AirAsia India appoints Tata group veteran Sunil Bhaskaran as CEO : Podcast: Business Today
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AirAsia India appoints Tata group veteran Sunil Bhaskaran as CEO

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October 11, 2018

India's draft electronics policy aims $400 billion manufacturing industry by 2025

The country's draft electronics policy released by the IT ministry on Wednesday has set an ambitious target of creating a $400 billion electronics manufacturing industry by 2025, with the mobile phone devices segment accounting for three-fourths of the production. The draft National Policy on Electronics (NPE) aims to promote domestic manufacturing in the entire value-chain of ESDM (electronic system design and manufacturing) to spur economic development. The proposed policy aims to double the target of mobile phone production from 500 million units in 2019 to 1 billion by 2025 to meet the objective.
 
Saudi Arabia to supply extra oil cargoes to India in Nov as Iran sanctions loom

Saudi Arabia, the world's biggest oil exporter, will supply Indian buyers with an additional 4 million barrels of crude oil in November, several sources familiar with the matter said on Wednesday. The extra cargoes indicate a willingness by Saudi Arabia to increase crude supply to make up the shortfall once sanctions by the United States on oil exports from Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), start up on Nov. 4.
 
AirAsia India appoints Sunil Bhaskaran as CEO 

AirAsia India Wednesday announced appointment of Tata group veteran Sunil Bhaskaran as chief executive officer and managing director, amid the no-frills airline preparing to expand its operations. The carrier, which currently has a fleet of 19 planes, is a joint venture between Tatas and Malaysia's AirAsia Berhad. Bhaskaran's appointment would be effective from November 15. Currently, he is vice president of corporate services at Tata Steel and has over three decades of experience in the fields of manufacturing, export and commercial operations with the Tata group
 
Arundhati Bhattacharya joins ChrysCapital as advisor

India focused private equity firm ChrysCapital Advisors LLP has appointed former SBI chairperson Arundhati Bhattacharya as an advisor. According to a report in The Economic Times, Bhattacharya will advise on firm's strategy and investments. She will be working with ChrysCapital managing partner Kunal Shroff and other partners. Established in 1999, ChrysCapital is a leading India focused investment firm with approximately $3 billion of assets under management across seven funds.
 
India to be world's 11th wealthiest nation by 2022, says report

By 2022, India will be the world's 11th wealthiest nation, ahead of countries such as Switzerland, Hong Kong, the Netherlands and Taiwan. The report by Boston Consulting Group (BCG) also predicts that India's personal wealth will grow to $5 trillion by 2022, up from $3 trillion in 2017. Last year, India had ranked 15th globally in terms of total personal wealth. The US continues to top the wealth chart, with its total personal wealth expected to mushroom from $80 trillion in 2017 to $100 trillion in the next four years. China ranked second
 
NBFC stocks rise after SBI triples target for purchase of loans to up to Rs 45,000 cr

Shares of non-banking financial companies led the Sensex and Nifty higher in trade today a day after the State Bank of India said it would raise its target to acquire asset portfolios from non-banking financial companies (NBFC).
The bank has reportedly tripled the target from its previous level. In a statement on Tuesday, country's largest lender said that it was raising the target for purchase of "good quality" asset portfolio from NBFCs, "as it believes that there's good opportunity to expand its loan portfolio at attractive rates".

Compiled by Rashi Bisaria