- Thursday, March 06, 2025
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Thursday, November 10, 2022:
After the beta launch of Jio True-5G services in Mumbai, Delhi, Kolkata, Chennai, Varanasi and Nathdwara, Jio on Thursday announced that it extended Jio True-5G’s reach across two more cities, namely Bengaluru and Hyderabad, Asian News International reported. The telco said Jio users in Bengaluru and Hyderabad will be invited to its welcome offer to experience unlimited data at up to 1 Gbps+ speeds, at no additional cost. “Jio True-5G, in these two tech-centric cities, would help realise the true potential of some of the latest technologies that will serve humanity and improve the quality of life of Indians,” read an official statement. The leading service provider also said it was rolling out its advanced True-5G services in a phase-wise manner, to ensure the best customer experience.
If Korea’s outstanding manufacturing foundations such as electronics, automobiles, steel, are combined with India’s world-class information and communications technology (ICT) capabilities, this will contribute to the development of future industries, including EVs and batteries, as well as strengthen the resilience of regional supply chains, Republic of Korea’s deputy trade minister Jeong Dae-jin said on Thursday, ANI reported. The minister was addressing virtually during the India Korea Business Partnership Forum, which was organised by Confederation of Indian Industry (CII) in partnership with Korea International Trade Association (KITA). Jeong further said, “There is a huge potential for cooperation in the clean energy sector, when it comes to realising carbon neutrality. Under our carbon neutrality goals, Korea and India are endeavouring to reduce greenhouse gas emissions through the deployment of renewable energies as well as the expansion of the hydrogen economy.”
SKODA AUTO India celebrated the last quarter of 2022 with an international congregation in the picturesque backdrop of the Himalayas in Dehradun, ANI/BusinessWire India reported. The Peak-to-Peak Drive showcased the achievements of the company and its India-made products to a large gathering consisting of automotive experts from India and around the world. SKODA AUTO India also commemorated the full 5-star crash safety ratings for the KUSHAQ at the recently-conducted GNCAP crash tests. Petr Solc, brand director, SKODA AUTO India said, “Usually, we call the world to our MladaBoleslav headquarters and showcase our products. It gives me great pleasure and pride to invite the world to India to showcase our India-developed and India-made products, which have proven themselves on the world stage. It was an incredible few days for all of us at SKODA AUTO India, interacting with experts from India and the world.
Leading shoemaker Bata India on Thursday reported a 47.44 per cent rise in consolidated net profit at Rs 54.82 crore (£5.8 million) in the second quarter ended September 2022, helped by increased footfalls at stores, PTI reported. The company had posted a net profit of Rs 37.18 crore (£3.9 million) in the July-September quarter a year ago, Bata India Ltd said in a BSE filing. Its revenue from operations during the quarter under review was at Rs 829.75 crore (£88.11 million), up over 35.11 per cent from Rs 614.12 crore (£65.2 million) of the corresponding quarter of FY22. Bata India’s total expenses in the September quarter were at Rs 769.56 crore (£81.7 million), up 33.73 per cent. ”Despite tough operating environment and significant material inflation, the company managed to drive broad volume driven revenue growths across business channels of retail/franchise/distribution/e-comm,” said Bata India in its earnings statement.
Navratna Defence PSU Bharat Electronics Ltd (BEL) has signed an MoU with Goa Shipyard Limited (GSL) for joint development of products/solutions in the area of autonomous navigation and associated fields, PTI reported. The MoU aims at leveraging the complementary strengths and capabilities of the two companies, the Bengaluru-headquartered BEL said in a statement on Thursday. “It will enable BEL and GSL to jointly work towards development of products/solutions in the fields of autonomously navigated vessels and derivatives thereof, digital control and simulation of ships, networking of vessels and any other identified area for both Defence and civilian applications in domestic and international markets,” it said.
