India key to Skoda’s exports strategy, says country CEO
11 months ago

India key to Skoda’s exports strategy, says country CEO

Live Mint  

New Delhi: India will play an important role in Czech carmaker Skoda Auto’s ambition to expand into South-east Asian markets, as the European automotive group Skoda Auto Volkswagen India, which operates five major automobile brands in the country—Skoda, Volkswagen, Audi, Lamborghini, and Porsche—looks to tap into India as a major source of and enabler for exports into other South-east Asian economies, a top company official said. We are already at 30% plus, and we are not slowing down,” Arora said, adding that the legacy of parent Volkswagen’s Vento and Polo are helping the group push new cars such as the Virtus and Taigun into other markets, and the group now plans to leverage the Skoda brand to export Kushaq and Slavia to Southeast Asia. Volkswagen has been present in Southeast Asia for a while now.” Skoda Auto, which leads the SAVW group’s affairs and brands in India since it formulated the India 2.0 strategy in 2018, is looking to launch its Enyaq EV this year. On the group’s wider plans to switch to clean mobility technologies in India, Arora shared that the SAVW group will align with the Volkswagen Group’s global vision to be an all-electric brand.

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History of this topic

Ajit Ranade: India needs more sectors to be reliable dollar earners
2 weeks, 5 days ago

Ajit Ranade: India needs more sectors to be reliable dollar earners

Live Mint  

India presently has more than a quarter trillion dollars of essential imports. Domestic production capacity for all these is unlikely to become ‘ atma nirbhar ’ in the near future, even as demand will grow as India chugs at a 7% or 8% growth rate. In a report, Ajay Srivastava, founder of Global Trade Research Initiative, analysed the structural changes …

Indian manufacturing must adapt to constant flux in a dynamic world
3 weeks, 2 days ago

Indian manufacturing must adapt to constant flux in a dynamic world

Live Mint  

The global economic landscape is becoming increasingly interlinked and dynamic. Despite multiple shifts, 2023 saw global merchandise exports worth over $24 trillion, an increase of 6% over 2019, demonstrating resilience in the face of disruptions. Focused reforms since then, including the production-linked incentive schemes and ‘Make in India’ initiative, combined with infrastructure development programmes, trade agreements and stronger participation in …

India’s exports rise, boosting global presence
1 month, 1 week ago

India’s exports rise, boosting global presence

Deccan Chronicle  

New Delhi: India is eyeing to be a global economic powerhouse with its remarkable achievements in the export landscape. “India’s export performance in several key product categories has shown notable success, with the country maintaining or improving its rank among the top 10 global suppliers, all with export values exceeding $1 billion in 2023,” the ministry said. “The petroleum sector …

Volkswagen India unit faces USD 1.4 billion tax evasion notice
1 month, 1 week ago

Volkswagen India unit faces USD 1.4 billion tax evasion notice

India Today  

India has issued a notice to German automaker Volkswagen for allegedly evading USD 1.4 billion in taxes by "wilfully" paying lesser import tax on components for its Audi, VW and Skoda cars, a document shows, in what is one of the biggest such demands. A notice dated September 30 says Volkswagen used to import "almost the entire" car in unassembled …

Volkswagen India unit faces $1.4 billion tax evasion notice for Audi, VW and Skoda car parts: Report
1 month, 1 week ago

Volkswagen India unit faces $1.4 billion tax evasion notice for Audi, VW and Skoda car parts: Report

Live Mint  

India has issued a notice to German automaker Volkswagen for allegedly evading $1.4 billion in taxes by "wilfully" paying lesser import tax on components for its Audi, VW and Skoda cars, a document shows, in what is one of the biggest such demands. A notice dated Sept. 30 says Volkswagen used to import "almost the entire" car in unassembled condition—which …

‘Marathon not a sprint’: Audi India head on EV adoption
1 month, 3 weeks ago

‘Marathon not a sprint’: Audi India head on EV adoption

Live Mint  

The slowdown in electric vehicle sales is temporary and the industry will grow over time, Audi India head Balbir Singh Dhillon said, pointing to the need for extensive charging networks and supportive government policies. In countries with high EV penetration like Norway and Iceland, strong charging networks and consistent government policies have helped, Dhillon said. Sparse charging network A sparse …

iPhone production likely to double in India due to Donald Trump, adding 200,000 new jobs & $30bn revenue
1 month, 4 weeks ago

iPhone production likely to double in India due to Donald Trump, adding 200,000 new jobs & $30bn revenue

