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.
Developed countries are relaxing restrictions on economic activity at a faster rate than expected. Global demand for consumer goods, intermediates and commodities is growing at a fast pace. Most exporters are flushed with orders, says T N C Rajagopalan.
Nilesh Veera, director of APMC said, complained that availability of workers is a big problem. They have asked the government to provide enough sanitizers, masks, etc, for worker safety, to call them back. There has been no reply.
Automobile exports from India recovered in the first quarter with all vehicle segments, including passenger vehicles and two-wheelers, witnessing growth following an improvement in the pandemic situation across various international markets. As per the latest SIAM data, total vehicle exports during the April-June quarter this fiscal stood at 14,19,430 units as compared with 436,500 units in the same period of 2020-21 which saw massive disruptions due to the COVID lockdowns across the country, hampering sales as well overseas shipments. SIAM director general Rajesh Menon told PTI that while two-wheeler shipments were better than previous three years, passenger vehicles, three-wheelers and commercial vehicles export numbers were yet to catch up with numbers in the first quarter of 2018-19 fiscal.
Fadnavis said, "Nawab Malik and his family members were part of a company which purchased land in Kurla (area of Mumbai) at a very low rate by making some fictitious documents. There are four such land purchase deals where I can firmly say that Malik has entered into land deals with the underworld."
Sharad Pawar reckons that the NCP has value as a united, going concern, not as a gaggle of leaders in search of followers, notes Shreekant Sambrani.
Heavy overnight rains have disrupted normal life in the island with a flood-like situation in north and middle Andamans.
Four-nation grouping Quad on Tuesday launched a major new initiative for the Indo-Pacific that allows the partner countries to fully monitor the waters on their shores and help ensure peace and stability in the region, a move that comes amid China's increasingly intimidatory behaviour.
The storm is likely to impact Mumbai, Thane and other coastal districts of Maharashtra like Raigad and Palghar along with Valsad, Navsari, Surat, Bhavnagar and Bharuch districts of Gujarat and Union Territory of Dadra and Nagar Haveli and Daman and Diu. Preparations for the impending cyclone were discussed at a meeting of the National Crisis Management Committee (NCMC), headed by Cabinet Secretary Rajiv Gauba, a home ministry statement said.
When Jawa Motorcycles owner Jiri Gerle sold the legendary but defunct brand to Classic Legends (part-owned by Mahindra & Mahindra), he had one request to the new owners: Please do bring the brand back to its homeland -- the Czech Republic.
India's factory output climbed 22.4 per cent in March, benefiting from the base effect of the lockdown-marred month a year back as well as a turnaround in the manufacturing sector, while retail inflation slipped to a three-month low of 4.29 per cent in April. The high positive annual growth in the index of industrial production (IIP) in March 2021 came on back of a contraction of (-)0.9 per cent and (-)3.4 per cent in January and February 2021 respectively, according to the data released by the National Statistical Office (NSO) on Wednesday. This turnaround was led by recovery in the mining, manufacturing and electricity sectors.
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.
Companies are looking to combine risk management with strategy.
If they can sit together and hammer out 'Black Sea Initiative' deal for much needed food shipments, surely, they should be able to address the madness of the larger military conflict?
China's state-run Sichuan Airlines has suspended all its cargo flights to India for 15 days, causing major disruption to private traders' efforts to procure the much-needed oxygen concentrators and other medical supplies from the country despite Beijing reiterating its readiness to help India to deal with the latest surge of COVID-19 cases.
With the disruption caused by the second wave of Covid-19 pandemic, the 'fear of unknown' is looming over the government's privatisation drive. Although there is a lot of uncertainty and unpredictability on how things will unfold, the government is hopeful of completing the transactions listed in the Budget with a delay of one to two months, said a top government official. However, "there are many unknown factors now, and we do not know whether there could be a third wave. But we are trying to carry on with our work", the official said." Since there is a lot of uncertainty, the estimates will have to be revised as rating agencies are revising their outlook for growth.
'The coronavirus epidemic highlights the need to start thinking more actively about multilateral coordination, including, but not confined to, health emergencies and climate uncertainties,' says Rathin Roy.
