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Unlocking the golden years: What to know before investing in a senior home

<ul><li>All social, cultural, academic, sports, entertainment, religious and political gatherings shall remain prohibited till September 20 and can be started after that but with a maximum 100 people in attendance, the order issued by the district police under CrPC Section 144 stated.</li><li>It prohibits outdoor movement of people, except for those engaged in essential services and those facing emergency, from 10 pm on Fridays till 5 am on Mondays. </li><li>The order comes in the wake of the Centre and the state government announcing guidelines for "Unlock 4" -- the phased re-opening of activities that had been barred in March to contain the spread of COVID-19. </li></ul> Restrictions on outdoor movement of people during weekends will continue in Noida and Greater Noida till September 30 due to the COVID-19 outbreak in Uttar Pradesh's Gautam Buddh Nagar district, an order stated on Monday. All social, cultural, academic, sports, entertainment, religious and political gatherings shall remain prohibited till September 20 and can be started after that but with a maximum 100 people in attendance, the order issued by the district police under CrPC Section 144 stated. It prohibits outdoor movement of people, except for those engaged in essential services and those facing emergency, from 10 pm on Fridays till 5 am on Mondays. The order comes in the wake of the Centre and the state government announcing guidelines for "Unlock 4" -- the phased re-opening of activities that had been barred in March to contain the spread of COVID-19. All educational institutions in the district shall remain closed till September 30 for students and classes, according to the order issued by Additional Commissioner of Police (Law and Order) Ashutosh Dwivedi. Cinema halls, swimming pools, amusement parks, theatres, auditoriums, and other such places of public gathering will also remain shut till the end of the month, it added. Open air theatres shall remain closed till September 20, the order stated. A maximum of 30 people can participate in any wedding programme and 20 in a funeral till September 20, and after that, the number of participants in both cases can go up to a maximum 100, it stated. People above the age of 65 years, children below 10, those with co-mobidities and pregnant women have been asked to stay indoors except for cases of health emergencies, it added. People have been cautioned against roaming outdoors without a face mask or cover and spitting in the open. Any violation of these rules will invite punishment, Dwivedi stated in the order. "These orders have been issued till September 30, and any violation would attract punishment under Indian Penal Code section 188 (disobedience to order duly promulgated by a public servant)," Dwivedi said. Gautam Buddh Nagar, adjoining Delhi, has so far recorded more than 7,800 cases of COVID-19 and 45 deaths. Over 86 per cent patients have recovered so far, while 1,009 cases are active, as per official figures till Sunday. SEE ALSO: <a href="https://www.businessinsider.in/">Check out the latest updates and news on Business Insider India.</a>

Unlock 4.0: Weekend restrictions to continue in Noida till September 30

The Union Culture Ministry on Sunday approved opening of 820 centrally protected monuments under the Archeological Survey of India which has places of worship from June 8, Minister Prahlad Patel said. The ministry said that as per the instructions of the ministry of home affairs, the culture ministry has decided to open only those monuments among the over 3,000 ASI-maintained monuments, where religious worship takes place such as Nila Mosque at Hauz Khas enclave, the Qutub archaeological area, Lal Gumbad in Delhi. He said that all coronavirus-related protocols issued by the health ministry will be followed by the monument authorities. There are 3,691 Centrally-protected monuments and archaeological sites maintained by the ASI were shut from March 17 in view of the coronavirus crisis. Sources said that wearing masks might be made the norm at such sites for visitors. "Today, the Culture Ministry has approved the opening of 820 of its living monuments under the ASI from June 8. All protocols issued by the MHA and the Health ministry will be followed," Patel tweeted. SEE ALSO: <a href="https://www.businessinsider.in/india/news/with-233-fresh-cases-bihars-covid-19-tally-rises-to-4831/articleshow/76238545.cms">Bihar registers 233 new coronavirus cases with its overall tally rising to 4.831</a> <a href="https://www.businessinsider.in/india/news/noida-21-new-covid-19-cases-tally-591/articleshow/76238339.cms">Noida’s total coronavirus cases hit 591 with 21 new cases detected in the past 24 hours</a> <a href="https://www.businessinsider.in/india/news/342-new-coronavirus-cases-in-pune-district-six-deaths/articleshow/76239001.cms">Six more people die of coronavirus in Pune with 342 fresh cases</a>

