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Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> on Tuesday asked the automotive industry to bring global best practices to <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, while also working on green and <keyword id="7340072" type="General" weightage="100" keywordseo="clean-mobility" source="Orion">clean mobility</keyword>. In a written address to the annual convention of the <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (SIAM), Modi said the automotive industry will drive even higher economic growth and in turn, thrive on demand growth. "As we shift gears towards our collective goal of a Viksit Bharat by 2047, I am confident that organisations like SIAM will continue to bring together all stakeholders and become a force multiplier in this mission," he said. The prime minister said the road ahead demands that the country's progress is rapid, while also being sustainable. "Working (on) greener and cleaner mobility is a vital step in this direction. It is important that this climate-conscious and sustainable vision resonates with domestic and international partners," he asserted. "Further, at this critical juncture for India and the world, it is essential that our automobile sector set not only an example for others to follow, but also work towards bringing global best practices to India. I am confident that the discussions and deliberations during the Annual Convention will serve as a catalyst for this," he added. He further said, "Through innovation and enterprise, I am sure that the automotive industry will drive even higher economic growth and in turn, thrive on the demand growth that inevitably creates." He said over the last decade, India's automotive sector has witnessed tremendous and unprecedented growth. "This is as much a testament to our nation's expanding economic growth, as it is to the pivotal role played by the automotive industry," Modi said. The success story of Indian mobility is noteworthy. The nation is witnessing the creation of future-ready infrastructure, such as state-of-the-art expressways, high-speed railways and other forms of multi-modal connectivity that reaches every corner, the prime minister noted. "The holistic approach is ensuring that the benefits of growth are not just confined to a few, but shared by all," Modi said.

PM Modi asks automakers to bring global best practices to India, focus on clean mobility

India’s electric vehicle (EV) sector, often seen as a key player in the country’s clean energy transition, has been called “irrelevant” without government <keyword id="20231384" type="General" weightage="20" keywordseo="incentives" source="keywords">incentives</keyword> by a recent Bernstein research report. The report highlights the serious challenges automakers face in achieving profitability and scaling operations in the EV segment, which remains heavily reliant on financial support from the government. <h2>Struggling to achieve profitability</h2>The Bernstein report reveals that generating profitable margins in the Indian EV sector is proving to be an uphill battle for automakers. “It is tough to generate sufficient margins and get scale in EVs. Even with hefty incentives, incumbent OEMs are still unprofitable,” the report stated. This underscores the fact that even with <keyword id="20022183" type="General" weightage="20" keywordseo="government-subsidies" source="keywords">government subsidies</keyword> aimed at promoting <keyword id="20138204" type="General" weightage="20" keywordseo="electric-mobility" source="keywords">electric mobility</keyword>, automakers are struggling to make EVs financially viable. High production costs, limited infrastructure, and relatively low consumer demand all contribute to this issue. Traditional automakers, particularly in India’s two-wheeler market, are facing significant financial losses. According to Bernstein, while some niche startups may survive, their long-term market share will likely remain limited, and competition will primarily be between established original equipment manufacturers (OEMs). The key challenge for these OEMs is achieving the scale and cost reductions required to compete with the well-entrenched internal combustion engine (ICE) sector. <h2>Reliance on incentives</h2>One of the most striking conclusions from Bernstein’s analysis is the deep reliance of the EV sector on government subsidies. Without these incentives, the <keyword id="19952060" type="General" weightage="100" keywordseo="EV-Industry" source="keywords">EV industry</keyword> would be unable to compete with traditional ICE vehicles. “The EV Industry is not relevant without incentives currently, and to break the ICE sector, it needs intense focus, scale, and continued cost downs,” the report emphasised. This indicates that while government schemes like GST benefits have helped reduce the cost difference between EVs and ICE vehicles, they are not enough to ensure the long-term sustainability of the EV sector. Bernstein estimates that the overall EV two-wheeler industry in India generates around USD 1.3 billion in annual revenues, but without government support, the sector incurs an EBIT loss of approximately USD 300-400 million. The high cost structure of EVs, combined with the relatively low sales volumes, makes it difficult for companies to operate without subsidies. <h2>Established players face mixed fortunes</h2>Among India’s leading two-wheeler manufacturers, Bernstein noted that <keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="265" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> and <keyword id="20326963" type="General" weightage="20" keywordseo="TVS-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motors" meta.hostid="265" meta.entityid="TVS Motors">TVS Motors</keyword> are on a similar footing in terms of their performance in the EV space. Bajaj Auto received an "Outperform" rating from Bernstein due to its lower valuations, while TVS Motors was rated "Market Perform" after it was found to be losing approximately 7.5% in EBITDA, or Rs 11,000 per vehicle, despite generating a gross profit margin of 7% without subsidies. <div type="Article" hostid="261" msid="113631992" title="Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh" mstype="2" mssubtype="0"></div>Hero MotoCorp, a major player in India’s automotive market, lags behind both Bajaj and TVS in terms of its EV offerings. Bernstein also pointed out that Eicher Motors, which is expected to launch its own <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> soon, is likely to remain “sub-scale and less relevant” in the competitive EV landscape. Interestingly, <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="265" meta.entityid="Ola Electric">Ola Electric</keyword> (Ola-E) stands out as a startup that has been able to generate positive operating earnings (EBITDA) from its premium models like the S1 Pro and S1 Air, even as it incurs losses on its mass-market model, the S1X. “Our analysis indicates that Ola-E is generating positive operating EBITDA from its premium models, such as the S1 Pro and S1 Air while incurring a loss on its mass-market model, the S1X,” the report said. While Ola has shown some promise, it too remains heavily dependent on subsidies to maintain its financial health. <h2>Long-term outlook</h2>Bernstein’s report paints a challenging picture for the future of India’s EV sector, suggesting that while dominant startups may survive, the majority of the competition will come from traditional automakers. However, without significant scale and continued cost reductions, the EV industry will struggle to become self-sustaining. <div type="Article" hostid="261" msid="113315022" title="Waiting for the festive season to buy an EV? Cabinet approves PM E-Drive subsidising most EVs, sans electric cars" mstype="2" mssubtype="0"></div>Bernstein emphasised that to truly compete with ICE vehicles, the EV sector needs to focus on scaling up operations, reducing costs, and maintaining long-term commitment. Until these conditions are met, India’s EV industry will remain highly dependent on government support and may continue to face an uphill battle for relevance. In conclusion, while India’s EV sector is seen as a vital part of the country’s clean energy future, Bernstein’s analysis highlights that it is far from being self-reliant. The industry’s heavy dependence on government incentives raises questions about its long-term sustainability and relevance, particularly in the face of ongoing challenges with profitability and scale. (With inputs from ANI)

