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Tata Group chairman <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword> breathed his last on Wednesday (October 9) at Breach Candy Hospital in Mumbai. On Monday, the industrialist was admitted to the hospital for age-related issues. As soon as the news of his death broke, people started remembering the philanthropic businessman and social media is full of reactions. From actors to other business leaders, a lot of prominent figures reacted to Ratan Tata's demise. From <keyword id="6354583" type="General" weightage="20" keywordseo="salman-khan" source="Orion">Salman Khan</keyword> and <keyword id="1655" type="General" weightage="20" keywordseo="priyanka-chopra" source="Orion">Priyanka Chopra</keyword> Jonas to Ranveer Singh and <keyword id="6357860" type="General" weightage="20" keywordseo="anushka-sharma" source="Orion">Anushka Sharma</keyword>, Bollywood celebs also expressed their sorrow on social media. Let us take a look at some reactions. Superstar Salman Khan expressed his sorrow on X (formerly Twitter), writing, “Deeply saddened by the passing of Mr. Ratan Tata,” capturing the emotional weight of the moment. Ajay Devgn echoed the sentiment, describing Tata as a visionary whose impact transcended business: “The world mourns the loss of a visionary. Ratan Tata’s legacy will forever inspire generations. His contributions to India and beyond are immeasurable. We are deeply grateful. Rest in peace, Sir.” Anushka Sharma, sharing her thoughts on Instagram, lauded Tata for his integrity and grace: “Deeply saddened by the news of Shri Ratan Tataji. He upheld the values of integrity, grace, and dignity through everything he did and was truly an icon and Taj of India. RIP sir, you have touched so many lives.” Priyanka Chopra Jonas reflected on Tata’s kindness and leadership, noting, “Through your kindness, you touched the lives of millions. Your legacy of leadership and generosity will continue to inspire generations. Thank you for your unmatched passion and dedication to everything you did for our country.” Many others in the industry also shared their admiration for Tata. Sanjay Dutt called him a beacon of integrity, saying, “India has lost a true visionary today. He was a beacon of integrity and compassion whose contributions went beyond business, impacting countless lives.” Randeep Hooda hailed Tata as “India’s most valuable man,” saying that his worth was measured by his values rather than wealth. "India’s most valuable man, not necessarily for his vast wealth, but for his values.. largest being Integrity !! Never a show off but always the star ⭐️ The life #RatanTata ji led will always be an inspiration,"Hooda wrote in a post on X. Varun Dhawan, in a heartfelt Instagram post, shared a throwback picture of Tata, simply writing, “RIP sir RATAN TATA,” while Riteish Deshmukh took to X, stating, “Deeply saddened to know that Shri #RatanTata ji is no more. Condolences to the family and loved ones. Rest In Glory Sir.” Ranveer Singh paid tribute by sharing a monochrome photo of Tata with a simple infinity emoji, highlighting the eternal impact Tata will leave on the country. Actor R Madhavan also shared his admiration, writing, “A visionary, a gentleman of the highest order, an inspiration for generations, leaves behind a void that can never be filled.” <keyword id="19959949" type="General" weightage="20" keywordseo="sushmita-sen" source="keywords">Sushmita Sen</keyword> and Karan Johar both paid their respects, while Dharmendra expressed his regret at never having met Tata, calling him a “Humble King” who treated his workers like family. “Sir, you will always be remembered with great love and respect,” he added. Filmmaker Rohit Shetty called Ratan Tata a “real hero,” while music maestro AR Rahman offered a poignant reflection: “Some icons are living textbooks, teaching us about leadership, success, and legacy. Extraordinary yet human and approachable, they inspire and guide us. India has lost a true son and champion. Rest in peace, Ratan ji.” <keyword id="19895145" type="General" weightage="20" keywordseo="vicky-kaushal" source="keywords">Vicky Kaushal</keyword> also expressed his grief, writing, “Never could meet him… but adored, admired and respected everything he said and did for society. Lost a legend. May his soul rest in peace.” Other notable tributes came from stars like SS Rajamouli, Jr NTR, Prithviraj Sukumaran, and Rana Daggubati, who all shared their deep respect for Tata’s leadership and humanitarian work. Rajamouli, in particular, remarked, “Legends are born, and they live forever… Ratan Tata’s legacy is woven into everyday life.” The passing of Ratan Tata has left a profound void, but the legacy he has built in business, philanthropy, and ethics will continue to inspire and guide future generations.