The minister emphasised that India will play its due role in advancing global food security and it will do so in a manner in which it upholds equity, displays compassion, and promotes social justice.
The proceedings of Lok Sabha and Rajya Sabha were adjourned for the day on Tuesday amid continuous protests by opposition members over the Pegasus snooping row and farm laws, as they demanded that discussions be taken up on the issues in the House.
The Reserve Bank remains laser-focused to bring back retail inflation to 4 per cent over a period of time in a non-disruptive manner, Governor Shaktikanta Das stressed while voting for status quo in interest rates, as per minutes of the October policy meeting released on Friday. The central bank has been mandated by the government to ensure the Consumer Price Index (CPI) based inflation is at 4 per cent, with a band of 2 per cent on either side. The retail inflation, which was above 6 per cent during May and June, has started moving down and stood at 4.35 per cent in September.
Union Home Minister Amit Shah on Monday reviewed the preparations for Cyclone Yaas including the evacuation of people on the high seas as well as in vulnerable coastal areas and the safety of COVID-19 facilities.
'The Indian Navy has sufficient combat power in areas of interest to India that can quickly scale up operations if the need arises.' 'This includes all the choke points leading into the Indian Ocean as also areas within.'
The soaring prices of metals like lithium, nickel and cobalt, which are the primary constituents of the cell, as well as supply chain bottlenecks, are also pushing up the cost of batteries
"This is a big scam. The country is being looted. Please allow us to speak," Congress leader in Lok Sabha Adhir Ranjan Chowdhury said.
While traditional automakers in India are reeling under a global shortage of semiconductors, the country's electric vehicle (EV) makers, too, are now facing a shortage of lithium-ion batteries, a key raw material. The soaring prices of metals like lithium, nickel and cobalt, which are the primary constituents of the cell, as well as supply chain bottlenecks, are also pushing up the cost of batteries. Battery manufacturers say that prices have been increasing every quarter since the beginning of 2021.
Both Houses of Parliament witnessed multiple adjournments on Monday as opposition MPs continued their protest over the Pegasus snooping row and other matters. Amid ruckus by the Opposition, the Rajya Sabha passed the Inland Vessels Bill-2021 while the Lok Sabha passed the General Insurance Business (Nationalisation) Amendment Bill with voice-vote.
Economic performance is affected if large numbers of people are out of work, or at such low levels of income as to force under-consumption, observes T N Ninan.
'There's also a possibility of the cyclonic system changing its course, thus avoiding a landfall in Odisha'
Teams of the National Disaster Response Force started landing in Gujarat with the help of the Indian Air Force to undertake preventive evacuation of people living on the west coast, an IAF official said.
Reports suggest that Russia's biggest oil company, Ukraine's international airport as well as global shipping firm AP Moller-Maersk have been impacted by the attack.
Vijender and Losan will square off on March 19 in a super middle-weight (76kg) showdown in Goa
'The wise men learn lessons in war.' 'The smart men learn lessons from others, it's only the foolish who learn the wrong lesson.'
Typhoon Meranti, stated to be the world's strongest typhoon so far this year, made landfall in east China's Fujian Province early Thursday, causing widespread destruction.
In less than a week's time, a fourth submarine cable was severed in West Asia, disrupting voice and telecommunication traffic between Qatar and the United Arab Emirates (UAE).
In spite of being attacked from all corners, a faltering supply chain and negative sentiments soaring high among the local consumers, top Chinese smartphone brands gained market share during the most critical phase - the April-June quarter of this year.
Anahat Singh seals berth for World Junior Squash C'ship after topping selection trials
We should be relieved that we got the doses but we must also know where they came from and who was and who was not responsible for this achievement, notes Aakar Patel.
Scaling up their protest against loading of fuel at the Kudankulam Nuclear Power Plant, anti-nuclear activists and fishermen on Saturday laid siege to the port in Tuticorin but work was not disrupted, officials said.
"Numerous rounds of talks have taken place with the Chinese counterparts to deescalate the situation without compromising on India's stand of 'complete disengagement and immediate restoration of status quo ante'," the defence ministry said.
If not contained quickly, it will have a knock-on effect in the world economy and disrupt global supply chains, Crisil analysts warned.
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