Business news India: Latest India business news headlines today 1 July 2022

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Here’s today business news, the latest business news India today 1 July 2022

  • Lenskart will be buying a majority stake in Owndays Inc. from Japan to create one of Asia’s biggest online eyewear retailers. The Japanese eyewear has been valued at $400 million.

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  • In a statement, the RBI has said that India is on the path of economic recovery, although it still needs to be handled carefully due to inflation and geopolitical pressures.
  • The government of West Bengal and the Indian Electrical & Electronics Manufacturers Association have collaborated to set up a dedicated electrical and electronic industrial park in the state.
  • Reliance Brands has partnered with Pret A Manager, global fresh food and organic coffee chain, to foray into food and beverage retail by the launch of the brand in India.

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  • As per the RBI Report, the bad loans of the banks might decline by 5.3% of total advances till March 2023 or it may also increase on a worsening of the macroeconomic environment.
  • HSBC Holdings PLC to re-introduce its private banking businesses in India within a year.
  • ABB has tied up with Think Gas to automate the operations across the network of Think Gas, including remote terminals across various locations.
  • PVR has signed an exclusive agreement with CGR Cinemas for bringing in ICE THEATRES, a high-end screen format, in India.
  • Rishi Negi has been named as the new CEO of Endemol Shine India by Banijay with immediate effect.

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  • Jio Platforms to collaborate with Digiboxx for the development of storage solutions and to meet the cloud consolidation needs of the existing customer base of the Jio network.
  • Sunil Sood has joined Indus Towers as the Additional Director in the capacity of non-executive and non-independent.
  • India’s No. 1 city-centric music company, Mirchi, has launched its own mobile app “Mirchi Plus” to offer an exhaustive library of podcasts, stories, entertainment news, videos, etc.
  • Swiggy has begun its ESOP Liquidity Program aggregating $23 million to bring in more opportunities for wealth creation for employees.

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