UAE-based retailer LuLu Group  plans  to  build  what it  calls  India’s  largest  shopping mall, in Ahmedabad,  at  an estimated cost of ₹4,000 crore. 

  Construction of  the proposed shopping mall will  begin  in  2024,  said Yusuff Ali MA, Chairman and Managing  Director,  Lulu Group International,  while speaking  to ANI on the sidelines of the  Vibrant  Global Summit.  Gujarat is happening.  

 A miniature  painting was displayed  at the UAE  stand  in Vibrant Gujarat. 

  “Construction of  India’s  largest  shopping mall will  begin  and  this  is a  scaled-down (model),” Ali said. Construction  will  begin  this  year.”  In September 2023, Yusuff Ali  proposed  that his  team would  set up two  major  shopping malls in  India,  in Ahmedabad and Chennai. 

  “We  will build  one of the  biggest  malls in Ahmedabad and Chennai and we  will open a  mall in Hyderabad  by the  end of this month.  We will also go  to different states  to build malls  shopping  and food  processing center,”  

 Currently, it has malls in six Indian cities  –  Kochi, Thiruvananthapuram, Bengaluru, Lucknow,  Coimbatore  and Hyderabad being the  newest ones.  

 Lulu Group, headquartered in Abu Dhabi,  United Arab Emirates, is  known as a  pioneer  in the retail  sector  in the Middle East and North Africa region. It operates  more than  250 hypermarkets and  hypermarkets  and is  extremely  popular with discerning shoppers  in  the GCC, Egypt, India,  Indonesia  and Malaysia.  Lulu Group employs more than  65,000 people  from 42 different  countries  and has  annual  revenue  of  $8  billion globally. 

  For more  information,  visit at https://happenrecently.com/zepto/?amp=1

 In other key onion producing districts  like  Pune, Ahemadnagar and Solapur, mandis prices are currently  around Rs  1,800 – 1,900 per quintal.  

 Despite reports of  plummeting  onion prices  in major markets,  the government is taking a cautious  approach and taking  no immediate  steps  to lift the  export  ban  imposed  on  the key  vegetable. booked  last month. 

  Official sources  said  there was  a recent  assessment of  the  domestic  onion supply situation and  there was a consensus that lifting the ban on onion exports was not feasible under the current circumstances. 

 “We are closely assessing the supply situation and onion prices,”  an official said. With the  arrival  of kharif  crop,  mandi prices  in  Lasalgaon, Nasik, Maharashtra, the  country’s  wholesale trade  hub, fell  to  Rs  1,500-1,800 per quintal  on  Thursday,  from around Rs  3,700 to  Rs  4,000 per quintal. before.  prior to the imposition of  the shipping  ban announced  from  December 7  to  March 31, 2024.  In other key onion producing districts  like  Pune, Ahemadnagar and Solapur, mandis prices are currently  around Rs  1,800 – 1,900 per quintal.  A trader said that  due to  the  high  humidity of the kharif onion crop, it cannot  be  preserved, and  the  quantity of goods arriving is increasing, causing prices to decrease.  

Farmers and traders  are  demanding  that the export  ban  be lifted  so that prices do not  fall.  

  “Mandi  prices have  come down  sharply and the current  price is  below the cost of production for  farmers,”  said  Balasaheb Misal, former  director of the Mandi Board of  Manmard (Maharashtra)  and an onion  grower.  

 According to the  ministry,  the modal retail  price  of  onions fell  by  33 per cent  to Rs  40 per kg  on  Thursday, compared to  Rs  60 per kg  on December 8 when  the export  ban  was announced.  

 Retail onion inflation rose  86.46% in November as retail prices in  some  cities touched Rs  90 per kg  last month  due to delayed  kharif  harvest  and  unusual  rains  affecting  the  crop planning  in Maharashtra and Karnataka.  Onion inflation,  which  has  been  negative  since  September  2021,  reached  23.18% in August. In  February  2020, onion inflation  reached  140%  year-on-year. 

  Government  agencies –  Nafed  Agricultural Cooperatives  and  India’s  National  Consumer  Cooperative  Federation  (NCCF)  have so far  procured 20,000  tonnes  of kharif onions  against  the  target of 0.2 million  tonnes  (MT)  further The government’s  decision to increase  the  buffer stock target  to  0.7 million  tons continues.  from 0.5  mt  for the current  financial year.  

 The estimated  onion  production  in  2022-23  (July-June) is around 31.8 MT  as  against 31.7 MT reported in the previous year.  

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 Jefferies  revealed  that  as of December 23,  retail  annual premium equivalent  (APE) growth  had improved significantly,  reaching 9%  year-on-year,  compared  with 4%  combined  in  October and November. 

  In a recent  Jefferies  report  on  insurance  companies, HDFC Life and SBI Life  emerged as the top picks in the insurance sector. The report sheds light on the overall performance of life insurance companies,  focusing on  key  insurers  and their growth  trajectory.  

 According to Jefferies, HDFC Life and SBI Life are  standout  picks  in the insurance  space, reflecting  confidence in their future performance. 

  The report  looks at  the  performance of life insurance  premiums in December 2023,  noting  notable  growth  growth. Jefferies  revealed  that  as of December 23,  retail  annual premium equivalent  (APE) growth  had improved significantly,  reaching 9%  year-on-year,  compared  with 4%  combined  in  October and November. 

