 A MoU has been signed among Ministry of Railways, Coal and
Government of Odisha for development of rail infrastructure for evacuation of coal.
 The equity-oriented mutual funds (MFs) in
India witnessed an addition of 1.18 million retail folios in
January-March 2015 compared to 603,000 in previous quarter.
 The use of steel in
India is estimated to grow by 6.2 per cent to
80 million tonnes (MT) in 2015, up from 75.3
MT in 2014.
 Indian Railways plans to set up plants to manufacture diesel for mechanical traction with technology patented by scientists at the CSIR-Indian
Institute of Petroleum
(CSIR-IIP) Dehradun.
 The Indian economy is expected to grow between 7.8 per cent and 8.2 per cent in the current fiscal year, according to a projection by the
Confederation of
Indian Industry (CII).
Embassy of India, Riyadh
(Economic & Commerce Wing
Major Economic & Commercial News from India for the week ending 23.04.2015
ALIMCO Takes Major Technology Leap by Signing MoU with M/S
Motivation Charitable Trust U.K
The Artificial Limbs Manufacturing Corporation of India (ALIMCO) has signed a MoU with M/s Motivation UK to provide opportunities to both firms to work together for producing affordable State- of- Art wheel chairs having compliance to WHO guidelines.
Invecas to invest $15-20 million over next two years
Invecas Technologies Pvt Ltd, a startup working on outsourced chip design, will invest US$ 15-20 million to set up design centres in
Hyderabad and Bengaluru apart from other locations outside India.
Mahindra & Mahindra expands Zaheerabad facility
Mahindra & Mahindra Ltd has inaugurated an extended manufacturing facility in Zaheerabad, Telangana. The plant will manufacture sub-one tonne commercial vehicles, four-wheel load and passenger vehicles.
India among top five markets for Japanese auto majors
The Indian market ranks among the top five markets globally for top
Japanese automobile brands including Suzuki, Yamaha, Honda and
Toyota among others.
Digital music industry in India expected to cross Rs 3,100 crore in revenues by 2020
India's digital music industry is expected to cross Rs 3,100 crore (US$
493.87 million) in revenues by 2020, as per Deloitte India's report titled
'Digital Media: Rise of On-demand Content'.
MakeMyTrip to acquire travel planner Mygola
Online travel agency MakeMyTrip (India) will acquire travel planning website Mygola Inc and its assets and focus on cutting-edge innovation in online travel.
Lupin launches Salix Pharma's Zaxine in Canada
Lupin Ltd has launched US-based Salix Pharmaceuticals Inc's Zaxine antibiotic (used to treat hepatic encephalopathy, a complication of cirrhosis of liver) in Canada. Under the agreement, Lupin Pharma Canada
Ltd has exclusive rights to sell the drug in Canada.
Mylan to invest $5 billion in Andhra
Mylan is keen to expand its presence in Andhra Pradesh with an additional investment of US$ 5 billion, according to a statement issued from the Chief Minister of Andhra Pradesh's office.
M&A deals worth $12.1 billion recorded in Q1 2015: report
Mergers and acquisitions (M&A) activity in India witnessed an increase of
236 per cent to touch US$ 12.1 billion in the first quarter of 2015.
Temasek to invest $150 mn in Glenmark Pharma
Temasek Holdings plans to invest US$150 million in Glenmark
Pharmaceuticals Ltd through its wholly owned indirect subsidiary Aranda
Investments (Mauritius) Private Limited.
For more information on above and other economic news/events and resources on India, please visit www.ibef.org