Tata Global Beverages to sell its Russian business to Skodnya Grand
The Dollar Business Bureau Indian multinational Tata Global Beverages Ltd (TGBL) said on Thursday that it will sell its Russian business to a local company as part of its strategy to restructure operations in Russia. The amount of the deal has not been disclosed by the company. TGBL, a Tata Group subsidiary, has signed an agreement to transfer operational responsibilities and ownership of its business unit in Russia to Skodnya Grand Ltd, TGBL said in a statement. The deal also includes granting a 5-year renewable license pact for its brands in Russia to Tea Trade LLC, after the transaction has been completed, it added. The deal is likely to be concluded with the next in 3-4 months, subjected to the regulatory approvals, the company ...
Rupee devaluation may not boost exports: RBI Governor
Sharath Chowdary Devaluation of the rupee may not boost exports from India. But in all likelihood, it will have an inflationary impact offsetting any benefit to the country’s economy. The current value of rupee is pretty reasonable, the Reserve Bank of India Governor Raghuram Rajan said. This was in reply to a question posed by The Dollar Business Bureau, if there was any need to devaluate the rupee to increase exports from the country, given the current scenario of global economic slowdown. Detailing the side effects of rupee devaluation, he said, “Currency is a complicated animal. Inflation will pick up in the country due to devaluation. Cheaper prices may allow exporting more but it also makes imports costlier. We need to pay ...
'Falling inflation and rupee depreciation will boost exports'
The Dollar Business Bureau Govt was urged to continue Rupee Export Credit Interest Rate Subvention Scheme’ for selected sectors to encourage domestic MSMEs India’s export competitiveness has been eroded because of the steady real appreciation of rupee, said an ASSOCHAM study, while recommending steps to encourage domestic MSMEs and revive falling exports. Global experience shows that 10-15% real devaluation could be a shot in the arm for an export surge, while a real devaluation of the order of around 10% through a combination of falling inflation and allowing rupee to depreciate may provide much needed boost to exporters,” said ASSOCHAM in a study. In the study-‘What’s behind India’s Declining Exports’, the Associated Chamber of Commerce and Industry (ASSOCHAM) urged the ...
