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Nippon Life India Acquires Commercial Spaces worth Rs 4.8 bn

In a strategic expansion move, Nippon Life India Asset Management has acquired two premium commercial properties at One Lodha Place in Mumbai's Lower Parel locality, for a combined value of Rs 4.8 billion, according to IGR documents reviewed by Square Yards. Lower Parel is a major commercial suburb of Mumbai known for its premium office spaces. The locality is situated near international airport, the Eastern Express Highway and the Bandra-Worli Sea Link, providing excellent connectivity to other parts of the city. One Lodha Place is ready-to-move commercial project developed by Lodha Group (M..

Gujarat’s Low Utilization of Central Funds for MSME Development Raises Concerns

Despite being a leading state for micro, small, and medium enterprises (MSMEs), Gujarat has been criticized for its poor utilization of central government grants meant for MSME development. According to official data, Gujarat received Rs 5 crore for preparing a Strategic Investment Plan (SIP) and Rs 47.06 crore under the Raising and Accelerating MSME Performance (RAMP) program from the central government. These programs, launched by the Prime Minister on June 30, 2022, are aimed at scaling MSME operations and fostering innovation. As of June 30, 2024, Gujarat has utilized only Rs 0.66 crore o..

UP Approves Industrial Parks in Saharanpur and Moradabad

The Uttar Pradesh government approved two new private industrial parks under the PLEDGE scheme. These parks, located in Saharanpur and Moradabad, are expected to provide a significant boost to the state’s MSME sector by supporting local industries and generating new employment opportunities. The PLEDGE scheme, launched in January 2023, supports investors by offering a loan of Rs 50 lakh per acre of land at a fixed 1% interest rate. Investors are responsible for developing the internal infrastructure and marketing the industrial plots. They repay the loan through the sale of plots, which als..