as the FAME II deadline of March 31, 2024, nears, EV manufacturers are worried about their investments and future plans.
Retail inflation remained above the RBI's comfort level for the second consecutive month despite slipping slightly to 6.26 per cent in June while the factory output recorded a growth of 29.3 per cent in May, mainly on account of the base effect, the government data showed. The marginal slippage in the Consumer Price Index (CPI)-based inflation was noticed despite little firmness witnessed in the food inflation which inched up to 5.15 per cent in June from 5.01 per cent a month ago. Retail inflation based on Consumer Price Index (CPI) was 6.3 per cent in May 2021 and 6.23 per cent in June 2020.
The wholesale price-based inflation shot up to an all-time high of 10.49 per cent in April, on rising prices of crude oil and manufactured items. Also, a low base of April last year contributed to the spike in inflation in April 2021. The WPI inflation was 7.39 per cent in March 2021, and (-) 1.57 per cent in April 2020. This is the fourth straight month of uptick seen in the wholesale price index (WPI)-based inflation.
IMD has decided to increasingly use cutting-edge technology such as artificial intelligence (AI) and machine learning (ML) in forecasting, both to avoid such glitches and to counter the disruption of normal seasonal patterns as a result of climate change. It has formed various internal sub-groups of senior officials and meteorologists to decide on how best to use AI and ML in predicting cyclone intensity, and in making short-range weather forecasts (those valid for up to three hours) as well as long-range forecasts.
Among IT services firm, Cognizant witnessed over 60 per cent of its initial applications rejected, followed by Capgemini, Accenture, Wipro, and Infosys. In 2018, the top six Indian firms got just 16 per cent or 2,145 H1B work permits.
The resurgence of COVID-19 has dented but not debilitated economic activities in the first half of Q1 of the current fiscal even though caseload of infections is much higher than before, according to an RBI article. The ferocity of the second COVID-19 wave has overwhelmed India and the world, the article said, adding that war efforts have been mounted to stop the surge in its tracks. "The impact of the second wave on the real economy seems to be limited so far in comparison with the first wave. Evidently, the localised nature of lockdowns, better adaptation of people to work from home protocols, online delivery models, e-commerce and digital payments are at work," the article on the state of economy authored by RBI Deputy Governor M D Patra and other officials said.
Economic activity has regained momentum from late-May after the dent caused by the second wave of COVID-19, and the pandemic's impact on the overall asset quality has been less than expected, Reserve Bank Governor Shaktikanta Das said on Thursday. However, Das flagged rising data breaches and cyber-attacks as among the risks for the recovering economy, along with others like firming global commodity prices. The governor also said the second wave had a "grievous toll" on the country.
Panagariya urged the government to undertake labour law reforms and make land acquisition more flexible to attract the multinationals.
A month-long national lockdown to arrest the spread of COVID 2.0 could shave off 100-200 bps of GDP, leading to a 300 bps risk to annual growth, a brokerage report has flagged while expressing doubts over the ability of local lockdowns to control the pandemic. The second wave of the coronavirus inflection has caught the government off-guard with the daily cases jumping over 6.5 times in the past 30 days. With close to 3.53 lakh fresh daily infections, the country is the worst hit globally.
Jaishankar said India will try to find common ground on trade issues during discussions with Pompeo.
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.
'Last year we sold 18 million phones in India, this year we should do 23-24 million, and next year our target is to hit 40 million.'
"We know that post the COVID-19 infection, immunity is only for a short duration of 3-6 months, after which the same person is vulnerable to getting reinfected. The reinfection will depend on the viral load to which the susceptible person is exposed to. We have seen some Chief Ministers and national leaders also getting infected a second time. So nobody is permanently immune," Prof. Murthy said.
Mobile device maker Realme has overtaken South Korean giant Samsung to grab the second spot in the branded smartphone market, with 18 per cent volume share in October this year, revealed Counterpoint Research. Its rival Samsung ended October with 16 per cent share. Xiaomi (including its brand POCO) was at 20 per cent; Vivo at 13 per cent. The ascent brings Realme closer to its ambition to reach the No. 1 berth by 2022 when it hopes to sell over 40 million smartphones annually.
The eight areas that recorded 'severe' air quality Saturday are Anand Vihar, Dwarka Sector 8, Narela, Punjabi Bagh, Bawana, Mundaka, Vivek Vihar and Rohini.
Despite admitting to price pressures both from food items and input prices, RBI Governor Shaktikanta Das on Wednesday hoped that a normal Southwest monsoon will have a "soothing impact" on inflation pressures and ruled out any wide variations in medium-term inflation forecast from what was given in April. In an unscheduled address earlier in the day amidst the raging pandemic, Das said the overall outlook for the economy is highly uncertain and is clouded with downside risks. He offered a slew of relief and liquidity measures to individuals and small businesses apart from a Rs 50,000 crore special liquidity window to the healthcare sector.