Why has Bernstein called India’s EV sector 'irrelevant'?

A sixth-grade social science textbook that I read described India as a piece of fabric, with countless threads coloured in a myriad of majestic shades, woven together. This metaphor holds exceptionally well when put into the context of our <keyword id="22706215" type="General" weightage="20" keywordseo="handloom-industry" source="keywords">handloom industry</keyword>. India has a rich history of handlooms and weaving cultures. The culture of handlooms is so intricately woven into Indian culture, that there are whole towns dedicated to the same: <keyword id="248532" type="General" weightage="20" keywordseo="Chanderi" source="Orion">Chanderi</keyword> in Madhya Pradesh to Pochampally in Telangana and a dozen more! Unfortunately, the handloom industry in India is dying. The struggle is multi-faceted, ranging from a declining workforce to fierce competition from <keyword id="20496028" type="General" weightage="20" keywordseo="power-looms" source="keywords">power looms</keyword>. Hence, five years ago, August 7 was proclaimed <keyword id="22677698" type="General" weightage="20" keywordseo="National-Handloom-Day" source="keywords">National Handloom Day</keyword> in response to this crisis and to heighten public awareness. This date holds special historical significance, commemorating the initiation of the Swadeshi Movement in 1905—a pivotal act of defiance against British colonial rule. <h2>When did this industry come into existence?</h2>According to archaeological findings, the origins of handloom in the Indian subcontinent may be traced back to the Indus Valley Civilization. The Mughal Empire was known to support and patronise <keyword id="20258864" type="General" weightage="20" keywordseo="weavers" source="keywords">weavers</keyword>. The support from the royal patrons resulted in the invention of new textiles such as ‘Mulmul’ and ‘Banarasi Brocade’ among others. This era witnessed a heightened worldwide demand for Indian textiles. In the 17th century, India produced 25% of the world’s textiles, with Bengal accounting for more than 50% of textiles and 80% of silks imported by the Dutch from Asia. <h2>What led to the decline of the <keyword id="19934660" type="General" weightage="100" keywordseo="Indian-handloom" source="keywords">Indian handloom</keyword>?</h2>The East India Company's entry fuelled the industry's initial decline, which started in the 1830s. The weavers were obliged to sell only to the British, and that too at exceedingly cheap prices, virtually putting them out of business. On the other hand, Indian cloth was taxed excessively to promote machine-made British clothing. The Industrial Revolution in Britain strengthened their indigenous textile industry, giving rise to new markets for cheaper textiles. In India, the collapse of the Mughal aristocracies meant no access to royal patronage. As a result, textiles like Khadi and muslin had little demand in the market. Circling back to the present, the industry is facing both similar and new challenges. Fabrics made on power looms are cheaper and faster to produce, in comparison to handloom fabrics. The industry is largely unorganised, and the wages are shockingly low. 67% of <keyword id="22706216" type="General" weightage="20" keywordseo="handloom-workers" source="keywords">handloom workers</keyword> are earning less than the minimum wage every month. Faced with economic challenges, the older artisans are thus forced to encourage the newer generation to choose an alternative career path. This migration of the workforce from a traditional sector is evident from the fall in the number of weavers less than 35 years of age- from 26.13 lakh in 2009-10 to 16.07 lakh in 2019-20. The majority of weavers do not have access to banking facilities, let alone institutional credit. Furthermore, if one manages to accumulate credit, there is a mismatch between the supply and demand forces due to the lack of awareness about handwoven textiles in the current generation. <h2>Initiatives for revival</h2>The cultural significance of the Indian handloom isn’t just limited to its beauty and extravagance, but it extends to our independence struggle as well. The Swadeshi movement immortalised the charkha and advocated for the use of indigenous goods. Following independence, the