India's home-grown EV startups say the government's auto PLI scheme is helping big players while shutting out innovators building electric two- and three-wheelers from scratch.
Aditya Birla Group's Hindalco Industries on Friday reported a 21.3 per cent year on year rise in its consolidated net profit to Rs 4,741 crore in the second quarter of 2025-26 (Q2FY26), driven by its Indian business and its US-based subsidiary, Novelis.
'Due to tariff uncertainty, automotive customers reduced their steel uplift by almost 15 per cent.'
Smartphones, for the first time, emerged as India's largest individual export commodity by value over 10 months of any financial year, during the April-January period of FY25, based on harmonised system (HS) codes. During the period under review, smartphone exports from India reached $18.31 billion, according to data from the Department of Commerce, surpassing automotive diesel fuel exports, which stood at $16.04 billion.
'I am not an aspiration-oriented politician.' 'This is the time to redefine politics.' 'Politics of power is not real politics.'
'The steel industry expects the government to decide on safeguard measures from dumping post-Budget'
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
By the year 2026, India will be the third in the world after China and USA in engineering, manufacturing and export of vehicles and auto components.
The heavy industries ministersaid that the proposal for the auto scrappage policy was ready and all stakeholders have provided inputs, therefore its announcement was likely very soon.
The China auto show saw some amazing models being rolled out, some for the first time. Rajesh Karera/Rediff.com picks the best of the lot.
Despite superior margins, JLR hasn't had a smooth ride in China.
Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
At the 9th review of the US trade policy regime, many members -- China, Norway, Thailand, the European Union, among others -- sharply criticised Washington for not adopting WTO-consistent policies in several areas.
PM Modi on Saturday met PM Abe and invited Japan to be part of the 'Make in India' programme.
Indian-American Raj Nair, executive vice president and president of Ford North America, has been asked to leave the Detroit-based motor company following allegations of misconduct at work place, has been replaced by another Indian-American, Kumar Galhotra.
IT majors along with metal names Sesa Goa and Hindalco buck trend.
Companies world over have to confront unprecedented factors that can cause losses.
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