Over 800 ASI monuments which have places of worship will open from June 8

By Kishor Dwivedi Noida (UP), Jul 6 () More than 8,300 people have been held in Uttar Pradesh's Gautam Buddh Nagar for allegedly defying curbs imposed due to COVID-19 so far, according to police data. Also, challans were issued to owners of 1,14,221 vehicles across Noida and Greater Noida, while another 2,384 were impounded for the violations, the data, updated till July 5, showed. Criminal Procedure Code (CrPC) Section 144 is in force in Gautam Buddh Nagar, where the COVID-19 lockdown had started on March 23 with major restrictions on outdoor movements, in a bid to break the transmission chain of the novel virus. Eventually, the district, adjoining Delhi in western Uttar Pradesg, too got into the "unlock" mode -- phased re-opening of activities that had been barred to contain the spread of COVID-19. From March 23 to July 5, the district police registered 2,413 FIRs under Indian Penal Code section 188 (disobedience to order duly promulgated by public servant), according to the data available with . There were 9,718 accused booked for violations, of which 8,302 have been held during the period, it showed. A total of 3,51,099 vehicles have checked across 200 barrier points in the district and challans issued to 1,14,221 of them, while another 2,384 were impounded, the data stated. Overall, Rs 32,33,900 have been recovered in fines from erring vehicle owners, it added. Also, 4,511 emergency vehicles were allowed passage during the checks by the police in the district, where administration has already banned movement between Noida and Delhi except for ambulances, doctors, media, and those directly involved in COVID-19 services. The police also lodged seven FIRs under the Essential Commodities Act, 1955 so far in which five of the nine accused got arrested, according to the data. Gautam Buddh Nagar has so far recorded 2,765 positive cases of COVID-19 and 978 of them are active cases, according to the official figures available till Sunday. The district has so far recorded 28 deaths, while 1,759 patients got discharged after treatment for coronavirus, the figures showed. KIS KJ

