&w=3840&q=100)
Schaeffler to invest €500 million in India, opens fifth plant in Tamil Nadu
German firm Schaeffler will invest €500 million in India over five years to grow EV, rail, and renewable businesses and deepen localisation amid global shifts
Premium
Anjali Singh Dev Chatterjee
Listen to This Article
German automotive and industrial supplier Schaeffler AG will invest 500 million euros (approximately ₹4,800 crore) in India over the next five years, anticipating growing demand in the local market.
The investment will focus on expanding production capacity, increasing localisation, and strengthening the company's presence in electric mobility, railways, and renewable energy component manufacturing, Schaeffler AG chief executive officer (CEO) Klaus Rosenfeld announced here on Wednesday.
Company executives outlined plans for the Indian market, which, they said, continues to present opportunities despite a flattening global automotive demand.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
36 minutes ago
- Mint
Big, beautiful budgets: not just an American problem
LAST YEAR America ran a budget deficit of 7% of GDP. It may soon be even bigger. President Donald Trump's One Big Beautiful Bill Act, now working its way through Congress, permanently extends tax cuts introduced in 2017, offers more to hospitality workers and old folk, and boosts payments to poor children. The proposed legislation amounts to trillions of dollars of extra borrowing over the next decade. Mr Trump's showmanship attracts attention—but America is not alone. Governments across the rich world are increasingly profligate (see chart 1). This year France will run a deficit worth 6% of GDP; Britain's will be only a little smaller. The German government will borrow the equivalent of 3% of GDP. Canada's budget balance is also moving into the red. Jean-Baptiste Colbert, a bureaucrat under Louis XIV, remarked that the essence of tax policy involved 'plucking as many feathers from the goose with the least hissing". Today's governments do not pluck the goose. Like producers of foie gras, they stuff it. Governments have long run deficits. France, the land of foie gras, has not seen a surplus since 1974. And a government can simultaneously borrow money and become less indebted, if the economy grows faster than debt accumulates. What is happening today, however, is unprecedented. Deficit levels would not be unusual if the economy were in recession. In fact, rich-world GDP is growing decently. The unemployment rate is near an all-time low. Corporations' profit growth is healthy. Meanwhile, borrowing costs have jumped. The average rich-world government, weighted by GDP, now borrows for ten years at a 3.7% annual interest rate, up from 1% during the covid-19 pandemic. In these circumstances, many textbooks would advise, at the very least, cutting your deficit. Today's governments prefer to double down. Many are promising to raise defence spending. Although that may be unavoidable, the same is not true of other decisions. In Japan political parties are offering fiscal sweeteners, ranging from cash handouts to consumption-tax cuts, ahead of an election to the upper house of parliament. The British government recently undid cash-saving measures it had imposed only a few months before, restoring payments to old people to help with energy bills. South Korea is cutting inheritance tax. Australia is cutting income tax. Even once-prudent countries are getting in on the act. The German government is planning to borrow €800bn ($940bn) to invest in defence and infrastructure. 'By German standards, this truly is 'whatever it takes' fiscal policy," say analysts at Deutsche Bank. Switzerland, which before the pandemic ran a large budget surplus, now has a small one. Next year the country will introduce a 13th month of state-pension payments. The silver-haireds enjoying a late lunch on the banks of the Rhine do not appear to be on the breadline. These days, though, everyone gets a handout. Why are governments so spendthrift? During the pandemic politicians developed a habit of bailing out businesses and households. High inflation then spurred demands for payments to alleviate a 'cost-of-living crisis". Today many incumbents hope to ward off populists by throwing around money. When a politician suggests a cut, 24-hour news and social media ensure that everyone hears a sob story. Fiscal responsibility is more toxic than ever before. Until recently, it was painless for governments to run loose fiscal policy. In 2021-23 nominal GDP was growing reasonably fast, inflation was high and interest rates were low. Under these conditions, the average rich-world government could run sizeable primary deficits (ie, before interest payments) and still cut their debt load. Some countries, such as Japan, could reduce their debt-to-GDP ratio even if they ran a primary deficit of 12% of GDP. As such, two-thirds of rich-world governments are less indebted today than five years ago. Japan's debt-to-GDP ratio has fallen by 24 percentage points. Greece's has fallen by 68 points. Today growth and inflation are down, and interest rates are up. We calculate that, for the average rich country to cut its debt, it must now balance its primary budget. For some, the fiscal arithmetic has radically altered. Italy's debt-reducing primary balance has swung from a deficit of 3.1% of GDP in 2023 to a surplus of 1.3% of GDP. The Italians are shrinking their budget deficit, but not by enough. With many other governments making even less progress, and a trade war promising a growth slowdown, rich-world public debt is likely to start rising (see chart 2). This is bad timing. Demographers have known for decades that the mid-2020s would be the point at which baby-boomers would begin to retire in droves, prompting demand for health care and pensions to surge. In 2015 Britain's Office for Budget Responsibility, a watchdog, suggested that even under benign conditions, now was the point at which the government would struggle to avoid accumulating debt. A demographic crunch and free-spending fiscal policies are therefore about to interact in unpleasant ways. No one can predict if or when investors will lose patience, forcing interest rates much higher. Yet there must be a limit to the debt binge. As any lover of foie gras knows, overfeeding even the greediest goose can cause its liver to explode.
