September 23, 2016
Every day we compile the latest news on the Indian economy to keep you abreast and updated on the current state of commercial affairs. So that Indian economy news stays fresh and crisp as your daily newspaper, with inputs from the best resources. Our compilations bring business news reports that are relevant today and tomorrow, giving vital inputs on the various sectors of the Indian Industry and trade. The news gathered from across the financial and political hubs of India so that you know the shape of things to come in the Indian economy.
Private equity (PE) investments into India's retail real estate sector stood at Rs 3,350 crore (US$ 501.2 million) in the first six months of 2016: Cushman & Wakefield (C&W)
New Delhi: Mr Suresh Prabhu, Minister for Railways, has stated that the merger of Railway Budget with the Union Budget is the biggest reform that has been done in this sector till date, leading to savings of Rs 9,700 crore (US$ 1.45 billion).
New Delhi: The Department of Commerce, Government of India, has extended total support under the Merchandise Exports from India Scheme (MEIS) from the present Rs 22,000 crore (US$ 3.3 billion) to Rs 23,500 crore (US$ 3.52 billion) per annum.
Ooty: The United Planters’ Association of Southern India (UPASI) and China Tea Marketing Association (CTMA) have signed a Memorandum of Understanding (MoU) to jointly promote sustainable tea production and consumption.
Mumbai/New Delhi: Next Orbit Ventures, a growth-stage investor, plans to invest US$ 100 million in Gujarat-based semiconductor fabrication project, through its fund focused on electronic system design and manufacturing (ESDM) sector.
Bengaluru: Wipro Consumer Care and Lighting (WCCL) has made its second largest acquisition by agreeing to buy Chinese fast-moving consumer goods (FMCG) company Zhongshan Ma Er Daily Products Limited in an all cash deal.