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  • Countrywide Craze: SUV Sales Jump 40% In Q1’24 Strongly Reflects India’s Quest For Bigger & Better Cars: CARS24 Report

    As per the internal survey, buyers are inclined towards pre-owned cars, again.

    2024 has kick-started with a bang, presenting the automotive industry with more reasons to celebrate than ever before. Amidst this backdrop of optimism, CARS24, a leading player in India’s Autotech landscape, has released its highly anticipated Drive Time Quarterly report, shedding light on the evolving preferences of today’s consumers.

    The trends this quarter go beyond a mere increase in numbers; they reflect a deeper, more meaningful change in the way people view car ownership.

    The first quarter was led by SUV lovers and millennials based out in nooks and corners of the country who saw the value of owning a pre-loved car. The platform recorded an increase in SUV sales coming from non-metro markets. CARS24 also surveyed its customers and found that many expressed their intention to opt for a used car again.

    Hamara Desh Badal Raha Hai: 30% Increase in Acceptance for Pre-Loved Cars

    In the first quarter of this year, a significant shift in consumer behavior unfolded across Tier II and Tier III cities. Compared to the same period last year, there was a striking 30% rise in the inclination towards used cars, eclipsing the demand for new ones. This growing acceptance of pre-owned vehicles indicates a changing mindset among buyers, who are now looking beyond brand-new models. Notably, cities like Ahmedabad, Kochi, Jaipur, Surat, Bhopal, Indore, and Lucknow are embracing this trend, viewing cars as more than just transportation but as symbols of style and status. This surge in interest has further fuelled the market for pre-owned cars with premium features, marking an exciting evolution in the automotive landscape.

    SUVs Steer the Way: Non-Metro Roads Embrace Larger, Premium Rides

    On the open roads of non-metro cities, SUVs have emerged as the frontrunners, witnessing a remarkable 40% surge in sales this quarter. This shift underscores a growing preference for larger, more premium vehicles in Tier II and Tier III cities. Driven by the SUVs’ versatility, comfort, and advanced features, models like the Ford Ecosport, Hyundai Creta, Tata Nexon, Maruti Suzuki Brezza, and Hyundai Venue are leading the charge. The streets are buzzing with excitement as consumers seek the perfect blend of style and substance in their rides.

    Automatic Cars Accelerate: Convenience and Luxury Take Centre Stage

    Additionally, the quarter saw a significant 30% increase in automatic car sales in non-metro markets, reflecting a shift in consumer preferences towards vehicles offering ease of use and integrated luxury features. This trend highlights a growing demand for cars that seamlessly blend premium aesthetics with cutting-edge technology. Features like sunroofs, CarPlay/Android Auto compatibility, alloy wheels, GPS systems, and rear-view cameras have become standard requirements for the modern driver, transforming the driving experience into a seamless and enjoyable journey.

    Investing in Experience: Value-Added Services on the Rise

    Moreover, investment in value-added services (VAS) has seen a substantial rise of 37%, indicating a trend towards enhancing the overall car ownership experience. With an average additional spend of INR 9,600 on services like extended warranties and tech upgrades, consumers are increasingly seeking cars that offer not just utility but also luxury, comfort, and peace of mind. This shift underscores a broader desire for cars that provide a holistic ownership experience, reflecting the evolving needs and preferences of today’s consumers.

    Maruti’s Still the Heartthrob, But Hyundai and Honda Are Sliding Into the DMs!

    Maruti Suzuki keeps winning hearts, with the sleek Swift, the bold Baleno. They’re not just cars; they’re crushes on wheels. But wait, there’s some competition! Hyundai and Honda are not just watching from the sidelines; they’re sliding into the DMs with style and designs turning heads, they’re whispering sweet nothings to the car lovers, promising a ride filled with thrill. More people also opted for SUVs from these brands than ever before. Creta is the most popular followed by Brezza, CRV, and Ertiga. (According to the company’s module, station wagons are also part of SUVs.)

