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The extra US tariffs on its imports from China in the ongoing trade war have opened a window of opportunity for India to push for higher exports in 171 items — ranging from textiles to marine products — with additional outbound shipment potential of up to $8.7 billion a year, according to a latest commerce ministry study. The Trump administration has announced extra levy of up to 25% on $250-billion Chinese supplies in two phases, which will make scores of Indian products more competitive than China’s in the US market. However, the greater export opportunity can be exploited by India’s competitors as well, including Vietnam and even Bangladesh. The commerce ministry has already conducted a similar study to assess potential for higher exports to China following the trade tussles between the top two economies. Of the American goods on which Beijing has imposed extra duties in the range of 15-25%, India can ship out more in case of 44 items without much difficulty, as it currently has access to the Chinese market in these products.
Sekura Energy Ltd, backed by Edelweiss Infrastructure Yield Plus (EIYP) fund, will acquire two operating power transmission assets from Essel Infraprojects Ltd- namely Darbhanga-Motihari Transmission Limited and NRSS XXXI (B) Transmission Limited. Sekura is also set to acquire Warora-Kurnool Transmission Limited and NRSS XXXVI Transmission Limited, which are expected to be commissioned in FY20. The stake in the two under construction assets would be acquired post commissioning.
IIFL Wealth Management Limited has acquired Wealth Advisors India, a Chennai based wealth management firm for a total consideration of Rs.235 crore. Wealth Advisors, will become a wholly owned subsidiary of IIFLW and its employees will become part of IIFL Wealth, entitled to agreed employment benefits.
Early-stage investment firm India Quotient is selling a part of its stake in vernacular social network Sharechat in a transaction pegged at around Rs.50 crore, giving it 25-30 times returns on its initial investment. Around 1-2% stake has been picked up by China’s Hillhouse Capital. India Quotient continues to hold around 5% stake in Sharechat, which is worth over Rs.165 crore right now.
Foodpanda, an Ola-owned online food delivery company, will acquire Mumbai-based food-tech platform Holachef. Through this collaboration, Foodpanda marks its strategic entry into cloud kitchens and plans to launch its own brand of food products in different categories.
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