- Saturday, March 01, 2025
By: Shubham Ghosh
Here are news related to Indian economy and business for Wednesday, April 12, 2023:
Former Mahindra Group chairman and industrialist Keshub Mahindra on Wednesday passed away at the age of 99, confirmed Indian National Space Promotion and Authorization Centre (INSPACe) chairman Pawan Goenka. “The industrial world has lost one of the tallest personalities today. Shri Keshub Mahindra had no match; the nicest person I had the privilege of knowing. I always looked forward to mtgs with him and inspired by how he connected business, economics and social matters. Om Shanti,” he said in a tweet. In 1947, Mahindra had joined his father’s company that started by manufacturing and selling utility vehicles. He served as the chairman of the conglomerate between 1963 and 2012 after which he named his nephew Anand Mahindra as his successor.
India falls among the top five growth markets for Radisson Hotel Group, said Elie Younis, executive vice president and chief development officer, Radisson Hotel Group, on Wednesday, the Hindu BusinessLine reported. The Brussels-based hospitality chain has been present in India for more than two decades. Within the APAC and EMEA region, Radisson has more than 1,100 hotels. In India, it has over 110 operating hotels in 64 places, the report added.
Ahead of multiple G20 meetings in Goa, the Indian coastal state is witnessing fast-paced work on road repairs, infrastructure upgrade, beautification and waste management, PTI reported. India currently holds the Presidency of the G20, or Group of Twenty — an intergovernmental forum of the world’s 20 major developed and developing economies. A series of meetings on different issues related to the G20 are being held in states and Union Territories. Nodal Officer for G20 meetings in Goa Sanjit Rodrigues told reporters on Tuesday that results of the ongoing infrastructure-related works would be soon visible and they will ultimately benefit the people of the state.
The crime investigation department (CID) of the southern Indian state of Andhra Pradesh has asked central agencies such as the Enforcement Directorate and the income-tax department to probe the Margadarsi chit fund company, floated by media baron Ramoji Rao, for alleged violations of the chit fund law after it found that cash deposit records of the firm were “bloated and incorrect”, a senior state police officer said Wednesday, PTI reported. Additional director general of police, CID, N Sanjay told reporters in New Delhi that Margadarsi Chit Fund Private Limited (MCFPL) allegedly raised deposits “without permission of the RBI” and the company owned by Rao, chairman of Telugu news group ‘Eenadu’, “diverted” the amount collected from the depositors to the “risky stock market”. However, the company officials denied it was involved in any wrongdoing.
A series of reforms undertaken by the government coupled with efforts aimed at making it easier to do business has made India a land of opportunities, a top Indian industrialist has said, asserting that no global company can think about growth without India being a part of its plans. Subhrakant Panda, president of the Federation of Indian Chambers of Commerce and Industry (FICCI) said in the US that India is where it is today because of a couple of factors, including sustained reforms even during the Covid-19 pandemic. “You cannot think about growth without India being in your plans. It’s as simple as that. But if I were to expand on that a little bit more, where else in the world would you find an opportunity where you not only have a large unified domestic market, but also the resources to produce not just for the domestic market, but use it as an export base,” he told PTI on Tuesday.
The Uttar Pradesh government has set out to make the state a leader in the field of electric vehicles (EVs) in the country, ANI reported. Under the EV policy, the Yogi Adityanath government is not just focusing on encouraging the manufacturing of EVs, but also making serious efforts to provide proper charging facilities to the citizens, a statement said. The Yogi government has entrusted the urban development department with the responsibility of setting up EV charging stations as per the provisions of the policy while the department has started the process of extending the Comprehensive Electric Mobility Plan (CEMP) to 17 cities with municipal corporations as soon as possible under the Smart City Mission, a statement from the chief minister’s office said.