    Top Questions of the Quarter: Kitna Chali Hai and Maintenance Costs

    “Kitna chali hai?” and “Maintenance ka annually kitna kharcha hoga?” have become the catchphrases of the quarter among used car buyers this quarter. These questions reflect a mature and thoughtful approach from buyers, prioritizing not just the immediate appeal of the car but also its long-term financial implications. In addition to these, buyers have also been keenly asking, “Is the car’s history as clean as it looks?” and “Will owning this car make a good impression?” Another important question is, “How quickly can I complete the purchase and start driving?” These queries not only aim to gauge the car’s performance and maintenance expenses but also consider its past, its potential to impress, and the speed of the buying process. This approach shows that buyers are not just excited about getting a new car; they’re also carefully considering the costs, reliability, and the overall process involved.

    Color Trends: Matching the Vibes

    The palette of automotive preferences is undergoing a notable transformation, as color choices shift to mirror the evolving tastes and identities of consumers, particularly among Gen Z. Silver has swiftly outpaced the traditional favorite, white, establishing a new benchmark in vehicle aesthetics. This quarter, we’ve witnessed an embrace of more expressive hues—vibrant reds and cool blues have become popular choices, signaling a departure from the conventional. Additionally, an unexpected contender, earthy brown, has emerged, challenging the dominance of primary colors and illustrating a broader trend toward vehicles that reflect personal style and ethos. It’s clear that today’s buyers, especially those from the Gen Z demographic, are seeking cars that resonate with their vibes and lifestyle, making color selection an integral part of the purchasing decision.

    We wonder if ‘brown munde’ had something to do with ‘brown cars’

    Financier Dreams: INR 335 Crores of Car Loans Disbursed

    Used car financing has now turned into a nationwide movement underscoring a rising quest for financial independence and turning car ownership aspirations into reality. In a mere 90 days, loans worth INR 335 crores were disbursed thanks to a user-friendly financing approach that bypasses traditional down payments, simplifying vehicle ownership. This model particularly resonates with first-time buyers, indicating a significant lean towards more accessible car purchasing avenues. The demographic tilt towards a millennial majority seeking to boost their mobility reflects a deliberate pursuit of personal transport solutions.

    Furthermore, this trend isn’t confined to India’s urban centers; about 30% of loan applicants this quarter came from Tier 2 and Tier 3 cities, demonstrating the widening influence of car financing as a vital tool for vehicle acquisition in more rural areas. The Grand i10 stands out as the preferred choice, highlighting a nationwide consensus across various regions. The average EMI on pre-loved cars in Q1 2024 was INR 10,200.

    The loan process’s efficiency, capable of securing approvals in as little as six hours, mirrors the advancements in financial services and meets the instant needs of contemporary buyers. Moreover, 20% of all the loans disbursed were taken by women signalling a shift from car financing’s traditionally male-centric audience. This change reflects the growing financial autonomy of women and their enhanced role in the economy, promoting gender equity in traditionally male-dominated sectors. These financing avenues empower more women to take control of their car ownership decisions, changing the landscape of economic empowerment and societal norms in India.

    People sold their Cars worth INR 1385 to CARS24

    In the first quarter of 2024, Indians embraced the opportunity to sell their cars to CARS24, resulting in a collective amount of INR 1385 crore in transactions. This period marked a significant uptick in seller participation, indicating a vibrant and active market. What’s noteworthy is how customers actively contributed to addressing the demand-supply gap by introducing newer cars into circulation. This influx of younger vehicles also broadened the array of options available to potential buyers in the pre-owned car market. With younger cars finding eager buyers within minutes of being listed, the market experienced a newfound dynamism, reflecting the evolving preferences and behaviors of consumers across the country.

    Fun Insight – Remember the Maruti Zen

    That tiny titan claimed the title of “Budget King” in the pre-owned car realm. On the 8th of February 2024, someone in Nagpur, Maharashtra, snagged this compact cruiser for a steal- INR 1,15,000. But before the deal was sealed, more than 200 people were eyeing this sweet deal.

