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 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.
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.
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.
Recording growth for the seventh month in a row, India's exports rose by 48.34 per cent to $32.5 billion in June on account of healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, even as trade deficit stood at $9.37 billion, according to the official data.
Subramanian said various reforms undertaken by the government in sectors such as agriculture, labour, export PLI scheme, change in MSME definition, creation of the bad bank, privatisation of public sector banks among others, are going to push growth.
According to a ‘Mood of the Consumer 2021’ survey conducted by LocalCircles, a community engagement forum, 47% of the respondents now expect uncertainty with respect to household budget planning to last six to 12 months.
The survey added that vaccination holds the key to mitigating the impact of the second wave on economic activity and boosting consumer sentiment.
The government is also working on an incentive scheme to promote manufacture and use of flex engines in vehicles. The details would be specified when policy in this regard is unveiled.
Interestingly, increasing women in blue-collar jobs by even a nominal 10 per cent has the potential to add $770 billion to Indian GDP by 2025-26.
Members can access these services including creating pickup requests, preparing shipments, and making online payments through a dedicated Aramex banner on the FIEO website.
About 15.9% of loans less than Rs 25 crore to the MSME sector for public sector banks has turned bad as of March 2021, rising from 13.1% in December 2020, according to the Financial Stability Report of RBI.
Registering 48.1 in June, below May’s 50.8, the IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) was below the critical no-change mark of 50 for the first time since July 2020.
Corporate loan demand has stayed in the negative territory in May even as retail loan offtake is accelerating. Banks are raising capital to tap the expected loan surge from the retail segment as the pandemic ebbs.
Envision was founded in 2007 after its founder Zhang Lei returned to China from the UK. Zhang, a former energy analyst, aims to build "infrastructure for a net zero world," according to a company report.
“We are setting up more supply chains in India and many of our business divisions have started exporting out of the country,” says Sanjeev Sharma.
| Name | DIN | Designation | Date of joining | |
|---|---|---|---|---|
| Ramamurti Lakshmi Narayana Rao | Unlock to View | Unlock to View | Director | 08 May,2009 |
| Rajesh Vasudev Shetty | Unlock to View | Unlock to View | Director | 29 Mar,2007 |
| Vasundhara Karun Sanghi | Unlock to View | Unlock to View | Director | 16 Dec,1995 |
| Karun Krishna Sanghi | Unlock to View | Unlock to View | Managing director | 10 Dec,1990 |
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