India's diesel exports to Europe dropped to 210,000 bpd in April due to US and Gulf competition. Vortexa tracked weakened margins. Asian exports grew. Ukrainian conflict spurred Russian diesel replacement.
India is a bright spot for the Japanese auto giant, accounting for as much as 89% of the incremental volume of 168,000 units sold by Suzuki globally in the last fiscal year. While sales fell in several key markets, the Indian subsidiary posted a 9% increase in volume at 1.79 million units in fiscal 2024.
Each plant will have a production capacity of 200,000 kilo litres of ethanol per day. These will be set up in Andhra Pradesh's Naidupeta and Madhya Pradesh's Balaghat, and are slated for commissioning by 2026. The company will use broken rice and maize for feedstock. In the long run, the company plans to have five ethanol manufacturing plants.
Car manufacturers are adopting sophisticated glass coatings to maintain cool temperatures inside vehicle cabins, reducing the reliance on air conditioning as temperatures soar above 45°C in certain Indian cities during the summer. This initiative coincides with the trend towards larger vehicles like SUVs and electric models, which demand more battery pack space, resulting in larger glass surface areas and thermal loads
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.
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.
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.
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 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.
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.
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.
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