Business
Maruti Suzuki to make Sonipat unit its largest production base in India
We have heard that the country’s largest automaker will soon start work on a new production plant in Sonepat, Haryana, and this new plant will be Maruti Suzuki’s largest in India. It is not news that a new factory in Maruti Suzuki is under construction. We had a lot of discussions on this last year. However, there may be news that the company’s new manufacturing plant in the country could become the largest Maruti Suzuki plant in India. Yes, according to a new ET report, the country’s largest automaker will soon begin work on a new production facility in Sonepat, Haryana, which will be the company’s largest facility in the country. Currently, Maruti Suzuki has two factories in India: one in Gurugram and the other in Manesar.
R. C. Bhargava, chairman of Maruti Suzuki, told the publication that construction work on the new plant will begin soon. The new Maruti Suzuki factory in Sonnpat is expected to open in 2025. He explained that the company is currently awaiting the necessary approvals and permits, and the first assembly line of the new factory unit will be operational within three years, by 2025.
Interestingly, the Sony Pat factory in Maruti Suzuki alone can have a total installed capacity of around 1 million units. This is because, Bhargava explained, the Sonipat plant has the necessary land to build a fourth assembly line. Not so at the company’s facilities in Gurugram and Manesar. Maruti Suzuki currently operates three assembly lines each at its Gurugram and Manesar plants; together these facilities provide an annual production capacity of approximately 1.5 million units.
Sonipat’s new factory, with a total investment of around Rs 18,000 crore, is designed to help the company move out of the Gurugram factory, which has suffered heavy losses due to congestion and traffic.
Complete News Source : TimesDrive
india
Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’
Following US SEC charges of bribery against Gautam Adani, opposition parties criticise PM Narendra Modi and call for a JPC investigation.
As billionaire Gautam Adani faces charges in the US for alleged bribery and fraud, the Opposition on Thursday intensified its attack on the Centre over its alleged links with the Adani Group.
Gautam Adani has been charged in the US with allegedly paying $250 million in bribes to Indian officials between 2020 and 2024 to secure favourable terms for solar energy contracts. The scheme, prosecutors said, could have earned Adani’s group over $25 billion in profits.
Congress demands JPC probe
Reacting to the charges, the Congress called for a Joint Parliamentary Committee (JPC) probe into alleged scams involving Adani’s conglomerate. The party also demanded the appointment of a “new and credible” Sebi chief to investigate Adani’s financial dealings and compliance with securities laws.
ALSO READ- At 65.2%, Maharashtra records highest voter turnout since 1995 assembly election
Congress leader Jairam Ramesh said the US Securities and Exchange Commission’s (SEC) actions highlight the failure of Indian institutions to investigate the group. “The indictment vindicates Congress’s demand since January 2023 for a JPC into the Modani scams,” Ramesh wrote on X.
He accused Prime Minister Narendra Modi of shielding Adani and claimed Congress’s “Hum Adani Ke Hain Kaun” (HAHK) series had exposed the businessman’s alleged fraud and his ties with the PM.
The fact that it has taken a foreign jurisdiction to properly investigate Adani only shows how Indian institutions have been captured by the BJP, and how decades of institutional development have been undone by greedy and power hungry leaders, the Congress leader said in another post.
“All of this is consistent with a long record of fraud and criminality carried out with impunity with the obvious protection of the Prime Minister,” Ramesh charged.
Other Oppn leaders join attack
Other opposition leaders joined the attack. Trinamool Congress MP Saket Gokhale questioned the BJP’s involvement in Adani’s dealings and demanded an independent judicial probe.
Aam Aadmi Party leader Sanjay Singh accused PM Modi of allowing Adani to tarnish India’s global reputation.
ALSO READ- Adani Group shares plunge after US SEC charges, Adani Green down 16%
Adani stocks latest updates
The allegations rattled markets, with Adani Group stocks plunging. Adani Enterprises fell 20 per cent in pre-open trade, while shares of Adani Ports, Adani Green, Adani Power, and others dropped between 7 per cent and 18 per cent.
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