Business
Punjab CM tries to woo corporate honchos in Mumbai
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Punjab Chief Minister Bhagwant Mann on Monday extended a red carpet welcome to top honchos of Indian industry, inviting them to invest in his state to give boost to the industrial growth and open doors of prosperity for the youth.
The Chief Minister had detailed parleys with Godrej, Hindustan Unilever, Mafatlal Group, Mahindra & Mahindra, Jindal Steels and others during his visit here.
He showcased the state as the most preferred destination to these industrial units and asked them to invest.
Mann also apprised them that the state government is making strenuous efforts to further strengthen the single-window system for facilitating the investors.
He said the pragmatic policies of the state government coupled with industrial peace and state-of-the-art infrastructure provides a conducive atmosphere for the industrial development in the state.
Mann claimed that earlier single-window service was merely a sham, devoid of any meaningful purpose, which not only demoralised the potential investors but also hampered the industrial development of the state.
During a meeting with the representatives of the Hindustan Unilever, the Chief Minister asked them to expand their existing plant for tomato ketchup manufacturing in Nabha.
He said the government will encourage the farmers of the state to sow tomatoes in Punjab, thereby improving their economic lot. The company assured Mann that they will explore the feasibility of setting up their unit in the state.
The Chief Minister also had a detailed meeting with a delegation of Thyrocare – an Indian multinational chain of diagnostic and preventive care laboratories.
During the meeting, he apprised the representatives of the company that the government is laying major thrust on imparting quality healthcare services to people. Mann also invited the company to set up a chain of laboratories in the state for the people’s benefit.
During a meeting with the Mafatlal group, the Chief Minister said the cotton belt of the state produces the finest cotton across the globe which can be used as raw material for producing premium fabric. He asked the company to invest in the state as there is a huge potential of growth in Punjab.
Taking part in a meeting with representatives of Mahindra & Mahindra, he said that there is a huge potential for the tourism sector in the state, especially around Ranjit Sagar Dam, Chohal Dam and others.
The company showed keen interest in setting up its chain of Club Mahindra resorts in the state. They also invited the Chief Minister for inauguration of the upgraded plant of Swaraj Tractors at Lalru.
During a meeting with the delegation of Kotak Mahindra bank, the Chief Minister discussed the possibilities of expansion of the banking sector in the state.
He assured the delegation that the state government will provide fulsome support and cooperation to them for setting their venture.
Meanwhile, during a meeting with a delegation of Hind Terminal, a logistics company, the Chief Minister said there is a huge scope for the growth of the sector in the state. He assured full support to the company for expansion of their unit in Quilla Raipur.
Mann said that the logistic park will be given a boost by the state government.
The Chief Minister also had detailed deliberations with the Godrej group officials, who called on him later in the day. Mann asked the group to invest in the agriculture sector for benefitting the farmers immensely. He also asked them to explore the possibility of expansion in the real sector too.
During a meeting with Jindal Steel, the Chief Minister said the state is heading towards becoming surplus in power production and this can help in accelerating the growth of industry.
The Chief Minister said the Invest Punjab Summit being organized in Mohali on February 23-24 will prove to be a milestone towards giving a major fillip to industrial growth of the state.
Business
Tata Motors Unveils Limited-Edition Safari STEALTH to Mark 27 Years of Legacy
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Tata Motors is celebrating 27 years of the Safari with the launch of the exclusive STEALTH Edition, a limited-run variant designed for those who seek style and performance. Available in both the Harrier and Safari models, only 2,700 units of this edition will be produced. The Harrier STEALTH is priced at Rs 25.09 lakh (ex-showroom, Delhi), while the Safari STEALTH starts at Rs 25.74 lakh (ex-showroom, Delhi) and is offered in both 6- and 7-seater configurations. With a striking design, premium features, and advanced technology, the STEALTH Edition adds a new level of exclusivity to Tata’s SUV lineup.
The Tata STEALTH Edition brings a bold, monotone design that reflects the growing demand for exclusive and distinctive vehicles. With limited units available, this special edition is set to attract enthusiasts looking for a unique SUV. Bookings for the STEALTH Edition opened on February 21, both online and at Tata dealerships across India, giving customers the chance to own a rare and stylish addition to Tata’s lineup.
The Harrier and Safari STEALTH Edition stand out with their bold design and advanced features, built on the sturdy OMEGARC platform derived from Land Rover’s D8 architecture. The exclusive Matte Black finish, R19 Black Alloy Wheels, and a distinctive STEALTH mascot give these SUVs a powerful road presence. Inside, the cabin is designed for comfort with ventilated first- and second-row seats (Safari only for the second row), a Carbon-Noir interior theme, and a voice-assisted dual-zone climate control system.
