India

China's President Xi Jinping will be in India tomorrow for an informal summit with Prime Minister Narendra Modi as the two sides attempt to boost ties, which took a hit because of Beijing's stand on Kashmir. During his two-day visit, Mr Xi will hold talks with Mr Modi at the temple town of Mamallapuram - also known as Mahabalipuram and which dates back to the 7th century - some 56km away from Chennai, the capital of the southern Tamil Nadu state. The two leaders will also sit through a cultural programme and visit ancient temples and monuments, all part of an effort to strengthen ties at the highest level since the last informal summit last year in Wuhan in China. A press release from India's Ministry of External Affairs said the summit "will provide an opportunity for the two leaders to continue their discussions on overarching issues of bilateral, regional and global importance". China's Ambassador to India Sun Weidong expressed the hope that the "strategic guidance and friendship" … [Read more...] about Modi, Xi holding informal summit in bid to bolster ties

PARIS (AFP) - India received on Tuesday (Oct 8) the first of 36 Rafale fighter jets ordered from France in 2016 in a multi-billion-dollar deal that Paris hopes will unlock more sales despite being tainted by suspicion of corruption. Defence Minister Rajnath Singh joined his French counterpart Florence Parly for a ceremony at the Dassault Aviation factory in Merignac, near the south-western city of Bordeaux, on the Indian Air Force's birthday. Standing next to the plane, decorated in the colours of the Indian flag, Singh hailed a "historic and landmark day for the Indian armed forces", noting the Rafale "will add to the strength of our air force". India, which in February fought air battles with arch-rival Pakistan over their shared territory of Kashmir, is seeking to renew its ageing fleet of Jaguar, Mirage 2000, Sukhoi 30, and Mig 21 and 27 jets. It signed a deal in 2016 to buy 36 Rafales from France, but delivery has been held up by corruption allegations levelled by the opposition … [Read more...] about India takes first delivery in controversial French jet deal

NEW DELHI (BLOOMBERG) - Hyundai Motor launched India's first electric SUV this summer with a quirky TV commercial urging millennials to "Drive Into the Future". A few months later, the automaker finds itself on a lonesome road. In a nation of about 150 million drivers, only 130 Kona SUVs were sold to dealers through August. That slow pace is emblematic of the difficulties carmakers face in establishing an electric foothold in the fourth-biggest auto market, even with committed government support. The Kona sells for about US$35,000 (S$48,200) while the average Indian earns about US$2,000 a year - and the best-selling gas guzzler costs US$4,000. Yet Kona's sticker price only kicks off the conversation about why EVs aren't gaining traction in India - there's also a lack of charging infrastructure, a reluctance by banks to finance purchases and an unwillingness among government departments to use EVs as directed. Barely more than 8,000 EVs were sold locally during the past six years, … [Read more...] about India has 150 million drivers, and only 8,000 want electric cars

In India, the government gets the jitters when the price of onions, a staple in Indian cooking, goes up. Onion prices have doubled and even tripled in many cities over the past few weeks, going for anything from 60 rupees (S$1.17) to 100 rupees a kilogram, much to the dismay of consumers. Some state governments are subsidising the vegetable; in Delhi, for example, government-run enterprises are selling it for 24 rupees a kilogram. The prices began spiking after erratic rainfall affected crops. Prime Minister Narendra Modi's government swung into action on Sunday, banning the export of onions and imposing stock limits on onion traders to prevent hoarding to artificially drive prices up. Retail traders can stock only 10,000kg of onions at a time and wholesalers 50,000kg. Farmers and traders predicted that prices would drop substantially in the next three to four days on the back of government measures. But for consumers, the prices continue to pinch for now. Ms Aslina Bibi, a cook, said … [Read more...] about Rise in onion prices brings tears to eyes of India consumers

The southern city of Chennai is often known as the Detroit of India. And not without reason. It is home to the manufacturing units of top carmakers like Hyundai, Ford, BMW, Nissan and Renault, two-wheeler leaders TVS, Yamaha and Royal Enfield, truck and tractor makers Ashok Leyland and Tafe, and a whole ecosystem of auto-component makers. Many, though, are now anxious about the future of Chennai's status as an auto hub. Vehicle manufacturers in India say they are experiencing the worst downturn in 25 years. Sales have fallen for the 10th consecutive month, with August registering 31 per cent less sales than a year earlier. September may not have fared much better. Major companies reported a double-digit drop in their August sales. In the last three months, they have stopped production for five to 15 days a month. Maruti Suzuki, which enjoys the biggest market share in India, suffered a whopping 34 per cent drop in sales in August, and its Haryana plants announced their first two … [Read more...] about Rough ride for India’s car industry