Firstpost  

Apple’s production increase hinges on the policies of US President Donald Trump, who has repeatedly expressed his intent to impose steep tariffs, between 60-100 per cent, on goods imported from China If Apple implements these plans, India’s share of global iPhone production could rise to over 26 per cent, a substantial jump from the current 12-14 per cent. The Economic …

Skoda's new proposition to crack the Indian mass market: value-for-money cars
2 months ago

Skoda's new proposition to crack the Indian mass market: value-for-money cars

Live Mint  

‘Paisa Vasool’ isn't a phrase that rolls off the tongues of senior leaders of Czech premium carmaker Skoda Auto often. But at the launch of its first, made-for-India compact sports utility vehicle Kylaq, value for money and ‘paisa vasool’ were key phrases to emphasize how serious the brand was to crack the Indian mass market and shed the perception its …

India very important market, Kylaq to help achieve 1 lakh annual sales: Skoda Auto CEO
2 months ago

India very important market, Kylaq to help achieve 1 lakh annual sales: Skoda Auto CEO

New Indian Express  

Czech automaker Skoda said on Wednesday that India remains a very important market for them and the launch of a new model – Kylaq – in the high volume sub-4 metre segment will help them achieve 1 lakh annual sales by 2026. And India clearly is the second pillar that we want to build outside Europe," said Skoda Auto CEO …

India's Mobile Manufacturing Boom: A Global Powerhouse Emerging
Trending News
2 months, 2 weeks ago

India's Mobile Manufacturing Boom: A Global Powerhouse Emerging

Firstpost  

India's mobile manufacturing industry is gaining global attention, thanks to the Make in India initiative. Big companies like Samsung and Apple are setting up large factories in the country, making India the world's second-largest exporter of mobile phones. With Samsung's mega factory in Noida and Apple moving some iPhone production to Tamil Nadu, India is becoming a key player in …

India will soon be in a position to export Lithium-ion batteries: Nitin Gadkari
4 months ago

India will soon be in a position to export Lithium-ion batteries: Nitin Gadkari

Hindustan Times  

Union Minister of Road Transport Highways, Nitin Gadkari on Tuesday said that India will soon be in a position to export lithium-ion batteries. Speaking at the Society of Indian Automobile Manufacturers 64th convention in New Delhi, the Union Minister said," I'm confident that we'll be in a position to export lithium-ion batteries to the different parts of the world. "Regarding …

Economic Survey 2023-24: 14% of global iPhones made in India in FY24, country's electronics export rank up
5 months, 2 weeks ago

Economic Survey 2023-24: 14% of global iPhones made in India in FY24, country's electronics export rank up

The Hindu  

US smartphone major Apple assembled 14% of global iPhones in India in FY24 and the country's ranking in global electronics export improved by four positions, Economic Survey 2023-24 said on July 22. "Apple assembled $14 billion worth of iPhones in India during FY'24, constituting 14% of its global iPhone production," the Economic Survey said citing third-party data. The survey recorded …

Niti Aayog: India’s Electronics Output Can Reach $500 Billion by FY30
5 months, 3 weeks ago

Niti Aayog: India’s Electronics Output Can Reach $500 Billion by FY30

Deccan Chronicle  

Chennai: India can increase its electronics production five-fold to touch $500 billion by FY30, with $200 -$225 billion worth exports of both finished goods and components by becoming an integral part of the global value chain through focused policy interventions, finds Niti Aayog. However, the electronics sector has a very high participation in the global value chain with 75 per …

India's Exports to 115 Countries Surge Despite Global Uncertainties
8 months ago

India's Exports to 115 Countries Surge Despite Global Uncertainties

Deccan Chronicle  

New Delhi: The commerce ministry on Thursday said that India's exports have surged to as many as 115 countries out of the total 238 destinations during 2023-24, despite the global economic uncertainties. “These 115 export destinations, which account for 46.5 per cent of India's export basket, include the US, UAE, Netherland, China, UK, Saudi Arabia, Singapore, Bangladesh, Germany and Italy,” …

