Latest news with #DhwaniPandya
Time of India
a day ago
- Business
- Time of India
Temasek eyes more Indian family-run businesses after Haldiram's deal
By Dhwani Pandya Singapore's state investor Temasek is looking to invest more in Indian family-run businesses , a top executive said on Monday, months after it invested $1 billion in a popular domestic snacks company. Family businesses in India, with their multigenerational legacies, strong domestic brands and loyal customers, have become attractive for global investors in recent years. In March, Temasek bought a 10% stake in Haldiram's at a valuation of around $10 billion, with sources describing it as a "prized asset" that will help investors expand its focus on India's consumer sector. "We've been very active in investing behind family-run businesses, we can invest across the value chain," Vishesh Shrivastav, managing director of Temasek's India investment team, said in an interview at its Mumbai office. Temasek has earlier invested in many businesses in India which were once run by business families, such as Manipal Hospitals and Dr Agarwal's Health Care. In a separate factsheet, Temasek said it was "keen to partner more family-owned businesses to drive long-term value creation." It did not name any potential targets. Temasek spent $2 billion in April 2023 to raise its stake in Manipal to 59% from 18% in the biggest hospital sector deal ever in India. It later sold a minority stake to Novo Nordisk's parent Novo Holdings and Abu Dhabi's sovereign investor Mubadala, but retained majority control of the hospital chain. Asked about Manipal Hospitals possible public offering, Shrivastav said it was "an eminently listable company," without elaborating. India continues to be Temasek's best-performing market over the last decade, as it remained the world's fastest-growing major economy and the second largest IPO market in 2025. Temasek said it maintained its positive outlook for India and its 2023 goal of investing up to $10 billion in Asia's third-largest economy over a three-year horizon. Temasek invested over $3 billion in India over the past year.
Business of Fashion
2 days ago
- Business
- Business of Fashion
Prada Eyes ‘Made in India' Collaboration After Sandal Scandal
Prada is looking to collaborate with 'artisanal footwear' makers in India in a partnership, it said on Friday, two weeks after the Italian luxury group triggered a controversy by debuting ethnic sandals resembling 12th-century Indian ones. After viral photos from a Milan fashion show drew criticism from Indian artisans who make the sandals - named after the historic city of Kolhapur in Maharashtra state - Prada was forced late last month to acknowledge that its new open-toe footwear was inspired by ancient Indian designs. The furore even saw sales of Indian sandals boom, with sellers and artisans seeing the controversy as a way to promote the heritage craft by tapping into nationalist pride. Prada said in a statement to Reuters that it held talks remotely on Friday with the Maharashtra Chamber of Commerce, which represents 3,000 Kolhapuri sandal artisans, and discussed potential opportunities for future collaboration. 'The next step will be for Prada's supply chain team to meet a range of artisanal footwear manufacturers,' the company said. The Maharashtra Chamber of Commerce said that Lorenzo Bertelli, son of Prada's owners and head of its corporate social responsibility, joined the talks on Friday. The chamber of commerce said that during the talks Prada said it aimed to launch a limited-edition 'Made in India' Kolhapuri-inspired collection of sandals in partnership with Indian artisans. India's luxury market is small but growing, with the rich splurging on designer fashion, top end sports cars and pricey watches. Prada does not have any retail stores in India, and its products are usually reserved for the super rich who shop overseas. The sandal scandal left the social media abuzz for days with criticism and sarcastic memes, with Indian politicians, artisans and the Maharashtra Chamber of Commerce demanding due credit to Indian heritage. By Dhwani Pandya, Elisa Anzolin, Abinaya Vijayaraghavan; Editors: Aditya Kalra, Susan Fenton Learn more: After Prada 'Sandal Scandal,' Indian Sellers Tap Nationalist Pride to Boost Sales Sales are surging for the 'Kolhapuri' sandals that garnered global attention after Prada sparked a controversy by showing a similar design on the runway without crediting its origin.
