Ashwin Sheth Group acquires 50% stake in One Marina project in Mumbai
Ashwin Sheth Group
has acquired a 50% stake in
One Marina
, a residential project situated on
Marine Drive
,
Mumbai
.
PAG
, Singapore, an alternative investment firm, has committed over ₹540 crore (USD 65 million) to fund the construction and development of the project.
The company has acquired the project from Vallabh Sheth and Jitendra Sheth, who previously held this share alongside the landowner, YM Infra.
Part of the funds raised were used to facilitate the exit of J.C. Flower ARC, whose loan from Yes Bank was settled by Ashwin Sheth Group to clear the way for the new partnership.
The project has a gross development value (GDV) of ₹2,300 crore. Of the total one million sq ft in the project, Ashwin Sheth Group holds a seleable area of four lakh sq ft.
In June 2024, the company had informed exclusively to ETRealty, that there are three projects where they are working with NBFCs and developers having stressed assets and two projects which are under NCLT where they have submitted the bids. All five projects are situated in South Mumbai and are luxury and super-luxury projects.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
4 minutes ago
- Economic Times
China's easing of export curbs useful, but self-reliance India's only shield amid trade deficit: GTRI
Synopsis China is easing export restrictions to India. This includes fertilizers and rare earths. However, a report suggests India's trade deficit with China is a concern. It reached USD 100 billion. The report advises India to focus on self-reliance. This involves boosting domestic manufacturing. It also involves reducing import dependence. This will help India engage with China on equal terms. ANI China's easing of export curbs useful, but self-reliance India's only shield amid trade deficit: GTRI China's recent move to ease export restrictions on fertilizers, rare earths, and tunnel-boring machines to India is a welcome step, but self-reliance remains the only real safeguard for New Delhi against its widening trade deficit with Beijing, the Global Trade Research Initiative (GTRI) said in a GTRI report highlighted that India cannot ignore its deep economic dependence on Chinese development follows Beijing's earlier curbs on critical minerals such as gallium, germanium, and graphite that disrupted India's electronics and electric vehicle sectors. In June 2025, Chinese battery giant CATL even withdrew engineers from Foxconn's Chennai plant, halting the recent relaxation, the economic imbalance remains stark. India's trade deficit with China has touched a record USD 100 billion in FY2025, while Beijing has openly supported Pakistan in the recent war. Such dependence, the GTRI cautioned, gives China significant leverage during crises.A trade deficit occurs when a country buys more goods and services from other countries than it sells to them. GTRI also noted that the problem is structural. China currently supplies over 70 per cent of India's requirements in several key products are no exception, with laptops (80.5 per cent) and flat panel displays (86 per cent) dominated by Chinese to the concern, India's share in bilateral trade has collapsed to just 11.2 per cent from 42.3 per cent two decades ago. This sharp decline highlights the fragility of India's supply chains and growing reliance on Chinese address this imbalance, the GTRI suggested that India move on multiple fronts. It recommended a reverse-engineering programme using IITs and CSIR labs to deconstruct imported goods and create open-access blueprints. These efforts could be tracked through a proposed "Localize-100" system to focus on the most critical report stressed that while China's easing of curbs is a useful signal, it cannot mask the underlying imbalance in the relationship. For India, the only real shield lies in strengthening domestic manufacturing, cutting dependence on imports, and building resilient supply chains."A stronger, more self-reliant India will be better placed to engage China on equal terms, while keeping relations steady and pragmatic rather than hostage to sudden shifts," the report conclusion, GTRI noted that China's gesture is only a tactical move. India's true safeguard lies in reducing dependence, investing in deep manufacturing, and becoming a product nation capable of withstanding external pressures.
Time of India
28 minutes ago
- Time of India
China's easing of export curbs useful, but self-reliance India's only shield amid trade deficit: GTRI
China 's recent move to ease export restrictions on fertilizers, rare earths, and tunnel-boring machines to India is a welcome step, but self-reliance remains the only real safeguard for New Delhi against its widening trade deficit with Beijing, the Global Trade Research Initiative ( GTRI ) said in a report. The GTRI report highlighted that India cannot ignore its deep economic dependence on Chinese imports. This development follows Beijing's earlier curbs on critical minerals such as gallium, germanium, and graphite that disrupted India's electronics and electric vehicle sectors. In June 2025, Chinese battery giant CATL even withdrew engineers from Foxconn's Chennai plant, halting operations. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo Despite the recent relaxation, the economic imbalance remains stark. India's trade deficit with China has touched a record USD 100 billion in FY2025, while Beijing has openly supported Pakistan in the recent war. Such dependence, the GTRI cautioned, gives China significant leverage during crises. A trade deficit occurs when a country buys more goods and services from other countries than it sells to them. Live Events GTRI also noted that the problem is structural. China currently supplies over 70 per cent of India's requirements in several key areas. Everyday products are no exception, with laptops (80.5 per cent) and flat panel displays (86 per cent) dominated by Chinese imports. Adding to the concern, India's share in bilateral trade has collapsed to just 11.2 per cent from 42.3 per cent two decades ago. This sharp decline highlights the fragility of India's supply chains and growing reliance on Chinese inputs. To address this imbalance, the GTRI suggested that India move on multiple fronts. It recommended a reverse-engineering programme using IITs and CSIR labs to deconstruct imported goods and create open-access blueprints. These efforts could be tracked through a proposed "Localize-100" system to focus on the most critical imports. The report stressed that while China's easing of curbs is a useful signal, it cannot mask the underlying imbalance in the relationship. For India, the only real shield lies in strengthening domestic manufacturing, cutting dependence on imports, and building resilient supply chains. "A stronger, more self-reliant India will be better placed to engage China on equal terms, while keeping relations steady and pragmatic rather than hostage to sudden shifts," the report said. In conclusion, GTRI noted that China's gesture is only a tactical move. India's true safeguard lies in reducing dependence, investing in deep manufacturing, and becoming a product nation capable of withstanding external pressures.
