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☆ How Chinese EV makers are slowly taking over the world
▼ + stars: | 2024-06-22 | by ( Tom Carter | ) www.businessinsider.com time to read: +14 min

Chinese carmakers accounted for 88% of the EV market in Brazil and 70% in Thailand in Q1, according to ABI Research figures. The EV markets in many of these countries are small now, but they're growing rapidly. This is because Chinese automakers are known for their ability to build electric cars for less than their foreign competitors. Australian Senator and shadow cyber-security minister James Paterson said earlier this year that Chinese EVs pose a growing cybersecurity risk. "India is still a little wary of the Chinese market," said Dylan Khoo, an analyst at ABI Research.

Persons: —, BYD, Joe Biden, Bill Russo, Susan Walsh Sam Fiorani, Luiz Inácio Lula da Silva, São Paulo, Luiz Inacio Lula da Silva, Marcel Martin, Katherine Tai, Elon Musk, SONNY TUMBELAKA, They're, Automobility, Tesla, John Keeble, James Paterson, Fiorani, Indranil Aditya, Dylan Khoo, Warren Buffett, Xpeng, William Li, HECTOR RETAMAL, America's, Russo, WuYuan Organizations: Service, Detroit, EV, Business, Research, Ford, Toyota, Volkswagen, EU, AP, AutoForecast Solutions, Brazilian Electric Vehicle Association, Great Wall Motors, Anadolu Agency, Getty, International Council, Clean Transportation, Chery, Total, China Passenger Car Association, Reuters, Honda, Mitsubishi, International Energy Agency, Federal, of Automotive Industries, SAIC, AutoForecast, BYD, SAIC Motors, India's, ABI Research, Union Locations: Camaçari, Brazilian, Bahia, Brazil, Mexico, Southeast Asia, Europe, Thailand, China, Shanghai, EU, São, Johannesburg, South Africa, Southeast Asia Southeast Asia, Malaysia, Vietnam, Indonesia, Indonesia's West Java, Philippines, Australia, Hangzhou, Queensland, India India, India, Europe Europe, Hungary, France, Spain, Portugal, South Korea

☆ Modi is on a mission to assert India's global power. His election setback won't deter him.
▼ + stars: | 2024-06-05 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Read previewIndia's Prime Minister Narendra Modi emerged from Tuesday's election with his air of invincibility damaged. AdvertisementA leader of the global southUnder Modi, India's growth has put it on the path to becoming the world's third-biggest economy by 2027 — and it has become an important and increasingly abrasive global power player. He has sought to balance this by forming ties with US adversary Russia and has clashed with Asia's chief power, China. Advertisement"This election result is unlikely to have much of an impact on India's international security actions," said Rossow. Alexandr Demyanchuk/AFP/Getty ImagesBut there will be serious challenges for Modi in seeking to cement India's new global status.

Persons: —, Narendra Modi, Modi, Richard Rossow, Joe Biden, Dan Kitwood, it'll, Rossow, Modi's, Vladimir Putin, Alexandr Demyanchuk, Vladimir Putin's, Washington, China's Xi Jinping, Putin, Ashley J Organizations: Service, BJP, Business, Modi, UN Security Council, Center for Strategic, International Studies, India, US, UK, Washington Post, Indian, Shanghai Cooperation Organisation, Carnegie Endowment, International Peace Locations: India, Russia, China, New Delhi, Australia, Japan, Canada, Russian, Samarkand, AFP, Vladimir Putin's Russia, Ukraine, Pakistan

☆ India's high unemployment is a 'ticking bomb,' opposition says as election battle with Modi's BJP heats up
▼ + stars: | 2024-04-23 | by ( Vinay Dwivedi | ) www.cnbc.com time to read: +4 min

India's unorganized sector, which is made up of millions of small businesses that are privately owned, make up about 93% of the country's total workforce. As many as 32% of the respondents said increasing unemployment was the key reason why they would not elect the BJP again. India's Labour Ministry did not immediately respond to CNBC's queries pertaining to the country's unemployment situation. Rajan, who was speaking about how to make India an advanced economy at the George Washington University, said: "Unemployment numbers are high, disguised unemployment is even higher. A slowdown in hiring in India's huge information technology sector is also to blame for the lack of well-paying, white-collar jobs.

