BUSINESS
Tesla produces 10K Model Y cars at new Texas Gigafactory
Elon Musk opened the Austin, Texas-based Gigafactory in April this year, as he aimed to take his electric car company to the next phase of growth with the production of Cybertruck. "10,000 Model Ys built at Giga Texas to date," Tesla said in a tweet. Along with Cybertruck, Tesla also displayed a new Roadster vehicle that is likely to go into production next year at the Texas facility.
Sparkling bright or a dark Diwali? Fireworks industry in suspense
With Diwali this year to be celebrated next month - and virtually without any curbs and the Covid pandemic wanes, the question gains more importance. Production of fireworks in Sivakasi in Tamil Nadu's Virudhunagar district, is yet to pick up even as there is just a month to go for the festival of lights, industry officials said.
Aiming decriminalisation of offences, CBDT issues revised guidelines for compounding
Some of the major changes made for the benefit of taxpayers include making the offence punishable under Section 276 of the Act as compoundable. Further, the scope of eligibility for compounding of cases has been relaxed whereby the case of an applicant who has been convicted with imprisonment for less than 2 years being previously non-compoundable, has now been made compoundable.
Logistics policy fulfills vow of India being a developed nation: PM Modi
"To ensure quick last mile delivery, end transport-related challenges, save time and money of the manufacturers, prevent wastage of the agro-products, concerted efforts were made and one of the manifestations of those efforts is today's National Logistics Policy," Prime Minister Narendra Modi said.
Chinese mobile firms plan to set up plants elsewhere amid India crackdown
The report, citing a Chinese executive based in India, claimed that companies will evaluate bilateral ties, market potential, preferential policies and labour costs to set up manufacturing plants elsewhere. OPPO is going to set up a $20 million mobile phone plant in Egypt.
Global artificial intelligence market to reach $450 bn in 2022
In 2021, the global revenues for the AI market, including software, hardware, and services for both AI centric and AI non-centric applications, reached $383.3 billion, an increase of 20.7 per cent over the prior year, according to the International Data Corporation (IDC).
'Make in India' smartphones share reach 16% with 44 mn units
The Indian government's push with multiple PLI schemes has been showing a positive impact and "we saw increased local manufacturing share in product segments like smartwatch, TWS, neckband and tablet", said Counterpoint Research.
Sitharaman participates in roundtable conference with Singapore, discusses bilateral ties
During the meeting, the Ministers emphasised on ways of enhancing cooperation between the two countries in the emerging and futuristic areas. The two sides deliberated upon a wide range of issues which inter alia included financial sector operations, fintech, regulatory cooperation, investment opportunities and current economic arrangements.
RBI ready to bring card tokenisation norms into effect from Oct 1
Several people were cheated in the last few years by cyber frauds because they have stored their card data on the merchants website for future payments. Lets us understand what these new norms are and why you should tokenise your card.
Economic growth to improve in coming months, says govt's monthly economic review
The review noted that as external pressures will diminish, inflationary pressures are expected to wear down. India's GDP growth was 13.5 per cent in the first quarter of the current fiscal. "Increase in private consumption and higher capacity utilisation in the current year has further reinvigorated the capex cycle to take the investment rate in the first quarter of 2022-23 to one of its highest levels in the last decade," it said.
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