This report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here. The big story The Federal Reserve is almost certain to start its rate-cutting cycle next week. Historically, a … Read more
New Delhi: The Society of Indian Automobile Manufacturers (SIAM) and big auto players have hailed the Cabinet decision of PM e-DRIVE schemes aimed at promoting electric mobility across the country. The Rs 10,900 crore scheme will support 2,479,000 electric 2-wheelers, 316,000 electric 3-wheelers and 14,028 electric buses, along with 88,500 EV charging sites. Shailesh Chandra, … Read more
New Delhi: India and the US are working together towards becoming self-reliant in critical minerals, strengthening supply chains and adopting cutting-edge technologies, commerce and industry minister Piyush Goyal said Wednesday, adding that he will visit Washington early next month for the India-US CEO Forum. “With both of us suffering a common source of concern.. common … Read more
Maruti Suzuki is planning to export electric vehicles (EVs) from India to markets in Europe and Japan, reported PTI citing MD and CEO Hisashi Takeuchi on Tuesday. He said that the automaker will have a high-specification EV with a high-range of 500 km and would be powered by a 60 Kilowatt-hour battery. The remarks came … Read more
Prime Minister Narendra Modi on Tuesday asked the automotive industry to bring global best practices to India, while working on green and clean mobility. In a written address to the annual convention of the Society of Indian Automobile Manufacturers (SIAM), Modi said the automotive industry will drive even higher economic growth and in turn, thrive … Read more
The government has received investment proposals worth around Rs 75,000 crore under the auto PLI scheme of which close to Rs 18,000 crore has already been invested, Union heavy industries minister H D Kumaraswamy said on Tuesday. Speaking at the 64th Annual SIAM convention here, the minister said the scheme has helped create around 30,000 … Read more
Indian currently has 63 operational scrapping centres, 60 are under construction, and 40 in the pipeline, which is much lesser than what is needed according to the automobile population of India, said Union Minister for Road Transport & Highways Nitin Gadkari in a convention held by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday. … Read more
Turkish Foreign Minister Hakan Fidan attends the BRICS+ session on a two-day BRICS foreign ministers summit held in Nizhny Novgorod, Russia on June 11, 2024. Sefa Karacan | Anadolu | Getty Images Turkey’s request to join the BRICS alliance is a move seen as both strategic and symbolic as the Eurasian country of 85 million … Read more
LONDON — European stocks closed lower Friday afternoon, paring earlier gains after a weaker than expected U.S. jobs report clouded global sentiment. The pan-European Stoxx 600 closed down 1.15%, with all major bourses and almost all sectors ending in the red. Tech and mining stocks saw the biggest losses, shedding 2.39% and 2.41%, respectively. Health … Read more
This report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here. The big story Indian stocks reached dizzying heights this week with a record-breaking 14-day rally. Equities also … Read more
