Bosch to invest Rs1,700 crore in India over next 3 years

download (7)Source: LiveMint.com, Jun 20, 2018

Bengaluru: German auto parts maker Bosch Group plans to invest 1,700 crores ($250 million) in India over the next three years to meet growing demand in the domestic automotive market, chief executive officer Volkmar Denner said on Wednesday.

The company will also ramp up investments in electric vehicles, self-driving technologies, diesel engines and artificial intelligence, Denner said at a press conference in Bengaluru, India.

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Modi govt plans ‘Pariwartan’ scheme for power sector revival

download (6).jpgSource: LiveMint.com, Jun 21, 2018

New Delhi: The government plans to warehouse stressed power projects totalling 25,000 megawatts (MW) under an asset management firm to protect the value of the assets and prevent their distress sale under the insolvency and bankruptcy code till demand for power picks up.

State-run Rural Electrification Corp. Ltd (REC) has identified projects with a total debt of around Rs 1.8 trillion as part of the scheme, which is under government consideration and has been tentatively named Power Asset Revival through Warehousing and Rehabilitation, or ‘Pariwartan’, said a government official aware of the plan, requesting anonymity.

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Corporate loan growth signals business revival

download (5)Source: The Hindu Business Line, Jun 20, 2018

Hyderabad: After a long lull, corporate lending is witnessing a revival.In recent years, loans to industries and businesses had been stalled due to macro-economic concerns and rising non-performing assets (NPAs).

However, the advances of some major banks indicate a perceptible change in approach to corporate lending.For instance, the corporate loan portfolio of the State Bank of India, the country’s largest lender, grew 1.80 per cent in the year ended March 31, 2018, at ₹10.11-lakh crore, against ₹9.93 lakh crore in the year-ago period.

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India in talks with China, Australia, New Zealand to crack mega trade deal

Source: The Hindu Business Line, Jun 20, 2018

New Delhi: India is holding bilateral dialogues with China, Australia and New Zealand to get them to agree to less ambitious tariff cuts for sensitive products. The aim is to end the logjam in the negotiations for the mega regional trade bloc, the Regional Comprehensive Economic Partnership (RCEP).

The pact is being negotiated between 16 countries including the 10-member ASEAN, Japan and Korea.

“All member countries negotiating the RCEP now agree that as members may have different sensitivities with each other, efforts must be made bilaterally to sort them out and reach a common ground. Without such efforts, it would not be possible to reach an agreement between 16 members,” an official said.

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Higher import duties on strategic US imports to kick in

Source: Business Standard, Jun 21, 2018

New Delhi: Strategic imports from the US, including items across the board such as dry fruits, shrimps, chemicals, and motorcycles, are all set to attract higher duty from Thursday, 21st June onwards.

Set to bring out the official notification during the day, India has prepared a crafty list to counter US President Donald Trump’s repeated threats of cutting trade while aiming to reduce the impact on domestic businesses. It hopes to rake in a total $240 million worth of duties through higher tax by up to 50 per cent on certain items.

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Tourism firm TUI Group aims to tap India’s booming online travel market

download (4).jpgSource: Business Standard, Jun 20, 2018

New Delhi: London Stock Exchange-listed tourism company TUI, which has an annual turnover of 18.5 billion euros, has set its sight on the fast expanding Indian online travel market. It recently shut its business of distributing holiday packages and launched an online platform in early May for hotel and flight bookings and to compete with players such as MakeMyTrip and Yatra.

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Solar Industries India partners Eurenco for major artillery tender

images (2).jpgSource: Business Standard, Jun 20, 2018

New Delhi: On Tuesday, Solar Industries India Ltd (hereafter Solar), one of India’s fastest growing companies in defence manufacturing, announced a strategic tie-up with Eurenco, the European leader in high-energy materials for explosives and propellant technologies.

Announcing the partnership at the EUROSATORY 2018 defence exhibition near Paris, the two firms said they would bid jointly for a forthcoming multi-billion dollar Indian tender to manufacture artillery propellants – called the bi-modular charge system (BMCS).

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