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Maruti Announces Rs 35,000 Crore Plan For New Gujarat Plant

January 12, 2024 14:44

Acknowledging the support of Prime Minister Narendra Modi for the automotive industry, Maruti Suzuki has declared that the firm will pump in Rs 35,000 crore to establish its second manufacturing facility in Gujarat. This expansion should scale the company’s annual production capacity in Gujarat to 20 lakh units, with 10 lakh units at Suzuki Motor […]

Amazon, Flipkart and Google. These Global Companies Have Prepared a List of Layoffs in 2024

January 11, 2024 18:05

Layoff In 2024: After Amazon, the next name in the list of companies preparing for layoffs is Flipkart, which is owned by Walmart. The giant company has also prepared a plan to cut its workforce. According to reports, Flipkart is reviewing the performance of its employees and this process could be completed by March-April 2024. […]

Colorful Quotes From the Inaugural Session of Vibrant Gujarat

January 10, 2024 17:41

The inaugural session of the Vibrant Gujarat Summit is an all-star event, with top industrialists and luminaries from all over the world in attendance. The 10th summit of the series, which was inaugurated at the Mahatma Mandir in Gandhinagar on Wednesday, was no exception. VO! brings you quotes from the lead speakers: Narendra Modi, Prime […]

Tata Group to Set up Semiconductor Factory in Dholera, Big Announcement by N Chandrasekaran at Vibrant

January 10, 2024 14:01

Tata Sons chairman N Chandrasekaran announced that the company is close to finalising a deal for a semiconductor fabrication unit in Gujarat’s Dholera. The unit is expected to be commissioned by 2024. Tata Sons chairman N Chandrasekaran said that the company is on the verge of giving final shape to the semiconductor fabrication unit in […]

Gautam Adani Announces Rs. 2 Lakh Crore Investment to Gujarat, at Vibrant Gujarat Summit 2024

January 10, 2024 13:59

Adani Group to invest USD 25 billion in Gujarat, announces world’s largest green energy park. Gautam Adani, the chairman of the Adani Group, announced a massive investment of over Rs. 2 lakh crore (USD 25 billion) in Gujarat over the next five years, creating more than 100,000 jobs in various sectors. He also unveiled his […]

Mukesh Ambani Announces Five Commitments at Vibrant Gujarat Summit 2024

January 10, 2024 12:48

Reliance Industries Chairman Mukesh Ambani reaffirmed his bond with Gujarat and his company’s contribution to the state’s development at the Vibrant Gujarat Summit 2024 on Wednesday. He also made five pledges for the future, including investing in green energy, 5G, retail, carbon fibre and sports infrastructure. Ambani, who has attended every edition of the summit […]

SSWL to Acquire AMW Autocomponent for Rs 138 Crore

January 10, 2024 12:03

Steel Strips Wheels Ltd (SSWL), a leading manufacturer of automotive wheels, has announced that it will acquire AMW Autocomponent Ltd (AACL), a company that was undergoing insolvency proceedings, for Rs 138 crore. The acquisition is part of a resolution plan approved by the National Company Law Tribunal (NCLT) Ahmedabad. According to a regulatory filing by […]

India discovers new oil reserve, reducing dependence on crude oil imports

January 9, 2024 16:47

India has discovered a new oil reserve in the Krishna Godavari Basin, off the coast of Kakinada, Andhra Pradesh. The discovery was announced by Union Petroleum Minister Hardeep Singh Puri. Puri said that the first oil was extracted from the well on January 7, 2024. He added that the well is expected to produce 45,000 […]

Ecom Express Appoints Pankaj Singh as new Chief Commercial Officer

January 3, 2024 17:24

Ecom Express, a leading provider of technology-driven logistics solutions, has created a new position of chief commercial officer at Ecom Express, and has hired Pankaj Singh, former founder of a proptech start-up – Multiliving Technologies, to fill the role from 4th January, 2024. Singh will be responsible for the company’s end-to-end procurement, including sourcing, spend […]

India To Remain Fastest Growing Major Economy In 2024, Says OECD Report

January 1, 2024 11:41

After successfully braving the rough waters of 2023, India is likely to remain as the world’s fastest-growing major economy in 2024 on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange (forex) reserves, says the latest Organization for Economic Cooperation and Development (OECD) report. Despite widespread pessimism witnessed among […]

