US-based pharmaceutical giant Eli Lilly is set to invest more than $1 billion in India in the coming years to boost its manufacturing and supply capacity by partnering with local drugmakers. The move is a strategic bid to tap into India’s skilled workforce and strengthen the expansion of Lilly’s global manufacturing network. Reuters reported that…
Fifth Third Bancorp plans to acquire Comerica in a $10.9 billion all-stock deal, resulting in one of the largest banks in the US by assets. The deal will establish the 9th largest bank in the US, with around $288 billion in assets. The bank says that the acquisition is expected to benefit shareholders immediately, contributing…
Mumbai: Less than a month after Ozempic maker Novo Nordisk announced it is cutting its global workforce as part of a restructuring plan, the layoffs have hit Indian employees in Bengaluru. Junior- to mid-level employees across functions such as sales and marketing, as well as those in the company’s global business services (GBS) hub, which…
However, the tough act starts now to make India globally competitive in electronics component manufacturing, an area where it has limited expertise and lacks the global-scale factories to rival those of countries such as China, Vietnam, Malaysia, and Taiwan. Mint examines whether this scheme can be a game-changer. What is the scheme? India relies heavily…
Is your sunscreen the right one for your tropical skin tone? India’s first-ever standardized testing protocol for sunscreens adds a new measurement layer for a more accurate categorisation of India’s diverse skin tones. For years, India’s $523-million sunscreen market has operated without a uniform testing framework, allowing manufacturers to use different methods to determine the…
The Reserve Bank of India, as part of its Statement on Developmental and Regulatory Policies released alongside the monetary policy statement on October 1 proposed allowing banks to fund corporate buyouts. At a broader level, the RBI’s proposal is “very proactive and progressive” and is expected to go a long way in reducing the cost…
Given that spectrum is a limited resource, the government sells it to telecom companies through auctions making for a healthy source of revenues for the exchequer. Lately, there’s a problem: telecom operators are showing up to bid but most of the spectrum is being sold at the reserve price. That’s like holding an auction but…
Companies like Skoda-Volkswagen, Honda Cars, Renault and Nissan are among mass market brands that have committed to introduce more than a dozen new products cumulatively in the next two years. Cumulatively, these four brands have only 5% share of the passenger vehicle market in India as of August 2025. Passenger vehicles include cars, utility vehicles…
The Union government plans to lower the minimum number of farmers required per project so more companies can qualify for subsidies or incentives under the government’s Public-Private Partnership for Integrated Agricultural Value Chain Development (PPPAVCD) scheme, two officials said. A lower entry barrier will encourage more startups, agritech companies, farmer producer organisations (FPOs), and small…
Bank holiday today: Banks in Agartala and Kolkata will remain shut today, on October 6 (Monday), for Laxmi Puja. Notably, banks in India will be shut on multiple dates this week, due to regional celebrations and RBI mandated holidays. Banks across India, including the State Bank of India (SBI), remain closed during holidays mandated by…