    Gajendra Jangid, Co-founder of CARS24, expressed “This quarter has seen our platform come alive, with a remarkable pace of 6 cars being purchased every hour.  The trend towards used cars is stronger than ever, transforming the entire auto scene. It’s not just tweaking the rules; it’s rewriting them in real time. This isn’t a blip on the radar; it’s a seismic wave of change. Old habits are out, new trends are in, and we’re all players in this epic transformation.”

  • India's Copper Demand Bounces Back; Grows 27 per cent in FY22

    Propelled by sturdy coverage reforms throughout sectors, the post-pandemic demand for copper is again on development monitor in FY22 (April 2021 to Mar 2022), registering a YoY development of over 27.5 per cent in India. The demand for crimson metallic stood at 12.5 lakh tonnes in FY22, in comparison with 9.78 lakh tonnes in FY21 on the again of the expansion throughout energy infrastructure, actual property, client durables, and industrial sector in the nation. The findings are a part of the Annual Report on Copper Demand in India (FY22) which was launched by the International Copper Association India (ICA India) in the present day.

    (*27*)

    Copper picture ICA

    The uptick in demand additionally resulted in copper producers ramping up their manufacturing. Indian built-in producers elevated their copper wire rod manufacturing by 28.7% YoY because the demand elevated in FY 22. Copper being a world commodity, is essentially mined in the southern hemisphere of the globe and northern hemisphere is larger consumer of the metallic. With restricted mining in India, (contributing 2.5% of whole demand), India relies on imports of copper focus, anode and blisters for cathode manufacturing. The general cathode manufacturing in India stood at 485 KT and imports at 134 KT. Domestic scrap (copper and brass) amounted to 312 KT with imports of 131 KT. The whole enter materials out there for fabricators was 979 KT.

    Mr. Mayur Karmarkar, Managing Director, ICA India stated, “With the give attention to its imaginative and prescient of Amrit Kaal, a number of coverage reforms of the Government are focused in direction of boosting the secondary sector of the economic system. These reforms, together with PLI scheme, nationwide capital items coverage, 24×7 energy to all, Make in India, NEMMP for EVs, and to grow to be Net Zero by 2070 to call a number of, have led to demand technology throughout key sectors related to copper ensuing in improved copper demand to its pre-pandemic ranges. With the rising affordability and the expansion in India’s center class, the demand for energy-efficient electrical items and better-quality energy will rise. India is at present nearing the flex level of the wealth ‘S‘ curve. After the economic system reaches this level, the consumption of commodities grows at a lot larger fee than in the previous.”

    “With restricted capacities for cathode manufacturing at present operational in the nation, India is trusted imports of cathode & semis to fulfill its demand. The remaining hole is stuffed by domestically generated scrap which lacks strong means of refining and remelting ensuing in poor high quality. In the present background of rising demand, globalization and web zero ambitions of different developed & growing economies, there’s a want for India to develop a copper useful resource technique making certain India’s Amrit Kaal imaginative and prescient is achieved efficiently in a price optimum manner,” he added.

    The report highlighted that 36% of the nation’s demand was met via scrap and 64% via main copper. Cathode, rod and tubes import stood at 297 KT.

    In phrases of sector-wise development, copper utilization in constructing building sector grew by 25.3% whereas copper demand for industrial sector grew by 26.3% on the again of the sturdy home demand situations and better capability utilisation. The authorities’s push to spice up energy infrastructure resulted in 75.7% development in copper demand from this sector. The client durables sector additionally witnessed a development in demand for copper by 15% and copper demand in agriculture sector grew by 16.2%.

    About ICA India (International Copper Association)

    The International Copper Association India (ICA India) is a member of Copper Alliance and the Indian arm of the International Copper Association Limited (ICA), the main not for revenue group for the promotion of copper worldwide arrange in 1959. ICA has been working since 1998 in India and has constructed an lively affiliation with the rising variety of copper customers via its applications. ICA India Programs are dedicated to enhancing the standard of life via higher Electrical Safety, Energy Efficiency, Clean Energy and Sustainability. ICA India’s efforts have been pivotal to advancing higher requirements, throughout varied merchandise, functions and industries, by leveraging upon the superior technical efficiency of Copper.

