Tag Archives: india

Tata Consumer Products has strongly refuted a recent report claiming that Starbucks is planning to exit the Indian market due to high costs, losses, and growing competition from local coffee chains. The report, published on December 19 by Rajasthan-based media outlet The Philox, suggested that Starbucks could soon shut down operations in India, citing price-sensitive Indian consumers’ preference for cheaper local substitutes and the coffee chain’s struggle to turn significant profits in the country.

India is set to launch a new scheme offering up to $5 billion in incentives to companies that manufacture key electronic components locally. This initiative, aimed at reducing the country's reliance on China for electronics supplies, comes as India’s electronics production has more than doubled over the past six years, reaching an impressive $115 billion in 2024. The scheme is expected to be unveiled in the next two to three months.

In a significant policy shift, the Indian government has lifted the ban on the export of non-basmati white rice effective immediately, as announced in a recent notification. The ban was originally imposed in July 2023 to ensure domestic rice supply and control prices amid concerns about food security.

In a landmark decision, the Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a series of ambitious space missions totaling ₹31,772 crore, marking a significant boost to India's space exploration capabilities. The approval encompasses a comprehensive roadmap for the Indian Space Research Organisation (ISRO) extending up to nearly 2040.

The Sri Lankan government has announced a new visa policy that will grant visa-free access to citizens from 35 countries, including India, beginning October 31. The decision, aimed at boosting tourism, was approved by the Cabinet and marks a significant step in Sri Lanka’s efforts to attract more visitors to the island nation.

India's start-up ecosystem has reached a significant milestone with over 1.4 lakh registered start-ups across the country, as highlighted by Union Minister of State for Commerce and Industry, Jitin Prasada, in the Rajya Sabha on Friday. The Department for Promotion of Industry and Internal Trade (DPIIT) recognized start-ups data shows Maharashtra leading with a total of 25,044 registered start-ups.

Maldives President Mohamed Muizzu has expressed gratitude to India and China for their support in easing the country's debt repayment burden, enabling the Maldives to assert greater economic sovereignty. Addressing the official Independence Day function in the Maldives on Friday, Muizzu praised his administration's foreign policy and highlighted eight months of "diplomatic success."

Airbus Helicopters has shortlisted eight potential sites in India for establishing a final assembly line (FAL) for its H125 chopper, marking the company’s fourth such facility worldwide. The new production line, a partnership with Tata Advanced Systems Limited (TASL), is set to be the first private-sector civil helicopter assembly line in India.

India's Chief Scientist, Professor Ajay Kumar Sood, has unveiled a comprehensive roadmap aimed at propelling India to the forefront of the global electric vehicle (EV) revolution. Highlighting the urgent need for investment in research and development (R&D), Professor Sood asserted that a ₹1,200 crore infusion could pave the way for significant advancements in e-mobility within the next five years.

In a bullish forecast for India's air-conditioning (AC) industry, Blue Star has projected that it could double in value over the next four years, driven by expanding middle-class demand and rising disposable incomes in smaller Tier III, IV, and V markets.