Leading automobiles of the Country like Maruti Suzuki, Hyundai, Toyota, Tata Motors Mercedez Benz, etc. come up with the latest techniques to digitize their business amid the pandemic as customers are not willing to visit their showrooms for purchasing physically. According to Srivastava” We are utilizing the social media for targeted marketing to customers and also using AR/VR experiences. He also said that Digitization is the way forward in unprecedented times.
The central government has modified the rules of ECLGS (Employee Credit Line Guarantee Scheme) and now the Civil Aviation sector also comes in its dimension. It will support the growth of smaller businesses.
According to Officials” DOT is going to ask the telecom operators to start the process of testing for 5G technology in rural areas along with the urban” A trial validity of 6 months has been given to Bharti Airtel, Reliance Jio, and Vodafone. MTNL will also be given the license for conducting the trials shortly after the payment of 5000 as permission feels. One thing is important to note that DOT has not partnered the trial process with any Chinese vendor.
According to data released on Monday” Output of eight core sectors has increased by 56.1% in April owning to low base effect and simultaneous increase in production of Natural Gas, Refinery Products, Cement & Electricity, Steel, etc. Due to restrictions imposed in COVID second wave eight infrastructure sectors of Coal, Crude oil<natural Gas, Steel, Cement & Industry contracted by 37.9% in April 2020. But in this year these sectors witnessed record growth.
As we know that Travel industry is the worst-hit-affected industry amid the COVID pandemic and the sector is disappointed due to the Government's failure to provide the fiscal; stimulus. IATO, the Apex body of the tour operators has shown Disappointment due to the lack of government attention on this issue as it is not being discussed in the GST council. The tourism industry is hoping that the government will decrease the GST stuff imposed on the industry.
On Monday ISSDA (Indian Stainless Steel Development Association)said that in 2021 India can lose the tag of the World’s second-largest stainless steel producer to Indonesia. Surplus production in Indonesia is the main reason. Currently, Indonesia is at 4th position in the production of Stainless steel and can overtake Japan & India with a production of 4.2 million tonnes of stainless steel.
Nifty Futures were trading red in the market on Singaporean Exchange at 15,617. Technical analysts believe that the Nifty pattern will be shown an upside movement shortly. The index is currently trading above average daily.
There are differences in the prices of Fuel from state to state due to the existence of local taxes as Value Added Tax (VAT) & Freight Charges. On Friday it witnessed another increase in which petrol by 27 paise and diesel by 28 paise across Metropolitans. In Delhi, Petrol & diesel was selling at Rs94.76 per liter & Rs85.66 per liter.
India is the third-largest oil –importer and relies on international suppliers for its 85% requirements. The move will decrease the country’s independence from oil importers.
With the decreasing number of COVID cases, FICCI suggests starting the unlocking process in a graded manner. All factory units should be operated with taking of all precautions.
The increase in international crude oil prices has a mixed effect on the Country's oil sector. It will improve refining margins but marketing margins got adversely affected. IT will also lead to fluctuation in the country’s oil prices.
A brand in smartphone Realme said that it will come with 5G technology phones for its 100M consumers within 3 years. These phones are cheaper and at a price scale of $100. At an inauguration ceremony of 5G Realme said that its new models in the GT series, Realme5G performance & Camera will be introduced in June & July.
ON Saturday US, Britain & other big nations finalized a landmark agreement to take more money from Multinational Companies like Amazon & Google.G7 Countries decided to came with a minimum international tax rate of 15%. The historical decision is taken at the meeting of the Finance Ministers of G7 countries in London.IT will help the countries to come in a recovery process after the COVID pandemic. Rishi Sunak posted a Tweet describing the decision.
The attack of COVID 19 has severely affected the occupancy rate of India’s Hotel Industry for the next two-three months. The second wave of the COVID 19 has dropped the occupancy rates at the ground. It has dropped 45%.In the first few months of FY21 Demand was limited to Vande Mataram repatriation travelers, medical & Frontline workers, Stranded travelers & work-from hotel guests. RBI has decided to put the fiscal stimulus in COVID 19 affected sectors and it will be great for the Hotel industry
India, World’s third-largest Oil Importer looks to cut the dependency on the international market for oil demand and also putting the path to reduce Carbon Emissions. The country has advanced the goal of achieving 20% ethanol blending in petrol by 2025. As we know that Ethanol is extracted from sugarcane & Damaged food grains. On the occasion of World Environment Day Honourable PM Narendra Modi speaking at “Ethanol Blending Road Map 2020-25.”PM said that the target will be achieved shortly.