Indian government took many measures to revive the handloom industry. In 1953, India’s Parliament approved the Khadi and Other Handloom Industries Development Act. In 1955, the All India Handloom Fabrics Marketing Cooperative Society was formed to promote the sale of fabrics produced by handloom cooperatives across India. The National Handloom Development Programme (NHDP) aimed to provide financial assistance for marketing and production. The Handloom Weavers’ Comprehensive Welfare Scheme offers health and life insurance to weavers, to ensure social security. The organisation commenced a fortnight-long exhibition, “VIRAASAT” dedicated to celebrating the 10th National Handloom Day began at Handloom Haat in Janpath, New Delhi on Saturday, 3rd August 2024, and will conclude on 16th August 2024. The Handloom Mark scheme was introduced to authenticate handloom products, thus enabling weavers to gain better market access and ensuring that consumers get genuine products. Moreover, the India Trade Portal also mentions that the GOI plans to provide financial assistance of Rs. 30 crore to at least 10,000 handlooms. Various state governments also regularly conduct handloom expos and fairs, providing platforms for weavers to showcase and sell their products directly to consumers. <h2>Contemporary Brands and their love for Indian handloom</h2>Modern, popular designers such as <keyword id="8264" type="General" weightage="20" keywordseo="Sabyasachi" source="Orion">Sabyasachi</keyword> and <keyword id="21493890" type="General" weightage="20" keywordseo="ritu-kumar" source="keywords">Ritu Kumar</keyword> are known to work closely with weavers and have been doing their part by bringing worldwide attention to the handloom industries. Recently, <keyword id="1472101" type="General" weightage="20" keywordseo="Ajrakh" source="Orion">Ajrakh</keyword> was brought into the limelight when Alia Bhatt wore a custom Abu Jani Sandeep Khosla Ajrakh saree to Joy Awards in Riyadh. However, it’s not just the fashion moguls who are working towards the revival of this industry. Contemporary indie brands are partnering with local weavers, and creating awareness about their work. The emergence of such indie brands and their association with local artisans is beneficial for both entities. For instance, Joskai Studio derives its name from ‘Joskai’, a woven piece of cloth worn as a part of the traditional costume of the Tiwa community of Assam. They work with artisans in northeast India, specifically from the weaving village of Saualkuchi in Assam. Rouka by Sreejith Jeevan is a Kerala-based brand that works strictly with weavers from Kerala, specifically Chendamangalam and Kuthampally. <h2>Employment and Exports</h2>According to the Indian Trade Portal, the Indian handloom sector is the country’s second-largest employer after agriculture in rural areas. The Handloom Census 2019-20 mentions that the industry employs about 35,22,512 workers across the country, with women forming 77.29% of the workforce. India is the second largest exporter of handloom products in the world, with exports valued at $ 353.9 million in 2017- 18, as per EXIM bank's working papers. The major handloom export centres are Karur, Panipat, Varanasi and Kannur where handloom products like bed linen, table linen, toilet linen, floor coverings, and embroidered textile materials and curtains etc. are produced for export markets. During April 2021-February 2022, India exported handloom products worth 1693 crore, as per Indian Trade Portal. Indian silk scarves also form a sizable chunk of total handloom exports, in addition to home textiles like carpets, rugs and mats, which constitute over 13.6% of India’s total handloom exports. <h2>The Path Forward</h2>The mere existence of organisations and allocation of funds isn’t enough to sustain the legacy of India’s rich handloom industry. Big corporations working with local weavers ensure employment but don't protect them from exploitation and meagre wages, leaving them vulnerable. The people in power ought to come up with strategies that ensure the trickle-down effect of the schemes and funds. The new generation of buyers has a greater purchasing power than the one before them. Marketing focused on bringing Indian handloom practices into the limelight can do wonders in this case.

