The monsoon’s progress in the coming weeks holds the key to farm incomes and rural demand at a time when manufacturing and services sectors have suffered due to the coronavirus pandemic. Agriculture accounts for about 18% of India’s economy. Poor monsoon showers are threatening India’s nascent economic recovery and could make food even more expensive… Continue reading Patchy monsoon rain raises growth and inflation worries in India
Author: Economic Times of India Online News
Automovill raises USD 500,000 in bridge round led by Mumbai Angels Network
New Delhi: Full-stack mobility startup Automovill on Tuesday said it has raised USD 500,000 in a bridge round from Mumbai Angels Network, along with its existing investor NEDFi Venture Capital. The round is led by Jay Nagrecha, and Sandeep Daga participating through Mumbai Angels Network. Including the current fundraise, the startup has raised a total… Continue reading Automovill raises USD 500,000 in bridge round led by Mumbai Angels Network
Trinamool welcomes Tatas to make big investments in Bengal
But after returning to power for a third time this year, Banerjee and her party have prioritised big ticket investments in manufacturing, taking a clue from neighbouring Bangladesh. New Delhi: More than a decade after forcing them to shift their planned car factory from Singur, the Trinamool Congress government in West Bengal has welcomed the… Continue reading Trinamool welcomes Tatas to make big investments in Bengal
Running low on battery power: Brexit Britain faces an acid test
By Nick Carey and Barbara Lewis New Delhi: Britain has set a fast pace in the electric vehicle race with its 2030 ban on sales of new fossil fuel-powered cars and has offered 1 billion pounds ($1.4 billion) to jump start its battery industry and associated supply chain. But the cash and the headline-grabbing deadline… Continue reading Running low on battery power: Brexit Britain faces an acid test
GM planning electric GMC pickup as part of $35 billion EV push
New Delhi: General Motors Co. is developing an electric pickup for its premium GMC truck and sport utility brand. The Detroit automaker’s EV plans will accelerate later this year as a Hummer pickup and Cadillac Lyriq sport utility vehicle begin rolling off its production lines, the company confirmed Monday. An electric Chevy Silverado pickup also… Continue reading GM planning electric GMC pickup as part of $35 billion EV push
Relief to small companies: Relaxations in compliance with accounting standards
These amendments follow the recent changes made by the government to the Micro, Small and Medium Enterprises Development Act, 2006 wherein the upper cap of turnover for the purpose of registration was enhanced for micro, small and medium enterprises. The government, in continuation of its theme as regards ease of doing business, has increased the… Continue reading Relief to small companies: Relaxations in compliance with accounting standards
India’s strong fundamentals, market size will continue to attract foreign investments: FM
According to the World Bank’s Global Economic Prospects June 2021, she said, global growth for 2021 has been revised upward to 5.6 per cent, largely due to the sharp rebound in major economies driven by continued vaccination and substantial fiscal support. India is expected to grow at a significantly faster rate compared to the global… Continue reading India’s strong fundamentals, market size will continue to attract foreign investments: FM
Policy transmission improves post external benchmarks
The study notes that a combination of surplus liquidity conditions amidst weak credit demand has enabled banks to lower their deposit rates and hence the lending rates. Transmission of policy rates through both lending and deposit rates improved since the Reserve Bank introduced external benchmark linked lending rate, according to study by RBI economists. The… Continue reading Policy transmission improves post external benchmarks
Technopark-based company Acsia Technologies to hire 200 employees
Started in 2014, Acsia Technologies Pvt Ltd is currently working on multiple core sectors of a software-defined car ecosystem with the world’s leading carmakers and Tier1 suppliers. Their focus on quality processes and technology are helping the automotive companies in their transition from hardware-oriented cars to software-defined cars. Acsia Technologies, a Technopark-based company, will soon… Continue reading Technopark-based company Acsia Technologies to hire 200 employees
Stellantis ropes in Renault CEO Uwe Hochgeschurtz as head of Opel Brand
New Delhi: German automaker Stellantis recently appointed Uwe Hochgeschurtz as the CEO of Opel Brand with effect from September 1, 2021, the automaker said in a media release. The latest announcement comes when Stellantis is expanding its commercial activities, including in China, and entering the electrification era. Hochgeschurtz, who currently holds the position of CEO… Continue reading Stellantis ropes in Renault CEO Uwe Hochgeschurtz as head of Opel Brand