'Humble king who looked after his workers like children': Bollywood reacts to Ratan Tata’s demise

Prime Minister <keyword id="6354477" type="General" weightage="20" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> has expressed deep sorrow over the death of <keyword id="19981455" type="General" weightage="100" keywordseo="Ratan-Tata" source="keywords">Ratan Tata</keyword>, Chairman Emeritus of <keyword id="19991117" type="General" weightage="20" keywordseo="Tata-Sons" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Sons" meta.hostid="261" meta.entityid="Tata Sons">Tata Sons</keyword>, who passed away on Wednesday evening. In a series of heartfelt posts on X, <keyword id="19899320" type="General" weightage="20" keywordseo="PM-Modi" source="keywords">PM Modi</keyword> shared his admiration for Tata’s leadership, <keyword id="20202027" type="General" weightage="20" keywordseo="philanthropy" source="keywords">philanthropy</keyword>, and enduring impact on Indian society. “Ratan Tata Ji was a visionary business leader, a compassionate soul, and an extraordinary human being,” PM Modi wrote. He praised Tata’s role in steering one of India’s most respected business groups and acknowledged how his contributions extended far beyond the corporate world. “He provided stable leadership to one of India’s oldest and most prestigious business houses. At the same time, his contribution went far beyond the boardroom. He endeared himself to many through his humility, kindness, and unwavering commitment to improving society,” Modi added. The Prime Minister expressed personal grief, writing, “Extremely pained by his passing away. My thoughts are with his family, friends, and admirers in this sad hour. Om Shanti.” Reflecting on his long-standing relationship with the industrialist, PM Modi reminisced about their frequent meetings during his time as Chief Minister of Gujarat, describing the exchanges as enriching. “My mind is filled with countless interactions with Shri Ratan Tata Ji. I would meet him frequently in Gujarat when I was the CM. We would exchange views on diverse issues. These interactions continued when I came to Delhi.” In his tribute, Modi highlighted Tata’s passion for championing social causes. “One of the most unique aspects of Shri Ratan Tata Ji was his passion for dreaming big and giving back. He was at the forefront of championing causes like education, healthcare, sanitation, and animal welfare.” Defence Minister Rajnath Singh also paid tribute to the late industrialist, referring to Tata as a “Titan of <keyword id="20642696" type="General" weightage="20" keywordseo="Indian-industry" source="keywords">Indian industry</keyword>.” In a post on X, Singh said, “Saddened by the passing away of Shri Ratan Tata. He was a Titan of the Indian industry known for his monumental contributions to our economy, trade, and industry.” Tata, born on 28 December 1937 in Mumbai, was the driving force behind the growth of the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> from 1991 until his retirement in 2012. He was also known for his philanthropy, serving as Chairman of the Ratan Tata Trust and Dorabji Tata Trust, two of India’s largest private-sector philanthropic organisations. In 2008, he was honoured with the Padma Vibhushan, the country’s second-highest civilian award.

PM Narendra Modi condoles Ratan Tata's death: 'A visionary business leader and a compassionate soul'

The <keyword id="19924335" type="General" weightage="100" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> is set to create a massive 5 lakh jobs in the manufacturing sector over the next five years, spanning industries such as <keyword id="20009962" type="General" weightage="20" keywordseo="semiconductors" source="keywords">semiconductors</keyword>, <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> (EVs), batteries, and precision manufacturing. Tata Sons Chairman, <keyword id="19981536" type="General" weightage="20" keywordseo="N-Chandrasekaran" source="keywords">N Chandrasekaran</keyword>, made this announcement on Tuesday, underlining the critical role manufacturing will play in India’s ambition to become a developed nation. Speaking at a symposium organised by the Indian Foundation for Quality Management, Chandrasekaran highlighted that India’s progress depends heavily on its ability to generate <keyword id="22266334" type="General" weightage="20" keywordseo="manufacturing-jobs" source="keywords">manufacturing jobs</keyword>. He stressed that creating employment in this sector is crucial, given the influx of new workers entering the job market each month. “Through our investments in semiconductors, electric vehicles, precision manufacturing, and related industries, Tata Group expects to generate 5 lakh jobs over the next five years,” Chandrasekaran said as per a PTI report. He pointed to the group’s upcoming semiconductor plant in Assam and new manufacturing facilities for electric vehicles and batteries as significant contributors to this <keyword id="20268654" type="General" weightage="20" keywordseo="job-creation" source="keywords">job creation</keyword>. Chandrasekaran also talked about the broader impact of these initiatives, explaining that job creation in manufacturing has a multiplier effect, with numerous indirect employment opportunities arising from these projects. According to his calculations, for every direct job created in sectors like semiconductors, up to ten additional indirect jobs could emerge. The Tata Group’s investments will also spur the growth of small and medium enterprises (SMEs), with an estimated 5 lakh such businesses expected to form as part of the evolving ecosystem supporting these industries. While praising the government’s support for these initiatives, Chandrasekaran said that India’s vision of becoming a “Viksit Bharat” (developed India) cannot be achieved without substantial growth in manufacturing employment. “Every month, one million people join the workforce, and we need to create 100 million jobs,” he added, reinforcing the urgency of job creation in new-age industries. (With PTI inputs)

