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Biz EOD: Maruti's model to help India; pharma to replace Chinese imports; moratorium saves Biyani

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | June 16, 2020 | Updated 00:04 IST
Biz EOD: Maruti's model to help India; pharma to replace Chinese imports; moratorium saves Biyani
Top stories from the world of business and economy

In 1987, when Suzuki increased its shareholding in Maruti to 40 per cent, it proved to be a big turning point. How? This led to the gradual development of the domestic auto ancillary ecosystem in the country; The operational details, shared with the CEOs of pharma companies indicate that PLI scheme meant to make India Atma Nirhbar will run parallel to existing imports of raw materials; Government's stimulus measures turned out to be a blessing in disguise for Kishore Biyani, the father of India's modern retailing; Read for more top stories from the world of business and economy:

1. How Maruti Suzuki's model can help India become global mobile manufacturing hub

With nearly 90 per cent of the global mobile market controlled by top six players - Apple, Samsung, Oppo, Vivo, Xiaomi, and Huawei - the government wants these brands to expand their presence in India.

2. Here's how govt wants Indian pharma replace Chinese imports

What is more interesting is that the incentive - reimbursement of 10 to 20 per cent of the net incremental sales turnover for the first four years, depending on the category you fall - will be calculated only on the revenue earned from domestic sales with a ceiling on the quantity that can be sold.

3. How loan moratorium, IBC saved Kishore Biyani from debt crisis

According to rating agency ICRA, the debt of Future Group's six listed firms increased to Rs 12,778 crore as of September 2019 from Rs 11,463 crore in March 2019.

4. India's trade deficit narrows to $3.15 billion in May

The exports fell 36.5 per cent and imports fell 51 per cent in the month, the data showed.

5. Another blow to Anil Ambani! SBI files plea in NCLT to recover Rs 1,200 crore

The state-run lender has filed an application in the National Company Law Tribunal (NCLT) to recover the amount from Ambani under the personal guarantee clause of the bankruptcy law.

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