Goldman Sachs predicts this ‘favourable scenario’ for Indian economy by 2030
8 months, 1 week ago

Goldman Sachs predicts this ‘favourable scenario’ for Indian economy by 2030

Hindustan Times  

India's services exports are likely climb to $900 billion- about 12.4 percent of its GDP, by 2030- Goldman Sachs said in what it called a "favourable scenario" of the economy. "India has been gaining share in professional consulting globally, which is relatively less concentrated than other sectors, and India has scope of gaining further share with the rise of GCCs," …

Don’t take India’s strong services exports story for granted: Goldman Sachs
8 months, 1 week ago

Don’t take India’s strong services exports story for granted: Goldman Sachs

The Hindu  

April 29, 2024 09:57 pm | Updated 10:08 pm IST - NEW DELHI While India’s services exports had grown sixfold between 2005 and 2023 to about $340 billion and were potentially poised to hit the $800-billion mark in 2030, Goldman Sachs cautioned against complacency citing challenges such as the lack of skilled talent and resource stress in key hubs like …

Tata shifts gears: Considers importing Jaguar Land Rover EVs after government cuts import duty from 100% to 15%
8 months, 3 weeks ago

Tata shifts gears: Considers importing Jaguar Land Rover EVs after government cuts import duty from 100% to 15%

Live Mint  

India's Tata Motors is planning to import its Jaguar Land Rover luxury electric cars under a new government policy that lowers import taxes for companies agreeing to set up local manufacturing, according to a Reuters report. Import duties on some EV models have been slashed from as high as 100 percent to just 15 percent, provided the carmaker invests at …

Tesla scouts for its first India showroom locations
8 months, 3 weeks ago

Tesla scouts for its first India showroom locations

The Hindu  

U.S. electric carmaker Tesla is looking at potential showroom locations in New Delhi and Mumbai ahead of plans to begin sales in India later this year, two people familiar with the discussions said. India last month cut electric vehicle import taxes to 15% from as much as 100% for automakers that invest at least $500 million and set up a …

Apple shows the way for electronics exports
8 months, 3 weeks ago

Apple shows the way for electronics exports

Hindustan Times  

At $10 billion in FY24, exports of India-assembled iPhones have doubled from the previous fiscal. While the iPhone instance is evidence of policies such as the PLI for smartphones working, India must do more to convince the world that it has the makings of a preferred China+1 destination for electronics exports. At present, the world may seem more inclined towards …

India's exports register healthy growth to European, Latin American nations in 2023
9 months ago

India's exports register healthy growth to European, Latin American nations in 2023

The Hindu  

Indian exporters made further inroads in European and Latin American nations in 2023, registering healthy growth in countries such as Romania, Montenegro, Austria, and Guatemala, an official said on Friday. India's merchandise export rose 2.1% to the European Union in 2023 despite headwinds being faced by large developed markets like the EU and the U.K. due to high cost of …

Tesla begins hunt for sites to build car factory in India: Report
9 months, 1 week ago

Tesla begins hunt for sites to build car factory in India: Report

India Today  

Tesla is looking to set up a big factory in India and is sending over a team to scout for possible locations, reported The Financial Times. Last month, India decided to lower the taxes on some electric cars made by companies that agree to invest at least Rs 3,700 crore and start making cars in India within three years. But …

India's defence exports at all-time high: Which are the countries buying from New Delhi?
9 months, 1 week ago

India's defence exports at all-time high: Which are the countries buying from New Delhi?

Firstpost  

Defence Minister Rajnath Singh announced that India’s arms exports have crossed the Rs 21,000-crore mark for the first time. According to the defence minister, the arms exports touched Rs 21,083 crore in the financial year 2023-24, a “spectacular growth” of 32.5 per cent over the previous fiscal. India’s growing defence exports India supplies arms to over 85 countries, including Italy, …

India's EV import tax reduction policy signals victory for Tesla and global automakers
9 months, 3 weeks ago

India's EV import tax reduction policy signals victory for Tesla and global automakers

India TV News  

India announced plans to reduce import taxes on specific electric vehicles, contingent on companies investing a minimum of $500 million and establishing a manufacturing plant within three years, signalling a significant policy pivot. Beyond Tesla While Tesla stood to benefit significantly from the policy, it also paved the way for other global automakers to tap into India's automotive market, the …

