 "Top headlines: 'INDIA' bloc to begin 2-day meet, dry Aug may slowdown FMCG")
Millions of dollars were invested in some publicly traded stocks of India's Adani Group via "opaque" Mauritius funds that "obscured" involvement of alleged business partners of the Adani family, the Organised Crime and Corruption Reporting Project (OCCRP) said in an article on Thursday. Citing review of files from multiple tax havens and internal Adani Group emails, nonprofit media organization OCCRP said its investigation found at least two cases where the investors bought and sold Adani stock through such offshore structures. Read more....
Opposition bloc 'INDIA' to begin its two day meeting in Mumbai today
The united Opposition bloc, the Indian National Developmental Inclusive Alliance (INDIA), will begin its two-day meeting in Mumbai on Thursday. At the meeting, its third since it started its parleys in Patna two months ago, the bloc will pick members of an 11-member central coordination committee and the location for its secretariat in the national capital. It will also announce the names of its chairperson and convenor and release a logo of the grouping. Congress President Mallikarjun Kharge will be the frontrunner for the chairperson’s position, if Sonia Gandhi, the chairperson of the erstwhile United Progressive Alliance (UPA), declines to take that role, given her poor health. Read more....
HP, Dell, Lenovo among 38 firms to apply under IT hardware PLI 2.0
In a big win for the government’s revised information technology (IT) hardware production-linked incentive (PLI) scheme, a total of 32 companies have expressed interest in commencing manufacturing of personal computers (PCs), laptops, tablets, servers, and edge computing devices within the country. Major global PC manufacturers, including Dell, Hewlett Packard, Foxconn (via a subsidiary), Asus, Acer, and Flex, have submitted their applications ahead of the Wednesday deadline. Read more....
While the Gati Shakti mission addresses critical infrastructure challenges in the country, an unassuming institution located in Gandhinagar, Gujarat, plays a pivotal role as its technological bedrock. This hub, the Bhaskaracharya National Institute for Space Applications and Geoinformatics (BISAG-N), serves as the wellspring of everything, from on-ground intelligence through geospatial imagery to real-time application programming interfaces (APIs) for various ministries. Read more....
India's record dry August may push domestic FMCG sector in slow lane
India is expected to exit August on a dry note as the country is poised to see its driest month since 1901, according to news reports. This is putting consumer companies on edge as demand recovery comes under threat. Rural demand had just started to move back into positive territory after being under pressure for over a year. NIQ said in its Fast Moving Consumer Goods (FMCG) Snapshot for the June quarter that the industry in India grew at 12.2 per cent in value, compared to 10.2 per cent growth in the previous quarter and 10.9 per cent in the year-ago period. The quarter also saw an overall volume growth of 7.5 per cent, the highest in eight quarters. Read more....