Fabric of a nation: Sustaining India's handloom legacy in modern times

<ul><li>Indians embrace the ‘clean beauty’ trend with natural, organic, green, and allergen-free ingredients.</li><li>Japanese products emphasize preventive measures instead of fixing damage.</li><li>Japanese skin and hair care products claim to be simple and require minimal effort to use. </li></ul>K-pop and K-dramas have ushered in a new trend of K-beauty regimens, which have picked up across India too over the last decade. But it’s not the only Asian beauty trend that’s making inroads in this fast-growing market. Japanese beauty companies are also making a beeline for the Indian market to cash in on the ‘natural ingredient’ trend. Late last year, one of Japan’s largest cosmetics companies <keyword id="19951131" type="General" weightage="20" keywordseo="shiseido" source="keywords">Shiseido</keyword> partnered with <keyword id="19919253" type="General" weightage="20" keywordseo="shoppers-stop" source="keywords">Shoppers Stop</keyword> to launch its NARS brand in India. Not only has it plans to open 14 stores in Mumbai and Delhi, but it’s also marketing the brand via <keyword id="19955203" type="General" weightage="20" keywordseo="sephora" source="keywords">Sephora</keyword> stores. And there are more to come, says a report by <keyword id="20604035" type="General" weightage="20" keywordseo="global-data" source="keywords">Global Data</keyword>. With India’s health and beauty market projected to grow at 5-6% between 2022-27, they aim to make a significant impact, the data and analytics firm adds. J is the new K of beauty It’s not that there are no similarities between J-beauty and K-beauty. They share the same DNA of being rooted in R&amp;D, and Japanese brands also introduced revolutionary products like oil cleansers. “While K-beauty relies on eye-catching product assertions, trendy ingredients, unconventional packaging, and quick results, J-beauty emphasizes efficiency, enduring effects of formulations, and refined packaging akin to Western beauty goods,” explains Mani Bhushan <keyword id="19906945" type="General" weightage="20" keywordseo="shukla" source="keywords">Shukla</keyword>, consumer analyst at GlobalData. In general, beauty regimens are picking up fast as Indians focus on self-care. Adding to that, social media and rapid urbanization are making them pay more attention to personal appearance. Not only are Indians keen on new-age beauty trends, but they also seek brands that are ethical, sustainable, and safe. Moreover, consumers now pay a lot more attention to ingredients that go into beauty products. And Japanese cosmetics can rank higher in this regard, opines Global Data. They aid the ‘clean beauty’ trend, which encompasses product claims like natural, organic, green, and allergen-free. Japanese beauty products place importance on preventive measures instead of fixing damage. “Recognizing the increasing demand for natural and organic products in India, J-beauty manufacturers have rolled out new formulations to meet the preferences of the discerning consumer base, including ageing individuals,” adds Shukla. What’s the next trend? Indian consumers are constantly hunting for the next big beauty trend. As per GlobalData’s Q4 2023 consumer survey, 74% of female consumers are consistently or frequently influenced by the uniqueness and enjoyability of a product or service when making health and beauty purchases. If easy to use and less cumbersomeness picks up as the next trendsetter, Japanese companies could have an upper hand. Japanese skin and hair care products claim to be simple and require minimal effort to apply and use. “Although both K-beauty and J-beauty incorporate multi-step routines into their skincare regimens, they differ in complexity. J-beauty sets itself apart from the former by embracing a more streamlined approach with fewer products, resembling Western beauty regimens,” says Shukla. As per GlobalData’s survey, 66% of female consumers in India said that their choice of a beauty product is influenced by how well it aligns with their time and money constraints.