Tata Group will generate 5 lakh jobs in 5 years, says Tata Sons Chairman N Chandrasekaran

<keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword> Chairman N. Chandrasekaran has been honoured with France's highest order of merit, Legion d'Honneur, for bolstering relations and building business between India and France. The award was conferred on Chandrasekaran, 59, on Tuesday at the Foreign Ministry in Paris by Minister <keyword id="14065140" type="General" weightage="50" keywordseo="catherine-colonna" source="Orion">Catherine Colonna</keyword>, Minister of Europe and Foreign Affairs. He was accompanied by his wife Lalitha and son Pranav. "<keyword id="6355725" type="General" weightage="50" keywordseo="tata-group" source="Orion">Tata Group</keyword> is a major player in the Franco-Indian partnership: I had the pleasure of presenting its CEO, on behalf of the President of the Republic, with the insignia of Chevalier de la Legion d'honneur. Dear Natarajan Chandrasekaran, you are a friend of France," Colonna tweeted after presenting the award. "Dear Natarajan Chandrasekaran, you are a true friend of France," Ambassador of France to India, Emmanuel Lenain tweeted. The Legion of Honour is the highest French order of merit, both civil and military. It was established in 1802 by Napoleon Bonaparte. France is one of India's largest scientific partners, with over 25 R&amp;D centres, 15 joint Indo-French research laboratories, and 500 collaborative projects in the country. There are currently 10 <keyword id="8555" type="General" weightage="100" keywordseo="tata" source="Orion">Tata</keyword> group companies operating in France, according to Indo-French Chamber of Commerce and Industry (IFCCI) Director General Payal S. Kanwar. "The Tata family has deep-rooted ties with France right from JRD Tata who was half French and born in Paris to <keyword id="201933" type="General" weightage="50" keywordseo="simone-tata" source="Orion">Simone Tata</keyword> who was incidentally one of the founders of IFCCI. The recent historic order of 250 Airbus A320neos and A350s along with 800 Safran motors for Air India has further boosted business between both countries!" Kanwar wrote on her Instagram. Last year, Chandrasekaran got a five-year extension as the chairman of Tata Sons, the holding company and promoter of more than 100 Tata operating companies with aggregate annual revenues of more than $100 billion. He also chairs the boards of several group operating companies, including Tata Steel, Tata Motors, Tata Power, Tata Global Beverages, Indian Hotels Company and Tata Consultancy Services (TCS), of which he was chief executive from 2009-17. In addition to his professional career at Tata, Chandra was also appointed as a director on the board of India's central bank, the Reserve Bank of India, in 2016. He was appointed on the International Advisory Council of Singapore's Economic Development Board in 2018. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/ondc-not-an-immediate-risk-for-zomato-and-swiggy-as-lower-prices-are-due-to-discounts/articleshow/100298963.cms">ONDC not an immediate risk for Zomato and Swiggy as lower prices are due to discounts</a> <a href="https://www.businessinsider.in/stock-market/news/five-reason-why-markets-will-not-run-up-further-from-here/articleshow/100294718.cms">Five reasons why markets will not run up further from here</a> <a href="https://www.businessinsider.in/business/news/indias-super-rich-will-double-in-numbers-to-1-6-million-by-2027-knight-frank/articleshow/100298454.cms">India’s super rich will double in numbers to 1.6 million by 2027: Knight Frank</a>

