- Saturday, March 01, 2025
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Monday, April 10, 2023:
Indian minister Jitendra Singh while addressing the National Innovation Awards on Monday said that number of startups in India grew by 300 times in the last nine years, ANI reported. Singh, who holds multiple important portfolios, was speaking at a function at the Rashtrapati Bhavan where National Innovation Awards, were presented to “Grassroot Innovators” by Indian president Droupadi Murmu. He said there were just around 350 startups before 2014, but after prime minister Narendra Modi gave a clarion call in 2016, there has been a quantum jump in their numbers to more than 90,000 with more than 100 unicorns.
Frigidaire, a US-based consumer electronics manufacturer, has entered the Indian market in partnership with Ossify, a homegrown consumer electronics brand, PTI reported. Part of Electrolux group, Frigidaire has ventured into the Indian market with its range of home appliances in segments such as air conditioners, washing machines, refrigerators, freezers, etc. Frigidaire, an over 100 years old company, continues to hold a dominant position in the North American market and is synonymous with innovation and cutting-edge technology.
After experiencing a positive response from the enthusiastic people of the southern city of Hyderabad, India’s renowned lifestyle furnishing brand Durian Furniture announced the launch of their second store in the city on April 2, 2023, just in time for the summer refresh, ANI/PNN reported. This expansive store spread across an area of 2,000 square feet, is situated in the Sarath City Capital Mall, the largest shopping destination of Hyderabad, and displays a diverse collection of high-quality luxury furniture pieces.
Toughees Telecom, a leading smartphone, tablet, and laptop sales and service provider in Delhi, NCR (National Capital Region), has announced its plans to expand sales and support centres in the cities of Mumbai and Bengaluru, ANI/SRV reported. This expansion marks a crucial milestone in the company’s efforts to reach its target, as they have achieved an initial turnover of 10 lakh (1 million) and have grown to a turnover of 10 crore (100 million) by 2022. Toughees Telecom provides a range of suitable and trouble — free services to its customers, including free shipping and delivery anywhere in the Delhi and NCR region, which makes it an easy process for its customers to receive their products with no extra charges.
Building on its 100-year legacy with technology at the centrestage, media conglomerate ABP Network is using a “mobile first approach” and “build for mobile devices” to become one of India’s fastest growing digital news publishers, says its chief digital officer Vijay Thapa, PTI reported. ABP Network’s vast digital footprint now extends to eight language websites, 20 YouTube channel and more than 40 social media handles catering to over 250 million users monthly across various languages in India and the world. “To thrive in the cutthroat digital news market, every publishing house must keep upgrading itself to stay ahead of the competition,” Thapa told PTI in an interview.
Shares of Indian automaker Tata Motors Ltd went up as much as 8.15 per cent to a seven-month high on Monday after its luxury car unit Jaguar Land Rover (JLR) reported strong fourth-quarter sales and forecast free cash flow of about $1 billion, Reuters reported. The company’s shares were the top gainer on India’s bluechip Nifty 50 index, which was up 0.33 per cent, and pushed the auto index up 1.16 per cent. JLR last week reported a 24 per cent jump in its wholesale volumes, excluding from China, in the January-March quarter. Retail sales grew 30 per cent as chip and other supply constraints eased.
