'Narasimha Rao asked me why China was doing so well in attracting foreign investments and I gave my frank opinion.' 'I told him that giving thrust to exports had to be a national effort.' 'But in India, the system was very centralised in the Government of India and the state governments had no role to play.'
Passenger vehicle exports from India increased 43 per cent in FY22, with Maruti Suzuki India leading the segment with dispatches of over 2.3 lakh units, as per the latest data by industry body SIAM. The total passenger vehicle (PV) exports stood at 5,77,875 units in 2021-22 fiscal, as compared to 4,04,397 units in 2020-21. Passenger car shipments saw 42 per cent growth at 3,74,986 units, while utility vehicle exports rose 46 per cent at 2,01,036 units during the last fiscal, the data by the Society of Indian Automobile Manufacturers (SIAM) showed.
Covid-19 pandemic that brought life to a near standstill in 2020 has left Indian adults poorer by 6.1 per cent in 2020, suggests the Credit Suisse Global Wealth Report 2021. Wealth per Indian adult in 2020, according to the report, dropped to $14,252 by 2020-end compared to pre-pandemic levels. On a cumulative basis, Credit Suisse estimates the drop in the wealth of Indian adults at $594 billion.
India witnessed a 12 per cent year-on-year (YoY) jump in total household wealth last year, at $14,225 billion, according to the Global Wealth Report 2022 by Credit Suisse. The report also forecasts the number of millionaires in the country to more than double from 796,000 in 2021 to 1.6 million in 2026. According to the report, which is based on data for the wealth holdings of 5.3 billion adults across nearly 200 countries, global household wealth rose 9.8 per cent in 2021 to $463.6 trillion, driven by widespread gains in share prices and a favourable environment created by central bank policies in 2020 to lower interest rates but at the cost of inflationary pressure.
Vice President Hamid Ansari's visit is billed as a game-changer for India's relationship with mineral-rich Peru, Latin America's fastest growing economy. Nikhil Lakshman reports from Lima.
Vice President Hamid Ansari's visit is billed as a game-changer for India's relationship with mineral-rich Peru, Latin America's fastest growing economy. Nikhil Lakshman reports from Lima.
Tan said that China has always stressed that military cooperation of relevant countries, especially on exercises and training activities, should not be targeted at any third party, but rather serve to help maintain regional peace and stability.
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
Rediff.com brings you a list of the happiest nations in the world.
The US military has intensified its efforts to collect the remnants of the high-altitude surveillance balloon from China that floated over the United States over several days last week from Montana to South Carolina.
Byju's has quietly moved into other global markets such as the UK, Australia and New Zealand. It recently launched operations in Latin America.
India is the fourth Asian country where the Latin American brand is trying its luck.
Zelenskyy gave a message of hope for the Ukrainian people during his address to the Congress, saying the Russians "use everything" against cities such as Bakhmut but Ukraine "never surrenders".
Ola Electric will roll out its complete offering of electric scooters and motorcycles in each segment of the market - premium, mass premium, and economical - in the next 12 months in a bid to push for a near-full conversion of the two-wheeler market to electric in three years. According to Bhavish Aggarwal, founder and CEO of Ola Electric, "ICE (internal combustion engine) products will fall off a cliff." He also says the company is aiming to become profitable next year.
Multilateral platforms are being misused to justify and protect perpetrators of terrorism, External Affairs Minister S Jaishankar said
External Affairs Minister S Jaishankar will arrive in New York on Sunday to participate in the high-level 77th session of the UN General Assembly, which kicks off on September 20 with the opening of the general debate.
The new centre would provide consulting, advanced IT solutions, BPO services and IT product implementations besides, housing the company's first regional SAP centre, the company said in a statement. This is the eighth global delivery centre of TCS in Latin America, in addition to centers in Brazil, Argentina, Uruguay and Mexico.
The Department of Pharmaceuticals has submitted a freight subsidy scheme for exporters to the Commerce Ministry so that they could take alternate routes and avoid transit through Europe, which is a shorter route with better connectivity.
Just because India has outperformed the US markets in a short recent period, it does not mean that this is based on fundamental reasons that are here to stay, points out Debashis Basu.
