Fri, Jan 21, 2022
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Budget FY23: EV makers seek incentives for exports, PLIs to small players
Published On: Jan, 20, 202210:52 PM
The Society of Manufacturers of Electric Vehicles (SMEV) has requested the Centre to provide some incentives -- in the form of subsidies -- on exports of affordable small cars and scooters from India...
The electric mobility sector is a large space that Indian industries can capture before international players invade the market with cheaper contraptions , SMEV DG, Sohinder Gill, said. These are part of SMEV's pre-Budget recommendations to the Centre. Around the world, the craze for bigger SUVs and higher-powered motorcycles is slowly veining towards compact and smaller electric cars and scooters. Thus, wonders can be done in affordable small cars and scooters segment, just as they are in internal combustion engine vehicles, Gill said. Also, SMEV sought amendment in the PLI scheme by qualifying all MSMEs in the automobile and auto components making business. While the PLI scheme will certainly have incentives for the large players, it is also creating an unfair price disadvantage for small and medium-sized EV players in the industry... -
Walmart invites Indian sellers to expand overseas via its US marketplace
Published On: Jan, 20, 202210:52 PMRetail giant Walmart on Thursday announced that it is now inviting select Indian sellers to apply to join Walmart Marketplace, a curated sellers community that serves more than 120 million US shoppers...
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RIIL's Q3FY22 YoY standalone net profit up 2.2 pc
Published On: Jan, 20, 202210:42 PM
Reliance Industrial Infrastructure Ltd (RIIL) on Thursday reported a rise of 2.2 per cent in its standalone net profit for the third quarter (Q3) of 2021-22 financial year on a year-on-year basis.
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Gold prices may touch USD 2,000 per ounce in 12-15 months: MOFSL
Published On: Jan, 20, 202210:39 PM
Rising crude oil prices along with Covid-led supply chain disruptions as well as geo-political tensions and inflationary pressures are likely to lend support to gold, Motilal Oswal Financial Services...
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Havells India's Q3FY22 net profits fall 12 pc
Published On: Jan, 20, 202210:07 PM
Electrical appliance maker Havells India reported net profits of Rs 306 crore during Q3FY22, down 12.3 per cent as compared with the same quarter last fiscal.
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Sony wants Microsoft to ensure that Call of Duty stays across platforms
Published On: Jan, 20, 202209:48 PM
Japanese technology giant Sony, which saw its stock tanked after Microsoft acquired gaming company Activision Blizzard for $69 billion, on Thursday said it expects Satya Nadella-run tech giant to...
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Air India to commence normal ops to US from Friday
Published On: Jan, 20, 202209:44 PM
National carrier Air India will commence normal operations to US from Friday, the airline said.
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Spices Board launches first online portal for exports
Published On: Jan, 20, 202207:50 PM
Union Minister of State for Commerce and Industry Som Parkash on Thursday launched 'Spice Xchange India', the country's first virtual platform for spice exports at a hybrid event held here.
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IRDAI chairman position lying vacant since May 2021, officials seek additional powers
Published On: Jan, 20, 202204:31 PM
Is there a need for a Chairman for Insurance Regulatory and Development Authority of India (IRDAI) is the question that has started popping up.
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Budget FY23: Reduce central excise on ATF to 5pc, says IndiGo
Published On: Jan, 20, 202212:32 PM
Airline major IndiGo on Wednesday urged the Centre to reduce central excise on jet fuel to 5 per cent from 11 per cent in the Union Budget FY23, to be tabled in the Parliament on February 1.
