Indian Government Asked to Implement Stricter Fuel Economy Standards
"The fuel economy norms in India are very lacking nature and there has been no movement on the issue," says Anumita Roychowdhury, Associate Director, Center for Science and Environment (CSE). The CSE has urged the government to enforce stricter rules on fuel economy standards in India. There is an Energy Conservation Act in India and the Parliament office has also issued a directive to the Bureau of Energy Efficiency to develop stricter fuel economy standards but the same has not been implemented effectively in India.
"The car industry has got away with self-labelling, without meeting any official standards," reiterated Roychowdhary. There have been ongoing discussions since past three year but no concrete steps have been taken so far. She also stated that the 'Indian small car' market is gradually shifting to mid to large cars which account for 36 percent sales now. This mean the fuel efficiency will still be lower. Moreover, carbon-di-oxide emission from cars accounts for more than half of all CO2 emitted by vehicles. She said the failure to develop fuel economy standards is out of line with the aspiration of developing India as a car manufacturing hub.
[Via: cartrdaeindia]
Yamaha’s Proposal Cleared by the Government
The government cleared 22 foreign direct investment proposals worth Rs. 541.25 crore recommended by the Foreign Investment Promotion Board (FIPB). This includes proposal from Yamaha that included transferring of its Indian sales business to a new entity - India Yamaha Pvt. Ltd.
The Indian subsidiary of Japanese two-wheeler manufacturer Yamaha Motor India Sales Pvt. Ltd. has sought approval of the government to shift its sales operations to a new company which will be a wholly owned subsidiary of Yamaha Motor Co. Japan.
Earlier this proposal was deferred by the Foreign Investment Promotion Board stating that the new company shall promote retail trading. The company later stated that it will not do any retail trading of bikes which helped to clear the proposal from the board.
The FDI proposal cleared by the government also includes proposal from Delhi-based Anant Raj Industries that has been given ex-post facto approval for issuance of warrants converted into equity shares worth Rs. 90.24 crore and Nokia to set up the first single-brand retail joint venture with HCL Infosystems to sell handsets and accessories.
[Via: cartradeindia]
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