Inquiry revealed Myntra Designs Pvt Ltd allegedly received Rs 1,654 cr funding through FDI in Wholesale Cash & Carry category but was doing business in Multi Brand Retail Trade category.
The agency said that it stumbled upon the transactions of the company during an ongoing money laundering probe into the ‘Chinese-owned’ illegal online betting applications.
For an industry globally classified as hazardous, protections such as health insurance and a provident fund for workers are necessities. In Sivakasi, they remain elusive.
The industry forecasts exports are set to grow 16% in 2025-26, boosted by surplus domestic production and a drive to push into 26 underserved global markets with strong potential.
Indigenisation level will progressively increase up to 60 percent with key sub-assemblies, electronics and mechanical parts being manufactured locally.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
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