IIFCL plans $200 million External Commercial Borrowing by January 2025, says MD Jaishankar
State-owned diversified infrastructure lender India Infrastructure Finance Company Ltd (IIFCL) plans to raise about $200 million through external commercial borrowing (ECB) by January 2025, its Managing Director, PR Jaishankar said. “This will be IIFCL’s first ECB since its inception in 2007. So far, we have only raised funds from multilateral institutions.
IBBI proposes to make monitoring committee mandatory for all resolution plans
Insolvency regulator IBBI proposes to make constitution of monitoring committee mandatory for implementation of all resolution plans under Corporate Insolvency Resolution Process (CIRP). It has issued a discussion paper for this purpose and public comments can be sent by December 9. The proposed move is fallout of the Supreme Court
India auto components industry to cross $80.1 billion revenue in FY25
India’s automotive components industry is expected to cross $80.1 billion in revenue in FY25. The industry is growing at a CAGR of 8 per cent since FY20. According to the Rubix Industry Insights – Automotive components report, the electric vehicle (EV) components contribution doubled to 6 per cent of total
Zopper raises $25 million in Series D round
Zopper, an insurtech platform, has raised $25 million in series D funding round, co-led by Elevation Capital and Dharana Capital. The round also saw participation from existing investor Blume Ventures. Zopper is also backed by Creaegis, Bessemer Venture Partners and ICICI Venture. Zopper will use this fresh funding to ramp
India’s consumer durable makers to log 11-12 pc growth in FY25, ETCFO
New Delhi, Nov 21 (IANS) Revenue of consumer durable manufacturers in India is projected to rise 11-12 per cent this fiscal (FY25), continuing the healthy run after a strong 13 per cent growth last fiscal, according to a report on Thursday. New Delhi, Revenue of consumer durable manufacturers in India
New office bearers for KPA
A Aravind Rao has been elected as the chairman of the Karnataka Planters Association (KPA) for the year 2024-25. M Salman Baseer was elected as the vice chairman at the 66th annual general meeting of KPA held at Madikeri, recently. M Salman Baseer, Vice Chairman, KPA Other members elected to
APEC Climate Center forecasts La Nina emerging during Dec-Feb
The APEC Climate Center (APCC) has said there is a 62 per cent chance for La Nina conditions to persist between December 2024 and February 2025 with conditions turning neutral during February-April 2025 and March-May 2025. “The APCC ENSO (El Nino Southern Oscillation) alert suggests ‘La Niña Watch’. Niño3.4 index
SEA President favours adoption of genetically modified crops to improve oilseeds’ productivity
The Solvent Extractors’ Association of India (SEA) has said the adoption of genetically modified (GMO) crops could revolutionise oilseed productivity in the country. In his letter to the members of SEA on Friday, Sanjeev Asthana, President of SEA, said India’s oilseed production is projected to grow from 35 million tonnes
India’s export outlook brighter as manufactured goods gain share: RBI, ETCFO
Mumbai, Nov 21 (IANS) The outlook for India’s exports is brightening as underneath the subdued growth profile of the past few months, the country has been gaining a share in global trade of key manufacturing items, according to the RBI bulletin for November. Mumbai, The outlook for India’s exports is
Stable inflation in best interest of economy, Das says
Price stability is in the best interest of the people and economy, and acts as the bedrock for sustained growth, Reserve Bank of India (RBI) Governor Shaktikanta Das said in his address at the high-level policy conference of central banks from global south being held here today. “Resilient growth has