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Mint
9 minutes ago
- Mint
Lord Meghnad Desai passes away; PM Modi expresses anguish over demise of renowned economist and author
Lord Meghnad Desai, an eminent economist and House of Lords member, passed away on Tuesday. Prime Minister Narendra Modi expressed anguish over Desai's death, stating how the economist 'played a role in deepening India-UK ties.' 'Anguished by the passing away of Shri Meghnad Desai Ji, a distinguished thinker, writer and economist. He always remained connected to India and Indian culture. He also played a role in deepening India-UK ties. Will fondly recall our discussions, where he shared his valuable insights. Condolences to his family and friends. Om Shanti," PM Modi posted on X, along with a photo of the prominent economist. Born in Gujarat's Vadodara, Meghnad Desai was the emeritus professor of Economics at the London School of Economics. In 1992, Desai established the Centre for the Study of Global Governance at the eminent institution. Sanjeev Sanyal, an economist and member of Prime Minister Narendra Modi's Economic Advisory Council, also condoled Lord Meghnad Desai's death. 'Very sorry to hear that eminent economist Meghnad Desai has passed away. I had known him for over two decades. He was always cheerful and open to new ideas. I will cherish the many long discussions and debates that we had over the years. Om Shanti,' Sanjeev Sanyal posted on X. (This is a developing story. Keep checking for more updates)
India.com
9 minutes ago
- India.com
After Tesla, Chinese car marker BYD to shake up Maruti & Tata! set to launch its most ‘affordable' EV in India at Rs…
BYD, the world's largest electric car manufacturer, is preparing to launch its most affordable electric SUV the Atto 2 in the Indian market. The vehicle is expected to compete directly with models like the Hyundai Creta Electric and MG ZS EV. How Will BYD Takeover Tesla? Elon Musk's Tesla is falling behind BYD (Build Your Dreams) as Chinese auto makers are expanding its global EV portfolio rapidly. In India, it has launched fully electric models like the Atto 3, Seal, Sealion 7, and eMax 7. The company may introduce another new model. The BYD Atto 2 was recently spotted testing on Indian roads so it can be launched soon according to media reports. It is below the Atto 3 and electric SUV will be the most budget-friendly offering in BYD's India lineup. Competitors To BYD In India It was first shown at the 2025 Brussels Motor Show, the Atto 2 goes by different names in different markets, It is known as the Yuan Up in China and Yuan Pro in Brazil. Built on BYD's e-platform 3.0, the Atto 2 measures: Length: 4,310 mm Width: 1,830 mm Height: 1,675 mm Based on its size, it will compete with EVs like the Hyundai Creta Electric, MG ZS EV, Mahindra BE 6, Tata Curvv EV, and the upcoming Maruti Suzuki e-Vitara. Spy images reveal a fully test mule of the Atto 2. However, it appears that the India-spec version will closely resemble its international counterpart. The SUV features are: Signature LED headlights at the front Connected LED tail lamps at the rear A raised rear spoiler with sculpted ends A faux diffuser with silver accents on the lower rear bumper As with the rest of BYD's EV lineup, the Atto 2 comes loaded with modern features, including: A large 12.8-inch rotatable infotainment display in the center of the dashboard An 8.8-inch digital instrument cluster behind a multi-function steering wheel A sleek all-black interior theme in the Europe-spec version Panoramic sunroof, Type-C charging ports, ambient lighting Heated and power-adjustable front seats, and leather upholstery
Mint
9 minutes ago
- Mint
Decathlon plans $3 billion of sourcing from India by 2030
New Delhi: French sports goods retailer Decathlon has announced plans to scale its sourcing from India to $3 billion by 2030. This move aims to serve both the domestic and international markets. Currently, Decathlon's sourcing value from India, both for domestic and overseas markets, stands at $480 million. In terms of volume, India accounts for 8% of Decathlon's global sourcing quantities, with a goal to increase this to 15% by 2030. Additionally, the retailer plans to double its Indian business by 2023. Decathlon currently operates 132 stores across 55 cities in India with plans to expand its retail footprint to over 90 cities by 2030. India has already established itself as one of Decathlon's top-four manufacturing markets. Frederic Merlevede, head of Decathlon production, said, "Our long-term investment in India reflects the deep trust we've built with our partners and the strong potential we see in key categories like footwear, fitness equipment, and beyond." India is already an active part of Decathlon's global manufacturing. For instance, 35% of all umbrellas for global Decathlon are produced in India. Additionally, India accounts for more than 20% of Decathlon's global textile share and is a chosen country for co-developing woven and knit products for worldwide distribution. India is also a major exporter of rugby balls for Decathlon, with 60% of the global supply being 'Made in India'. Currently, Decathlon produces 100 million units of sports goods from India. Over the next five to ten years, the company has outlined plans to increase its focus on the production of footwear, cricket products, technical sports balls, technical textiles, kids' sporting accessories, metal sports equipment, fitness equipment, electronics, technical sports products, alloy-carbon bicycle frames, and swimming inflatables. The company will continue to partner with third-party manufacturers rather than operating its own factories. 'We are diversifying the range of products sourced from India. Across each range there is also an industry behind, so this can really create a big positive impact in terms of job creation. Today we source textile industries such as sports footwear, textiles, polymer injection, wood making of cricket bats, backpacks, outdoor badminton equipment etc. We have scaled across a lot of category of products in India, like backpacks, bicycles, cricket products, badminton, rackets, gloves, socks, caps etc—we feel very confident with the supplier panel we have in India, and the future looks robust for us with all these category of products,' Deepak D'Souza, head of Decathlon India production, told Mint in an interview. Meanwhile, over 70% of the quantities sold in India in 2025 are locally made, and this figure is expected to rise to 90% by 2030. The French retailer first began procuring goods from India in 2000. Punjab and Uttar Pradesh are large sports goods manufacturing hubs. Merlevede said that India's manufacturing capabilities, which were less developed a decade ago, have improved. 'When the product becomes available, the manufacturing gets extremely competitive, and we are willing to take this opportunity to export this product to our different markets. Also, there is a discussion between Europe and India for a free trade agreement—it could be a welcome positive for Decathlon. In some way it could be an accelerator," he said in an interview with Mint. Decathlon's production ecosystem in India includes 113 third-party manufacturing sites, 83 suppliers, and 7 production offices. The company is also deepening its focus on culturally rooted sports like yoga and cricket, with the latter being entirely conceptualized and manufactured in India. Decathlon aims to create more than 300,000 new job opportunities within its direct and indirect workforce as part of this growth journey. The sports goods retailer operates 1,700 stores worldwide.
