
PKL Auction 2025: Pawan Sehrawat sold to Tamil Thalaivas for 59.5 lakhs
Indian skipper Pawan Kumar Sehrawat was bought for Rs. 59.5 lakhs crore by Tamil Thalaivas on Thursday during the Pro Kabaddi League Auction 2025 in Mumbai.
In season 10's auction, Sehrawat became the most expensive player in the history of the PKL when Telugu Titans bought him for Rs. 2.605 crore.
The India captain ended the PKL 10 season with the third-most raid points (202), but Titans finished at the bottom of the table with 21 points and failed to make the playoffs.
Last season, Titans used its FBM (Final Bid Match) card to retain the all-rounder for 1.725 crore.
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Time of India
10 minutes ago
- Time of India
As Tesla snubs overtures, govt opens lower duty regime to brownfield investments in EV manufacturing
Now that it is abundantly clear that Elon Musk is not keen to manufacture Tesla electric cars in India, the government has finally released the guidelines of a policy aimed at attracting global OEMs to make electric passenger cars in India. The policy, called Scheme for Promotion of Manufacturing of Electric Passenger Cars in India (SPMEPCI), was notified in March last year but the guidelines (without which no applications seeking benefits under this policy could have been submitted) took nearly 15 months to be finalised. And though no official in the ministry of heavy industries admitted that the policy and subsequent guidelines were waiting for Tesla's green light, there had been enough indications that Tesla was indeed the principal intended beneficiary of this policy. The policy, SPMECPI, allows OEMs to avail a concessional import duty of 15per cent on CBU imports of high value cars, in lieu of a commitment to manufacturing and sourcing in India. Initially, the policy was only meant for foreign OEMs, but after vociferous protests from Indian manufacturers including Maruti Suzuki India, Tata Motors and others, brownfield investments have now also been included in the policy. This means any fresh investments - by foreign or local OEMs - in making electric passenger cars in India will be eligible for import duty sops. This requirement is designed to promote indigenous capabilities and reduce reliance on importsDhiraj Agrawal So will Vietnamese OEM Vinfast be eligible for concessional import duty regime for its investments in manufacturing in the country, which were mad before the policy guidelines were finalised? This remains to be seen. The guidelines issued today make it clear that for brownfield investments, there should be clear demarcation from any existing manufacturing facility. In other words, only new lines/manufacturing plants will be eligible under SPMECI. Also Read: VinFast eyes premium EV space in India, downplays competition with Tesla Here are the salient features of the policy guidelines: -Minimum Investment needed to qualify is ₹4150 crore, within three years of an OEMs' application having been approved. Investment areas include new plant, machinery, engineering R&D etc. Manufacturing must begin within three years. -Domestic Value Addition (DVA): Minimum DVA of 25per cent within three years and 50per cent within five years. The DVA criteria will be assessed as per the SOP issued under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry. This move aims to attract long term capital, encourage technology transfer, and build a robust domestic EV ecosystemRohan Dewan -Import Duty Concessions: Import of Completely Built Units (CBUs) of e-4Ws with a minimum CIF (Cost, Insurance, and Freight) value of $35,000 will be allowed at a reduced customs duty of 15per cent , but only for 8,000 units per year for five years. -Eligibility: Applicants must have a minimum global group revenue (from automotive manufacturing) of ₹10,000 crore and a minimum global investment in fixed assets (gross block) of ₹3,000 crore. Also Read: VinFast India to inaugurate its Tamil Nadu factory on July 30 Policy could boost local sourcing: Dhiraj Agrawal, Chief Business Officer at Mufin Green Finance, said that to ensure the development of a robust local supply chain, SPMEPCI mandates that participating manufacturers achieve 25per cent domestic value addition within three years and 50per cent within five years. 'This requirement is designed to promote indigenous capabilities and reduce reliance on imports'. And Rohan Dewan, Co-Founder and CEO of LeafyBus, said that by reducing import duties to 15per cent for electric vehicles priced at $35,000 and above, 'the government is sending a clear signal to global EV manufacturers. The policy requires a minimum investment of 4,150 crore rupees, or approximately 500 million US dollars, to set up manufacturing facilities in India within three years. This move aims to attract long term capital, encourage technology transfer, and build a robust domestic EV ecosystem.' But another industry leader said that the SOPs have been drafted to primarily benefit foreign OEMs instead of helping local ones. For one, the high bar for entry - requiring global revenue of ₹10,000 crore from automotive manufacturing and a global investment in fixed assets of ₹3,000 crore can only be met by large, established international automotive players. It may make smaller local EV OEMs ineligible. Also, the import duty reduction is applicable only on high value CBUs and appears to be incentivising global OEMs to test market their high-end EV models in the Indian market. How will this incentivise local OEMs? One thing is sure. If the policy attracts any significant number of applications from global OEMs, local ones like Maruti, Mahindra & Mahindra, Tata and also local units of Hyundai Motor Co and Toyota etc will have to face increased competitive intensity.


Economic Times
11 minutes ago
- Economic Times
India's index-linked bonds see record foreign selling in May on profit-booking, currency swings
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News18
13 minutes ago
- News18
Here's Why FSSAI Is Warning Food Brands Against Using ‘100%' Claims On Labels
Last Updated: The FSSAI has issued a warning to food businesses against using misleading '100%' claims on their packaging, labels, or advertisements. Read on to find out why. The Food Safety and Standards Authority of India (FSSAI) warned food businesses against using '100 per cent' claims on their packaging, labels and advertisements. The regulatory body issued the statement as many companies were promoting their products like '100 per cent natural', '100 per cent pure' and '100 per cent organic'. In the FSSAI notice dated May 30, 2025, the food body pointed out that the term 100 per cent is not recognised under the Food Safety and Standards Act of 2006 or the Food Safety and Standards (Advertising and Claims) Regulations of 2018. They said the phrasing could mislead consumers and rig the market competition. On surface '100 per cent' sounds reassuring, however, could be deceptive. An NDTV report stated that many fruit juice products are labelled as '100 per cent juice', however, it is made from fruit concentrate mixed with water rather than fresh juice. The report added that the phrasing created a perception of absolute purity or exceptional quality which may not reflect the actual product content. The consumers, the agency said, focus on bold claims made on the front label but ignore fine print on the back while making quick purchasing decisions. The FSSAI said such marketing tactics not only mislead consumers but also place competing products at a disadvantage, especially those that are truthful and not marketed aggressively. According to the report, sub-regulation 4(1) of the Advertising and Claims Regulations, 2018, all claims made on food products should be truthful, unambiguous, not misleading, and should help customers comprehend the product information clearly. Additionally, sub-regulation 10(7) prohibits any claim or advertisement which distorts consumer perception or unfairly disparages other products. Reportedly, FSSAI said that these '100 per cent' purity claims often fail to meet the aforementioned conditions, potentially breaching existing advertising regulations. As per another CNBC report, the regulatory body has urged food businesses to refrain from using '100 per cent' in any labelling, branding, or promotional content unless it is verifiable and clearly defined. The objective is to maintain open communication while safeguarding consumer rights and ensuring equitable practices in food advertising. This advisory serves as FSSAI's renewed pledge to combat misleading marketing while fostering informed dietary decisions among Indian consumers. First Published: June 02, 2025, 16:15 IST