Connect with us
Tuesday,07-February-2023
Breaking News

Business

Maharashtra rakes in investment proposals worth Rs 88,500 cr at Davos

Published

on

Conducting brisk business at the World Economic Forum (WEF) in Davos, Switzerland, Maharashtra Chief Minister Eknath Shinde and his team inked MoUs worth around Rs 88,500 crore for various projects with a potential to create over 56,000 jobs, officials said on Tuesday.

Industry Minister Uday Samant, who is part of the CM’s entourage, said that in the first two days, the state government has signed agreements with several major global conglomerates and investors.

Present at the ceremonies were top officials like Harshdeep Kamble, Vipin Sharma, T. Krishna, Shreya Eren, Ashish Nawade and others.

The prospective investors include USA’s New Era Cleantech Solution’s Rs 20,000 crore coal gasification project (15,000 jobs) and Israel’s Rajuri Steels and Alloys subsidiary’s Rs 600 crore steel plant (1,000 jobs), both in Chandrapur.

MoUs were also signed with two UK companies — Varad Ferro Alloys will set up a Rs 1,520 crore steel project in Gadchiroli (2,000 jobs) and Rcube/Ark Data’s investment for a Rs 12,000 crore plant in Pune (1,200 jobs) — besides Portugal’s Elite Plast AutoSystems proposing to start a Rs 400 crore plastic automotive project in Pune (2,000 jobs).

Another big one will be GoGoRo Engineering and Badway Engineering’s Rs 20,000 crore investment projects with employment potential of 30,000 across the state.

Others include Mahindra Electric Vehicle Automobile Ltd’s investment of Rs 10,000 crore in Pune (3,000 jobs), Japan’s Nippon Telegraph & Telephones’s Rs 20,414 crore across the state (1,525 jobs).

These were preceded by proposals from Berkshire Hathaway HomeServices Orenda India (Rs 16,000 crore), ICP Investments/Indus Capitals (Rs 16,000 crore), Greenko Energy Projects Pvt Ltd of Telangana (Rs 12,000 crore), Nipro Pharma Packaging India Pvt Ltd of Pune (Rs 1,650 crore) and Rukhi Agro Foods of Thane (Rs 250 crore).

Shiv Sena (UBT) chief spokesperson and MP Sanjay Raut said that if all these investments are indeed coming, it will be good for the state.

“However, let’s wait till the investments actually come and jobs are really created before we comment,” said a skeptical Raut, who had on Monday urged Shinde to visit Gujarat and get back projects of Maharashtra which had shifted there in 2022.

The MoUs pertain to greenfield projects like data centres, pharmaceuticals, logistics, chemicals, automobiles, electric vehicles, renewable energy and ESDM.

Among the most industrialised states in India, Maharashtra contributes 15 per cent to the national GDP and 16 per cent of the country’s industrial output.

The services sector accounts for much of the state’s economy, up to 62 per cent of the state GDP, followed by the manufacturing sector which contributes 20 per cent through major industries including automobiles, engineering, textiles, pharmaceuticals, chemicals, petrochemicals, food processing and IT/ITeS.

Business

Reliance Jio, GSMA roll out initiative to train rural women in digital skills

Published

on

By

Reliance Jio and global mobile network operators’ organisation GSMA on Tuesday announced the roll-out of their digital skills programme to train rural women in India.

The programme aims to provide need-based training to rural women and individuals from marginalised/low-income groups to help them make meaningful use of digital access.

The national roll-out phase is now underway, with the programme being rolled out across 10 states.

“We are proud to partner with GSMA in this programme to take digital skills training to the women across India and be the wind beneath their wings,” said Isha Ambani, Director, Reliance Jio.

As per the GSMA’s ‘Mobile Gender Gap Report 2022’, women in India are 41 per cent less likely than men to use mobile internet.

A total of 330 million women in India still do not use mobile internet, compared to 248 million men. Lack of literacy and digital skills is one of the top reported barriers to mobile internet use.

As a part of the programme, the GSMA and Jio teams worked together to assess prevalent digital skill gaps and develop need-based digital skills training toolkits that are India-specific.

Over 1,000 rural women and men from Uttar Pradesh and Tamil Nadu participated and provided inputs for the refinement of the digital training toolkits during the trial phase.

Reliance Foundation will be supporting the roll-out through its large network and self-help groups, particularly in rural areas.

“More needs to be done to ensure women are not being left behind in an increasingly connected world. We are excited to partner with Jio and Reliance Foundation to take the Digital Skills Programme national and help accelerate digital inclusion for women,” said Mats Granryd, Director General, GSMA.

The GSMA is a global organisation unifying the mobile ecosystem to discover, develop and deliver innovation foundational to positive business environments and societal change.

Continue Reading

Business

Centre asks Vodafone Idea to convert Rs 16,000 dues into equity

Published

on

By

Financially-stressed telecom company Vodafone Idea said on Friday that the government has directed it to convert a portion of its dues worth Rs 16,000 crore it owes to the exchequer into equity in the government’s favour.

“It is hereby informed that the Ministry of Communications has [directed] the company to convert the NPV of the interest related to deferment of spectrum auction instalments and AGR dues into equity shares to be issued to the government of India,” the company said in a filing.

The government will take 33 per cent equity in Vodafone Idea after converting all interest related to payments for spectrum and other dues into equity.

This will make the government the largest shareholder in the telecom company.

Vodafone Idea will convert dues of Rs 16,133 crore into equity and issue shares for Rs 10 each, the company informed.

“We had sought a firm commitment that the Aditya Birla Group would run the company and bring necessary investments. The Birlas have agreed and hence we have agreed to convert. We want India to be a three-player market plus BSNL and ensure healthy competition for consumers,” Telecom Minister Ashwini Vaishnaw said in a statement.

Continue Reading

Business

I-T dept raids over 30 locations of five builder groups across Jaipur

Published

on

By

The Income Tax department on Thursday raided over 30 locations of five builder groups across Jaipur. The teams also conducted search operations at two locations of a builder group in Gurugram.

Officials said that the I-T department had received a tip-off that these builders were engaged in making cash deals while selling flats in multi-storey buildings, plots and commercial properties in Jaipur.

After verification, 40 teams of the investigating branch of the I-T department raided their locations on Thursday morning. Raids have been conducted at the premises of Manglam Group, Sanjivani, R-Tech, Jugal Derewala and Haridutt, including their offices, corporate offices and residential premises.

The I-T teams have raided places in Jaipur including Tonk Road, Mansarovar, Rajapark, Jagatpura, C-Scheme, Civil Lines, Ajmer Road, Delhi Road, Agra Road and Sanganer.

Sources said that the department had received complaints of undisclosed income running into crores of rupees. All the five builders were using cash to buy and sell land. So the I-T teams raided around 38 targets simultaneously. According to the information received so far, huge amount of cash, and documents of land purchase and sale have been found from their premises.

Continue Reading

Trending