Finance Minister Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Thursday said the ongoing process of rationalizing customs duties and withdrawing the 6 per cent equalisation levy, which began in 2023, is independent of any global events and will continue. Sitharaman said customs duty reductions are part of India’s broader objective to strengthen its manufacturing hub… Continue reading Customs duty cuts, levy withdrawals an ongoing process, not linked to global events: FM Sitharaman
Author: Economic Times of India Online News
Global automakers say Trump’s tariffs will be painful for them and US consumers
The auto tariffs will be felt sharply in Europe, for whom the U.S. is the biggest export market for an industry that supports nearly 14 million jobs. Whatever domestic economic gain comes from U.S. President Donald Trump‘s new 25per cent tax on imported cars – and experts are skeptical – automakers around the world are… Continue reading Global automakers say Trump’s tariffs will be painful for them and US consumers
Auto sales in March to remain positive for 2Ws and PVs, CVs sales may decline, says Nuvama Report
The report added that despite muted customer sentiment, the 2W and PV segments are anticipated to show low single-digit growth. Vehicle sales growth in March 2025 is expected to remain positive for two-wheelers (2Ws) and passenger vehicles (PVs), while commercial vehicles (CVs) may see a marginal decline, according to a report by Nuvama. The report… Continue reading Auto sales in March to remain positive for 2Ws and PVs, CVs sales may decline, says Nuvama Report
bp announces exit from Austria retail fuel market, sale to complete by end of 2025
This decision follows bp’s earlier announcements of similar divestments in the Netherlands in 2023, Turkey in 2024, and Switzerland in 2022. bp on Thursday announced plans to sell its mobility and convenience business in Austria, including more than 260 retail sites, its Austrian fleet operations, electric vehicle charging assets, and its stake in the Linz… Continue reading bp announces exit from Austria retail fuel market, sale to complete by end of 2025
PLI Auto scheme driving investments, employment, growth: Ministry of Heavy Industries
The PLI Auto scheme has been responsive to the dynamic needs of the industry. The Union Cabinet has approved PLI scheme for automobile & auto components on 15.09.2021 with a budgetary outlay of ₹25,938 crore. The PLI-Auto scheme envisages to overcome the cost disabilities to the industry for manufacturing and boost domestic manufacturing of advanced… Continue reading PLI Auto scheme driving investments, employment, growth: Ministry of Heavy Industries
12% safeguard duty on flat steel imports could raise prices by ₹6,000 per tonne: Ind-Ra
According to Ind-Ra, the safeguard duty will allow domestic steel prices to rise by up to 13.2 per cent , factoring in the 12 per cent duty and 10 per cent cess, based on February 2025 price levels. New Delhi: Domestic steelmakers may get pricing headroom of up to ₹6,000 per tonne on hot rolled… Continue reading 12% safeguard duty on flat steel imports could raise prices by ₹6,000 per tonne: Ind-Ra
JLR exports: TaMo shares worst hit in India’s mo-town
Updated On Mar 28, 2025 at 08:18 AM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals On the NSE, Nifty gained 105 points to 23,592 points. Some auto and ancillary stocks saw strong selling on Thursday after the US imposed a 25% import tariff on these products, effective May 2025. Tata Motors,… Continue reading JLR exports: TaMo shares worst hit in India’s mo-town
BP to sell over 260 retail stores, EV charging assets and more in Austria
The scope of sale includes more than 260 retail sites across the country, its associated Austrian fleet business, EV charging assets and BP’s shares in the company operating the Linz fuel terminal non-operated joint venture. BP said on Thursday it plans to sell its mobility and convenience business in Austria, as the oil giant reshapes… Continue reading BP to sell over 260 retail stores, EV charging assets and more in Austria
Exicom and IONAGE collaborate to develop unified EV charging network in India
The combination of Exicom’s hardware and IONAGE’s software will provide a plug-and-play solution that simplifies EV charging for businesses, fleets, dealerships, and individual users. Exicom, a manufacturer of EV charging and critical power solutions in India, has announced a partnership with IONAGE, an EV charging software platform provider. The collaboration aims to establish a neutral… Continue reading Exicom and IONAGE collaborate to develop unified EV charging network in India
Wardwizard expands fleet operations, enters ride-hailing sector
“The noteworthy success of our Hyderabad deployment has proven the efficiency and reliability of our integrated fleet solutions. Wardwizard Innovations & Mobility, operating under the brands ‘Joy e-bike’ and ‘Joy e-rik’, is expanding its fleet operations by deploying 400 electric two-wheelers in Kolkata, Pune, and Ahmedabad. This follows the successful deployment of 100 electric two-wheelers… Continue reading Wardwizard expands fleet operations, enters ride-hailing sector