&w=3840&q=100)
Business Standard
34 minutes ago
- Business Standard
Export curbs ease positive, India must cut reliance amid $100 bn gap: GTRI
China's decision to ease restrictions on exports of rare-earth minerals and fertilisers to India is a positive signal, but India must work to reduce its dependence on the neighbouring country, with which it runs an alarming $100 billion trade deficit, economic think tank GTRI said on Wednesday. It said that between 2014 and 2024, China's dominance over India's import landscape only widened. Its share in India's telecom and electronics imports reached 57.2 per cent, while machinery and hardware accounted for 44 per cent. Chemicals and pharmaceuticals followed closely at 28.3 per cent, it said. For India, the Global Trade Research Initiative (GTRI) said, the only real safeguard is to build strength at home by cutting dependence, investing in deep manufacturing, and becoming a true product nation. "A stronger, more self-reliant India will be better placed to engage China on equal terms, while keeping relations steady and pragmatic rather than hostage to sudden shifts," GTRI Founder Ajay Srivastava said. India's trade deficit with China, which hit a record $100 billion in FY2025, is not just alarming in scale but also in structure, it said. "What makes it more serious is that China now dominates India's import baskets across virtually every industrial category -- from pharmaceuticals and electronics to construction materials, renewable energy, and consumer goods," it added. Citing examples, the think tank said in antibiotics like erythromycin, China supplies 97.7 per cent of India's needs; in electronics, it controls 96.8 per cent of silicon wafers and 86 per cent of flat panel displays; in renewable energy, 82.7 per cent of solar cells and 75.2 per cent of lithium-ion batteries come from China. Everyday products such as laptops (80.5 per cent share), embroidery machinery (91.4 per cent), and viscose yarn (98.9 per cent) are sourced from China. Srivastava said this overwhelming dominance gives Beijing potential leverage against India, turning supply chains into a tool of pressure in times of political tension. "The imbalance is deepening as India's exports to China continue to decline, reducing India's share in bilateral trade to just 11.2 per cent today from 42.3 per cent two decades ago. Such structural dependence exposes India to serious geopolitical risks and highlights the urgent need for domestic production capacity and resilient supply chains," he added. According to the GTRI, China now dominates Indian import baskets across virtually every industrial category -- from pharmaceuticals and electronics to construction materials and consumer goods. In the pharmaceutical sector, India imported USD 166.3 million worth of erythromycin from China, accounting for 97.7 per cent of its global imports of that antibiotic, it said, adding China supplied 88.1 per cent of India's total antibiotic imports, forming the backbone of India's pharmaceutical ingredient supply. In electronics and semiconductors, India imported USD 151.6 million worth of silicon wafers from China (96.8 per cent share), and USD 1.06 billion in flat panel display modules (86 per cent). Similarly, it said, computer monitors (USD 376.5 million) also saw a 66.8 per cent Chinese share. Imports of printed circuit boards (USD 612.2 million), memory chips (USD 1.75 billion), and microprocessors (USD 1.65 billion) were also heavily reliant on China, with shares between 37 per cent and 40.5 per cent. In consumer electronics, laptops and tablets topped the list with USD 4.45 billion in imports, 80.5 per cent of which came from China. "Smartphones accounted for USD 259.7 million (58.8 per cent), while smartphone components and parts stood at USD 763.8 million (55.4 per cent) and USD 7.15 billion (51.7 per cent) respectively," it said, adding imports from China in low-tech consumer goods -- ceramic tiles, plastic furniture, lighting products, even headgear -- rose over 150 per cent in the same period. These goods not only undermine Indian MSMEs but also reflect a widespread erosion of domestic industrial depth, Srivastava said. "The data signals a clear imbalance. India is structurally dependent on China, while gaining little market access in return. Without urgent policy intervention, this economic asymmetry will only worsen," he added. To reduce India's trade deficit with China from $100 billion to $50 billion within five years, he suggested steps such as reverse engineering for rapid substitution and building deep-tech manufacturing. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