Overseas shipments at auto firms expanded at a brisk pace year-on-year (YoY) in March, bumping up the overall annual exports for FY22 and taking it to a record level for some like Maruti Suzuki India and Bajaj Auto. Amid a semiconductor shortage, a depreciating rupee and a strong demand in various export destinations, passenger vehicle makers diverted capacity meant for the local market in favour of the more-lucrative export market. Among the passenger vehicle makers, market leader Maruti Suzuki led the rally with its overseas shipments touching a record level of 238,376 units in FY22 - the highest for the company in any financial year.
Consulting and IT services giant Accenture announced two new services - digital and strategy - and key appointments to enhance its position in growth markets like Asia Pacific, Africa and Latin America.
That India would get ruled by the British and not by Portuguese except in some parts was a historic destiny. Why, even Mumbai was given away as a dowry gift by the Portuguese, when their princess, Catherine de Braganza married Prince Charles of England in 1661.'
'The RSS has opposed the introduction of GM Mustard tooth and nail, but PM Modi does not give a hoot for what they think.'
The Indian market has corrected a lot already. Valuations are clearly more attractive than they were earlier this year.
Infantino travelled to Washington to discuss the establishment of a FIFA headquarters in the US
Bhavish Aggarwal, the founder of ride-hailing firm Ola who disrupted the electric scooters market in the country, is planning to launch an electric sports car in 2024. The plan will put it in competition with Indian players, such as the Tata group and Mahindra & Mahindra, and global giants like Tesla and Hyundai. Aggarwal, recently, took a group of reporters to the firm's design studio at the Ola campus in Bengaluru where his teams are working on several EVs, including scooters, motorcycles, sedans, and SUVs - and even robotaxis.
The estimated value of these two firms is around Rs 200 crore.
Pope Francis is a lifelong fan of the Buenos Aires San Lorenzo soccer team.
'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.'
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.
India on Monday set aside over Rs 7,100 crore in its budget for 2021-22 as development assistance for countries in its neighbourhood as well as in Africa and Latin America, with Bhutan getting the maximum allocation of Rs 3,004 crore while Rs 100 crore will be given to Chabahar port project in Iran.
Energy-hungry India is scouting for oil and gas assets in Central Asia, Africa and Latin America to feed the requirements of its rapidly expanding economy.
Banking technology start-up Zeta is the latest entrant to the unicorn club after raising $250 million in its Series C round from SoftBank Vision Fund 2. Sodexo participated as an additional minority investor in the round. Founded by serial entrepreneur and billionaire Bhavin Thurakia, the startup is now valued at $1.4 billion. It is the 14th company this year to cross the $1 billion valuation mark after Meesho, Cred, Pharmeasy, ShareChat, Moglix and others.
'We continue to believe that the global economy will narrowly avoid a recession, despite expecting the US, Canada, and most of Europe to fall into recession at some point over the next year or so.'
Maruti's exports are limited and mainly to countries in Africa and Latin America.
UK-headquartered consumer goods giant Unilever on Tuesday announced a major organisational shakeup to make the company leaner, which involves some of its Indian-origin executives, and plans to lay off 1,500 staff as part of the wider restructuring of its global operations. Sanjiv Mehta retains executive leadership of Mumbai-headquartered subsidiary Hindustan Unilever, while Unilever chief operating officer (COO) Nitin Paranjpe will take on a new role as chief transformation officer & chief people officer, leading the business transformation and heading the HR function for the transformed organisation. The company said Sunny Jain, president of beauty & personal care, has decided to leave Unilever to set up an "investment fund in technology megatrends".
With a team of 20-odd people, Snafu tries to unearth the rough diamonds from millions of songs. Can AI help look for a needle in a haystack? Ritwik Sharma finds out.
'Overtightening of monetary policy by central banks and the spread of new Covid variants, which may force governments to restart lockdowns or restrict mobility.'
The people will view it from their viewpoint, their immediate interest, historical experiences, their insecurities, he said.
Bajaj Auto and TVS Motor are the largest exporters in the listed space with export revenues of Rs 12,000 crore and Rs 5,000 crore.
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