  Private  insurers  continued to outperform the market, with  overall growth in premium equivalent  (OPF)  of +11%  year-on-year,  gaining market share  to  the  detriment  of LIC (+2%). Among  listed companies, SBI Life  stands  out with a  strong  comeback,  recording  20%  ​​year-on-year growth.  

 While some companies  are experiencing  strong growth, others  are experiencing  a slowdown. Max  Life’s  growth slowed to  15%  and ICICI  Prudential’s  growth was recorded at 13%, compared to 8% in the combined months of October and November.  HDFC Life  faces a notable challenge,  marking  its  weakest performance with a  rating of 5%  in  December 2023.  

 The report highlights the impressive growth of unlisted  companies  such as Bajaj,  Tata  and Birla, with growth rates of 20%,  17%  and 10%  respectively over the same period last year.  

Below  are  Jefferies’ key recommendations in  the  insurance  sector

 HDFC Life Insurance:  ‘BUY’ rating  for  target  Rs 1,990,000,800 crore  

 SBI Life Insurance:  “BUY” rating targets  Rs.  1,990,000,1700  

 ICICI Lombard General Insurance:  “BUY” rating  for  target of  Rs 1,990,000 crore. 5:30 p.m  

 ICICI Prudential Life Insurance:  “BUY” rating  for  target of Rs.  1,999.  630 

  Maximum  Financial Services:  “BUY” rating  for  target of Rs.  1,990,000,1200  

 For more  information,  visit at https://happenrecently.com/zepto/?amp=1

 Rajnath Singh arrived in the UK on Monday  evening. This current  visit is the first by  an  Indian  defense  minister to  the UK  in 23 years.  

 London: 

 Citing a recent article published in  China’s  Global  Times praising  India’s growth  and  growing global  stature and  influence,  Union  Defense  Minister Rajnath Singh on Wednesday said Beijing’s perspective has  changed significantly  with the emergence of New Delhi as a  “strategic power”. 

  “A  columnist for the Global Times,  who  is  sort of  a mouthpiece for China, published an article  titled  ‘What I  See About India’s  Bharat  Story’.  This article is a  resounding confirmation  of  China’s  changing  stance towards  India.  .  It seems  that  the Chinese government has  gradually accepted  that our economic and foreign  policies and growing  strategic  interests  have helped Bharat  become  a key global economic  and  strategic power.  bridge.  We  do not consider  anyone  our  enemy,  but the world  knows  that the relationship between India and China is currently  tense.  

 However, we  look forward  to  developing  good  relations  with all our  neighbors  and  with all  countries  around  the  world,”  Singh said in London on Wednesday.  that the Chinese government now  admits  that India cannot be ignored  globally.  

  “The author  also  notes  that the Chinese government now accepts that whether you like Bharat or not, our  growing global  image and  standing can  no  longer be ignored. Previously, when  discussing the issue of  trade  imbalance,  India  relied  on Beijing to  minimize the  trade  imbalance  between the two countries. 

However,  this  trend is no longer  fashionable,”  the BJP leader added. 

  Expanding on the country’s  growing  global standing,  Mr.  Singh  said: “I credit  the courage shown by our jawans during the  clash  with  the  Chinese  army in  Galwan  (Arunachal Pradesh valley) ) has contributed to changing  Beijing’s  stance towards  Bharat. We are no  longer  a weak  country. In  the eyes of the  world: we  are a rising global power. Ab aisa nhi hai ki Bharat ko ankh dikha ke jo chahe so nikal  Jaye  (No  one  can  show us  red eye and get  rid of it anymore).  

 Earlier this month,  Global Times  praised  India’s economic  policy  and diplomatic achievements over the past four years under the leadership of Prime Minister Narendra Modi, in a column titled  “Bharat Narrative”. He said  New Delhi’s strategic thinking  on  “foreign policy has evolved, moving towards a great power  strategy”.  

 The  editorial,  written by Zhang Jiadong,  director of the  Center  for South Asian Studies at Fudan  University in  Shanghai, also  highlighted  India’s  “remarkable achievements” in all key  fields and  sectors. closing in  the past  4  years.  

 It also  noted strong  economic growth, improvements in urban  management  and  changing attitudes  towards international relations,  especially  with China.  The author  adds  that with  rapid economic and social development, India has become more  confident and  strategically  proactive in creating and developing a ‘Bharat narrative’.  “In  the  realm of politics  and  culture,  India has moved from  emphasizing  democratic consensus with the West to  the  ‘Indian character’  of democratic  politics,” he added. Today,  there is even more emphasis on  India’s  democratic  political roots.” Global Times’  rare  recognition  of India’s  progress  and  Prime Minister  Modi’s strategic vision  speaks to  growing recognition of New Delhi’s  growing  global influence and the implications of its  stance. the country’s assertiveness in  the international  context. Earlier  on Wednesday,  Mr.  Singh  visited British  Prime Minister Rishi Sunak in London.  Rajnath Singh arrived in the UK on Monday  evening. This current  visit is the first by  an  Indian  defense  minister to  the UK  in 23 years. 

  Mr.  Singh  was  accompanied by a high-level  delegation from the  Ministry of  Defense, including  senior officials  of  the  Defense  Research and Development  Organization  (DRDO),  Services  Headquarters,  Ministry  of  Defense  and  Ministry  of  Defense  Production.  

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