In A World Starved Of Growth, India Is An Outlier, Will Become Third-Largest Economy In 5 Years: Amitabh Kant
10 months, 1 week ago

In A World Starved Of Growth, India Is An Outlier, Will Become Third-Largest Economy In 5 Years: Amitabh Kant

ABP News  

India is set to become the third-largest economy and stock market in the world in the next five years, G20 Sherpa and former NITI Aayog chairman Amitabh Kant said at the India Dialog conference, organised by the Stanford University US-Asia Technology Management Center, in partnership with the Institute for Competitiveness. Sharing his inputs on the country’s growth, Kant stated: “In …

Skoda bets on affordable compact SUVs to double India sales by 2026
10 months, 2 weeks ago

Skoda bets on affordable compact SUVs to double India sales by 2026

Live Mint  

Skoda Auto is looking to double its sales in India by 2026 with the launch of its affordably priced compact SUV next year. Despite the challenges, India is among Skoda Auto's top five global markets and the third-largest passenger vehicle market in the world, making it a key contributor to the carmaker's global growth, according to CEO Kalus Zellmer. Under …

What can India learn from countries like Vietnam to become an export giant?
10 months, 2 weeks ago

What can India learn from countries like Vietnam to become an export giant?

The Hindu  

Like with the last episode of Business Matters, this one too was triggered by a headline I saw in an article: “India fears losing out to China in smartphone exports race”. This Reuters piece cited IT Minister of State Rajeev Chandrasekhar’s letter dated January 3 to Finance Minister Nirmala Sitharaman expressing fears that India’s high tariffs could be a deterrent …

Elon Musk's Tesla to enter India soon? Centre's new policy may benefit EV maker
10 months, 3 weeks ago

Elon Musk's Tesla to enter India soon? Centre's new policy may benefit EV maker

Hindustan Times  

Months after expressing interest in entering the Indian market, billionaire Elon Musk-led Tesla may be making its way to the country as the central government is in the process to finalise its policy to extend concessional import duty, reported The Economic Times. Tesla founder Elon Musk with Prime Minister Narendra Modi Tesla is now on the verge of entering the …

India’s rival is Vietnam in the game of attracting global manufacturers
10 months, 4 weeks ago

India’s rival is Vietnam in the game of attracting global manufacturers

Live Mint  

If India wants to build a robust computer and electronics manufacturing industry, it needs to shift focus, fast. The latest reminder of this urgency came last week with a US appeal for New Delhi to make the business environment easier and more transparent to navigate, or keep losing out on foreign direct investment. Though India is getting a lot of …

India will become auto technology provider to the developing world: Bhargava
11 months, 1 week ago

India will become auto technology provider to the developing world: Bhargava

Live Mint  

New Delhi: India’s car industry will drive its manufacturing growth and play a big role in attracting investments and prosperity, Maruti Suzuki chairman R.C. These are themes he addresses in his latest book, Impossible to Possible, in which he describes what made Maruti Suzuki, the first and only instance of the government-run public sector undertaking forming a joint venture with …

Tesla inches closer to pact with India for EV imports, local factory: Report
1 year, 1 month ago

Tesla inches closer to pact with India for EV imports, local factory: Report

India Today  

The government is close to finalising an agreement with Tesla that would allow the US automaker to import its electric vehicles to the country from next year, while also paving the way for a local factory in the next two years, reported Bloomberg News. Currently operating factories in the US, China, and Germany, Tesla's potential venture in India follows the …

Electric Vehicles: Tesla’s India Plans Should Not Push Local Manufacturers into Sulk
1 year, 1 month ago

Electric Vehicles: Tesla’s India Plans Should Not Push Local Manufacturers into Sulk

News 18  

The demand for battery-powered electric vehicles is slowing down in many large-scale markets globally, as consumers weigh whether to switch from petrol/diesel vehicles due to the significant premium EVs command. The condition, though, is that Tesla would eventually begin manufacturing EVs in India, thereby boosting local sourcing of parts and enabling development of a comprehensive supply chain for EVs. Besides, …

How Indian startups are contributing to India’s $5 trillion economy goal?
1 year, 3 months ago

How Indian startups are contributing to India’s $5 trillion economy goal?

