The President and Managing Director of the Volvo group, India, Mr Kamal Bali joined NewsX for an exclusive round of interview. Mr Bali has a distinguished career traversing over 3 decades, predominantly in the automobile division.
He addressed what a stressful and unprecedented sort of situation the ongoing coronavirus pandemic has created for the automotive industry. “This pandemic came out like a bolt from the blue and no one was prepared for it and especially our industry, the automotive industry which was already reeling under a demand slowdown towards the end of last year”.
Mr Bali was looking for better times with a lot of optimism, especially with the new emission norms coming in and lots of new models which were to come in for the entire auto industry. He told how the automotive industry’s slowdown impacts the entire country. “It was very big of a U-turn for the auto industry, it accounts for 7-8 per cent of our GDP, so it is a big jolt to the country and to the whole economy as such”.
Mr Bali believes that in terms of numbers, the recovery in the sector will be very slow. “The reason is that the industry was already going through a slowdown as I mentioned and in the current financial year 2020-21. There are estimates of different kinds but its likely that the industry will see a further contraction of between 25-35 per cent”.
According to Kamal Bali, it’s very difficult to say that what exactly they will end at because it will depend on the pathways of the pandemic. “How it does, how as an industry and how as a society we come in terms with. As ultimately, itsalso a question of lives and livelihoods”. So he thinks that its going to be challenging but he is still optimistic.
“Seeing numbers in June, there has been some improvement over May. May to June has been a huge, a positive reinforcement, which is good news for the industry even though it is much much lower than the June of last year”. So he thinks that there are some positive things but he also thinks that a lot more can be done. “Of course, it won’t be business going forward as usual but, a lot of other factors are going to come into play but I think if we can get a good fiscal stimulus, this industry can bounce back sooner than we expect”.
The Volvo President appreciates the limited elbow room, the finance minister had, and he thinks that despite that, she did a wonderful job. “I think the supply side thing was largely addressed, a lot of liquidity and monetary measures have been taken for the economy as a whole and also, addressing several vulnerable sections of the society and economy including the MSMEs and people at the economically weaker sections of the society, having said that I think the demand side also needs to be looked at now, this is the right time”.
He further said, “I think as the supply side is getting addressed, as factories have started manufacturing and remanufacturing, now, we have come to levels of 50-60 per cent of our original pre-COVID levels. I think now is the time when we also need a demand stimulus because discretionary demands have gone down. Since the economy is not at its full throttle the demand is not there”.
Mr Bali feels and what according to him the industry would like is four or five key things. “One is, a temporary reduction in the GST rates, things like trucks and buses fall under the luxury rate of tax which is 28 per cent GST. If this can be brought down to 12 or 18 per cent, if not permanently then at least for the next 6 months”.
He thinks that this can be a big boost because in any case, the industry has to spend more cost on the vehicles because of “transition from BS 4 to BS 6”. So this cost probably cannot be passed on fully to the customer as there are weaker sentiments in the marketplace.
So, if this reduction in the GST can be done temporarily, just to jump-start the economy, that’s one. The customers would be excited and they would like to look at the possibilities. “The second thing is lower interest rates, if some subventions can go on from typically 9 to 10 per cent to 6 per cent, I think that would be a big booster”.
According to Mr Kamal Bali, the third thing which could be the game-changer for the industry is the “scrap pitch policy”. He said, “So if they can decide on a 15-year or an 18-year scrappage policy, I think that could be a game-changer for the industry”.
Talking about the “Aatm nirbhar” campaign of Prime Minister Narendra Modi, Mr Bali called it a phenomenal initiative. “We completely support it. I think this gives very very good confidence to the industry and the society at large. If you look particularly at the automotive industry, we are in a large way self-reliant. Our industry as such is well matured. There are still some gaps, which of course we will, if global companies can start doing more and more work in India, I think we can fulfil the dream of aatmnirbhar Bharat”.
He said that as far as Volvo is concerned, they are fully committed to India. “We have been serial investors in India. In fact, over the last 20 years, we have made serial investments”. Mr Kamal shared an anecdote about a venture Volvo made with Eicher motors. “Eicher motors, which is a very very successful joint venture as well. So we believe in the India story and we believe that India is the market which is going to grow. There can be a temporary pause because of pandemic and because of certain other structural reasons. But I think, our trajectory, our direction is spot on”!
He thinks that they need to make the supply chain more integrated with the global supply chains. “I think the industry will respond to the clarion call of the Prime Minister for making India aatmnirbhar”. On behalf of the Volvo group, he said that Volvo group is completely committed and will do whatever is required in the interest of the country as well as the group itself.
The Daily Guardian is now on Telegram. Click here to join our channel (@thedailyguardian) and stay updated with the latest headlines.
For the latest news Download The Daily Guardian App.
OVER 5 CRORE TIRANGA SELFIES CLOCKED AS PART OF HAR GHAR TIRANGA CAMPAIGN
More than five crore Tiranga selfies have been uploaded on the ‘Har Ghar Tiranga’ campaign website so far, the Ministry of Culture informed on Monday and termed it a “stupendous achievement”. Prime Minister Narendra Modi had given a call on 22 July 2022, to join the Har Ghar Tiranga’ movement by hoisting or displaying the national flag at homes.
