Passenger vehicle wholesales in India declined nearly 4 per cent to 279,501 units last month, auto industry body SIAM said on Wednesday. Passenger vehicle (PV) dispatches from factories to dealerships in March 2021 stood at 290,939 units. As per the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales also fell 21 per cent to 11,84,210 units as compared with 14,96,806 vehicles in March 2021.
What is more surprising is that a surge in Russian oil supplies has come after the G7 imposed stringent sanctions on Moscow.
India, the world's largest consumer of gold has created a number of rich jewellers over the years.
'Last year, India exported more software than Saudi Arabia exported oil.' 'Last year India got $83 billion of private equity.' '50 percent of India's FDI has come in the last five years.'
A careful reading of the national income accounts suggests that after a strong recovery from the pandemic, there has been a significant ebbing of dynamism over the last three quarters to more modest levels recently, note Arvind Subramanian and Josh Felman.
'My God, we could win half the world over just by our food alone.'
In a multi-year first, the country's largest software exporter TCS on Monday reported a marginal decline in its overall employees for the December 2022 quarter but announced that it will be hiring over 1.25 lakh staff in FY24. The software firm posted a decline of 2,197 people in its employee base for the October-December period to 6.13 lakh. The Tata group company, however, made it clear that this was due to the higher hiring done over the last 18 months, and not driven by the demand environment.
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
While prices sustaining lower levels is crucial, Govt actions are also a key monitorable given the forthcoming elections in 2024.
Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
India's stiff labour laws were one key issue that Apple CEO Tim Cook discussed with Prime Minister Modi on his recent visit.
'The finance ministry and the RBI will never admit to the difficulties in the economy because if they do so, it will adversely impact the financial markets, etc.' 'They like to present a rosy picture that everything is fine and under control.'
Ukraine government officials have accused Russian forces of destroying grain storage facilities in the country. Nearly 25 million tonnes of grains are stuck in Ukrainian warehouses and unable to move out due to Vladimir Putin's War.
Black Friday sales in India received a good response as brands dropped their prices making customers queue up outside stores where discounts were steeper. Discounts were offered both online and offline. Most of the international brands in India offered discounts under the Black Friday Sale banner. The Black Friday Sale started in the US on the Friday after Thanksgiving Thursday. The day typically marks the beginning of the Christmas shopping season ahead of the festival.
The possibility of the slowdown affecting more players is greater if the industry doesn't get access to easier finance in the next six to eight months.
'An area of land has already been earmarked for their protected habitation.' 'There are also steps being taken to take care of the coral zone and mangroves.'
'Why should our government opt for unproven technology that has been rejected by most countries across the globe?' 'Being dependent on any other nation to supply you seed for your good crops is another form of slavery.'
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
'In FY23, PV sales are expected to end the year at a record 3.8 million units, up 26 per cent. In FY24, however, the industry is expecting 5-7 per cent volume growth'
'We should look at is full year's growth rather than quarter numbers.'
'The approach today is, instead of giving loans to 100 MSMEs, let us give one loan to a big-ticket corporate.' 'And so many of these big fish deceived the banks and the banks are in the doldrums now with high NPAs.'
India's first indigenously developed quadrivalent Human Papilloma Virus (HPV) vaccine for the prevention of cervical cancer will be launched in a few months and made available to the people in an affordable price range of Rs 200-400, Serum Institute of India CEO Adar Poonawalla said on Thursday.
Maruti's results and the investor response indicate that quite a few stocks in the auto sector could be on the verge of a big bounce, says Devangshu Datta.
Nangiohbok Rymbai, a graduate in economics who works as a daily wage labourer in Shillong, tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
Maruti's strategy for the SUV segment is to arrest the decline in customers for entry level hatchbacks.
Prices have remained lower this year.
The impact of fiscal measures announced by the government to contain inflation will be seen in the next few months because of the base effect, reports Indivjal Dhasmana.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
'... and without necessarily calling them Economic Surveys.' 'One should stick to the main focus, which is to give people a good perspective on how the economy is doing.'
It was unclear how bankers were deciding which jewellers to support
'If you look at the order books of capital equipment companies or money deployed on the ground, there is forward movement in terms of actual investment by the private sector.'
Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
The country's largest software services firm Tata Consultancy Services on Monday opened the fourth-quarter earnings season with a stellar set of numbers, crossing the Rs 50,000 crore revenue mark for the first time and earning a net income of Rs 9,926 crore, registering a growth of 7.4 per cent year-on-year. The company said its revenue jumped 15.8 per cent to Rs 50,591 crore in the reporting quarter on an annualised basis. Many analysts were expecting the Tata group flagship to report over Rs 10,000 crore of net income and revenue to cross the Rs 50,000 crore mark this quarter.
The Philippines, confronted with Chinese bullying in the South China Sea, have become the first foreign military to order the shore-based, anti-ship cruise missile.
'We expect exports to touch Rs 1,000 crore by the end of the year.'
'The pipeline of new industrial projects is the best I've seen in the last 10 years, and it looks solid enough to sustain for at least a few quarters,' points out Naushad Forbes, adding, 'It is only when we get back to the same labour force participation we saw before Covid that the economy will have truly recovered.'
Macroeconomic management is usually a lot more comfortable with lower fiscal deficits. The sooner we get there, the better for the economy, says former Chief Economic Adviser to the Government of India Shankar Acharya.
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
Only 80.6 per cent of the Rs 6-trillion allocation has been spent by February, data from the Controller General of Accounts shows.
'It leads to more investment, more money put in R&D, expansion and modernisation.'
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