US-based coffee chain Starbucks and India’s Tata Group today announced an equal joint venture to open 50 cafes in the country in the first year of operations entailing an investment of Rs 400 crore (Rs 4 billion).
Beverages Vice-Chairman R K Krishnakumar told reporters at a joint press conference in New Delhi.
Tata Global Beverages signed a joint venture agreement with the US-based coffee giant, which sets forth the vision of developing the business here. Each party will hold 50 per cent in the JV.
Courtesy : Jehangir Bisney
Fereshte Sethna was part of the legal team that represented Vodafone Group Plc during its successful appeal in the Indian Supreme Court of a government tax demand. The apex court’s ruling in favor of Vodafone earlier this month spared the British telecommunications giant of having to pay a tax bill of more than $2 billon on the deal it struck in 2007 with Hong Kong’s Hutchison Whampoa to enter India. The decision, which said India doesn’t have authority to tax the deal because it was between offshore entities – a Dutch subsidiary of Vodafone and Cayman Islands subsidiary of Hutch – laid down some important long-term precedents for Indian tax law and provided more clarity for potential foreign investors.
Lord Karan Bilimoria, the founder of the famous brand Cobra beer in the UK, is a prominent British personality. He has maintained close links with India. In this interview with P.T. Thufail, he speaks of investment prospects for overseas Indians and their strong interest in charity, education and health in India
The man who will head a group synonymous with Indian industry is an Irish national and shares his birth date (July 4) with the US Independence Day. But in many ways, he resembles the business giant he has been handpicked to succeed. Like Ratan Tata, Cyrus Pallonji Mistry, 43, is described by close friends as soft-spoken, candid and down to earth.