Persons: Rahul Gandhi, Narendra Modi, Modi, Gandhi, —, Manmohan Singh, Arun Kumar, Lokniti, joblessness, Kumar, Raghuram Rajan, Rajan Organizations: DELHI, International Labour Organisation, Institute of Human, Goods, Services Tax, Jawahar Lal Nehru, CNBC, ILO, Bharatiya Janata Party, Indian National Congress, BJP, Modi, India's Labour Ministry, Former Reserve Bank of India, George Washington University, Labor Locations: India, Bihar, New Delhi

The deadline to submit takeover bids ends on Tuesday, and the sources told Reuters Jindal had decided against bidding after evaluating the airline's financial statements. "The EoI was largely to check the valuation of the airline and get access to the company's data," said one of the sources. Jindal Power and Go First's resolution professional did not reply to emails seeking comment. The Central Bank of India (CBI.NS), Bank of Baroda (BOB.NS), IDBI Bank (IDBI.NS) and Deutsche Bank (DBKGn.DE) are among the top creditors to the airline. Both bankers said the liquidation of the airline was now the most likely option as there were no serious bidders.

Persons: Francis Mascarenhas, India's, Reuters Jindal, Jindal, Banks, Siddhi Nayak, Sarita Chaganti Singh, Miral Organizations: REUTERS, Rights, India's Jindal Power Ltd, Reuters, Jindal Power, Bankers, Central Bank of India, Bank of Baroda, IDBI Bank, Deutsche Bank, Siddhi, Thomson Locations: Shivaji, Mumbai, India, Rights MUMBAI, Bank, BOB.NS, Delhi

Indian Prime Minister Narendra Modi welcomes Canada Prime Minister Justin Trudeau upon his arrival at Bharat Mandapam convention center for the G20 Summit, in New Delhi, India, Saturday, Sept. 9, 2023. Canada on Thursday pulled out 41 diplomats from India, and had earlier paused trade treaty talks with India. India imports potash, lentils, and energy products such as coal, coke and briquettes among other goods from Canada. Bilateral trade between Canada and India touched $8 billion in 2022. Canada has invested more than $3.6 billion in India with over 40% of that being in services and infrastructure, according to Invest India.

Persons: Narendra Modi, Justin Trudeau, Evan Vucci, Hardeep Singh Nijjar, There's, Neha Arora, Nikunj, Mayank Bhardwaj, Raju Gopalakrishnan Organizations: Indian, Canada, Bharat, Invest India, Reuters, JSW Steel, Canada's Teck Resources, Thomson Locations: New Delhi, India, DELHI, Canada, Ottawa, Surrey, Vancouver, Canada's Teck

It was unclear what stake JFE was seeking or what price it was offering. Japan's Nippon Steel (5401.T) has previously said it was looking to buy a 10% stake in Teck's coal business for C$1.15 billion, valuing the overall business at about C$11.5 billion, with an option of increasing its stake to 17.5%. Glencore has said it will consider buying the coal business for about $8.5 billion. JFE Steel holds 15% equity in India's JSW Steel (JSTL.NS), which was also exploring an investment in Teck's coal business. Price said the company had two options -- a 100% sale of the coal business for cash or a partial sale of the coal business, with proceeds going to growing the copper business.

