Category Articles: Business

Online functional sportswear Indo-Swiss brand True Revo opens its first Indian offline store in Gujarat

June 14, 2019

Ahmedabad: Online functional sportswear selling Indian brand True Revo, which gets its products designed by Switzerland based designers and sells them in 56 countries, today opened its first offline store in plush CG road locality of Ahmedabad city of Gujarat. Founder of the company, that has been adjudged among top 6 upcoming global and only Indian sports apparel brand during prestigious ISPO trade fair in Munich, Germany, Rohan Shah, today said that based on the experience of the fi...Read More

India home to world’s second largest internet user base, thanks to Jio

June 13, 2019
India home to world’s second largest internet user base, thanks to Jio

New Delhi: Helmed by Reliance Jio, India is home to the world's second largest internet user base, accounting for 12 per cent of all internet users globally, the 2019 Mary Meeker report on Internet Trends said. Jio is one of the most innovative internet companies based outside the US, it added. "At 3.8 billion, the number of Internet users comprises more than half the world's population," it said, adding China has the largest base, accounting for 21 per cent of all internet users globally....Read More

Reliance and BP sanction third phase of integrated KG D6 development

June 11, 2019
Reliance and BP sanction third phase of integrated KG D6 development

Mumbai: Reliance Industries Limited (RIL) and BP today announced the sanction of the MJ project (also known as D55) in Block KG D6, offshore the east coast of India. MJ is the third of three new projects in the Block KG D6 integrated development plan and its approval follows sanctions for the development of ‘R-Series’ deep-water gas field in June 2017 and for the Satellites cluster in April 2018. Together the three projects are expected to develop a total of about 3 trillion cubic feet...Read More

Gujarat CM opens International Pharma & Healthcare Exhibition (iPHEX-2019)

June 10, 2019
Gujarat CM opens International Pharma & Healthcare Exhibition (iPHEX-2019)

Gandhinagar: Gujarat Chief Minister Vijay Rupani here today expressed desire to increase the state’s share in pharmaceuticals production from 30 per cent to 45 per cent. Inaugurating two-day International Pharma & Healthcare Exhibition (iPHEX-2019), jointly organized by Government of India Department of Commerce and Pharmaceuticals Export Promotion Council (Pharmexcil), he appealed to the drug and pharmaceuticals to provide medicines and healthcare facilities, particularly for the ser...Read More

GIFT City appoints former Corporate Affairs Secretary Tapan Ray as its Managing Director

June 10, 2019
GIFT City appoints former Corporate Affairs Secretary Tapan Ray as its Managing Director

Gandhinagar: GIFT City, India's first international financial services center and operational Smart City, has appointed former Corporate affairs Secretary and Gujarat cadre IAS Officer, Mr. Tapan Ray as its next Managing Director. With a career spanning more than three decades, Mr. Ray has held several key positions in the Ministries of Defence, Textiles, Power, Science &Technology, and Planning in the Government of India. He has also served as Principal Secretary, Finance Department, Go...Read More

BHEL bags Rs. 520 crore orders to set up power plants in Maharashtra, Gujarat

June 10, 2019
BHEL bags Rs. 520 crore orders to set up power plants in Maharashtra, Gujarat

New Delhi: State-run Bharat Heavy Electricals Ltd (BHEL) today said it has won three orders worth Rs. 520 crore for setting up solar photovoltaic (SPV) power plants with a combined capacity of 135 mega watt (MW) in Maharashtra and Gujarat. "Cumulatively valued at Rs. 520 crore, the orders have been secured from Maharashtra State Power Generation Company, (MAHAGENCO), Gujarat State Electricity Corporation (GSECL) and Gujarat Narmada Valley Fertilizers and Chemicals, (GNFC)," BHEL said in a sta...Read More

Chief Minister opens China-India-Gujarat Economic and Trade Conference-2019

June 07, 2019
Chief Minister opens China-India-Gujarat Economic and Trade Conference-2019

Gandhinagar (Press release of Govt of Gujarat) Chief Minister Vijay Rupani inaugurated China-India-Gujarat Economic and Trade Co-operation Confernce-2019, jointly organized by China’s Guangdong Province Department of Commerce, FICCI Gujarat Council and iNDEXTb, here today. Speaking on the occasion, he said that China and India are playing a very important role in the global economic order, with Gujarat performing a special part. He said there is need to chart out the future chart for develo...Read More

RBI cuts repo rate by 25 bps, third in row; also removes charges levied on RTGS, NEFT transactions

June 06, 2019
RBI cuts repo rate by 25 bps, third in row; also removes charges levied on RTGS, NEFT transactions

Mumbai: Reserve Bank of India (RBI) will do away with the charges levied for transactions processed in the RTGS and NEFT systems. Banks will be required to pass these benefits to their customers. Instructions to banks in this regard will be issued within a week. The announcement was made in the Statement on Developmental and Regulatory Policies, released today as part of RBI's monetary policy review. RBI today also announced 25 bps rate cut, 3rd in a row and slashed repo rate to 5.75%, l...Read More

Axis Trustee becomes first trustee to start operations in GIFT IFSC

June 04, 2019
Axis Trustee becomes first trustee to start operations in GIFT IFSC

Gandhinagar :In yet another 'first' for GIFT City - India’s first operational International Financial Services Centre (IFSC) near here; Axis Trustee Services Limited (promoted by Axis Bank) became the first trustee to start operations at GIFT IFSC. Axis Trustee will provide Facility Agency services to IFSC banking units for their ECB transactions and trusteeship services to Alternate Investment Funds. It may also offer Escrow Agency services for cross border M&A transactions. It will comple...Read More

Gujarat government to announce ‘Emission Trading Scheme’

June 04, 2019
Gujarat government to announce ‘Emission Trading Scheme’

Gandhinagar: Gujarat Government will on the occasion of World Environment Day announce 'Emission Trading Scheme' on June 5 and become the first State to set up 'Emission Trading Market' in order to encourage and incentivize the industrial units that follow the rules of Gujarat Pollution Control Board(GPCB). The announcement of the scheme will be made by Chief Minister Vijay Rupani at 'Beat Air Pollution' function at University convention hall in Ahmedabad. "The main aim of the scheme is to i...Read More