Hans India
37 minutes ago
- Hans India
Robotics education:A 21st-century catalyst for innovation
As Artificial Intelligence and Machine Learning reshape the digital world, their real-world impact depends on physical technologies—most notably, robotics. Robotics education is emerging as a crucial bridge between theoretical innovation and practical application. From smart manufacturing to national security, robotics is key to transforming India from a service-based economy to a technology-exporting powerhouse. With rising demand, robust government initiatives, and growing educational focus, robotics offers both financial promise and professional fulfillment. For today's students and professionals, investing in robotics education means leading tomorrow's tech evolution—far beyond just coding and programming The emergence of new-age digital technologies, especially in Artificial Intelligence (AI) and Machine Learning (ML) has led the world to emphasize these disciplines in a new light. However, while these technologies are projected to become the backbone of technological evolution in the coming years, their supremacy can only be established with physical means. For instance, AI's pinnacle of success could only be achieved through solutions that address physical challenges such as manufacturing, security, or construction to name a few. However, to undertake these challenges, integrating advanced robotics would be crucial. For India's abundant tech professionals, this highlights a real-life catalyst for driving their professional ambitions forward while also contributing to the country's overall development. India is already placing much emphasis on AI, however, to become a tech-sovereign nation the likes of Robotics would have to be supported massively. This can only be done via motivated participation in these disciplines from Indian talents, who must look beyond coding and programming to make India from a net service exporter to a net technology exporter. Additionally, the current state of Robotics in India also highlights significant financial incentives for a professional, with the added scope of becoming drivers of the industry in the country. At the same time, traditional colleges and universities are integrating Robotics as part of their curriculums. Furthermore, initiatives such as the Atal Tinkering Labs have proved to be a catalyst in this regard, being supplemented by the National Education Policy (NEP) 2020 that has detailed robotics and STEM education in K-12 education space, creating a funnel for more advanced educational & research platforms. The objective of these introductions is clear — to establish a robust Robotics ecosystem in the country, that can be used by millions of talents, professionals and other stakeholders to drive the country's vision in the future, while also assisting them in garnering professional excellence and financial assistance. Robotics education: A catalyst for professional aspirations? While the concepts of Robotics are not really new, the emergence of AI is transforming it dramatically. The world is integrating the two technologies to create solutions that are not only superior but also transform how we perceive work irrespective of its functionalities. This is where trained professionals in contemporary robotics education will be of particular value to the national interest, while also bridging the present gap in the space. At present, a Robotics Engineer in India with a mid-level experience of 5 years, can earn up to 10 lakh per annum. However, it is a serious challenge for organizations to get professionals with ample experience and capabilities in the domain, offering a unique opportunity for talents. This concern can be essentially addressed by establishing a robust education in Robotics and its intricacies around the country. The Indian government and a few state governments are already working on making this a reality, however, the push must also come from traditional educational bodies like colleges and universities. However, this remains a long-term plan, and to address this concern at present, professionals can look to garner valuable training or knowledge via upskilling. The Indian EdTech space has already pointed this aspect out and has been offering supplementary courses that will help professionals hone their skills as per the industrial requirements. This can help professionals to integrate themselves into the industry by equipping them with era-appropriate knowledge, and capabilities and most importantly, creating a supply line of talents to the industry stakeholders. Looking Ahead The foundations are carefully being laid by the Indian public and private sectors for the creation of a robust Robotics ecosystem in the country. However, the long-term efficacy of the efforts will depend on the talents themselves, and their innovation will be the primary catalysts for evolving the space into a full-fledged sector to drive India's national ambitions. In the coming decade, more Indian talents must look beyond coding and programming, skills that would soon be engulfed with AI coming in as a more time and cost-effective solution and instead look for more innovative technological skills. Robotics would be the perfect suitor in this aspect and could prove to be the catalyst of the professional ambitions and financial incentives Indian talents are looking for in the long term.
