India’s auto component exports reached $21.2 billion in FY24, with projections suggesting they could grow to $100 billion as global original equipment manufacturers (OEMs) adjust their supply chains, according to a report released by the Automotive Component Manufacturers Association of India (ACMA) and Boston Consulting Group (BCG). The report indicates that India has moved from […]
Multiple US companies have settled bribery cases with the United States Department of Justice (DOJ) and Securities and Exchange Commission (SEC), paying significant fines to resolve charges of corrupt practices in India and other countries, according to a report by The Pioneer. Key Cases and Penalties Details of Bribery Schemes The SEC orders describe various […]
The Government of India has provided a financial package of approximately ₹1,650 crore to support Rashtriya Ispat Nigam Ltd. (RINL) amid ongoing financial and operational challenges. The state-owned steel producer, which operates a 7.5 million-tonne plant in Visakhapatnam, Andhra Pradesh, has been facing severe cash flow issues, leading to temporary production cuts and the shutdown […]
The electric vehicle (EV) industry is set to invest an estimated $20 billion across South and Southeast Asia (SSEA) as automakers expand their presence in response to anticipated demand growth. A recent report by S&P Global Ratings projects annual EV sales in the region to increase by more than 20% from 2024 to 2026, driven […]
India’s manufacturing sector experienced growth in 2022-23, according to the Annual Survey of Industries released by the Ministry of Statistics and Programme Implementation. The report highlights a 7.3% rise in Gross Value Added (GVA) in the industrial sector compared to the previous year, driven by key industries including basic metals, refined petroleum, food products, chemicals, […]