Other Briefings
Tax on Sedans, SUVs May Be Removed
May 6 – India’s Ministry of Heavy Industries is recommending that additional excise taxes on Sedans and SUVs like Ford Fiesta, Maruti SX4, Hyundai Verna, Honda Accord, Scorpio and Innova may be cut to boost demand in the auto industry. Last year, the government meted the additional excise duty of Rs 15,000 for vehicles above […]
Tata Motors Receives 203,000 Orders for Nano Car
May 5 – Indian truckmaker, Tata Motors, has received 203,000 orders for the world’s cheapest car, the Nano, worth close to 25 billion rupees or US$501 million. The number is overwhelming and more than double of what the Mumbai-based company projected. According to Tata Motors, the deliveries will begin in July until completion during the […]
India May Implement Anti-Dumping Duty for Auto Parts
May 4 – India may implement a provisional anti-dumping duty for imports of front axle beam and steering knuckles used to manufacture commercial vehicles as a precaution for the local industry against cheaper Chinese shipments entering the country. The duty would cost from US$0.50 per kg. to US$0.69 per kg. The Directorate General of Anti-dumping […]
India Approves 22 FDI Proposals
Apr. 28 – The Indian government has cleared 22 foreign direct investment proposals, including those of Yamaha and Nokia, worth Rs 541.25 crore. The proposals were approved by the Foreign Investment Promotion Board (FIPB) and include Nokia’s plan for a joint venture with HCL Infosystems for a single-brand retail to sell handsets and accessories worth […]
Coca-Cola Planning to Increase Investment in India
Apr. 27 – Coca-Cola plans to invest more than US$250 million in India in the next three years because it has shown the highest volume growth in its international markets. Sales during the first three months of the year grew by 31 percent despite the global slowdown. The funding will increase Coca-Cola investment in the […]
Test Drive a Tata Nano Free Online
Apr. 20 – Tata Motors, the manufacturers of the worlds cheapest car the Nano, has teamed up with the Indian online gaming portal Zapak to provide a free online game in which a user can customize their virtual Nano, then drive it around Bombay amidst the city’s hustle and bustle. The tiny vehicle, which costs […]
Farewell To Mumbai’s Premier Padmini
MUMBAI, Apr. 20 – The ubiquitous Premier Padmini, the tiny black taxi derived from the 1957 Fiat 1200, is to be phased out. The Bombay High Court ruled last week that taxis over 25 years old must be taken off the road by the end of the year. The ruling comes a year later than […]
Foreign Investors Snapping Up Distressed Property Deals
Apr. 17 – Foreign private equity investors are looking to snap up good deals in the Indian real estate market by buying heavily discounted properties affected by the slowing economy. Investors from the EU and Middle East are expected to invest US$400-US$500 million in distressed land deals, reports The Economic Times. Namely Spain’s Nova Capital; […]
