FM announces change in definition, revises investment limit upwards, Auto News, ET Auto

&quotThere has been a long-pending demand for the revision&quot she Sitharaman.
“There has been a very long-pending demand for the revision” she Sitharaman.

New Delhi: Finance Minister Nirmala Sitharaman on Wednesday unveiled six distinct actions to revive the ailing and susceptible MSME sector of the country which are strike most difficult by lockdown. These mesaures are section of the mega economic stimulus of Rs twenty lakh crore announced by Prime Minister Narendra Mondi yesterday.

The the economic package deal, which is themed close to the ‘Self-reliant India campaign’, will aim on land, labour, liquidity, and guidelines to revive the economic system that has occur to a standstill because of to the

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Uber lays off 3,700 workers over 3-minute long Zoom calls, Auto News, ET Auto

Last week, Uber Technologies announced to lay off some 3,700 full-time employees, in a move to reduce operating expenses in response to the economic challenges and uncertainty resulting from the COVID-19 pandemic
Previous 7 days, Uber Systems announced to lay off some 3,700 total-time workers, in a shift to lessen operating charges in reaction to the financial difficulties and uncertainty resulting from the COVID-19 pandemic

San Francisco: Journey-hailing app Uber has laid off almost 3,700 workers or about fourteen per cent of its workforce through various Zoom phone calls and every single contact lasted fewer than a few-minutes, with a popular concept: “Today will be your very last operating day with Uber”.

Previous 7 days, Uber Systems announced to lay off some 3,700 total-time workers, in a shift to lessen operating charges

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Covid-19 times and the fading Indian carmakers?, Auto News, ET Auto

New Delhi: The tide of transform is happening. Indian automotive scene is having new dimensions with number of ones nimble and powerful very likely to survive the tide, while several unable to bear the transform would finally fade into oblivion.

The ongoing coronavirus pandemic is expediting this transform and the common expectation is that it will lead to severe contraction in the vehicle market place and those less than pressure would be all automakers providing significantly less or close a lakh passenger vehicles-a-calendar year in India.

Indian vehicle market place is on a constant decrease. As per the market trade

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Moody’s cuts 2020 global auto sales outlook by 20% on coronavirus hit, Auto News, ET Auto

Moody's expects healthy rebound in global auto sales in 2021 with growth of 11.5 percent.
Moody’s expects healthful rebound in world car income in 2021 with advancement of eleven.5 p.c.

New Delhi: Credit rating rating agency Moody’s Trader Company on Wednesday cut its 2020 outlook for world car income to 20 p.c as the world overall economy outlook worsens thanks to coronavirus concerns.

The agency claimed in this article it expects world car income to fall 20 p.c in 2020, extra than its former estimate of about 2.5 p.c fall.

Moody’s retained a “negative” outlook on the sector and claimed it expects healthful rebound in world income in 2021 with advancement of eleven.5 p.c.


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An anatomy of the Indian auto industry, Auto News, ET Auto

Circumstance at Hand

April 2020 was an unparalleled thirty day period in the record of the Indian automotive business. In no way before had it recorded a zero-creation and zero-profits thirty day period due to the fact vehicle manufacturing begun in the nation.

Assembly traces have now bit by bit begun rolling following about a thirty day period and fifty percent and dealerships have opened up in quite a few towns and cities. But there isn’t any permit up in uncertainties with concerns remaining about the source chain, availability of staff at the factories, funding bottlenecks and shopper sentiment, amid

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