Maruti being the market leader with a disproportionately high share of the passenger car market helped its component makers grow as an industry all these years and hence, the exit from a segment is a jolt if not a big setback.
Slym, 51, died after falling from a high floor of the hotel in Yannawa district, Bangkok.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
"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.
An increase in sales across all categories in the automobile industry, has made need for higher working capital inevitable.
An ACMA-BCG report has targeted Indian auto component exports to hit $100 billion - nearly a fivefold increase from $21 billion currently
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
Several multinational medical device makers are focusing on deepening their presence in India by expanding their local manufacturing footprint and research capabilities, a move that can catapult India into a strategic hub for the medical technology (medtech) industry. Among those increasing their reach in the country are Siemens Healthineers and Philips, signalling a broader shift from India being only a sales destination to becoming a global production and innovation base.
'The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM'
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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.
Indian auto and pharma industries import several critical components and raw materials from China.
The move will primarily impact luxury car companies like Mercedes Benz, BMW, Audi and Volvo and bike brands like Triumph and Harley Davidson.
Mercedes Benz, BMW and Audi have sharply increased their sourcing from India.
New participants included Chinese players such as Great Wall Motors and Haima Automobile along with Olectra.
This is part of the government's move to improve infrastructure.
According to the order, all factories producing essential goods and services will remain operational at full capacity.
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.
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.
Apart from around 40 Japanese companies and five global vendors of MG Motor India, many other biggies are eyeing Gujarat for either greenfield opportunities or brownfield expansion.
'Industry realises we cannot overly depend on imports from anywhere including China.'
'Right now, we are increasing production in anticipation of the demand during the festive season.' 'If the demand doesn't come back, all the production will languish in the factories.'
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.
With a million-odd electric vehicles (EVs) - two-wheelers, e-rickshaws, buses and passenger cars - expected to hit the road this calendar year, the shift from gasoline-powered vehicles has become irreversible. Now the question is whether the supply chain is ready for this shift. Key components - the high-powered lithium-ion battery and the cells which go with it, the electric motor, and the electronics powered by chips - account for nearly 60 per cent of the cost of an EV.
Experts say while the increasing demand for a ban on Chinese goods might make for good optics, the reality is that India is still heavily dependent on that country in a wide range of industries like electronics, mobile devices, auto, pharma, telecom equipment, and fertilisers.
Under regulatory scanner, Bengaluru-based Ola Electric has witnessed an uptick in its sales after facing a decline during the last few months. The company's daily average sales rose to 1,154 units in October, according to Vahan data from the Ministry of Road Transport and Highways (MoRTH). With sales reaching 17,315 units between October 1 and October 15, the company has also boosted its market share to 34 per cent, up from 27 per cent in September, in the electric two-wheeler (e2W) segment.
One can see the scale of recalls going up as the market expands.
The Centre on Wednesday scrapped the mandatory human safety tests for electric vehicle (EV) batteries required to qualify for incentives under various government schemes. The ministry of heavy industries, in its fresh guidelines, has made compliance with the ministry of road transport and highways (MoRTH's) prevailing EV battery testing standards the only requirement to get incentives under the Centre's various incentive schemes.
Tata Motors, the market leader in electric four-wheeler space, has sought incentives for its Tiago EV under the government's production-linked incentive (PLI) scheme, group chief financial officer P B Balaji said on Tuesday. The Mumbai-headquartered firm has applied for all variants of the Tiago, which recently hit a sales milestone of 10,000 units. "The Automotive Research Association of India certification is done.
Paris-based international advisory firm Mazars predicts four per cent growth in India's automobile sector this financial year.
However, a prolonged and intense second wave that curtails oxygen supply to industries for a longer-than-expected period will exacerbate downside risk in affected sectors
India can become the number one automotive manufacturing hub in the world within five years, but auto companies need to enhance safety features to reduce deaths due to road accidents, Union Minister Nitin Gadkari said on Thursday. In his inaugural address at the Auto Expo 2023 here, the minister for road transport and highways asserted that the government's target is to reduce these accidents by 50 per cent before the end of 2024 while asking the auto industry to take suo moto action for road safety as the government doesn't want to make anything mandatory. Gadkari's sentiments were also echoed by Minister of Heavy Industries Mahendra Nath Pandey, who lamented that while India has only 1 per cent of the total overall vehicles, the country accounts for 11 per cent of the total global deaths due to road accidents.
Apart from a pavilion of vintage cars, there will be a Bollywood corner
Customers won't shift to electric cars until there is countrywide infrastructure for charging stations, which should be as spread out as petrol pumps now. Two, the price of the lithium ion battery, which constitutes 30 to 40 per cent of the cost of an electric car, has to fall substantially, so that the vehicle is as affordable as a gasoline one.
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
'He was a practical person who ensured that he thought about the common man, animals, the fact that they have a life and they have to be respected.'
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.
Sanand has catapulted into the big league of automobile industry hubs.
Such allegations are unjustified, given that the CCI's remedies do not promote a free-for-all scheme.
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.
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