Top 10 Business News in India You Can’t Miss This Week
As we step into another week, the Indian business world is buzzing with new updates and developments. From big mergers to funding rounds, here are the top 10 business news in India you can’t miss this week:
1. Flipkart acquires Cleartrip
Indian e-commerce giant, Flipkart, has acquired online travel booking platform, Cleartrip. This acquisition will expand Flipkart’s customer base and strengthen its position in the online travel industry.
2. Paytm raises $1.4 billion in funding
Paytm, India’s leading digital payments company, has raised $1.4 billion in a funding round led by SoftBank and Ant Group. The company plans to use the funds to expand its financial services and e-commerce verticals.
3. Ola Electric appoints new CEO
Ola Electric, the electric vehicle arm of ride-hailing firm, Ola, has appointed former Vodafone executive, N Balachandar, as its new CEO. The company is gearing up to launch its first electric scooter in the coming months.
4. PhonePe partners with ICICI Bank
Digital payments platform, PhonePe, has partnered with ICICI Bank to offer instant loans to its users. The partnership will enable PhonePe to expand its financial services offerings and provide more value to its customers.
5. Byju’s acquires Aakash Educational Services
Edtech company, Byju’s, has acquired Aakash Educational Services, a leading test preparation company in India. This acquisition will strengthen Byju’s position in the test preparation market and expand its reach across the country.
6. Zomato IPO to launch in June
Food delivery platform, Zomato, is gearing up to launch its IPO in June this year. The company is expected to raise around $1.1 billion through the IPO, which will be one of the biggest in India’s history.
7. Reliance Jio to launch 5G services
Telecom giant, Reliance Jio, is planning to launch 5G services in India in the second half of the year. The company has already developed its own 5G technology and is waiting for spectrum allocation from the government.
8. Delhivery in talks to raise $700 million
Logistics firm, Delhivery, is reportedly in talks to raise $700 million in a funding round led by Fidelity and BlackRock. The company is looking to expand its operations and strengthen its position in the Indian logistics market.
9. NUE license granted to Tata Group consortium
The Reserve Bank of India has granted a license to a consortium led by Tata Group to set up a new umbrella entity (NUE) for digital payments. The move is expected to increase competition in the digital payments market and provide more options to consumers.
10. Air India to be privatized
The Indian government has announced plans to privatize national carrier, Air India. The government will sell its entire stake in the airline, and the buyer will have to take on around $3.5 billion of debt. The move is aimed at improving the financial health of the airline and boosting the aviation sector in India.
As the Indian business landscape continues to evolve, keeping up with the latest news and developments is crucial for staying ahead of the game. These 10 business news updates are just a glimpse into the dynamic world of Indian business – stay tuned for more!
