Honda Cars India Ltd reported a 20% increase in total sales for 2024, with exports more than doubling. However, domestic sales dropped by 18.55%. Notable achievements include record exports primarily driven by the mid-size SUV Honda Elevate, and anticipation for a strong 2025 with new models.
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Budget 2025 expectations: Finance Minister Nirmala Sitharaman is expected to increase fund allocations for the RoDTEP and RoSCTL schemes by nearly 10% each in Budget 2025-2026. This aims to address export demands and extend benefits to SEZs and export-oriented units, amid counters to challenges and tariff war opportunities.
Chinese stocks experienced their worst start to the year in nearly a decade due to weaker-than-expected manufacturing data and impending tariff hikes. The CSI 300 Index fell 2.9%, with the Hang Seng China Enterprises Index dropping 3.1%. Concerns over the economic recovery and lack of significant stimulus measures contributed to the market's fragile sentiment.
Senior officials from India's commerce ministry are meeting with commercial representatives from 20 countries to discuss strategies for boosting exports. The focus is on six key goods and services sectors, addressing non-tariff barriers, logistics, and WTO matters. Commerce Minister Piyush Goyal will also participate. India's export-import data reflects a significant trade deficit due to rising imports in November.
India's economic environment is favorable for private investments, revealing a bright outlook despite global challenges, according to a CII survey. It indicates a significant increase in employment and wage growth, with 97% of firms planning to hire and 75% seeing the conditions conducive for investments till FY26.
Budget 2025 income tax: Assocham urges Finance Minister Nirmala Sitharaman to reduce personal income tax rates in the Union Budget 2025, highlighting the substantial gap between personal and corporate tax rates.
Sebi has launched a certification course focused on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) to enhance understanding among securities market intermediaries. The course covers principles under various legislative acts and promotes awareness of AML and CFT guidelines, aiding compliance. Developed with NISM, this initiative strengthens capital market regulations.
India's retail inflation hit a 5-year low of 3.3% in March, driven by significantly lower food prices. This development is expected to prompt the RBI to cut interest rates to bolster growth amid global economic uncertainties. Experts anticipate retail inflation to remain stable, although geopolitical tensions and weather events require monitoring.
India's foreign exchange reserves fell by $4.112 billion to $640.279 billion for the week ending December 27. This decline follows an earlier drop of $8.478 billion. The decrease is largely due to revaluation and RBI's forex market interventions. Foreign currency assets dipped by $4.641 billion, while gold reserves increased by $541 million.
Global passenger numbers are projected to reach 22.3 billion by 2053, nearly 2.4 times the volume for 2024, as per the Airports Council International's airport traffic forecasts. Key factors include rising middle-class travel demand in emerging markets, strengthened international travel, and investments in airport infrastructure.
Elon Musk faced significant setbacks on March 10, with Tesla's stock plummeting by over 15% and his social media platform X experiencing major outages. The twin crises coincided with market panic and increasing criticism of Musk's political ties to Trump's administration. Additionally, Tesla's declining sales and growing competition, particularly from China's BYD, compound the challenges.