MotherCare, the baby and maternity clothes retailer that annually sourced garments worth Rs 100 crore from a single exporter in Tirupur, filed for bankruptcy in the UK and will close all its 79 shops in that country. It was the latest world-famous brand to pull down Tirupur's fortunes.
Not just from the likes of Alibaba and Didi Chuxing, Indian startups saw a surge in Chinese funding from financial investors in 2019. This is a seven-fold jump from $459 million in 2016.
The year ended with the launch of the PSLV's 50th mission.
The new entrants in Tamil Nadu politics, actor-turned-politicians Rajinikanth and Kamal Haasan, have decided to stay away from the elections, reports T E Narasimhan.
A nationwide and compulsory switch to BS-VI is due from April 1, 2020. Amid increase in input and other costs, companies had decided to increase the price of their vehicles from January 2020. This is expected to push sales of passenger vehicles by 2 to 4 per cent in December; reportedly, bookings are in that range.
Mahindra will serve as a mentor and sounding board for the managing director on issues to be presented to the board, especially in the areas of strategic planning, risk mitigation and external interface. In addition, he will be available to provide feedback and counsel to the managing director on key issues facing the enterprise.
Pepsi is betting on Dabangg 3's box office success.
At a time when investors are taking a "wait and watch" approach on fresh investment, Tamil Nadu in the past 10 months has signed 63 MoUs, enabling investment worth Rs 19,083 crore. After Palaniswami took over as chief minister in February 2017, cumulative FDI rose by Rs 46,427 crore from Rs 133 trillion (April 2000 to March 2017) to Rs 180 trillion by June this year. Thanks to the Tamil Nadu Business Facilitation Act, 2018, and the single window for applying and getting clearance for doing business, the ease of business issue has been addressed.
Europe's leading car maker, Groupe PSA, officially announced its re-entry in India this April with the Citroen brand. Citroen C5 Aircross SUV will challenge the likes of Mahindra XUV500, Tata Harrier, Hyundai Tuscon, Jeep Compass and the upcoming MG Hector. The C5 Aircross will be the first of several differentiated products from the company's vehicle manufacturing unit in Tiruvallur, Tamil Nadu.
Global exports of coffee in October 2019 fell by 13.4 per cent, to 8.91 million bags, compared to the same month in the previous year. A mix of factors, including unfavourable weather patterns and prolonged low international prices, have contributed to a decline in shipments across all regions. The daily price of the ICO composite rose from $102.74 cents/lb at the beginning of November to a high of $111.86 cents/lb on November 25, 2019, before closing the month at $111.77 cents/lb.
The $306-million investment in Ola Electric Mobility by SoftBank Corp, Arun Sarin Family, Ratan Tata and Matrix has been the biggest funding in this space in value terms this year.
Companies expect recovery in second half of fiscal as BS VI approaches, claim banks and NBFCs showing greater interest in financing.
Karnataka suffered a crop loss in around 97,365 hectares out of the total bearing area of 2,26,244 hectares of coffee and spices plantations.
TVS Motor Company, the only company in India to manufacture mopeds, said domestic sales dropped by 25.58% in April-Oct and exports fell by nearly 40%.
The automaker said that production at the Renault Nissan Alliance Plant, where Nissan, Renault and Datsun brands are manufactured, had gone up by 15 per cent and was expected to increase further on the back of increasing export orders.
To become part of the consumer's monthly shopping cart, Sugar Free has launched new formats and variants and waged war against online venom.
The development comes at a time when growing tension in US-China trade ties is forcing companies to explore alternative manufacturing sites in order to derisk operations.
Even as domestic passenger car sales declined 29.4 per cent between April and August this year, exports grew 6.5 per cent, partially cushioning the blow from slowing sales.
Some experts opine that green crackers are yet not practical and question government's move to promote them.
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