UK to fund Gift City development

27 Nov 2020 CW Staff

The UK has formed a strategic partnership to develop GIFT City, a fledging international financial services centre. The UK has set up a new Fund of Funds to route its future capital investments into India. The State Bank of India manages the Fund of Funds.

The new infrastructure finance and policy partnership signed by India and the UK will help to execute investments worth 1.4 trillion in National Infrastructure Pipeline. The agreement was signed at the tenth Economical and Financial Dialogue (EFD) by finance Minister Nirmala Sitharaman and UK’s Chancellor Rishi Sunak.

Mr Sunak said that the bilateral partnership between India and the UK would lead the way for the global recovery of the economy. He further stated that they are working on other initiatives to build trade infrastructure, sustainable finance, and research. The partnership to develop the GIFT City is also a part of the initiative to increase the international capital flow from London to India.

A joint statement by leaders of the two countries said that the collaboration between India and UK would speed up the development of India’s first financial services centre, the GIFT City (Gujarat International Finance Tec-City). More significant links will be formed between the Indian and the United Kingdom’s governments by bringing together the GIFT City and UK’s financial services ecosystem.

The UK will support India’s Infrastructure Pipeline, under the infrastructure partnership signed by the countries. The UK will share with India its experience, knowledge and provide technical assistance to India’s National Infrastructure Pipeline, which includes setting up a Project Preparation Support Facility-cum-Centre for Excellence for PPP Projects.

India and the UK are also establishing a new Sustainable Finance Forum to mobilise private capital for green investments.

Infrastructure Transport

11 May 2026

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..