Auto dealers eye festival demand with caution

Retailers also stocking up due to supply chain uncertainties Notwithstanding the fact that retail automobile sales do not yet reflect the buoyancy seen in wholesales, automobile dealers are building up inventory in anticipation of some demand recovery in the festive period amid an uncertain supply chain, said Vinkesh Gulati, President, Federation of Automobile Dealers Associations […]

Auto parts makers urged to cut imports

Gadkari tells ACMA to look for substitutes; no rationale to import components like gear boxes: Kant Stating that India’s auto sector had the potential to be the top global manufacturing hub, Road Transport and Highways Minister Nitin Gadkari on Saturday asked domestic automobile component makers to develop products locally and reduce dependence on imports. “I […]

Louisiana faces long power outages after Hurricane Laura, oil output still low after storm

In Hurricane Laura-hit Louisiana, clean water access is ‘biggest challenge’ for some: State AG Louisiana Attorney General Jeff Landry discusses how his state is faring following Hurricane Laura and whether the coronavirus affects recovery. As the cleanup gets underway in Louisiana from Hurricane Laura, the state's governor warned Sunday that a long recovery is ahead […]

Have good company for your insurance journey?

India even has digital insurance companies with little physical infrastructure or network, offering their products and services only in cyberspace. In the last decade and a half, the insurance industry has significantly widened its channels of distribution. Earlier there were only agents selling personal insurance. Now, not only has the number of agents boomed, several […]

Former IOC Chairman Sanjiv Singh joins Reliance as gGroup president

Former Indian Oil Corp (IOC) chairman Sanjiv Singh has joined Reliance Industries Ltd. (RIL) as group president for billionaire Mukesh Ambani-run firm’s oil-to-chemicals business. A communication by RIL Executive Director Hital R. Meswani to the company employees said Mr. Singh, who superannuated from India’s largest oil firm on June 30, will be a member of […]

412 infra projects show cost overruns of ₹4.11 lakh crore: report

Of the 1,683 projects monitored by the Ministry of Statistics and Programme Implementation, 412 reported cost overruns and 471 time escalation As many as 412 infrastructure projects, each worth ₹150 crore or more, have been hit by cost overruns of over ₹4.11 lakh crore owing to delays and other reasons, according to a report. The […]

‘Shipments to China driving export recovery’

Asian economies leading uptick: Crisil The improvement in the country’s export numbers in July was led by a 78% spike in shipments to China and other Asian economies that had successfully contained the pandemic, Crisil said in a report. These destinations constitute 16% of the overall exports basket. The contraction in exports narrowed to -10.2% […]

‘Lockdown led to surge in sewing machine demand’

People making masks to beat stress: Usha The COVID-19-led lockdown has forced several people to diversify into areas of work that weren’t their core focus, according to an official of Usha International. This is one of the reasons for an increase in the sales of home sewing machines. People have taken up sewing either as […]

Defer statutory dues for pandemic-hit tourism, urges CII

Industry body also wants hotels opened without time curbs To mitigate the impact of the COVID-19 pandemic on the tourism sector, the Confederation of Indian Industry (CII) has made recommendations including waiver of fixed charges, deferment of statutory dues, and allowing all hotels to remain open without time restrictions. “With the new guidelines issued under […]