CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
The US is set for a geographically limited 5G rollout this Christmas, after a bumper $81 billion spectrum auction earlier this year. Just as the rollout date nears, the US Federal Aviation Administration (FAA) has sounded alarm bells over potentially fatal consequences of 5G interference on aircraft. Similar consequences could apply in India, where 5G spectrum auction is scheduled in January 2022, with the rollout beginning later next year (though reports suggest impending delays).
European aircraft maker Airbus Industrie is in talks with flag carrier Air India for sale of up to 12 superjumbo A-380 planes, as it looks for a greater presence in the world's fastest growing civil aviation market. The long range aircraft can enable an airline to fly to Delhi-Los Angles or Delhi-New York non-stop.
Foreign Secretary S Jaishankar will be summoning US Ambassador Richard Verma to convey India's "displeasure".
Air India Express along with SpiceJet and Jet Airways is one of the three main targets for Boeing in the country as it promotes its new 737 MAX aircraft, which is scheduled to enter commercial operations in 2017.
The Auto Component Manufacturers Association of India on Wednesday sought reduction in GST rate to a uniform level of 18 per cent for the entire automobile industry to stimulate demand and help save around 10 lakh jobs, which are at risk due to prolonged slowdown in vehicle sales.
The government's programmes should be expected to generate some momentum, but the macro-economic numbers are not encouraging, observes T N Ninan.
The complaint was lodged by Mumbai-based Express Industry Council of India, which represented major express courier and cargo companies such as DTDC, Aramex India, Blue Dart, DHL Express, GATI and First Flight.
The MiG-35 is Russia's most advanced 4++ generation multipurpose fighter jet developed on the basis of the serial-produced MiG-29K/KUB and MiG-29M/M2 combat aircraft.
What explains India's love affair with SUVs? They are not exactly "value for money" -- the watchword for brands across segments -- nor always practical. Is it for the badge value? Or the butch imagery associated with SUVs? Maybe both, says Alokananda Chakraborty.
Raghu Menon, CMD of National Aviation Company of India (Nacil), had said last year that more than 70 per cent of the merger process would be completed by the end of FY09.
What technologies do you fancy in your new car? Here are some popular cars in India with the most sought after technologies.
Kiran Rao, company's executive vice-president for sales, marketing and customer affairs, also said that government-owned Air India and private carriers Jet Airways and Kingfisher Airlines will create a niche in the global market due to their quality service in the next few years despite stiff international competition.
The industry is expecting double-digit growth on a year-on-year basis, helped by a possible price correction after softening of raw material inputs and factors such as positive sentiments, pent up demand and improving economic conditions. Besides, a shift in consumer behaviour from price consciousness towards technologically advanced premium products with quality, value proposition and safety aspects leading to a rise in demand for home automation products is making the industry upbeat. With the government's production linked incentive (PLI) scheme for white goods, which has witnessed a committed investment of Rs 4,614 crore, in place, many manufacturers are gearing up to make the most out of the opportunity as well as take steps towards reducing their dependency on imports and make products more affordable.
GST impact: Higher lease payouts may hit airlines, cab aggregators.
US private equity firm I Squared Capital is dropping out of the race to buy India's second-largest state oil firm, Bharat Petroleum Corporation Ltd (BPCL) owing to a complex deal structure and lack of financial backers for the transaction, sources said. I Squared Capital through its Indian arm, Think Gas was among the three suitors that had evinced interest in buying the government's near 53 per cent shareholding in BPCL. "The company has made a decision not to participate in the financial bidding," a source with direct knowledge of the development said.
Ten years after Kingfisher Airlines was grounded, its former employees continue to wait for their dues. On Monday, the Supreme Court awarded a four-month sentence to the grounded airline's flamboyant owner Vijay Mallya in a contempt case. The apex court also ordered him to deposit $40 million plus interest in four weeks to avoid attachment of his properties.
Metal prices from copper to aluminum and tin have shot up by about 7-32 per cent in the past three months.
Firms are offering employees flexi hours; demand for air purifiers, masks have skyrocketed.
$1 billion worth of naval guns will be used against warships, anti-aircraft and shore bombardment.
No-frills airline SpiceJet on Wednesday launched yet another round of limited-period low fare offers to fill its seats for travel between July and September when air travel generally slumps.
A chunk of divestment till now has come from follow-on offerings in the Centre's two ETFs, Bharat-22 and CPSE. Now, there will be initial public offerings of Mazagon Docks, rail companies RVNL and IRFC and MSTC.
While presenting her 2021-22 Union Budget, Finance Minister Nirmala Sitharaman had set a fiscal deficit target of 6.8 per cent of nominal gross domestic product (GDP) against the 2020-21 Revised Estimate of 9.5 per cent. The fiscal correction in the upcoming 2022-23 Union Budget is unlikely to be that steep. Even as discussions among top Budget-makers are ongoing, the fiscal deficit target for 2022-23 may likely be in the range of 6.5-6.8 per cent.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
Fifty-nine per cent of reserved tickets on Indian Railways are now booked online.
They have also urged the Obama administration to review its decision in this regard.
Colourful lights illuminated buildings and earthen lamps dotted houses as people across the country celebrated Diwali with pomp on Monday after two years of muted festivities due to the pandemic.
The selection of Dassault's Rafale as India's new MMRCA fighter was only the latest step in the Air Force's long and painstaking process to pick itself a winner, writes Ajai Shukla.
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
'The Senators were playing safe, not angering either the pro-India lobby or the pro-Pakistan lobby, but perhaps more importantly, the military-industrial complex -- the most powerful lobby of all -- which the majority of Senators are beholden to in terms of largesse to their campaign coffers.'
Full-service carriers like Kingfisher, Jet Airways and Air India sold travel coupons worth around Rs 300 crore to travel agents a few days before the airlines almost doubled their fares in one go. Experts say the full-service carriers have ensured 5-6 per cent of their average sales through these coupons. This, they add, will partly make up for the slowdown in demand expected due to the fare hike.
The first batch of 150 boxes of choicest Alphonso and Kesari mangoes in 18 years arrived in New York from India to the delight of Indians who had been lusting for the luscious fruit for years.
Airlines in the UAE are expecting a huge rush since nearly a million amnesty seekers, including many Indians, are likely to leave the country before the September two deadline.
According to Boeing, India would need 1,940 single-aisle planes worth $220 billion and 350 wide-body aircraft valued at $100 billion.
The slowdown is especially pronounced in rural areas, which have suffered two consecutive dry years.
As many as 15 companies, including Adani Copper Tubes, LG Electronics and Wipro Enterprises, with committed investment of Rs 1,368 crore, have been selected as beneficiaries under the PLI scheme for the white goods sector, the government said on Tuesday. In March, the commerce and industry ministry had reopened the application window for its Rs 6,238-crore PLI scheme for white goods -- air-conditioners (ACs) and LED lights-- with an aim to accommodate more players as several firms had expressed interest in the initiative. Last year, as many as 46 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 5,264 crore were selected in the first round the scheme.
The number of Indian passengers has jumped more than 20 per cent in the past year
The Chinese smartphone maker's focus on offline retail has helped it overtake Samsung in top 50 cities in India.
The ministry of corporate affairs has raised questions on Etihad's rights to nominate three directors on the board and, despite being a minority shareholder in the company, decide on the vice-chairman.
