 "Top headlines: Ola advances plan for IPO, Govt's FDI push in space sector")
DLI scheme 2.0: Centre considers picking up equity in chip design firms
The government has started discussing a proposal to support domestic Indian semiconductor chip design companies by taking equity stake, as a key element of the second phase of the design-linked incentive (DLI) scheme. The first phase of the scheme is currently on. While the modalities and the timing of the second phase of the scheme are yet to be worked out, the broader vision on which there is a consensus is to offer equity support to those domestic semiconductor chip design companies that have reached a certain maturity and have the potential to go to the next level or scale. Read more...
G20 FMCBG: Sitharaman for attracting pvt investment to develop urban infra
China — the world's largest bilateral creditor to low- and middle-income countries — is yet to come on board for a common understanding on debt resolution for such nations, said sources in the know about discussions at the third meeting of G20 Finance Ministers and Central Bank Governors (FMCBG) here. The debt crisis, a priority area for India in G20 discussions, has been aggravated following the Covid pandemic, and talks have taken place between the World Bank, the IMF, and China, as well as private lenders. The sources said some G20 nations are not keen on a one-size-fits-all thumb rule to restructure debt of vulnerable countries. Read more...
Companies feel the heat of an unusual summer; demand drops for coal, ACs
It has been an unusual summer in India with conflicting weather patterns prevailing in different parts of the country, with variegated impacts on business. While the North had unseasonal rain, the East and South sweltered with a historically high number of “heatwave” days. But apart from the weather vagaries, these erratic events have upended the business cycle of several sectors, mainly agriculture, beverages, and consumer durables. Read more...
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Space start-ups over the moon with govt's FDI push, Isro's tech transfer
If successful, the Chandrayaan-3 mission may well boost the space start-up sector in India, which has seen the number of players increasing from a mere 21 in 2020 to 146 now, say industry experts. The government plans to give it a further boost by increasing the scope of foreign direct investment (FDI) in the sector, while the Indian Space Research Organisation (Isro) is aggressively increasing the pace of technology transfer to the private sector. Read more...
Ola Electric founder Bhavish advances plan for IPO as e-scooters take off
Ola Electric Mobility Pvt. is in line for an initial public offering sooner than its founder previously imagined, reflecting the Indian startup’s whirlwind pace of growth since it started selling electric scooters in late 2021. “I thought it would take me four to six years of revenue to go public,” Founder and Chief Executive Officer Bhavish Aggarwal said in an interview while sipping iced Vietnamese coffee in New Delhi’s bustling Connaught Place. “Now I can feel that it will be much earlier. Ola Electric has grown and matured faster than I had initially planned because the market response has been very strong.” Read more....