Over 8,300 held for defying COVID-19 curbs so far: Noida Police

<keyword id="108191" type="COMPANY" weightage="20" keywordseo="Indian-Railway-Finance-Corporation">Indian Railway Finance Corporation</keyword> (<keyword id="153053" type="COMPANY" weightage="20" keywordseo="IRFC">IRFC</keyword>) initial public offering of about Rs 4,600 crore may hit the markets later this month, a first by a non-banking financial company (NBFC) in the public sector. "In all probability it (IPO) will be by the third week but, if the market is not okay then we can go to the first or second week of January also," Amitabh Banerjee, Chairman and Managing Director, IRFC, told here. The company, the dedicated financing arm of <keyword id="1204894" type="LOCATION" weightage="20" keywordseo="The-Indian-railways">the Indian Railways</keyword>, will be going for the anchor investment also. "The government is planning to have anchor investors in place for this IPO," he added. In January 2020, IRFC filed draft papers for its IPO. According to market sources, the IPO is likely to be worth around Rs 4,600 crore. On reasons for bringing the anchor portion, the CMD added that it is a confident market and the anchor investors would be assured of the fact that they will be able to get the desired proportion of issuance without regular bidding. "They will be able to get the amount that they want to invest in IRFC without going for the bidding route. Also, it will give a lot of confidence to other investors in the market who are sitting on the fence," he said. The issue is of up to 178.20 crore shares, comprising a fresh issue of up to 118.80 crore shares and offer for sale of up to 59.40 crore shares by the government, according to the draft prospectus. "We are the first NBFC in the PSU sector that is going public for the first time and we shall be paving the way for others," he added. On plans to utilise the funds mopped up from the offer, he added that 10 per cent of the issuance will go to the company's balance sheet and that will increase its net worth and this the firm will be using for raising more money from the market. He further said that this will add to the company's capability to explore the market further and garner more funds from the market which is the order of the day because the government is in need of funds for its capex expansion outlay requirements. "Therefore 10 per cent will come to my balance sheet and 5 per cent will go to the government of India's exchequer," he added. Banerjee said the prospect for having a good IPO is "very much bright". "Everyone (domestic and foreign investors) has a lot of interest in this particular issue. We are extremely hopeful that it will hit the market with a bang," he said. Banerjee said COVID-19 has now come as a "blessing in disguise for us" as the market is flushed with funds and investors are looking to invest in safe havens. "Indian Railway Finance Corporation happens to be one of the safest havens as far as investors are concerned," he added. Banerjee is hopeful that the IPO will be one of the landmark issuances of the fiscal. "I hope that it will be one of the landmark issuances in this fiscal which augurs well for the other issuances that are coming forward for the government of India in this fiscal," the CMD said. The book running lead managers to the issue are DAM Capital Advisors, HSBC Securities and Capital Markets, ICICI Securities and SBI Capital Markets. Asked about the purpose of this IPO, he said, one of the purposes is to unlock the value that the company has built over so many years of its existence. "We have already traversed a period of 34 years since its inception in 1986. So, it will unlock the value of the company, it will bring in better corporate governance norms in the organisation which is extremely necessary in any public sector company. That will bring in more transparency in the working of the company," he said. The company's principal business is to borrow funds from the financial markets to finance acquisition/creation of assets which are then leased out to the <keyword id="6355455" type="COMPANY" weightage="20" keywordseo="indian-railways">Indian Railways</keyword>. The Union Cabinet had in April 2017 approved listing of five railway companies. Four of them -- IRCON International Ltd, RITES Ltd, <keyword id="185930" type="COMPANY" weightage="20" keywordseo="Rail-Vikas-Nigam-Ltd">Rail Vikas Nigam Ltd</keyword> and Indian Railway Catering and Tourism Corp -- have already been listed. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/oxford-covid-19-vaccine-serum-institute-seeks-emergency-use-nod-for-covishield-vaccine-in-india/articleshow/79600349.cms" data-type="tilCustomLink">Oxford COVID-19 vaccine: Serum Institute seeks emergency use nod for Covishield vaccine in India</a> <a href="https://www.businessinsider.in/india/news/section-144-extended-across-noida-and-greater-noida-till-january-2/articleshow/79600323.cms" data-type="tilCustomLink">Section 144 extended across Noida and Greater Noida till January 2</a>

