India far behind China in bicycle exports
Despite being the second-largest market in the world, bicycle exports from India is miniscule as compared to China. Out of nine crore bicycles produced in China every year, six crore are exported across the world. However, India exported only 7.82 lakh bicycles in 2019-20. Manufacturers are of the view that the imposition of anti-dumping duty […]
India’s airline industry seen racking up $8 billion in Covid losses over two years
India’s aviation industry faces pandemic-induced losses totalling some $8 billion for this year and last and is “standing on the edge of a cliff,” the CAPA Centre for Aviation warns in its yearly industry outlook. “We have run out of words to describe the state of Indian airlines,” CAPA says tersely in its India Airline […]
Mercedes Benz India to directly sell cars to customers
Mercedes Benz India is changing the way it will sell cars in India. It will directly sell its vehicles to customers with its dealerships facilitating the process with brand experience, displays in the showrooms, sales consultations and test drives. Mercedes will set a single price all over the country, own and provide inventory and do […]
Google, Jio affordable smartphone initiative underway
Google CEO Sundar Pichai on Thursday said the company continues to engage closely with partner Jio on the initiative of building an affordable smartphone and that work is underway on the project. Last year, Google had picked up a 7.7 per cent stake in Jio Platforms for Rs 33,737 crore. It had also entered into […]
Flipkart to add 8 lakh sq ft warehousing space to strengthen grocery infrastructure
Walmart-owned Flipkart on Tuesday said it plans to expand its fulfilment centre capacity for grocery by more than 8 lakh sq ft over the next three months across Delhi, Kolkata and other cities. The additional fulfilment centre capacity will help Flipkart cater to over 73,000 grocery orders per day, a statement said. “Flipkart plans to […]
Rajasthan: Petrol Pumps Closed As Dealers Demand Rollback Of VAT On Fuel
Rajasthan Petroleum Dealers Association on Saturday called for a one-day strike across the state and demanded a rollback of VAT on fuel in the state. As many as 7,000 petrol pumps remained closed in the state due to the strike. However, fuel pumps that are company-owned and company-operated were open for the public. Association president […]
Rupee surges 18 paise to 73.07 against US dollar in early trade
The rupee appreciated by 18 paise to 73.07 against the US dollar in opening trade on Tuesday supported by positive domestic equities. At the interbank forex market, the local unit opened at 73.16 against the US dollar, then inched higher to 73.07 against the greenback, registering a rise of 18 paise over its previous close. […]
Mobile firms urge govt to create policies to compete with countries not companies
Mobile manufacturers on Friday requested the government to come up with policies that focus on competition with countries and not companies, sectoral industry body ICEA said in a statement. Addressing a webinar on production linked incentive scheme on Friday, Prime Minister Narendra Modi said the scheme, aimed at boosting domestic manufacturing and exports, is expected […]
Finance ministry considering cutting excise duties on petrol and diesel
India’s finance ministry is considering cutting excise duties on petrol and diesel to cushion the impact of record high domestic prices, three government officials close to the discussions said. A doubling in the price of crude oil over the past 10 months has contributed to record fuel prices in the country. But taxes and duties […]
Govt approves Rs 12,000-cr manufacturing push for telecom equipment
The government on Wednesday approved Rs 12,195-crore production-linked incentive (PLI) scheme for telecom gear manufacturing in India which is expected to encourage production of equipment worth Rs 2.44 lakh crore and create direct and indirect employment for about 40,000 people, Union Minister Ravi Shankar Prasad said. The PLI scheme for telecom gear manufacturing will be […]