Latest news with #Made-in-India
NDTV
3 days ago
- Politics
- NDTV
In Pics: Rajnath Singh Aboard INS Vikrant, Meets Navy Personnel
Defence Minister Rajnath Singh Friday boarded the Indian Navy's indigenous aircraft carrier, INS Vikrant, where he addressed the officers and crew, praising their dedication and strength. During the interaction with naval personnel on board the INS Vikrant off Goa, he sent a stern warning to Pakistan saying India will not hesitate to use the methods to deal with terrorism that Pakistan cannot even think of. Rajnath Singh reviewed operational readiness and praised the Navy's role in neutralising threats during the Operation Sindoor. He also underlined the Navy's vigilance and dominance in the Indo-Pacific region. INS Vikrant, which joined the Indian Navy in 2022, is a major representation of India's goal of building a self-reliant defence sector. The ship's deployment is seen as a crucial step toward reinforcing India's naval capabilities in the Indo-Pacific region. The Made-in-India aircraft carrier is slated to get a boost to its lethality with the inclusion of Rafale Marine (M) fighter jets. The fighter jets will complement the current fleet of MiG 29K. Rajnath Singh's visit comes at a time when India continues to assert its role as a key maritime power amid growing strategic interests in the Indian Ocean.
Fashion Network
3 days ago
- Business
- Fashion Network
Myntra obtains Rs 1,062.5 crore from parent entity amid global expansion
Online fashion retailer Myntra has secured Rs 1,062.5 crore in fresh funding from its Singapore-based parent company, FK Myntra Holdings. The capital infusion follows earlier investments of $339 million in March 2024 and $81 million in November 2024, as the platform accelerates growth. The development coincides with Myntra's international expansion through the launch of Myntra Global, a new platform designed to serve the Indian diaspora in Singapore, Apparel Resources India reported. The service offers a curated selection of fashion and Made-in-India products, marking the brand's first foray into global e-commerce. To support cross-border operations, Myntra is leveraging third-party international logistics providers to ship inventory from India to Singapore, with average delivery times ranging from four to seven expansion comes amid heightened competition in India's online apparel market, including the re-entry of Chinese fast fashion platform Shein. Despite an increasingly competitive market, Myntra posted a turnaround in the 2024 fiscal year, recording a net profit of Rs 31 crore, compared to a net loss of Rs 782 crore the previous year. Operating revenue rose by 15% year-on-year to Rs 5,122 crore, reflecting growing demand and improved operational efficiency.
Time of India
5 days ago
- Business
- Time of India
Myntra secures Rs 1,063 crore funding from Singapore-based parent entity
Online fashion retailer Myntra has received fresh funding of Rs 1,062.5 crore ($124 million) from its Singapore-based parent entity FK Myntra Holdings at a time when the company has expanded its services to Singapore. According to regulatory filings accessed from the Registrar of Companies (RoC), 19,43,753 equity shares of of Myntra Designs Private Limited have been allotted to FK Myntra Holdings Private Limited at an issue price of Rs 5,465.23 each on a rights basis to raise the total amount. The development was first reported by Entrackr. In previous rounds, parent firm Flipkart had injected $81 million into the online fashion retailer in November 2024 and $339 million in March 2024. On May 19, Myntra launched its new platform, Myntra Global , offering Made-in-India brands and fashion to cater to the Indian diaspora in Singapore. Its partner brands will ship products to Singapore from inventory held in India and Myntra will help them through third-party international logistics providers. The shipping timeline is expected to be between 4-7 days, on average. Meanwhile, Myntra is facing increasing competition in the online apparel retail space in India after Chinese fast fashion platform Shein returned five years after being banned. Notably, Myntra turned profitable in fiscal year 2024. It reported a net profit of Rs 31 crore for fiscal year 2024 against a net loss of Rs 782 crore in the previous year. Operating revenue also grew 15% to Rs 5,122 crore in FY24. Rapid delivery push The Bengaluru-based company has also entered the rapid delivery race with M-Now as quick commerce is gaining popularity in the country. Besides apparel, Myntra is pushing categories such as accessories, home furnishings, and makeup on both its regular ecommerce segment as well as M-Now. With the rapid delivery wave spreading across segments, even quick commerce companies Zepto, Swiggy Instamart and Blinkit have been adding more stock keeping units to their apparel section with a promise to deliver in minutes. The latest to join the race is omnichannel fast fashion brand Newme. On Tuesday, Newme launched its 60-minute delivery service, Newme Zip, in Bengaluru after the rapid delivery service's success in Delhi.
