Here are the India Business News Headlines as on 8th June 2017:
- As per PwC’s 2017 Global E&M Outlook Report, global entertainment and media industry will increase at about 4.2 per cent annual growth between 2016 and 2021. Indian industry is expected to grow at 10.6 per cent to exceed Rs 291,000 crore by 2021. Internet advertising will emerge as the fastest growing advertising platform.
- Two partner companies of US-based private equity investor Blackstone, Embassy group of Bengaluru and Pune-based Panchshil Realty have raised funds worth Rs 1,450 crore in separate deals.
- Samsung will invest another Rs.4915 Crore to expand its Noida unit. The investment is expected to create 5,000 direct and 15,000 indirect jobs.
- Infosys has dumped its ambitious long-term revenue target, had search firm Egon Zehnder evaluate each of the 10 members of the company’s board and set up a three-member panel to “support and advise” chief executive officer Vishal Sikka in executing strategy. All three developments are part of steps taken by the board to address criticism from several quarters including N.R. Narayana Murthy.
- IDG Ventures has partnered with Unilever Ventures and Amazon Web Services to launch an initiative to invest between $500,000 to $5 million in early-stage tech start-ups of India. Focus of investment would be in consumer technology, software, health-tech and fintech.
- Jobs in e-commerce : Campus hiring has been top priority for Amazon India. In 2016-17 amazon has hired 35% more candidates from engineering colleges and 20% more from business schools, compared to the previous year.
- Logistics arm of Amazon India has received funding of Rs.207 Crore from Amazon Singapore & Malaysia. Funds will be used to scale up warehousing operations.