Persons: Chris Helgren, Glencore, Major steelmakers, Teck, JFE, Jonathan Price, Price, Divya Rajagopal, Neha Arora, Denny Thomas, Nick Zieminski, Rod Nickel Organizations: Teck Resources, Developers Association of Canada, REUTERS, Rights, JFE Steel Corp, Canada's Teck Resources, Reuters, Japan's Nippon Steel, JFE Steel, JSW, Thomson Locations: Teck, Toronto , Ontario, Canada, Canada's Teck, Russia, JFE, Tokyo, Australia, Swiss, Toronto, India

☆ India's JSW Infrastructure discusses the country's port privatization push
▼ + stars: | 2023-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia's JSW Infrastructure discusses the country's port privatization pushArun Maheshwari of the Indian private sector infrastructure company discusses the government's public-private partnership model.

Persons: Arun

☆ India tells X, Youtube, Telegram to remove any child sexual abuse material from platforms
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

[1/3] A keyboard is placed in front of a displayed Telegram logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsMUMBAI, Oct 6 (Reuters) - India has sent notices to social media platforms X, formerly known as Twitter, Youtube (GOOGL.O) and Telegram asking them to ensure there is no child sexual abuse material on their platforms, the government said on Friday. The notices, sent by the federal Ministry of Electronics and Information Technology (MEITY), emphasised the importance of prompt and permanent removal of any child sexual abuse material on these platforms. Representatives for X and Google, which owns YouTube, as well Telegram did not immediately respond to Reuters requests for comment. The notices also asked companies to take proactive measures, such as content moderation algorithms and reporting mechanisms, to prevent the dissemination of child sexual abuse material in the future, the statement said.

Persons: Dado Ruvic, Rajeev Chandrashekhar, Chandrasekhar, Narendra Modi's, Shilpa Jamkhandikar, Susan Fenton Organizations: REUTERS, Rights, Telegram, Ministry of Electronics, Information Technology, Google, Reuters, Netflix, Disney, Thomson Locations: Rights MUMBAI, India

☆ India-Canada ties fray in dispute over Sikh separatist killing
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +3 min

Hardeep Singh Nijjar was shot dead by unidentified gunmen outside a Sikh temple on June 18 in a Vancouver suburb. * Indian Prime Minister Narendra Modi conveyed strong concerns about Sikh separatist protests in Canada to Prime Minister Justin Trudeau on the sidelines of a G20 summit in New Delhi on Sept. 10. * Canada postponed a trade mission to India planned for October led by Trade Minister Mary Ng, a spokesperson for the minister said on Sept. 15. * India suspended issuing new visas for Canadians on Sept. 22 and asked Ottawa to reduce its diplomatic presence in India. * India's steel secretary told reporters on Sept. 28 that Indian exports to Canada were marginal and have not been affected by the diplomatic row.

Persons: Nanak, Hardeep Singh Nijjar, Chris Helgren, Justin Trudeau, Narendra Modi, Mary Ng, Trudeau, Nijjar, Shivam Patel, YP Rajesh, Simon Cameron, Moore Organizations: REUTERS, Financial Times, Canadian, Trade, Reuters, JSW Steel, Teck Resources, YP, Thomson Locations: Surrey, British Columbia, Canada, DELHI, India, Vancouver suburb, New Delhi, Canadian, U.S, Australia, Britain, Teck, Ottawa

BAY ISMOYO/Pool via REUTERS/File Photo Acquire Licensing RightsWASHINGTON, Sept 29 (Reuters) - Indian Foreign Minister Subrahmanyam Jaishankar said on Friday there was a "climate of violence" and an "atmosphere of intimidation" against Indian diplomats in Canada, where the presence of Sikh separatist groups has frustrated New Delhi. "Because there is freedom of speech, to make threats and intimidate diplomats, I don't think that's acceptable," Jaishankar told reporters on Friday evening in Washington. Canada is home to an influential Sikh community, and Indian leaders say some fringe groups there remain sympathetic to the cause of an independent Sikh state. The insurgency killed tens of thousands of people and the Khalistan movement is considered a security threat by the Indian government. Indian Prime Minister Indira Gandhi was assassinated in 1984 by two Sikh bodyguards after she allowed the storming of the holiest Sikh temple, aimed at flushing out Sikh separatists.

