India's dream to host the Formula One Grand Prix is finally coming true. The F1 GP circuit that is being developed under the leadership of Jaiprakash Gaur, Chairman, Jaypee Group of companies, is fast nearing completion.
As Sachin Tendulkar waved the chequered pennant, flagging off India's arrival on the global map of Formula One racing, one could not but help see the symbolism: the success of private enterprise over the chequered reforms process that has now ground to a halt.
Talks between the Jaypee Group and the Aditya Birla Group for sale of the former’s cement units in Gujarat have reached the last lap and a decision is expected any time. The deal, if it fructifies, will result in the Birla's paying close to $800 million or Rs 4,357 crore for the units and help Jaypee Group retire its debt, the source said.
According to a India Ratings report, the Indian cement sector is set to witness large scale mergers and acquisitions as the industry is also attracting international interest. A case in point is the renewed talks between the Jaypee Group and the Aditya Birla Group for the sale of the former’s cement units in Gujarat.
If you thought the Grand Prix races were the only attraction at the recently concluded F1 championship, think again. The Buddh International Circuit, the venue for these races, also attracted its share of attention.