Experts have said the reservation provision will set unrealistic goals for organisational hiring, but will also reduce productivity by reducing the available talent pool to a few people within the state.
Under these rules, telecom gear makers have to share their source codes and get their equipment tested by third-party labs accredited to the government.
Passenger vehicle wholesales in India declined by 10 per cent to 2,61,633 units last month as compared to March this year, as COVID-19-led restrictions across various states impacted demand, auto industry body SIAM said on Wednesday. Passenger vehicle sales in March 2021, stood at 290,939 units.
The plan is to offer the ratings of drivers to insurers, which can then customise their premiums -- a higher score meaning a lower premium, for instance, and vice-versa.
Online auto classified platform CarTrade Tech on Tuesday said it fixed a price band of Rs 1,585-1,618 a share for its nearly Rs 2,999-crore initial public offer. The initial public offering (IPO) will open for subscription on August 9 and conclude on August 11. The bidding for anchor investors will open on August 6, the company announced. The initial share-sale will be entirely an offer for sale (OFS) of 18,532,216 equity shares.
Her reasoning is simple, "It's a Tata company. No shareholder will let go of this opportunity," she told Business Standard. When asked if the other reason for lining up for the IPO is the technology sector and the fact that the combination of Tata and tech is happening after almost two decades, she replied: "The name of the company and the group matter. Tata means stability and credibility," she added.
Contrary to reports, the defence ministry has not opened any other deal for investigation besides the AgustaWestland chopper contract, defence sources said on Friday.
Ford, which had announced to quit the Indian market last year, said it was exploring the possibility of using one of its plants in India to produce electric cars for exports.
The government believes firms which are subject to China's laws could be forced to hand over information to Beijing's security services.
This would provide a major boost to the indigenous design and construction capability of submarines in India.
As much as 35 per cent to 40 per cent of all vehicles sold in the country across segments will be electric by 2030, up from a mere 2 per cent this year, says a Bain & Co report released today. This translates to 14-16 million new electric vehicles (EVs) selling in a year. The inflexion point, which is now being seen month on month in many segments (such as two-wheelers which hit around 4-5 per cent in December), will be more than visible in 2026, when 4-5 million EVs across segments are expected to be sold, accounting for 15-20 per cent of the total sales, says the report.
India's electric two-wheeler (E2W) sector is expected to cross the one million mark in 2024 fuelled by rising demand, increased production, and affordability, industry experts said, even as several original equipment makers are expanding their penetration to rural areas. Improved battery technology and innovative features are also likely to fuel growth, they said. "E2W sales will breach the 1-million mark in 2024 as the demand for electric two-wheelers is expected to continue growing due to factors such as environmental awareness, government incentives, and improvements in technology," Hyder Khan, chief executive officer (CEO), Godawari Electric Motors, said.
Subsidies have been stopped for several manufacturers that are under investigation for alleged violations of local-sourcing rules.
Similar discounts compared to online led to a spike in demand for offline, where customers can get a more personal and hands-on product experience.
Auto industry volumes have grown by 2.5 per cent overall, led by domestic sales of three-wheelers, two-wheelers and passenger vehicles (PVs) in the first quarter of this financial year. Analysts predict an 18 per cent growth in revenues for automotive original equipment manufacturers (OEMs) and profit growth of 69 per cent year-on-year (YoY). However, on a sequential basis, a decline in revenues as well as earnings before interest, taxes, depreciation, and amortisation (Ebitda) margins is expected.
GSOMIA does not cover the exchange of classified information with Indian private industry. Washington wanted this covered too, given New Delhi's emphasis on the proposed 'strategic partnership' model of procurement.
Google, in its latest appeal to the Supreme Court, has said the Competition Commission of India (CCI) is protecting Amazon's interests after having complained that India's anti-competition body (CCI) had copied part of a European Commission ruling against it for allegedly abusing the market dominance of Android. The latest twist to the Google-CCI case comes as Google filed an appeal in the Supreme Court on June 26, against the National Company Law Appellate Tribunal's (NCLAT's) March 29 order. The tech giant's contention is that the NCLAT failed to apply the "effect analysis" part in the CCI order.
The Competition Commission has ordered a detailed probe against Google for alleged anti-competitive practices in the smart television operating systems market in the country. After assessing a complaint, the watchdog has reached the prima-facie view that Google is dominant in the relevant market for licensable smart TV device operating systems in India. In a 24-page order, the Competition Commission of India (CCI) said that prima-facie mandatory pre-installation of all the Google applications under TADA amounts to imposition of unfair conditions on the smart TV device manufacturers.
Automobile manufacturers are likely to report strong numbers for the September quarter of Financial Year 2023-24 (Q2 FY24), riding on growth across segments and offset by a marginal drop in overall two-wheeler (2W) volumes. Higher average selling price (ASP) year-on-year (YoY), which was necessitated by price hikes taken by original equipment manufacturers (OEMs), and an improved product mix will also aid revenues and margins. Moreover, commodity prices are down on a YoY basis, leading to higher margins in earnings before interest, taxes, depreciation and amortisation (Ebitda).
