Cabinet approves 4-year moratorium on AGR dues, 100% FDI in telecom sector

The Union Cabinet has approved a four-year moratorium on payment of spectrum dues by telecom companies. The government has also decided to allow 100% foreign direct investment (FDI) in the telecom sector. The Centre has decided to rationalise the definition of Adjusted Gross Revenue (AGR). These measures are aimed at providing relief to companies such as Vodafone Idea and Bharti Airtel, who have to pay thousands of crores in unprovisioned past statutory dues. 

In other news, the Cabinet has also approved a Production Linked Incentive (PLI) scheme for the automobile and auto components sector with a budgetary outlay of Rs 25,929 crore. They have also approved a PLI scheme for the drone industry.

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Tata Consumer signs pact with IIMR to strengthen R&D efforts on millets

Tata Consumer Products (TCP) has partnered with the Indian Institute of Millet Research (IIMR)-Hyderabad to unlock the full potential of millets as a healthier and more sustainable alternative to traditional grains. The two entities will combine research and development (R&D) expertise and drive the innovation of millets. This partnership will help TCP strengthen its product portfolio in the area of millets. TCP has identified pantry and mini-meals segments as some of the key areas of focus in its growth strategy.

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Lupin launches generic Duexis tablets in the US

Lupin Limited has launched generic Duexis (ibuprofen and famotidine) tablets in the US market. The drug is used to treat symptoms of rheumatoid arthritis and osteoarthritis (inflammation or swelling of the joints). Duexis is also used to decrease the risk of developing upper gastrointestinal ulcers. According to IQVIA data, the generic version of the drug had sales of $765 million (~Rs 5,620 crore) in the US market for the 12-months ended July 2021.

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SpiceJet to launch 38 new domestic and international flights

SpiceJet Limited will start 38 new domestic and international flights between September 15-25. The airline has launched flights on the Delhi-Surat, Bengaluru-Varanasi, Mumbai-Jaipur, Mumbai-Jharsuguda, Chennai-Pune, Chennai-Jaipur routes. Spicejet will also resume flights to and from Dubai, connecting Mumbai, Delhi, Ahmedabad, Kochi, Kozhikode, Amritsar, and Mangaluru.

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USPTO approves Subex’s patent application that seeks to maximise revenue of telecom firms

The US Patent and Trademark Office (USPTO) has approved a patent application of Subex Ltd. The new patent extends the revenue maximisation capabilities of telecom firms, helping operators and subscribers to take proactive actions. Subex will set standards for telecom operators to identify monetisation opportunities. It will also help in detecting risks such as digital fraud to prevent damage before it occurs. Subex is a leading telecom analytics solutions provider.

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Dabur hikes prices of hair oil brands by 2-7.5%

FMCG major Dabur Limited has hiked the prices of its hair oils across brands by 2.3-7.5% within the past 1-2 months. According to sources in trade and distributors, the hikes have been seen in the Amla, Vatika, and Anmol Gold Coconut hair oil brands. The maximum retail price (MRP) of the 275 ml Dabur Amla hair oil bottle has been hiked by 2.9% to Rs 138, while the MRP of the 450 ml bottle is costlier by 5% at Rs 209. The price hikes come on the back of rising raw material prices, especially of crude oil and crude derivatives such as Light Liquid Paraffin (LLP).

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NCC declared lowest bidder for all 3 packages of Bangalore Metro’s Airport Line

NCC Limited was declared as the lowest (L-1) bidder to construct all three packages of Bangalore Metro’s 37 km Airport Line (Blue Line). The Airport Line will link Bengaluru’s Kempegowda International Airport (KIA) with KR Puram. The ORR-Airport Metro project will comprise two new metro lines (with a total length of 56 km) along Outer Ring Road (ORR) and National Highway 44— between Central Silk Board and KIA. It includes 30 new metro stations that will offer multimodal facilities, including bus bays, taxi stands, pedestrian walkways, and bridges.

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KNR Constructions receives LoA for order worth Rs 1,041.5 crore 

KNR Constructions Ltd has received a Letter of Acceptance (LoA) for an order worth Rs 1,041.5 crore. The order includes the development of a six-lane Chittor-Thatchur Highway in Andhra Pradesh and Tamil Nadu on Hybrid Annuity Mode (HAM). The project is expected to be completed within two years. KNR Construction will also be in charge of operation and maintenance for 15 years from the date of commercial operation.

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