The operations of domestic automobile manufacturers may get further impacted if the lockdown in several cities of China, including Shanghai, to check Covid-19 infections gets prolonged.

The domestic forging industry said the Union Budget 2022-23 is focusing on investing more in infrastructure and renewable energy, that will indirectly support employment generation.

Getting a foothold in India for his Tesla is not going to be easy for Elon Musk. He stated that, he is still working through a lot of challenges with the government, in a Twitter post.

Speed breakers such as the third COVID-19 wave triggered via the spread of the Omicron variant in India as well as rising commodity prices might decelerate the automobile industry's recovery.

India Ratings and Research (Ind-Ra) November 2021 report highlights the trends in the sub-segments of the auto sector, including passenger vehicles (PVs) and two/three-wheelers (2W/3Ws), focussing on sales volumes growth.

With the ripple down effect of declining automobile sales, the forging industry is facing the heat with a sharp decline in demand.

According to ICRA, the Production-Linked Incentive (PLI) scheme of Rs 259.38 billion has the potential to make India an export hub in the global auto supply chain and increase cost competitiveness.

The government has issued notification regarding Production Linked Incentive (PLI) Scheme for automobile & auto components.

Government’s productivity linked incentive (PLI) scheme for auto and component industry is set to change it in a big way through electric vehicles (EV), new technologies and new players in the market.