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- Hero And Zero Join Hands – New Premium Electric Motorcycles
Hero MotoCorp, the world's largest motorcycle manufacturer, and Zero Motorcycles, a California-based premium electric motorcycle and powertrain manufacturer, have announced their collaboration to develop new premium electric motorcycles. This partnership is significant for Hero MotoCorp's electric mobility outreach and aims to transform the EV riding experience and accelerate the transition to electric mobility in India and other global markets. Hero MotoCorp has been expanding its brand growth and moving towards new segments, which is a departure from its reputation as a trusted mass market motorcycle manufacturer. The company is currently evaluating a 421cc engine for its Xpulse 420cc product lineup. On the other hand, Zero Motorcycles is known for its expertise in developing powertrains and electric motorcycles. The collaboration between the two companies will streamline processes and save essential time to help get into a segment/space as an early mover, particularly in the premium electric motorcycle segment. Hero Motocorp's current EV market strengths are focused on the VIDA brand. The company has launched its first EV, VIDA V1 scooter, and public charging infrastructure in Bengaluru, Delhi, and Jaipur. About 300 charging points are set up for public use. In September 2022, Hero MotoCorp's board approved an equity investment of up to US$60 million in Zero Motorcycles. This investment highlights the importance of this collaboration and underscores the companies' commitment to advancing electric mobility and transforming the riding experience. Zero Motorcycles' technology combined with traditional motorcycle design will keep the riding experience at the forefront of design synergies. Hero MotoCorp is committed to introducing remarkable, innovative products that offer exceptional value and performance-based fun in riding. The collaboration between the two companies is a significant milestone for sustainable clean technology in the mobility space. Zero Motorcycles will accelerate the transition to electric mobility in India and other global markets where Hero does business. The scope of this collaboration aligns with Hero's goals of improved exports in existing and new markets. Pawan Munjal, Chairman & CEO, Hero MotoCorp, said, "Our partnership with Zero Motorcycles is a significant milestone in our journey towards ushering in an era of sustainable clean technology in the mobility space. With Zero as our partner, we look forward to accelerating the transition of electric mobility in India and across our global markets."
- India is ‘dangerously close’ to Hindu rate of growth, says Raghuram Rajan
Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged around 4%. ormer Reserve Bank of India governor Raghuram Rajan. File | Photo Credit: B. Velankanni Raj Sounding a note of caution, former Reserve Bank Governor Raghuram Rajan has said that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high-interest rates, and slowing global growth. Mr. Rajan said that the sequential slowdown in the quarterly growth, as revealed by the latest estimate of national income released by the National Statistical Office (NSO) last month, was worrying. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged around 4%. The term was coined by Raj Krishna, an Indian economist, in 1978 to describe slow growth. The Gross Domestic Product (GDP) in the third quarter (October-December) of the current fiscal slowed to 4.4% from 6.3% in the second quarter (July-September) and 13.2% in the first quarter (April-June). The growth in the third quarter of the previous financial year was 5.2%. "Of course, the optimists will point to the upward revisions in past GDP numbers, but I am worried about the sequential slowdown. With the private sector unwilling to invest, the RBI still hiking rates, and global growth likely to slow later in the year, I am not sure where we find additional growth momentum," Mr. Rajan said in an email interview with PTI. Recently, Chief Economic Advisor V Anantha Nageswaran attributed the subdued quarterly growth to the upward revision of estimates of national income for the past years. The key question is what Indian growth will be in fiscal 2023-24, Mr. Rajan said, adding "I am worried that earlier we would be lucky if we hit 5% growth. The latest October-December Indian GDP numbers (4.4% on year ago and 1% relative to the previous quarter) suggest slowing growth from the heady numbers in the first half of the year. "My fears were not misplaced. The RBI projects an even lower 4.2% for the last quarter of this fiscal. At this point, the average annual growth of the October-December quarter relative to the similar pre-pandemic quarter 3 years ago is 3.7%. "This is dangerously close to our old Hindu rate of growth! We must do better." The government, he said, was doing its bit on infrastructure investment but its manufacturing thrust is yet to pay dividends. The bright spot services, he said, adding "it seems less central to government efforts." On a query regarding the production-linked incentive (PLI) scheme, Mr. Rajan said any scheme in which the government pours money will create jobs and any scheme which elevates tariffs on output while offering bonuses for final units produced in India will create production in India, and exports. "A sensible evaluation would ask how many jobs are being created and at what price per job. By the government's own statistics, 15 percent of the proposed investment has come in but only 3 percent of the predicted jobs have been created. This does not sound like success, at least not yet," Mr. Rajan said. Despite India's economic growth, few jobs and meager pay for urban youth Furthermore, even if the scheme fully meets the government's expectations over the next few years, it will create only 0.6 crore jobs, a small dent in the jobs India needs over the same period, the former RBI Governor said.
- India in the Next Decade: Overcoming Challenges in Population, Agriculture, Healthcare, Environment
India is a country with vast diversity and a rich cultural heritage. The nation has undergone remarkable transformation over the last few decades and emerged as one of the fastest-growing economies in the world. However, as India enters the next decade, there are several significant challenges that the country will have to face. In this essay, we will discuss some of the upcoming challenges that India is likely to encounter in the next decade. Firstly, India's population is growing rapidly, and the country is expected to surpass China as the most populous nation in the world by 2027. This population explosion poses a significant challenge to the country as it puts pressure on resources such as water, food, and land. The government will have to take measures to manage this growth and ensure that the population does not become a burden on the economy. Secondly, the Indian economy is still largely dependent on agriculture, which employs around 50% of the population. The sector faces various challenges such as low productivity, lack of modernization, and limited access to finance and technology. In the next decade, India will have to focus on transforming the agriculture sector by promoting sustainable practices, investing in infrastructure, and providing better access to credit and technology. The government has already launched several initiatives such as the Pradhan Mantri Fasal Bima Yojana and the Pradhan Mantri Krishi Sinchai Yojana to address some of these challenges. Thirdly, India's healthcare system is inadequate to meet the needs of the growing population. The COVID-19 pandemic has exposed the weaknesses in the healthcare system, and the government needs to take urgent measures to strengthen it. The country needs to invest more in healthcare infrastructure, expand access to quality healthcare, and improve healthcare financing. Fourthly, India is facing an environmental crisis, and the country needs to take urgent steps to address this challenge. Pollution, deforestation, and climate change are some of the major environmental challenges facing the country. The government needs to take steps to reduce pollution levels, promote renewable energy, and conserve natural resources. Fifthly, India faces several social challenges such as poverty, inequality, and discrimination. The government needs to take steps to reduce poverty levels, promote social equality, and eradicate discrimination based on gender, caste, and religion. The government has already launched several initiatives such as the Swachh Bharat Abhiyan and the Beti Bachao Beti Padhao Yojana to address some of these challenges. Finally, India needs to focus on developing its infrastructure to support economic growth. The country needs to invest in transportation, power, and communication infrastructure to support businesses and attract foreign investment. The government has already launched several initiatives such as the Bharatmala Pariyojana and the Sagarmala Project to address some of these challenges. In conclusion, India is facing several significant challenges in the next decade, and the government needs to take urgent steps to address them. The government needs to focus on transforming the agriculture sector, strengthening the healthcare system, addressing environmental challenges, promoting social equality, and developing infrastructure to support economic growth. By addressing these challenges, India can emerge as a strong and prosperous nation in the coming years.
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