Kotak outlines $30 trillion GDP plan

December 30, 2023 19:27

Veteran Indian banker Uday Kotak has presented a comprehensive plan with seven key recommendations to propel India towards achieving a $30 trillion GDP by 2047. In a post on social media platform X, he says, “In the early 80s, the Indian saver had low confidence in financial assets versus gold and land. Slowly, the saver […]

Reliance Industries Becomes First in India to Use Chemical Recycling for Circular Polymers

December 29, 2023 17:22

Reliance Industries Limited (RIL) has demonstrated its commitment to reducing plastic waste and promoting a Circular Economy in India through a groundbreaking innovation. On 29th December 2023, RIL, the operator of the world’s largest integrated refining and petrochemical complex, made history by becoming the first Indian company to transform plastic waste-based pyrolysis oil into International […]

Higher Capital Requirement For SBI, HDFC From FY25, Says RBI

December 29, 2023 11:33

The Reserve Bank of India has mandated requirement for higher capital buffer for the State Bank of India (SBI) and HDFC Bank. Both the Banks have been upgraded one noth up within their respective buckets in the list of the domestic systemically important banks (D-SIBs). RBI informed that SBI has moved from bucket 3 to […]

Adani Green Energy to raise Rs 9,350 cr

December 27, 2023 20:59

It’s yet another affirmation that the Adani Group is moving on from the Hindenburg group’s report, accusing it of fraud and insider trading. According to a recent report, Adani Green Energy is considering raising Rs 9,350 crore through equity warrants on preferential basis to its promoter group. The company confirmed this in an exchange filing. The warrants […]

How CEOs Are Spending Their Winter Break

December 25, 2023 15:02

When it comes to celebrating the New Year, it’s different strokes for different folks. Vibes of India asked a cross-section of CEOs about their plans for the Winter Break this year and we got very divergent answers. Some are taking the opportunity to travel; others are celebrating at home and some have decided not to […]

Paytm fires 1,000 employees to save 15 percent of staff costs

December 25, 2023 13:03

Paytm, the flagship brand of One 97 Communications, has recently undertaken a significant measure to streamline its operations and reduce staff costs by 15 percent. The move resulted in the termination of more than 1,000 employees across various departments, including payments, lending, operations, and sales. This initiative, executed over the past few months, accounts for […]

No More April Rush! Streamlined ITR Filing Starts Early with Forms 1 & 4

December 23, 2023 16:13

Taxpayers rejoice! The Income Tax Department has released ITR forms 1 and 4, ahead of the usual March/April schedule, bringing early filing cheer to individuals and entities with an annual income up to ₹50 lakh. This applies to the assessment year (AY) 2024-25, covering income earned in the current fiscal year (April 2023-March 2024). This […]

India’s 28% Tax Rate Expected to Affect the Future of the Country’s Gambling Industry

December 20, 2023 16:35

In August 2023, the Goods and Services Tax Council was reported to have proposed a 28% tax rate to collect more revenue from India’s gambling industry. GST aimed to collect approximately 1 trillion rupees (around $12 billion) in tax if the newly proposed tax bill took effect. According to Reuters, the changes made to the Goods and Services Act would include a 28% tax rate on the total funds deposited to online gambling platforms. This led to some betting firms expressing their frustrations, with others laying off their employees. However, the country’s federal Finance Minister, […]

Infra Spending, Performance Of Large Economies Led To GDP Growth: Ex-RBI Chief Rajan

December 14, 2023 16:23

Former RBI governor Raghuram Rajan said that in the first half of the current fiscal year, the sharp increase in GDP is attributed to infrastructure spending and performance of large economies of the world. Rajan further said that even as India’s growth rate is strong, private investment and private consumption have not picked up. He […]

IIBX Launches Silver Trading, Sells Out in 30 Minutes

December 14, 2023 16:04

The India International Bullion Exchange (IIBX) at GIFT-IFSC marked a significant milestone on Wednesday as it commenced silver trading. Within just 30 minutes of the launch, the entire available quota of 3 metric tonnes was traded, demonstrating the robust demand in the market. The platform’s inauguration was presided over by Hasmukh Adhia, Chairman of Gift […]