Business Roundup #Week34

Image Used For Representation Only

PepsiCo India Eyes Reverse Vending Machines

PepsiCo India is planning to install reverse vending machines to crush PET plastic bottles in all the 36 districts of Maharashtra over the next two years, says a report.

This is part of the food and beverages firm’ plastic waste management initiative, a top executive said. It aims to collect, segregate and recycle 6,500 tonnes of PET bottles in the state in the first year through this initiative.

The company plan to roll out this initiative to all the 36 districts of the state over the next two years, the official said.

Reliance Retail Buys Stake In GSL

Reliance Retail has purchased 16.31 per cent stake in readymade garment wholesaler and retailer Genesis Colors Ltd (GCL) for 34.80 crore rupees, a report says.

Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Mukesh Ambani-led Reliance Industries. The stake buy by the group in GCL is in addition to 49.46 per cent stake already held by Reliance Brands, a subsidiary of RRVL.

This acquisition adds to the existing portfolio of branded fashion retail outlets, RIL said.

TV Production Boost For Key Initiative

Companies such as Xiaomi, TCL, Skyworth, BPL and Thomson, which until recently were importing televisions for sale in the country, have started local production at the component stage, according to a report.

This proves a shot in the arm for the Make in India initiative. Even top brands like Sony and LG are now expanding production of televisions in India at the parts stage — as opposed to just assembling imported modules — after the government changed the duty structure earlier this year to make local manufacturing cheaper by 5-7%.

The shift includes premium OLED and 4K models that cost a few lakh rupees. The companies are now locally assembling the TV panel itself as well as manufacturing printed circuit boards (PCB) and moulds.

Facial Recognition Facility Set In Bengaluru Airport

Bengaluru International Airport plans to roll out facial recognition facility for the passengers of some select airlines from early next year, says a report.

It said boarding process will also become paperless.

The airport operator said the move will also bolster government’s proposed DigiYatra project which seeks to minimise paperwork for air travel under a digital system for airport entry and boarding flights using a passenger’s Aadhaar number and mobile phone.

Daimler Reaches New Milestone

Chennai-based commercial vehicle maker Daimler rolled out the 100,000th vehicle from its Oragadam manufacturing facility, according to a report.

Daimler India Commercial Vehicles (DICV), which is the 100 per cent Indian subsidiary of the Daimler AG, Germany.

They started production from the facility in 2012 and rolled out the first BharatBenz rigid heavy-duty trucks in June that year.

Luxury Brands Eyes Standalone Stores

British luxury label Alexander McQueen and French luxury fashion house Yves Saint Laurent (YSL) are set to enter India through standalone stores next year, says a report.

The first of these stores are likely to come up in DLF’s Chanakya mall in Delhi.

There are plans to launch the two brands in Chanakya by the middle of next year, a source said, adding a letter of intent has been signed between the brands and DLF and the lease deed is awaited.

Ericsson Launches New Products For 5G

Ericsson said that it has launched new hardware and software products under its wireless product portfolio or Radio System portfolio for the Indian market, according to a report.

The addition will allow Indian telcos to roll out 5G networks in a faster manner once they are ready, says the Swedish telecom gear maker.

The reason why 5G is gaining momentum globally and in India is that operators will be able to manage their networks efficiently through a combination of 4G and 5G, a company official said.



Babu Kalyanpur

Babu Kalyanpur, ( Consulting Editor) has rich experience in both sports and business journalism. Babu has led news desks in Pune and Bahrain and writes extensively on his passion, sports and business besides current affairs and matters of importance to Pune.

Latest posts by Babu Kalyanpur (see all)