As the week unfolds, India’s corporate landscape sees a mix of promising ventures and challenges. Gig workers might soon enjoy enhanced benefits, while major tech giants like Samsung and Apple further their commitment to India’s manufacturing prowess. The Adani Group remains in the limelight with potential foreign investments and stock market movements. Amidst these developments, the food industry faces its own set of challenges with rising inflation. Let’s delve into the week’s highlights.
Gig Workers’ Welfare on the Horizon
India is gearing up to introduce welfare measures for gig workers associated with platforms like Amazon, Uber, and Zomato. These provisions, in line with the Social Security Code of 2020, may encompass health, accident, and retirement benefits. Read the full article here.
Samsung’s Manufacturing Milestone
The Indian government is set to award Samsung Electronics a significant ₹600 crore under the production-linked incentive (PLI) scheme, bolstering domestic manufacturing. Read the full article here.
Apple’s Production Prowess in India
Foxconn has initiated the production of Apple's iPhone 15 in Tamil Nadu, marking Apple’s continued commitment to diversifying its manufacturing base. Additionally, the production of AirPods is also on the horizon. Read the full article here.
Adani Group’s Week of Highs and Lows
The Adani Group has been a focal point this week. SEBI seeks an extension for its probe into allegations by Hindenburg Research. Meanwhile, Abu Dhabi National Energy Co. PJSC (TAQA) contemplates a significant investment in Adani’s power businesses. The conglomerate however has denied that it is involved in discussions with TAQA. The week concluded with the Adani stocks ending on a positive note. Read the full article here.
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Burger King’s Tomato Woes
With food inflation on the rise, Burger King has opted to exclude tomatoes from its offerings, a decision echoed by other major chains like McDonald's and Subway. Read the full article here.
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