  • MC Mary Kom steps down as India’s Chef de Mission for Paris Olympics 

    MC Mary Kom
    Indian boxing champion MC Mary Kom steps down as India’s Chef de Mission for Paris Olympics. Photo Courtesy: MC Mary Kom X web page

    Indian Olympic champion MC Mary Kom on Friday stepped down as the Chef de Mission at this summer time’s Paris Olympics.

    She introduced her determination simply weeks after the Indian Olympic Association (IOA) appointed her to the put up.

    Mary Kom, a bronze medal winner on the 2012 London Olympics, has cited private causes for stepping down from the position, reported The Indian Express.

    The Padma Vibhushan awardee knowledgeable the IOA president, PT Usha, the Union Sports Ministry, and the Sports Authority of India (SAI) of her determination by way of an electronic mail on Friday, the Indian newspaper reported.

    It continues to be not clear whether or not her resignation has been accepted.

    On March 21, the IOA introduced contingent officers for the Paris Olympics.

    As a part of the contingent, winter Olympian Shiva Keshavan was named Mary Kom’s deputy.

    Sources advised The Indian Express that Mary Kom had initially been reluctant to take up the position however accepted after being satisfied by Usha and authorities officers.

    “However, she analysed the state of affairs and determined to step down as she didn’t really feel she might do justice to the position owing to private causes,” the supply stated.

    In a multi-disciplined occasion, the Chef de Mission is taken into account as essentially the most essential place.

    Who is MC Mary Kom?

    She is the one girl to win the World Amateur Boxing Championship six occasions, the one feminine boxer to have received a medal in every one of many first seven World Championships, and the one boxer (male or feminine) to win eight World Championship medals.

    Nicknamed Magnificent Mary, she was the one Indian feminine boxer to have certified for the 2012 Summer Olympics, the place she competed within the flyweight (51 kg) class and received a bronze medal.

  • Maruti Suzuki India’s new vehicle assembly plant starts rolling out cars

    Chennai, April 9: Passenger car major Maruti Suzuki India Limited on Tuesday said its new vehicle assembly line at its Manesar facility went on stream rolling out its Ertiga model first.

    According to Maruti Suzuki, the 100,000 units per annum new assembly line added to the existing Plant-A of the three manufacturing plants at Manesar in Haryana.

    With this additional assembly line, the total manufacturing capability at Manesar stands at 900,000 vehicles per annum.

    Cumulatively, the Manesar facility has contributed over 95 lakh units in Maruti Suzuki’s over three crore production milestone to date.

    Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India said, the company plans to double its production capacity to four million vehicles per annum over the next 7-8 years and this capacity addition of 100,000 vehicles per year is a step towards that goal.

    “It will help us serve our customers faster and enhance our overall capability to manufacture up to 23.5 lakh units per annum,” Takeuchi said.

    Maruti Suzuki Manesar facility was inaugurated in February 2007 with the start of Plant A. As customer demand increased, the company added Plant-B in 2011 and Plant-C in 2013.

  • Scripting India’s future by exercising voting rights

    Scripting India's future by exercising voting rightsJDBI college students pledged to vote for a shining India throughout a Systametic Voter’s Education and Electoral Participation (SVEEP) programme organized by the IQAC and NSS wings of the school in affiliation by Election Commission on third April 2024. Over 600 enthusiastic college students along with lecturers and employees participated. The occasion, geared toward encouraging college students to vote and perceive their rights, sparked a way of civic responsibility amongst attendees. Together, they showcased how collective motion can form India’s future.