Indian Railway Finance Corporation ₹4,600 crore IPO may hit markets this month

<ul><li><keyword id="366851" type="COMPANY" weightage="20" keywordseo="Spinny">Spinny</keyword>, a <keyword id="40524" type="PERSON" weightage="20" keywordseo="Used-Car">used car</keyword> platform, has announced a new round of funding worth $108 million. </li><li>The latest fundraise was led by Tiger Global, which has also backed unicorns like Flipkart, Zomato, MakeMyTrip, and Byju’s. </li><li>The company says it intends to use these funds to boost its growth and expand its footprint across India. </li></ul>Used car platform Spinny has raised $108 million (approx. ₹807 crore) in a new funding round led by US-based investment firm Tiger Global as it looks to fund its growth and boost its technology and product capabilities. In addition to Tiger Global, another US-based investment firm Avenir Growth has also participated in the round, said the company in a statement on Monday. “The newly raised capital will be deployed towards further stepping up the customer experience, strengthening technology and product capabilities, deepening market penetration in existing markets, and building teams across functions,” the company noted in its release. Till date, Spinny has raised $230 million (approx. ₹1720 crore) in funds. The latest Series D round saw Tiger Global lead with an investment of $75 million (approx. ₹560 crore), while Avenir Growth ploughed in $20 million (approx. ₹150 crore). It had raised $65 million (approx. ₹486 crore) in April this year, with General Catalyst leading that particular fundraise. <cmsannotation type="cmsannotation" annotationid="Understanding Spinny and its business" comment="subhead" text="Understanding Spinny and its business">Understanding Spinny and its business</cmsannotation> Spinny is a dedicated used car platform – it allows users to buy and sell pre-owned cars and promises quality as it uses a 200-point checklist and verification process. The company currently operates in 11 cities in India, including Bengaluru, Hyderabad, Pune, Gurugram, Noida, apart from the 4 metros. In addition to facilitating purchase and sale of cars, the company also handles the paperwork and offers financing options, too. The COVID-19 pandemic has put the brakes on auto sales across segments, but the used car industry has only seen a marginal decline, says a recent <a href="https://www.moneycontrol.com/news/technology/auto/covid-19-fails-to-deflate-used-car-market-6749491.html">report</a>. And with the second wave unlocking almost done, the used car market is all set to recover faster than new sales, says a GlobalData <a href="https://www.globaldata.com/used-car-market-recover-faster-new-sales-post-covid-19-second-wave-unlock-india-says-globaldata/">report</a>. A recent <a href="https://auto.economictimes.indiatimes.com/news/aftermarket/indian-used-car-market-to-touch-usd-70-8-billion-by-2030-report/82732254">report</a> by P&amp;S Intelligence suggests that the used car market in India will cross the $70 billion mark by 2030. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-multi-device-beta-how-to-download/articleshow/84542073.cms">WhatsApp multi-device beta – here’s how it works and how you can get it</a> <a href="https://www.businessinsider.in/careers/news/it-engineers-web-developers-students-can-take-benefits-of-state-government-internships/slidelist/84519217.cms">IT engineers, web developers and more — State governments are inviting applications for paid internships</a> <a href="https://www.businessinsider.in/tech/news/allegations-of-surveillance-on-specific-people-has-no-concrete-basis-or-truth-says-indian-government/articleshow/84540541.cms">Allegations of surveillance on specific people has no concrete basis or truth, says Indian government</a>

Used car platform Spinny raises $108 million to fund growth and expand its presence across India

Chief Minister Arvind Kejriwal has announced that malls, restaurants and religious places in Delhi would open from Monday after more than two months since the coronavirus lockdown was imposed, but banquets and hotels would remain closed. At an online briefing on Sunday, Kejriwal said hotels and banquets might be converted into hospitals in the coming days to treat the novel coronavirus patients and, therefore, they would remain shut. "Malls, restaurants and religious places will be opening from tomorrow in Delhi in accordance with Centre's guidelines," he said. The Delhi government will implement instructions -- like maintaining social distancing and wearing masks -- that the Centre and its experts have asked to be taken at these places, Kejriwal said. "In view of the rising number of coronavirus cases, we might attach hotels and banquets with hospitals and convert them into hospitals," he said. "Hotels and banquet halls will not be opened for now." The Centre had said on May 30 that 'Unlock-1' would be initiated in the country from June 8 and the coronavirus lockdown would be relaxed to a great extent. Kejriwal urged the elderly, who are at a higher risk of contracting the coronavirus disease (COVID-19), to confine themselves in a room and not to interact with anyone in their families in order to protect themselves. Delhi has so far registered over 27,500 coronavirus cases, including 761 deaths. SEE ALSO: <a href="https://www.businessinsider.in/india/news/with-233-fresh-cases-bihars-covid-19-tally-rises-to-4831/articleshow/76238545.cms">Bihar registers 233 new coronavirus cases with its overall tally rising to 4.831</a> <a href="https://www.businessinsider.in/india/news/noida-21-new-covid-19-cases-tally-591/articleshow/76238339.cms">Noida’s total coronavirus cases hit 591 with 21 new cases detected in the past 24 hours</a> <a href="https://www.businessinsider.in/india/news/342-new-coronavirus-cases-in-pune-district-six-deaths/articleshow/76239001.cms">Six more people die of coronavirus in Pune with 342 fresh cases</a>

