The April manufacturing Purchasing Managers’ Index (PMI) dropped to a record low of 27.4 amidst the lockdown as per an IHS Markit study. With the PMI known to have contracted for the first time in three years, it is by far the lowest since the survey first recorded data in March 2005. Blaming the lockdown of factories and the stringent[Read More…]
Skoda Auto India has introduced a centralised online booking platform. Offering customers the convenience to choose a Skoda vehicle round the clock from the comfort of their home, the company platform is aimed at leveraging the new normal of transparent and contactless experience. Pioneering the online sales experience with the launch of the Octavia RS 245, Skoda is claimed to[Read More…]
The Maharashtra state government recently announced a 67 per cent cut in its spending for developmental works this fiscal. With a budget size second to the state of Uttar Pradesh, Maharashtra has incurred an estimated revenue loss in excess of Rs. 50,000 crore over the months of March and April 2020. As per the expert panel set up, it is[Read More…]
Geneva-based World Economic Forum (WEF) study advocates the use of Blockchain to tackle supply chain failures exposed by COVID-19. Recently, WEF is known to have released ‘Redesigning Trust: Blockchain Deployment Toolkit’ for organisations to accelerate an economic rebound to recover from the pandemic. Enabling leaders to maximise the benefits and minimise the risks of the technology, the toolkit will help[Read More…]
Moody’s Investors Service has cut the FY21 growth projection to zero per cent for India. Warning of a possible rating downgrade for the country subject to fiscal metrics “weakening materially”, the forecast rides on a prolonged or deep slowdown in growth. According to the global rating agency’s latest credit opinion, there are only limited prospects that the government would be[Read More…]
Valeo XtraVueTM Trailer won the ‘2020 PACE Award’ for developing the world’s first drive assist technology. Claimed to help drivers to ‘see-through’ the trailer or caravan while towing, it is said to make the operations simpler and safer. The technology software-controlled cameras are known to have been developed inhouse. Aiding in visualising the environment at the rear of the towed[Read More…]
Press Release The first tranche of the economic package to counter the coronavirus pandemic, announced by the Finance Minister of India, reaffirms the country’s commitment to macro- economic stability, prudent fiscal management and uplifting indigenous manufacturing. The growth tonic for MSMEs such as a collateral-free automatic loan for up to Rs.3 lakh crores, covering borrowers with up to Rs.25 crores[Read More…]
Based on the recommendations made by the Nomination & Remuneration Committee, the NRB Bearings Board recently appointed Ravi Teltia as the Chief Financial Officer effective April 06, 2020. This decision is said to have been made keeping in mind Teltia’s 17 years of professional experience across roles spanning Finance Business Partnering, Controllership, FP&A and Commercial across industrial sectors. Specialised in[Read More…]
Enabling customers to buy a car from the comfort of their homes, Tata Motors launched the ‘Click to Drive’ platform. Said to offer an end-to-end online sales experience, the new platform has been integrated with all Tata Motors dealers across 750 outlets. The OEM aims to add home delivery in the near term. The platform uses an innovative video brochure[Read More…]
Claimed to be India’s first automobile end-to-end online platform for car purchase, Hyundai ‘Click to Buy’ is an attempt to drive sales online amidst the imposed lockdown. Offering a simple and transparent process for the purchase of Hyundai cars, the platform provides a seamless, convenient and safe retail experience for customers. Post launching a pilot phase of this platform with[Read More…]