Move over K-beauty, Japanese brands are here to take over India’s clean B-trend

The brains behind India’s burgeoning beauty industry

<div type="image" title="Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment" msid="115018213" hostid="261" caption="&amp;lt;p&amp;gt;Indians are getting fancy, and they don&amp;#39;t mind paying a little extra if it means quality and luxury. Most consumer brands are witnessing an uptick in their premium product segment&amp;lt;/p&amp;gt;"></div> It's time to move over from plain, vanilla budget basics! Indians are no longer looking for “best purchases and value buys under Rs 1,000”—at least not as much as before. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s getting fancy, and how! From gold-flaked chocolates to swanky SUVs that look like they’re wheeled straight out of a Bollywood blockbuster, Indian companies are rapidly jazzing up their product lines, even faster than you can say the word "premiumization." But what does this mean for Indian companies and consumers? What is this jazz about premiumization all about? Is it just urban India that’s riding this wave, or has rural India also joined the bandwagon? We decode for you. <h2>What's premium, really?</h2>Imagine you’re eating Pav Bhaji at a roadside thela. Later during the day, you decide to dine out at a fancy, upmarket cafe, only to find Pav Bhaji Fondue on the menu. Same same, but much more expensive—often 5 to 10 times higher—for a little more hygiene and some better ambience! Think of premium products as this fondue. They are a notch up your regular, daily-use products soaps or shampoos, and even cars, all packaged luxuriously, offering just about the right touch of quality. The main differentiator, though, would be the price range. <h2>Driving home premium wellness</h2>A recent report by Nielsen suggests that over 70% of urban Indians are okay with paying a premium for their products. And companies are cashing in on this sentiment like never before. This explains why 58% of new products launched so far this year have been in the premium+ segment, as opposed to just 38% of new launches in regular, traditional trade. Take cars, for instance. Indians are no longer vying for a good old <keyword id="19950117" type="General" weightage="20" keywordseo="maruti" source="keywords">Maruti</keyword> 800 or <keyword id="20400567" type="General" weightage="20" keywordseo="alto" source="keywords">Alto</keyword>, traditionally known for their healthy mileage, but are rather happy investing in more swanky features that come along with high-end cars. In October 2024, India’s largest car manufacturer, <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword>, sold 65,948 units of its compact cars like Swift, WagonR, Dzire, and more. Compared to the year-ago period, which saw sales of 80,662 units, this was an 18% dip. But take a look at their SUV (sport utility vehicle) sales for the same period. Cars like Brezza, Ertiga, and Grand Vitara sold about 70,644 units, a 19% uptick from the sales made in October 2023, i.e. 59,147 units. Simply put, when it comes to cars, Indians are saying the bigger, the better! The same is true for India's second biggest automobile manufacturer, Hyundai. Its SUV lineup made up a staggering 68.2% of the firm's total sales made for October 2024. What's more, SUV demand remained largely consistent across urban and rural markets. <h2>Consumers are inching up</h2>FMCG (fast-moving consumer goods) are also riding the premiumization wave, with Indians prioritizing their health and wellness and not bothered about dishing out a few extra bucks for the same! You’ll find no dearth of words like organic, vegan, gluten-free, and sugar-free, peppered generously over every product you’ll see today, be it soaps, juices, or more. No wonder then, sales from premium segments in 2024 make up around 27% of all FMCG sales and even contribute a massive 42% to the sector’s value growth in India. Nielsen report further adds that luxury brands that position themselves at twice the price of their category’s average are even witnessing stellar growth. In fact, for most FMCG brands like Tata Consumer Products, <keyword id="20002610" type="General" weightage="20" keywordseo="hindustan-unilever" source="keywords">Hindustan Unilever</keyword> (HUL), Dabur, and Nestle, it is this premium segment that is growing much faster than their regular ones. And it's not just about daily-use products; Indians are also taking their celebrations a step over. Spirits manufacturer <keyword id="20125704" type="General" weightage="20" keywordseo="radico-khaitan" source="keywords">Radico Khaitan</keyword> highlighted that for the first half of 2024, their prestige &amp; above segment made for 88.4% of its net sales value. In the same period, the regular popular segment accounted for just 9.1% of their net sales. From Hindustan Unilever, which saw its premium products grow 30% over the last quarter, to <keyword id="20521971" type="General" weightage="20" keywordseo="kingfisher" source="keywords">Kingfisher</keyword> beer's parent company, <keyword id="20124009" type="General" weightage="20" keywordseo="united-breweries" source="keywords">United Breweries</keyword>, whose premium product sales volume jumped by 27% during the quarter as opposed to just a 5% rise in overall volumes, everyone is seemingly taking their lifestyle a notch above. Per the Nielsen report, in 2024, a typical global consumer spends about $13.7k per year. This is set to grow by around 2.4% to $14k as early as next year. Even a report by Goldman Sachs also highlighted a similar trend, noting that India’s affluent class, or those earning over $10,000 (Rs 8,42,694.97), is set to reach 100 million in the next 3 years. And where will this consumer spend? On premium products! <h2>Online shopping shifts from mass to class</h2>Amazon’s Great Indian Shopping Festival, which was live between September 27 and October 29 this year, saw 140 crore customers, more than 85% of whom came from non-metro Indian cities. On the site, there was a 400% spike in sales in premium sales across categories like watches, fragrances, handbags, jewelry, and more. Rival <keyword id="19896939" type="General" weightage="20" keywordseo="flipkart" source="keywords">Flipkart</keyword> noted a similar trend, recording 1.8x growth in premium beauty and personal care products during the first half of this year. <h2>Dialing in premiumness</h2>The Indian smartphone ecosystem has always been dominated by basic phones, or those entry- and mid-range phones that are priced between Rs 10,000 and Rs 6,000. But that has changed in recent times, with premium smartphones (i.e., those priced over Rs 60,000) registering 20%+ growth in 2024. During the first quarter of this year, sales of mass phones (priced between Rs 10,000 and 20,000) reached 44%, compared to 51% in the year-ago period. But it's all sunny and shiny in the mid-premium (priced between Rs 40,000 and Rs 60,000) and super-premium segments (priced above Rs 60,000). Sales growth has burgeoned by as much as 27% and 86% in these categories, respectively. As India continues its march toward becoming the world's third-largest economy by 2027, the premium party is just getting started. Industry experts predict that premium segments will grow faster than you can say "sustainable organic handcrafted artisanal batch of coffee." So the next time you see someone dropping serious rupees on a fancy bottle of black water that also somehow plays music and tracks their hydration (yes, that's a thing), remember: This is just the trailer. Picture abhi baaki hai, mere dost! Do you have a topic in mind you'd want a simpler explanation for, or insights or experiences to share on personal finance and more? Contact us at businessinsider@timesinternet.in.

