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India Gazette
29 minutes ago
- India Gazette
India's per capita debt of individual borrower rises significantly over last two years: RBI Report
New Delhi [India], July 1 (ANI): The per capita debt of individual borrowers in India has witnessed a sharp increase over the past two years, rising from Rs 3.9 lakh in March 2023 to Rs 4.8 lakh in March 2025, according to the financial stability report released by the Reserve Bank of India (RBI). The report highlighted that this rise in debt levels has been primarily driven by higher-rated borrowers. RBI stated, 'At an aggregate level, the per capita debt of individual borrowers has grown from Rs 3.9 lakh in March 2023 to Rs 4.8 lakh in March 2025'. At an aggregate level, the growth in household debt has been supported by steady increases in housing loans, which formed 29.0 per cent of the total household debt as of March 2025. While the growth in housing loans has remained stable overall, a deeper look at the data shows that incremental growth is being led by existing borrowers. These borrowers are availing additional loans, and their share has increased to more than one-third of the total housing loans sanctioned in March 2025. The report also flagged a concerning trend of increasing loan-to-value (LTV) ratios. The share of borrower accounts with LTV ratios greater than 70 per cent is on the rise. Additionally, delinquency levels remain elevated among lower-rated and more heavily leveraged borrowers, though these levels have declined considerably compared to the period during the COVID-19 pandemic. India's household debt has been on an upward trajectory in recent years, mainly due to increased borrowing from the financial sector. However, as of end-December 2024, household debt stood at 41.9 per cent of GDP at current market prices, which is still relatively low when compared with other emerging market economies (EMEs). Among the broad categories of household debt, non-housing retail loans have taken the lead. These loans, which are primarily used for consumption purposes, accounted for 54.9 per cent of total household debt as of March 2025. They also represented 25.7 per cent of disposable income as of March 2024. The share of non-housing retail loans, like auto loans and loans for white goods has been rising steadily over the years, and their growth has outpaced that of housing loans as well as loans taken for agriculture and business purposes. The Central bank report highlighted the importance of monitoring household debt trends, particularly the shifts in borrower profiles and lending patterns, to ensure long-term financial stability. (ANI)
Yahoo
34 minutes ago
- Yahoo
Fuel Cell Electric Vehicle Market Trends 2025: Over 100 Hydrogen Stations in Germany, USD 7 Billion Hydrogen Plan in France
According to Towards Automotive consultants, the global fuel cell electric vehicle market size is calculated at USD 3.09 billion in 2025 and is expected to reach around USD 17.73 billion by 2034, growing at a CAGR of 21.40% from 2024 to 2034. Ottawa, July 01, 2025 (GLOBE NEWSWIRE) -- The global fuel cell electric vehicle market size was valued at USD 2.55 billion in 2024 and is predicted to hit around USD 17.73 billion by 2034, a study published by Towards Automotive a sister firm of Precedence Research. Get All the Details in Our Solutions - Access Report Preview: Market Overview & Potential: Fuel Cell Electric Vehicles (FCEV) are vehicles that utilize hydrogen energy for operating vehicles resulting in by-products such as electricity, heat, and water. Hence, such vehicles are sustainable and helpful for cleaner environments. After the global pandemic consumer awareness has been observed in different types of domains. Hence, sustainable practices have helped the automobile industry to bring environmental-friendly changes as well. The fuel cell electric vehicle market is expanding at a huge pace after COVID-19 due to the resumed flow of money and resumed investments in the automobile industry. It has helped the hydrogen vehicle manufacturing industry to resume the manufacturing procedure and aid in maintaining a sustainable environment. What are Advantages of Fuel Cell Electric Vehicles? There are multiple advantages of using fuel cell electric vehicles compared to battery electric vehicles giving a reason for people to switch to sustainable choices. Fuel cell electric vehicles by-products result in heat, electricity, and water resulting in zero emission. Hence, they are one of the most sustainable choices for the environment. They require less refueling time compared to battery electric vehicles and can be easily refueled at hydrogen gas stations similar to fuel engine stations. Fuel cell electric vehicles also provide longer driving ranges compared to battery electric vehicles. What are the Major Trends of the Fuel Cell Electric Vehicle Market? Technological Advancements- Technological advancement in the manufacturing of fuel cell electric vehicles is helping in the expansion of the fuel cell electric vehicle market. Technological advancements help in better performance of the vehicle along with better efficiency helping people to adapt to it at a higher pace. Such advancements also help in better fuel cell durability positively impacting the performance. It also helps in providing a longer drive range compared to battery electric vehicles. Enhancement in Commercial Vehicle Industry- Due to its longer driving range, fuel cell electric vehicles are highly adopted by the commercial transport industry. It helps in enhancing the fuel cell electric vehicle market as well. Different types of vehicles