Time of India
5 days ago
- Business
- Time of India
Myntra secures Rs 1,063 crore funding from Singapore-based parent entity
Online fashion retailer Myntra has received fresh funding of Rs 1,062.5 crore ($124 million) from its Singapore-based parent entity FK Myntra Holdings at a time when the company has expanded its services to Singapore. According to regulatory filings accessed from the Registrar of Companies (RoC), 19,43,753 equity shares of of Myntra Designs Private Limited have been allotted to FK Myntra Holdings Private Limited at an issue price of Rs 5,465.23 each on a rights basis to raise the total amount. The development was first reported by Entrackr. In previous rounds, parent firm Flipkart had injected $81 million into the online fashion retailer in November 2024 and $339 million in March 2024. On May 19, Myntra launched its new platform, Myntra Global , offering Made-in-India brands and fashion to cater to the Indian diaspora in Singapore. Its partner brands will ship products to Singapore from inventory held in India and Myntra will help them through third-party international logistics providers. The shipping timeline is expected to be between 4-7 days, on average. Meanwhile, Myntra is facing increasing competition in the online apparel retail space in India after Chinese fast fashion platform Shein returned five years after being banned. Live Events Notably, Myntra turned profitable in fiscal year 2024 . It reported a net profit of Rs 31 crore for fiscal year 2024 against a net loss of Rs 782 crore in the previous year. Operating revenue also grew 15% to Rs 5,122 crore in FY24. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Rapid delivery push The Bengaluru-based company has also entered the rapid delivery race with M-Now as quick commerce is gaining popularity in the country. Besides apparel, Myntra is pushing categories such as accessories, home furnishings, and makeup on both its regular ecommerce segment as well as M-Now . With the rapid delivery wave spreading across segments, even quick commerce companies Zepto, Swiggy Instamart and Blinkit have been adding more stock keeping units to their apparel section with a promise to deliver in minutes. The latest to join the race is omnichannel fast fashion brand Newme. On Tuesday, Newme launched its 60-minute delivery service , Newme Zip, in Bengaluru after the rapid delivery service's success in Delhi.
Time of India
26-05-2025
- Automotive
- Time of India
Japan makes it to top five markets for India-made cars
Japan emerged one of the top five export destinations for Made-in-India cars for the first time in the last fiscal year, underscoring steadily growing global acceptance of cars built in the country, including developed markets. Key Indian exporters include the local units of Suzuki Motor Corp and Honda Motor Co , seeking to increasingly leverage the country as a production hub. Vehicle shipments to Japan rose to $616.45 million in the first nine months of FY25, from $220.62 million in FY24, showed commerce ministry data, collated by SIAM. Globally Competitive Models The Indian government is yet to release detailed data for vehicle exports and imports for the March quarter. However, industry insiders expect the trend to accelerate given that Maruti Suzuki began exporting the Jimny SUV to Japan this January. 'Over decades, we have built a base in quality, cost, efficiency and technology in car manufacturing. This has given us volumes and economies of scale,' said Rahul Bharti, senior executive officer at Maruti Suzuki India, adding that going ahead, the company would also export a 'large number' of e Vitara electric SUVs , manufactured in India, to the developed markets of Europe and Japan. Japan is itself a major carmaker and top exporter, shipping out 5.12 million vehicles in 2024. While Honda Cars India exported 45,167 units of SUV Elevate — mostly to Japan — more than double of the 22,321 units it sold in the local market, Maruti Suzuki has on sale SUVs Fronx and Jimny in the country. Notably, parent Suzuki had to initially pause fresh bookings for the Jimny five-door due to higher-than-expected demand post launch. The car secured around 50,000 orders within four days of launch in Japan. 'Indian OEMs have been not only expanding into key markets such as Africa and Latin America but are also beginning to enter developed markets (like Japan) with globally competitive models,' said Shailesh Chandra, president, Society of Indian Automobile Manufacturers. Kunal Behl, vice president, Honda Cars India said the company aims to establish India as a 'key export hub in its business globally'. While the proportion of exports is likely to remain at about 30%, absolute volumes will rise over the next few years as the company's total volumes grow on the back of new model introductions in India. In the two-wheeler segment, Yamaha is planning to shortly commence exports of premium motorcycles to Japan. Itaru Otani, chairman, Yamaha Motor India Group, said, 'The sourcing cost, the labour cost, is quite low in India compared to other countries.' 'We are exporting nearly a third of our output to 58 countries already. We started exports to Europe from India at the end of last year. The next step is to ship to other advanced markets like Japan and the US,' said Otani. Overall, India's car exports grew by 15per cent to 770,364 vehicles last fiscal, widely outperforming a 2per cent rise in domestic sales at 4.3 million vehicles. While more than 27per cent of vehicles exported are compact passenger cars — measuring up to 4 metres in length and up to 1.4-litres — the share of compact SUVs — also up to 4 metres in length — are on the rise. Compact SUVs fare well Chandra said exports of compact SUVs are performing well, currently comprising more than a quarter of total exports. 'There is also a steady demand of mid-sized passenger cars having engines up to 1.6-litre, constituting about 20per cent of the share of PV exports,' he said, adding exports of utility vehicles — of 4-4.4 metre length — have also risen significantly with a more than 18per cent share of overall exports, 'As an industry, we would closely monitor global geopolitics and would leverage any opportunities that exist in enhancing exports,' Chandra said. On their part, passenger vehicle makers have set an ambitious aim of doubling car exports to 30per cent over the next five years.