Simply Put: From Dal to Dolce—India is loving its luxury life

Amid the ongoing impasse over <keyword id="22586111" type="General" weightage="20" keywordseo="technicians-body" source="Orion">technicians' body</keyword> refusal to work under a particular director for a project, no shooting took place on Monday in any film studio in Kolkata and surrounding areas as directors of <keyword id="117312" type="General" weightage="100" keywordseo="Bengali-film-industry" source="Orion">Bengali film industry</keyword> decided to go for an indefinite <keyword id="66308" type="General" weightage="20" keywordseo="cease-work" source="Orion">cease work</keyword> from July 29 in solidarity with the young filmmaker. "There has been no shooting in all the 11 studios of any sort since this morning," a spokesperson of the <keyword id="22586110" type="General" weightage="20" keywordseo="Directors-Guild" source="keywords" meta.keywordsubtype="org" meta.entityname="Directors' Guild" meta.hostid="83" meta.entityid="Directors' Guild">Directors' Guild</keyword> said. The technicians' body is also slated to meet later on Monday on their boycott. While producers also came forward in support of directors' demand. Directors Association of Eastern India in a statement on Sunday night said: "In deference to the wishes and sentiments of majority of directors, the association has decided to go for indefinite cease work on shooting floors from Monday (July 29) till the problem faced by directors are addressed in an amicable and proper manner." In a facebook post titled #directorsinsolidarity, prominent filmmakers including Aparna Sen, Kaushik Ganguly, Srijit Mukherjee, Arindam Sil, Indrasis Acharya, Indradip Dasgupta, Kamaleswar Mukherjee, Atanu Ghosh and others said despite the Directors Guild allowing Rahool Mukherjee to helm the shooting of the untitled film (by SVF), the first-day shoot could not take place on July 27 at a city studio as the technicians stayed away. "This was extremely humiliating for directors and actors present at the shooting floor. As demanded by many directors after this development we suggest until the technicians under the federation agree to take part in the shoot accepting Rahool Mukherjee as director, till then we will be forced to go for non-cooperation," the statement said. The directors further asserted federation cannot impose its will in an arbitrary manner without seeking any acceptable solution. "The way technicians of the federation have been forced to non-cooperate with Rahool Mukherjee is ominous for the entertainment industry and insulting for every single director, the statement said. Arindam Sil said: "The ceasework will be only applicable for <keyword id="20256794" type="General" weightage="20" keywordseo="Bengali-film" source="keywords">Bengali film</keyword>, serial and web series shoots." Voicing apprehension that the boycott of the director by technicians and protests by other directors may snowball into a major crisis affecting shoots of films, serials, web series in Bengali film industry, West Bengal Motion Pictures Artists Forum president and veteran actor Ranjit Mallick and secretary Santilal Mukherjee on Sunday requested all sides to sit for talks immediately and thrash out the differences. "Any disruption of shooting will affect actors, directors, technicians, producers - every stakeholder in the industry - which will do no good... We therefore call upon every side to sit for talks for the interest of industry and iron out differences. If required the artist's forum can mediate to resolve the issue. Let's not allow the situation to snowball into a major crisis that will only affect everyone in the industry as well as the audiences," the forum earlier said. The forum is the apex body of actors in the entertainment industry in Bengal. On July 27, despite the clean chit given to filmmaker Rahool Mukherjee by the Directors' Guild allowing him to work as creative producer in an upcoming film, no technician turned up at a Kolkata studio on the first day of shooting. Federation of Cine Technicians and Workers of Eastern India (FCTWEI) president Swarup Biswas said Mukherjee was being debarred from directing films for three months for violating norms by visiting Bangladesh for shooting another movie without intimation to the federation and taking the help of technicians in Dhaka. Biswas told reporters that while it had been amicably decided earlier that Rahool Mukherjee would be the creative producer of the film to be shot from July 27, the call sheet given to them for the shoot still referred to Rahool Mukherjee as the director and he was seen taking every initiative during the shoot. "This was seen as violating the spirit of our agreement and we technicians don't want to work under the instruction of Mukherjee who had not taken any technician from Kolkata to complete 10 days of shooting of an OTT film 'Lohu' in Bangladesh earlier this year," Biswas said. "Mukherjee himself had admitted his mistake at the first meeting with the federation and guild earlier in July but now retracting." The untitled film produced by SVF mired in uncertainty starred Prosenjit Chatterjee, Anirban Bhattacharya and Priyanka Sarkar. SVF which was behind the project had stated that Soumik Haldar would now direct the film while Rahool Mukherjee would be the creative producer. However, most directors in solidarity with Rahool Mukherjee now demanded that he should not be replaced.