According to Ajai Sahai, director-general and CEO of Federation of Indian Export Organisations, rising cases are a cause for concern as it adds to the uncertainty and may impact exports.
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.
Reliance Industries has put together an aggressive plan to build its drone business which includes expanding manufacturing capacity five-fold, participating in the new drone production linked incentive scheme, and experimenting with limited logistics payloads to deliver goods. The target is to become a key player in the expected $5 billion market in India by the end of the decade. The drone business is being carried out through a Bangalore-based start up, Asteria Aerospace, in which Reliance has taken a majority stake. Asteria is a subsidiary of Jio Platforms Ltd.
Lockdowns imposed by the states in April and May to contain the second wave of the deadly COVID-19 pandemic has likely led to the economy contracting 12 per cent in the June quarter as against 23.9 per cent contraction in the same quarter in 2020, says a brokerage report. The economy had its worst contraction on record in FY21 at 7.3 per cent as the 2.5 months of unplanned lockdown announced by the centre with just a four-hour notice had crippled the economy in the first quarter with a massive 23.9 per cent contraction, which improved to -17.5 per cent in the second quarter.
Advertising on television continued to show momentum in May despite the surge in Covid-19 infections and the temporary suspension of the Indian Premier League (IPL), a high-impact television property. The data shared by the Broadcast Audience Research Council of India (BARC) on Thursday shows that advertising volumes in May were up 64 per cent year-on-year. However, there was a marginal dip sequentially, that is, in comparison to April 2021, when advertising had touched a record high owing to the start of the summer season and the return of the IPL to India after being held in the United Arab Emirates in 2020.
Apart from bringing new suppliers on board, Xiaomi is also hoping to take advantage of the newly launched PLI scheme that offers incentives on incremental production of smartphones with 2020 as the base year.
According to research firm IDC, a slowdown in smartphone shipments began showing up as early as late February, though companies insist that the March quarter was fine, albeit on a low base.
The steep rise in prices of key components, coupled with a ban on the import of finished sets, is expected to hit prominent Chinese brands, such as OnePlus, Xiaomi, TCL, and Realme.
India's COVID-19 cases and deaths per million population are amongst the lowest in the world, the govt says.
India's fuel demand in May slumped to its lowest in nine months as restrictions to curb the second wave of COVID infections stalled mobility and muted economic activity. Fuel demand fell 1.5 per cent to 15.1 million tonnes despite the low base of May 2020 and was down 11.3 per cent when compared to the previous month, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. India was under one of the world's strictest lockdowns in May last year, which brought all mobility and economic activity to a grinding halt.
The Nifty Bank index has come off 15 per cent from its peak in February, underperforming the benchmark Nifty which is down 6%.
India's economy is estimated to contract by 9.6 per cent in the fiscal year 2020-21, reflecting a sharp drop in household spending and private investment, and the growth is expected to recover to 5.4 per cent in 2021, the World Bank said on Tuesday. In its Global Economic Prospects report, the World Bank said that the informal sector, which accounts for four-fifths of employment, has been subject to severe income losses during the COVID-19 pandemic.
'In the medium to long term mid-caps tend to generate higher returns, albeit with increased volatility.'
'If there is one certainty in this visit, it is that Trump does not follow a script. He is unpredictable,' highlights Ambassador B S Prakash.
RCom will use Motricity's m-Core platform to deliver advanced services and applications on its 3G, GSM and CDMA mobile platforms.
A Chinese company named Shanghai AdUps has been sending massive data about phones and users to servers in China.
At present, the Met department is often unable to provide exact information on the exact amount of rain over a localised area.
Vaccines Covishield and Covaxin work against SARS-CoV-2 variants Alpha, Beta, Gamma and Delta, while effectiveness tests against the Delta Plus variant is ongoing, the government said.
Sharing her experience, Melania said that she was very fortunate as her diagnosis came with minimal symptoms, though they hit her all at once and it seemed to be a roller coaster of symptoms in the days after.
Completed projects saw an improvement of 29.2 per cent over the June quarter, which is valued at Rs 0.31 trillion.
Evidence indicates that restoration of functioning of the education system as it was in pre-Covid times, as early as possible appears prudent in the current Indian context, they said.
'We really need to look seriously to see if there are any local variants.'
Today, Vachani's public-listed company, Dixon Technologies, has gone beyond manufacturing just television sets. Armed with private equity funding from Motilal Oswal eight years ago, it has transformed itself into a Rs 4,400 crore electronic manufacturing services major, which now straddles lighting products, home appliances, feature phones, LED bulbs, amongst others. A two-part series looks at how two home-grown manufacturers are leveraging the govt's production-linked incentive scheme.
What should the management do when it discovers a technology fraud?
