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Thursday, 21-Mar-2024
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RBI may up FY25 GDP growth projection, lower inflation pegThe Hindu Business Line
21-Mar-2024
The Reserve Bank of India (RBI) may bump up the FY25 real GDP projection by 40 basis points and lower retail inflation projection by a shade in its first bi-monthly monetary policy review of the new financial year, going by the central bank's in house model. |
India pushing its proposal made at WTO Abu Dhabi for lowering cost of cross- border remittancesThe Hindu Business Line
21-Mar-2024
India is strongly pursuing its proposal for lowering cost of cross-border remittances, which it made last month at the largely inconclusive WTO’s 13th Ministerial Conference in Abu Dhabi, and has now asked the multilateral body’s general council (GC) to initiate a work programme to make recommendations for the same, sources have said. |
MG Motor pulls the plug on CometThe Hindu Business Line
21-Mar-2024
The production of the smallest car of India, MG Motor’s electric car ‘Comet’, has been stopped. Data from Society of Indian Automobile Manufacturers (SIAM) for the period between April 2023 and February this year show that only 3,052 units of MG Comet have been manufactured, while only 1,914 units have been sold in that period. However, there is another important detail in the SIAM data – the company has discontinued production of the vehicle since June 2023. MG Motor India had launched the Comet EV in April last year with an introductory starting price of ₹7.98 lakh and going up to ₹10 lakh for the topend (exshowroom). |
JSW MG Motor eyes ‘Maruti moment’ in EVs; targets 33% market share by 2030The Hindu Business Line
21-Mar-2024
Sajjan Jindal-led JSW Group outlined its strategy for the new auto venture with MG Motor setting a target of capturing 33 per cent of the new energy vehicle segment by 2030 by rolling out one model every 36 months. The JSW Group will hold 35 per cent in the newlyformed JSW MG Motor India with Indian financial institutions and domestic MG Motor dealers holding 8 per cent and 3 per cent, respectively, besides employees owning 5 per cent. The fresh stake holding will result in a capital infusion of ₹5,000 crore. |
Nickel crashes on 2.5x rise in Indonesian outputThe Hindu Business Line
21-Mar-2024
Four years ago, Indonesia decided to permanently ban exports of nickel ore to attract foreign investments so that domestic processing can be encouraged and the raw materials can be used for further downstream industries. The ban enticed foreign investors, mainly from China, to construct smelters and increase exports so much so that Indonesia’s nickel production has increased 250 per cent since 2021. As a result, nickel prices are currently ruling near threeyear lows. |
Exporters Seek Exemption from 45-day Payment to MSMEs RuleThe Economic Times
21-Mar-2024
Exporters across sectors have sought exemption from a new rule that requires them to pay any pending bills to micro and small units within 45 days. Around 150,000 exporters, represented by as many as 15 export promotion councils, including the Federation of Indian Export Organisations, have raised concerns over the provision, saying it will impact their liquidity as payments for exports are received with an average time lag of 120 days, although the Reserve Bank of India allows a nine- |
Start-ups will play key role in achieving Viksit Bharat goal by 2047: PM ModiThe Hindu Business Line
21-Mar-2024
Prime Minister Narendra Modi on Wednesday said that India has democratised technology and the “haves and have nots” theory cannot work in this country. He said this was exemplified by the financial inclusion achieved through UPI, which is used for financial transactions even in villages. |
JSW MG Motor eyes a‘ Maruti moment’Business Standard
21-Mar-2024
To invest ₹ 5,000 crore ,focus on new energy vehicles |
‘Homegrown chip design startups can cater to E2Ws worldwide’- Cadence Design SystemsBusiness Standard
21-Mar-2024
,sees a huge opportunity for homegrown chip |
UAE, CHINA LED IMPORT GROWTH IN FEBRUARYBusiness Standard
21-Mar-2024
propelling them to a 17month high |
Rupee slips to 2-mth low against dollarBusiness Standard
21-Mar-2024
The rupee slumped against the US dollar for the second straight session |
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