Both homegrown auto makers Tata Motors and Mahindra & Mahindra raised their investment plans. Mumbai: As the economy gains momentum and vehicle output witnesses a new record, the automotive market is leading the pace of growth in manufacturing capex in FY23. The automotive market capex is set to cross $3 billion, or ₹27,000 crore, in… Continue reading Auto companies capex set to cross $3 billion in FY23
Author: Economic Times of India Online News
Ford on track to ramp up to 600K run rate by 2023 and 2M+ by 2026
New Delhi: American multinational automobile manufacturer Ford Motors Company on Thursday announced a series of initiatives for sourcing battery capacity and raw materials to achieve its targeted annual run rate of 600,000 electric vehicles by late 2023 and more than 2 million by the end of 2026. The company expects a compound annual growth rate… Continue reading Ford on track to ramp up to 600K run rate by 2023 and 2M+ by 2026
3M’s Make-in-India solution for managing NVH levels in new EVs and Hybrid vehicles
As the world transitions towards new mobility platforms such as Electric Vehicles and Hybrid Vehicles, component requirements are also seeing a shift in several aspects. Today, automotive component manufacturers are focusing on producing intelligent solutions that enhance the mobility experience of today’s vehicles in terms of drive, ride comfort, user interface, entertainment and more. One… Continue reading 3M’s Make-in-India solution for managing NVH levels in new EVs and Hybrid vehicles
Next pain point for rupee is $79 billion of unhedged debt
Indian companies are rushing to hedge their overseas dollar debt against further declines in the rupee, a process that threatens to cascade into additional losses for the battered local currency. The nation’s firms had $79 billion of unhedged offshore loans at the end of March, about 44% of their total overseas borrowings, according to the… Continue reading Next pain point for rupee is $79 billion of unhedged debt
With $87 billion, India top remittance recipient in 2021: UN report
In 2021 the top five remittance recipients in current US dollars were India, China, Mexico, the Philippines and Egypt. India received 87 billion dollars in remittances in 2021, the top remittance recipient, and way ahead of countries like China and Mexico, according to a World Health Organisation report released on Wednesday. The first WHO World… Continue reading With $87 billion, India top remittance recipient in 2021: UN report
US, allies agree to work to improve supply chains
WASHINGTON: The United States and 17 allies have agreed to work together to improve and diversify global supply chains to avoid the shortages that plagued the economy during the pandemic, officials said Wednesday. US Secretary of State Antony Blinken and Commerce Secretary Gina Raimondo co-hosted the Supply Chain Ministerial Forum on Tuesday and Wednesday. China… Continue reading US, allies agree to work to improve supply chains
Expect fiscal slippage of 0.4% in FY23: Nomura
INR The Centre’s reversal on windfall taxes within 18 days of announcing the moves led a Japanese brokerage to flag its impact on fiscal math. Nomura said the reversal makes it maintain the earlier projection for a 0.4% fiscal slippage over the budgetary target of 6.4% for FY23. The Centre on Wednesday scrapped a three-week-old… Continue reading Expect fiscal slippage of 0.4% in FY23: Nomura
Inflation, GST on more items take toll on Parliament proceedings
New Delhi: Parliament failed to conduct any worthwhile business on Wednesday, the third consecutive day in this monsoon session, amid noisy protests from opposition members demanding a discussion on “spiralling” inflation and the imposition of the Goods and Services Tax on more items. In the Lok Sabha, high pitch sloganeering from the opposition members foiled… Continue reading Inflation, GST on more items take toll on Parliament proceedings
Slide may hit anti-inflation moves, put pressure on current a/c deficit
NEW DELHI: The rupee’s slide may have some implication for inflation management. But overall, the macroeconomic fundamentals of the economy remain robust to deal with short-term shocks. For now, the most crucial impact would be on inflation as the country imports nearly 80% of its crude oil needs. This would mean that imports would become… Continue reading Slide may hit anti-inflation moves, put pressure on current a/c deficit
Six Pvt. cos. establish ‘Research Association’ for biomass-based auto fuels
Representative Image New Delhi: ENEOS Corporation (ENEOS), Suzuki Motor Corporation (Suzuki), Subaru Corporation (Subaru), Daihatsu Motor Co. Ltd. (Daihatsu), Toyota Motor Corporation (Toyota), and Toyota Tsusho Corporation (Toyota Tsusho) today announced the establishment of the Research Association of Biomass Innovation for Next Generation Automobile Fuels (Research Association) on July 1, 2022, to study ways to… Continue reading Six Pvt. cos. establish ‘Research Association’ for biomass-based auto fuels