    Mansi Praharaj

  • IIT Roorkee Unveils Metallurgical Marvels Tracing India’s Ancient

    IIT Roorkee Unveils Metallurgical Marvels Tracing India's Ancient LegacyRoorkee, April 03, 2024: The unveiling of “Archaeometallurgy of India from Rigveda to Vālmīki Rāmāyaṇa” marks a major milestone within the exploration of India’s historic metallurgical legacy. Authored by Shri. Satya Narain and Shri. Navin Chandra, each esteemed alumni of IIT Roorkee, this groundbreaking work delves deep into the texts for the interval Rigveda to the Vālmīki Rāmāyaṇa to unearth the secrets and techniques of historic Indian metallurgy.

    At the guts of this scholarly endeavour lies a profound dedication to preserving and deciphering India’s wealthy heritage texts. By presenting unique Sanskrit texts alongside English translations, the authors open a gateway to the treasures of historic data, inviting readers to journey by the annals of time and unravel the scientific acumen of historic Indians.

    The meticulous evaluation of over 400 “textual metallic proof knowledge” by conceptualized frameworks affords a structured strategy that results in understanding how the six metals of antiquity had been found, occurred, sourced, produced, and formed into the metallic objects within the Vedic Civilization. Through their analysis, the authors make clear how Ancient India entered into the “Metal Age” by discovering hiraṇya (gold) as the primary metallic and āyas because the second metallic, and Ancient India transitioned from the “Neolithic Age” to the “Metal Age” through the Early Rigvedic Period. Subsequently, 4 new metals – silver (rajat), lead (sīsaṃ), copper (loha or lohita), and tin (trapu) had been found through the Late Vedic Period. After that, no different new metallic was found, however early bronze (kāṃsya) was invented throughout the Rāmāyaṇic Period. The minerals/ores of any of the six recognized metals weren’t recognized, resulting in the inference that the metallurgy of the recognized metals was on the “Native Stage” and didn’t advance to the “Ore Smelting Stage.”

    The Rigveda, the oldest textual content within the World, makes use of the time period “āyas” about which numerous views exist concerning its that means.  Interpreting the time period “āyas” within the Rigveda as referring to “meteoric ironstone” reveals an enlightening perception which challenges typical narratives concerning the timelines at which iron first seems within the archaeological report of India

    This work additionally unveils an enigmatic truth: regardless of its discovery, copper remained unused for crafting home objects like beads, vessels, ornaments, and instruments. The conspicuous absence of copper objects all through the Vedic Civilization was not a matter of likelihood however a major proof of excessive chronological significance within the historical past of historic India.

    The new perspective concerning the that means of “āyas” and the conspicuous absence of copper objects throughout Vedic Civilization establishes historic metallurgy of India was distinctive within the World and paves the way in which for a deeper understanding of the historical past of the historic metallurgy of India. This work proposes that the “Metal Age” of the Vedic Civilization predates the “Iron Age” of the Post-Indus Valley Civilization in addition to the “Chalcolithic Age” and “Bronze Age” of the Indus Valley Civilization.  The proposed new relative chronology framework reconstructs a grand narrative of the distinctive historic metallurgy of India, which properly reconciles the “textual metallic proof knowledge” of the Vedic Civilization with the “archaeological metallic proof knowledge” of the Indus Valley Civilization.

    By establishing the Centre for Indian Knowledge Systems, providing programs on studying the Sanskrit Language and analysis endeavours targeted on Indian Knowledge Systems (IKS), the IIT Roorkee goals to bridge the hole between conventional knowledge and trendy academia. The launch of the ebook “Archaeometallurgy of India from Rigveda to Vālmīki Rāmāyaṇa” coincides with IIT Roorkee’s broader initiative to combine Indian Knowledge Systems (IKS) into modern training and analysis. IIT Roorkee’s dedication to leveraging historic knowledge for addressing modern challenges is underscored by ongoing initiatives such because the “Adaptation of Indigenous and Local Knowledge Systems and Fintech Solutions for Comprehensive Tribal Development in Chhattisgarh State.”

