Exports of passenger vehicle drop 1.51%; two-wheelers up 20% in FY18
The Dollar Business Bureau With focus of the industry shifting towards domestic market and lasting impact of GST refunds on exporters, the passenger vehicle exports from India dropped by 1.51% in 2017-18, witnessing a dip for the first time in the past seven years. In 2017-18 fiscal, 7.47 lakh units of passenger vehicles were exported as against 7.58 lakh units in the previous fiscal, as per the Society of Indian Automobile Manufacturers (SIAM). “This is the first decline in exports of passenger vehicles since 2010-11 when it declined 0.41%,” said Sugato Sen, Deputy Director General, SIAM. Citing the the reasons behind the decline in passenger vehicles export, Sen said that some key exporters have shifted their focus on the domestic market. In addition, the exporters ...
General Motors, Walmart invest in the new American Dream
The Dollar Business Bureau Probably never in the political history of the United States has a President caused such ripples in the economic environment even before being sworn in. Walmart and General Motors, in tandem with the new stance adopted by US Presidency on aggressive job creation in the manufacturing sector, have both announced robust investments and job creation in the USA in 2017. GM proposed an additional $1 billion investment over and above the already announced figure of $2.6 billion in 2016. The dominant automobile player plans to create 7000 new jobs in the US over the next two to three years. This net number includes IT jobs it's going to bring back home from overseas, 450 jobs in the axle production and 1,500 jobs that ...