Live Mint  

Indian startups have witnessed remarkable growth in recent years, with the country emerging as the third-largest ecosystem for ventures globally. In 2022, Indian startups attracted a whopping $42 billion in funding, a substantial leap from the previous year's $16 billion which underscores their pivotal role in India's aspiration to achieve a $5 trillion economy goal. India will soon become a …

India’s global exports in labour-intensive sectors declined in last 5 years: FIE
1 year, 3 months ago

India’s global exports in labour-intensive sectors declined in last 5 years: FIE

Live Mint  

With India experiencing a decline in global market share across segments during the last five years, the labour-intensive export sectors such as apparels, marine products, plastics, and gems and jewellery are showing a "troubling pattern", news agency PTI quoted FIEO report as saying. "An analysis of sector-wise export performance for the last five years reveal the troubling pattern that India …

Indian Defence exports breach Rs 16000 crore mark to reach an all time high
1 year, 4 months ago

Indian Defence exports breach Rs 16000 crore mark to reach an all time high

Op India  

Looking to expand the Make in India in defence sector, India’s defence exports have skyrocketed to an all-time high, touching nearly the Rs 16,000 cr mark in FY 2022-23, Defence Ministry said on Friday. “With a 23-fold increase in exports, Indian design and development capabilities are reaching over 85 countries,” the Defence Ministry announced. The Indian indigenous defence industry has …

Tesla asked to copy Apple's strategy to make in India: Report
1 year, 5 months ago

Tesla asked to copy Apple's strategy to make in India: Report

India Today  

As Tesla explores the possibility of establishing a manufacturing plant in India for cheaper electric vehicles, officials have raised concerns about the company's reliance on Chinese suppliers. Tesla's reliance on Chinese suppliers To keep costs low for manufacturing a cost-effective EV in India, Chinese suppliers could play a crucial role. Three government sources with direct knowledge of the matter told …

Tesla explores investment in India for massive electric vehicle factory and export hub
1 year, 5 months ago

Tesla explores investment in India for massive electric vehicle factory and export hub

Live Mint  

Tesla is currently in discussions with the Indian government regarding an investment proposal to establish a factory capable of producing approximately 500,000 electric vehicles on an annual basis, as reported by the Times of India, citing government sources. Led by billionaire Elon Musk, Tesla is also exploring the possibility of utilizing India as a manufacturing hub to export cars to …

Tesla proposes new EV plant in India for domestic sales, exports: Report
1 year, 7 months ago

Tesla proposes new EV plant in India for domestic sales, exports: Report

India Today  

Electric carmaker Tesla has proposed setting up a factory in India to build its electric vehicles for domestic sale and export, reported news agency Reuters. Quoting a source with direct knowledge, the news agency said the carmaker has expressed interest to build a factory in India and build electric vehicles locally. If Tesla successfully sets up a factory in India …

India to become export hub for Skoda Auto from next year: Top official
1 year, 8 months ago

India to become export hub for Skoda Auto from next year: Top official

Hindustan Times  

Czech car maker Skoda Auto has said India will become an export hub for the company as it is set to commence exports of vehicle kits for assembly in Vietnam from next year. The Group is present through Skoda Auto, Volkswagen, Audi, Porsche and Lamborghini brands under Skoda Auto Volkswagen India Pvt Ltd. "India is an absolutely important market as …

Apple continuously expanding business operations in India, says Piyush Goyal
1 year, 8 months ago

Apple continuously expanding business operations in India, says Piyush Goyal

The Hindu  

U.S.-based iPhone maker Apple is continuously expanding its operations in India and the government is in regular touch with the company to support its business, Minister of Commerce and Industry Piyush Goyal has said. ‘Will protest interests of farmers, dairy sector in free trade agreement with EU’ India will completely protect the interests of farmers and dairy sector in the …

Goods exports grew 6% , imports 16.5% this fiscal
1 year, 8 months ago

Goods exports grew 6% , imports 16.5% this fiscal

The Hindu  

India’s goods exports declined for the second successive month in March, falling a sharp 13.9% to $38.38 billion while imports dipped 7.9% to $58.11 billion. “Despite the global headwinds, we have surpassed our 2022-23 target of $750 billion dollars to hit $770.18 billion, which is $94 billion higher than last year’s record exports,” Commerce Secretary Sunil Barthwal said, using services …