    Prof. Okay.Okay. Pant, Director of IIT Roorkee, expressed enthusiasm for the ebook’s launch, emphasizing its twin significance in illuminating historic metallurgical practices and galvanizing future generations of students to discover India’s wealthy mental heritage, he talked about, “Not solely does the ebook make clear the superior metallurgical practices of historic India, however it additionally serves as an invite for students to delve deeper into our wealthy heritage by bridging the hole between conventional Sanskrit texts and trendy evaluation, we hope to encourage a brand new era of researchers to discover the depths of India’s historic data methods and honour the enduring legacy of India’s mental heritage.”

    As the legacy of India’s historic data methods continues to thrive, “Archaeometallurgy of India from Rigveda to Vālmīki Rāmāyaṇa” stands as a beacon of enlightenment, guiding us towards a deeper appreciation of the fantastic cultural inheritance of India.

    The ebook “Archaeometallurgy of India from Rigveda to Vālmīki Rāmāyaṇa” might be quickly out there on the IIT Roorkee’s IKS web site and is on the market on different on-line platforms.

  • India’s defence exports have touched all-time high of INR 21,000 cr says Rajnath Singh

    Rajnath Singh makes major revelation on India's defence exports.
    The Union Minister for Defence, Shri Rajnath Singh addressing on the DefConnect 2024, in New Delhi on March 04, 2024. Photo Courtesy: PIB

    India’s Defence Minister Rajnath Singh on Monday mentioned that for the primary time within the historical past of Independent India, the nation’s defence exports have touched an all time high of INR 21,000 crore within the monetary 12 months 2023-24, which is 32.5 p.c greater than the earlier fiscal.

    In his X submit, Rajnath Singh mentioned, “Delighted to tell everybody that the Indian Defence Exports have scaled to unprecedented heights and crossed Rs 21,000 crore mark for the primary time within the historical past of Independent India!”

    Singh mentioned that underneath Prime Minister Narendra Modi’s ‘visionary management’, the Defence Ministry had taken a number of initiatives to spur India’s defence manufacturing and exports.

    “Our defence industries together with the Private Sector & DPSUs have registered a commendable efficiency within the current years. Congratulations to all stakeholders on crossing the brand new milestone in defence exports,” he mentioned.

    Singh shared the knowledge at a time when India is gearing as much as elect a brand new Lok Sabha (decrease home of the Indian Parliament).

    India will vote in seven phases from April 19 to elect a brand new Lok Sabha.

    The counting of votes will happen on June 4.

  • Jaishankar in Singapore: Promotes India’s semiconductor industry, pays homage to Netaji, delivers lecture

    Indian External Affairs Minister (EAM) Dr S Jaishankar, who’s in Singapore for a three-day go to (March 23-25), yesterday met Singapore’s enterprise group leaders and briefed them on India’s semiconductor trade.

    Jaishankar in Singapore talks about his book
    Indian External Affairs Minister Dr S Jaishankar in Singapore, talking on his e book Why Bharat Matters. Screenshot courtesy: X/@DrSJaishankar

    “There is a level of function and seriousness in addition to funding going into manufacturing that has not been seen for a very long time,” Jaishankar informed a 300-plus viewers, largely Singapore-based members of the enterprise group.

    Jaishankar meets corporate leaders in Singapore
    Indian External Affairs Minister Dr S Jaishankar meets company leaders in Singapore. Photo courtesy: X/@DrSJaishankar

    The visiting Indian minister’s schedule features a assembly with Singapore Prime Minister Lee Hsien Loong, and he has already delivered a lecture on the Institute of South Asian Studies (ISAS) of the National University of Singapore (NUS) mixed with a session discussing his e book Why Bharat Matters.

    Today, Jaishankar addressed a gathering of the Indian group in Singapore.

    Upon arrival yesterday, Jaishankar paid tribute to Netaji Subhash Chandra Bose, the good Indian chief and freedom-fighter, at a Singapore landmark. He posted on X: “Began my Singapore go to by paying homage to Netaji and the courageous Indian National Army troopers.”

