businessfortnight

Suzuki Motorcycle India today launched its first sub-1000cc super-bike, GSX-S750, in the country priced at Rs 7.45 lakh (ex-showroom Delhi). “We had made a commitment to launch several new and premium products every year for the Indian-market,” Suzuki Motorcycle India Managing Director Satoshi Uchida said in a statement. GSX-S750 is not just the first new offering from Suzuki for the new financial year, but is also our first-product in the sub-1000cc big-bike segment, he added. The model is powered by a 749cc four-cylinder fuel-injection engine mated to a six-speed gearbox. “The GSX-S750 has been designed to dominate, be it with its aggressive styling, comfortable ergonomics or the powerful engine,” Suzuki Motorcycle India Executive Vice President Sajeev Rajasekharan said. moneycontrol

The road into food retail business in India is no longer smooth for Amazon, as the government has directed the e-commerce giant not to share any equipment, machinery or warehouses from its current marketplace business for the planned venture, reported The Economic Times. In July last year, the US-based company received government approval to invest in building a full-fledged food retail business and sell food products through its wholly owned subsidiary in India. It had proposed to invest about USD 500 million in the country. Following this, the company was looking to launch its food retail business nationwide and has already started a pilot of it in Pune with restricted selection and coverage, a person familiar with the matter told ET. However, after the direction received, the company has now sought clarification from the department of industrial policy and promotion (DIPP) whether it can share some of the warehouse staff, entry and exit doors at warehouses, barcode machines, trolli

Mumbai:  India might need 167 fighter jets worth more than Rs1 trillion, the order process for which could be completed in the next 12-18 months, a top executive at Mahindra Group said, as it prepares to bid for some of the military orders on the cards. The Anand Mahindra-led Mahindra group recently tied up with The Boeing Co. and state-controlled Hindustan Aeronautics Ltd to build a new assembly line for manufacturing F/A-18 Super Hornet fighter jets. “The government has already come out with tender process for 110 fighter jets, and navy also has requirement for another 57 jets. So total requirement appears to be 167 jets at this stage,” said S.P. Shukla, group president, aerospace, defence and steel, at Mahindra Group, and chairman, Mahindra Aerospace. “The government’s plans to place orders are likely to be valued over Rs100,000 crore (Rs1 trillion),” Shukla said, adding the supply of these fighter jets may be spread over three-seven years after the placement of orders, depending u

Planning a vacation this summer? If you’re excited about taking a train journ ey, you must know the new rules Indian Railway Catering and Tourism Corporation (IRCTC) has introduced for booking railways tickets on its online portal. But, before that – link Aadhaar number with your IRCTC account. When IRCTC was launched in 2002, only 29 online tickets were booked on the first day. Today, more than 1.3 million online tickets are booked through IRCTC portal – www.irctc.co.in – the e-ticketing outlet of the national carrier. About 20 million people travel by Indian Railways every day. Here are some exciting changes Indian Railways has introduced for rail passengers who link their IRCTC account with Aadhaar: Now users are allowed to book up to 12 tickets in a month if users get themselves verified through their Aadhaar number along with at least one passenger also being verified through Aadhaar. No Aadhaar Verification required for booking up to 6 tickets in a month, as earlier. Steps to a

The Indian Railways’ plans to generate Rs 390 billion from non-fare sources over 10 years have become doubtful, with the national transporter withdrawing tenders for out-of-home (OOH) advertisements and advertisements on trains owing to a “low industry response” and “technical reasons”. OOH included station areas, overbridges, underbridges, level-crossing gates, railway colonies, workshops, production units, and railway land along tracks. These initiatives would have added at least Rs 82.5 billion to its revenues over 10 years. According to sources close to the development, the cancellation of the tenders came when the Railway Board withdrew the powers of awarding contracts from railway subsidiary RITES and gave them to railways zones. With this, the railways will go back to its practice of inviting tenders for “sundry” initiatives through the zonal railways. “This has led to stagnation in policies for at least two years, resulting in huge revenue losses to the railways. It may take a

New Delhi: Construction for India’s first high-speed train project, the 508-km long Mumbai-Ahmedabad bullet train corridor, will begin in January 2019, said officials. They said that land acquisition will be completed by the end of this year and the mega project, costing Rs 1.08 lakh crore, will be completed by the end of 2022. Indian Railways will acquire around 1,400 hectares of linear land in Maharashtra and Gujarat at a cost of Rs 10,000 crore, said Achal Khare, managing director, National High Speed Rail Corporation (NHRC), the implementing agency for the project, which will also be responsible for operating trains on high-speed corridors. The government has started getting funds from the Japanese International Cooperation Agency (JICA) and the land acquisition has started in Mumbai. JICA is providing a soft loan of Rs 88,000 crore for the project for a period of 50 years at an annual interest rate of 0.1%. Once the bullet train project is operational, the journey between the t

NEW DELHI: By September, Delhi Metro will open two new corridors connecting Dilshad Garden to Ghaziabad and Dwarka to NoidaSector62. The one on the Blue Line would go ahead of Noida City Centre up to Electronic City, DMRC managing director Mangu Singh said. This would take metro connectivity to many far-flung Noida sectors like 34, 52, 59, 61 and 62. The corridor would also touch the Noida-Ghaziabad border on NH-24 where the last station—Noida Electronic City—is located. “The physical work on the corridor is complete except for two or three locations where there were some special requirements. We are hopeful that by September the corridor will be ready,” Singh told TOI. The much delayed Dilshad Garden to New Bus Stand (Ghaziabad) corridor is also expected to open in September, Singh said. The corridor would benefit those staying near GT Road and interior parts of the district. At present, Ghaziabad has only two stations, Kaushambi and Vaishali on the Blue Line. “Physical works, incl