Government vows swifter nod for exporters
1 year, 9 months ago

Government vows swifter nod for exporters

The Hindu  

Union Commerce, Industry and Textiles Minister Piyush Goyal on Friday unveiled a new Foreign Trade Policy that moves away from providing incentives to exporters, but lowers a few costs for smaller firms and promises swifter clearances, along with a one-time amnesty scheme for export obligation defaults. There are no major new schemes, barring a one-time amnesty under the existing Advance …

Apple reshuffling management to give more focus on India
1 year, 10 months ago

Apple reshuffling management to give more focus on India

Live Mint  

Apple is reorganising the management of its international businesses to give more focus on India, which has become an important market for the company. In his place, Apple is promoting Ashish Chowdhary, the head of India, who will report directly to Michael Fenger, the company’s head of product sales. Key suppliers are relocating to the region, and Apple is working …

India's services exports to cross $300bn target for this fiscal: Piyush Goyal
1 year, 11 months ago

India's services exports to cross $300bn target for this fiscal: Piyush Goyal

The Hindu  

The country's services exports are doing “extremely well” and going by the current trend these outbound shipments would register about 20% growth in this fiscal and cross the $300 billion target despite global economic uncertainties, Commerce and Industry Minister Piyush Goyal has said. With all these stress, where every global leader is talking of “very” tough times, India's exports rose …

India is 3rd biggest auto market now. What do the numbers reveal?
1 year, 11 months ago

India is 3rd biggest auto market now. What do the numbers reveal?

Live Mint  

The automobile sector, which was bogged down for months by the semiconductor shortage last year, is slowly coming out of the woods with easing supply-chain constraints. With vehicle sales topping 4.5 million in 2022, India became the world’s third-largest automotive market, beating Japan, Nikkei Asia reported earlier this month. Budget may put India's missing middle in Ayushman Bharat UPI for …

Data | India’s toy exports surge but still 200 times smaller than China’s
2 years ago

Data | India’s toy exports surge but still 200 times smaller than China’s

The Hindu  

Amid the COVID-19 pandemic in August 2020, Prime Minister Narendra Modi exhorted that India can become a global toy hub. In July 2022, he announced that India’s exports of toys surged from ₹300-400 crore to ₹2,600 crore, a boost that “no one could have imagined.” Beyond an increase in exports, Mr. Modi also said that imports of toys, which used …

Turning tide: On India’s goods exports
2 years ago

Turning tide: On India’s goods exports

The Hindu  

India’s goods exports rebounded from a nearly 17% dip in October to a mild 0.6% uptick in November. Their share in exports growth has been shrinking since June, with the contraction accelerating for many sectors from September to November — engineering goods that drove much of India’s record $422 billion goods exports in 2021-22, contracted 11.3% while textiles fell a …

Explained | Why are India’s slowing exports a cause for concern?
2 years ago

Explained | Why are India’s slowing exports a cause for concern?

The Hindu  

The story so far:India’s exports declined about 16.7% in October compared with the year-earlier period. The Commerce Ministry pointed out that for October, a decline of $2 billion worth of exports was seen in steel and allied products, highlighting the fact that the government had levied an export duty on these products to help increase local availability and hence temper …

Apple plans to push India up in its value chain
2 years ago

Apple plans to push India up in its value chain

Live Mint  

NEW DELHI : Apple Inc. is likely to triple its production of iPhones assembled in India over the next two years, three people aware of the development said, representing a significant expansion of its local manufacturing capabilities. Analysts tracking the mobile handset industry and local manufacturing said the expansion could result in the local production of iPhones rising to a …

India has potential to become global leader in EV production: Research
2 years, 1 month ago

India has potential to become global leader in EV production: Research

Hindustan Times  

India has the potential to become a global leader in the production of electric vehicles, a recent research stated. Recent research has said that India has the potential to become a global leader in the production of electric vehicles. The research titled "Freight Trucks in India are Primed for Electrification" carried out by the Berkeley National Laboratory and UCLA last …

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