Persons: Subrahmanyam Jaishankar, Jaishankar, Justin Trudeau, Hardeep Singh Nijjar, Trudeau, Indira Gandhi, Kanishka Singh, Leslie Adler Organizations: India's, Association of Southeast Asian Nations, ASEAN, India, ASEAN Foreign Ministers, Rights, Indian, Washington . Relations, Canadian, Air, Air India Boeing, Thomson Locations: Jakarta, Canada, New Delhi, Washington, India, Punjab, Air India

☆ Exclusive: India's JSW Steel slows process to buy stake in Canada Teck coal unit -source
▼ + stars: | 2023-09-21 | by ( Neha Arora | ) www.reuters.com time to read: +3 min

The source said discussions between JSW Steel - India's largest steelmaker by capacity - and Teck over the stake sale had slowed down, although work on the paperwork continued. JSW Steel declined to comment. "We do not comment on market rumours or speculation," Teck Resources said in an emailed response to Reuters queries. JSW steel is one of the largest customers of Teck's coal business. For India, Canada is the fourth-largest exporter of coking coal used in the steel business, according to Indian government data.

Persons: Chris Helgren, Teck, JSW Steel, JSW, Glencore, Neha Arora, Divya Rajagopal, Clara Denina, Emelia Sithole, Mark Porter Organizations: Teck Resources, Developers Association of Canada, REUTERS, JSW Steel, Ottawa, British Columbia, JSW, Reuters, Investment, Standard Chartered, Deutsche Bank, Japan's Nippon Steel, Thomson Locations: Teck, Toronto , Ontario, Canada, DELHI, India, New Delhi, Canadian, British, Vancouver, Australia, Russia, United States, Toronto, London

☆ Exclusive: India's JSW Steel slows process to buy stake in Canada Teck coal unit, source says
▼ + stars: | 2023-09-21 | by ( Neha Arora | ) www.reuters.com time to read: +3 min

Bola Tinubu, President of Nigeria, arrives for the closing session of the New Global Financial Pact Summit, Friday, June 23, 2023 in Paris, France. Lewis Joly/Pool via REUTERS/File Photo Acquire Licensing RightsNEW DELHI, Sept 6 (Reuters) - Nigeria has secured nearly $14 billion of pledges from Indian investors and seeks an economic cooperation pact with the South Asian nation, a presidential spokesperson said on Wednesday. Skipperseil Ltd's founding Chairman Jitender Sachdeva and India's Bharti Enterprises each pledged $1.6 billion over four years to build power generation plants and $700 million in Nigeria, respectively, Ngelale said. Tinubu is attending at the invitation of India, which currently holds the rotating presidency of the bloc. "We are ready to give you the best returns for investment possible, there's nowhere else like our country," Tinubu said in the statement.

Persons: Bola Tinubu, Lewis Joly, India's Jindal, Ajuri Ngelale, Skipperseil, Jitender Sachdeva, Ngelale, Tinubu, Nidhi Verma, Felix Onuah, Elisha Bala, Shivam Patel, Christina Fincher, Richard Chang Organizations: New Global Financial, South, India's Jindal Steel, Indorama Corp, India's Bharti Enterprises, Defence Industries Corporation, Thomson Locations: Nigeria, Paris, France, DELHI, West, New Delhi, India, Africa's, South Africa, Abuja

India's EV market is small, with Tata Motors (TAMO.NS) dominating sales that made up less than 2% of all cars sold last fiscal year. All sources declined to be identified as the talks are still ongoing and a final decision has not been made. Founded in 2015, Leapmotor has less than 2% share of China's fragmented EV market, where it sells four mass market electric models. This has also forced MG Motor India to find local investors like JSW so it can raise equity. Leapmotor also has been in partnership talks with other major automakers, including Stellantis (STLAM.MI) and Volkswagen (VOWG_p.DE), according to media reports.

