Automakers focus on exports to increase sales, reduce inventory

Agencies
December 12, 2019

New Delhi, Dec 12: Even as Indian automobile industry's domestic sales performance continues to decline, increased shipments of BS-IV vehicles at attractive prices along with low base effect lifted auto exports to over 17% in November, the third straight month of rise in overseas shipments on a year-on-year (YoY) basis.

Industry insiders and market watchers predict the trend to continue in the coming months to reduce the BS-IV inventory levels.

As per the data furnished by the Society of Indian Automobile Manufacturers (SIAM), the sector's exports across categories was higher by 17.60% at 411,470 units from 349,893 units shipped abroad in November of 2018.

In October, overall exports had grown by 2.72%.

On the other hand, SIAM data showed the sector's total sales declined by 12.05% to 17,92,415 units in November from 20,38,007 units sold during the corresponding month of the previous year.

At present, the domestic market suffers from an economic slowdown which is a culmination of several factors such as high GST tax rates, stagnant wages and a distressed farm sector.

"Exports have improved in both two-wheeler and passenger vehicle segment reporting positive traction in markets outside India. The two segments have shown growth of almost 20% each," said Sridhar V., Partner, Grant Thornton India LLP.

"This healthy traction in exports is a consequence of some of the OEM focus on turning India into a supply hub for markets other than India and have seen acceptability specifically in Middle East, Africa and SAARC regions. It could also be that many are still in BS-IV equivalent and a push in that market is seeing positive results."

According to Suman Chowdhury, President-ratings at Acuite Ratings and Research: "Many of the OEMs have set up manufacturing plants in India to cater to the demand in South Asian and African nations."

"With the significant slowdown in the domestic demand, the focus on exports has increased further. Hyundai, Nissan and Kia Motors have seen a jump in their PV exports in November though the volumes are still insignificant as compared to the domestic volumes."

Furthermore, the data disclosed that passenger vehicles' overseas sales during the month under review rose by 20.37% to 58,562 units this November, on a year-on-year basis.

In terms of passenger cars, exports edged higher by 13.60% to 39,390 units, while utility vehicle' overseas sales grew by 38.16% to 18,909 units.

Conversely, exports of the key indicator of economic activity -- commercial vehicles -- went down by 29.03% to 5,694 units.

The overseas sales of three-wheelers in November rose by 2.04% to 47,827 units.

In the case of two-wheelers, which include scooters, motorcycles and mopeds, exports stood higher by 21.57% to 299,147 units.

The period from April to November 2019 saw the overall automobile exports grow by 3.28%. During the period passenger vehicles and two wheelers exports grew by 5.36% and 6.50%, respectively.

"The growth in two-wheeler exports can be attributed to demand recovery in some key export destinations in African continent as well as Latin America following some stabilisation of macro-economic challenges," said Shamsher Dewan, Vice President, Corporate Sector Ratings, ICRA.

"Apart from two-wheelers, passenger vehicle exports have also grown by 5.3% during FY2020, supported by OEM specific initiative to leverage on manufacturing capacities available in India."

Besides, Dewan said that India's automobile exports are primarily concentrated on nearby markets and developing countries in Africa, Latin America and southeast Asia.

"Accordingly, it is not a reflection of demand recovery in major automobile markets of China, Western Europe etc," Dewan said.

Nonetheless, Fitch Ratings Associate Director Snehdeep Bohra told IANS: "The trend in November coincides with the fact that OEMs are trying to reduce the BS-IV inventory levels to a manageable limit. In this context they seem to have focused on exports."

"However, with some automakers expecting a stable domestic market from next year onwards this may not represent a sustained shift towards exports."

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Agencies
January 25,2020

New Delhi, Jan 25: The Patiala House court on Saturday started hearing a plea filed by the Nirbhaya convicts that alleged that the Tihar Jail administration have "not presented the papers on time".

The Public Prosecutor informed the court that Tihar Jail authorities have already supplied the relevant documents. He further informed that these are mere delaying tactics adopted by the convicts.

Advocate A.P. Singh, lawyer for three of the four death row convicts in the Nirbhaya gang-rape case had moved an application before the court seeking directions to the Tihar Jail authorities to supply him the relevant documents in order to exercise the remaining legal remedies available with the death row convicts -- Vinay Pawan and Akshay.

The Public Prosecutor also told the court that he spoke to the jail authorities over the phone and a report in this regard will be filed shortly as the jail officials were on their way to the court.

The judge demanded from the convicts lawyer to show what he has filed.

The convicts lawyer, A.P. Singh, said that he received some documents, but has still not been supplied with the personal diary of one of the convict -- Vinay Kumar Sharma and also the medical documents.

Judge then asked the lawyer to wait for until the report arrives form the Tihar Jail.

On this, the convicts lawyer said he was not questioning the intention of the jail. "I know the jail has been changed. It isn't there fault, too," he said.

The Public Prosecutor refuted the allegation saying that the defence counsel was trying to defeat the speed of law.

