Beijing/New Delhi: General Motors (GM) aims to grab at least 5% market share in India within the next decade, as it sees that market overtaking Japan as the world’s third biggest with projected annual sales of 8 million vehicles by 2025.

The Detroit car maker, which is losing money in India even after 18 years there, will unleash a product blitz aimed at reviving sagging sales, and will make India a new global manufacturing and export hub, taking some of the strain off South Korea, where labour costs have ballooned in recent years.

Mumbai: Loss-making Air India Ltd has decided to sell several real estate assets in India and abroad to raise Rs.1,200 crore in the next 24 months, two Air India executives said. To begin with, Air India in April sought the necessary permissions from the ministry of civil aviation to sell its real estate assets in Chennai, Coimbatore and Mumbai.

However, this move to reduce debt and cut interest costs may not be easy, caution experts.

The Navi Mumbai police on Friday filed a first information report against e-commerce major Snapdeal.com CEO Kunal Bahl and five other firms for allegedly selling drugs, including prescription drugs, online.

Maharashtra’s Food and Drug Administration (FDA) investigated a complaint regarding sale of these drugs online and had ordered a complaint to be registered.

Distinctly weak tendency prevailed for the third week in a row as the benchmark S&P BSE Sensex and the CNX Nifty plunged by another 1.5 pct to close at almost four-month low on host of negative factors during the truncated week under review.

The BSE Sensex and the NSE Nifty were closed on May 1, for observing “Maharashtra Day” holiday.

In a new policy directive issued to zonal railways, officials found fudging data on train punctuality will now pay from their salaries if Indian Railways has to give refunds to passengers thanks to trains being late by over three hours.

The Indian Railway Ministry seeks to weed out the menace of “wrong reporting” of punctuality data in an attempt to paint a rosy picture of train performance in the system. The move will come into effect from June 1, sources confirmed. An order to this effect was issued this week.

State-run telecom operator BSNL on Saturday slashed roaming tariff by up to 40 per cent for its prepaid and postpaid mobile connection with effect from May 1.

The decision had been taken in the wake of telecom tariff order issued by TRAI, the company said in a statement.

New Delhi, May 1: Car makers such as Maruti Suzuki, Hyundai and Honda posted a robust growth in sales in April on the back of launches.

However, SUV major Mahindra & Mahindra could manage a meagre 1 per cent increase, while the sales of General Motors India witnessed a decline.

Bengaluru: Wipro Ltd may save $300 million (around Rs.1,900 crore today) this fiscal year by using automation and artificial intelligence (AI) in work like software testing, thus reducing the number of people deployed in these basic projects.

The attempt by India’s third-largest software services exporter to save about 20% of its $1.4 billion net income comes after it saved $200 million in 2014-15 by freeing many of its 158,000 engineers from manual, repetitive work in the more than 18,000 projects it does for its customers, two executives said.

Indian insurance companies are expected to spend 130.4 billion rupees on IT products and services in 2015, which is an increase of 10.4 per cent over 2014, according to Gartner. This includes spending by insurers on internal IT (including personnel), hardware, software, external IT services and telecommunications.

“The top three technology priorities for Indian insurance CIOs this year are mobility, business intelligence and analytics, and digital marketing – in that order,” said Derry Finkeldey, research director at Gartner.

Micromax subsidiary for high end smartphones, YU is all set to launch its second major smartphone after Yureka. The Indian smartphone company has been marketing the new smartphone under the label Project Caesar.

The company made the official announcement of the phone launch on its Twitter account which says that the YuPhoria smartphone will go live for sale on 12th May in India.

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