“In a stupendous achievement, more than five crore ‘Tiranga’ selfies have been uploaded on the ‘Har Ghar Tiranga’ website,” the ministry of Culture said in a statement.
As India embarks on its 76th year of Independence, wrapping up the 75-week countdown to 15 August 2022, was the ‘Har Ghar Tiranga’ initiative of the government driven by the nodal ministry for ‘Azadi Ka Amrit Mahotsav’ the Ministry of Culture.
The commemoration of 75 years of independence started on March 12, 2021, as a 75-week countdown to 15 August 2022, and will continue till 15 August 2023.
Indian Missions under MEA screen short film on Sri Aurobindo
Indian Missions abroad under the Ministry of External Affairs (MEA), including the Embassy of India, Paris, India in UK, CGI Birmingham, Switzerland, Colombia and Ecuador, Permanent Delegation of India to UNESCO and Bahrain, screened the short film titled ‘Sri Aurobindo: The Beginning of Spiritual Journey’ on 15th August 2022, which also marked the 150th birth anniversary of Sri Aurobindo. Directed by award-winning Indian filmmaker Suraj Kumar, the short film is based on a screenplay by Manish Kumar Pran. The film stars Vikrant Chauhan in the titular role.
Based on Sri Aurobindo Ghose’s prison life (1908-1909), the short film was shot in Alipore Jail, Kolkata, from where Sri Aurobindo’s spiritual journey had started. Sri Aurobindo was arrested for conspiracy on 5th May 1908 and spent a full year in Alipore jail while the British government, in a protracted court trial, tried to implicate him in various revolutionary activities. It came to be known as the Alipore Bomb Case. He was finally acquitted and released on 6th May 1909.
‘Sri Aurobindo: The Beginning of Spiritual Journey puts the spotlight on an important chapter of Sri Aurobindo Ghose’s journey that often gets overlooked when one talks about his exemplary life and work. Sri Aurobindo was also a renowned freedom fighter and was accused of bombing a series of British nationals as a leader of Anushilan Samity. However, in Alipore central jail, while being accused of the Alipore conspiracy, he had a change of mind and became a philosopher and spiritual guru till his death in 1950 in Puducherry.
“While Sri Aurbindo Ghose was lodged in jail, his spiritual transformation started just after 2-3 days of prison life. My short film ‘Sri Aurobindo: The Beginning of Spiritual Journey’ documents his beginning of spiritual journey in Alipore jail,” reveals Suraj Kumar. Speaking about the film’s conception, he adds, “The idea of making the short cropped up when one of my IIMC friends and prison reformer Dr. Vartika Nanda discussed it with me, back in early 2021. Subsequently, I visited the National Library of India in Kolkata to document and record the news articles published related to Sri Aurobindo’s imprisonment. “
Sri Aurobindo Ghosh was one of the first few leaders who demanded complete independence from the British Raj. He is said to have proposed the concept of ‘Purna Swaraj’, 20 years before the Indian National Congress. He advocated the use of Swadeshi products, non-cooperation, and passive resistance to achieve the goal. After being a part of the Independence movement from 1902 to 1910, he shifted to the French colony of Puducherry, where he set up an ashram and worked for the development of ‘internal Yoga.’ He authored several works, including The Synthesis of Yoga, The Life Divine, The Ideal of Human Unity, and The Human Cycle, among others.
‘Sri Aurobindo: The Beginning of Spiritual Journey’ will be screened in various schools and colleges all across the country over the next one year.
WHAT MAKES NAVROZ A SPECIAL OCCASION FOR PARSIS
Navroz, which is the Parsi New Year, was celebrated on 16th August this year . The day is dedicated to the beginning of spring and to promoting peace, solidarity, and friendship among people and different communities.
The Navroz celebration is believed to date back to the time when Prophet Zarathustra founded Zoroastrianism, one of the earliest known monotheistic religions in the world, in Persia (now Iran). It was one of the most important religions in the ancient world until the emergence of Islam in the seventh century.
During the Islamic invasion of Persia, several Persians fled to India and Pakistan. Since then, their festivals have become a part of Indian festivities and are celebrated by people from diverse cultures.
Navroz marks the first day of Farvardin, the first month in the Zoroastrian calendar, also known as the Shahenshahi calendar.
For followers of Zoroastrian philosophy, this day represents the time when everything in the universe is completely renewed. Jamshed, a monarch of the ancient Sasanian Empire, is credited with introducing the Parsi calendar. Hence, this holiday is also called Jamshed-i-Nouroz.
Across the world, Navroz is celebrated at the time of the vernal equinox, around 21 March. However, Parsis in India follow the Shahenshahi calendar, which does not recognise leap years. This is why the Parsi New Year in India is celebrated almost 200 days after it is celebrated across the world.
On this occasion, Parsi families across India, especially in the states of Maharashtra and Gujarat as they have a sizeable Parsi population, visit the holy temples to offer prayers.