Tata Sons chairman Chandrasekaran bestowed with France's highest civilian award

<ul><li>Last November, <keyword id="115415" type="General" weightage="20" keywordseo="Bisleri" source="Orion">Bisleri</keyword> International’s chairman Ramesh Chauhan said that they were in talks with Tata Consumer Products for a possible stake sale.</li><li>Bisleri has been in talks with Tata Group for more than two years.</li><li>Chauhan had even met <keyword id="4057577" type="General" weightage="20" keywordseo="Tata-Sons-chairman-N-Chandrasekaran" source="Orion">Tata Sons chairman N Chandrasekaran</keyword> and <keyword id="16826654" type="General" weightage="20" keywordseo="Tata-Consumer-CEO-Sunil-DSouza" source="Orion">Tata Consumer CEO Sunil D'Souza</keyword>.</li><li>There have been reports of several buyers at different times, including Reliance Retail, Nestle and Danone.</li></ul>Tata Consumer Products, the Kolkata based FMCG wing of the Tata Group, has informed exchanges that it has ceased negotiations with Bisleri for a potential stake in the company. <a href="https://www.businessinsider.in/business/news/tata-consumer-to-acquire-bisleri-for-around-rs-7000-crore-report/articleshow/95734960.cms">Last November</a>, an Economic Times report said that Bisleri International’s chairman Ramesh Chauhan was planning to divest the company and was in talks with Tata Consumer Products for an estimated buyout of ₹6,000-7,000 crore. “In this regard, the Company wishes to update that it has now ceased negotiations with Bisleri with regard to a potential transaction and to confirm that the Company has not entered into any definitive agreement or binding commitment on this matter,” said Tata Consumer Products in an exchange filing. Bisleri is India's largest packaged water company. Reports also said that Chauhan, aged 82, does not have a successor to take Bisleri to the next level of expansion. In an <a href="https://economictimes.indiatimes.com/news/india/tata-consumer-to-acquire-bisleri-for-about-7000-crore/articleshow/95726148.cms">interview to ET </a>last year, Chauhan had said that he believed the Tata Group "will nurture and take care of it even better," while it was still a painful decision for him. "I like the Tata culture of values and integrity and hence made up my mind despite the aggression shown by other interested buyers," he said. There have been reports of several buyers at different times, including Reliance Retail, Nestle and Danone. As per reports, Bisleri has been in talks with Tata Group for more than two years. Chauhan had even met Tata Sons chairman N Chandrasekaran and Tata Consumer CEO Sunil D'Souza. Currently, Tata Consumer Products sells packaged mineral water under the Himalayan brand with products — Tata Copper Plus Water, Tata Gluco plus, Himalayan Sparking, Himalayan Still water. Bisleri was originally an Italian alcohol remedy drink created by 19th century inventor Felice Bisleri. In 1965, Italian doctor Cesari Rossi and Indian businessman Khushroo Suntook introduced Bisleri bottled water in India by setting up a factory in Thane. Later the companyacquired the struggling Bisleri brand in 1969. Bisleri has 150 operational plants and a network of 6,000 distributors and 7,500 trucks across India and neighbouring countries. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-achievements-during-rajesh-gopinathans-tenure/slidelist/98729647.cms">TCS’ achievements under the stewardship of outgoing CEO Rajesh Gopinathan</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/reliance-shares-down-22-from-all-time-high-attractive-entry-opportunity-says-jp-morgan/articleshow/98725589.cms">Reliance shares down 22% from all-time high: Attractive entry opportunity, says JP Morgan</a>

