The domestic automotive industry has crossed Rs 20 lakh crore mark in FY24 and has the potential to be worth $1.6 trillion (about Rs 134 lakh crore) by 2047, driven by electric vehicles (EVs), according to industry leaders.

The automotive industry in the country is poised to be one of the key growth engines in towards achieving a $32-trillion GDP by 2047, according to Pawan Goenka, Chairman of IN-SPACe at the Department of Space.

Addressing the Automotive Component Manufacturers Association (ACMA) event in the national capital, he said that the automotive industry has the potential to contribute $1.6 trillion by 2047.

The new iPhone maker has added groundbreaking health features to its newly launched Apple Watch which will deliver sleep apnoea notifications, while its AirPods Pro 2 will feature the world’s first all-in-one hearing health experience.

Apple Watch Series 10 and AirPods Pro 2 were launched globally at Apple's “Its Glowtime” event on Monday at Apple Park, California.

“With Apple Watch, we continue to offer our users the ability to uncover important health conditions with new sleep apnoea notifications. And on AirPods Pro, powerful features put users’ hearing health front and centre, bringing new ways to help test for and receive assistance for hearing loss,” said Sumbul Desai, MD, Apple’s vice president of Health, in a statement.

The sleep apnoea detection feature is a first for the Apple Watch, beginning with the Series 10 model. It will be supported on Apple Watch Series 9, Apple Watch Series 10, and Apple Watch Ultra 2.

More than 250 companies from 24 countries are set to participate in the ‘Semicon India 2024’ event in Greater Noida from September 11-13, showing the country’s growing presence in this critical sector, the government has said.

According to the Ministry of Electronics and IT, these companies span the entire semiconductor supply chain, from equipment manufacturers to fabs, presenting a significant opportunity for business-to-business interaction and forging new partnerships.

Akash Tripathi, CEO of the Indian Semiconductor Mission (ISM) said the mega event will provide a platform for all major semiconductor supply chain players.

Kia has ranked first among automotive brands operating in India in terms of overall customer experience, the South Korean company said on Tuesday, citing local industry data.

Toyota and Tata Motors came in second and third, with 45.83 per cent and 44.35 per cent, respectively.

According to Kia, the company ranked first, with a score of 45.84 percent, in the overall customer experience index survey conducted by the Federation of Automobile Dealers Associations of India (FADA) recently, reports news agency.

Apple revenues in India are likely to grow 18 per cent (year-on-year) in 2024 and the new iPhone 16 series would help the company further solidify its presence in the country, along with boosting its exports figures, industry analysts said on Tuesday.

“Apple has 6 per cent share by volume and 16 per cent by value in India. The double-digit growth will continue, with revenues expected to cross the $10 billion mark in 2025 in the country,” Counterpoint Research Director Tarun Pathak told.

With the iPhone 16 series, available in India from September 20 with attractive financing options, the analysts expect a healthy mix of upgrades this year for Apple in the country.

Buoyed by the ‘Make in India’ initiative and the production-linked incentive (PLI) scheme, iPhone production in India has gone up from less than 1 per cent in 2017 to 10 per cent in 2023 and plans are to scale it up to 25 per cent of global shipments by 2025, according to global investment firm Jefferies.

With the introduction of the mobile PLI scheme, alongside with global supply chain diversification, are driving the surge in Apple’s local manufacturing in India, the latest report mentioned.

The tech giant was prepared for launching latest iPhone 16 Pro and Pro Max models in the country post the global debut on Monday. The company is set to make its ‘Make in India’ iPhone 16 Pro and 16 Pro Max models available in the country right after the launch.

As road infrastructure and connectivity significantly improved in the last 10 years under the Prime Minister Narendra Modi’s vision, the global hospitality majors are strategically expanding their presence by developing hotels near major highways and key service stations, providing travellers with convenient and comfortable options for stays, industry leaders have said.

The government has enhanced its capital expenditure on infrastructure projects such as roads, railways and airports from Rs 1.97 lakh crore (1.6 per cent of GDP) in FY2014-15 to Rs 11.1 lakh crore (3.4 per cent of GDP) in FY2024-25.

The infrastructure development has seen unprecedented progress over the past decade, driven by substantial capital spending from both government and private sectors.

According to Dimitris Manikis, President EMEA, Wyndham Hotels and Resorts, the government's mega infrastructure push, particularly highway development, offers significant growth opportunities for the hotel industry.

A temperature increase of 2 degrees Celsius could cut $6 trillion from the value of the S&P 500 index, in addition to the devastating environmental and social consequences, a report warned on Monday.

Slowing momentum on sustainability could come with a tangible cost, according to new research from Bain & Company, that pointed to a sharp decline in CEOs’ relative prioritisation of sustainability, as AI, growth, inflation, and geopolitical uncertainty have risen to the top of their agenda.

“The transition to a sustainable world is following a familiar cycle. As the challenge of meeting bold commitments becomes clear, many companies are rethinking what is achievable and on what timeline. But slowing progress would be a mistake,” said Jean-Charles van den Branden, Bain’s global Sustainability practice leader.

After the sharp reduction in import duty announced in the Union Budget, the revenues of organised gold jewellery retailers will increase 22-25 per cent this fiscal (year-on-year) — a solid 500-600 basis points (bps) more than the 17-19 per cent expected earlier, a report showed on Monday.

The incremental growth will be driven by higher volumes even as retail gold prices come down from their lifetime highs, according to Crisil Ratings.

The sudden price decline could lead to some inventory loss on existing stock, though its impact would be partially mitigated as improved demand limits spending on marketing and promotional campaigns.

Zoho CEO Sridhar Vembu on Monday said the company is taking aggressive steps to open offices in rural areas.

Vembu said this, even as the Chennai-based SAAS company opened another office in a rural area of Tamil Nadu.

The new campus launched in Tharuvai in Tirunelveli district, adds to other major centres in southern districts: Mathalamparai in Tenkasi, and Kappalur in Madurai.

“I love this new campus!” Zoho chief posted on social platform X, while noting the company’s expansion to the Kumbakonam area in Thanjavur district.