Technology is a highlight, featuring a 31.24 cm Harman touchscreen, Arcade App Store, Alexa Home 2 Car, Map My India navigation, and a 10-speaker JBL audio system with Harman AudioworX. Power comes from a 2.0L KRYOTEC BS6 Phase 2 turbocharged engine producing 170PS, paired with a 6-speed automatic transmission. Safety is a priority, with Level 2+ ADAS offering 21 functions, including a segment-first Intelligent Speed Assist, along with 7 airbags and ESP with 17 safety features.
Unveiling this exciting new version of the Harrier and Safari, Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility Ltd., stated, “Tata Motors has been a leader in the Indian SUV segment, with innovation at its core. The Tata Safari, which introduced the concept of a lifestyle SUV to India, reflects this legacy of pioneering excellence. Over 27 remarkable years, the Safari has constantly evolved, and the launch of the STEALTH Edition is a tribute to this journey. This special edition is an exclusive offering, with only 2,700 units available in the striking STEALTH Matte Black finish. More than just an SUV, the STEALTH Edition is a symbol of prestige, adventure, and capability, making it a highly desirable collector’s item for enthusiasts and connoisseurs. Owning a STEALTH Edition isn’t just about having an extraordinary vehicle—it’s about claiming a piece of automotive history that many will aspire to have in their collection.”
Business
Maruti Suzuki’s New Mid-Term Plan Aims To Make India An Export Hub, Launch More EVs
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New Delhi: The Suzuki Motor Corporation of Japan, the parent company of Maruti Suzuki India, on Thursday announced a new mid-term plan with a “rethink” in its strategy as “the business environment has changed due to declining market share in India” and the growing electrical vehicles segment.
In its new mid-term plan for 2025-30, the company has identified India as its “most important market”. Maruti Suzuki aims to create a manufacturing capacity of producing 4 million cars annually to reclaim a 50 per cent market share in India and use the country as a global export hub as well.
The auto major plans to expand its EV lineup starting with the e-Vitara, and is aiming to launch four new EV models by FY30 in a segment where its rivals like Tata Motors and Mahindra & Mahindra already have a varied EV portfolio in India.
“In India, we will promote further localisation in line with the growth of the electric vehicle market,” the company said.
Maruti Suzuki is currently exporting three lakh vehicles from India annually. By the end of this decade, it is targeting the export of 7.5-8 lakh units per year.
While the company noted it achieved revenue and profit targets ahead of schedule by improving sales mix and quality, its sales volume target could not be met.
It noted that the “competitive environment is becoming increasingly severe, and the quality of product functions, equipment and services required by customers is increasing”.
It aims to be India’s no.1 carmaker in terms of production, local sales and exports of electric cars. A total of six electric vehicles will be introduced by FY30, including four electric cars and two commercial vehicles.
Suzuki Motor plans to invest 1,200 billion yen (about Rs 7,000 crore) as capital expenditure towards production, new models, carbon neutrality and quality measures. A new plant in Haryana’s Kharkhoda and an assembly line in Suzuki Motor Gujarat will come onstream by 2030 for a total installed capacity of four million units.
Business
‘Made in India’ iPhone 6e not SE variant but a next-gen entry point for consumers
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New Delhi, Feb 20: In a further push to the local manufacturing, the entire iPhone 16 lineup, including the newly-launched iPhone 16e, is now being assembled in India for domestic market as well as for exports, as industry experts on Thursday cleared the air around the new device being compared to now-retired iPhone SE.
The new Apple device, with A18 chip, breakthrough battery life, Apple Intelligence, and a 48MP 2-in-1 camera system, is being manufactured/assembled for local consumption as well as for export to select countries.
According to experts, iPhone 16e is not iPhone SE4 and the whole “comparison is futile”.
When iPhone SE was launched, it was another masterstroke at that time. However, times have changed since then.
“Essentially, Apple retired the SE lineup and extended the iPhone 16 lineup with a new entry point. iPhone SE was no longer adding any value to consumers, developers or Apple,” said Neil Shah, Partner and Co-Founder at Counterpoint Research.
The iPhone SE which was positioned as a “Special Edition,” which brought nostalgia of older and smaller design, was priced around $400.
However, the iPhone SE lost its value and popularity, which used to be once 16 per cent of the total iPhone sales volumes, dropped to 1 per cent last year.
According to Shah, consumers now prefer better cameras, bigger displays and faster processors.
“With all this background, what Apple did was to extend the 16 series with a newer ‘base version’ of iPhone 16 and now retired SE,” Shah explained.
According to industry experts, the company has done well with streamlining the series, reducing fragmentation in design and experience and able to charge $599 (US)/Rs 59,999 (India) with the newest entry point for the best Apple experiences.
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