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Major News and Events of 17 July 2014

What Happened on 17 July 2014

Volkswagen plans for cost cutting to lift sales in India

Volkswagen AG has decided to increase the quantity of the locally-made parts of its cars in India. The auto company has taken this step to cut costs in the making of the cars to boost its sales in the Indian market. Volkswagen entered the Indian market five years ago, but managed to get only 2.1% share in the auto market as its cars are relatively expensive. It plans to build engines and gearboxes locally and increase the local content level in its cars to about 90% from the current 65-70%.

Two arrested at Mangalore airport for illegal transportation of gold

A parking attendant and a housekeeping staff were arrested at the Mangalore international airport for being a part of a racket involved in illegal transportation of gold. As per the Directorate of Revenue Intelligence (DRI), a passenger had dropped a few pieces of gold in the toilet pipe near the Immigration counter. The sleuths for DRI rushed to the toilet and arrested the housekeeping staff red-handedly holding the gold bar weighing 1.23 kgs. The parking attendant was also arrested later. The DRI officials said that they were investigating the alleged links between the accused persons and smugglers in other countries.

Xiaomi launches three handsets in India; challenges Indian smartphones

Xiaomi, the leading Chinese smartphone maker has put a challenge before the Indian smartphone makers. The company has launched three handsets, namely Mi 3, Redmi 1S and Redmi Note, which are priced at  Rs. 13,999, Rs. 6,999 and Rs. 9,999 respectively, much lower than the Indian smartphones. In the current fiscal year, the company is expecting to sell around 70 million handsets in India. The phones will be available only on the ecommerce retailer Flipkart.

Kejriwal seeks an appointment with Delhi LG

Arvind Kejriwal, Aam Aadmi Party (AAP) leader, sought an appointment with the Lt. Governor of Delhi, after the BJP’s indication that the party may form a government in Delhi. He tweeted: "I have sought an appointment from LG for all AAP MLAs to meet him today. Waiting for his response." He also questioned whether Najeeb Jung should invite BJP, which had earlier rejected to form the government in Delhi.

Dhoni: Anderson crossed the lines

The controversy that raged over alleged altercation between James Anderson and Ravindra Jadeja gained momentum when Indian cricket team captain, Mahendra Singh Dhoni said that Anderson crossed the line by making a physical contact with Ravindra. He also said that he was happy with the way Jadeja managed the entire situation and did not retaliate at the scene.   

US Secretary of State and Defence Secretary to visit India soon

Top diplomat of the US and its Defence head will visit India soon seeking improved relationships as a counterbalance in Asia. John Kerry, Secretary of State, will be representing the US during the session of Strategic Dialogue to be held with India and is scheduled for July 31. Defence Secretary Chuck Hagel will follow Kerry in early August. They will be visiting India to have talks with India PM, Narendra Modi. Modi is also expected to visit the US in the month of September.

Tata invests Rs. 470 crore in Shriram Properties

A private equity arm of Tata Group, Tata Capital has invested $80 million (Rs. 470 crore) in Shriram Properties. The investment is equal to about 15% stake in the company. Shriram Properties is a real estate unit of $12 billion conglomerate Shriram Group based in Bangalore. M. Murali, MD of Shriram Properties said “With Tata on board, it positions Shriram Properties favorably for an IPO in the near future". The firm has an excess cash reserves of Rs. 400 crore and is under no debt.

Smriti Irani: Telangana will have more higher education institutions

Human Resource Development Minister Smriti Irani said that the government shall initiate steps to set up more higher education institutions in Telangana and Andhra Pradesh. Irani, while giving a written reply to the Lok Sabha, said that according to the Andhra Pradesh Reorganisation Act 2014, steps should be taken by the government to establish institutes such as Indian Institute of Management (IIM), Indian Institute of Technology (IIT), National Institute of Technology (NIT) in Telangana. She also added that many more universities are also proposed in the state, but budgets for these institutions are not yet finalised.

Om Prakash Kohli is the new Gujarat Governor

Om Prakash Kohli was sworn in as the new Governor of Gujarat on Wednesday. The ceremony was held in Gandhinagar and was administered by Gujarat High Court Chief Justice, Bhaskar Bhattacharya. Also present at the ceremony were Gujarat CM Anandiben Patel, Vidhan Sabha Speaker Vajubhai Vala and other Ministers of the State Cabinet. Kohli is a former member of the Rajya Sabha and a veteran leader of the Bharatiya Janata Party (BJP).


FAQs and Answers on Indian History and Geography
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