As a large number of Indian OEMs join the fray to tackle the Covid-19 outbreak, Praj Industries has developed unique process technology in its government approved (Dept. of Scientific and Industrial Research, GOI) state-of-the-art research centre that helps formulate alcohol into high quality sanitisers. Following the guidelines issued by the World Health Organization and Ministry of Health, the sanitiser market is experiencing exponential demand and has created a huge requirement of...

Even as crude oil prices have collapsed to their lowest levels since 2002 and motorists in India have yet to benefit from much-lowered prices, there is hectic activity on the alternate fuel front in India. In end-February this year, the fuel retailers associations' leadership from across the States and Union Territories of India met for a brainstorming session in the verdant hill station Kodaikanal in Tamil Nadu. The retail association members deliberated on the emergence of newer forms of...

India’s two-wheeler industry (2W) is likely to witness another year of demand contraction with unit sales likely to decline between 11-13% to around 18 million units in FY2021 following the adverse impact of the Covid-19 outbreak on economic growth and discretionary spending. As per an ICRA industry report, the extent of the slowdown remains contingent on the severity of the coronavirus outbreak and thus continuation of lockdowns. Even prior to the outbreak, the demand for two-wheelers was...

The projected decline in sales arising out of the ongoing Covid19 pandemic combined with FY2020's double-digit fall may downswing the Indian automobile industry by a colossal 50 percent within just two years. As one of the four panellists in Autocar Professional's webinar on 'Rising to a Challenge: Business in the mist of a pandemic', Rajan Wadhera, President, Society of Indian Automobile Manufacturers (SIAM), said that the industry has been losing around Rs 2,300 crore every day on account...

Global crude prices jumped by over $1 per barrel today as major oil producers finally came together to effect the biggest ever output cuts since the 2008 financial crisis. Global Brent crude prices rose $1.23, or 3.9 percent, to $32.71 a barrel on Monday morning. Reports suggest that 23 of 24 OPEC+ members agreed to a proposal to cut output by 10m b/d in May-June 2020 but the agreement is conditional on the consent of Mexico, which is not yet on board. The US, Canada and Brazil also agreed to...