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Business Standard
7 hours ago
- Automotive
- Business Standard
China's rare earth curbs: No relief for EV cos as govt pushes localisation
The directive came amid growing industry concern over supply chain constraints following China's April 4 move to restrict exports of rare earth magnets Deepak Patel New Delhi Listen to This Article The Ministry of Heavy Industries, through its vehicle-testing agencies, on Thursday instructed electric two- and three-wheeler manufacturers to formally declare they have adequate rare earth magnet inventories and are producing key components — traction motors and electronic throttles — locally, as required under the PM E-DRIVE scheme, Business Standard has learnt. The directive came amid growing industry concern over supply chain constraints following China's April 4 move to restrict exports of rare earth magnets —critical inputs in traction motors. Automakers had been anticipating temporary relief from localisation rules, arguing indigenisation of certain auto parts in the current scenario was unviable.
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Business Standard
7 hours ago
- Business
- Business Standard
Less discretion needed: Transfer-pricing proposal may lead to litigation
Indeed, in some cases additional discretionary powers will be granted by some proposed changes. Business Standard Editorial Comment Mumbai Listen to This Article A parliamentary select committee has submitted a report on the new Income Tax Bill, which is meant to replace the current law, in force since 1961. It has suggested multiple changes to the draft Bill, including those pertaining to the assessment of income from real estate. The committee has praised the clarity of the new Bill, which has 536 sections in 23 chapters, while identifying some areas where greater clarity in definitions might be required. It is surprising, however, that the legislators have not in general pushed back against excessive discretion being granted to the income-tax authorities. For example, it
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Business Standard
7 hours ago
- Business
- Business Standard
Winning ways: Delhi must study global best sports management practices
Though encouraging, this news-making spending from one of India's richest among the states and Union Territories may also be viewed as an attempt at constructive competitive federalism Business Standard Editorial Comment Mumbai Listen to This Article The Delhi government's decision to substantially increase cash rewards and government jobs for medal-winning sportspeople from the city representing the Union Territory and the country at national and international levels is a laudable attempt to build a healthy sporting culture. Under the Mukhyamantri Khel Protsahan Yojana (Chief Minister Sports Encouragement Scheme), the rewards for Olympic and paralympic gold medallists have been raised from ₹3 crore to ₹7 crore, silver medallists will get ₹5 crore, and bronze medallists ₹3 crore. Asian and Para-Asian Games gold medallists will be given ₹3 crore, silver medallists ₹2 crore and bronze medallists ₹1 crore. For
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Business Standard
8 hours ago
- Sport
- Business Standard
Neeraj Chopra vs Arshad Nadeem unlikely in Poland: Pakistani Javelin Coach
The much-anticipated duel between double Olympic medallist Neeraj Chopra and reigning champion Arshad Nadeem at the Diamond League in Poland lies in uncertainty after the Pakistani javelin thrower underwent a surgery on his calf muscle in England recently. Chopra and Nadeem were scheduled to face each other for the first time next month, one year after the mouth-watering men's javelin competition at the 2024 Paris Olympics, where the Pakistani came out on top, beating his Indian counterpart for the gold medal with a stunning 92.97m throw. The 27-year-old Chopra, who had won gold in Tokyo Olympics in 2021, had to settle for a silver in Paris with a best throw of 89.45m. The duo were set to compete against each other in the Diamond League in Silesia, Poland on August 16 and then in Switzerland next month. Nadeem's coach Salman Butt, who is with him in England, informed that the reigning Olympic champion is unsure for both the events as he was more focussed on making his comeback at the World Athletics Championships in Tokyo in September. "He (Nadeem) is more focussed on preparing for the World Championships in Tokyo in September which is why he decided to have the surgery on his calf muscle which had been bothering for a while now," Butt said. "I don't think they will compete against each other until the World event," he added. Dr Ali Bajwa performed an interventional procedure on Nadeem's calf muscle at the Spire Hospital in Cambridge. Nadeem is now undergoing rehabilitation in London and Butt said if the doctor gives clearance, he might compete in one event before the World Championships in Tokyo. "The World Championships are very important for Arshad (Nadeem) as he finished with a silver behind Neeraj (Chopra) in Budapest in 2023," the coach said. Nadeem has won gold medals at the Paris Olympics, 2022 Commonwealth Games in Birmingham and recently the Asian Athletics Championships in Gumi, South Korea earlier this year. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Business Standard
8 hours ago
- Business
- Business Standard
Thermostat setting: India's move towards energy-efficient AC solutions
We often see airconditioning as a luxury that middle-class families and small businesses cannot afford Mumbai Listen to This Article 'For the first time, India will mandate setting airconditioner temperatures no lower than 20 degrees Celsius and no higher than 28 degrees Celsius across all sectors — including cars — amid rising temperatures due to climate change and increasing use of cooling systems,' Union power minister Manohar Lal Khattar said (Business Standard, June 10, 2025). India has had a rather patchy relationship with airconditioning. It has often been seen as a wasteful use of energy. The HVAC (heating ventilation airconditioning) industry did not try to correct this image from 'energy wastage' to 'better work environment / better productivity'. Public sector
