Results for: India

South Korea’s Hyundai Motor Group, the parent of Hyundai and Kia brands, has announced plans to launch its first India-manufactured electric vehicles (EVs) by 2025. This move aims to strengthen its presence in the growing Indian EV market, currently dominated by Tata Motors. Hyundai’s EVs will be produced locally by the end of 2024, with Kia’s India-made EV also scheduled for launch in 2025. The Hyundai Motor Group plans to unveil five EV models by 2030. Both Hyundai and Kia will use batteries manufactured by Exide Energy Solutions to power their EVs. India represents a significant market for Hyundai outside of North America and Europe, where it is the second-largest carmaker. The company’s Indian subsidiary is gearing up for a $3 billion IPO, poised to be the country’s largest. Hyundai currently offers two electric models in India, the Kona and IONIQ 5, which are not domestically produced. Kia’s EV offering, the EV6, is imported. Hyundai has reaffirmed its goal of reaching annual production of 1 million units by 2025, with plans to expand Kia’s capacity from 300,000 to 432,000 units. The combined production capacity will grow to 1.5 million units. Earlier this year, Hyundai acquired a former Chevrolet plant in Maharashtra to bolster its production capabilities. These announcements were made during Hyundai Motor Group Executive Chair Euisun Chung’s visit to India, his second in less than a year.

Despite the Indian government’s efforts to attract electric vehicle (EV) manufacturers like Tesla, the company’s plans for entering the Indian market remain uncertain. Tesla has not conducted significant studies or held detailed discussions with state governments, indicating a lack of immediate intent to establish a manufacturing presence in the country. The automaker’s lack of communication with suppliers in India further suggests that it does not have an immediate plan for the Indian market. Tesla’s cautious approach contrasts with other automakers like VinFast, which has already begun constructing a battery and vehicle assembly plant in India. Tesla’s CEO, Elon Musk, has prioritized other commitments over a visit to India, adding to the uncertainty surrounding the company’s India plans. While Tesla’s global ecosystem partners suggest that establishing a manufacturing facility in India could take up to three years, the company’s current focus on optimizing production lines and its strategic shift toward AI and robotics may not align well with the current technological and regulatory landscape in India.

University of Massachusetts Global (UMass Global) has announced the launch of its UMass Global Online Master of Business Administration (MBA) program in India. This program stands out as the only US university offering an online MBA at an affordable price, with a focus on bridging the gap in the market. The 18-month program is designed to meet the aspirations of learners, focusing on career growth, leadership roles, and the acquisition of advanced skills. It offers live learning sessions, employer-aligned curriculum, and alumni status from UMass Global.

India can expect less severe food inflation in the future due to its modern supply chains and diversified sources, according to Ashima Goyal, a member of the RBI Monetary Policy Committee. These supply chains can quickly address sudden price spikes in specific food items. Stable agricultural prices are crucial for non-inflationary growth, and India should focus on increasing agricultural productivity. As India develops, the weight of food in household budgets will decrease, and food consumption will become more diversified, reducing the impact of future food price shocks.

The political head of Tibet’s government-in-exile, Penpa Tsering, has revealed that informal discussions are taking place with China. However, he emphasized that there are no immediate prospects of significant progress. Formal talks between representatives of the Dalai Lama and the Chinese government have been stalled since 2010 due to anti-China protests in Tibet and Beijing’s hardline approach. Tsering stressed that the current talks are exploratory and have no immediate expectations. Nevertheless, a senior Tibetan leader expressed hope that the informal discussions could lead to a broader dialogue to address the Tibetan situation. Tsering also appealed for increased support from India on the Tibetan issue, highlighting the growing influence of India in world affairs.

Puneet Chhatwal, the Managing Director and CEO of Indian Hotels Company Limited (IHCL), recently shared his insights on the current state and future prospects of India’s tourism sector. He highlighted the country’s unique strengths, such as its rich cultural heritage, diverse landscapes, and warm hospitality. He also discussed the challenges faced by the industry and suggested ways to overcome them.

India is seeking to establish diamond traceability centres to verify the origins of diamonds, protecting its diamond processing industry from potential restrictions by the Group of Seven (G7) nations. The G7 had proposed setting up traceability centres in Belgium to ensure no Russian diamonds are sold in member nations. India is concerned that this would make export costs prohibitive for Indian producers. India has proposed setting up centres in Surat or Mumbai, which are major diamond processing hubs, and is negotiating with the European Commission on the issue.

JioCinema, owned by billionaire Mukesh Ambani’s Reliance Industries, is offering new low-cost premium plans to become India’s leading streaming service. The platform will introduce a monthly plan of INR 29 (35 cents) for a single device and INR 89 ($1.05) for a family plan that covers four devices, replacing its existing INR 999 ($12) annual plan for international premium content. Despite these affordable plans, JioCinema’s sports content, including the popular Indian Premier League (IPL) cricket tournament, will remain free as an ad-supported service (AVOD). JioCinema’s premium tier will offer content from various sources, including Peacock, HBO, Paramount, Warner Bros. Discovery, and Viacom18’s own channels, Colors and Nickelodeon.

Ayesha Rashan, a 19-year-old Pakistani teenager, has received a new heart in Delhi, India, after struggling with heart disease for the past decade. After previous treatments in Pakistan and India proved ineffective, Ayesha’s family sought consultation at MGM Healthcare Hospital in Chennai. With the assistance of the Aishwaryam Trust for financial aid, Ayesha underwent a successful heart transplant surgery free of cost at MGM Healthcare. Ayesha’s mother expressed gratitude for the support and treatment received in India, acknowledging the country’s superior medical facilities compared to Pakistan.

The global economy faces uncertainty with conflicts and inflation, but countries can press the reset button to regain growth. India is faring well, with reforms and a digitally literate population driving progress. China is facing challenges, but can pivot to higher-value production and embrace new technologies. Artificial intelligence (AI) is transforming the job market, requiring upskilling and reskilling. The rise of AI and geopolitical tensions highlight the need for global cooperation and regulation. Rising debt levels pose a risk to developing countries, and Davos played a role in fostering dialogue despite a fragmented world. The transition to a sustainable future requires significant investment, with wealthier nations expected to contribute. Slowing global trade is a concern, but reinvented globalization can promote growth and prosperity.