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Subhash Chandra’s Essel Group expects to raise over Rs. 20,000 crore by selling its infrastructure business, comprising roads, power transmission and solar energy assets. While Rs. 14,000 crore will be used to settle the infrastructure unit’s debt, the rest will be used to complete group projects and cut promoter debt. https://www.thehindubusinessline.com/todays-paper/article26199552.ece

Amid the growing clamour to insulate the Rs 1 trillion domestic sugar economy from market volatility by diversifying the sugarcane value chain, the country’s sugar mills have lined up fresh investment to the tune of Rs 6,000 crore to upgrade for producing ethanol from sugarcane. https://www.business-standard.com/article/economy-policy/rs-8-500-crore-investment-lines-up-for-ethanol-two-third-by-sugar-mills-119020600305_1.html

The finance ministry expects economic growth to accelerate to 7.5 per cent in 2019-20 from 7.2 per cent projected for the current fiscal. The growth was 8.2 per cent in 2016-17, the year in which the government demonetised high-denomination currency notes of Rs 500 and Rs 1,000. https://auto.economictimes.indiatimes.com/news/industry/government-expects-7-5-gdp-growth-in-fy20/67852485

SRI Capital has made a strategic investment of an undisclosed amount in the Edge AI (artificial intelligence) technology start-up, edgetensor. Headquartered in Dallas, Texas, with a development centre in Bengaluru, the start-up’s mission is to make Edge-based AI affordable and accessible to the mass market. https://www.thehindubusinessline.com/info-tech/sri-capital-invests-in-edge-ai-start-up-edgetensor/article26183472.ece

The number of start-ups in India has grown seven-fold from around 7,000 in 2008 to around 50,000 by the end-2018, according to a report. Consultancy firm KPMG, in its latest report on India’s start-up ecosystem, has said an explosion of the Internet, higher literacy rates and greater exposure to outside working has fuelled sector-based innovation […]

India’s exports are on track to touch a record high of $325 billion in 2018-19 despite a slowdown in growth in the third quarter. For the last three years, our exports have been growing and I have been saying that our exports are on track for reaching a record level this year. We are going […]

Agri-chemicals major UPL Ltd announced the completion of its acquisition of New York-based Arysta LifeScience Inc for $4.2 billion. The acquisition will elevate UPL’s position in the global agricultural solutions market with $5 billion in combined sales and EBITDA of around $1 billion. UPL had started the acquisition process in July 2018. https://www.thehindubusinessline.com/todays-paper/tp-news/article26180505.ece

The government raised its disinvestment target for 2019-20 by 12.5 per cent to Rs 90,000 crore even as less than half of the budgeted target of Rs 80,000 in the outgoing fiscal has been realised in the first 10 months.  So far, the government has raised Rs 35,532 crore from the sale of its shares in […]

The partial shutdown of the US government is likely to have had additional negative impact on exports of small diamonds from India to the US in a financial year that saw an 8.48% decline from the year-ago period in the first nine months to $22.41 billion. https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/us-government-shutdown-to-hit-indian-diamond-exports/articleshow/67751715.cms

Entrepreneur First (EF), a UK-based global talent investor, launched operations in India and has allocated $25 million to promoting talent across multiple locations in the country over the next three years. EF has pioneered a programme model that invests in outstanding individual talent even before they have an idea and helps them find co-founders and raise […]