&w=3840&q=100)
Business Standard
39 minutes ago
- Business Standard
Stock Market LIVE: GIFT Nifty flat; Nikkei gains 1.5%; S&P, Nasdaq hit record highs
Sensex Today | Stock Market LIVE on Monday, June 30, 2025: Around 7:10 AM, GIFT Nifty futures were trading 22 points higher at 25,772, indicating a flat to positive start for the bourses. 7:17 AM Stock Market LIVE Updates: Reliance Jio on path to become dominant FWA player globally: Analysts Stock Market LIVE Updates: Indian telecom major Reliance Jio is on track to become the world's largest Fixed Wireless Access provider by subscriber base, eclipsing US-based telecom giant T-Mobile, an analyst report said on Sunday. According to recent data released by telecom regulator Trai, Reliance Jio total 5G FWA subscriber base (including unlicensed band radio) reached 6.88 million in May, while T-Mobile had 6.85 million subscribers in March. Reliance Jio reclassified around 1 million Fixed Wireless Access (FWA) unlicensed band radio (UBR) subscribers into FTTx category, following which its net FWA subscriber base stood at 5.9 million in May, with a monthly addition of 0.74 million customers. READ MORE 7:13 AM Stock Market LIVE Updates: China's manufacturing activity contracts for a third month amid deflation woes Stock Market LIVE Updates: China's manufacturing activity contracted for a third straight month in June, an official survey showed on Monday, fueling hopes for more stimulus to cushion the impact of ongoing trade disruptions. The official purchasing managers' index (PMI) improved slightly to 49.7 in June from 49.5 in May but stayed below the 50-benchmark separating expansion from contraction. That figure was in line with analysts' forecast of 49.7 in a Reuters poll. The non-manufacturing PMI, which includes services and construction, rose to 50.5 from 50.3 in May. Chinese manufacturers have been grappling with a deepening price war amid a supply glut and sluggish consumer demand, exacerbated by higher US tariffs that dwarfed its exports to the world's largest consumption market. 7:13 AM Stock Market LIVE Updates: Rare earth curbs to affect ICE vehicles as well: Automobile industry Stock Market LIVE Updates: Raising concerns over China's export curbs on rare-earth elements, the automobile industry is learnt to have told the Ministry of Commerce and Industry earlier this month that the issue threatens to disrupt production of not just electric vehicles (EVs) but also internal combustion engine (ICE) automobiles. To raise these issues, a delegation of senior executives from leading automakers and component manufacturers was scheduled to visit China this month. However, Chinese authorities are yet to respond positively to India's request to allow the delegation, people familiar with the matter said. READ MORE 7:09 AM Stock Market LIVE Updates: Torrent Pharma to acquire JB Pharma from KKR at ₹25,689 cr valuation Stock Market LIVE Updates: In one of the largest pharmaceutical deals in India in recent years, Ahmedabad-based Torrent Pharmaceuticals will acquire a controlling stake in investment firm KKR-backed JB Chemicals and Pharmaceuticals (known as JB Pharma) at an equity valuation of ₹25,689 crore. This will be followed by the merger of the two entities. The deal will be executed in two phases: First the acquisition of the 46.39 per cent stake of KKR in JB Pharma at ₹1,600 per share, amounting to ₹11,917 crore, and then a mandatory open offer to acquire up to 26 per cent of JB Pharma shares from public shareholders at an open offer price of ₹1639.18 per share. READ MORE 7:08 AM Stock Market LIVE Updates: MF distribution industry moving towards consolidation: Misbah Baxamusa Stock Market LIVE Updates: Misbah Baxamusa, chief executive officer (CEO) at NJ Wealth — one of India's largest mutual fund (MF) distributors, with assets under management (AUM) of over ₹2.5 trillion — tells Business Standard in an email interview that they're seeing growing interest from salaried individuals, small business owners, and first-generation earners in Tier-II and Tier-III cities, who are aspirational and open to exploring investment avenues. READ MORE 7:06 AM Stock Market LIVE Updates: Growth to remain muted for IT services firms in Q1 amid macro uncertainty Stock Market LIVE Updates: Indian information technology (IT) service providers are expected to deliver low single-digit sequential growth in the first quarter (April-June) of 2025-26 (FY26), even as macroeconomic uncertainties continue to persist due to the volatile geopolitical environment. While the road ahead appears far from rosy, IT companies – which depend on the US for a large part of their revenue – point to no material deterioration in the spending environment. The quarter ended June 30 looks slightly better than what was feared earlier. 'This quarter will not be as bad as March but not as good as January either. While there has not been a sharp cut in spending, growth in this environment is difficult to come by as clients are still cautious on spending. For largecap players, our growth estimate is at sub-2 per cent while at the bottom end it is about a negative 1.5 per cent, at worst, sequentially,' said a senior analyst at an international research firm. READ MORE 7:05 AM Stock Market LIVE Updates: A $738 bn potential: 9 sectors set to redraw India's global growth map Stock Market LIVE Updates: Indian companies could achieve disproportionate growth through distinctly Indian capabilities in nine transformative sectors in the global arena, which could collectively yield between $588 billion and $738 billion in revenues by 2030, according to estimates by McKinsey & Company. That represents a three and a half fold increase over 2023, which was pegged at between $164-206 billion. This engine of growth is expected to come from nine sectors: e-commerce, semiconductor, Cloud services, cybersecurity, electric vehicle and battery, artificial intelligence (AI) software and services, space, nuclear fission, and robotics. The sectors were chosen based on either patent activity being twice the median or research and development (R&D) investment outpacing the national average by a factor of two. READ MORE