There is a major increase in Chinese imports & exports of 28% & 51% respectively. The reason behind this upsurge is the rebounding of Demand in the USA, Chinese economy is in the process of recovery after a major fallout of last year. China is fighting back against the global pandemic and the economy is coming on track but the major parts of the world are still struggling due to the lack of Vaccination programs.
After starting of Lockdown ease in many states the risk settlement sentiment of the investors is in the process of recovery, and Equity Benchmarks witnessed a major surge. Improvement in the value of the Rupee against the US dollar also gives momentum to the rise. Reliance industries contributed half of almost all benchmarks gain. According to experts” Domestic equities are going high because of prioritization in vaccination process and low number of cases which are coming.
According to a Report, Indian can save its logistics worth Rs311 lakh crore by 2020 to 2050 utilizing the clean & cost-effective mode of transportation and it can save 10 gigatonnes of cumulative carbon dioxide emission in three decades. The report is named “Fast Tracking Freight in India: A Roadmap for clean & Cost effective.” As the demand for Goods & services are increasing and it leads to increase the demand of fright services.
This service is made for WhatsApp and it has other features like recharging, making payments, getting the answers, etc. Giving brief details about the service Reliance Jio said that its users can know the availability of vaccines by messaging” Hi” to 7000770007. It is not like another online portal on this platform users can check the availability of vaccines by searching the vaccine centers. Till now India has administered 240 million vaccine doses to all its eligible beneficiaries.
As the unlocking process of the Central Government has started and Automakers started to make their targets high as Maruti Suzuki, India’s top carmaker is likely to produce 1,65000 -169000 cars in June and increased its capacity to 1,74,000 vehicles in July. The top car maker company is hoping that sales will likely boost in the upcoming months as various State Governments started graded unlocking. The company will expand its manufacturing capacity in the upcoming time.
The new policies of the Central Government in the e-commerce domain have increased the growth rate of India by 51% as the Fashion Industry has full potential to push the economic growth of the country. Brands have witnessed an increase in orders after the unlocking process of the Central government. Kidswear witnessed a growth of 200% growth rate in online growth. These numbers are released by “Fashion e-commerce Report” which is published by Unicommece .e-commerce focused supply chain.
NASSCOM Indian IT Industry is booming and going to hire more & more staff due to its dominance in all over the world. According to a report, top Indian IT companies are going to hire 96,000 employees in 2021-22. The latest move of IT industry came after the report released by Bank of America that the IT sector is firing its employees. It is a great opportunity for qualified IT specialists to get a well-paid job.
The country's biggest carmaker Maruti Suzuki Monday said it will increase prices across its scope of vehicles in the forthcoming quarter to balance any rise in input costs. The Company said in a statement that over the past year the cost of the company’s vehicles continued to be adversely impacted due to an increase in various input costs. “Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise.
Finance Minister Nirmala Sitharaman said on Monday that the government will provide free visas to 500,000 tourists visiting India. In announcing measures to revive the tourism industry hit hard by Covid-19, Sitharaman stated that it will provide financial support to more than 11,000 registered tour guides, travel, and tourism stakeholders.
Union Minister Prakash Javadekar said on Tuesday that the Ministry of Heavy Industry and Public Enterprise will soon hold a stakeholder meeting to discuss the rapid growth of the automotive industry, including electric vehicles. He also said that with the development of NATRAX (National Automotive Test Tracks) Indore facilities, domestic vehicles will no longer need to be sent abroad for testing.
International flights will be suspended until July 31. The Directorate General of Civil Aviation (DGCA) on Wednesday extended the ban on scheduled international flights to and from the country until July 31. This restriction does not apply to international all-cargo flights and scheduled flights according to travel arrangements. The ban on scheduled international flights has been implemented since March last year.
A report on Tuesday said that due to the decline in the number of Covid-19 cases in the country, domestic air passenger traffic resumed a growth trajectory in June. There were about 3 million passengers on local routes last month, compared with about 2 million in May. Credit The rating agency ICRA stated in its report that despite some recovery in June, demand pressures continue, mainly caused by the second wave of pandemics, and travel is limited to necessary travel.