Yahoo
4 days ago
- Automotive
- Yahoo
Musk's Tesla marks formal India entry with Mumbai launch event
By Dhwani Pandya and Aditi Shah (Reuters) -Tesla will open its first India showroom in Mumbai next week, having imported $1 million worth of cars and merchandise, marking its entry into the world's third-largest car market despite CEO Elon Musk's complaints about high import tariffs. In an invitation to media late Thursday, the carmaker said the July 15 event was the "launch of Tesla in India through the opening of the Tesla experience centre at Bandra Kurla Complex," located in the city's leading commercial business district. Grappling with excess manufacturing capacity at its other factories and falling sales, Tesla has pivoted to selling imported cars in India on which it will need to pay about 70% import duty and other levies. Commercially available custom records from January to June showed Tesla imported vehicles, chargers and accessories into India worth close to $1 million, mainly from China and the United States. The vehicles included six of Tesla's best-selling Model Y at a shipment value of $32,500 each for five cars, and $46,000 for the long-range version, as well as several Superchargers. Indian Prime Minister Narendra Modi's government has for years wooed Tesla, including forming a new policy to attract the carmaker to build its EVs locally. Last year, Musk had planned to visit India where he was expected to announce an investment of $2 billion-$3 billion, including in local EV manufacturing. But he cancelled the trip at the last moment. Tesla has conveyed it is not interested in manufacturing in India at the moment. U.S. President Donald Trump has said that if Tesla were to build a factory in India to circumvent that country's tariffs, it would be "unfair" to the U.S." Tesla has hired for several of the three dozen positions it advertised in India earlier this year, bringing on board store managers, sales and service executives. It is looking for supply chain engineers and vehicle operators for its autopilot ambitions. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Prada looks at collaboration with Indian footwear artisans after sandal scandal
By Dhwani Pandya and Elisa Anzolin MUMBAI/MILAN (Reuters) -Prada is looking to collaborate with "artisanal footwear" makers in India in a partnership, it said on Friday, two weeks after the Italian luxury group triggered a controversyby debuting ethnic sandals resembling 12th-century Indian ones. After viral photos from a Milan fashion show drew criticism from Indian artisans who make the sandals - named after the historic city of Kolhapur in Maharashtra state - Prada was forced late last month to acknowledge that its new open-toe footwear was inspired by ancient Indian designs. The furore even saw sales of Indian sandals boom, with sellers and artisans seeing the controversy as a way to promote the heritage craft by tapping into nationalist pride. Prada said in a statement to Reuters that it held talks remotely on Friday with the Maharashtra Chamber of Commerce, which represents 3,000 Kolhapuri sandal artisans, and discussed potential opportunities for future collaboration. "The next step will be for Prada's supply chain team to meet a range of artisanal footwear manufacturers," the company said. The Maharashtra Chamber of Commerce said that Lorenzo Bertelli, son of Prada's owners and head of its corporate social responsibility, joined the talks on Friday. The chamber of commerce said that during the talks Prada said it aimed to launch a limited-edition "Made in India" Kolhapuri-inspired collection of sandals in partnership with Indian artisans. India's luxury market is small but growing, with the rich splurging on designer fashion, top end sports cars and pricey watches. Prada does not have any retail stores in India, and its products are usually reserved for the super rich who shop overseas. The sandal scandal left the social media abuzz for days with criticism and sarcastic memes, with Indian politicians, artisans and the Maharashtra Chamber of Commerce demanding due credit to Indian heritage.
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Business Standard
5 days ago
- Business
- Business Standard
Prada explores collaboration with Indian footwear artisans after sandal row
The furore even saw sales of Indian sandals boom, with sellers and artisans seeing the controversy as a way to promote the heritage craft by tapping into nationalist pride Reuters MUMBAI/MILAN By Dhwani Pandya and Elisa Anzolin Prada is looking to collaborate with "artisanal footwear" makers in India in a partnership, it said on Friday, two weeks after the Italian luxury group triggered a controversyby debuting ethnic sandals resembling 12th-century Indian ones. After viral photos from a Milan fashion show drew criticism from Indian artisans who make the sandals named after the historic city of Kolhapur in Maharashtra state Prada was forced late last month to acknowledge that its new open-toe footwear was inspired by ancient Indian designs. The furore even saw sales of Indian sandals boom, with sellers and artisans seeing the controversy as a way to promote the heritage craft by tapping into nationalist pride. Prada said in a statement to Reuters that it held talks remotely on Friday with the Maharashtra Chamber of Commerce, which represents 3,000 Kolhapuri sandal artisans, and discussed potential opportunities for future collaboration. "The next step will be for Prada's supply chain team to meet a range of artisanal footwear manufacturers," the company said. The Maharashtra Chamber of Commerce said that Lorenzo Bertelli, son of Prada's owners and head of its corporate social responsibility, joined the talks on Friday. The chamber of commerce said that during the talks Prada said it aimed to launch a limited-edition "Made in India" Kolhapuri-inspired collection of sandals in partnership with Indian artisans. India's luxury market is small but growing, with the rich splurging on designer fashion, top end sports cars and pricey watches. Prada does not have any retail stores in India, and its products are usually reserved for the super rich who shop overseas. The sandal scandal left the social media abuzz for days with criticism and sarcastic memes, with Indian politicians, artisans and the Maharashtra Chamber of Commerce demanding due credit to Indian heritage. (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.)
