- Tuesday, April 29, 2025
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Wednesday, November 23, 2022:
Japanese tyre maker Bridgestone has appointed Stefano Sanchini as the head of its India operations with effect from January 1 next year, Press Trust of India reported. He will replace Parag Satpute, who will be heading to Amsterdam (the Netherlands) to assume a new global role in Bridgestone’s Solutions Business, the company said in a statement. Sanchini is currently VP Region Middle-East and Africa, (MEA). Satpute will relinquish his current charge on January 1, 2023 and Sanchini will assume his role from the same date, the company said. “As we move into new technologies and mobility solutions, the Indian market is going to be a focus area and I am happy to be here as we spread out these solutions to the vast Indian customer base,” said Sanchini.
Rajiv Kumar, the former vice-chairman of the Niti Aayog, has joined the policy and advisory board of property consultant India Sotheby’s International Realty, PTI reported. Kumar will advise the company on policy and advocacy matters with the objective of promoting transparency and professionalism in the real estate sector, India Sotheby’s International Realty (ISIR) said in a statement. He will also be guided on the next phase of growth in the region, including the evaluation of new opportunities in the sector, said Amit Goyal, CEO, India Sotheby’s International Realty. “India Sotheby’s International Realty is a premier organisation in the real estate advisory and transaction segment. We all know that the realty sector is a major driver of economic growth in the country. Transparency and professionalism are key to a healthy growth of the real estate sector and these are also the core values at ISIR,” Kumar said.
The Free Trade Agreement is a win-win for both India and Australia as it would open up the Indian market for quality Australian wines and also help the Indian wine industry evolve while further benefiting from the expertise and investment from their Australian counterparts, said Vinod Giri, Director General, Confederation of Indian Alcoholic Beverage Companies, Asian News International reported. The Confederation of Indian Alcoholic Beverage Companies welcomed the ratification of the India-Australia FTA by the Australian Parliament and said this would take the trade ties between the two nations to newer heights. Giri said quality Australian wines would certainly benefit from easier market access to India and the Indian wine industry would gain from the technical collaboration and potential investment coming from Australia.
Carmaker Stellantis is exploring opportunities to build compact electric vehicles (EV) in India for export, but is yet to take a final decision, its chief executive Carlos Tavares said on Wednesday, Reuters reported. “So far, Europe is unable to make affordable EVs, so the big opportunity for India would be to be able to sell EV compact cars at an affordable price,” Tavares said at an event in the southern Indian city of Chennai. “This is what we are working out but it is not decided. This is what we are trying to do.”
Indian billionaire Gautam Adani is considering raising roughly $5 billion and has approached sovereign wealth funds after lenders asked his conglomerate to reduce leverage, Bloomberg News reported on Wednesday, citing people familiar with the matter, Reuters said. The network of companies owned by Asia’s richest person has reached out to top officials at firms including Abu Dhabi state fund Mubadala Investment Co and Abu Dhabi Investment Authority about investments, the report said. The Adani Group did not immediately respond to a Reuters request for comment. The group is looking to other large investment funds in the Middle East as well as in Canada to invest, the Bloomberg report said, adding that there has also been talks to raise as much as $10 billion.