    The X submit added: “The INA Marker in Singapore acknowledges their deep patriotism and indomitable spirit that stay an inspiration for generations to come.”

    Jaishankar pays tribute to Netaji in Singapore
    Indian External Affairs Minister Dr S Jaishankar pays tribute to Netaji Subhash Chandra Bose in Singapore. Photo courtesy: X/@DrSJaishankar

    After this, Jaishankar delivered the lecture and met the Singapore enterprise leaders.

    Interacting with the enterprise leaders, the Indian EAM talked in regards to the strides taken by India in the sector of manufacture of semiconductors; he urged them to make investments in this key sector in the nation.

    Also read: PM Modi attends India’s Techade: Chips for Viksit Bharat event, lays foundation stone for 3 semiconductor facilities

    Jaishankar spoke about how machines for the manufacture of semiconductors had began coming to India, and likewise how India was progressing in direction of establishing the primary three crops for this multi-billion greenback trade. He was answering questions at ISAS, after a chat on his e book Why Bharat Matters.

    Following this, Jaishankar shared some images and posted on X: “A really productive interplay with main Singaporean company figures. Appreciate their constructive suggestions on the India development story, based mostly on funding experiences. Confident that their dedication to doing extra enterprise in India will additional enhance.”

    Addressing his viewers yesterday, Jaishankar highlighted “an excellent world manufacturing response to the Production Linked Initiative (PLI) Scheme”, however on the identical time reminded the listeners that India had missed the manufacturing bus in the earlier a long time.

    Semiconductors are an integral part in nearly all the pieces, from digital devices to client items and from photo voltaic panels, satellites to weapons. Currently, India imports nearly 90 per cent of its necessities of semiconductors.

    Combining the 2 major focus areas, ‘Digital India’ and ‘Make in India,’ the Modi authorities has launched ‘India Semiconductor Mission’ as a specialised and impartial enterprise division to allow India’s emergence as a world hub for electronics manufacturing and design.

    Jaishankar informed the investor viewers in regards to the three semiconductor crops being arrange in India, and mentioned, “We have began to get equipment for semiconductors right now to begin to construct in India.” The manufacturing message was being taken throughout the nation, and clearly with higher logistics and higher expertise, he identified.

    The EAM additionally knowledgeable the viewers that the Government of India had entered into agreements with the nation’s universities for coaching. This can be achieved by modernising and tweaking engineering programs in a method that might assist the circulation of sources for the semiconductor trade.

    “Right now, we are literally taking a look at a plan which might give us in the approaching years a minimum of 85,000 new individuals for jobs in the semiconductor zone…. [This] is one thing which we anticipate to develop,” mentioned Jaishankar to the Singapore viewers.

    Elaborating on India’s targets for financial development, he mentioned, “That is one thing which is going on, the 2030 objective, and there’s a 2040 objective, and there’s a 2047 objective.”

  • India’s forex reserves surge for 3rd week in row to touch $642.5 billion mark

    India's forex reserves surge for 3rd week in row to touch $642.5 billion mark

    India’s forex reserves surge for 3rd week in row to touch $642.5 billion markIANS

    India’s international trade reserves surged by $6.4 billion to touch a sturdy $642.5 billion for the week ended March 15, the most recent information launched by the RBI on Friday confirmed.

    This is the third consecutive week marking a giant leap in the nation’s forex kitty. In the previous week that ended on March 8, the international trade reserves had risen by a whopping $10.47 billion to scale a two-year excessive of $636.1 billion.

    Similarly, over the past week of February, the nation’s international trade reserves had shot up by a powerful $6.55 billion to $625.63 billion.

    Rising international trade reserves are a constructive for the financial system as they replicate an ample provide of {dollars} that assist to strengthen the rupee.

    An enhance in the international trade reserves offers the RBI extra headroom to stabilise the rupee when it turns unstable.

    This is as a result of the RBI intervenes in the spot and ahead foreign money markets by releasing extra {dollars} to stop the rupee from going right into a free fall.

