News From ETBureau

More from ETBureau

• Your next interstate bus could soon be electric; govt plans to scale up charging infra along key routes

  The Indian government plans to introduce electric buses on long-distance routes to accelerate the country's green mobility shift. The plan focuses on interstate passenger transport, with an estimated 1.25-1.45 million buses operating on intercity or interstate routes. The shift to electric buses will reduce emissions and improve the viability of buses over long routes. Incentives are being planned to catalyze the shift towards electric buses.

  

• Anil Agarwal likens critical minerals to gold, says India should ensure self-sufficiency

  The chairman of the natural resources conglomerate Vedanta said that not only are these minerals fundamental for new age technologies, they are also green metals.

  

• FMCG, auto companies break the jinx as rural growth rises above urban

  Rural FMCG demand outpaced urban markets in Jan-Mar 2024. Car companies reported higher rural sales. NielsenIQ noted 7.6% rural growth. Factors include robust rabi crop and government measures. Maruti Suzuki saw record rural sales.

  

• Diesel, petrol export revenues dip 20% to USD 33 bn in 2023-24

  India's exports of diesel and petrol fell by a fifth year-on-year to USD 33 billion in 2023-24 due to declining international prices. Diesel generated the largest share of export revenues for Indian refiners, accounting for USD 22 billion of the USD 48 billion earned by exports of refined fuels. The war in Ukraine and Western sanctions on Russia caused fuel prices to rise, boosting export earnings for Indian refiners.

  

• Ampin Energy secures INR 292 crore from Swiss firm ResponsAbility

  Ampin Energy Transition raised USD 35 million to expand solar capacity to 10GWp by 2030, supporting India's 500 GW renewable energy target. The investment aims to drive the transition for commercial and industrial customers, led by CEO Pinaki Bhattacharyya.

  

• New MSME payment clause in I-T Act: Supreme Court tells traders to move HC

  On Monday, the Supreme Court declined to address a plea filed by various traders' associations contesting the legality of Section 43B(H) within the Income Tax Act. This section mandates that businesses settle their outstanding payments with micro, small, and medium enterprises (MSMEs) within 45 days to avail tax benefits.

  

• Authorised car dealers can claim input tax credit on demo cars: AAR

  GST Authority ruled dealers can claim input tax credit on demo cars. Landmark Cars East Pvt Ltd sought ruling on taxation aspects, specified time period for inward supply to potential Mercedes Benz car buyers.

  

• Plan in works to revamp goods and urban transport

  India is planning a comprehensive overhaul of its urban transportation system, aiming to merge metro and bus services while prioritizing the adoption of clean energy. The proposal also includes incentives to encourage environmentally friendly intra-city freight transport using small trucks.

  

• Ashok Leyland plans flurry of launches to boost light trucks market share

  Ashok Leyland, the Hinduja Group flagship, is set to introduce six new light commercial vehicles (LCVs) in the next year, aiming to boost its market share in the segment to 25% from the current 20%. Amandeep Singh, president of LCV, international operations, defence, and power solutions at Ashok Leyland, revealed the company's plans to launch a new model of the Dost range every alternate month, starting from this month.

  

• Govt mulls survey to estimate cost of logistics incurred by businesses

  Government plans a survey with NCAER to estimate logistics costs accurately for businesses. DPIIT aims to improve World Bank Logistics Performance Index. The survey will provide insights into transportation costs and administrative bottlenecks.

  

• India new land of rising sun for auto exports

  India's auto industry attracts global players like Honda and Suzuki for exports, with a focus on quality and cost efficiency. The country's emergence as a key manufacturing hub reflects its appeal to major auto manufacturers.