India economy & business news in brief for Nov 27: Major India automakers plan price hikes in January 2024
A Maruti Suzuki vehicle. (Photo by Chandan Khanna/AFP via Getty Images)
HERE are news in brief on Indian economy and business for Monday, November 27, 2023:
Automakers Maruti Suzuki, Mahindra & Mahindra and Audi India on Monday announced plans to hike prices of their passenger vehicles in January 2024 citing reasons, including cost pressure driven by overall inflation and increased commodity rates. Tata Motors and Mercedes-Benz India are also mulling increasing the prices of their models from January. The country’s largest carmaker Maruti Suzuki India, on Monday said the price hike would vary from model to model. Mahindra and Mahindra CEO (automotive division) Nalinikanth Gollagunta said that based on the inflation and commodity prices outlook, “we intend to take a price increase for our automotive products effective January 2024.”
Raymond chairman and managing director Gautam Singhania has assured his company’s employees and board members that it is “business as usual” and added that the operation will continue without any disruption despite his personal trouble. Singhania, who recently got separated with his wife Nawaz Modi, said he would not make any remark on media reports about matters pertaining to his personal life. He said in an email to the employees and board members that maintaining his family’s dignity remained paramount for him.
Communications are on between the government of the eastern Indian state of West Bengal and the Adani Group over the Tajpur deep-sea port project in the state, which is to be developed by the business conglomerate headed by industrialist Gautam Adani, state minister Shashi Panja said on Sunday. Addressing a press conference on “West Bengal Day” at the India-International Trade Fair being held in New Delhi, Panja said the project is on. She was asked about the deal and the Adani Group’s absence from the Bengal Global Business Summit.
Amazon India on Monday announced the launch of a programme, Aurora, which will leverage the talent of individuals with learning disabilities and provide employment to them. The e-commerce giant rolled out a successful pilot of the programme with a non-profit Mumbai-based organisation Sol ARC in harnessing the talent of a batch of young adults in its delivery stations in Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Amazon India said in a statement. Besides hiring talent with learning disabilities, Amazon’s programme, Aurora, will also focus on building groundwork and support mechanisms, such as increasing employee awareness and inspiring employees to be allies to those with learning disabilities.
India’s mines ministry is organising an outreach programme on the role of the government and industry in driving the global action of critical minerals in New Delhi on Wednesday. According to a release from the ministry, the event to be held at the newly-built Bharat Mandapam will be attended by ambassadors and mission heads of various countries as well as representatives of businesses in India and other stakeholders. The ministry is in the process of preparing a policy for critical minerals, which will include a road map for strengthening the supply chains. The strategy will also identify the responsibilities of different ministries in ensuring the resilience of the supply chain of critical minerals.