Delhi malls, restaurants & religious places set to open on Monday, June 8

<ul><li>Most of the metro cities — Delhi, Bengaluru, Kolkata, Chennai — are ready to begin metro services again, except Mumbai. </li><li>The Metro services will be fully operational by September 12. However, stations in containment zones will remain shut. </li><li>People will have to use e-tickets only to use the services. </li></ul>The Indian government allowed states to resume metro services in a phased manner in Unlock 4.0 from September 7. Most of the cities — Delhi, Noida, Chennai, Kochi, Bangalore, Jaipur, Hyderabad, Kolkata, Gujarat and UP Metro (Lucknow) — are ready to begin metro services again except Mumbai. The Metro services will be fully operational in Delhi, Bengaluru, Kolkata, Chennai, Jaipur, Hyderabad by September 12. However, stations in containment zones will remain shut. Here’s how Metro services plan to unfold in Delhi: <ul><li>Will operate in two shifts from 7 am to 11 am and from 4 pm to 8 pm in phase 1. </li><li><keyword id="6366797" type="UNKNOWN" weightage="20" keywordseo="Delhi-Metro">Delhi Metro</keyword> Rail Corporation (DMRC) will start with the Yellow Line from Samaypur Badli to Huda City Centre on September 7. </li><li>From September 9, DMRC will restart three more lines - Blue Line, Pink Line and Gurgaon Line. </li><li>People will be allowed to enter the metro stations through selected gates. </li><li>The government has not made it compulsory for people to download the Aarogya Setu app but advises people to use it. </li><li>Also, for now, the use of smart cards to use the Delhi Metro is compulsory. </li><li>DMRC is suspending all cash transactions, hence people will have to use their debit/credit card to recharge their metro cards. </li><li>The government is also going to introduce a new smart card “Autope” which will be linked to the bank accounts and will be recharged automatically. </li><li>Passengers will have to leave alternate seats inside the train to ensure social distancing. </li><li>All the trains will skip stations location in containment zones. </li></ul>Here’s how Metro services plan to unfold in Bengaluru: <ul><li>The 6-coach trains will operate from 8-11 a.m. and 4.30-7.30 p.m. on the east-west route (purple line) from September 7 </li><li>Two days later, metro services on the north-south route (green line) will resume for 3 hours at the same time </li><li>From September 11, the service on both lines will operate for 14 hours - from 7 a.m. to 9 p.m. daily. </li><li>Use of Aarogya Setu app is not compulsory but encouraged by the state government. </li><li>Every commuter will have a thermal screening at the entrance, with a face mask or shield mandatory. </li><li>Sanitisers will be kept at the entrance of the stations. Spaces have been earmarked on platforms and inside coaches to maintain social distancing. </li><li>Only e-tickets will be issued. </li><li>The trains will run at a frequency of 5 minutes during peak hours and 10 minutes during non-peak hours from September 11. </li><li>There will be no more than 400 passengers at a time in a train and less than 50 passengers will be allowed to stand at the platform at a given time. </li></ul>SEE ALSO: <a href="https://www.businessinsider.in/india/news/pm-modi-twitter-account-hacked-heres-what-the-hacker-had-tweeted/articleshow/77902203.cms">Twitter account of PM Modi's personal website hacked — asks followers for Bitcoin donations</a> <a href="https://www.businessinsider.in/tech/news/facebook-india-grilled-by-parliamentary-committee-for-3-5-hours/articleshow/77902774.cms">Facebook India head grilled by parliamentary committee for 3.5 hours</a>

Delhi and Bengaluru to restart metro services from September 7 — Here are the guidelines all passengers have to follow