Tata Consumer Products ceases talks with Bisleri for a potential acquisition

Full-service carrier <keyword id="2467342" type="General" weightage="80" keywordseo="vistara" source="Orion">Vistara</keyword> will continue to expand and expects to have a total of 70 planes by mid-2024, its chief <keyword id="7656482" type="General" weightage="100" keywordseo="vinod-kannan" source="Orion">Vinod Kannan</keyword> said on Tuesday. The airline, a joint venture between <keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword> and Singapore Airlines, reported an operating profit for the first time since its inception in the three months that ended December 2022. By the middle of next year, <keyword id="106910" type="General" weightage="80" keywordseo="kannan" source="Orion">Kannan</keyword> said it will have a total of 70 aircraft, including 7 Boeing 787s. Out of the total 70 planes, there will also be 10 A321s and 53 A320 neos, the Vistara CEO said at a briefing. Among the 53 A320 neos, 10 planes will have all economy class and the rest will have three classes. Currently, the airline has a fleet of 53 aircraft. "We will continue to expand... more international routes (will be added)," Kannan said. Without disclosing the exact profit figure in the December quarter, the airline also said it crossed the USD 1 billion revenue mark and remained EBITDA positive in the current fiscal year. EBITDA refers to Earnings Before Interest, <keyword id="6368033" type="General" weightage="50" keywordseo="taxes" source="Orion">Taxes</keyword>, Depreciation and Amortisation. "For the first time since inception, the airline reported a net profit (excluding unrealised foreign currency loss and non-operating income) for the quarter ended December 2022," Vistara said in a release on Monday.'' SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/top-hybrid-cars-in-india-in-2023/articleshow/97278936.cms">Top hybrid cars in India in 2023: Maruti Suzuki Grand Vitara, Honda City eHEV, and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tata-coffee-consolidated-q3-net-profit-falls-45-to-38-crore/articleshow/97279331.cms">Tata Coffee consolidated Q3 net profit falls 45% to ₹38 crore</a>

Vistara to have 70 planes in fleet by mid-2024: CEO Vinod Kannan

<keyword id="2467342" type="General" weightage="100" keywordseo="vistara" source="Orion">Vistara</keyword>, a joint venture of <keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword> and <keyword id="6368386" type="General" weightage="50" keywordseo="singapore-airlines" source="Orion">Singapore Airlines</keyword>, has reported a net profit (excluding unrealised foreign currency loss and non-operating income) for the quarter that ended December 2022. The airline crossed the $1 billion revenue mark and remained EBITDA positive in the current fiscal year and reported break-even for the first time in the quarter. Vistara on Monday said that it delivered remarkable results for the first time since its inception in 2013. The airline achieved its highest-ever domestic market share of 10.4 per cent in July 2022 and maintained its position as the second largest domestic airline in India since then, flying more than 11 million passengers in the calendar year 2022. Vistara also registered an 11 per cent year-on-year growth in the member base for its frequent flyer program, Club Vistara. Vistara grew its international network by over 180 per cent in 2022, by adding seven additional routes including three new destinations (Jeddah, Abu Dhabi and Muscat). It also grew its domestic network by over 50 per cent, by adding six new routes including two new destinations (<keyword id="6361828" type="General" weightage="50" keywordseo="coimbatore" source="Orion">Coimbatore</keyword> and Jaipur). For the quarter that ended December 2022, the airline grew its capacity by 37 per cent and passengers by 47 per cent compared to the same period last year. The airline recorded the second-highest on-time performance at four key metros and over 85 per cent domestic load factor for most of the year in 2022. This year, Vistara became the only Indian airline to be featured in Skytrax's list of the World's Top 20 airlines. The airline currently has over 5,000 employees and operates close to 8,500 flights per month. <keyword id="7656482" type="General" weightage="50" keywordseo="vinod-kannan" source="Orion">Vinod Kannan</keyword>, Chief Executive Officer of Vistara, said: "With significant network and fleet expansion and sustained growth over the last few months, 2022 has been a phenomenal year for Vistara in terms of our operational and financial performance. Each member of the Vistara family is incredibly proud of our collective achievements in an extremely challenging business environment that included the third wave of the pandemic and escalating costs. We are now aiming for higher goals as we enter the next phase of our growth journey." Vistara has augmented its operations from its hubs in Delhi and Mumbai and currently operates more than 75 and 50 daily domestic departures from the two cities, respectively. With the delivery of 10 aircraft and the re-delivery of eight aircraft, the airline expanded its fleet size to 53 in 2022, said the airline. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/amazon-launches-dedicated-air-cargo-service-for-faster-deliveries-in-india/articleshow/97246478.cms">Amazon launches dedicated air cargo service for faster deliveries in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/over-9-in-10-indian-consumers-want-all-in-one-platform-for-entertainment-accenture/articleshow/97247178.cms">Over 9 in 10 Indian consumers want all-in-one platform for entertainment: Accenture</a>