such as buses and trucks are included in the commercial fuel cell vehicle industry for easy transportation facilities. Easy refueling facility of fuel cell electric vehicles is also one of the major reasons for the high inclination towards the industry. The commercial transportation industry is also inclining towards incorporating fuel cell electric vehicles due to their zero-carbon emission for a sustainable environment. Maintaining Sustainability- One of the major benefits of using fuel cell electric vehicles is zero carbon emission. It helps in maintaining sustainability. Hence, the promotion of such vehicles helps in enhancing the fuel cell electric vehicle market. Due to its eco-friendly nature such vehicles are also highly used in the commercial transport industry as gasoline vehicles create higher carbon emissions due to their continuous movement. You can place an order or ask any questions, please feel free to contact us at sales@ What is the Role of AI in the Growth of Fuel Cell Electric Vehicle Market? Optimized Performance- One of the major benefits of AI involvement in the fuel cell electric vehicle industry is improved performance. The advanced technology helps in analyzing the data from the sensors fitted in the fuel cell system of the vehicle and adjusting various settings for improved performance of a vehicle. AI helps in efficient fuel management and efficient driving range by studying the algorithm of the vehicle. Reducing Downtime- Another major benefit of AI for the fuel cell electric vehicle market is it helps in early detection of potential failures of the vehicle or the fuel cell system. Hence, one can stay alert and lower the chances of downtime. The technology is extremely beneficial for the commercial transportation industry as the vehicle involved in the industry needs timely maintenance for hassle-free long journeys. The technology also helps in avoiding big technical issues with the help of timely alerts due to AI. It helps in the proper maintenance of vehicles and avoids major expenditures required for vehicle maintenance. Autonomous Driving- The involvement of autonomous driving options in fuel-cell electric cars is in progress in many nations. The main purpose of the advanced feature is to help a driver with aspects such as lane keeping, adaptive cruise control, and complete autonomous driving for enhanced safety of the driver. It will help the industry to boom in the forecast period and allow the market to spike as well. What are the Major Government Initiatives Observed for the Growth of the Fuel Cell Electric Vehicle Market? Government initiatives to promote the use of fuel cell electric vehicles have been observed highly in recent years in many nations. The initiative helps in promoting eco-friendly vehicles helping in maintaining the sustainability of the environment. Let us put the limelight on some of the major government initiatives aiding in the growth of fuel cell electric vehicle market: FAME II Scheme- The scheme introduced by the Indian Government provides incentives to people to purchase battery electric vehicles and fuel cell electric vehicles. The scheme helps lower the upfront cost and promote the use of electric vehicles for zero carbon emission for a healthier environment. PM-E-DRIVE Scheme- The scheme involves providing incentives for the purchase of electric and fuel cell electric vehicles. The scheme also helps in providing funds for the development of charging infrastructure for such vehicles. It helps in increasing the inclination of people to use sustainable vehicles and low carbon emissions. Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI)- The scheme helps to attract local electric vehicle manufacturers to set up multiple EV units along with fuel cell electric vehicle manufacturers to set up vehicles as well as their components manufacturing units. Infrastructure Funds- Government initiatives for investing in the development of hydrogen refueling stations have helped the market to evolve. It helps in increasing the number of refueling stations and making it convenient for people to adapt to switching to sustainable vehicles to lower carbon emissions caused due to gasoline vehicles. All the Stats, Charts & Insights You Need – Get the Databook Now: What are the Limitations and Challenges Faced by the Fuel Cell Electric Vehicle Market? High Initial Costs- One of the major barriers faced by the fuel cell electric vehicle market is the high initial cost required for the setup and manufacturing of fuel cell electric vehicle units. Hence, many automobile industries aren't able to initiate the thought process of stepping into the manufacturing of electric vehicles and stay reliant on the manufacturing of gasoline vehicles. Though subsidies help to manage the costs to a small extent it isn't sufficient to suffice the price gap completely. Limited Infrastructure- The limited number of hydrogen refueling stations leading to low purchase of fuel cell electric vehicles is another barrier to the growth of the market. Hydrogen production is a process that relies on fossil fuels and hence is not a completely sustainable option. Hence, sustainable hydrogen extraction practices are still under development procedure leading to slow growth of the fuel cell electric vehicle market. Also, hydrogen storage and its transportation to hydrogen refueling stations is a risky procedure that needs to be carried out with utmost care and safety. Regional Analysis How Does Asian Countries Hold Large Share in Fuel Cell Electric Vehicle Market? Asia Pacific dominated the fuel cell electric vehicle market in 2024 due to multiple contributing factors