Author: News Desk
IndiGo has signed a $328 million financing agreement with global banking major Citi to fund the purchase of eight Airbus aircraft, strengthening its fleet expansion plans. The transaction, backed by credit insurance from Belgian export credit agency Credendo, marks a milestone for India’s aviation financing sector and the aircraft leasing ecosystem at GIFT City. The financing covers six Airbus A321 aircraft and two A320 aircraft. Citi acted as the sole mandated arranger, export credit agency coordinator and lender, while Credendo provided credit insurance to support the transaction. The deal was executed through IndiGo’s subsidiary, InterGlobe Aviation Financial Services IFSC Private…
US Secretary of State Marco Rubio is scheduled to visit India from October 17 to 22, as New Delhi and Washington continue efforts to advance their strategic partnership and resolve differences over a proposed bilateral trade agreement. According to the US Department of State, Rubio will meet senior Indian government officials to discuss bilateral relations, regional and global developments, and opportunities for expanded energy cooperation. He will also engage with business leaders to explore investment opportunities and strengthen economic ties. His itinerary includes Mumbai and Jamnagar in Gujarat. The visit comes as External Affairs Minister S Jaishankar has expressed cautious…
Hyundai Motor Group has announced plans to invest $15.5 billion in India between 2026 and 2032, strengthening its presence in one of the world’s key automotive markets. The seven-year investment programme will focus on expanding manufacturing, enhancing research and development, strengthening local supply chains and developing future mobility technologies. The investment will cover manufacturing expansion at Hyundai Motor India and Kia India. The group aims to increase production capacity to meet rising demand and strengthen India’s role as a global export hub. Hyundai Motor Group also plans to invest approximately $700 million in its Indian R&D centre, including a vehicle…
Indian cricketer Virat Kohli has made his debut on professional networking platform LinkedIn, using his first post to share his vision for India’s sports industry and his ambitions beyond cricket. The former India captain highlighted his association with Bengaluru-based Agilitas Sports and his role in building one8world, a sportswear brand aimed at expanding into global markets. Kohli has invested ₹40 crore in Agilitas Sports, securing a 1.94% equity stake in the company. He has also joined the business as an investor and become a co-founder and co-creator of one8world. The move signals a shift towards equity ownership and long-term business…
B R Shetty, founder of NMC Healthcare and UAE Exchange, has filed a lawsuit in the Bombay High Court seeking $15 billion in damages from state-owned Bank of Baroda (BoB) and 25 other defendants. The case concerns allegations of financial irregularities linked to his former business group, including fund diversion, concealed liabilities and disputed personal guarantees. The allegations have not been established in court. Shetty has divided his compensation claim into three parts: $5 billion for direct damages, $5 billion for consequential losses, including lost business opportunities, and another $5 billion from Bank of Baroda for alleged reputational damage and…
Zoho Corporation has frozen its annual salary hikes for 2026 as rising artificial intelligence (AI) expenses, higher server prices and an uncertain software market put pressure on its operations. Founder Sridhar Vembu announced the decision, citing increasing infrastructure costs and global geopolitical challenges affecting the technology industry. In a post on X, Vembu said server prices had increased fourfold, adding to the cost of running data centres. The company is also facing higher expenses as AI usage grows rapidly. These pressures have forced Zoho to reassess its spending priorities and suspend its usual annual pay increases this year. The company…
The National Highways Authority of India (NHAI) has made 15–20-minute documentary films compulsory for national highway development projects costing more than ₹500 crore. The initiative aims to document the construction process, highlight engineering achievements and give the public a closer look at the work involved in building major road infrastructure. Under the new directive, contractors and concessionaires responsible for highway projects must engage professional video production agencies to record the construction journey from the initial stages through completion and commissioning. The documentaries will be compiled using footage captured through monthly video recordings during construction. The films will cover key milestones,…
India’s Basmati rice exports to Iraq are set to receive a logistics boost through a new bulk-shipping initiative aimed at reducing freight costs amid rising transportation expenses and container shortages. The Indian Rice Exporters’ Federation (IREF) has introduced the initiative in collaboration with Singapore-based Eximwala Solutions Pte. Ltd. to improve the competitiveness of Indian rice in the Middle East market. The arrangement covers shipments of 1,02,210 metric tonnes of Basmati rice to Iraq across three vessels. According to IREF, the initiative aims to bring freight costs down from approximately $350 per tonne for container shipments to around $90 per tonne…
Volvo Cars India is considering raising vehicle prices as rising input costs and shipping disruptions put pressure on its operations. The Swedish luxury carmaker said geopolitical challenges have increased transportation expenses and extended turnaround times, making future price increases increasingly likely. Jyoti Malhotra, Managing Director of Volvo Car India, said higher shipping and logistics costs are affecting the company, particularly as the movement of components and other materials becomes more challenging. The company may eventually pass these additional costs on to customers if the situation continues. The potential price revision comes as automakers face continued supply-chain uncertainty and rising transportation…
Indian Railways is planning to expand its Vande Bharat sleeper train programme with a new 24-coach configuration designed for long-distance overnight journeys. The Integral Coach Factory (ICF) in Chennai has been assigned the task of manufacturing 50 such trainsets, with the rollout targeted for the first half of 2027 and June set as the proposed deadline. The proposed 24-coach version will build on the existing Vande Bharat sleeper design, which has a 16-coach configuration. The longer train is expected to offer greater passenger capacity and additional onboard facilities for overnight travel. A key addition will be a dedicated pantry car,…