- Thursday, March 13, 2025
By: Shubham Ghosh
HERE are news in brief about Indian economy and business for Wednesday, July 6, 2022:
RBI announces measures to boost forex inflows amid rupee’s fall: India’s central bank — The Reserve Bank of India (RBI) — on Wednesday announced measures to boost foreign exchange (forex) inflows amid the rupee’s slump. The RBI has been closely monitoring the forex market’s liquidity conditions and has stepped in to alleviate dollar tightness to ensure an orderly market functioning, it said in a statement.
Reliance Retail to bring US fashion brand Gap to India, signs long-term franchise pact: Reliance Retail Ltd has inked a long-term franchise agreement with US fashion brand Gap Inc to bring its products to India, a statement said on Wednesday. Under the pact, Reliance Retail becomes the “official retailer for Gap across all channels in India”, it said, adding that the company would use a mix of exclusive brand stores, multi-brand store expressions, and digital commerce platforms to bring Gap’s latest offerings to Indian shores.
India’s export curbs, tax hike to exacerbate global diesel, gasoline shortage: India’s latest measures aimed at boosting domestic oil supplies could reduce its diesel and gasoline exports in the second half of the year, keeping global supplies tight and underpinning prices, traders and analysts said, Reuters reported.
Petronas Hydrogen and Continental Automotive to invest ₹32,000 crore in Karnataka: Petronas Hydrogen and Continental Automotive Components India have signed a memorandum of understanding with the government of the southern Indian state of Karnataka government to invest ₹32,000 crore in the state, the Hindu BusinessLine reported.
BMW Group India registers highest half-yearly performance: BMW Group India has recorded the best-ever half-yearly sales performance by delivering 5,570 cars and 3,114 motorcycles between January – June 2022, ANI/BusinessWire India reported. BMW, MINI and BMW Motorrad achieved their highest H1 deliveries. Vikram Pawah, President, BMW Group India said, “Against all odds, BMW Group is taking rapid and consistent strides in India. Despite the turbulence caused by various factors in the domestic and international market, we have achieved the best-ever half-yearly sales performance for BMW, MINI and BMW Motorrad.”
Vani Moto eyes extensive electric vehicle (EV) service, repairing network: To ensure EV owners can access service and repair easily, Gujarat-based Vani Moto Private Limited has embarked on a journey to establish EV service and repairing centres. Apart from EV manufacturing and sales, Vani Moto is the only company in India to set up a network of EV service and repair centres.
NR Group bags the Top Exports Award for Agarbathi: NR Group, the manufacturer of Cycle Pure Agarbathi has won the Top Exports Award for Agarbathi as handicrafts for 2 consecutive years at the National Awards for exports held by the Export Promotion Council for Handicrafts (EPCH) 23rd Handicrafts Export Awards in New Delhi, ANI reported.
