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Time of India
24-05-2025
- Business
- Time of India
Assam CM Himanta Biswa Sarma urges industrialists to deliver on Advantage Assam 2.0 promises
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Guwahati: Assam Chief Minister Himanta Biswa Sarma met top industrialists in New Delhi and asked them to fulfill their commitments made during Advantage Assam 2.0 Investment and Infrastructure Summit in Chief Minister met the Chairman of Vedanta Group , Anil Agarwal at his official residence here on Friday evening and asked him to operationalise the group's investment commitment made during Advantage Assam Summit held in February this of Vedanta, Agarwal said the group is wholly committed to Assam's growth journey and is keen to expand its footprint in the State's hydrocarbon taking to X (formerly Twitter), the Chief Minister wrote, "Today in New Delhi, I met the very enterprising Chairman of @Vedanta_Group, Shri @AnilAgarwal_Ved Ji. We spoke on operationalising the group's investment commitment made during #AdvantageAssam2. Vedanta is keen to expand its footprint in the state's hydrocarbon sector."Later, the Chief Minister met Managing Director of ITC Hotels , Anil Chadha at his official residence here and discussed the potential of investment in the hospitality told the Chief Minister that his group is very keen in exploring opportunities in the hospitality sector in about the development, CMO Assam, tweeted, "Anil Chadha, MD, @ITCHotels called upon HCM Dr. @himantabiswa in New Delhi today. They discussed the potential of investments in Assam's hospitality sector as Shri Chadha expressed keen interest in exploring opportunities for expansion in the state."The Advantage Assam 2.0 has secured investment commitments worth Rs 5.18 lakh crore over the next five years, It may be mentioned that Chief Minister Sarma, who is closely monitoring the investment commitments made by different companies during the Advantage Assam 2.0, will hold one-to-one meeting with the industry honchos in the national capital on May 26."The Chief Minister has started individual discussions with the companies about how to go about realising the investment on the ground, what kind of incentives they might need, land they would need. We will prepare the preparatory roadmap over the next six months,' a senior official privy to the development said."If even a significant portion of the pledged investments materialises, Assam could emerge as a leading industrial hub in the Northeast and beyond. Therefore, the focus now shifts to implementation and execution, ensuring that these investments translate into job creation, infrastructure development, and long-term economic benefits for the state," the official achieve this goal, the Government of Assam plans to carefully analyse investment proposals in the current financial year and work toward a comprehensive roadmap within the next six months. "The roadmap will focus on addressing key challenges such as land allocation, ease of doing business, and incentive structures to ensure that projects move from paper to reality," the official quipped.
India Gazette
24-05-2025
- Business
- India Gazette
Assam CM meets industry leaders in New Delhi, urged to fulfill Advantage Assam 2.0 commitments
New Delhi [India], May 24 (ANI): Assam Chief Minister Dr Himanta Biswa Sarma on Saturday met top industrialists on the sidelines of ongoing Rising North East Summit 2025 in New Delhi and asked them to fulfill their commitments made during Advantage Assam 2.0 Investment and Infrastructure Summit in Guwahati, a release added. The Chief Minister met the Chairman of Vedanta Group, Anil Agarwal at his official residence here on Friday evening and asked him to operationalise the group's investment commitment made during Advantage Assam Summit held in February this year, the release by the state added. As per the release, Chairman of Vedanta, Agarwal said the group is wholly committed to Assam's growth journey and is keen to expand its footprint in the State's hydrocarbon sector. Later, taking to X (formerly Twitter), the Chief Minister Dr Himanta Biswa Sarma wrote, 'Today in New Delhi, I met the very enterprising Chairman of @Vedanta_Group, @AnilAgarwal_Ved Ji. We spoke on operationalising the group's investment commitment made during #AdvantageAssam2. Vedanta is keen to expand its footprint in the state's hydrocarbon sector.' The Chief Minister met Managing Director of ITC Hotels, Anil Chadha at his residence and discussed the potential of investment in the hospitality sector. Chadha told the Chief Minister Sarma that his group is very keen in exploring opportunities in the hospitality sector in Assam. Informing about the development, CMO Assam, tweeted, 'Anil Chadha, MD, @ITCHotels called upon HCM Dr @himantabiswa in New Delhi today. They discussed the potential of investments in Assam's hospitality sector as Chadha expressed keen interest in exploring opportunities for expansion in the state.' Assam's investor summit, Advantage Assam 2.0 secured investment commitments worth Rs 5.18 lakh crore over the next five years. The release added that CM Sarma is closely monitoring the investment commitments made by different companies during the Advantage Assam 2.0. He will hold one-to-one meeting with the industry leaders in the national capital on May 26. 