Tata Motors recently cut the sales forecast of its luxury car brand, JLR, due to chip shortages, scaling down its production numbers from the earlier 120,000 units to 60,000-65,000 units by September, and leading to an almost 10 per cent fall in the company's stock. In May this year, Bosch India, too, had stated that chip shortfalls would impact its production, as supply chains were getting disrupted.
India's gold holding in forex reserves rose to 560.3 tonnes by the end of March 2018.
'The government expects demand for electronic products to reach $400 billion by 2023-24. This would be a huge foreign exchange outflow, which may further widen our trade deficit with other nations. Hence, the government plans to push local electronics manufacturing to cut down on their import bill.'
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
Expansion of distribution network, venturing into new markets, supplementing production capacity, and ramping up workforce are all on the cards. Instead of trying to fight with brands having massive war chests, it will pass on the benefits to consumers by offering them phones at lower prices.
India's 100 top billionaires have seen their fortunes increase by Rs 12,97,822 crore since March last year when the Covid-19 pandemic hit the country and this amount is enough to give 13.8 crore poorest Indians a cheque for Rs 94,045 each.
'Why did government not include a provision in the bills which categorically stated that no crop will be sold below the MSP in the open market?'
A time has thus come when state encouragement for rural students led to empowerment of the socio-economically marginalised sections of the population. It included women. Today, with greater exposure and consequent enlightenment, it has gone beyond 'empowerment' to become 'entitlement', says N Sathiya Moorthy.
Gold stocks in India are estimated to be over 20,000 tonnes at present.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'Those who should have been affected benefitted from demonetisation.' 'And the vast majority who should not have been affected lost out.' 'That is the ultimate result of demonetisation.'
'The one aspect which no Indian military thinker would wish to see emerge is a LoC type of posture at the LAC.' 'The LoC is manned for 750 km and terrorist infiltration has led to the creation of a virtual fortress along its entire length.' 'Something mirroring this at the LAC is going to be expensive although deployment everywhere is not warranted there.' 'However, given the complete trust deficit, there appear few alternatives,' notes Lieutenant General Syed Ata Hasnain (retd).
Besides their country of origin, General Motors, Ford Motor and Harley-Davidson have another trait in common: all three have failed in India, the world's fifth largest automobile market. All three of them took a tough call to de-prioritise India as a market amid disruption from heightened regulations and sharper focus on capital allocation by the parent.
'There is no doubt at all that Jio's disruption of the mobile broadband market was a turning point for India's digital economy.'
The costs of providing free vaccines are way lower than the costs of a freewheeling epidemic.
While most economies contracted in the second quarter of 2020, the Chinese economy grew by 3.2 per cent.
'The attempt to build a negative narrative about India's economic performance is disingenuous.' 'For the investors as well as the targeted beneficiaries of welfare schemes, the ground reality is very different,' argues Rajiv Kumar, vice-chairman, NITI Aayog.
The decision to not attend the forum attended by 28 heads of state and 130 national delegations is a clear break from its usual policy of going along with the crowd.
EV players suggest a reduction in the goods and services tax on batteries from 18 to 5 per cent as it would help push demand.
The struggling steelmaker said the sale includes several South Yorkshire-based assets, including electric arc steelworks and bar mill at Rotherham, steel-purifying facility in Stocksbridge and a mill in Brinsworth.
Citizens are encouraged to deposit jewellery, bars or coins with banks so it can be refined to meet fresh demand and cut the need for imports
Kishore Biyani led-Future Group has filed a caveat before the Delhi high court requesting it to be heard if any plea is filed by e-commerce major Amazon over its Rs 24,713 crore deal with Mukesh Ambani-led RIL. Anticipating a move by Amazon, which had got an interim arbitration award in its favour, putting the announced deal on hold, the Future Group firm has moved the Delhi high court.
Stating that India's economic stimulus was not adequate, Banerjee said, the measures did not increase consumption spending of lower income people as the government was not willing to put money in the hands of the low income population.
West Bengal Chief Minister Mamata Banerjee on Saturday tore into Narendra Modi government, accusing it of bulldozing the federal structure and running a Presidential form of government, drawing sharp reaction from the Bharatiya Janata Party.
Fitch Ratings on Thursday said the resurgence of COVID-19 infections may delay India's economic recovery, but won't derail it, as it kept the sovereign rating unchanged at 'BBB-' with a negative outlook. It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. Fitch had in June last year revised outlook for India to 'negative' from 'stable' on grounds that the coronavirus pandemic had significantly weakened the country's growth outlook and exposed the challenges associated with a high public debt burden.
Even when large businesses said they were flying blind in mid-2020, the markets rallied and an incredible business boom followed. This is not to say that the markets will continue to rally and there is nothing to worry about, observes Debashis Basu.
'There are large cohorts of students who cannot recognise the alphabet or numbers.' 'We are suggesting schools 'start early and end late'.'
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
Fugitive Diamantaire Mehul Choksi who is held in Dominica after his mysterious disappearance from Antigua and Barbuda has alleged that his "friend" Barbara Jabarica was instrumental in his abduction which involved musclemen claiming to be Antiguan Police and mercenaries looking like Indians. The police have started the investigation after receiving a complaint from Choksi, Antigua Prime Minister Gaston Browne said.
One indictment accuses Huawei of trying to steal trade secrets from T-Mobile, and of promising bonuses to employees who collected confidential information on competitors. A second indictment claims the company worked to skirt US sanctions on Iran.
While India's GDP growth slowed to five-year low of 5.8% in Q4, China grew at 6.4%.
The anti-terror watchdog has decided to give respite of four months to Pakistan to help her implement remaining recommendations of the task force.
Despite returns from gold down over 5% in the past three months, it is a good idea to keep this asset class in your portfolio.
...but are we chasing yesterday's dreams, asks Ajit Balakrishnan.
For the past five months, ever since he was appointed the Ayushman CEO, Indu Bhushan, a former bureaucrat, has made Nirman Bhawan his second home, working nine to nine with his "dedicated team" on the Modi government's biggest initiative after the Goods and Services Tax, says Nivedita Mookerji.
Once the darling of consumers, the April-June sales figure for Apple is a historic low. This has coincided with Chinese player OnePlus taking top spot in premium smartphones with a share of 40 per cent and Samsung slipping to second position at 34 per cent in April-June.
Indian equities are no longer cheap vis-a-vis global markets, and only a short distance away from being the most expensive they have ever been.
'The package will help in realising the true potential of employment generation in the textile and apparel sector.'
The number of participating automakers has fallen from 50 in 2018 to 30 this year. The count of exhibitors, including technology companies, has come down from 119 to 112. And showstopper luxury and supercar brands, including Toyota, Jeep, Lamborghini, Porsche, and Volvo will be missing. Similarly, the commercial vehicle makers also gave the show a miss -- a prolonged economic slowdown has dented their fortunes and near chances of any recovery.
