India Surpasses Japan to become 3rd Largest Auto Market Globally

07 January 2023
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India Surpasses Japan to become 3rd Largest Auto Market Globally

In a major development, India has surpassed Japan in terms of auto sales last year to become the third-largest auto market globally for the first time. India’s total sales of new vehicles stood at around 4.25 million units, based on preliminary results, topping the 4.2 million sold in Japan. While new vehicles that got delivered in India totaled 4.13 million during the period of January – November 2022, according to Society of Indian Automobile Manufacturers’ data, December’s sales volume reported by Maruti Suzuki, India’s largest carmaker, led the total to hit the 4.25 million units mark. The figure for sales of new vehicles in India may witness even bigger rise as the country further expects inclusion of pending fourth-quarter sales data for commercial vehicles, along with year-end results yet to be released by Tata Motors and other automakers.

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Impressive Progress In Indian auto industry:

The figures are impressive after fluctuations that were witnessed in the Indian auto industry between 2018-2020. From In 2019, volume had fallen even below the 4 million unit mark from the about 4.4 million figure of 2018. A lot of this downfall was a result of the credit crunch that had impacted the nonbank sector that year.

This was followed by the obvious decline in the year 2020 because of the COVID-19 outbreak when vehicle sales fell even lower than the 3 million unit mark. In 2021, the auto sales bounced back to close to 4 million unit again. However, the sales figure was hampered because of shortage of automotive chips.

In 2022, the automotive chip issue began to ease up, paving way for the sector to come to normalcy. Tata Motors, Maruti Suzuki and other automakers could see an increase in sales last year.

A Further Growing Sector:

India is home to 1.4 billion people, and its population is expected to outstrip China sometime this year and continue growing until the early 2060s. Incomes are rising as well.

Only 8.5 per cent of Indian households owned a passenger vehicle in 2021, according to British research firm Euromonitor, meaning there is plenty of room for sales growth. The government has started offering subsidies for EVs amid a trade deficit resulting from petroleum imports.

China Is At The Top, Way beyond The World:

In 2021, China continued to lead the global auto market, with 26.27 million vehicles sold. The US remained second at 15.4 million vehicles, followed by Japan at 4.44 million units.

Downfall of Japan's Auto Sales:

Japan’s auto sales had hit an all-time high of 7.77 million units in the year 1990. The sales have fallen by almost half ever since. And given the country’s dwindling population, there’s little chance of sales to rebound significantly in the future or anytime soon. Japan surpassed by China as the second-largest vehicle market in 2006. China further achieved good growth in the sector and overtook the United States to acquire the top slot for global market size in 2009.

Union Minister Narendra Singh Tomar Inaugurated ‘North East Krishi Kumbha-2023’

07 January 2023
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Union Minister Narendra Singh Tomar Inaugurated ‘North East Krishi Kumbha-2023’

Union Minister of Agriculture and Farmers' Welfare Narendra Singh Tomar inaugurated the three-day 'North East Krishi Kumbhar-2023' and took part in the 49th Foundation Day celebration of the ICAR Research Complex for NEH Region, Umiam. The Minister inaugurated the administrative cum academic block office and Girl’s Hostel of the College of Agriculture at Kyrdemkulai, Ri Bhoi district.

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Union Minister Narendra Singh Tomar Inaugurated ‘North East Krishi Kumbha-2023’- Key Points

• The Union Minister noted that the Northeast is the heaven of India and Meghalaya's geographical scenario can be developed further with more efforts.
• He also noted that the farmers and farming should always be treated with honor.
• A farmer not only supports his family but also contributes to the agricultural economy of the country.
• The Government's priority has always been to ensure the prosperity of farmers and the development of agriculture.
• India is now not only a food-producing nation but also an export.
• Live demonstrations and exhibitions of recent technologies through 102 stalls by the host Institute and its regional centers were the highlights of the North East Krishi Kumbha 2023.

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About North East Krishi Kumbha 2023

A contingent of 26 persons comprising farmers adopted by ICAR local entrepreneurs, members of the Agri-business Incubation Centre, and representatives of farmers' producer organization from various districts of the stage bound for 'North East Krishi Kumbha 2023 was flagged off.

The team will participate and showcase different types of indigenous Agri products like Chakhao, Kachai Lemon, Tamenglong Orange, Sirarakhong, Chilli, King Chilli, and processed products including value-added products. The North East Krishi Kumbha 2023 was held at ICAR Research Complex for NEH Region, Umiam, Meghalaya from 4th January to 6th January 2023.

Chennai, Southern cities have highest rates of women employment

07 January 2023
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Chennai, Southern cities have highest rates of women employment

Chennai tops in rate of women Employment

According to a survey by Avtar, a company that specializes in workplace inclusion, Chennai is India's top city for women's employment. Pune, Bengaluru, Hyderabad, and Mumbai are the next best cities for women's employment.

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South Indian states tops in Highest rates of women employment: Avtar Survey

• According to criteria that support an ecosystem that is favourable for women's employment, the research ranks 111 cities.
• The remaining Top 10 cities for women's employment are Ahmedabad, Visakhapatnam, Kolkata, Coimbatore, and Madurai; each has a population of over a million people.
• In another group of cities with a population under one million, Tiruchirappalli, Vellore, Erode, Salem, Tirupur, Puducherry, Shimla, Mangalore (officially Mangaluru), Thiruvananthapuram, and Belagavi are the top 10 cities.
• The top five state averages in the nation were achieved by Karnataka, Tamil Nadu, Maharashtra, and Himachal Pradesh.
• In addition to index scores, the study took into account actions governments and communities had taken in the previous year to empower women. It looked at important diversity initiatives needed to boost women's employment rates.

[caption id="" align="aligncenter" width="672"] Findings of Avtar Study: Best and Worst Cities for Women Employment[/caption]

Assessment of Women Employment

The first national effort to provide a data- and evidence-based assessment of the state of women's inclusion in cities is represented by this report. According to a survey, it is crucial to turn cities into areas that women may freely navigate in order to pursue their professional and financial independence aspirations.

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Region wise Indian States in Women Employment

Delhi, Srinagar, and Amritsar are the top three cities in north India. The top three cities in the south are Chennai, Bengaluru, and Hyderabad. Dhanbad, Patna, and Kolkata are the top three cities in the eastern area. Pune, Mumbai, and Ahmedabad take top, second, and third place, respectively, in the western area. The top three spots in the central area are held by Raipur, Indore, and Bhopal.