Persons: JSW, Leapmotor, Sajjan Jindal, Aditi Shah, Zhang Yan, Neha Arora, Kim Coghill Organizations: REUTERS, DELHI, HK, MG Motor India, China's SAIC Motor Corp, EV, Tata Motors, MG Motor, Ford, JSW, Volkswagen, Thomson Locations: Jinhua, Zhejiang province, China, India, EVs, New Delhi, Shanghai

☆ Pinnock flies to a world-leading distance in long jump qualifying
▼ + stars: | 2023-08-23 | by ( Lori Ewing | ) www.reuters.com time to read: +1 min

BUDAPEST, Aug 23 (Reuters) - Jamaica's Wayne Pinnock needed just one attempt to secure his spot in the men's long jump final at the World Athletics Championships, soaring to a world-leading 8.54 metres on his opening jump in Wednesday's qualifying. I came here, had the focus and just jumped," Pinnock said. "In the final (Thursday), I want to go out there and do the same thing and whatever comes will come," Pinnock said. Three Jamaicans clinched spots in final, with Carey McLeod (8.19) and Tajay Gayle (8.12) joining Pinnock in the final 12. India's Jeswin Aldrin, whose 8.42 was previously the best in the world this season, was the last qualifier, with a jump of 8.00.

Persons: Jamaica's Wayne Pinnock, Pinnock, " Pinnock, Carey McLeod, Tajay Gayle, China's Jianan Wang, Miltiadis, India's Jeswin Aldrin, Lori Ewing, Pritha Sarkar Organizations: Thomson Locations: BUDAPEST, Eugene, Greece

☆ India's July Russian oil imports dip; Saudi import down to 2-1/2-yr low -trade
▼ + stars: | 2023-08-22 | by ( Nidhi Verma | ) www.reuters.com time to read: +2 min

Both China and India, the world's biggest and third-biggest oil importers, cut imports from Russia and Saudi Arabia in July after prices rose and as the two oil producers reduced output and crude oil shipments. Russian oil imports declined 5.7% to 1.85 million bpd and Saudi shipments fell by 26% to 470,000 bpd, the data showed. India's import of Russian oil may now decline further in August and September, however, as refiners plan maintenance at their plants and as Russian crude prices are above the $60-a-barrel ceiling imposed by the European Union and G7 economies after spot discounts shrank, sources said. Russia was still the top oil supplier to India in July, though, followed by Iraq and Saudi Arabia. India's oil importsIndia's oil imports from various regions(This story has been corrected to say April-July, not April-June, in paragraph 11)Reporting by Nidhi Verma; Editing by Florence Tan and Tom HogueOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Nidhi Verma, Florence Tan, Tom Hogue Organizations: REUTERS, DELHI, Organization of, Petroleum, European Union, United Arab, Thomson Locations: Russia, Saudi Arabia, China, India, OPEC, Moscow, Ukraine, Iraq, United Arab Emirates, Nigeria

☆ India's Jio launches Netflix subscription on prepaid plans
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] A man walks across the LED board showing the logo of Jio at the ongoing India Mobile Congress 2022, at Pragati Maidan, in New Delhi, India, October 3, 2022. REUTERS/Anushree Fadnavis/File Photo Acquire Licensing RightsAug 18 (Reuters) - Reliance Jio Infocomm, the telecom arm of Indian billionaire Mukesh Ambani's Reliance Industries (RELI.NS), said on Friday it has launched a Netflix subscription on prepaid plans. Jio said that around 400 million prepaid customers will get the option of availing a Netflix subscription through two packages, one priced at 1,099 rupees ($13.23), which will give access to Netflix on mobile platforms, and the other for 1,499 rupees, providing access to a basic package for large screens. Jio's peers, Bharti Airtel (BRTI.NS) and Vodafone Idea (VODA.NS), provide subscription to the Disney+ Hotstar streaming service through prepaid bundled plans. ($1 = 83.0797 Indian rupees)Reporting by Ashna Teresa Britto; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Anushree, Mukesh, Jio, Tony Zameczkowski, Ashna Teresa Britto, Sonia Cheema Organizations: Mobile, REUTERS, Reliance Industries, Netflix, Bharti Airtel, Vodafone, Disney, Jio, Thomson Locations: Pragati, New Delhi, India

