effective in representing the community. «Every community wants their own powerful leader,» Mirdha said, brushing aside the suggestion that her gender was an issue. «Jats are a progressive community. They educate their daughters. I have never felt any less a leader because I am a woman. Also, they have known my family for generations. They know how we have worked for them.»

A key element is to enhance coordination among MDBs. While the diverse structures of MDBs have their own merits, addressing new global challenges will require resources and capabilities of a magnitude beyond the capability of any single MDB. The current dynamism on the reform agenda stems primarily from the pressure exerted by the shareholders via various forums, including the UN, the G7, and the G20. Among these, the role of the G20 has been particularly crucial. Starting with balance sheet optimisation measures in 2015, the G20 has been slowly and steadily nudging the MDBs to identify necessary actions to strengthen themselves for meeting spiraling development financing needs. The 2022 recommendations from the Independent Review of MDBs' Capital Adequacy Frameworks (CAF) were a significant outcome.

Foreign Exchange Management (Non-Debt Instruments) Rules. The new rules, based on the Cabinet decision in February on the relaxed FDI caps, came into effect from April 16, according to a gazette notification by the ministry. The rules, coming just days ahead of Tesla chief Elon Musk's India visit, are aimed at drawing a larger number of foreign investors into the Indian space sector. Musk is reportedly planning to announce investments of $2-3 billion, mainly in the EV segment, and meet Indian space players as well during his India visit starting April 21. As per the new rules, up to 100% FDI is allowed in the space sector. However, up to 74% FDI is permitted under the automatic route in satellite manufacturing and operation, satellite data products and ground and user segment. Beyond 74%, FDI in these activities requires government approval.

Air India has sold four of its last remaining Boeing 747-400 jumbo jetliners, marking the end of an era that had once thrust the airline to the global league. People familiar with the matter said the four aircraft have been sold to US company AerSale, a supplier of aftermarket commercial jet engines and parts. While two aircraft are likely to be converted to freighters, two will be disassembled for their parts, the people said. Vman Aviation Services, a Mumbai-based company, will manage the transfer of the planes to AerSale.

Delhi Capitals notched up a six-wicket win over Gujarat Titans in a low-scoring game after Rishabh Pant's bowlers stood up for their ilk and restored a modicum of sanity and equilibrium in the Indian Premier League here on Wednesday. Opting to field first, the Capitals rolled over Gujarat Titans for 89 in 17.3 overs, the bowlers finally having a say after being blasted all over the park in the last few matches of the lucrative league. Mukesh Kumar was the most successful bowler for DC with figures of 3/14, while there were two wickets apiece for Ishant Sharma (2/8) and Tristan Stubbs (2/11). As far as GT batting is concerned, only Rashid Khan put up a semblance of resistance with a 24-ball 31.

Punjab Chief Electoral Officer (CEO) Sibin C said that tight security arrangements have been made to conduct the elections in a free and fair manner in Punjab. According to data, various law enforcement agencies, including the Punjab Police and BSF, seized drugs worth Rs 213.07 crore, liquor worth Rs 13.83 crore, cash worth Rs 6 crore and valuable and other items worth Rs 10.3 crore.

Cognizant Technology Solutions from using in India a trademark logo that is allegedly identical to the logo of Bengaluru-based Atyati Technologies Pvt Ltd. The court, in its ex-parte order, also observed that Atyati Technologies has made out a prima facie case and the balance of convenience also tilts in its favour.

With various sizes, designs, and cost-effective options available, discover the best manual lockers for home in India tailored to fit your requirements in our comprehensive guide. All of the shared options are readily available on Amazon and you can place your order using the buying links shared in the article below.

USCIS) proudly posted on X that a 99-yr-old woman from India had been awarded citizenship. 'They say age is just a number. That seems true for this lively 99-year-old who became a new US citizen in our Orlando office. Daibai is from India and was excited to take the Oath of Allegiance....' Indians tired of waiting for an employment-based green card (GC) for decades did not take too kindly to this post. One person responded to USCIS with, 'LOL. Soon you will give green cards posthumously!' A GC is the first step on the path towards US citizenship. In general, only after five years of holding a GC (reduced to three years, if you are married to a US citizen) can you apply for citizenship. The catch — it's a decades-long queue if you are from India.

India to Dubai have been disrupted significantly as heavy rains resulted in flooding of the emirate's airport, also one of the world's busiest airports. Air India, which operates 72 weekly flights from various cities to Dubai, cancelled its services on Wednesday. Apart from Air India, Air India Express, Vistara and SpiceJet also operate flights from various Indian cities to Dubai, which is also home to a large number of Indian diaspora. An Air India spokesperson said that due to the impact of adverse weather in Dubai, it had to cancel flights to and from the Gulf nation on Tuesday and Wednesday.

The rupee has fallen to a new low of 83.5 against the dollar. This has wide ramifications, making exports lucrative but imports expensive. Mint looks at why the currency is falling, how it impacts everybody and what can RBI do.

NEW DELHI : The World Bank plans to provide a $1 billion line of credit to the State Bank of India (SBI) to support the expansion of Battery Energy Storage Systems (BESS) and electric mobility in the country, two people aware of the development said, a move that helps India quicken its green energy transition. The proposal aims to help attract early investments and mobilize private capital and commercial financing. The amount will be disbursed in tranches.

social media. Reacting to the video, an X user said many in Kerala are fighting battles for Palestine. "That's why they were feeling so hurt.

Sultanpur MP Maneka Gandhi on Wednesday said the country has moved away from casteism and embarked on the path of development. She called upon everyone to rise above casteism and vote on the issue of development. «The way Modiji has changed the condition and direction of the country. The country has moved away from casteism and embarked on the path of development,» Gandhi told reporters here. «I have also worked in Sultanpur by giving priority to development and people's problems. I never did caste and religion based politics,» she added.

Foreign Direct Investment (FDI) in the Space sector under the Foreign Exchange Management Rules which will now enable Indian space startups working on capital-intensive space products to now access a global pool of capital. The cabinet on February 21 had allowed 74% foreign direct investment (FDI) under automatic route for satellite manufacturing, upto 49% under automatic route for launch vehicles, and upto 100% under automatic route for manufacturing of components and systems.

Large property developers across India have stepped up efforts to incorporate water conservation measures into projects, aiming to mitigate environmental impact and this is prompting other small and mid-sized developers to implement these measures. According to brokers operating in various property markets, these measures are turning out to be a key differentiator for conclusion of sales transactions.

Chennai Super Kings (CSK) in Chennai, the flight searches on the portal had gone up 33 per cent month-on-month. Similarly, demand for flights to Lucknow had increased by 29 per cent when Lucknow Super Giants (LSG) and Gujarat Titans (GT) were to clash there on April 7.

The Guardian reported that the Swiss foods company adds sugar and honey to infant milk and cereal products sold in “poorer countries". It cited data from Public Eye, a Swiss investigative organization, and the International Baby Food Action Network (IBFAN) that examined Nestlé baby food brands sold in these markets. Public Eye examined 115 products sold in Nestlé’s main markets in Africa, Asia and Latin America across two key brands—Cerelac and Nodi.