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Time of India
27-05-2025
- Business
- Time of India
Swedish Investments To Catapult Vidarbha On Defence, Industry Map
1 2 3 Nagpur: Vidarbha is on the cusp of an industrial transformation with Swedish defence and aerospace companies, heavy industry and tetra-packaging firms expressing interest in setting up manufacturing units in the region. Consul General of Sweden, Sven Ostberg, and his trade and investment team's visit to Nagpur on Tuesday signalled a cutting-edge business push that could establish Vidarbha as a burgeoning defence and industrial hub, capitalizing on its strategic central location in India. Also, there's a move to leverage Swedish expertise to restore the city's Nag river through advanced technology. This could be on the agenda of Ostberg's crucial meeting with the municipal commissioner, Abhijeet Chaudhuri, on Wednesday. Leading Swedish defence and aerospace company Saab AB, known for its advanced military systems, is likely to make a foray into the Nagpur region. Talking exclusively to TOI, Sven Ostberg said, "Saab AB operates a manufacturing plant in Jhajjar, Haryana, and the company is likely to expand its operations in Vidarbha, considering its business potential and geographical advantage." Saab AB's potential entry into the region could catapult Nagpur on to India's defence manufacturing map. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Her body cannot endure this level of pain; please help her. Donate For Health Learn More Undo Alfa Laval, a global leader in heavy industry solutions, is also considering Vidarbha as its next manufacturing unit, building on its existing facility in Pimpri Chinchwad near Pune. The company's expertise in heat transfer, separation, and fluid handling could drive industrial growth in the region, complementing the defence focus with heavy industry development, said a member of the investment team. The Association for Industrial Development (AID) made a compelling case for Swedish investments during a high-profile session with Ostberg on Tuesday at CP Club, attended by Saloni Zaveri, senior advisor, trade and investment promotion with Consulate General of Sweden, IVL country manager, business development and marketing, Rupali Deshmukh, industry leader Ajay Sancheti, correspondent diplomat of Malta, Afzal Mitha, serial entrepreneur Shashikant Chaudhary, IIM director Bhimaraya Metri and Neeri director S Venkata Mohan among others. AID president Ashish Kale emphasized the region's potential to support Swedish investments and Vidarbha's strengths, including its emerging industrial hub of Mihan, to foster bilateral trade, export-import collaborations, and technology exchanges with Sweden. Additionally, IVL, a Swedish Environmental Research Institute, is conducting a pre-feasibility study for a Sweden-India Centre of Excellence (CoE) for Sustainable City/Society in Nagpur. IVL's Rupali Deshmukh noted that CoE could leverage Swedish expertise in water, waste, and energy management, potentially aiding projects like the Nag River restoration through advanced technologies and sustainable practices. "By leveraging Swedish expertise, innovative technologies, and close collaboration with our Indian counterparts, we aim to co-create scalable solutions in water, waste, and energy management that can serve as a model for cities across India. Nagpur's proactive approach and openness to partnership make it an ideal collaborator in this transformative journey," Deshmukh said. She added that the proposed Sweden-India Centre of Excellence has potential to support Nag River restoration by bringing advanced Swedish technology and best practices in wastewater treatment, pollution control, and ecological river restoration. "It will facilitate pilot projects, capacity building, and real-time monitoring while promoting collaboration between Indian authorities and Swedish experts. The CoE will also support integrated river basin management and help develop sustainable solutions aligned with India's river rejuvenation goals," she said.
Reuters
14-02-2025
- Business
- Reuters
Delivery Hero serves 4th quarter growth above estimates, shares rise
Feb 13 (Reuters) - German online takeaway food company Delivery Hero ( opens new tab on Thursday reported stronger than expected growth for the fourth quarter, aided by strong order development and increasing basket size on its platform. Its shares, which have fallen around 60% from their January 2021 highs as investors shunned food delivery stocks after the pandemic era frenzy, were up 6% by 1009 GMT, among top performers on Europe's benchmark STOXX 600 index (.STOXX), opens new tab. Quarterly gross merchandise value (GMV), which measures the total value of all goods sold, grew 8.2% to 12.81 billion euros ($13.37 billion), beating analysts' average forecast of 12.31 billion euros. The owner of Glovo also forecast GMV growth of 8% to 10% for 2025, compared with 8.3% last year. "A solid set of results, in particular driven by MENA and LatAm," analysts said in a note to clients. Delivery Hero reported a quarterly GMV of 3.7 billion euros in the Middle East and Northern Africa, its second biggest market behind Asia. The metric was 1.1 billion euros in the Americas region where it operates under the Pedidosya brand. LATIN AMERICA GROWTH The company expects Pedidosya, which operates in 15 countries in Latin America, to reach the dimensions of its crown jewel Talabat ( opens new tab in two or three years, CEO Niklas Ostberg told Reuters after the earnings publication. "If we IPO it or not, that's probably another question. I think not, but the business itself is incredibly strong," Ostberg said. Delivery Hero listed Talabat ( opens new tab in Dubai in early December, while keeping an 80% stake in the subsidiary. While governments and companies scramble to hedge the impact of U.S. tariffs, Ostberg said he did not see a direct hit on Delivery Hero, which he said was "fairly resilient" to inflation and other aspects that might affect it. Delivery Hero said in a separate statement that it planned to buy back around 1 billion euros of convertible bonds, using the proceeds from Talabat's IPO. ($1 = 0.9581 euros)
