Latest news with #Udan
Hans India
6 days ago
- Business
- Hans India
Udan secures $114 mn from M&G, Lightspeed
Udan secures $114 mn from M&G, Lightspeed eB2B platform Udanhas raised $114 million (about Rs 974 crore) in fresh equity capital in a funding round led by M&G Investments and Lightspeed. The funds will be used to expand udan's presence across categories and customers, particularly targeting the Fast-Moving Consumer Goods (FMCG) sector and the Hotel, Restaurant, and Catering (HoReCa) segment, according to a company statement. "Udanwill also accelerate its private label brands initiatives in the staples category. This capital raise will also fortify udan's balance sheet, providing enhanced financial flexibility as the company advances toward its public market debut. "Over the last 3 years, we have transformed the business by building cost as a capability and a competitive advantage. We have reduced our EBITDA burn by 40 per cent every year for the last 3 years and are on track to achieve full group EBITDA profitability in the next 18 months," Vaibhav Gupta, Co-founder and CEO, udaan, said. With a network of retailers, suppliers, and brands nationwide, Udanenables supply chain and logistics operations, driven by technology and focused on B2B trade.
Time of India
30-04-2025
- Politics
- Time of India
BJP questions AAP's Ludhiana West candidate Sanjeev Arora for taking credit of central government projects.
Ludhiana: The Bharatiya Janata Party ( BJP ) has accused Rajya Sabha MP and Aam Aadmi Party's Ludhiana West assembly byelection candidate Sanjeev Arora of misleading voters by claiming credit for this city's centrally funded development projects, dubbing him "Ludhiana Ka Kejriwal" in a pointed comparison to AAP 's national convener and Delhi's former chief minister Arvind Kejriwal . Punjab BJP general secretary Anil Sarin led the charge during a press conference on Wednesday, challenging Arora to list publicly any infrastructure or development projects secured from the Punjab govt during his three-year term in the Rajya Sabha. "Sanjeev Arora was a member of Parliament for three years before being named AAP's candidate for the Ludhiana West byelection . But can he name even one project that was sanctioned by the state govt through his efforts?" Sarin said. He argued that several key developments Arora had taken credit for — including the Halwara airport, the Ludhiana railway station revamp, elevated roads, and bridges over the Sidhwan Canal — are all initiatives either fully funded or executed by the central govt. Sarin claimed that the Halwara airport was planned under the Prime Minister's Udan scheme well before Arora's term had begun. "The state govt has no role in these projects," Sarin said. "Yet Arora continues to mislead voters, much like Kejriwal in Delhi and chief minister Bhagwant Mann in Punjab — all publicity, no delivery." Sarin warned Arora that he could face the same electoral backlash as Kejriwal, whose party had suffered defeats in Delhi's municipal elections recently. "Voters know when they are being taken for a ride," he added. Med college, Smart City claims disputed by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Alger: AI guru Andrew Ng recommends: Read These 5 Books And Turn Your Life Aroun... Blinkist: Andrew Ng's Reading List Undo The BJP leader also alleged that the AAP candidate had claimed credit falsely for a new Employees' State Insurance (ESI) medical college in Ludhiana. "The central govt had approved 10 ESI medical colleges, and through persistent efforts, Punjab BJP had secured one for Ludhiana," Sarin claimed. He criticised AAP for circulating a recent four-page advertisement in the constituency, in which Arora had reportedly credited self for a range of centrally funded projects. '₹850 cr vanished into Buddha Dariya' Sarin also took aim at both AAP and Congress govts of Punjab over the handling of Ludhiana's Buddha Dariya rejuvenation project. He said that despite Rs 850 crore — mostly from central schemes — being spent, the water body remained polluted. "The public deserves answers. Where was this money spent actually?" he asked. Sarin also questioned the outcome of Rs 1,500 crore allocated under the central Smart Cities Mission. "Where is the smart city?" he asked the Punjab govt and Ludhiana administration. "The same civic issues persist, but the ruling party continues to take credit without results." The BJP has made development accountability a key theme of its campaign ahead of the Ludhiana West byelection, urging voters to scrutinise the claims of its rival parties. MSID:: 120764984 413 |
Time of India
25-04-2025
- Business
- Time of India
CM's airport infra push: Runway expansion at Amravati, upgradation at Shirdi
Nagpur: Chief minister Devendra Fadnavis on Friday directed officials to prepare a detailed expansion plan for the runway at Amravati Airport , citing the region's increasing industrial activity and potential for revenue generation. The directive was issued during the 91st meeting of the Maharashtra Airport Development Company (MADC) held in Mumbai. The CM emphasised the need to extend the existing 1,850m runway to 3,000m for accommodating larger aircraft and enhancing air connectivity. This move follows the recent inauguration of Amravati Airport's first commercial flight under the 'Ude Desh ka Aam Naagrik' (Udan) scheme, which marked the city's entry into India's aviation map. In addition to the runway expansion, Fadnavis highlighted the establishment of Air India's pilot training institute at Amravati, which is poised to become the largest in South Asia. This development is expected to boost the local economy and create employment opportunities in the aviation sector. For Chandrapur Airport, Fadnavis suggested extending the runway to allow for chartered aircraft operations. He also directed officials to look for two to three alternate locations for setting up an airstrip in Gadchiroli. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Intel Laptops + 1:1 Support for Your Team Lenovo Pro Benefits Learn More Undo With Nashik and Trimbakeshwar set to host Kumbh Mela in 2027, the CM approved infrastructure upgrades at Shirdi Airport, including the construction of two helipads and eight vehicle parking bays. Given Shirdi Airport's proximity to Nashik, these enhancements aim to facilitate the influx of pilgrims and ease transit during the religious event. Fadnavis also underscored the importance of accelerating development work at Latur Airport to support its rising significance in the Marathwada region. The upgraded facility is expected to serve neighbouring districts such as Beed and Dharashiv. Additionally, he called for the speedy execution of work at Karad Airport, including provisions for night landing. The meeting also reviewed the progress of airport works in Ratnagiri, Akola, Kolhapur, Nanded, and Dhule. Officials said that 16 regional air routes are currently operational under the Udan scheme , with eight more proposals submitted to govt. Senior officials from the finance, transport, and industry departments, including additional chief secretaries OP Gupta and Sanjay Sethi, and MIDC CEO P Velrasu, were present during the meeting.