to the growth of the market. The region had a major revenue share in the market marking itself as the dominating region. South Korea and Japan had the major share of passenger car manufacturing units helping the market growth in Asia Pacific. Japan's government providing subsidies to their residents for the purchase of fuel cell electric vehicles market is helping the expansion of the market in the region. Also, the growth of the market is aided by to use of fuel cell electric vehicles in the region in the form of public vehicles and in the commercial transport industry. China & India: Largest Contributor to the Market's Expansion China and India are emerging as significant players in the global Fuel Cell Electric Vehicle (FCEV) market, each contributing in distinct but impactful ways. China is currently the global leader, with a deeply integrated national strategy aimed at scaling hydrogen infrastructure and FCEV deployment. Through its Medium- and Long-Term Plan for Hydrogen Energy, China aims to have 100,000 to 200,000 FCEVs and 1,000 hydrogen refueling stations by 2030. The country already accounts for over 90% of global FCEV buses and has made substantial progress in heavy-duty truck deployment. Key cities and provinces, like Shanghai and Guangdong, are acting as FCEV innovation hubs, supported by public and private sector champions such as REFIRE, Changan, and Sinopec. In contrast, India is at an earlier stage but is moving quickly, catalyzed by the National Green Hydrogen Mission and Production Linked Incentive (PLI) schemes that promote clean mobility and hydrogen production. Recent milestones include the launch of India's first fleet of hydrogen fuel cell buses in Ladakh and growing participation from major corporations like Tata Motors, Adani, NTPC, and Mahindra. What to Expect from Europe's Fuel Cell Electric Vehicle Market? Europe has observed a notable growth with the largest revenue share in the forecast period. The government is pushing the manufacturing industries for the development of fuel cell electric vehicles leading to the growth of the market. The government of France also announced the use of fuel cell electric vehicles for public transportation and government use helping to hike the market in the forecast period. Several leading economies, including Germany, France, and the Netherlands, are investing heavily in hydrogen infrastructure. Germany, for instance, is spearheading the H2 Mobility initiative and already operates over 100 hydrogen refueling stations, aiming for a nationwide network to support both passenger and freight vehicles. France has launched a €7 billion hydrogen plan and is promoting hydrogen-powered buses and light commercial vehicles. Fuel Cell Electric Vehicle Market Segmentation Vehicle Insights: Heavy duty vehicle segment led the market in 2024. The heavy-duty vehicle segment—which includes buses, trucks, and other commercial vehicles, clearly led the FCEV market in 2024, capturing the lion's share of revenue and momentum. This dominance is largely due to hydrogen fuel cells' ability to deliver high energy density, rapid refueling, and long operational ranges—attributes especially valued in heavy-duty applications. According to Mordor Intelligence, commercial vehicles, particularly heavy-duty ones, are projected to register the highest CAGR (49.34%) through 2030, reflecting accelerating adoption in this category. Distance Insights: Short distance segment held a significant share of fuel cell electric vehicle market in 2024. Governments and city planners in regions like Europe, China, Japan, and South Korea have prioritized hydrogen for urban decarbonization. Many pilot programs and subsidies have targeted short-range use, boosting early adoption. Their dominance is expected to continue until hydrogen refueling networks expand enough to support long-range vehicles like trucks and intercity buses on a larger scale. Hydrogen refueling stations are still limited and mostly concentrated in urban areas. Short-distance FCEVs, such as city buses, passenger cars, and delivery vans, can easily access these refueling points without relying on a widespread national network. Long distance segment is seen to grow at a notable period in the forecast period. The long-distance segment of the Fuel Cell Electric Vehicle (FCEV) market is projected to witness notable growth during the forecast period, driven by increasing demand for zero-emission solutions in heavy-duty transportation and long-haul logistics. As hydrogen infrastructure expands beyond urban centers, FCEVs are becoming a viable alternative to diesel-powered trucks and buses for covering extended distances. Fuel cells offer key advantages for long-range applications, including fast refueling times, longer operational ranges, and higher payload efficiency compared to battery electric vehicles. Get the latest insights on automotive industry segmentation with our Annual Membership: Top Companies of the Fuel Cell Electric Vehicle Market Daimler AG Honda Motor Co., Ltd. Nikola Corporation TOYOTA MOTOR CORPORATION HYUNDAI MOTOR GROUP Ballard Power System Inc. AB Volvo General Motors BMW AG AUDI AG Recent Developments in the Fuel Cell Electric Vehicle Market In April 2025, Hyundai launched its all-new-NEXO, mid-size SUV at Seoul Mobility Show in Korea 2025. The company claims that the passenger car can run up to 700km in just 5 minutes of charging making it a powerful vehicle in the fuel cell electric vehicle industry. In June 2025, Toyota launched its fuel cell trucks marking its step in sustainable logistics. In partnership with VDL Groep, Toyota Motor Europe launched its fuel cell trucks which