<ul><li>Uber asked the Delhi government to allow them to use 5,000 bike-taxis during the odd-even scheme. </li><li>As of now, regulations do not allow bike-taxis to operate in Delhi. </li><li>The company also proposed to re-deploy 2,500 bikes from its food delivery network (UberEats) to work as bike-taxis. </li></ul> US-based ride hailing platform Uber has made a submission to the Delhi government offering use of 5,000 bike-taxis to improve first and last mile connectivity during the odd-even scheme to be implemented next month, according to sources. Currently, regulations do not allow bike-taxis to operate in Delhi. According to sources, Uber has made the submission to the Delhi government proposing to deploy 5,000 bike-taxis to help ferry one lakh commuters to and from Metro stations every week. The service is proposed to be offered for a fee of Rs 5 per ride, they added. The company, which competes with Bengaluru-based Ola, has also proposed to re-deploy 2,500 bikes from its food delivery network (UberEats) to work as bike-taxis during the odd-even scheme that will be implemented from November 4-15. Uber did not respond to e-mailed queries on the matter. A Delhi government official said a proposal was received from the cab aggregator but no decision has been taken on it as yet. One of the persons aware of the development said bike-sharing provides a huge opportunity to unlock the potential of shared mobility through optimal utilisation of existing vehicles on the road. The person said Uber, in its submission, has cited data that one out of two UberMOTO trips in Gurugram began or ended at a Metro station, while one in four such trips in Noida began or ended near a Metro station. The odd-even scheme has been proposed as part of a slew of measures to combat high level of air pollution in Delhi caused due to stubble burning in neighbouring states during winters. During the 12-day scheme, vehicles will ply alternately on odd and even dates as per their registration numbers. In the previous two experiments in January and April in 2016, a fine of Rs 2,000 was imposed on violators of the rule. In the past, two-wheelers and female commuters were exempted from the rule.

Uber wants to run bike taxis to go with Delhi's odd-even scheme

<ul><li>On Sunday (November 3), <keyword id="2578389" type="ORGANIZATION" weightage="20" keywordseo="AQI">AQI</keyword> levels went beyond 1000 in multiple places in Delhi. </li><li><keyword id="6369698" type="UNKNOWN" weightage="20" keywordseo="corporates">Corporates</keyword> in Delhi have been facilitating work from home as well as providing flexible timings to help employees stay indoors.</li><li>Many have also installed advanced level air purifiers to control air quality inside office premises.</li></ul>Delhi’s severe <keyword id="55910" type="ORGANIZATION" weightage="20" keywordseo="Air-Pollution">air pollution</keyword> levels has everyone worried. Schools are shut, odd even scheme is announced, and masks are selling like hotcakes. On Sunday (November 3), AQI levels went beyond 1000, and just then, Monday blues for professionals took a serious turn. But corporates too have taken steps to protect their employees from Delhi’s toxic air Work from home Almost all major companies urged their employees to work from home and stay indoors. Companies like H&amp;M, Coca Cola, KFC and offered flexible work timings as well as work-from-home option. H&amp;M India <a href="https://www.latestly.com/india/news/delhi-air-pollution-hm-kfc-coca-cola-others-allow-employees-flexible-timings-work-from-home-options-1315079.html">reportedly</a> gave its employees the flexible timing option till November 15. Securing the workplace Many companies are securing their workplaces, making way for a sustainable approach. <keyword id="51757" type="COMPANY" weightage="20" keywordseo="TIMES-INTERNET">Times Internet</keyword> in its Delhi offices of Noida and Gurugram installed “electrostatic precipitators/chemical filters in the centralized air conditioning plant”. This ensures that the air quality inside the office premises ranges between good and satisfactory levels. Startups like <keyword id="44033" type="PERSON" weightage="20" keywordseo="hike">Hike</keyword> too installed the same in 2016. Hike’s advanced Oxidation system based on Ionized Hydro Peroxides. “The system is based on Advanced Oxidation Process (AOP) i.e., Hydrogen Peroxide to reduce microbial contamination and gaseous contamination . Hydro-Peroxides are very effective at destroying harmful microbial in the air and on the surfaces.It does not require the pollutants to travel to the unit for treatment or filtration. These oxidizers produced are friendly which means that revert back to oxygen and H2O after the oxidation of the pollutant,” explained the company. With this, the average AQI at Hike has been at 89 throughout October. <div type="image" title="AQI Level at Hike - 6th November 2019" msid="71940067" hostid="261" caption="&amp;lt;p&amp;gt;AQI Level at Hike - 6th November 2019&amp;lt;/p&amp;gt;"></div>

AQI level at Hike on November 6, 2019 No surge pricing Ride-hailing companies Ola and Uber both announced that they would cancel surge pricing as the Indian capital suffered. Uber started a campaign called #Leaveyourcarbehind, to promote shared mobility. Meanwhile, Ola announced that there will be no peak pricing on rides during the period of the odd-even scheme which is between November 4-15. “The implementation of the odd-even scheme offers an opportunity to further unlock the potential of shared mobility. We are ensuring that all our services across cabs, autos, bikes and shared cabs, will be available to serve citizens,” said Arun Srinivas, chief sales and marketing officer at Ola.

