Latest news with #CIIAnnualBusinessSummit2025
Time of India
02-06-2025
- Business
- Time of India
ITC Limited will make its next investment in Andhra Pradesh: Sanjiv Puri
New Delhi: ITC Limited will make its next investment in Andhra Pradesh, said Sanjiv Puri, Managing Director of the company and CII President, during the CII Annual Business Summit 2025 in the national capital. "The next investment we make will be in Andhra Pradesh, and then you will hear about it very soon, Puri said, speaking with Andhra Pradesh Chief Minister Chandrababu Naidu in the concluding session of the industry body's annual business summit. "Chief Minister, it is with that thought in mind about the point you made on performance, we know it from the past. That is what motivated me to say we are going to invest because we have seen how you have transformed in the past, and we are seeing the speed with which Andhra Pradesh is now transforming, and this has all been very encouraging to all of us," said ITC's MD, talking to Naidu. ITC is one of India's foremost private sector companies with presence in Fast Moving Consumer Goods (FMCG), Packaging, Paperboards & Specialty Papers, Agri and IT businesses. The company has been investing heavily in the state across sectors. In the quarter that ended on March 31, the company delivered a resilient performance during the year amidst a challenging macroeconomic and operating environment. For FY25, Gross Revenue and EBITDA from Continuing Operations stood at Rs 73464.55 crores and Rs 24024.83 crores respectively. Profit Before Exceptional items and Tax stood at Rs 26000.86 crores. ITC's FMCG-Others segment delivered a resilient performance amidst weak demand conditions and the significant increase in competitive intensity from regional or local players. As per the company's statement, its businesses continue to leverage the power of digital to drive superior consumer insights & innovation, deepen consumer engagement and enhance brand loyalty. The Company's deep and wide multi-channel distribution network, with tailored channel-specific assortments, continues to sharply target opportunity areas through superior product availability and visibility. Focused investments continue to be made to enhance distribution infrastructure and drive penetration across markets. Addressing the summit, Andhra Pradesh CM invited industry's investments in the state, stating that this is the "right time" to invest in India's development. CM Naidu highlighted the state's strategic roadmap under the Swarna Andhra Vision 2047, focusing on accelerated economic growth, inclusive development, industrial resurgence, and innovation-led transformation.
India Gazette
01-06-2025
- Business
- India Gazette
ITC Limited will make its next investment in Andhra Pradesh: Sanjiv Puri
New Delhi [India], June 1 (ANI): ITC Limited will make its next investment in Andhra Pradesh, said Sanjiv Puri, Managing Director of the company and CII President, during the CII Annual Business Summit 2025 in the national capital. 'The next investment we make will be in Andhra Pradesh, and then you will hear about it very soon, Puri said, speaking with Andhra Pradesh Chief Minister Chandrababu Naidu in the concluding session of the industry body's annual business summit. 'Chief Minister, it is with that thought in mind about the point you made on performance, we know it from the past. That is what motivated me to say we are going to invest because we have seen how you have transformed in the past, and we are seeing the speed with which Andhra Pradesh is now transforming, and this has all been very encouraging to all of us,' said ITC's MD, talking to Naidu. ITC is one of India's foremost private sector companies with presence in Fast Moving Consumer Goods (FMCG), Packaging, Paperboards & Specialty Papers, Agri and IT businesses. The company has been investing heavily in the state across sectors. In the quarter that ended on March 31, the company delivered a resilient performance during the year amidst a challenging macroeconomic and operating environment. For FY25, Gross Revenue and EBITDA from Continuing Operations stood at Rs 73464.55 crores and Rs 24024.83 crores respectively. Profit Before Exceptional items and Tax stood at Rs 26000.86 crores. ITC's FMCG-Others segment delivered a resilient performance amidst weak demand conditions and the significant increase in competitive intensity from regional or local players. As per the company's statement, its businesses continue to leverage the power of digital to drive superior consumer insights & innovation, deepen consumer engagement and enhance brand loyalty. The Company's deep and wide multi-channel distribution network, with tailored channel-specific assortments, continues to sharply target opportunity areas through superior product availability and visibility. Focused investments continue to be made to enhance distribution infrastructure and drive penetration across markets. Addressing the summit, Andhra Pradesh CM invited industry's investments in the state, stating that this is the 'right time' to invest in India's development. CM Naidu highlighted the state's strategic roadmap under the Swarna Andhra Vision 2047, focusing on accelerated economic growth, inclusive development, industrial resurgence, and innovation-led transformation. (ANI)
Mint
01-06-2025
- Business
- Mint
MoD slashed timelines for some processes in procurement cycle, saved 69 weeks: Defence Secretary
