The sales of total vehicle retail grew 14 per cent to 18,26,669 units in January from 16,08,505 units in the corresponding month of 2022, the Federation of Automobile Dealers Associations (FADA) said on Monday. According to FADA, passenger vehicles (PV) grew 21.92 per cent to 3,40,220 units in January 2023, against 2,79,050 during the same […]
India has been going big on electronic manufacturing for the last few years and in December 2022, Apple became the first company from the country to export smartphones worth USD 1 billion in a month. According to an article by Economic Times, December was the record month for the industry with mobile phone exports of […]
The Indian Budget 2023 has allocated significant resources to the logistics sector with the aim of improving efficiency and reducing costs. The Financial Minister Nirmala Sitharaman on Wednesday noted that 100 critical transport infrastructure projects have been identified for the connection of ports, coal, steel, fertiliser, and food grains industries. She added that they will […]
The Union Budget for the fiscal year 2023-24 will be presented in Parliament on 1 February by Finance Minister Nirmala Sitharaman, and the clock has already started ticking. The retail industry has a big wish list for Budget 2023 and retailers in the country express their hopes for the industry ahead of the Budget. Electronics […]
Delhivery has grown its involvement with several D2C businesses, including The Souled Store, a casual apparel brand, and Nestasia, a home-decor firm, the company said in a regulatory filing on Monday. While Nestasia and The Souled Store employed Delhivery’s express parcel services at first, both now use Delhivery’s enormous warehouse network and supply chain skills […]
The ministry of textiles has cleared 15 research and development projects worth Rs 32.25 crore across key strategic areas such as speciality fibres, protective textiles, high-performance textiles, geotextiles, medical textiles, sustainable textiles, and textiles for building materials. An official statement from the ministry of textiles said among these 15 R and D projects, seven projects […]
Apple wants India to account for up to 25 per cent of its output, up from 5 per cent-7 per cent, according to the commerce minister, as the iPhone manufacturer continues to shift production away from China. Piyush Goyal touted India as a competitive manufacturing site, citing Apple as another success example. Apple already manufactures […]
5G smartphone shipments will increase by 70 per cent year on year by the end of 2023, after a 13-fold increase in 5G smartphone sales from the year of its initial debut in 2020,according to a Cybermedia Research research (CMR). 5G smartphones are estimated to account for 45 per cent of the market in CY2023, […]
India’s overall export declined by 5.26 per cent to USD 61.82 Billion in December 2022, as per the data released by the Ministry of Commerce and Industry on Monday. The ministry’s data showed that overall imports in December 2022 stood at USD 73.80 billion, a negative growth of 1.95 per cent over the same period […]
The Economic Cooperation and Trade Agreement (ECTA) signed between India and Australia would provide immediate market access at zero duty, accounting for 96.4 percent of India’s exports to Australia in value terms, as per PIB statement Department of Commerce and Industry, Rajesh Agrawal says: “The Department of Commerce has achieved the unique distinction of operationalizing […]
