Reuters India Business

BENGALURU (Reuters) – Israel’s Tower Semiconductor has submitted a proposal to India’s government to build an $8 billion chipmaking facility in the South Asian nation, national daily Indian Express reported on Sunday. Tower, seeking government incentives for its plan, is looking to manufacture 65 nanometre and 40 nanometre chips in India, the report said. The …

Israel’s Tower proposes $8 billion chip plant in India – report Read More »

NEW DELHI (Reuters) – India’s JSW Group will set up electric vehicles and battery manufacturing projects in the country’s eastern state of Odisha at a cost of 400 billion rupees ($4.82 billion). The company and the state government have signed a memorandum of understanding “for the establishment of an Integrated Electric Vehicles (EV) And EV …

JSW Group to set up nearly $5 billion in EV projects in eastern India Read More »

SAO PAULO (Reuters) – Brazil’s Embraer and India’s Mahindra have signed a preliminary agreement to collaborate on securing orders for the C-390 Millennium military transport aircraft from India’s Air Force, the companies said on Friday. The Indian market is seen as key for Embraer’s defense unit as it looks to expand its presence abroad with …

Embraer, Mahindra to collaborate on winning orders for C-390 aircraft in India Read More »

(Corrects to say profit rose 51%, not 60%, in paragraph 1. The error occurred in an earlier version of this story series) BENGALURU (Reuters) – India’s Hero MotoCorp reported a bigger-than-expected 51% rise in third-quarter profit on Friday, helped by strong sales of its two-wheelers during the festive season, and declared its first special dividend …

India’s Hero MotoCorp beats Q3 profit view on festive demand; declares dividend Read More »

BENGALURU (Reuters) -Paytm will form an advisory committee on compliance and regulatory matters, the payments firm said on Friday, a week after India’s central bank ordered its banking affiliate to wind down. Former chairman of India’s markets regulator, M. Damodaran, will lead the panel, which “will work closely with the board”, Paytm said. Last week, …

India’s Paytm to form advisory panel on compliance, regulatory matters Read More »

MUMBAI (Reuters) – India’s non-banking financial companies (NBFCs) should be mindful of their underwriting practices and risks emerging from lending concentrated in one segment, a top central bank official said on Friday. “In pursuance of high growth, there seems to be tendency among the NBFCs to get the customers on board with oversimplified underwriting processes,” …

India non-bank lenders must watch underwriting, concentration risks – cenbank deputy Read More »