INDIAN MARKET

Global carmakers Tata Motors launched its new Tiago EV hatchback in India at Rs 8.49-11.79 lakhs, on September 29. The newly designed car is third in the electric PV market. The bookings for the new Tiago EV will begin from October 10, with a booking cost of Rs 21,000, only for the first 10,000 bookings, of which 2,000 will be reserved for customers with two EV models of Tata.

The rupee depreciated 40 paise to an all-time low of 81.93 against the US dollar in early trade on September 28. With this fall, the American currency strengthened and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite. In addition, at the interbank foreign exchange, the rupee opened at 81.90 against the greenback.

Indian multinational conglomerate Tata Group is in talks with a Taiwanese supplier to Apple Inc. to establish an electronics manufacturing joint venture in India. The company is seeking to assemble iPhones in the South Asian country, for Indian markets. As per local media, Wistron, a supplier to Apple, will establish an electronics manufacturing joint venture in the country along with the Tata Group. Official confirmation is awaited.

The Union minister said, India's gold demand went up by 43% during the April-June quarter, which stood at 170.7 tonnes, higher than the previous 119.6 tonnes. However, considering the inflation factors ahead, including Rupee-USD rates and policy measures consumer sentiments could be hurt, as prices could go up. Notably, India's gold demand increased by 54% during the second quarter to Rs 79,270 crore, compared to Rs 51,540 crores.

The Royal Enfield Hunter 350 will be available in the Indian market by the second week of August 2022. The Hunter 350 will most likely share the Meteor 350's structure and engine. The same J-platform and 348 cc single-cylinder engine will be used. It is projected to be priced in the range of an entry-level motorcycle, with a price tag of roughly Rs 1 lakh.