Film shooting stops in Kolkata studios as Bengali film industry calls for cease work

Industry players on Monday hailed the government's move to enhance the scheme outlay of Faster Adoption and Manufacturing of Electric Vehicles (<keyword id="19912965" type="General" weightage="20" keywordseo="fame" source="keywords">FAME</keyword>) <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> <keyword id="20527557" type="General" weightage="20" keywordseo="phase-ii" source="keywords">Phase II</keyword>, saying it will enhance infrastructure, foster widespread adoption and longevity of electric vehicles across the country. The Ministry of Heavy Industries announced that the scheme outlay of FAME India Phase II has been enhanced from Rs 10,000 crore to Rs 11,500 crore under FAME India scheme Phase II in order to give a further push to clean mobility in the country. The ministry also said that it is a "fund and term limited scheme", which means that the subsidies for demand incentive will be eligible for e-two-wheelers, e-three-wheelers, and e-four-wheelers sold till March 31, 2024 or till the time the funds are available, whichever is earlier. "We applaud the government's decision to enhance the FAME India Scheme Phase II outlay to Rs 11,500 crore. This timely boost in investment is a shot in the arm for the EV industry, accelerating its growth trajectory and paving the way for a cleaner, more sustainable future," VG Anil, CEO of EV battery manufacturer Arenq. The main objective of the scheme is to encourage faster adoption of electric and hybrid vehicles by way of offering upfront incentives on purchase of EV and also by establishing a necessary charging infrastructure for electric vehicles. "This Rs 1,500 crore boost sends a clear message: India is serious about electrifying its mobility landscape. Lower upfront costs for EVs, coupled with enhanced charging infrastructure, will incentivize riders to choose eco-friendly travel, accelerating the transition to a zero-emission future," Mayank Bindal, Founder and CEO, <keyword id="20078292" type="General" weightage="20" keywordseo="snap-e-cabs" source="keywords">Snap E Cabs</keyword>, told IANS. The number of EV charging stations that are operating in the country has gone up to 12,146 (as of February 2 this year), according to the government data. "The extension of FAME II until the end of March with a substantial outlay of 1,500 crore is a positive move," said <keyword id="20300065" type="General" weightage="20" keywordseo="avinash-sharma" source="keywords">Avinash Sharma</keyword>, Co-Founder of ElectricPe. "This not only strengthens consumer-side subsidies but also enhances infrastructure, fostering widespread adoption and longevity of electric vehicles across the country," Sharma added. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/wd-black-sn850x-ssd-review/articleshow/107557627.cms">WD Black SN850X SSD review – a reliable gaming SSD</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-review/articleshow/106961567.cms">OnePlus Open review – Feature-packed foldable in a premium design</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-review-top-end-camera-centric-smartphone-with-sleek-design/articleshow/106539033.cms">Vivo X100 review – Top-end camera centric smartphone with sleek design</a>

