Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
An increase in sales across all categories in the automobile industry, has made need for higher working capital inevitable.
US President Donald Trump's announcement of 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty, is expected to impact Apple's plans to expand iPhone manufacturing in India as well as export of other electronics to the US. The move comes at a time when Indian electronics production is reeling under pressure due to restrictions imposed by China on supply of several critical components, capital goods and even skilled technology professionals.
ACMA has estimated the value of fake spare parts in the after-market at Rs 10,500-14,000 crore.
The move will primarily impact luxury car companies like Mercedes Benz, BMW, Audi and Volvo and bike brands like Triumph and Harley Davidson.
Traversing from being just vehicle manufacturers to mobility solutions providers amid a raging debate over which eco-friendly technology must be incentivised, the Indian automobile industry is driving in the new year under the shadow of a slowdown in sales with the post-pandemic pent-up demand in distant memory. The shift in the auto industry -- where advanced technologies like autonomous driving, vehicle intelligence, connected features and electrification are quickly gaining traction -- will be reflected in the upcoming Bharat Mobility Global Expo in which India's flagship Auto Expo has been clubbed to be held from January 17-22, 2025 in Delhi-NCR.
If TVK MLAs and ministers are perceived as clean, or demonstrably cleaner than their predecessors, the credibility dividend will be enormous. The voter will feel rewarded, points out Ramesh Menon.
There's no change in Apple Inc's India strategy, said a top government source. 'It can only be enhanced'.
Amid a slowdown in the automotive industry, the Automotive Component Manufacturers Association of India asked the government to continue providing export incentives to domestic manufacturers, while expressing concern over India's growing number of free trade agreements.
"I took some time to explore the contours of this initiative. I don't use the term 'game-changer' too often but it's apt in this case. For me, what's much more important than the mechanics of the scheme is the dramatic shift it signals in the attitude towards industry," Mahindra said in a tweet.
The 17 rare earth elements that are at the centre of the current crisis are critical components of everyday products -- from cars to jet engines to electronics like smartphones and flat-screen TVs.
Maruti Suzuki India (MSIL) said on Thursday its operations are unaffected by the global rare earth magnet shortage, but added that the situation is "uncertain and evolving". The firm said it is exploring multiple solutions to maintain continuity in operations and will notify stakeholders in case of material impact.
Osamu Suzuki, the man who took a risk and bet on India when no one else believed in having a viable automobile company in the country, has died at the age of 94, according to information shared by Japan's Suzuki Motor Corporation on Friday.
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According to industry body Society of Indian Automobile Manufacturers and Automotive Component Manufacturers Association of India, with demand continuing to be low and factories not operating at full scale, this may lead to temporary excess overheads.
'There is a need for a national task force with a singular objective to increase automotive exports.'
Mercedes Benz, BMW and Audi have sharply increased their sourcing from India.
Automotive aftermarket has touched the Rs. 33,000-crore mark, but fake spare parts are costing the government Rs. 2,200 crore a year.
With the Indo-Pak dialogue in tatters and the respective armies exchanging fire across the Line of Control, an unexpected opportunity has presented itself for boosting trade between the two countries.
Indian auto industry's dependence on China is high and it will continue to be so in the BS-VI era and as the country moves towards electric mobility. Domestic players lack both technological competence and the sheer pricing advantage that support Chinese imports.
New participants included Chinese players such as Great Wall Motors and Haima Automobile along with Olectra.
Paris-based international advisory firm Mazars predicts four per cent growth in India's automobile sector this financial year.
Companies in the micro, small and medium enterprises (MSME) sector may legally challenge the Haryana government's new law which mandates 75 per cent reservation of jobs in the private sector for locals. "We had earlier gone to the high court against this law, but the court said that it would hear the matter after the law was notified," said Manoj Tyagi, general secretary, IMT Industrial Association. Industries and associations feel that the law will not benefit the state and will hit MSMEs that are just coming out of the crippling effects of the lockdowns owing to the Covid-19 pandemic.
During the meeting with Finance Minister Nirmala Sitharaman, the auto industry broadly presented factors such as issues regarding availability and affordability of financing, increasing cost of acquisition of vehicles and change in axle load capacity for commercial vehicles that have hurt demand.
'The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM'
I'...additional concessions, such as opening government procurement, reducing agricultural subsidies, weakening patent protections, and allowing unrestricted data flows -- demands India has resisted for decades.'
Owing to the poor market conditions and tepid sentiments, the size of the show has shrunk compared to the last edition, which took place in 2018. A majority of the two-wheeler makers, and several car and commercial vehicle makers, have opted out of this year's show, which opens for the media on Wednesday.
Indian auto and pharma industries import several critical components and raw materials from China.
Spreading risks in sourcing raw materials for electric vehicle (EV) manufacturing is "very critical" and the government can play a key role by enabling access to these from multiple locations worldwide, said Vivek Srivatsa, chief commercial officer at Tata Passenger Electric Mobility, on Friday while stressing the need for faster localisation, especially of batteries.
Work is underway in identifying global companies in sectors ranging from electronics, auto components and medical equipment to shift part of their existing or incremental manufacturing to India.
India on Sunday announced temporary suspension of e-visa facility for Chinese travellers and foreigners residing in the neighbouring country and issued a fresh advisory saying anyone with travel history to China since January 15 can be quarantined.
State governments have requested the Centre for export incentives, lifting of import duty in the case of cotton for the textile sector and GST exemptions.
On Day One of the lockdown announced by the Maharashtra Government, it wasn't business as usual for automobile manufacturing units in the State. Confusion prevailed over regulations-what is allowed and what isn't. While some units ran with less than half the workforce, others sought clarity from the government on what is permissible and what isn't.
According to the order, all factories producing essential goods and services will remain operational at full capacity.
Senior Tesla executives including those from its supply chain are planning to come to India on Wednesday and Thursday for meetings with government officials, including those in the Prime Minister's Office, according to sources. Prashant R Menon, director of Tesla India, did not respond to a specific query on the meetings. Sources say that the executives are coming to see how they can expand and develop local sourcing of components from India for the Tesla car.
Passenger vehicle retail sales witnessed 3 per cent on-year decline in May with customers delaying purchases in several states due to India-Pakistan conflict and further softening of demand for entry-level models, dealers' body FADA said on Friday. The passenger vehicle registrations last month stood at 302,214 units, as compared to 311,908 units in May 2024.
'Industry realises we cannot overly depend on imports from anywhere including China.'
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
