- Wednesday, March 05, 2025
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Tuesday, January 3, 2023:
German automotive group BMW on Tuesday reported record sales of its luxury cars and motorcycles in India at 19,263 units in 2022, PTI reported. Customer deliveries of cars of both brands BMW and MINI registered a growth of 35 per cent at 11,981 units last year, which was the highest-ever, BMW Group India said in a statement. BMW India registered sales of 11,268 units at a growth of 37 per cent and MINI India of 713 units, up 11 per cent from 2021, it added.
Yes Bank announced on Tuesday that it entered into an agreement with Microsoft to bring forth a next-generation mobile application (app) with a view to provide customers with a personalised banking experience, ANI reported. Yes Bank would leverage Microsoft’s Azure platform to create the app which will offer customers — a host of services such as online payments, shopping, rewards, offers and customised dashboards, in addition to traditional banking functions, according to a statement from the Bank.
Electric vehicle charger and lithium-ion battery maker Exicom on Tuesday said it signed an agreement with Hero Electric to supply its battery management systems, PTI reported. Under the agreement, Hero Electric intends to purchase 5 lakh units of Exicom BMS (Battery Management Systems) per annum, the company said in a statement. Exicom will provide intelligent BMS, built on multiple innovative technologies around remote health monitoring, multi-level safety checks to ensure that the battery operates within the safe operating area, it added.
BK Modi Group plans to invest about $1 billion over the next five years in Indian real estate and wellness space as it sees huge growth potential in these two sectors. In an interview with PTI, group founder B K Modi asserted that there is a tremendous scope of bringing new technologies in the real estate sector as well as wellness space. “We will be investing around USD 1 billion over the next five years,” he said when asked about the proposed investment in these new ventures.
India’s coal output went up by 16.39 per cent to 607.97 million tonnes (MT) during the April-December period of the ongoing fiscal, PTI reported. India’s coal production was 522.34 MT in the corresponding period of the previous fiscal. The coal production by state-owned Coal India — which accounts for over 80 per cent of domestic output of fossil fuel — was at 479.05 MT in the April-December period, registering a rise of 15.82 per cent, the country’s coal ministry said in a statement.
Telecom operator Bharti Airtel on Tuesday announced the launch of its 5G services in the city of Indore in the central Indian state of Madhya Pradesh, PTI reported. In a statement, the company said customers with 5G-enabled devices will experience high speed Airtel 5G Plus network at no extra cost until the rollout is more widespread. “Currently operational at Vijay Nagar, Rasoma chowk, Bombay Hospital Square, Radisson square, Khajrana area, Sadar Bazaar, Gita Bhawan, Panchsheel Nagar, Abhinandan Nagar, Patrakar colony, Yeshwant road, Phoenix Citadel mall and few other select locations, Airtel will augment its network making its services available across the city in due course of time,” the statement added. Airtel 5G Plus service will boost the entire portfolio of services that the telco offers.
