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Auto industry bodies recommend incentivising enhanced domestic value-addition, localisation SECTIONS Last Updated: Mar 05, 2021, 02:38 PM IST Share Synopsis In their presentation, Ayukawa, who is also the MD & CEO of Maruti Suzuki India Ltd and Kalyani, the Chairman & MD - Bharat Forge Ltd, said the aspiration of the sector is to achieve two-fold growth in exports by 2025-26 with automobile manufacturers achieving exports of USD 19 billion and auto component makers touching USD 30 billion. Agencies Automobile and auto components industry bodies SIAM and ACMA on Friday recommended incentivising enhanced domestic value-addition and localisation to leverage on the USD 25 billion import substitution opportunity but said the production linked incentive (PLI) scheme should not cannibalise existing exporters by incentivising new players. In a presentation at the PLI event organised by Department for Promotion of Industry and Internal Trade (DPIIT) and Niti Aay ....
(Bloomberg) PT MNC Vision Networks Tbk is in talks to merge Vision+, its streaming television business known to consumers as the “Netflix of Indonesia,” with blank-check company Malacca Straits Acquisition Co., according to people with knowledge of the matter.In addition to Vision+, known as an over-the-top or OTT media service, MNC Play, an Indonesian broadband and TV box provider that’s also part of MNC Vision Networks, is set to be included in the transaction, said some of the people, who asked not to be identified because the matter is private. MNC, controlled by Indonesian tycoon Hary Tanoesoedibjo, is poised to roll its equity into the transaction, making it the largest shareholder of the combined entity, they said.Malacca Straits has begun discussions with investors including Ray Zage’s Tiga Investments as it seeks to raise $50 million or more in new equity to support a transaction that’s set to give the combined company an enterprise value o ....
Indonesian tycoon HaryTanoesoedibjo, a business partner of former U.S. presidentDonald Trump, launched on Monday construction on a movie studioas part of a tourism complex on Java island that is set toreceive tax breaks. Lido City is the umbrella project located around 60 km (37miles) south of the capital Jakarta in the Bogor area, where theTrump Organization will operate luxury villas, a resort and agolf course. The project has been designated a special economic zone(SEZ) for tourism, which means it can benefit from corporate taxcuts, luxury goods sales tax cuts and get some leniency onpermits, PT MNC Studios International said in a statement. ....