News

India Bans Single-use Plastic: Here Is The Product List And Other Details

India Bans Single-use Plastic: Here Is The Product List And Other Details

Plastic Ban: Ministry of Environment, Forest and Climate Change on 28 June has notified that government will ban single-use plastic across the country from July 1.  “India will ban manufacturing, import, stocking, distribution, sale and use of single-use plastic items, which have low utility and high littering potential, all across the country from July 1,…

Mukesh Ambani Resigns From Board Of Reliance Jio 

Mukesh Ambani Resigns From Board Of Reliance Jio 

Reliance Jio Infocomm on Tuesday said that Mukesh Ambani has stepped down from the chairmanship of the Board and approved the appointment of his elder son Akash Ambani as the new chairman of the company.  The resignation of Mukesh Ambani, one of the richest people in India, is effective from the close of the working…

Ola Electric HR Director Quits, Another High-profile Exit

Ola Electric HR Director Quits, Another High-profile Exit

Ola Electric, India’s well-known startup, continues to see resignations. The latest exit from the company is Ranjit Kondeshan, Director HR, who joined the company in May 2021 and decided to move on in just 14 months of joining.   Ranjit has a total experience of 18 years. Prior to this, he worked at Visa as Director…

ONGC Gets Director On HPCL Board After 5 Months

ONGC Gets Director On HPCL Board After 5 Months

After five months, Oil & Natural Gas Corporation (ONGC) has finally appointed a director on HPCL (Hindustan Petroleum Corporation Ltd.) The Ministry of Petroleum and Natural Gas on June 22, conveyed its consent for Pankaj Kumar as director, according to the regulatory filings by HPCL.  For the five months, ONGC had no representatives on the…

India Is Facing Most Challenging Economic Situation

India Is Facing Most Challenging Economic Situation

According to Hindustan Unilever (HUL) chairman Nitin Paranjpe, India is facing the most difficult economic situation that results in inflationary demand.  This has prompted fast-moving consumer goods (FMCG) buyers to temporarily cut back on purchases through a period of price stickiness, which was declared ‘rare’ by the company.  “India is going through probably the most…

Government To Begin Development Of Enterprises And Services Hubs 

Government To Begin Development Of Enterprises And Services Hubs 

India is planning to expand its limited Special Economic Zones (SEZs), which are presently focused on exports, into all-encompassing economic hubs with the motive to draw in more foreign investment.    According to a draft released for consultation and industrial units situated in these hubs, which would be known as Development of Enterprises and Services Hubs…

Jain Irrigation Ltd. To Merge With Rivulis To Overcome Debt

Jain Irrigation Ltd. To Merge With Rivulis To Overcome Debt

Jain Irrigation System Ltd., on Tuesday, said that its global irrigation business would be merged with Temasek-owned Rivulis in a cash-and-stock deal. The company took this move to reduce its debt by 45%, or Rs 2,500 cr.  Jain Irrigation’s global business has been valued at Rs 4,200 cr. of which Rs. 2,7oo will be used…

Sri Lanka Closed Schools and Halt Non-essential Govt Services Amid Economic Crisis

Sri Lanka Closed Schools and Halt Non-essential Govt Services Amid Economic Crisis

Sri Lanka is in heavy debt and has been confronting a financial crisis for a long time. Due to this, now the country has begun a two-week shutdown, followed by closed schools and halted all non-essential services. The country took this step to conserve fast-depleting fuel reserves. The International Monetary Funds opened the talks with…

Mahindra Group Appoints Abanti Sankaranarayanan as Chief Group Public Affairs Officer

Mahindra Group Appoints Abanti Sankaranarayanan as Chief Group Public Affairs Officer

Mahindra Group announced the appointment of Abanti Sankaranarayanan as Chief Group Public Affairs Officer, where she will be responsible for the Group Public Affairs (National & International), Group Sustainability and Group Risk & Economist Functions. In addition to this, she will be a part of the Group Executive Board and report to Dr Anish Shah,…

Out Of 100 India’s Unicorns, Only 18 Have Yielded Profit

Out Of 100 India’s Unicorns, Only 18 Have Yielded Profit

Google-backed neobank Open became the 100th unicorn of India with a $1 billion valuation. There are a total of 100 unicorns in India, including Mamaearth, EaseMyTrip, Ola, and Flipkart to name a few. But how many of these are profitable?  According to the statistics from the media portal, only 18 unicorns have achieved profitability. Reports…