Escorts Kubota cancels a new unit at Ghiloth in Rajasthan

21 Jun 2024 CW Team

Escorts Kubota Ltd. announced that it has decided to withdraw its plan to establish a new manufacturing plant at Ghiloth in Rajasthan. The company cited the reason for this decision as its inability to fulfil all the essential requirements necessary for a large-scale project. Escorts Kubota Ltd., which has planned an investment of up to Rs 45 billion over the next three to four years for the establishment of a new manufacturing plant, stated that it remains in discussions with other states, including Rajasthan, to explore alternative options. The company had submitted an Expression of Interest (EOI) to Rajasthan State Industrial Development and Investment Corporation (RIICO) for the proposed acquisition of land in Ghiloth, Rajasthan. This was subject to obtaining the necessary approvals and clearances for setting up an integrated greenfield manufacturing facility to expand its existing capacities, as mentioned in its regulatory filing. According to the regulatory filing, "After a detailed assessment of the location, the company has concluded that the site does not meet all the key requirements necessary for the planned large-scale project. Consequently, the company has withdrawn the aforementioned expression of interest." One of the primary reasons for withdrawing the Expression of Interest, as stated in the filing, was the state government's inability to guarantee sufficient industrial water supply for the project. Nonetheless, Escorts Kubota Ltd. reaffirmed its commitment to establishing an integrated greenfield manufacturing facility in accordance with its Mid-Term Business Plan (MTBP). The company expressed its ongoing exploration of alternative options with various states, including Rajasthan.

Infrastructure Urban

13 Oct 2025

Daikin Boosts Haryana’s Innovation Push with Rs 10 billion R&D Plan

Japanese multinational Daikin Industries has committed an investment of Rs 10 billion to set up a new research and development centre in Haryana. The proposed facility will focus on advanced technologies and sustainable industrial solutions, marking a significant boost to the state’s innovation and industrial ecosystem. The announcement follows the signing of a Memorandum of Understanding (MoU) in Osaka, Japan, during a visit by a Haryana government delegation held from October 6 to 8. The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Industries and Commerce Department, ..

Lloyds Metals to Build Rs 250 billion Steel Plant in Gadchiroli

Lloyds Metals & Energy Limited (LMEL) has announced an investment of Rs 250 billion aimed at transforming Gadchiroli in Maharashtra from a region once associated with the red corridor into a key industrial and growth hub. The company’s plans are centred on establishing an integrated steel production ecosystem, which will contribute significantly to regional development and employment. As part of its expansion strategy, LMEL is setting up a 4.5-million-tonne blast furnace in Gadchiroli, scheduled for completion by 2027–28, along with another 1.2-million-tonne facility in Chandrapur by 2029..

UPI Crosses 500 Million Users, Fuels MSME and Digital Growth

The Unified Payments Interface (UPI) has achieved a new milestone, surpassing 500 million consumers and 65 million merchants across India. The platform, developed by the National Payments Corporation of India (NPCI), has expanded its reach to nearly 99 percent of the country’s pin codes, underlining its deep penetration into both urban and rural markets. According to a report by NPCI and the Boston Consulting Group (BCG) launched during the Global Fintech Fest 2025, UPI has evolved from being a digital payments mechanism into a key enabler of financial inclusion and small business growth. I..