Top headlines: Govt tries to revive mobile mkt, setting up GSTAT, and more

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Chinese companies may have to exit sub-Rs 10,000 mobile market

The government is busy strategising ways to revive the domestic mobile device industry as Chinese firms have grabbed a large chunk of the handset market. The idea is to minimise competition from Chinese mobile players in the entry level or sub-Rs 10,000 category, according to a senior government official familiar with the plans. Read more...

Trade settlement in rupee: Fearing sanctions by West, banks seek clarity

Banks have raised concerns over the new international trade settlement in rupee, fearing that facilitation of such a mechanism could result in them facing the ire of economic sanctions by the West, people aware of the matter said. Read more...

Setting up GSTAT: GoM may pitch for easing eligibility for states' officers

The high-level ministerial panel on Goods and Services Tax Appellate Tribunal (GSTAT) may decide on inclusion of state representation and ease qualifications for technical members of the appellate tribunal. It may take up the matter in its upcoming meeting on August 17. Read more...

Ford's Sanand plant buy to help Tata Motors consolidate EV position

Tata Motors’ buyout of Ford India’s Sanand plant will strengthen the company’s position as a market leader in the electric vehicle (EV) market and help accelerate volume ramp-up in a cost effective way and bolster its EV ambitions, said analysts. The Tata Group flagship corners 80 per cent share in the e-passenger vehicle market and it’s looking at a 5x jump in sales by end of next financial year. Read more...

July equity flows hit nine-month low of Rs 8,898 crore, shows data

Equity-oriented mutual fund (MF) schemes received net inflows of Rs 8,898 crore in July — the lowest since October 2021 — and half of average monthly inflows received during the first half of the calendar year. Industry players blamed volatile market conditions and profit-taking for the sharp decline in net inflows. Read more...