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[1/3] Traffic moves past the 'Bharat Mandapam', the main venue of the G20 Summit in New Delhi, India, September 5, 2023. U.S. President Joe Biden, British Prime Minister Rishi Sunak, Saudi Crown Prince Mohammed Bin Salman, Canadian Prime Minister Justin Trudeau and Japanese Prime Minister Fumio Kishida are expected to be part of the gathering in New Delhi. For years, Ambani and Adani have competed across a wide range of industries from telecoms to media, and energy to finance. Adani Group has denied any wrongdoing. Reliance Industries, Adani Enterprises, Tata Sons, Bharati Airtel, Aditya Birla Group and the Indian government did not reply to emails seeking comment on the invitation.

Persons: Mandapam, Adnan Abidi, Mukesh Ambani, Gautam Adani, Narendra Modi, Joe Biden, Rishi Sunak, Prince Mohammed Bin Salman, Justin Trudeau, Fumio Kishida, N, Kumar Mangalam Birla, Sunil Mittal, Ambani, Xi Jinping, Vladimir Putin, Modi, Adani, Sarita Chaganti Singh, Shivangi, Clarence Fernandez Organizations: REUTERS, British, Canadian, Japanese, Tata, Bharti Airtel, Reliance Industries, Adani, Hindenburg Research, Adani Enterprises, Tata Sons, Bharati Airtel, Aditya Birla Group, Thomson Locations: New Delhi, India, DELHI, Saudi

☆ A $12 phone is opening doors for rural India to get on the internet
▼ + stars: | 2023-07-06 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +7 min

All that could change with a new $12 phone from Reliance Jio this week. India is already the world's second-largest smartphone market and is likely to add 300 million new internet users, making it the fastest country to provide internet services to those who remain unconnected, Mishra said. "However, screen size can limit the experience a bit, but still good for first-time internet users." Reliance Jio has rolled out 5G services in 406 cities in India. Additionally, Singh highlighted that Reliance Jio hopes first-time internet users who purchase the Jio Bharat will eventually upgrade to more advanced phones down the road.

Persons: Mukherjee, Akash Ambani, Jio Bharat, Varun Mishra, Mishra, Navkendar Singh, Singh, Jio, Bharat, There's, Nikhil Batra, Batra, Research's Mishra Organizations: International Data Corporation, Afp, Getty, Reliance, Reliance Industries, Counterpoint Research, CNBC, Vodafone, Aditya Birla Group, Vodafone Group —, BSNL, IDC, Nurphoto, Macquarie Research, Vodafone Idea, Bharti Airtel, Macquarie, Jio, Airtel Locations: India, Jio, Delhi, Mumbai, Kolkata, Bihar, Jammu, Kashmir, Himachal Pradesh

☆ India’s Vodafone rescue has strings attached
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Feb 6 (Reuters Breakingviews) - New Delhi has finally come good on its promise to convert Vodafone Idea’s (VODA.NS) dues worth $2 billion into an equity stake. The state’s move, which dialed up a 10% gain in Vodafone Idea’s stock, could ease the company’s pressures elsewhere. A recently extended repayment schedule for $194 million of cash owed to American Tower (AMT.N) should bolster its chances, too. India’s Telecommunications Minister Ashwini Vaishnaw said on Friday that concomitant with the swap is a “firm commitment” of fresh capital from the Aditya Birla group, Vodafone Idea’s second-largest shareholder. For a group that has often expressed a wish to exit the telecom business, the bailout must feel like a Pyrrhic victory.

☆ Davos: India flexes its muscle as China's star fades
▼ + stars: | 2023-01-19 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

In 2023, as global recession fears persist, the country is expected to log the best performance of any major economy. An Invest India banner hanging from a building ahead of the World Economic Forum in Davos, Switzerland, on Monday, Jan. 16. India is also due to displace its powerful neighbor as the world’s most populous country this year. They’re a substantial asset — if India’s economy can create enough jobs. “The world needs resilience,” Tata Sons Chairman Natarajan Chandrasekaran told a Davos panel.

MUMBAI, Jan 6 (Reuters) - Loss-making Indian telecom operator Vodafone Idea has sought at least 70 billion rupees ($846 million) in emergency funds from local banks, which are however reluctant to extend fresh loans, four sources familiar with the matter said. "Without that (capital injection) it looks difficult for the company to ...survive," said one top official at a state-owned bank. Vodafone Idea (VODA.NS), the telecom ministry, and State Bank of India (SBI.NS) - the country's largest lender which the company has approached for financing - did not immediately respond to Reuters requests for comment. A feasibility study shared by Vodafone Idea with its bankers suggested the business might need a radical restructuring in order to survive, several of the sources said. An equity conversion by the government would be expected to raise its stake in the company to beyond 30%.

☆ India’s Vodafone stress test may have ugly results
▼ + stars: | 2023-01-06 | by ( Una Galani | ) www.reuters.com time to read: +4 min

Investors cheered, and many customers in its now-234 million-and shrinking subscriber base breathed a sigh of relief. Vodafone, meanwhile, is now calling on the banks for fresh loans, per the Economic Times. That may not have been sufficient, but there was no disclosure by the company stating that the swap was conditional on the existing owners’ financial commitment. India’s politicians are careful to avoid situations where they might be accused of being too generous to foreign multinationals. With so much stress, though, other creditors might find a reason to pull the rug from under the company’s feet sooner.

☆ We're very comfortable with growing through acquisitions, says Indian conglomerate
▼ + stars: | 2022-11-14 | 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 EmailWe're very comfortable with growing through acquisitions, says Indian conglomerateKumar Mangalam Birla of the Aditya Birla Group tells CNBC's Tanvir Gill that "acquisitive growth" will be a major part of its playbook.

☆ Mahatma Gandhi's values have had a huge influence on our company, says Indian conglomerate
▼ + stars: | 2022-11-14 | 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 EmailMahatma Gandhi's values have had a huge influence on our company, says Indian conglomerateKumar Mangalam Birla of the Aditya Birla Group tells CNBC's Tanvir Gill how Gandhian values influenced the company's concept of "trusteeship."

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