Auto Components News
The PLI scheme will bring fresh investments of over Rs 42,500 crore in five years and incremental production of over Rs 2.3 lakh crore, said Union Minister Anurag Thakur
TVS Motor Company has decided to reduce salaries at executive level, barring entry-level workmen, from May till October this year.
Bosch Q4 net profit down 80% at Rs 81 cr; says results in line with downward trend in automotive industry
During the quarter, Bosch made an incremental provision of Rs 297 crore as part of an overall provision of Rs 717 crore towards various restructuring, reskilling and redeployment initiatives for 2019-20.
Coronavirus Lockdown: Auto component industry likely to witness double-digit degrowth in FY21, says India Ratings
The Auto component industry is likely to witness a second consecutive year of double-digit degrowth this fiscal mainly on account of disruption in operations due to coronavirus pandemic and the subsequent lockdown, according to a report
Auto crisis: India's vehicle production likely to shrink by 8.3% in 2020; coronavirus spread may hit supply chain, says Fitch
The agency said that it believes that the weak domestic demand for new vehicles will see India's vehicle production continue to contract in 2020.
Budget 2020: Auto component industry body seeks uniform 18% GST; demands fund to support R&D, indigenous technology development
The industry body also sought import duty exemption on auto component prototypes to encourage domestic R&D and testing.
Govt makes localisation of auto components in e-vehicles mandatory for subsidy benefits, issues draft norms
In January this year, state-owned BHEL had announced that the firm would set up a network of solar-based e-vehicle chargers (SEVC) on the Delhi-Chandigarh highway.
US intents to terminate trade benefits for India under GSP: All you need to know about preferential trade agreement
United States President Donald Trump has notified Congress in a letter of his "intent to terminate" trade benefits for India and Turkey under the Generalised System of Preferences (GSP) eligibility criteria.
Auto components maker Minda Corp's board approves scheme to amalgamate five wholly-owned subsidiaries into parent company
The revenue of the merged entity will increase to around Rs 1,972 crore compared to standalone revenue of Rs 9,70.2 crore, based on FY18 results.
In order to bridge this, the commerce ministry is formulating the strategy under which it has identified specific products including textiles, auto components, pharmaceuticals, buffalo meat, marine products, rice and other agri produces.
ACMA and Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) have signed an MoU.