The new engine features the Westport WP580 Engine Management System and is designed to support various configurations.
Two-wheeler sales were down 15.24 per cent in July to 12,81,354 units as compared with 15,11,717 units in the same month last year.
Building 6 conventional submarines is one of the Indian Navy's most important weapon construction programmes.
Fuelled by rising passenger traffic and reviving local economies, the global airline industry is projected to record a net profit of $9.8 billion this year, IATA Director General Willie Walsh said on Monday and also made a strong pitch for having global standards for a Sustainable Aviation Fuel (SAF) book and claim system to help reduce carbon emissions. While addressing the Annual General Meeting of the International Air Transport Association (IATA) here, Walsh also flagged concerns about supply chain issues that are raising costs as well as limiting the ability of airlines to deploy aircraft. He also pointed out that decarbonising aviation is a serious issue and governments must not be allowed to use it to shore up exchequer finances.
This year's edition, three years lost to the pandemic and scheduling, wore a distinctive shade of green, and, as would befit an era of technology shift from internal combustion engines to electric motors, had a clutch of high-technology exhibits and concepts. But the excitement of the expo's heyday was missing.
The number of such incidents stood at 25 in 2015, 31 in 2014 and 23 in 2013.
Cummins India will soon start producing fuel-agnostic engine systems at the Tata-Cummins plant in Phaltan in Satara district of Maharashtra, senior officials at Cummins India said. The firm will start limited production by the end of 2023 and mass production will likely begin by 2024, the officials said.
Auto Expo 2023 may not trigger a fresh rally in automobile stocks, say analysts, as this year's edition lacks participation from major listed players. It is also owing to the focus on electric vehicles (EVs), a segment where four-wheelers have minuscule market share. "In the passenger vehicles (PV) segment, Maruti Suzuki India and Tata Motors are the only listed players.
'Instead of ACs, the government should do something to increase our salary.'
India is one of the largest military equipment importers in the world, at over $8 billion a year.
Passenger vehicle wholesales in India increased by 12.73 per cent to 285,367 units in November as against 253,139 units in the same month last year riding on the back of festive demand, auto industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales rose 13.43 per cent to 16,00,379 units, compared with 14,10,939 units in the same month last year.
But private Indian defence firms prefer to do business with the West. Indian CEOs say they encounter difficulties in obtaining full and timely payment from Russian partners.
The 15 choppers that met with accidents included four Advanced Light Helicopter (ALH), four Cheetah, two ALH (weapon system integrated) versions, three Mi-17V5, an Mi-17 and a Chetak.
Exasperated by frequent labour strikes, the Tamil Nadu government has decided to give public utility status to Auto components makers. A move that has left labour unions fuming since, now, they won't be able to go on strike without issuing a notice of six weeks in advance.
Maruti recorded a 13.12% year-on-year surge in average revenue earned per car in 2023 compared to M&M's 7.56%, Hyundai's 6.76% and Tata Motors' 1.88%.
Titan was the top gainer in the Sensex pack, rising over 3 per cent, followed by M&M, Reliance Industries, Axis Bank, TCS, Maruti and Infosys. NSE Nifty surged 122.10 points to 15,885.15.
According to research by IHS Markit, for an ecosystem still grappling with infrastructure issues -- the high cost of EVs and a greater OEM (original equipment manufacturer) focus on electrifying two-wheelers and commercial vehicles first -- the share of such vehicles is expected to be 4 per cent by 2030, reports Pavan Lall.
Will it be Noel Tata, Ratan Tata's half brother?
Tata Motors, India's third largest passenger vehicle maker, took pole position in the competitive sport utility vehicle (SUV) market in October, reveals the data from industry sources. Riding high on the Punch - the sub-compact SUV offering launched on October 18 - the Tata group flagship sold a record 23,381 units in October, higher than 20,022 units sold by archrival Mahindra & Mahindra, 18,538 units sold by Hyundai Motor India, and 15,931 units sold by Kia Motors India. Utility vehicles - that include SUVs and multipurpose vehicles - accounted for almost one in every two passenger vehicles sold in India in the first seven months of the current financial year, according to the Society of Indian Automobile Manufacturers.
Auto component makers in India are bracing for a tough time. High absenteeism among workers owing to Covid-19, shortages of critical parts, and temporary closures of plants by automobile manufacturers have thrown a spanner in the works for the Rs 3.2-trillion sector, which derives 60 per cent of its revenues from automobile original equipment manufacturers (OEMs), with the balance split equally between replacement demand and exports. Car market leader Maruti Suzuki India on Saturday said it was extending the maintenance shutdown, which was from May 1 to 9, till May 16, "keeping in view the current pandemic situation". Some activities will continue in the plants.
India does not have the facilities needed for developing advanced aerospace products. There is only one wind tunnel in the country, the almost six decade old one in the National Aeronautics Laboratory.
