The crunch in domestic availability of Carbon Black has reached such an extent that several domestic tyre companies have been forced to take unplanned shutdowns in the recent past for want of this essential raw material.
If e-vehicles showcased by OEMs at the Auto Expo got the cynosure of all eyes, it is another concept that is fast catching up – ‘bring the showroom home’.
With India fast emerging as one of the top three automotive markets, the world safety standards body, Global New Car Assessment Programme (GNCAP), has announced setting up of a safer choice award for Indian car manufacturers achieving the highest safety performance and also set terms and conditions for getting the award.
Better farm income realisation, allocations for APMCs (agricultural produce market committees), thrust on rural developments, focus on roads and highways with higher allocation, and measures to boost MSMEs in the Budget are expected to benefit two-wheelers, tractors, auto components industries. Though the proposed increase in the customs duty to 15% from 10% on imports of […]
Budget 2018: The automotive industry has lined up a number of issues to be looked into by the finance minister in the Budget. The issues include cut in GST rates on electric vehicles, incentives to companies to invest in R&D of EVs, subsidies on battery and lithium imports.
Exports jumped sharply to witness a 30.27% growth to end at 282,901 units, against 217,166 units in the same period last fiscal, showed SIAM data.
UAE-headquartered KEF Infra, a pre-fabricated (prefab) building manufacturer with its plant at Krishnagiri in Tamil Nadu, has decided to set up end-to-end manufacturing plants in Hyderabad, Lucknow and Mumbai with an estimated investment of $300 million over the next two years to capitalise on the increasing demand for its prefab buildings across sectors.
Apollo Tyres is setting up a new modern greenfield facility at Chittoor district of Andhra Pradesh with an initial investment of Rs 1,800 crore to initially manufacture passenger vehicle radial tyres and consequently commercial vehicle and off-road tyres.
With almost all tractor manufacturers, including majors Mahindra & Mahindra, Sonalika and Escorts, posting double-digit growth in the nine-month period ended December, the industry expects to surpass the previous sales high of 6.3 lakh units in FY2014, and clock sales of 6.5 lakh units in the current fiscal (against 5.82 lakh units reported in FY2017), said industry sources.
The textiles industry, which has been struggling due to increasing competition from the neighbouring countries like Bangladesh, Indonesia and Vietnam, coupled with rising imports into India and other domestic issues like GST, is now feeling the pinch of a strengthening rupee.
India’s largest knitwear and readymade garment exporters organisation, Tirupur Exporters’ Association (TEA), has sought exemption of the IGST levy on imports of accessories, early clearance of accumulated input tax credits, permanent deletion of Reverse Charge Mechanism (under Section 9(4) of GST) and incentives for investments made in labour accommodation infrastructure.
Demonetisation, regulatory changes and uncertainty over GST are cited as the key factors that led to the sluggishness. PEs/VCs made investments worth $35 million in the auto sector in 2017 as compared with $138 million in 2016.
Boosted by exports, the three-wheeler industry has reported a 7% rise in sales for the April-November period of this fiscal to touch 623,815 units, compared with 583,140 in the comparable period of the previous year.
Hit hard by the regulatory actions such as demonetisation and changes in emission norms, the domestic three-wheeler sales in the first six months of current fiscal (April-September) saw a decline of 10%.
Confusion over continuation of the duty drawback scheme, sharp decline in Rebate on State Levies (ROSL), prolonged uncertainty over GST rates on knitwear/woven garments coupled with intense competition from neighbouring countries have impacted the exports of readymade garments (RMG) at national level, including at Tirupur, the knitwear capital of India in the first half of the current fiscal.
TKM said it is difficult to cut down the waiting period for the Innova Crysta and Fortuner, its UVs, at least for a few more months as its Bengaluru plant has reached its maximum capacity utilisation of 95%.
BMW India is set to launch its new 300cc motorbike in association with TVS Motor next year. The company also plans to introduce its 6-Series Grand Turismo and the new X3.
Led by Ford India, the passenger vehicles export for the first four months of the current fiscal grew 12% to 247,047 units as compared to 220,619 units in the same period last fiscal.
Nearly 2,000 working units of the knitwear/readymade garment cluster in Tirupur, employing more than a lakh people, have called for a day’s strike on Friday to protest against the GST Council’s decision to place them under the 18% slab.
Ratan Tata-backed electric bike company Ampere Vehicles is setting up an electric cycle factory in Coimbatore to cater to both domestic and international markets.
The Odisha government’s new textile/apparel policy may see the light of day with some member companies of India’s largest knitwear/readymade garments cluster — Tirupur Exporters’ Association — evincing interest.
French car major Renault got zero star for the basic version of its passenger vehicle, the Indian Duster.
The Tirupur cluster of garment units has caught the attention of states such as Telangana and Odisha, which plan to replicate some of the successes of the textile town.
Ford Motor’s Aspire (nextgen Figo) model has been awarded a 3-star rating for its adult occupation protection and 2 stars for child protection.
In an exclusive interview with R Ravichandran, N Raja, senior vice-president and director (sales & marketing), shares the company’s immediate plans to improve the situation.
The new plant, the first to be set up outside India, will be an aluminium die-casting facility. We decided on this project due to the repeated requests from our customers for near-shore presence
Higher fund allocation for labour skilling and end-to-end logistics solutions, including rail and coastal shipping last-mile connectivity, will help the country’s textile industry to achieve the $350-billion target in next few years as set by the union government, industry experts have said.