Mukesh Ambani added $16.5 billion to his fortune in 2019: Bloomberg Billionaires Index

Agencies
December 24, 2019

Reliance Industries (RIL) Chairman Mukesh Ambani added $16.5 billion to his wealth in 2019 taking his total net worth to $60.8 billion, according to the Bloomberg Billionaires Index.

With around $61 billion of net worth as of Tuesday, the petroleum-to-telecom tycoon is the 12th richest person in the world.

As of November 29, Mukesh Ambani was the ninth richest person in the world, according to 'The Real-Time Billionaires List' of Forbes.

The recent consistent rise in RIL's shares prices is a major reason in the past one year. Data from the National Stock Exchange (NSE) shows that said that RIL's share price rose by over 41 per cent in the past one year.

On Tuesday, its shares closed at Rs 1,544.50, lower by Rs 26.90 or 1.71 per cent from its previous close.

On November 28, it became the first India company to reach a market capitalisation of Rs 10 lakh crore. This came after the company’s stock price rose to a high of Rs 1,581.25 on 28th at around 10am. RIL is now the most valued listed company in the country in terms of market capitalisation.

As per reports, the shares of RIL have been outperforming the market since the beginning of this year, surging nearly 40%.

RIL was also the first India company to hit a market capitalisation of Rs 9 lakh crore on October 18.

In the past few years, the company has significantly diversified its business with its disruptive entry into the telecom segment with Jio, then into the broadband services with Jio GigaFiber. The group has also strengthened its retail presence and would soon enter the e-commerce segment giving a tough competition to the incumbents Amazon and Flipkart.

The list of the world's richest individuals is topped by Bill Gates with a net worth of $113 billion, aided by an addition of $22.4 billion this year.

Alibaba Group founder Jack Ma's (19th richest) net worth rose by $11.3 billion while Amazon CEO Jeff Bezos, the second richest individual in the world, lost $13.2 billion.

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News Network
January 17,2020

New Delhi, Jan 17: E-commerce major Amazon on Friday said it plans to create one million new jobs in India over the next five years through investments in technology, infrastructure and its logistics network.

These jobs are in addition to the seven lakh jobs Amazon's investments have enabled over the last six years in the country.

"Amazon plans to create one million new jobs in India by 2025," the company said in a statement, adding that the jobs - created both directly and indirectly - will be across industries, including information technology, skill development, content creation, retail, logistics, and manufacturing.

Amazon.com Inc chief Jeff Bezos had on Wednesday announced USD 1 billion (over Rs 7,000 crore) investment in India to help bring small and medium businesses online and committed to exporting USD 10 billion worth of India-made goods by 2025.

"We are investing to create a million new jobs here in India over the next five years," Bezos said.

"We’ve seen huge contributions from our employees, extraordinary creativity from the small businesses we've partnered with, and great enthusiasm from the customers who shop with us—and we’re excited about what lies ahead," Bezos added.

India has prioritised job creation and skilling initiatives – including the training of more than 400 million people by 2022 – in rural and urban areas.

"Amazon’s job creation commitment and investment in traders and micro, small and medium enterprises (MSMEs) complement this social inclusion and social mobility efforts by creating more opportunities for people in India to find employment, build skills, and expand entrepreneurship opportunities," the statement said.

The new investments will help to hire talent to fill roles across Amazon in India, including software development engineering, cloud computing, content creation, and customer support.

Since 2014, Amazon has grown its employee base more than four times, and last year inaugurated its new campus building in Hyderabad – Amazon’s first fully-owned campus outside the United States and the largest building globally in terms of employees (15,000) and space (9.5 acres).

The investments will also help in expanding growth opportunities for the more than 5,50,000 traders and micro, small, and medium-sized businesses – including local shops – through programs like Saheli, Karigar, and “I Have Space”.

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Agencies
June 29,2020

New Delhi, Jun 29: Witnessing azure skies and breathable air for the last three months, Delhi on Monday recorded deterioration in its air quality, with particulate matter with diameter of 2.5 and 10 microns -- too small to be filtered out of the human body -- standing at 52 and 297 micrograms per cubic respectively.

Gufran Beig, Project Director of System of Air Quality Weather Forecasting and Research (SAFAR), said that the sudden spike in air pollution is due to a mild dust storm blowing from Rajasthan.

"Since the wind direction is changing and moist air is coming in, the air quality in Delhi will become better by tomorrow," Beig told IANS.

Central Pollution Control Board (CPCB) data showed that the overall air quality near Delhi Technical University (DTU) area stood at 326 micrograms per cubic, followed by 308 at Narela and 307 at Mundka.

Out of 36 stations, the AQI in as many as 30 stations was above 200 micrograms per cubic till 1 pm on Monday.

The System of Air Quality Weather Forecasting and Research categorises air quality in the 0-50 range as good, 51-100 as satisfactory, 101-200 as moderate, 201-300 as poor, 301-400 as very poor, and above 400 as severe.

According to SAFAR's website, "PM 10 (coarser dust particle) is the lead pollutant. AQI is likely to improve to moderate category by tomorrow, and further improvement is expected by July 1."

Researchers indicated that PM 10 and PM 2.5 will be 170 and 47 micrograms per cubic on Tuesday.

With no vehicles plying on the roads or industries shut due to the lockdown since March 25, Delhi's air quality had improved drastically.

According to a study conducted by the Indian Institute of Technology (IIT), Delhi, if the low levels of air pollution reached during the lockdown period are maintained, India's annual death toll could reduce by 6.5 lakh.

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Agencies
June 24,2020

New Delhi, Jun 24: The Centre has made it mandatory for sellers to enter the 'Country of Origin' while registering all new products on government e-marketplace (GeM).

The e-marketplace is a special purpose vehicle (SPV) under the Ministry of Commerce and Industry which facilitates the entry of small local sellers in public procurement, while implementing 'Make in India' and MSE Purchase Preference Policies of the Centre.

Accordingly, the ministry said the move has been made to promote 'Make in India' and 'Atma Nirbhar Bharat'.

The provision has been enabled via the introduction of new features on GeM.

Besides the registration process, the new feature also reminds sellers who have already uploaded their products, to disclose their products' 'Country of Origin' details.

The ministry further said that failing to disclose the detail will lead to removal of the products from the e-marketplace.

"GeM has taken this significant step to promote 'Make in India' and 'Aatmanirbhar Bharat'," the ministry said in a statement.

"GeM has also enabled a provision for indication of the percentage of local content in products. With this new feature, now, the 'Country of Origin' as well as the local content percentage are visible in the marketplace for all items. More importantly, the 'Make in India' filter has now been enabled on the portal. Buyers can choose to buy only those products that meet the minimum 50 per cent local content criteria."

In case of bids, the ministry said that buyers can now reserve any bid for a "Class I Local suppliers. For those bids below Rs 200 crore, only Class I and Class II Local Suppliers are eligible to bid, with Class I supplier getting purchase preference".

In addition to this, the Department for Promotion of Industry and Internal Trade (DPIIT) has reportedly called for a meeting with all e-commerce companies such as Amazon and Flipkart to display the country of origin on the products sold on their platform, as well as the extent of value added in India.

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