The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
Posco Daewoo, the South Korean conglomerate whose Cielo sedan and Matiz hatchback were once the pride of Indian car owners, is looking to re-enter India. And its return journey is riding on plans to sell electric bikes and e-cycles. The company termed India's robust economic growth and surging consumer demand as reasons behind its comeback plans, saying they make India "one of the world's most promising consumer markets," according to Y S Choi, general manager, Posco Daewoo South Korea.
Talking to reporters after the launch of 'SMARTECH' engine, General Motors India president and managing director Karl Slym said diesel version of the vechile was also be out later this year.
Even as New Delhi turns up the heat on Turkish firms over Ankara's public embrace of Islamabad, Indian companies rooted in Trkiye are staying put. Mahindra & Mahindra (M&M), Dabur India, and Jubilant FoodWorks say it's business as usual, with no plans to alter course despite the geopolitical chill.
So far, the current year has not been great for the leading car exporters from India. In the top five list of exporters -- Hyundai, Ford, Maruti Suzuki, General Motors and Volkswagen -- it is only Hyundai which is clocking a growth.
Even as India overtakes Japan in automotive sales in 2022, moving to third place for the first time, oddly enough the country's biggest motor show is going to see some big hitters give it a clear miss. Some prominent automotive brands have cited high event costs, negligible returns on investment, poor event management, and unfavourable location as reasons for their reluctance to participate. Major pure-play electric two-wheelers, too, are riding past this year's edition of the Auto Expo.
Ajit Balakrishnan on mapping the Business Serengeti.
Passenger vehicle wholesales saw a marginal growth of 4 per cent in June on account of high base effect and muted demand due to severe heatwave conditions in several parts of the country. Overall passenger vehicle dispatches last month stood at 340,784 units, a growth of 3.67 per cent compared with 328,710 units in June 2023.
'$125 million for the hull and the remaining of over $350 million for liability.'
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.
Both are finding it difficult to sell one each of their plants -- Chennai Maraimalai Nagar (Ford) and Talegaon near Pune (GM) -- and are finding the road blocked by employee severance snarl-ups, report Sohini Das and Shine Jacob.
General Motors India on Monday launched a new variant of Chevrolet Tavera priced at Rs 599,000.
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.
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
Karl Slym, president and managing director of General Motors India Private Limited, said the company would launch Chevrolet Cruze, its new offering in the Chevrolet Spark segment, by third quarter of its financial year ended December 2009. Slym added, "The car will be priced similar to Chevrolet Spark. As far as the minicar is concerned, we are not competing with Tata Motors' Nano, which is a different segment."
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.
We no longer have the ambition to rival China save through words. We are happy to be fighting ourselves and digging up disputes from centuries ago as a substitute for real development, argues Aakar Patel.
"We probably could have sold another 20-30 per cent if there was an easy availability of vehicle finance. People continue to be interested in buying cars, but the sheer lack of finance is a concern.The buyer has to decide what his money can get him. I don't feel threatened that a customer of Chevrolet is going to buy the Nano instead," says Karl Slym, president and MD, General Motors India.
In March 2021, Ola Electric founder Bhavish Aggarwal was seen surveying an empty 500-acre land surrounded by shoe factories, temples, bakery shops, coconut trees and dusty roads in Pochampalli town of Krishnagiri district, Tamil Nadu. Many excavators and workers were busy at the construction site to build the Ola Futurefactory for electric vehicles.
How President and Managing Director Karl Slym is steering General Motors India after its US parent filed for bankruptcy.
General Motors, the world's largest carmaker, has said it would set up an R&D centre in Bangalore, the first outside the United States, with an investment of $21 million.
GM India has last week announced plans for launching four new models in the Indian markets in 2010. "The new mini-car will be in the market by January next year and we will produce more than 40,000 units in the first year. Of this, we will export 20 per cent overseas, including to the European and the Asia-Pacific markets," GM India president and managing director Karl Slym told reporters on the sidelines of the SIAM annual convention in New Delhi.
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.
Carmakers usually come up with such year-end announcements.
Maruti Suzuki is offering cash discounts ranging from Rs 5,000 on its hatchback Celerio to Rs 35,000 on entry level Alto800.
MNC funds invest in companies where foreign promoters have more than 50 per cent shareholding.
The MG Motor India management is focused on scaling up and launching smaller cars to play the long game in the country, says Pavan Lall.
After a six-week tussle, the strike at General Motors India's Halol factory, 35 km from Vadodara, has finally been called off, with the workers and management reaching an understanding.
The judgment from a five-judge Constitution bench, led by Chief Justice DY Chandrachud, offers clarity on licensing regulations and is expected to prevent insurance companies from rejecting claims based on the type of licence of drivers involved in accidents.
The Street's optimism on India's largest listed automotive maker by market capitalisation is not misplaced, given the robust wholesale performance in recent months and the strong 2023-24 (FY24) October-December (Q3) results.
GM president and managing director Lowell C Paddock said the company is bullish on passenger vehicles with some commercial applications and is open to opportunities in the space.
Fuel price hike will impact demand going forward.
GM has also exited from four other international markets, including Russia and Europe.
Passenger vehicle sales are expected to experience muted growth in the current financial year.
General Motors India on Wednesday said it was looking at phasing out some of its old models such as the Aveo and the Optra and replace these with new ones.
