German luxury car maker Mercedes-Benz India on Thursday said India has the potential to become one of the top five markets for its Maybach brand of cars in sales volume.

Launching the electric version of its first-ever all-electric Mercedes-Maybach in India, the company's managing director and CEO Santosh Iyer said the launch of the new car models—the Mercedes-Maybach EQS 680 SUV—manifests the firm's ambition to lead in digital and electric mobility with a focus on the ultra-luxury segment.

E-commerce platform Meesho on Thursday said it has enabled 8.5 lakh seasonal jobs within its seller and logistics network ahead of the festival season, mostly in tier-3 and tier-4 regions.

The government will soon roll out the much-awaited 'INDIAsize' initiative, which aims to establish standardised measurements designed to better suit the Indian body types, Union Textiles Minister Giriraj Singh said on Thursday.

Presently, international and domestic brands available in India use measurements from the US or the UK for garments, having 'small', 'medium' and 'large' sizes.

Commercial vehicle maker Ashok Leyland on Thursday said it has tied up with Bandhan Bank for vehicle finance.

The memorandum of understanding was signed between the entities to offer customised financial solutions to customers.

"This strategic partnership will strengthen the company's market position," Ashok Leyland CFO KM Balaji said in a statement.

Sales of ultra-luxury homes, costing over ₹40 crore each, in major cities till August this year stood at 25 units with a cumulative value of Rs 2,443 crore, according to Anarock.

Real estate consultant Anarock data showed that a total of 25 ultra-luxury homes were sold in Mumbai, Hyderabad, Gurugram and Bengaluru in the first 8 months of 2024 for a collective sales value of Rs 2,443 crore.

India and Singapore on Thursday elevated their bilateral ties to a "comprehensive strategic partnership" and signed four MoUs, including on cooperation in semiconductors, as Prime Minister Narendra Modi held talks with his counterpart Lawrence Wong.

Reserve Bank Governor Shaktikanta Das said on Thursday the fundamental drivers of the Indian economy are gaining momentum and the country is moving on a sustainable growth path.

In the inaugural address at FIBAC 2024, the governor said that massive changes are taking shape in various economic sectors and markets, and the country is geared for orbital shifts.

As part of a settlement with the US Department of Justice over a case involving the pricing of a generic drug, Glenmark Pharmaceuticals has agreed to pay $25 million.

Glenmark Pharmaceuticals Inc., USA, a wholly-owned subsidiary of the Mumbai-based drug maker, has agreed to pay the amount in six installments over five years, with interest on the settlement amount at a rate of 4.25% per annum from May 28, 2024, the company said in a late-night regulatory filing on Wednesday.

The Civil Division of the US Department of Justice has concluded its False Claims Act and Anti-Kickback Statute investigation in a settlement with Glenmark Pharmaceuticals Inc., USA, it said.

Passenger vehicle (PV) retail sales in India witnessed a 5 per cent on-year decline in August on account of delayed customer purchases, poor consumer sentiment, and persistent heavy rains, industry body Federation of Automobile Dealers Associations (FADA) said on Thursday.

The overall passenger vehicle (PV) registrations last month stood at 3,09,053 units, as compared to 3,23,720 units in August 2023.

Prime Minister Narendra Modi on Thursday met his Singapore counterpart Lawrence Wong, and the two countries signed four MoUs.

Modi is here on a two-day visit at the invitation of Wong.

The meeting between the two leaders comes days after Wong took over and Modi began his third term as prime minister.