Delhi’s corporates are allowing work from home, installing air purifiers, to save their employees from pollution

<ul><li>Fiat Chrysler Automobiles announced its expansion plans to boost the local product line-up in India, with a commitment of investing over $250 million. It plans to roll out four new SUVs in 2021. </li><li>Not just Fiat, even the American multinational automaker Ford Motor had expressed plans to expand its presence in India. They are looking to launch <a href="https://www.zigwheels.com/upcoming-Ford-cars">four models</a> this year.</li><li>In an exclusive interview earlier with Business Insider, <a href="https://www.businessinsider.in/business/auto/news/kia-motors-11-electric-vehicles-in-2021-but-india-may-have-to-wait-longer-to-buy/articleshow/80056447.cms">Kia Motors India</a> revealed its plans to make India a global export hub for Kia Motors.</li><li>Nissan is already ramping up its production at its Chennai plant and has plans to add 1500 more jobs. </li></ul>With new investment plans of over $250 million (₹1,824 crore), Fiat Chrysler (FCA) joins the likes of other multinational giants like Ford, Kia, and Nissan that are already betting big on India’s potential in the coming years. Fiat has announced its mega investment plans to build its presence in the country by launching four new sport-utility vehicles (SUVs) under its Jeep brand over the next two years. The American multinational automaker Ford Motor has also charted out growth plans in India, and it is going solo too. At the beginning of this year, Ford called off its joint venture with Mahindra and Mahindra (M&amp;M). While the move may affect some plans to launch new variants, Ford remains gung-ho on its India expansion plans and has a slew of launches scheduled for 2021. Even Kia Motors’ India <a href="https://www.businessinsider.in/business/auto/news/kia-motors-11-electric-vehicles-in-2021-but-india-may-have-to-wait-longer-to-buy/articleshow/80056447.cms">revealed </a>its plans to make India a global export hub for the auto giant, in an exclusive interview with Business Insider. And Nissan too is no less than its peers, the company is already ramping up its production at its Chennai plant and has plans to add 1500 more jobs. These announcements come at a time when the pandemic has battered automakers around the world with subdued sentiment and a decline in sales. In fact, the Indian auto sector was witnessing a slowdown and BSVI transition challenges even before the pandemic struck. Japan’s Honda Motor was forced to shutter one of its plants <a href="https://www.bloombergquint.com/business/honda-said-to-shut-india-plant-and-reduce-four-wheeler-output">in Noida</a>, while General Motors (GM) stopped producing cars in India for <a href="https://www.rushlane.com/general-motors-india-plant-shut-down-12387365.html">export </a>in international markets. But that isn’t discouraging these companies. And it opens up more room for competition. Whether in terms of money, setting up newer plants and tech centres, or research &amp; development, Ford, Fiat, and other global auto companies are making a move to grab their share in India’s automotive market. So what makes India attractive for these automakers? Fiat’s $250 million India investment plans Fiat currently holds less than a 1% share of India’s passenger vehicle market but is looking to expand its operations with four new products that will hit Indian roads by the end of 2022. It is determined to increase its locally-made componentry in vehicles produced in its joint venture manufacturing facility. “Our plans in India are aimed at increasing the value proposition for customers through our products and services, working hard on customer satisfaction and unlocking business opportunities for our business partners,” FCA India Managing Director, Dr Partha Datta said. The all-new local vehicle line-up includes the 2021 made-in-India Jeep Compass, a locally produced and global-first three-row Jeep SUV, as well as the iconic Jeep Wrangler and next-generation Grand Cherokee flagship, which will both be locally assembled in FCA’s joint venture manufacturing facility in Ranjangaon. The company’s Jeep brand made its debut