are operational on the logistical routes of Belgium, France, Germany, and the Netherlands. In March 2025, Tata Motors launched India's First Commercial Hydrogen Truck Trials with the motive of net zero-emission in the future. The initiative was flagged off by Shri Nitin Gadkari, Hon'ble Union Minister of Road Transport & Highways, Shri Pralhad Joshi, Hon'ble Union Minister of New and Renewable Energy along with Mr. Girish Wagh, Executive Director, and Tata Motors. More Insights into Automotive: Automotive Fuel Feed Pumps Market: Automotive Fuel Transfer Pumps Market: Flex Fuel Vehicle Market: Hydrogen Fuel Cell Vehicle Market: Fuel Injection System Market: Fuel and Lube Trucks Market: Automotive Fuel Tank Market: Automotive Fuel Filter Market: Automotive Fuel Cell System Market: EV Battery Cell and Pack Materials Market: Segments Covered in the Report By Vehicle Heavy Duty Vehicle Agriculture Buses Port Vehicles/ Container Handling or Transport Automotive Class 8/ Long Haul Forklift E-bikes By Distance Short Long By Geography North America U.S. Canada Europe U.K. Germany France Asia-Pacific China India Japan South Korea Malaysia Philippines Latin America Brazil Rest of Latin America Middle East & Africa (MEA) GCC North Africa South Africa Rest of the Middle East & Africa For pricing details and customized market report options, click here: You can place an order or ask any questions, please feel free to contact us at sales@ Subscribe to our Annual Membership and gain access to the latest insights and statistics in the automotive industry. Stay updated on automotive industry segmentation with detailed reports, market trends, and expert analysis tailored to your needs. Stay ahead of the competition with valuable resources and strategic recommendations. Join today to unlock a wealth of knowledge and opportunities in the dynamic world of automotive: Get a Subscription About Us Towards Automotive is a premier research firm specializing in the automotive industry. Our experienced team provides comprehensive reports on market trends, technology, and consumer behaviour. We offer tailored research services for global corporations and start-ups, helping them navigate the complex automotive landscape. With a focus on accuracy and integrity, we empower clients with data-driven insights to make informed decisions and stay competitive. Join us on this revolutionary journey as we work together as a strategic partner to reinvent your success in this ever-changing automotive world. Our Trusted Data Partners Precedence Research | Statifacts | Towards Packaging | Towards Healthcare | Towards Food and Beverages | Towards Chemical and Materials | Towards Consumer Goods | Towards Dental | Towards EV Solutions | Nova One Advisor | Healthcare Web Wire | Packaging Web Wire | Automotive Web Wire For Latest Update Follow Us: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
35 minutes ago
European Central Bank head: Frequent shocks to economy make inflation more unpredictable
FRANKFURT, Germany -- The head of the European Central Bank said inflation has become more unpredictable due to shocks like the COVID-19 pandemic and Russia's invasion of Ukraine — and that policymakers need to take the possibility of such extreme scenarios into account and communicate them to the public as well. 'The world ahead is more uncertain, and that uncertainty is likely to make inflation more volatile,' ECB President Christine Lagarde said Monday in a speech opening the central bank's annual conference in Sintra, Portugal. 'It's pretty basic but that's the reality.' One reason, she said, was that increasingly regular supply disruptions were leading companies to change their prices more frequently, a habit that goes beyond the recent burst of inflation in the U.S. and Europe and 'reflects a structural shift in how firms operate under conditions of permanently higher uncertainty." The bank's assessment of the economy needs to rely on taking extreme possible scenarios into account as well as the more likely baseline predictions, and it should let the public in on those possible outcomes as well, she said. Lagarde in particular cited the inflation spike that followed Russia's invasion of Ukraine, where a baseline scenario based on higher energy prices suggest inflation for 2022 of 5.5% - but a worst-case scenario indicated more than 7% inflation, much closer to the final figure of 8%. Another example was the pandemic, where spending by homebound consumers shifted from services like restaurants to goods such as home exercise equipment. 'Scenario analysis could have helped in illustrating that the range of possible inflation outcomes was unusually wide – and would have reduced the risk of projecting false certainty to the public,' Lagarde said. The bank's strategy review announced Monday reaffirmed its target of 2% for inflation, a goal it has met for the time being as annual price increases were 1.9% in May. The drop in inflation has let the bank cut its benchmark interest rate from a peak of 4% to 2%. Threats of higher tariffs from U.S. President Donald Trump have added to uncertainty about the outlook for growth and inflation. The European Commission and US negotiators are trying to reach agreement on a trade deal ahead of a July 9 deadline. The conference in Sintra is the ECB's equivalent of the U.S. Federal Reserve gathering in Jackson Hole, Wyoming, and gathers top central bankers and economists from around the world. Fed Chair Jerome Powell is to take part in a panel on Tuesday with Lagarde, Bank of England Government Andrew Bailey, Bank of Korea Governor Chang Yong Rhee and Kazuo Ueda, the governor of the Bank of Japan.