Defence Secretary Rajesh Kumar Singh said that the Ministry of Defence (MoD) has significantly reduced timelines for key military equipment procurement processes as part of major reforms to improve efficiency and promote India's goal of 'Aatmanirbharta' in the defence sector, according to an official release. Speaking at a defence conclave in the national capital on Friday, Singh stated that the decision will save an overall 69 weeks, noting that the Defence Acquisition Procedure (DAP) 2020 is being revisited to reflect current realities, shifting from the traditional nomination-based cost-plus procurement to a competitive pricing model where both public and private sectors can vie for orders. This approach is already being implemented for shipbuilding and recently for the AMCA project, he added. Singh's statement came amid concerns raised by Chief of Air Staff, Air Chief Marshal AP Singh, during his address at the CII Annual Business Summit 2025 on Thursday, where he highlighted ongoing delays in defence projects, unrealistic timelines, and their adverse effect on operational readiness. Air Chief Marshal pointed at the recurring pattern of delays in project execution and criticised the practice of committing to unachievable deadlines in the context of the reported ongoing challenges with projects like the delivery of the aircraft. Singh emphasised the critical role of self-reliance in preserving India's strategic autonomy and achieving the vision of Viksit Bharat while urging private industries to invest heavily in research and development (R&D) and capital equipment to strengthen the domestic defence ecosystem. Deliberating upon India's Defence Vision, Defence Secretary Rajesh Kumar Singh said that it centres around Aatmanirbharta for preserving the strategic autonomy of the country. It is also critical in achieving the broader goal of Viksit Bharat, such as expanding our GDP from the current 4 Trillion Dollars to 32 Trillion Dollars by 2047, growing our manufacturing sector, enhancing India's start-up culture and widening our industrial base, generating employment and also its spin-off benefits that come from the dual use of technology. He underscored the impact of indigenisation over the past decade, stating that India has transitioned from being the top importer in 2015 to becoming one of the top 25 exporters today. Over 100 Indian companies are now exporting to 100-plus countries. The list of products includes missiles such as Brahmos, rocket launchers like Pinaka, simulators, armoured vehicles, the Dornier aircraft, different types of ships, offshore patrol vessels, etc. The upsurge in exports can be gauged from the fact that our exports have grown 30 times in the last ten years to ₹ 23,622 crores in the last financial year. Our defence industry today includes 16 Defence PSUs, 430 licensed companies and approximately 16000 MSMEs. Domestic defence sales also increased from ₹ 43746 crores in 2014 to ₹ 127000 crores in 2023-24. Singh also highlighted record achievements in the financial year 2024-25, noting that the MoD has completely utilised the defence modernisation budget for the first time in the past five years and signed contracts worth a record ₹ 2 lakh crores during the last financial year, which is the highest ever achieved and double that of the figures for 2023-24. This would ensure that the armed forces' modernisation process keeps pace. It would also help the Ministry demand a higher share in the union budget, leading to a minimum defence to GDP ratio of 2.5 per cent in five years as a first step and thereafter to 3 per cent in the medium term.
India Gazette
31-05-2025
- Business
- India Gazette
MoD slashed timelines for some processes in procurement cycle, saving about 69 weeks: Defence Secretary
New Delhi [India], May 31 (ANI): Defence Secretary Rajesh Kumar Singh announced that the Ministry of Defence (MoD) has significantly shortened timelines for key processes in the military equipment procurement cycle as part of sweeping reforms aimed at boosting efficiency and advancing India's goal of 'Aatmanirbharta' in the defence sector, as per an official release. Speaking at a defence conclave in the national capital on Friday, Singh stated that the decision will save an overall 69 weeks, noting that the Defence Acquisition Procedure (DAP) 2020 is being revisited to reflect current realities, shifting from the traditional nomination-based cost-plus procurement to a competitive pricing model where both public and private sectors can vie for orders. This approach is already being implemented for shipbuilding and recently for the AMCA project, he added. Singh's remark followed serious concerns raised by the Chief of Air Staff and Air Chief Marshal AP Singh during his address at the CII Annual Business Summit 2025 on Thursday over persistent delays in defence projects, the systemic issue of unrealistic timelines, and their impact on operational readiness. Air Chief Marshal pointed at the recurring pattern of delays in project execution and criticised the practice of committing to unachievable deadlines in the context of the reported ongoing challenges with projects like the delivery of the aircraft. Singh emphasised the critical role of self-reliance in preserving India's strategic autonomy and achieving the vision of Viksit Bharat while urging private industries to invest heavily in research and development (R&D) and capital equipment to strengthen the domestic defence ecosystem. Deliberating upon India's Defence Vision, Defence Secretary Rajesh Kumar Singh said that it centres around Aatmanirbharta for preserving the strategic autonomy of the country. It is