Indian subsidiary of Denmark-based company hopes to ride auto industry’s trajectory
With India’s passenger vehicle sales touching a record high of 3.3 million units, auto component maker Meneta India is eyeing a growth of around 10 to 12 percent by 2019.
“At Meneta we produce mandatory parts and friction components for vehicles. The auto industry in FY19 is slated for an 8 to 10 percent growth in passenger vehicles and in cars by 8 to 9 percent in the domestic market. Riding this growth, we expect a company growth of around 12 percent next year,” said Sanjay Jain, CFO, Meneta India.
According to the Society of Indian Automobile Manufacturers (SIAM), commercial vehicles are pitted to continue their growth momentum at 10-12 percent, with medium and heavy commercial vehicles (M&HCVs) up by 9-11 percent and light commercial vehicles (LCVs) growing at 1012 percent.
Passenger vehicles sales in India witnessed a 7.89 percent growth in FY18, according to the data released by SIAM, domestic passenger vehicles (PV) sales were at 32,87,965 units, beating the previous best of 30,47,582 units posted in 2016-17.
Denne historien er fra June 2018-utgaven av Steel Insights.
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Denne historien er fra June 2018-utgaven av Steel Insights.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Steel's Net Zero mission
The country’s commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.
Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.
Seaborne coking coal offers remain range-bound
Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
Global crude steel output down 8% in September
China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.
MOIL embarks on expansion projects
“Even though our country is blessed with manganese ore reserves, we import 50% of the domestic requirement. We have to lower our import dependence and save precious foreign exchange.” Ram Chandra Prasad Singh, Steel Minister
Iron ore handled by major ports down 17% in H1
The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.
Shrinking China output to boost India exports
“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd
Indian Railways' iron-ore handling up 25% in H1
Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.
September crude steel production up 7.2% y-o-y
India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.
“Five enablers: way forward to sustainable cleaner steel”
Right and scalable technology, appropriate policy guidance by government, access to finance to fund transition, willingness of customers to pay for cleaner products and infrastructure for use of new technologies are the need of the hour for the sustainable and cleaner steel industry, according to Madhulika Sharma, Chief Corporate Sustainability, Tata Steel.
