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Breaking Briefs

Ready, steady, go: Tesla begins showroom hunt in Delhi and Mumbai

Launching operations in India is one of the strategic decisions to expand into new markets for Tesla, which suffered a dip in worldwide sales in the first quarter this year which marked an uncomfortable first in nearly four years. Slower growth in China and the US – the company’s two key markets – could have accelerated the entry into India, the report mentioned.
Spectre of crude at $100/barrel looming if Iran-Israel armed conflict persists

However, according to media reports, US President Joe Biden has told Israel’s Prime Minister Benjamin Netanyahu that his country would not participate in any retaliatory action against Iran.
Bitcoin rebounds from a sharp dip as Israel-Iran crisis worsen

According to Coinglass data, approximately $1.5 billion worth of bullish cryptocurrency positions via derivatives were liquidated over Friday and Saturday, marking one of the most substantial two-day liquidation events in at least six months.
Major companies collaborate to address shortage of EV charging stations

In early 2024, the federal government rolled out a plan to achieve its ambitious goal of EVs making up 50% of all new car sales by 2030 and putting together a countrywide network of 500,000 charging stations and it will invest $7.5 billion to help build the charging infrastructure.
In reverse gear: Automobile exports skid 5.5% in FY24

The highest passenger vehicle brand to grow was the country’s biggest automobile manufacturer Maruti Suzuki. In 2023-23 it exported 2,80,712 vehicles which was a good 9% jump from the 2,55,439 units the Japanese company exported the year before.
Bulls of the market today- Tata Motors, TCS, and Nestle India

Indian benchmark indices closed lower by more than 1%.
PV sales post 8.4% growth; cross 4.2 million in FY24

Vehicle sales across categories rose by 12.5 per cent to 2,38,53,463 as against 2,12,04,846 units in fiscal year 2022-23
Made In India in mind, govt seeks to address inverted duty structure with ASEAN

This exercise will put under the lens imbalances in import duties, rules of origin and non-tariff barriers
Telcos unite to resist TRAI proposal on stiffer quality norms

This has pitted the telecom companies in direct confrontation with consumer rights groups who are eager to impose more accountability of the companies vis-à-vis quality of service
Tesla in talks with Reliance to set up plant in India

These discussions, although in their early stages, have been ongoing for over a month, indicating both parties' interest

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