Vistara reports net profit, crosses $1 billion revenue mark in FY23

<ul><li>This year will likely be remembered for marking its emergence as the world's most populous nation.</li><li>By 2050, the UN expects <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> will have 1.6 billion residents and China 1.3 billion.</li><li>A growing working-age population is an important source of economic growth, so India's emergence will give it new power in international politics.</li></ul> If any major middle-income country is truly outperforming in the coming decades, it's the world's soon-to-be third largest economy (and its largest democracy), India, Eurasia Group said in a report. "In my view, 2023 will be remembered for India's emergence as the third pole of the world," wrote <keyword id="15992875" type="General" weightage="50" keywordseo="shigesaburo-okumura" source="Orion">Shigesaburo Okumura</keyword>, Editor-in-Chief of Nikkei Asia, in a recent article. Another important factor not to be neglected is India. This year will likely be remembered for marking its emergence as the world's most populous nation, Okumara wrote. According to the UN, China's population last year was 1.426 billion while India's was 1.417 billion. In July, the UN forecast that China's population would fall in 2023 while India's would surpass it. By 2050, the UN expects India will have 1.6 billion residents and China 1.3 billion. A growing working-age population is an important source of economic growth, so India's emergence will give it new power in international politics, Okumara said. Moreover, decoupling between the US and China and the rebuilding of technology supply chains to exclude China benefits India. <keyword id="6354427" type="General" weightage="50" keywordseo="apple" source="Orion">Apple</keyword> is building iPhone 14s in India. <keyword id="292865" type="General" weightage="50" keywordseo="natarajan-chandrasekaran" source="Orion">Natarajan Chandrasekaran</keyword>, chairman of <keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword>, has talked of plans to produce semiconductors in the subcontinent. In March, India will host the plenary session of the <keyword id="833063" type="General" weightage="50" keywordseo="trilateral-commission" source="Orion">Trilateral Commission</keyword> for the first time. This year, it is also chairing the Group of 20, a role that will involve a leaders' summit and many ministerial meetings. The Modi government will be eager to show leadership ahead of India's own elections in 2024, Okumara wrote. "The new year thus could mark the beginning of a tripolar world, involving the US, China and India. New Delhi is undeniably on the rise," Okumara concluded. <keyword id="47256" type="General" weightage="50" keywordseo="challenges" source="Orion">Challenges</keyword>, however, are mounting for India's economy with the GDP forecast at a half-century low. Motilal Oswal Financial Services forecast in a note that after growing strongly for two consecutive years, India's real GDP growth would decelerate to 5.2 per cent YoY in FY24, while nominal GDP growth would weaken even sharply to 7-7.5 per cent, led by easing inflation. A combination of factors such as slower global economy, fading pent-up demand and normalising base effects would contribute to slower real growth. With an expected retail inflation print at just 4.3 per cent and a mere 1 per cent growth in the wholesale price index (<keyword id="46000" type="General" weightage="50" keywordseo="wpi" source="Orion">WPI</keyword>) in FY24, the GDP deflator could be around 2 per cent, dragging down India's nominal GDP growth to the lowest level compared to any year between the early 1970s and FY19 (that is, half-a-century pre-Covid period), the report said. Such slow growth rate would have some serious implications for the macro economy and financial markets. "Overall, we believe that unlike the past 12-15 months, the narrative will reverse in FY24. Inflation concerns will take a back seat and growth worries will resurface. This may be true not only for India, but also for the entire global economy. At the same time, restrictive monetary policy will fail to boost financial markets. Accordingly, CY23 could be very painful," the report said. Revenue of listed companies is highly correlated with nominal GDP growth (and WPI-inflation). In case of single-digit nominal GDP growth, corporate sales growth is also expected to weaken from an average of &gt;30 per cent YoY in the past seven quarters to single digits in FY24. With an expectation of weaker nominal GDP growth in FY24, we estimate India's debt growth to also weaken. Thus, bank credit growth could also moderate from 15-16 per cent in FY23 to 12 per cent in FY24 with a downward bias, the report said. As central banks across the world simultaneously hike interest rates in response to inflation, the world may be edging toward a global recession in 2023 and a string of financial crises in emerging market and developing economies that would do them lasting harm, according to a comprehensive new study by the <keyword id="6354424" type="General" weightage="50" keywordseo="world-bank" source="Orion">World Bank</keyword> in September. Several historical indicators of global recessions are already flashing warnings. The global economy is now in its steepest slowdown following a post-recession recovery since 1970. Global consumer confidence has already suffered a much sharper decline than in the run-up to previous global recessions. The world's three largest economies -- United States, China, and the Euro zone -- have been slowing sharply. The experience of the 1970s, the policy responses to the 1975 global recession, the subsequent period of stagflation, and the global recession of 1982 illustrate the risk of allowing inflation to remain elevated for long while growth is weak. The 1982 global recession coincided with the second-lowest growth rate in developing economies over the past five decades, second only to 2020. It triggered more than 40 debt crises and was followed by a decade of lost growth in many developing economies, the World Bank said. India's current account deficit expectedly swelled to a 37-quarter high of $36.4 billion (4.4 per cent of GDP) in Q2 FY23 from $18.2 billion in Q1 FY23 (2.2 per cent of GDP). The resulting net balance of payments (BoP) position registered a deficit of $30.4 billion (3.7 per cent of GDP), its weakest since the 2008 global financial crisis, compared to a surplus of $4.6 billion in Q1 FY23, Acuite Ratings said. Amid an uncertain geopolitical environment and slowing global growth, however, risks will remain on both current account balance and capital flows, it said. With excessive demand supply disparities, bloated supply chain management and battle against inflation weighing down on global economic growth, the New Year started on a gloomy outlook as IMF predicts global GDP growth topping at 2.7 per cent, narrowly escaping recession, Nuvama Professional Clients Group said in a note. The economy has been supported by sturdy domestic demand as indicated in GST collections and consumer spending. However, the industrial output contracted by 4 per cent YoY in October, the worst in over two years, hobbled by the drop in orders from western markets and weak investment at home, the note said. Standard Chartered said in a report that 2023 global macroeconomic backdrop is likely to be challenging given the heightened risk of a slowdown as lagged effects of monetary policy tightening leads to a weaker demand scenario and lower corporate earnings performance. As the monetary policy rate cycle peaks amid receding inflationary pressures in the second half of the year, risk sentiment could improve with the growth outlook stabilising. "In our assessment," the bank noted, "India's growth-inflation dynamics is stable and better than its peers." The post-pandemic economic recovery cycle remains strong amid supportive government policies and a pick-up in investments. Further, the likely broadening of the rural economy's recovery and of the service sectors is a strong tailwind, the note said. 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India could emerge as the third pole despite GDP growth worries say experts