    Reserve Bank of India (RBI)

    Reserve Bank of India (RBI)IANS

    Conversely, a declining forex kitty leaves the RBI much less house to intervene in the market to prop up the rupee.

    The excellent news on the international trade reserves additionally comes on the again of exports touching an 11-month excessive in February and a decline in the commerce deficit. This signifies a strengthening of the nation’s exterior stability which augurs nicely for the rupee going forward.

    (With inputs from IANS)

  • Empowering India’s Workforce for the Future

    Amidst the current announcement of the Electric Vehicle (EV) coverage by the Government, signalling a decisive transfer in direction of sustainable transportation, and the introduction of the Production-Linked Incentive (PLI) scheme to bolster the automotive sector, the Automotive Skills Development Council (ASDC) emerges as the driving power behind India’s journey in direction of electrical mobility. ASDC’s unwavering dedication to equipping India’s workforce with the requisite abilities is poised to catalyse this transformative shift in the automotive panorama.

    FR Singhvi Sir

    The forecast by the NITI Aayog indicating a major shift in direction of electrical mobility by 2030 presents each a problem and a possibility for India. As the nation embraces cleaner and extra sustainable modes of transportation, there arises a urgent want for a talented workforce able to driving innovation, manufacturing, and upkeep in the electrical automobile sector.

    ASDC recognises the immense potential of this transition and has been at the forefront of skilling initiatives tailor-made to satisfy the calls for of the evolving automotive business. Through strategic collaborations with business stakeholders, instructional establishments, and the authorities, ASDC has been instrumental in growing a strong ecosystem for skilling and upskilling in electrical automobile applied sciences.

    ASDC’s dedication to staying abreast of business developments is obvious by means of its various vary of skilling initiatives tailor-made to satisfy the calls for of the quickly evolving automotive business. One such initiative is the Electric Mobility Nanodegree Programme, a six-month program developed in collaboration with DIYguru, designed for people with an engineering or diploma background. This program equips members with complete data and abilities in electrical automobile applied sciences.

    The PLI scheme launched by the Government serves as a catalyst for home manufacturing and investments in the automotive sector. ASDC views this as a major alternative to align skilling efforts with business necessities, thereby making a expertise pool that isn’t solely job-ready but in addition adept at leveraging cutting-edge applied sciences.

    Currently, ASDC provides a variety of programs particularly designed to cater to the rising wants of the electrical automobile section. These programs cowl varied facets of EV expertise, together with battery administration methods, energy electronics, electrical automobile design, and upkeep.

    Furthermore, ASDC is dedicated to increasing its attain and affect by means of revolutionary skilling packages and initiatives. The council goals to collaborate with business leaders to develop superior coaching modules, set up state-of-the-art coaching amenities, and facilitate apprenticeship packages to bridge the ability hole in the electrical automobile ecosystem.

    F R Singhvi, President of ASDC, remarked, “In the wake of India’s bold Electric Vehicle (EV) coverage and the Production-Linked Incentive (PLI) scheme, ASDC spearheads the skilling initiatives of the nation’s journey in direction of sustainable transportation. With about 3,000 candidates enrolled in EV job roles and greater than 11,000 learners enrolled for e-learning programs, ASDC stands as the vanguard of skilling initiatives for new automotive applied sciences. As NITI Aayog forecasts a shift in direction of electrical mobility by 2030, ASDC sees each problem and alternative. Through strategic partnerships and revolutionary packages like the Electric Vehicle Safety Program for E-Bus stakeholders, ASDC ensures a talented workforce able to drive innovation. With a dedication to aligning skilling efforts with business wants, ASDC paves the means for India to emerge as a worldwide chief in electrical mobility.”

    As India embarks on its journey in direction of a greener and extra sustainable future, ASDC stays steadfast in its dedication to nurturing expertise and driving excellence in the automotive sector. Through strategic skilling initiatives and partnerships, ASDC envisions a future the place India’s workforce emerges as a worldwide powerhouse in electrical automobile expertise and innovation.


    Mansi Praharaj