in India in 2016 and carved a premium position in India. Fiat is now planning to unveil the 2021 Jeep Compass in India on January 7, and production has already commenced. The luxury seven-seat mid-size Jeep, codenamed H6, will be launched in 2022. Fiat’s $250 million investment plans in India are in addition to the $450 million they have already committed over the past five years. They have also recently invested in setting up a <a href="https://www.businessinsider.com/fiat-chrysler-to-spend-150-million-setting-up-global-tech-centre-in-india-2020-12?IR=T">tech centre </a>in Hyderabad. Fiat aims to create at least 1000 new jobs by the end of 2021. Ford is betting big on India The American multinational automaker Ford Motor is expanding its presence in India. From its Focus ST to Ranger Raptor and Figo to EcoSport — the company had a slew of launches scheduled for 2021. And they are all set to go at it solo in India Ford had signed a joint venture with M&amp;M in October 2019 to produce vehicles for emerging markets. However, on January 1, they pulled the plug on this partnership due to the challenges caused by the COVID-19 pandemic. Ford intends to continue its standalone business in the country. <div type="image" title="caleb-white-XGJBSkoqX_I-unsplash" msid="80112736" hostid="261"></div> On January 4, Ford India <a href="https://indianexpress.com/article/business/companies/ford-ecosport-2021-launched-in-india-price-features-mileage-7132375/">introduced</a> the 2021 line-up of its compact SUV EcoSport with enhanced connectivity features and an enhanced warranty at a starting price of ₹7.99 lakh. Kia also has big plans for India In an exclusive interview earlier with Business Insider, Kia India <a href="https://www.businessinsider.in/business/auto/news/kia-motors-11-electric-vehicles-in-2021-but-india-may-have-to-wait-longer-to-buy/articleshow/80056447.cms">revealed </a>its plans to make India a global export hub for Kia Motors. “For us at Kia, the new production-linked incentive (PLI) scheme certainly puts the spotlight on India and makes it even more important in our global scheme of things. Now, with the new scheme, we will be able to offer even more competitive and globalized products and reach more markets,” Tae-Jin Park, Executive Director &amp; Chief Sales Officer at Kia India, told Business Insider. <div type="image" title="Kia Motors" msid="80112770" hostid="261"></div> The government’s PLI scheme includes incentives of ₹57,000 crore over five years for the automotive sector and focuses on making Indian companies globally competitive by driving exports. According to the Nomura report dated December 28, the eligibility criteria are likely to be such that companies with high export revenue could be the key beneficiaries of the scheme. The global automakers are pushing ahead with big plans for India in the coming years. Even Japanese auto major Nissan is ramping up its production at its Chennai plant and starting a third shift to increase output. On Monday, the company <a href="https://auto.hindustantimes.com/auto/news/nissan-india-to-hire-1-500-workers-to-enhance-production-bolster-sales-force-41609759373497.html">said</a>, along with its dealer partners, it will hire 1,500 people in India to enhance production and reinforce the sales force after the robust response to its newly launched compact SUV Magnite. This comes after the company announced plans to layoff 1,700 people in India in 2019. SEE ALSO: <a href="https://www.businessinsider.in/india/news/tatas-got-airasia-stake-at-a-20-discount-while-indigo-and-spicejets-value-has-doubled-since-pandemic-broke-out/articleshow/80101467.cms" data-type="tilCustomLink">Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out</a> <a href="https://www.businessinsider.in/business/news/kishore-biyani-lashes-out-at-amazon-says-future-group-was-disillusioned-and-fed-up-with-the-companys-lackadaisical-attitude/articleshow/80107540.cms" data-type="tilCustomLink">Kishore Biyani lashes out at Amazon, says Future Group was disillusioned and fed up with the company's lackadaisical attitude</a>

You Searched For "Noida unlock 4" and got 11 results

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