India’s Foreign exchange reserves crossed half a trillion Dollars despite worsening economic conditions. Is that even possible? And the Rupee is showing no signs of strengthening. Why isn’t the RBI intervening and helping the rupee gain a little? (RBI sometimes intervenes and sells dollars in the open market if the rupee is sliding, so as to increase the supply of dollars and in turn making the rupee stronger) Let’s learn a little about what constitutes Forex reserves and how do increasing Forex reserves safeguard the economy?
Bleeding edge - With so many companies on the bleeding edge, it’s no wonder the economy is hemorrhaging. Overstatements such as this inspire skepticism. Instead, talk about your groundbreaking business model or a new approach.
Reliance to Offer stake in Retail Arm to Amazon.
Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon. Reliance is willing to sell as much as a 40% stake in the subsidiary to Amazon.
India Considers a $23 Billion Package to Lure Global Manufacturers.
India is planning to offer incentives worth Rs1.68 trillion. Govt. will offer PLI to automobile manufacturers, solar panel makers, and specialty steel to consumer appliance companies
Happiest Minds IPO subscribed 150 times.
The company, which was seeking to raise ₹702 crore through in its IPO, has received bids for ₹105-lakh crore. Anchor investors had put in around ₹316 crores last week.
Japan’s Orix to Buy stake in India’s Greenko Energy.
Orix Corp. has agreed to buy a roughly 20% stake in Indian renewable energy developer Greenko Energy Holdings for $980 million, the Japanese conglomerate’s biggest investment in the sector overseas.
India slips 26 spots on the economic freedom index.
India has fallen 26 spots to the 105th position on the Global Economic Freedom Index 2020. The country was at the 79th spot in last year's rankings.
Govt panel clears proposal to export made in India phones worth $100 billion
The empowered committee has approved all applications estimated to export around $100 billion worth mobile phones under PLI and all the applications will be placed before the cabinet probably this week.