☆ India job seekers aren't ready to return to the office — 2 in 3 say they value flexibility over pay
▼ + stars: | 2023-08-08 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +5 min

Workers in India are far from ready to return to the pre-pandemic days of working in an office, five days a week. In contrast, fewer job seekers (67%) consider the compensation offered for the job. According to Indeed, 6.5% of job postings on the platform in June explicitly mention phrases such as "work from home" or "remote work" in their job descriptions. Job seekers value clarity and communicationIn the midst of economic uncertainty, job seekers have been facing longer job interview processes as companies become more cautious with hiring. In addition, almost half of job seekers, or 48% surveyed, want to know the salary range from employers before applying for a role, Indeed added.

Persons: Sashi Kumar, Kumar, Josh Bersin Organizations: Workers, Employers, CNBC, Companies, Employees, Josh Bersin Company, AMS Locations: India

☆ India's Jio Financial Services, BlackRock to launch asset management venture
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Anushree Fadnavis/File PhotoMUMBAI, July 26 (Reuters) - India's Jio Financial Services (JIOF.NS), part of billionaire Mukesh Ambani led Reliance Group, and U.S.-based BlackRock Inc (BLK.N) will form a 50:50 joint venture to launch asset management services in India. The two companies are targeting an initial investment of $150 million each in the joint venture, Jio Financial said in a statement on Wednesday. The announcement comes days after Jio Financial Services was demerged from Reliance Industries, with the markets ascribing a valuation of nearly $20 billion to the venture which is yet to build out a business in India's fast growing financial services sector. India's asset management industry has seen rapid growth in recent years and has 44.3 trillion Indian rupees ($540.4 billion) in assets under management. The joint venture will launch a "digital-first" offering following regulatory approvals, said the statement, without giving a timeline within which it plans to begin operations.

Persons: Anushree, Mukesh Ambani, Hitesh Sethia, Larry Fink, AngelOne, Ira Dugal, Kirsten Donovan, David Evans Organizations: Mobile, REUTERS, Financial, Reliance Group, BlackRock Inc, Jio, Jio Financial, Reliance Industries, Group, BlackRock, Jio Financial Services, Thomson Locations: Pragati, New Delhi, India, MUMBAI, U.S

☆ India is on pace to pass the US on the list of the world's biggest economies — but there's a looming chance it squanders this promise
▼ + stars: | 2023-07-14 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

According to a recent Goldman report, India's economy is projected to top America's around 2075, becoming the second-largest in the world. India's economic growth is fueled by several key factors, including its vast labor force, technological advances, and burgeoning capital investment. A significant driver of this growth is innovation and technology, as noted by Goldman Sachs's chief India economist, Santanu Sengupta. The Goldman Sachs team noted that the biggest risk facing the country is if the labor force participation rate does not reverse its current 15-year downward trend. "If you have more opportunities — especially for women, because the women's labor force participation rate is significantly lower than men's — you can shore up your labor force participation rate, which can further increase your potential growth."