also critical in achieving the broader goal of Viksit Bharat, such as expanding our GDP from the current 4 Trillion Dollars to 32 Trillion Dollars by 2047, growing our manufacturing sector, enhancing India's start-up culture and widening our industrial base, generating employment and also its spin-off benefits that come from the dual use of technology. He underscored the impact of indigenisation over the past decade, stating that India has transitioned from being the top importer in 2015 to becoming one of the top 25 exporters today. Over 100 Indian companies are now exporting to 100-plus countries. The list of products includes missiles such as Brahmos, rocket launchers like Pinaka, simulators, armoured vehicles, the Dornier aircraft, different types of ships, offshore patrol vessels, etc. The upsurge in exports can be gauged from the fact that our exports have grown 30 times in the last ten years to Rs 23,622 crores in the last financial year. Our defence industry today includes 16 Defence PSUs, 430 licensed companies and approximately 16000 MSMEs. Domestic defence sales also increased from Rs 43746 crores in 2014 to Rs 127000 crores in 2023-24. Singh also highlighted record achievements in the financial year 2024-25, noting that the MoD has completely utilised the defence modernisation budget for the first time in the past five years and signed contracts worth a record Rs 2 lakh crores during the last financial year, which is the highest ever achieved and double that of the figures for 2023-24. This would ensure that the armed forces' modernisation process keeps pace. It would also help the Ministry demand a higher share in the union budget, leading to a minimum defence to GDP ratio of 2.5 per cent in five years as a first step and thereafter to 3 per cent in the medium term. (ANI)
Time of India
31-05-2025
- Business
- Time of India
MoD slashed timelines for some processes in procurement cycle, saving about 69 weeks: Defence Secretary
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi [India], May 31 (ANI): Defence Secretary Rajesh Kumar Singh announced that the Ministry of Defence (MoD) has significantly shortened timelines for key processes in the military equipment procurement cycle as part of sweeping reforms aimed at boosting efficiency and advancing India's goal of ' Aatmanirbharta ' in the defence sector, as per an official at a defence conclave in the national capital on Friday, Singh stated that the decision will save an overall 69 weeks, noting that the Defence Acquisition Procedure (DAP) 2020 is being revisited to reflect current realities, shifting from the traditional nomination-based cost-plus procurement to a competitive pricing model where both public and private sectors can vie for approach is already being implemented for shipbuilding and recently for the AMCA project, he remark followed serious concerns raised by the Chief of Air Staff and Air Chief Marshal AP Singh during his address at the CII Annual Business Summit 2025 on Thursday over persistent delays in defence projects, the systemic issue of unrealistic timelines, and their impact on operational Chief Marshal pointed at the recurring pattern of delays in project execution and criticised the practice of committing to unachievable deadlines in the context of the reported ongoing challenges with projects like the delivery of the emphasised the critical role of self-reliance in preserving India's strategic autonomy and achieving the vision of Viksit Bharat while urging private industries to invest heavily in research and development (R&D) and capital equipment to strengthen the domestic defence upon India's Defence Vision, Defence Secretary Rajesh Kumar Singh said that it centres around Aatmanirbharta for preserving the strategic autonomy of the country. It is also critical in achieving the broader goal of Viksit Bharat, such as expanding our GDP from the current 4 Trillion Dollars to 32 Trillion Dollars by 2047, growing our manufacturing sector, enhancing India's start-up culture and widening our industrial base, generating employment and also its spin-off benefits that come from the dual use of underscored the impact of indigenisation over the past decade, stating that India has transitioned from being the top importer in 2015 to becoming one of the top 25 exporters today. Over 100 Indian companies are now exporting to 100-plus countries. The list of products includes missiles such as Brahmos, rocket launchers like Pinaka, simulators, armoured vehicles, the Dornier aircraft, different types of ships, offshore patrol vessels, etc. The upsurge in exports can be gauged from the fact that our exports have grown 30 times in the last ten years to Rs 23,622 crores in the last financial year. Our defence industry today includes 16 Defence PSUs, 430 licensed companies and approximately 16000 MSMEs. Domestic defence sales also increased from Rs 43746 crores in 2014 to Rs 127000 crores in also highlighted record achievements in the financial year 2024-25, noting that the MoD has completely utilised the defence modernisation budget for the first time in the past five years and signed contracts worth a record Rs 2 lakh crores during the last financial year, which is the highest ever achieved and double that of the figures for would ensure that the armed forces' modernisation process keeps pace. It would also help the Ministry demand a higher share in the union budget, leading to a minimum defence to GDP ratio of 2.5 per cent in five years as a first step and thereafter to 3 per cent in the medium term.
