These are the top 5 business stories of the day.
1) Budget 2016: Expect govt to ramp up public healthcare spending, says Kiran Mazumdar Shaw
Chairman and Managing Director of Biocon, Kiran Mazumdar Shaw wants Finance Minister Arun Jaitley to ramp up public spending in the healthcare sector to push growth and address the challenges faced by the industry in India. She said that the Budget should also look at creating an environment that will attract investments in research and development.
“I would like to see the forthcoming budget by FM Arun Jaitley, addressing the burgeoning healthcare challenges of India by ramping up the public healthcare spending from the current abysmal 1% level to a more credible 2% of GDP,” Mazumdar Shaw told dna. Read more here.
2) FDI in India growing at 38% despite global slowdown: Nirmala Sitharaman
Foreign direct investment in India has been growing at a steady pace of 38% despite an overall slowdown in the world’s economy, Commerce and Industry minister Nirmala Sitharaman said at the curtain raiser of the Make in India week in Mumbai.
“FDI in the world is falling (-16%); India is the only country where foreign investments are growing,” she said.
While speaking at the curtain raiser ceremony, also attended by Maharashtra Chief Minister Devendra Fadnavis, Sitharaman said, “Make in India is not only a program, it is an initiative.” She hailed the initiatives taken by Prime Minister Narendra Modi to make ‘Make in India’ successful and also appreciated the work done by Fadnavis in the state. Read more here.
3) Tata Housing to develop new project in Goa for Rs 400 crore
Tata Housing will invest about Rs 400 crore over the next three years to develop a mid-income housing project in Goa as part of its strategy to tap the rising demand for second homes.
This is the second project that the Tata group firm will be developing in Goa. About 7-8 years ago, it had developed a luxury project comprising 65 villas.
The company will develop about 650 housing units on a 7-acre land parcel in Goa. Read more here.
4) Bajaj Auto reveals idea behind the ‘V’ motorcycle forged from recycled INS Vikrant’s steel
This is a bike that will truly live up to its name. On February 1, a few days before Auto Expo 2016, two-wheeler giant Bajaj Auto launched its much-awaited bike, the Bajaj V. The motorcycle has been christened ‘invincible’ because it was forged from the metal of the INS Vikrant, one of India’s best-known warships.
After India’s first aircraft carrier – a hero of the 1971 Indo-Pak war – was decommissioned, the metal was used to make the V. Read more here.
5) Ratan Tata invests in B2B marketplace Moglix
Leading industrialist Ratan Tata has invested in Moglix, an e-commerce company specialising in B2B procurement of industrial products, continuing his slew of investments in startups across the world.