Latest news with #RajeshJain
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Business Standard
01-08-2025
- Business
- Business Standard
R R Kabel to redirect exports from US after 25% tariff on Indian goods
India's top wire exporter R R Kabel will ramp up shipments to key markets, including Europe and the Middle East, to cushion the impact of a 25 per cent US tariff on Indian goods, a senior executive told Reuters on Friday. "I will not take any extra hit on my profit and loss (statement) just to make supply to the US," finance chief Rajesh Jain said in an interview, adding that he will pass on any price increases to his customers. Jain reaffirmed the firm's 2026 fiscal year volume growth forecast of 16 per cent-18 per cent, saying R R Kabel plans to hedge against US risks by redirecting products to other key markets. While the United States contributes just 2.5 per cent to R R Kabel's revenue, it accounts for around 10 per cent of its export income. Europe and the Middle East, in comparison, contribute approximately 40 per cent and 35 per cent of overseas revenue, respectively. "Sometimes when you are dealing in so many markets, so many products, there you can compensate if there is any negative movement in any of the geographies," he added. Jain said his US clients are in "wait and watch" mode amid tariff uncertainties, but added that existing orders have not been cancelled yet. Trump on Wednesday said that Indian exports to the US will face a 25 per cent tariff from August 1 as well as an undisclosed penalty. R R Kabel is among the first few Indian companies to react to the tariffs. On Thursday, Tata Steel's chief executive told Bloomberg News that the company is also exploring alternative markets. (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.)
Reuters
01-08-2025
- Business
- Reuters
India's R R Kabel to increase overseas shipments outside US to counter tariffs
Aug 1 (Reuters) - India's top wire exporter R R Kabel ( opens new tab will ramp up shipments to other key overseas markets if President Donald Trump's proposed tariffs dent competitiveness in the United States, a senior executive told Reuters on Friday. Finance chief Rajesh Jain maintained the firm's full-fiscal volume growth forecast of 16%-18%, saying it will hedge against U.S. risks by routing more products to other key markets like Europe and the Middle East.
Time of India
19-07-2025
- Business
- Time of India
Bank manager shifted days after flagging fund misuse
Jabalpur: A manager of the District Cooperative Central Bank in Katni was issued a transfer order days after he reported suspected misappropriation of Rs 19.41 lakh. The letter, which was sent to him via email, was received six days after making the complaint, but was dated a day before he made the complaint. Rajesh Kumar Jain, who was serving as the manager at the bank's Katni branch, wrote a complaint letter to the bank CEO in Jabalpur regarding financial irregularities. The letter stated that during an audit of old entries, it was discovered that on Jan 19, 2018, an unauthorised debit of Rs 19.41 lakh was made from the procurement current accounts of the committees in District Katni and credited to another account. The branch credited the said amount to the account under the pretext of supplying tags, ink, etc. No tender was issued at the district level for the purchase of tags and ink, said the complaint. According to regulations, the amount should have been credited to the committee's account for purchasing tags and ink. Before debiting the amount from the committees' accounts, a cheque for the said amount should have been obtained from them. Branch Manager Rajesh Kumar Jain wrote this complaint letter on May 28, 2025. Six days later, he received the transfer order via email, but it was dated May 27. Regarding this, Rajesh Jain stated that he was transferred six days after reporting the financial irregularities. "There must be some pressure, I cannot think of anything else," Jain said.
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Business Standard
19-06-2025
- Business
- Business Standard
Welspun Living to launch large-scale skilling programme for textile sector
Home textiles manufacturer Welspun Living Ltd on Thursday said it has inked an agreement with the National Skill Development Corporation (NSDC) to launch a large-scale skilling and employment initiative focused on operator-level roles in the textile sector. Under this initiative, Welspun Living will train and certify 1,000 candidates in its pilot phase, with at least 50 per cent women participation, particularly from underrepresented regions such as the North-Eastern states and Uttarakhand, the company said in a statement. The total investment for the program amounts to Rs 4.25 crore. "This partnership reflects our commitment to inclusive and sustainable growth. By focusing on women from North East and Uttarakhand, we are not only bridging skill gap but also unlocking pathways to economic independence, self-worth, and generational impact," Welspun Living MD and CEO Dipali Goenka said. The program will be conducted at Welspun's facilities in Anjar and Vapi in Gujarat in a combination of classroom-based training and on-the-job training in key technical areas such as machine handling, production processes, quality control, safety protocols, and soft skills. Upon successful completion, all trainees will receive a joint certification from NSDC and Welspun and be assured of captive employment within Welspun's textile operations. "Skill development is not just about employment, it is about creating opportunities and empowering people with the ability to transform their futures. Through our collaboration with NSDC, we aim to create a more inclusive and future-ready textile workforce, and contribute to boost economic growth," Welspun Living Ltd Chief Human Resources Officer Rajesh Jain added. (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.)
The Hindu
09-06-2025
- Business
- The Hindu
Chennai Corporation survey shows a rise in number of homeless persons
The number of homeless persons in the city has crossed 13,000, with the Central Business District of George Town in Royapuram Zone of the Chennai Corporation accounting for the most number of homeless people. The Chennai Corporation conducted a survey of the homeless in January, and found an increase in the number of persons without decent housing, when compared to the previous surveys that reported around 11,000 homeless individuals in the city. This has been attributed to an increasing number of people migrating from other districts and States in search of economic opportunities over the past few years. The Greater Chennai Corporation (GCC) found that the number of homeless individuals, which was 9623 by mid-February, had crossed 13,000 by the end of the survey in May. Ward 57 Councillor Rajesh Jain said: 'People from States such as Andhra Pradesh and Bihar have come to my ward in Royapuram zone in search of jobs, and some of them have been homeless. The number of homeless women is higher than that of men in several parts of my ward. Many people have come to Chennai in search of jobs from other districts also.' Pointing to the rise in the number of homeless persons on stretches such as Wall Tax Road and Prakasam Salai, Mr. Jain said they had started demanding housing facilities. 'We do not know the actual reason for the rise in the number of persons migrating to the city from other States. We have to verify whether it is due to failed agriculture in their native villages. We have taken measures to help them. Around 10% of the homeless children do not go to school. The GCC has two schools in the ward to provide free education for the children,' he said. Ward 56 Councillor V. Parimalam said efforts were being taken to persuade homeless children to go to school, pointing to the installation of smart classrooms in Chennai Corporation schools. They also face other challenges. R. Manikandan, who was identified as a homeless resident of Royapettah during the survey in January, had to move out of the area he used to live in due to the implementation of infrastructure projects by civic agencies. Though he rented a house in May, he has not been able to pay the rent of ₹3500 this month. G. Selva, CPI(M) district secretary, said there was an increase in the number of wage labourers without shelters in the city. 'They work hard. The government should ensure the dignity of such individuals.' An official of the Chennai Corporation said a number of homeless individuals, who were identified in the survey, did not have Aadhaar and ration cards. 'We will facilitate the issuance of ration cards for those who are yet to get one,' the official said.
