Monday, May 16
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Finance

Daikin to set up ₹1,000-crore plant in Andhra Pradesh: Make in India

Daikin to set up ₹1,000-crore plant in Andhra Pradesh: Make in India

Business, Finance, Tech
"Daikin has a very clear strategic intent to enhance its air conditioning, air filtrations, and refrigeration portfolio, for which India has been identified as a developmental hub," said Daikin India's Managing Director. Daikin to Invest 1000 crore rupees in Andhra Pradesh India Japanese multinational air conditioning manufacturer, Daikin will invest about ₹1,000 crore in seting up a plant in India. Thus, it becomes the first company to acquire land for a new unit under the recently-introduced production-linked incentive (PLI) scheme for white goods. Daikin India completed the purchase agreement for a 75-acre land at Andhra Pradesh's Sri City. The company plans to set up a huge air-conditioner (AC) manufacturing plant in phases. The first investment instalment is expected to be o...
100% FDI, other Major Telecom Reforms Approved by Cabinet

100% FDI, other Major Telecom Reforms Approved by Cabinet

Business, Finance, India, Latest News
The five process structural reform will give much-needed relief to Vodafone-Idea — confronting an existential crisis, as well as to Airtel. Good news for Vodafone Idea & Airtel: 100% FDI in telecom sector New Delhi: In a first, the Union Cabinet on Wednesday allowed 100% foreign direct investment (FDI) in the country's struggling telecom sector via the automatic route. This forms part of the five process structural reforms proposed by Ashwini Vaishnaw, Minister for Communications. Earlier, only 49% FDI was allowed through the automatic route and anything above that needed to pass through government route. “Today the cabinet has decided to allow 100 per cent FDI through automatic route in the telecom sector. All safeguards will be applicable,” said Vaishnaw, adding tha...