Industry hails extension of FAME II scheme to bolster EV infra

<ul class="summary-list"><li>Trump is sparking steep losses in areas of the market he's targeted, a group of researchers said.</li><li>Researchers pointed to Trump's many "tantrums" against certain companies and sectors, which sparked sell-offs.</li></ul>The market is in the midst of another "Trump Dump," a phenomenon where stocks see deep losses when the presidential hopeful targets them, according a group of researchers.In an <a target="_blank" class="" href="https://fortune.com/2024/07/30/trump-dump-stocks-targets-crashing-markets-finance-politics">op-ed for Fortune</a>, Jeffrey Sonnenfeld, Whitney Tilson, and Steven Tian — three researchers who examined Trump's effects on the US stock market — pointed to Trump's many "tantrums" over the years against specific companies and sectors, which later caused those areas to perform poorly.The former president, for instance, just sparked a <a target="_blank" class="" href="https://www.businessinsider.com/chip-stocks-slump-nvidia-china-trade-tsmc-amd-asml-2024-7#:~:text=One%20of%20the%20buzziest%20sectors,writes%20Business%20Insider's%20Kelly%20Cloonan.">steep sell-off in the chip sector</a> after he told Bloomberg that Taiwan <a target="_blank" href="https://www.businessinsider.com/donald-trump-taiwan-took-chip-business-pay-us-protection-manufacturing-2024-7">took the US's chip business away</a>, and should pay for US military protection.Chip stocks almost immediately slumped, with Taiwan Semiconductor now down 17% from levels in mid-July. A broader sell-off also took place in tech, with the Nasdaq Composite dropping around 10% in the days following Trump's interview.Trump has also regularly <a target="_blank" class="" href="https://www.businessinsider.com/biden-trump-climate-policies-ev-subsidies-renewables-fossil-fuel-drilling-2024-7">criticized renewable energy</a> companies, which could be influencing those sectors to perform poorly as well, the researchers suggested. Clean energy firms are in the midst of a stock rout, with the <a target="_blank" href="https://markets.businessinsider.com/etfs/ishares-global-clean-energy-etf-us4642882249">iShares Global Clean Energy ETF</a> down 10% from levels at the start of the year.Trump's chaotic effect on stocks isn't new. He swayed markets in his first run as president, the researchers noted, such as when Harley-Davidson shares dropped over 10% after the former president said the motorcycle manufacturer would be "<a target="_blank" href="https://twitter.com/realDonaldTrump/status/1011584315040419840?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1011584315040419840%7Ctwgr%5Efa424602a900872e342117b46c95a45132f8e779%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fwww.cnn.com%2F2018%2F06%2F25%2Fpolitics%2Ftrump-harley-davidson%2Findex.html">taxed like never before</a>" in a post on X.Delta Airlines also fell 10% within Trump's first month as president, after he implied the airline was to blame for "<a target="_blank" class="" href="https://x.com/realDonaldTrump/status/826041397232943104?ref_src=twsrc%5Etfw">big problems</a>" at the airport.In general, the S&amp;P 500 tended to sink on days when Trump posted something using the words "tariff," "Fed, " or "Powell," a 2019 <a target="_blank" class="" href="https://www.barrons.com/articles/donald-trump-twitter-stock-market-51567803655">Barron's analysis</a> found."Former President Donald Trump has long regarded the stock market as a barometer for his success, constantly touting record highs during his time in office and still bragging constantly about the 'beautiful' stock market on his watch," the researchers wrote for Fortune.They continued: "However, what many commentators miss is not just the 40 record highs the stock market has hit under the Biden-Harris administration—but also that while Trump does hold significant sway over pockets of the stock market, much of his impact is profoundly negative, particularly for individual companies and industries that draw his ire."Backers of the 2024 presidential candidate argue for the existence of the "<a target="_blank" href="https://www.businessinsider.com/the-trump-trade-stock-market-bonds-commodities-tariffs-fed-2024-7">Trump trade</a>," a general idea that Trump's victory in the upcoming election could spark gains for sectors like real estate, traditional energy, financials, and industrials.But gains in those areas of the market appear mostly temporary mostly reversing themselves several weeks after the first presidential debate, the researchers noted."As bad as turbulence has been, a second Trump term promises to be even more perilous for the stock market," they added, pointing to the potential consequences of <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariff-income-tax-proposal-stagflation-yellen-summers-trade-war-2024-6">Trump's economic policies</a>.Other economists have criticized Trump's economic agenda. His policies, which include raising <a target="_blank" class="" href="https://www.businessinsider.com/trump-trade-war-china-tariffs-taxes-us-economy-deficit-impact-2024-5">tariffs on Chinese imports</a>, could be inflationary, raise unemployment, and slow economic growth, Nobel economist <a target="_blank" class="" href="https://www.businessinsider.com/trump-presidency-policies-inflation-economy-americans-joseph-stiglitz-letter-2024-6">Joseph Stiglitz</a> previously told Business Insider.

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Film shooting stops in Kolkata studios as Bengali film industry calls for cease work

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Industry hails extension of FAME II scheme to bolster EV infra

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The 'Trump dump': The presidential hopeful causes deep stock losses in companies and industries he targets, researchers say

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