India’s jobless rate fell to the lowest level in four months in July, adding to signs of a nascent recovery in the economy where sales tax collections and demand for some commodities have signaled a rebound. The unemployment rate dropped to 6.95% last month from 9.17% the previous month, according to latest data from private research firm Centre for Monitoring Indian Economy Pvt.
ONGC already has a preliminary agreement with US-based ExxonMobil for partnership in the exploration sector. ExxonMobil is currently studying Indian geological data to finalise exploration opportunities.
The EV6 is Kia's first model embedded with Hyundai Motor Group's own EV-only electric-global modular platform.
Industry estimates that carmakers dispatched around 290,000 passenger vehicles last month, up from 197,791 units in July 2020. Automakers in India report wholesale dispatches from factories and not retail sales made by dealers.
"The production for the 64 countries reporting to the World Steel Association (worldsteel) was 167.9 MT on June 2021, an 11.6 per cent increase compared to June 2020, " the global industry body said in its latest report.
The company's LG Energy Solution business, a supplier of batteries used in EVs made by General Motors Co and Tesla Inc, has thrived on growing demand for such cars in Europe and the United States. But analysts have said a months-long chip shortage that hit global auto production has recently weighed on LG Chem's profit.
“A glance at the FY21 data suggests that some of the major export destinations for India’s top 10 major commodities are also the regions which are expected to witness strong import growth in 2021,” the ratings agency said.
The JV will help Hyundai Motor Co and its sister company Kia Corp secure a stable supply of EV batteries at a competitive price for their battery electric vehicles.
Hyundai noted that support from the government in terms of taxation and creation of country-wide charging infrastructure were the two most critical factors to grow the EV segment in India.
The industry registered a growth of 65% during January-June of 2021 compared to the previous year despite the second wave of Covid-19 impacting sales for a couple of months, said Deepak Shetty, managing director, JCB India.
The company says that the mega office is a green complex with open spaces with a massive vertical garden at the atrium and 14 EV chargers installed in the parking lot. The building is earthquake five-zone compliant too.
The country's gross domestic product (GDP) growth is likely to be 8.8 to 9 per cent in the current financial year, driven by agriculture and industry sectors, Care Ratings said in a report.
Crude oil imports also fell to a 9-month low in June as refiners curtailed purchases amid higher fuel inventories due to low consumption and renewed lockdowns in the previous two months, data obtained from trade sources showed.
The forecasts are focused on the organized labor sector, which accounts for less than 20% of the workforce. Much of the informal labor isn’t captured in surveys.
Other luxury automakers in India have also lobbied the government in the past to lower taxes on imported cars but have had little success due to opposition from rivals with domestic operations.
Hyundai is also offering 50 per cent discount on depreciation amount of insurance claims and one-year complimentary road-side assistance (RSA) for vehicles affected by this unfortunate event of heavy rainfall and water-logging.
The Directorate of Revenue Intelligence (Mumbai wing) seized a Nissan Patrol SUV worth around Rs 1 crore from Malakpet in connection with a luxury car smuggling racket using diplomatic privileges to evade customs duty. The vehicle was registered in Manipur in the name of a realtor from Malakpet.
Volkswagen is following a phase-wise approach and it has implemented 30 touchpoints in phase-I and plans to complete the remaining touchpoints in phases in 2021.
A record bout of fundraising and a slew of upcoming startup IPOs has shifted focus to Indian technology startups even as investors are spooked by China’s crackdown on its own tech companies.
India's year-on-year engineering goods exports rose by 52.4 per cent during June 2021.
| Name | DIN | Designation | Date of joining | |
|---|---|---|---|---|
| Chungmin Kim | Unlock to View | Unlock to View | Additional Director | 18 Jul,2018 |
| Ryu Jae In | Unlock to View | Unlock to View | Additional Director | 16 Jul,2018 |
| Heungsub Oh | Unlock to View | Unlock to View | Managing Director | 30 Jan,2017 |
| Narmadha Dinakaran | Unlock to View | Unlock to View | Director | 27 Mar,2015 |
| Bhaskar Swaminathan | Unlock to View | Unlock to View | Director | 27 Mar,2015 |
| Ha Kyo Bin | Unlock to View | Unlock to View | Director | 10 Jan,2014 |
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