India’s auto sector is reeling from a slowdown like never before. Passenger vehicle sales fell for eight straight months until June, and in May sales dropped 20.55% – the sharpest recorded fall in 18 years. Sales across categories, including passenger vehicles and two-wheelers were down nearly 19% in July 2019, according to data released by the Society of Indian Automobile Manufacturers (SIAM)…
Waking up each morning to gloomy news on most indicators related to the economy might make one believe that we are well and truly in the middle of a depression. Perhaps in response to this sentiment, the Finance Minister, Nirmala Sitharaman, too announced a rollback of several measures that were announced in the budget speech in July 2019 including the much-maligned surcharge on foreign portfolio…
With India Inc facing an apparent slowdown and the automotive industry of India running haywire with declining sales, a breath of fresh air was recently injected into the system via Korean manufacturer Kia Motors. The news comes with just as much as surprise as it comes with skepticism, with both the industry and its end consumer still trying to assess how the move will play out…
Angel tax is an issue that has bothered the Indian start-up ecosystem since it first emerged in 2012. Introduced as a tool to tackle the circulation of black money in the economy, it has been instrumental in sabotaging the Indian startup ecosystem. According to an annual startup-cum-SME survey done by community-based social media platform LocalCircles, 38% start-ups received one or more…
In a paper published in April 2019, researchers at the Reserve Bank of India (RBI) found that more of Indian banking sector consolidation in the country’s struggling banking sector will help lenders lower costs and efficiently scale their operations. The same paper finds that India had 19 cost-efficient banks in 2005, falling to a low of 12 before recovering to 14 by the end of 2018. While banking…