"We have supplied all the documents to the counsel. We have supplied all the documents except the painting and some other documents. We have nothing apart from that," public prosecutor said.

Singh, in his plea filed before the Patiala House Court sought urgent orders of the court in order to file a mercy petition of Vinay Sharma and in relation to requests for documents for convicts Vinay Sharma, Pawan Kumar Gupta and Akshay Kumar Singh.

He further said that the convicts undertook several steps to obtain relevant information necessary for filing the mercy petitions. In regular interval, the convicts requested the concerned authority to supply documents pertaining to their medical records from 2012 to 2015 and 2019-2020, records of cellular confinement, records of the amount earned in prison through labour, records of educational and reformative activities like Tihar Olympics and Painting, etc.

The Supreme court had recently dismissed the curative petition for the other two convicts -- Vinay Kumar Sharma (26) and Mukesh Singh (32).

The court had recently issued death warrant against the convicts and fixed 6 a.m. on February 1 as the date and time of execution of the death penalty.

The 23-year-old victim in the case was brutally gang raped and tortured on December 16, 2012, which later led to her death. All the six accused were arrested and charged with sexual assault and murder. One of the accused was a minor and appeared before a juvenile justice court, while another accused committed suicide in Tihar Jail.

Four of the convicts were sentenced to death by a trial court in September 2013, and the verdict was confirmed by the Delhi High Court in March 2014 and subsequently upheld by the Supreme Court in May 2017, which also dismissed their review petitions.

A Juvenile involved in the crime was convicted by a juvenile justice board and released from a reformation home after serving a three-year term.

Hearing in a different case, Chief Justice of India S.A. Bobde on Thursday said a condemned person cannot fight the death penalty endlessly and it was important for the capital punishment to reach its finality.

The death penalty, he noted, cannot be questioned at every turn by the convict.

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Agencies
July 24,2020

Pune, Jul 24: Agile and dexterous, 85-year-old Shantabai Pawar wields sticks with absolute ease as she displays 'lathi-kathi' on the streets of Pune.

A video of her, displaying her skills in the Indian martial art form for livelihood, has gone viral on social media.

Pawar told media persons that she learnt the art form when she was only eight and has been practising it since then. The ancient martial art s believed to be linked to Dombari community, a nomadic tribe in Maharashtra.

"I have been pursuing the art of lathi-kathi since I was eight. I have never left it. It is part of me and it is an honour to practice it. My father taught me this. He taught me to work hard," Pawar told media persons.

In the video, the sari-clad octogenarian takes a warrior-like stride and effortlessly rotates a stick several times in a second in her hand and around her head and then does it with two sticks together with a smile on her face. She also tosses a stick in the air and catches it with ease.

The assembled gathering is impressed and enthused.

"People come and say, 'Well done Daadi!' I practice it to earn money for my children and grandchildren," she said.

Pawar leaves her home in the morning in the conditions created by coronavirus and performs the art form on roads and streets.

"I go to various areas to perform the art form and people give money," she said.

The artiste also uses thali and stick to gather the attention of people as most of them are indoors due to conditions created by COVID-19.

Senior citizens have been advised against venturing out due to their greater susceptibility to coronavirus but Pawar said she is not afraid to step out.

"People do advise me to not go out due to fear of COVID-19 but I am not scared. Whenever I step out, I pray to my God and he has kept me safe so far," she said.

Aishwarya Kale, a dancer and the person who uploaded the video on social media, said that it is "only an artist who can understand what help another artist needs".

"I was in that area shopping for some items and it was then I saw her performing and thought that I should film her and upload her video on social media. But I never thought that the video would go viral and she would receive financial help not just from people in the country but overseas as well," Kale told media persons.

"She is now getting honour for her craft that she couldn't get in the last 85 years. I feel good that through my small video, her art form has become viral," she added. 

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Agencies
June 26,2020

Facebook will introduce a new notification screen on its platform that will warn users if the article they are about to share is over 90 days old, the company announced on Thursday.

“We’re starting to globally roll out a notification screen that will let people know when news articles they are about to share are more than 90 days old,” Facebook wrote in a blog post.

The social media platform had previously introduced a context button in 2018 that provides information about the sources of articles in the News Feed. Building upon that, the new feature will inform users about the timeliness of the article.

“To ensure people have the context they need to make informed decisions about what to share on Facebook, the notification screen will appear when people click the share button on articles older than 90 days, but will allow people to continue sharing if they decide an article is still relevant,” Facebook said.

The social media giant stated that timeliness is important in understanding the context of an article and curbing the spread of misinformation on the platform.

“News publishers, in particular, have expressed concerns about older stories being shared on social media as current news, which can misconstrue the state of current events. Some news publishers have already taken steps to address this on their own websites by prominently labelling older articles to prevent outdated news from being used in misleading ways,” Facebook added.

Apart from this, the platform will also be testing a similar notification screen for information related to the global Covid-19 pandemic. The notification screen will provide information about the source of the link shared in a post if the link is related to information on Covid-19. It will also direct people to its previously introduced Covid-19 information centre for “authoritative” health information, it said.

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