- Monday, March 10, 2025
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Monday, September 12, 2022:
The current round of gas crisis in Europe is expected to create a fresh round of inflationary pressures in food and transport prices, said SBI Research in its latest report, adding that the prices of fertilizers and its raw material would remain elevated during the financial year 2022-23, Asian News International reported. The galloping gas prices in Europe have made the world pause and catch a breath in mid-August, amidst a war seemingly entering a deceptively ‘deadlocked zone’ as benchmark gas prices spiked five times their prices at the start of the year (and, almost 14 times their 10 years average prices) with gas supply through Nord Stream1 drying up fast, the report said while describing the overall energy situation.
India’s industrial growth, as per the Index of Industrial Production (IIP), slowed in July to 2.4 per cent from 12.7 per cent the month before, data released by the country’s ministry of statistics and programme implementation on Monday showed. The July industrial growth figure, which was well below the consensus estimate, is the lowest in four months. According to a Moneycontrol poll of 17 economists, IIP growth would slow to 4.1 percent.
The Tata group has made an offer for a stake in Bisleri International, India’s biggest packaged water company, The Economic Times reported on Monday citing informed executives. “The Tata Group has made the offer to Bisleri for a stake acquisition which it wants to scale up eventually,” one of the executives was quoted as saying. “This would give the Tatas a massive foothold in packaged drinking water across the entry-level, mid-segment, and premium packaged water categories, and a ready go-to-market network across retail stores, chemist channels, institutional channels, including hotels, restaurants and airports, besides bulk-water delivery, since Bisleri mineral water leads across each of these channels,” the executive told the Times.
Tatas-owned Air India on Monday said it will progressively induct 30 new planes, including five wide-body Boeing planes, from December, as the carrier looks to boost both its domestic and international services. The new aircraft will increase the airline’s fleet by over 25 per cent, reports said. Excluding the 10 long-grounded narrow-body and 6 wide-body aircraft that have been returned to service in recent months, the new aircraft mark the first major fleet expansion since the Tata Group acquired Air India earlier this year. The aircraft being leased include 21 Airbus A320neos, four Airbus A321neos and five Boeing B777-200LRs.
American Express Banking Corp. (AEBC) on Monday announced the appointment of Sanjay Khanna as the chief executive officer (CEO) and Country Manager, AEBC Corp., India, ANI/NewsVoir reported. Khanna heads the country executive team and is responsible for driving growth across the organization’s consumer and commercial businesses. In his new role, Sanjay will also spearheads several strategic and business development initiatives for the company while steering smooth collaboration across its diverse businesses in India. His position will be key to advancing and strengthening the company’s strategic focus in India.
