Industry News

PayTm in talks with ICICI Group and Citibank

PayTm the prominent player in mobile wallet and e-commerce marketplace space is talking to many leading financial & banking players in the country.

Godrej & Boyce now owns 51% stake in accessories brand ‘India Circus’

Godrej & Boyce has acquired a 51 percent share in ‘India Circus’, which offers contemporary and affordable home décor and personal accessories. This acquisition intends to strengthen India Circus’s market position in domestic and international markets and at the same time supplement the home furnit

Volkswagen moves ahead to prevent another diesel scandal

Volkswagen AG is working on a new ideology and providing developer more responsibility and time for observing the car through different stages to the end of production in order to prevent another diesel scandal.

Freecharge targets US$ 3 Billion business in next fiscal

Snapdeal acquired digital payments platform -freecharge has set the target of next fiscal. The company is aiming three-fold upsurge in the Gross Merchandise Transactions to reach US$ 3 Billion.

Evonik and AkzoNobel to start membrane electrolysis plant in Ibbenburen, Germany

Evonik Industries, a Germany based specialty chemicals company, announced the construction of a new membrane electrolysis manufacturing plant in association with AkzoNobel in Ibbenburen, Germany.

Indulekha Gets the New Owner

Unilever has always been very keen on making acquisitions globally in the natural products segment and the company has achieved a breakthrough in India as well. Moson’s group personal care brand Indulekha has got the new owner -Hindustan Unilever and will flourish under this new umbrella.

Microsoft pledges $1 Billion of Cloud Computing resources for ‘Public Good’

The technology giant, Microsoft committed to provide Cloud Computing Services including CRM Online, Microsoft Azure, Enterprise Mobility Suite, Power BI, and so on with nonprofit and university research projects, over three years.

Clariant & Chicago Bridge and Iran Company to develop dehydrogenation unit in Dalian, China

Hengli Petrochemical (Dalian) Refinery awarded a contract to Clariant and CB&I (Chicago Bridge and Iran Company) to develop a propane and butane dehydrogenation unit in Dalian, China. Under the project, the two companies would be designing and licensing the co-processing unit. Wherein, Catofin cata

Renault to recall around fifteen thousand new cars in emission scare

French car maker, Renault, calls around 15,000 diesel-engine SUV’s after a fault was identified in their emissions-reduction system. The recall maybe be limited to the 110-hp diesel version of the Captur subcompact crossover. Company has lost around USD3.6 billion in market value since last Thursda

BAGRRY’S, oldest cereal maker to enter into quick service retail

Country’s oldest Bagrry’s India Ltd which is into cereal maker from past 2 decades, is finally entering into food retailers segments which can provide quick service in their restaurants offering healthier food options. Hence therefore rising competition levels for food chains like KFC and McDonald’

Reliance Communications and Reliance Jio entered into 4G spectrum sharing agreement

Reliance Jio, a Mukesh Ambani-led telecom company entered into the strategic partnership with Reliance Communications. The aim of the partnership is to provide high-speed telecom services in the country.

Camex Ltd. Signs agreement with Tianjin Yadong Longxin International, China

Camex Limited, a Gujarat based dye manufacturer signed a memorandum of understanding with Chinese dye manufacturer, that is, Tianjin Yadong Longxin International Limited for marketing and selling wide range of basic dye intermediates in India. The range of basic dye intermediated include H.acid,

Iran: Audi Plans to Sell its Luxury Cars in Iran Post Easing International Sanctions

Audi is planning to enter Iran automobile market with its luxury car segment. The company has been scaling the opportunity and growth potential in the Iran automotive market for luxury cars, as the P5+1 nations have lifted nuclear sanctions from Iran.

BAGRRY is oldest cereal maker to enter into quick service retail

Country is oldest Bagrry’s India Ltd which is into cereal maker from past 2 decades, is finally entering into food retailers segments which can provide quick service in their restaurants offering healthier food options. Hence therefore rising competition levels for food chains like KFC and McDonald

Godrej eyeing 10 percent share in hand wash and hand sanitizers segment

Emerging markets FMCG leader Godrej Consumer Products Ltd is aiming a 10 percent market share in the hand wash and hand sanitizers segment in coming years with its “Protekt Range” which was introduced in May 2014. The Brand includes three hand wash products, one hand sanitizer and one mosquito repe

IBM signed INR 2.6 Billion deal with BTI Payments

IBM, the multinational technology company entered into a INR 2.6 Billion deal with BTI Payments. The term of the project is seven years. IBM will provide ATM infrastructure management to the BTI payments which already runs over 3,000 white label ATMs in the country. The financial firm is planning t

Nokian Tyres to use Aramid Sidewall Technology

The Nokian tyre, a domestic tyre manufacturer in Finland has decided to switch to new Aramid Sidewall Technology for its SUV tyre range. From 2016, the company has decided to manufacture all its SUV tyre range, including which are already in the market, with its latest technology on the sidewalls c

ChemChina to buy KraussMaffei Group for USD1 Billion

China National Chemical Corp. (ChemChina), along with a group of investors, has agreed to acquire KraussMaffei Group, a Germany based manufacturer of plastic and rubber processing equipment, for USD1 billion.

Country’s Largest Lender, SBI, Partners with Snapdeal to Offer Loans to E-Commerce Sellers

State Bank of India, largest lender of the country, is launching SBI e-Smart SME, in partnership with one of the e-commerce major, to offer convenient working capital to e-commerce players.

HPCL and GAIL to enter in a joint venture for a petrochemical project in Andhra Pradesh

CII Partnership Summit took place in Visakhapatnam on 12th January, 2016 in which upcoming large scale greenfield projects were announced for Andhra Pradesh. HPCL and GAIL announced to enter in a joint venture