'The Chief Minister has started individual discussions with the companies about how to go about realising the investment on the ground, what kind of incentives they might need, land they would need. We will prepare the preparatory roadmap over the next six months,' a senior official privy to the development said. 'If even a significant portion of the pledged investments materialises, Assam could emerge as a leading industrial hub in the Northeast and beyond. Therefore, the focus now shifts to implementation and execution, ensuring that these investments translate into job creation, infrastructure development, and long-term economic benefits for the state,' the official added. 'The roadmap will focus on addressing key challenges such as land allocation, ease of doing business, and incentive structures to ensure that projects move from paper to reality,' the official added. To achieve the goal, the Government of Assam plans to carefully analyse investment proposals in the current financial year and work toward a comprehensive roadmap within the next six months, the release added. (ANI)
Time of India
15-05-2025
- Business
- Time of India
ITC Hotels sees record financial results in first quarter post demerger from ITC
ITC Hotels MD Anil Chadha NEW DELHI: Hospitals major ITC Hotels has reported its highest ever revenue and profit in the Jan-March, 2025, quarter — its first since demerger from the parent ITC Group. ITC Hotels had a revenue of Rs 1,017 crore, up 17% from age period last year, and a profit of Rs 264 crore, up 44% from same period last year. In FY 2025, its revenue was Rs 3,333 crore and profit of Rs 698 crore. ITC Hotels share close at Rs 201.1, down 0.3% on BSE Thursday, when the broader market was up 1.48%. In a statement, it said: 'Room revenues sustained strong growth trajectory driven by broad based performance across segments including retail, contracted, weddings and crew. The average daily rate was about Rs 12,500 and occupancy at 73%. Food & beverages revenue recorded strong growth. (There was) stellar performance in banqueting and event catering, especially in wedding and institutional segments.' In the last 24 months, it has signed 54 properties and opened 30 hotels across brands. 'In line with the company's 'asset-right' strategy, a substantial part of the recent room additions have accrued through management and franchising contracts. The strategy envisages driving growth while reducing capital intensity of operations by focusing on strong partnerships with asset owners, leveraging brand credentials and providing operational expertise. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo The company's presence has expanded to Tier 2 and 3 cities, where demand for premium hospitality is rapidly increasing. Business continues to witness growing interest amongst property owners to partner with its brands resulting in healthy generation of leads and pipeline of management contracts. The company has a pipeline of 50 hotels with over 4,500 keys with high salience of brownfield assets and targets a portfolio of 220 operational hotels with over 20,000 keys by 2030,' it aded. The hotels business of ITC Ltd. was demerged into ITC Hotels Ltd. with effect from Jan 1, 2025. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
13-05-2025
- Business
- Time of India
ITC Hotels inks agreement for new property in Siliguri, West Bengal
In a strategic move to expand its luxury footprint in Eastern India, ITC Hotels on Tuesday announced that it has signed a management agreement for a new property under its premium brand Mementos by ITC Hotels in Siliguri, West Bengal. The upcoming property, being developed by the LR Berlia Group, will be situated near Bagdogra Airport in north Bengal. The hotel is set to feature 180 rooms and a range of upscale amenities aimed at both leisure and business travellers. This marks the debut of the Mementos brand in Eastern India, reflecting ITC Hotels' continued emphasis on tapping into high-growth domestic tourism markets. With the addition of this hotel, ITC Hotels now has six operational properties in West Bengal, with another six in various stages of development. Once fully completed, the company's portfolio in the state will include 12 properties offering a total of over 1,540 keys across its various brands. 'The signing marks Mementos by ITC Hotels' foray into Eastern India,' said Anil Chadha, Managing Director of ITC Hotels. 'Domestic tourism has been on the rise, with travellers increasingly seeking unique, immersive stay experiences. This project is expected to become a defining hospitality destination for the region, especially in the wedding segment, which continues to show robust demand.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo The Mementos brand is ITC Hotels' signature luxury collection, focused on offering curated experiences in distinct and scenic destinations. With its strategic location near Siliguri — a key gateway to the Northeast and the Eastern Himalayas — the new hotel is expected to cater to a diverse clientele, including tourists, corporate travellers, and event planners. The company added that the new development aligns with its long-term vision to strengthen its presence in high-potential regional markets and contribute to local economic and tourism growth. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