Police in <keyword id="13126" type="General" weightage="50" keywordseo="maharashtra" source="Orion">Maharashtra</keyword>'s Palghar district have obtained the <keyword id="6354857" type="General" weightage="80" keywordseo="cctv" source="Orion">CCTV</keyword> footage of the ill-fated <keyword id="6357420" type="General" weightage="50" keywordseo="mercedes" source="Orion">Mercedes</keyword> car in which <keyword id="6356895" type="General" weightage="80" keywordseo="cyrus-mistry" source="Orion">Cyrus Mistry</keyword>, former chairman of <keyword id="46894" type="General" weightage="50" keywordseo="tata-sons" source="Orion">Tata Sons</keyword>, was travelling to Mumbai, shortly before it crashed, killing him and his friend, an official said on Monday. The footage shows the car passing through the Dapchari check post in Palghar district at 2.21 pm on Sunday, he said. The car hit a road divider on a bridge over the Surya river on the Mumbai-Ahmedabad Highway at around 3 pm, killing <keyword id="6391150" type="General" weightage="100" keywordseo="mistry" source="Orion">Mistry</keyword> (54) and his friend Jahangir Pandole on the spot. The police team probing the crash are examining the CCTV footage for further leads, the official said. Another police officer said the person behind the wheel had covered a distance of 20km in just nine minutes, meaning the luxury car was being driven at a speed of 180-190 km per hour. The car was being driven by Mumbai-based gynaecologist Anahita Pandole (55), a family friend of Mistry, police have said. She and her husband Darius Pandole (60) were seriously injured in the accident and are undergoing treatment in a Mumbai hospital. The probe team will submit a detailed report which will be forwarded to Maharashtra Deputy Chief Minister Devendra Fadnavis, who has ordered an investigation into the road accident, he said. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/dreamfolks-services-beats-grey-market-expectations-lists-at-a-55-premium/articleshow/94017839.cms">DreamFolks Services beats grey market expectations, lists at a 55% premium</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-external-debt-rose-8-2-in-2021-22-to-620-billion/articleshow/94017888.cms">India's external debt rose 8.2% in 2021-22 to $620 billion</a>

You Searched For "TATA Sons" and got 9 results

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India could emerge as the third pole despite GDP growth worries say experts

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Police obtain CCTV footage of Cyrus Mistry's car moments before it crashed

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