Growth

Apollo Tyres Limited's revenue for the second quarter of the financial year 2021-22 increased by 18% to Rs 5,077 Crore compared to the first quarter. Reportedly, the company had registered Rs 4295 in the last quarter, making the total Rs 9,662 crore for the half of FY21. ''We've seen a robust demand...which is visible in the healthy revenue,'' said Onkar Kanwa, Chairman of the company. 

The Automobile industry has seen positive growth of 34.2% in July 2021 than July 2020, according to the Federation of Automobile Dealers Association (FADA). Last year in July 2020, people purchased 11.6 lakh vehicles and now it has increased to 15.56 lakh vehicles. The commercial vehicles sales increased by 166%, followed by 83% in a three-wheeler, 63% in passenger vehicles, and 27% in a two-wheeler, and 6% in tractors.   

The International Monetary Fund has projected India’s growth rate higher than China for 2021. Extrapolating India’s growth at 12.5% for this year, the Washington-based body expected Indian economy to grow at 6.9% in 2022. Moreover, projecting 8.6% growth rate for China in 2021, the IMF, in its World Economic Outlook report estimated 5.6% growth for dragon in 2022. Interestingly, China was the only country to have positive growth rate in 2020… read-more

The World Bank Chief Economist for South Asia Hans Timmer has stated that though the Indian Government's effort with limited resources was commendable, the Indian economy has a “dire outlook” after the impact of the lockdown. A report by the bank mentioned that Indian economy might take a dip by around 9.6% for the fiscal year that started March 2020. However, a regional growth of 4.5% is expected in FY2021.