Biz Updates: Tata’s 60% share in Pegatron, iPhone production to grow in India; purchases from Gem portal up 50%
New Delhi| Tata Electronics Pvt. to increase iPhone production in the country. Li. has acquired a controlling stake of 60 per cent in the Indian unit of Taiwanese company Pegatron. However, the financial details of the transaction have not been disclosed. This acquisition will boost the Make in India initiative of the government. Randhir Thakur, CEO and MD, Tata Electronics, said, we look forward to a new era of AI digital and technology-based manufacturing in India.
Procurement from GeM portal crosses four lakh crore by 50 per cent
Procurement of goods and services through the Government’s GeM portal (Government e-Marketplace) increased by nearly 50 per cent to more than four lakh crore. This has been accelerated by the increase in procurement activities of various ministries and departments. In the 10 months of the current fiscal year, the Gem portal has surpassed last year’s historic high gross trading value (GMV) of Rs 4 lakh crore, the Ministry of Commerce and Industry said. GeM has recorded a GMV of Rs 4.09 lakh crore as of 23 January. In this, the procurement of service sector has been 2.54 lakh crore and that of product sector has been 1.55 lakh crore. According to the statement, the ministries of Coal, Defense, Petroleum and Natural Gas, Power and Steel were the top five buyers on GeM. There are over 1.6 lakh government buyers and over 22.5 lakh seller-service providers on this portal.
Mumbai-Delhi among Asia-Pacific’s most preferred cities for cross-border investment
According to real estate consultant CBRE CBRE, Mumbai ranks fifth and New Delhi eighth among the top 10 most preferred markets in the Asia Pacific region for cross-border investment. CBRE India on Friday released the results of its 2025 Asia-Pacific Investor Intention Survey, which called for an improvement in net buying intent in Asia Pacific markets. More than half of respondents to the survey indicated their preference to buy more real estate in 2025.
Real estate investment at all-time high
“Mumbai and New Delhi are among the top 10 most preferred markets for cross-border investment in the Asia-Pacific region”, the advisor said. Mumbai is ranked fifth after Tokyo, Sydney, Singapore and Ho Chi Minh City, while New Delhi is ranked eighth along with Seoul, Osaka and Hanoi The survey further said that investors in India are interested in asset classes including office, residential, industrial and data centers. Total equity investment in Indian real estate reached an all-time high of USD 11.4 billion in 2024, an increase of 54 per cent year-on-year.
Adani Group termed the reports of project cancellation in Sri Lanka as false
Adani Group has denied reports of the Sri Lankan government canceling their wind energy projects. Adani Group spokesperson said, ‘The reports of cancellation of Adani’s 484 MW wind power projects in Mannar and Poonri are false and misleading. We say clearly that the project has not been cancelled Adani Group said, “The decision of the Sri Lankan Cabinet on 2 January 2025 to re-evaluate the tariffs approved in May 2024 is part of a standard review process”. This innovation is linked to a new government, setting current priorities and energy policy conditions. The group is committed to investing one billion dollars in Sri Lanka’s green energy sector. The project will boost renewable energy and economic growth.”
Labor Minister reviewed the functioning of EPFO field offices for better services
Union Labor Minister Mansukh Mandaviya on Friday directed EPFO officials to further streamline the claim settlement process and ensure timely resolution of complaints. While reviewing the functioning of EPFO field offices through virtual medium, officials were asked to adopt a public friendly approach. The meeting was attended by Union Labor Secretary Sumita Davra, Central Future Commissioner of EPFO Ramesh Krishnamurthy, senior officials from 21 regional and 140 regional offices of the Ministry and EPFO. During this, emphasis was laid on increasing claim settlement efficiency, activating Universal Account Number (UAN) and implementing Pension on Higher Pay (POHW) scheme. The Union Minister also stressed the need to complete the work required to ensure successful implementation of the Employment-Linked Incentive (ELI) Scheme. He said that UANs for new members should be activated quickly. He said that backward areas and regional offices should focus on improving service delivery. The next review meeting of EPFO field offices is scheduled for February 2025.