Persons: Goldman Sachs, Goldman, Zahra Tayeb, Goldman Sachs's, Santanu Sengupta, Sengupta, Tan, Elon Musk Organizations: Service, Apple, SpaceX, Goldman Locations: India, China, Wall, Silicon, India's, Mexico, Pacific

☆ India's Jio set to sign $1.7 bln deal with Nokia for 5G equipment - Economic Times
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 6 (Reuters) - India's Reliance Jio Infocomm is likely to sign a contract worth $1.7 billion with Nokia (NOKIA.HE) this week to purchase 5G network equipment, the Economic Times reported on Thursday, citing people aware of the matter. The contract could be signed as early as Thursday in Helsinki, Finland, where Nokia is headquartered, the report added. Jio and Nokia did not immediately respond to Reuters' requests for a comment. Jio snapped up airwaves worth $11 billion in a 5G spectrum auction last August and had launched 5G services in several cities. Swedish telecommunication company Ericsson (ERICb.ST) had in October last year, announced a partnership with Jio to build a 5G standalone network in India.

Persons: Jio, JP Morgan, Finnvera, Varun Vyas, Rashmi Aich Organizations: Nokia, Economic Times, Reliance Industries, Google, HSBC, Citigroup, Ericsson, Thomson Locations: BENGALURU, Helsinki, Finland, India, Swedish, Bengaluru

It is a new challenge for formerly government-owned Air India, which Tata Group took over last year. The CCI, Air India and Vistara did not immediately respond to requests for comment. To address the CCI's concerns, Air India could make concessions such as giving up certain routes or reducing frequency, the second source said, adding that Air India remains confident the matter can be resolved by recommending certain changes. Vistara and Air India both fly on international routes such as London and Dubai and would need antitrust clearances in other jurisdictions, the first source said. Air India is expecting similar queries from foreign countries once it applies for clearance there, but is waiting for the India process to first close, the source added.

Persons: Vistara, Vaibhav Choukse, India's J, Choukse, Aditi Shah, Aditya Kalra, Gerry Doyle Organizations: Vistara, Air India, Tata Group, Tata, Air, The, of India, Singapore Airlines, India's, Sagar Associates, IndiGo, Thomson Locations: DELHI, Air India, India, London, Dubai

☆ Blackstone acquires International Gemological Institute
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, May 21 (Reuters) - Private equity giant Blackstone Inc(BX.N) said it has fully acquired the jewellery certification firm International Gemological Institute (IGI) from China's Fosun(0656.HK) and the company's founding family. Blackstone acquired IGI- whose majority revenue and profits come from India- for about $530 million, said a person with direct knowledge of the matter. The statement said it had purchased an 80% stake from Fosun and 20% from the Lorie family. Founded nearly 50 years ago by the late Marcel Lorie, IGI has 29 laboratories and 18 schools of gemology in 10 countries. India's jewellery market was worth is $78.5 billion in the 2021 financial year and its one of the world's biggest, though a significant portion goes for export.

☆ Disheartened Go First pilots rush to Air India's jobs drive
▼ + stars: | 2023-05-04 | by ( Tanvi Mehta | ) www.reuters.com time to read: +2 min

NEW DELHI, May 4 (Reuters) - Dozens of pilots, many from crisis-hit Go First, flocked to a Tata group hotel near Delhi on Thursday for walk-in interviews with the conglomerate's Air India airline. Air India said on Twitter the hiring drive in Delhi and Mumbai would be extended by a day to Friday. An Air India spokesperson told Reuters it had received more than 700 applications in response to an advert last week for pilots, which it is currently processing. Go First and Vistara - a Tata group joint venture with Singapore Airlines - declined to comment. A planned merger of Air India with Vistara and the launch of Akasa Air have increased competition for staff and planes as the industry recovers.

Bharadwaj, a former India managing director of Sequoia Capital who now leads venture capital firm A91 Partners. Indian VC firm Blume Ventures said in an April report consumption outside the top 30 million Indian households dropped sharply, and is driven by a "tiny superuser set". "Indian startups are not catering to a billion consumers. And only 271 Indian startups raised funding in Q1 2023, compared with 561 last year, according to CB Insights. It invested $3 billion in Indian companies in 2021 and another $500 million in 2022, by April that year, Reuters calculations show.

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