They also prepare traditional Parsi dishes like Farcha, Berry Pulao, and Jardaloo Chicken, among several other things. Parsis also believe it to be a day of remittance of sins and a time for repentance.
The filched Indian Gems
Over time, theft of Indian antiquities and diamonds has robbed India of its demarcation as the “Golden Bird,” or Sone Ki Chidiya. Many ancient artefacts vanished when India was still a colony. Here are some of the listed items:
The renowned Mughal Peacock Throne of Allaudin Khalji was the owner of the Koh-i-Noor. Diamond experts from all around the world refer to it as the “Mountain of Light.” Following the establishment of the East India Company by the British in India in 1849, it was given to Queen Victoria. It is currently kept in the Tower of London’s Jewel House.
The Ring of Tipu Sultan
Tipu Sultan was defeated by the British in a fight in 1799, and after his death, the colonisers took his sword and ring. The ring, which Vijay Mallya had spent a lot of money on, was sold at auction by the British in 2014 for £145,000, while the sword was given back to India.
The wine cup of Shah Jahan
Colonel Charles Seton Guthrie stole the wine cup that belonged to the Mughal Emperor Shah Jahan in the early 19th century and sent it to Britain. The wine cup was donated to the Victoria and Albert Museum in London in 1962, where it is currently displayed.
The Peacock Throne
A well-known peacock throne has also been taken. According to legend, it served as the sear of the Mughal emperors who conquered North India. This throne was previously located in Delhi’s Red Fort. Shah Jahan, an emperor in the 17th century, constructed this throne specifically for him. This throne was removed by the Persian King Nader Shah in the year 1739.
The marble idol of Sarswati
The goddess’s marble statue was inscribed in the year 1034 AD. This was the most priceless statue in Madhya Pradesh’s Bhojshala Temple. The statue was eventually misplaced, and in 1886 it was mysteriously discovered in the British Museum.
The battle without the gun
The 5th Generation Warfare is a covert attempt to paralyse a nation and a battle not on the ground but of strategies to discredit and stymie its growth.The well-described Sun Tzu Strategy is unquestionably proving to be a great approach to debilitate the growth of any country, which lists down five agendas, i.e.,win all without fighting; avoid strength, attack weakness; deception and foreknowledge; speed and preparation; shape your opponent; and character-based leadership.
Daniel Abbot defines the 5th Generation Warfare as the war of “information and perception” which calls for tactics like social engineering, misinformation and cyber attacks, artificial intelligence and autonomous robots.
The tactic of psychological manipulation in order to decay the intellect, breach privacy, or fleece the people of a country is what can be called social engineering. In recent times, there have been instances where foreign powers have adopted certain methodologies, including baiting, scareware, pretexting, phishing, and spear phishing, to rob the nation.
Deliberately spreading deceptive and misleading information in order to influence actions and the entire persona in long run is a commendable tactic to vanquish the enemy nation. Be it fuelling political agenda or be it triggering extremism, misinformation has a vital role to play.
We need to outsmart the strives of the foreign nations to uproot the culture of our country with subtle poisoning of technology along with Cyber attacks and look beyond petty affairs to see the wider picture.
Indian Embassy in Madagascar decks up with tricolour lights
As India is celebrating Independence Day on Monday, the Indian Embassy building in Madagascar’s capital, Antananarivo was seen in the Indian tricolour lights. Meanwhile, Town Hall in Antananarivo also lit up in tricolour on the eve of the 76th anniversary of Independence Day of India.
To commemorate the spirit of Independence, the Embassy of India will organise a flag hoisting ceremony on Monday at the Embassy residence Villa Tanana Finaritra, Analamahintsy, Ivandry. “All members of the Indian community and friends of India are invited to join the celebrations,” the Indian Embassy tweeted.
India and Madagascar share a strong relationship. India is a key trade partner of Madagascar with bilateral trade reaching about 400 million USD in 2020-21.
The ties between the two Indian Ocean neighbours are growing in all spheres. The two countries share healthy and strong ties which are on an upswing and several MoUs in key areas such as health, education, culture, information, and travel have been signed between the two countries.
Meanwhile, in India, Prime Minister Narendra Modi on Wednesday said the Indian national flag does not contain only three colours in it but is a reflection of the pride of our past, our commitment to the present, and our dreams of the future.
Addressing a tiranga rally in Surat via video conferencing, PM Modi recalled that in a few days’ time, India is completing 75 years of its independence and said that all of us are preparing for this historic Independence Day as the Tricolour is hoisted on every corner of the country.
Opinion2 years ago
South Block’s mistakes will now be corrected by Army
Sports2 years ago
When a bodybuilder breaks Shoaib’s record
News2 years ago
PM Modi must take governance back from babus
Spiritually Speaking2 years ago
Spiritual beings having a human experience
News2 years ago
Chinese general ordered attack on Indian troops: US intel report
Legally Speaking2 years ago
Law relating to grant, rejection and cancellation of bail
Royally Speaking2 years ago
The young royal dedicated to the heritage of Jaipur
Sports2 years ago
West Indies avoid follow-on, England increase lead to 219