Auto industry targets 28 components boosting make in India

Vehicle Registrations Surge to 2.1 Million in January

As per data compiled by the Federation of Automobile Dealers Association (FADA) from the VAHAN portal of the Ministry of Road Transport and Highways (MoRTH), January witnessed a remarkable surge in vehicle registrations, reaching a total of 2,127,653 units. This figure marks a substantial increase from the 1,849,691 units registered during the same period last year.

With rural markets showing signs of recovery, vehicle retailers are optimistic about sustaining this momentum in the upcoming months. FADA President Manish Raj Singhania expressed positivity, stating that the year commenced..

Government urged to lay out long-term auto regulations roadmap

The government should avoid changing its mind on regulations for the automotive industry and instead lay out a long-term roadmap, said Soumitra Bhattacharya, managing director of Bosch India. He said this would give greater confidence to businesses in India and around the world.

Bhattacharya said that original equipment manufacturers (OEMs) and tier-one suppliers like Bosch India could invest in training, skills development and capital expenditure once the government released a long-term policy.

The comments came after the government repeatedly delayed the introduction..

Harsha Kadam, CEO, Schaeffler India and President, Industrial Business

(Ball and roller bearings)

The auto components industry will see more investments if further clarity is provided on the PLI Scheme announced in 2020.

Implementation of the scrappage policy will also improve sales that will benefit the industry and environment.

From an overall manufacturing industry perspective, stabilisation of raw material prices is of importance to the industry, promoting finished goods exports will in turn increase forex reserve and a p..

PNB Official Accused of Embezzling Rs 5 Crore from Bhopal Firm

The Central Bureau of Investigation (CBI) has charged a Punjab National Bank (PNB) official with embezzling approximately Rs 4.98 crore from a Bhopal-based infrastructure construction company. The head cashier, Mukul Singh, allegedly conspired with a private individual, Vinod Kumar Singh, to commit the fraud.

The incident occurred at PNB?s Delhi Road Branch in Hapur, Uttar Pradesh. According to CBI officials, Mukul Singh, without proper authorization, merged the account of Dilip Buildcon Ltd with that of Vinod Kumar Singh?s company, Star Raze. Subsequently, funds amounting to Rs 4.98 cr..

KMRL's Rs.1.16 Bn Project Delayed Due to Lack of Government Support

The Kochi Metro Rail Limited (KMRL) is experiencing setbacks in its ?1.16 billion project as several government departments have reportedly failed to provide necessary support. The project, aimed at enhancing urban transportation infrastructure in Kochi, has encountered delays due to bureaucratic hurdles and insufficient cooperation from concerned government bodies.

According to sources familiar with the matter, the project's progress has been significantly hampered as key departments have not fulfilled their commitments, including providing essential clearances and approvals. This lack..