In 2024, Tata's Punch SUV surpassed Maruti's Swift to become the best-selling car in India. Buyers are increasingly preferring SUVs over hatchbacks. Tata Motors achieved its highest sales volumes with SUV sales growing significantly. Maruti WagonR is the only hatchback in the top 5. Tata Motors' multi-powertrain strategy contributed to its strong SUV sales.from Business News: Business News, Business News Today, Latest Business News, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tMjxEVr
Two new members have joined the Governing Council of NIIF Trustee Ltd. SBI Chairman C S Setty replaces Dinesh Khara, and Uday Kotak takes over from T V Mohandas Pai. They join under the approval of Finance Minister Nirmala Sitharaman. Established in 2015, NIIF aims to boost infrastructure financing with a Rs 40,000-crore fund for various projects.
Indians are opting for smaller consumer goods packs as inflation in groceries and household supplies puts a strain on budgets. Categories like soaps, snacks, and tea are significantly affected. Companies respond with price hikes to address rising commodity costs, leading consumers to adjust their purchasing habits to smaller quantities.
The sensex fell 1.6% due to weak December quarter results, indicating an economic slowdown. Major sectors ended in the red, with banks and consumer sectors leading declines. Disappointing corporate earnings, global uncertainties, and a weak rupee contributed to investor concerns, while long-term growth optimism remains positive.
FMCG companies are set to experience a contraction in gross margins and modest-to-flat operating profits in the Dec quarter due to inflation, higher input costs, and pricing increases. Although there's a low single-digit revenue rise, rural markets are performing better amid urban consumption decline driven by high food inflation.
India will not immediately restrict laptop imports, expecting local production to grow through initiatives like the Rs 17,000 crore PLI scheme by companies such as HP and Dell. Additionally, the government is finalizing an enhanced financial incentive plan to attract new semiconductor investments.
The Commerce and Industry Minister, Piyush Goyal, emphasized the government's efforts to develop an export strategy to boost shipments of goods and services, aiming for USD 2 trillion by 2030. Strategies include addressing exporters' concerns, optimizing SEZs, and addressing trade issues, particularly concerning China's dumping practices.
