We are going to bring in a policy to promote use of alternative fuel: Gadkari
The Dollar Business Bureau With a view to bringing down logistics cost and pollution levels, the Government has decided to bring a policy for promoting the use of alternative fuel, Road Transport and Highways Minister Nitin Gadkari said on Thursday, while adding that the logistics cost is quite high in India when compared to China and European countries. “We are going to bring in a policy to promote use of alternative fuel which is indigenous and pollution free as it will help in saving lot of time, bring down logistics cost by 4-6% which is currently about 14-18% unlike in China where it is 10-12% and in European countries where it is 12-14%,” Gadkari said, while inaugurating an event organized by ASSOCHAM in New Delhi. The minister ...
Indian auto industry to grow more than 3.5 times by 2026
By Aamir H Kaki The Heavy Industries Secretary Girish Shankar on Thursday said that the Indian auto industry will grow by 3.5 times, from the output of around Rs.464,000 crores in 2015 to above Rs.16-19 lakh crore by 2026. “We have finalised the next Automotive Vision Plan 2016-2026, as has been the case with the previous one, combined efforts of the government of India and the industry, we chart a growth path that we jointly seek to achieve,” Shankar said, while speaking at the 2nd ASSOCHAM Auto Forum & Awards 2017 in New Delhi. “This Vision Plan also seeks to define the trajectory of the evolution of the automotive eco system in India including deadline of specific regulations and policies that govern a ...
100 years for BMW Group means 100 years of forward thinking, Vikram Pahwa
By Sheela Mamidenna The youngest of the German cars in India, BMW, is fighting back to reclaim its leadership position in India. With its new Indian President and the company’s ‘power to lead’ strategy, BMW India recently launched the newest version of its luxury sedan, the 5 series, on June 29. Locally produced at the BMW Plant Chennai, the all-new BMW 5 Series will be available in diesel and petrol variants at all BMW dealerships across India from 1 July 2017 onwards. With the official implementation of GST on July 1, BMW is hopeful that it will make a strong comeback in India in a segment that accounts for less than 2% in the passenger vehicle market. With BMW, MINI and Motorrad, the BMW ...
India, Latin America hold a business conclave to boost trade
The Dollar Business Bureau India and Latin America organised a business networking seminar on Thursday in Mumbai in order to boost trade and investment between the two regions. The International Conclave on India-Latin America & Caribbean Partnership: Opportunities to Promote Trade and Investment was jointly organised by the Group of Latin America and Caribbean countries (GRULAC) in India, the All India Association of Industries (AIAI) and World Trade Centre Mumbai. The conclave, which was organised for the first time in the commercial hub of Mumbai, was attended by nearly 40 Heads of Missions, overseas experts, investment and trade promotion agencies from LAC, and senior government officials from India and LAC. Trade between India and LAC is expected to reach $100 billion from the current $46 ...
Indo-Russian JVs to build automobiles and aircraft
The Dollar Business Bureau India and Russia have agreed to set up JVs to build aircrafts and automobiles in order to boost the lagging trade and economic ties between the two countries. The Russian President’s positive announcement after the summit concluded at St.Petersburg, summed up the positive developments and growth trajectory that PM Modi’s talks could have had. Putin said, "We both have a stake in consolidating this positive trend. Our talks are always held in a warm and friendly atmosphere, and are always substantive and productive. This time was no exception." Putin said the agreements made in the St Petersburg Declaration outlines steps to further deepen bilateral cooperation in the political, economic and cultural spheres. "Encouraging the growth ...
India imposes definitive ADD on imports of automobile aluminium radiators from China
The Dollar Business Bureau India has imposed a definitive anti-dumping duty of $22.89 on the imports of Aluminium Radiators, Aluminium Radiator Sub-Assemblies and Aluminium Radiator Core, including in complete knocked down (CKD) or semi-knocked-down (SKD) conditions, for use in used/on road vehicles and generator sets, from China. A notification NO.20/2017-CUSTOMS (ADD) to this effect was released by the DGAD on May 12, 2017. Citing material injury to the domestic industry as a result of the dumping of the goods below the normal value, the DGAD has imposed an anti-dumping duty of $22.89 on Aluminium Radiators, Aluminium Radiator Sub-Assemblies and Aluminium Radiator Core goods for a period of five years. The products specified in the description of the notification are generally used in ...
GST alone will add 2 percentage points to GDP growth
By Manishika Miglani It’s been three years since the Narendra Modi-led government came into power and announced a slew of measures to revive the investment climate of the country since then. In an interview with The Dollar Business, G.V.L. Narsimha Rao, Spokesperson, BJP, talks about the performance of the government, so far, and the party’s roadmap for further leveraging the business sentiment of the nation. TDB: The government has focussed on consolidating the investment scenario of the country? Has it been successful in achieving its targets? G. V. L. Narsimha Rao (GVL): At a time when global FDI inflows have turned negative, India has experienced the highest growth in the sector in the last three years. So, our government has been very successful ...
India levies ADD on Chinese aluminium radiators used in automobiles
The Dollar Business Bureau The Directorate General of Anti-Dumping and Allied Duties (DGAD) an arm of the Commerce Ministry has notified the final findings of the anti-dumping investigation on the dumping of aluminium radiators of various types. Aluminium radiator sub-assemblies, aluminium radiator core, including in CKD or SKD conditions are among the types of radiators used in automobiles, being investigated for dumping allegations from China. The notification was released on March 20, 2017. The DGCIS in its final report says that the imports from China are far above the de minimis level of dumping margin. With such high magnitude of dumping margin, the dumped imports are causing material injury to the domestic industry. Banco Products (India) Ltd supported by other domestic petitioners such as Tata ...
