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Re-opening of offices, institutions to boost two-wheeler sales

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Re-opening of offices as well as educational institutions is expected to give a boost to two-wheeler sales volume on a sequential basis.

Accordingly, the sequential improvement is expected to sustain in February 2022, supported by a gradual easing of the supply-side constraints, re-opening of offices and colleges, as well as relaxation in travel restrictions and the measures announced in the FY23 Union Budget.

However, on a year-on-year (YoY) basis, the segments’ sales were dented in January 2022 due to lower rural demand, staggered state-wise restrictions amid the third wave of Covid-19 and production constraints in the premium two-wheeler segment.

“While domestic ‘2W’ sales volume continued to be 21 per cent YoY lower in January 2022, it grew 12 per cent MoM sequentially after declining for three consecutive months, with growth noted across scooters and motorcycles,” India Ratings and Research (Ind-Ra) said.

“Scooters outperformed motorcycles in January 2022. mainly due to a lower base in December 2021.”

Besides, it pointed out that limited impact of the third covid wave on economic activities and relatively relaxed restrictions compared to prior waves also supported the MoM growth.

“Dealership inventory decreased further to 25-30 days in January 2022. A2W export sales grew 3 per cent MoM and declined 3 per cent YoY in January 2022.”

“Ind-Ra expects the sequential improvement to sustain in February 2022, supported by a gradual easing of the supply-side constraints, re-opening of offices or colleges, relaxation in travel restrictions coupled with a likely improvement in rural offtake due to better crop production and the measures announced in the FY23 Union Budget.”

National

World-famous Mudiya Mela in Govardhan from tomorrow, cleanliness campaign launched

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Govardhan (UP), July 5: As the world-famous Mudiya Mela will kick off in Uttar Pradesh’s Govardhan on Sunday, authorities have launched a cleanliness campaign.

Over 2 crore pilgrims are expected to reach Govardhan for the mela and perform Parikrama.

The cleanliness campaign, led by District Magistrate C.P. Singh, started on Saturday and focussed on cleanliness in key areas, including Parikrama Marg, Daanghati temple, and Giriraj ji.

DM Singh swept the land near the Govardhan temple, spreading the message of cleanliness.

As per the directions of the Uttar Pradesh government, efforts are being made to provide pilgrims with proper facilities and clean surroundings, he said.

The District Magistrate said people use polythene bags and indulge in littering as they don’t care about cleanliness, but now, as prior warnings have been given, strict action will be taken against violators.

The DM pointed out that maintaining cleanliness in the area was the responsibility of the temple management, but as it failed, “our team and locals of Govardhan are carrying out the cleanliness drive.”

Highlighting the importance of cleanliness, DM Singh said, “We aim to clean the entire Parikrama marg.”

He also shared that notices have been issued to those shops which have encroached on public land. The cleanliness campaign was made successful with the efforts of Govardhan SDM Neelam Srivastava, Govardhan Tehsil and Panchayat.

For the unversed, Mudiya Mela is observed in remembrance of Sanatan Goswami, the principal disciple of Lord Chaitanya Mahaprabhu.

Legends have it that when Sanatan Goswami passed away, his disciples did parikrama of the Govardhan after tonsuring their heads. Since then, this tradition has been followed.

Notably, the 468-year-old tradition continues to draw a sea of devotees.

The devotees perform a 21-km-long Parikrama of Govardhan.

The belief with the yatra is that it bestows peace and prosperity on the devotees.

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Business

12 nations to get US tariff letters on Monday, says Trump

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New Delhi/Washington, July 5: US President Donald Trump has signed tariff letters on exports from 12 countries, which are expected to be sent out on July 7 (Monday).

Speaking to the media aboard Air Force One, the US President said the names of the countries which will receive the letters would only be revealed on Monday.

“I signed some letters and they’ll go out on Monday, probably 12. Different amounts of money, different amounts of tariffs,” he told reporters.

“The letters are better. It is much easier to send a letter,” Trump added.

Trump has suggested that the reciprocal tariffs could go even higher, potentially reaching 70 per cent for some countries, and take effect from August 1.

The US President in April unveiled a base tariff of 10 per cent on most goods entering the country, along with higher rates for certain countries, including China. Those elevated tariffs were later suspended till July 9.

Washington has concluded trade agreements with two countries – the United Kingdom and Vietnam.

Meanwhile, India’s high-level official delegation, led by chief negotiator Rajesh Agrawal, has returned from Washington without reaching a final agreement with US officials on the sensitive issue of trade in agricultural and dairy products that the US is pushing for.

However, there is still a glimmer of hope that an interim bilateral trade agreement may be reached at the highest political level in the two countries before the July 9 deadline.

The Indian team was in Washington for negotiations on an interim trade agreement with the US from June 26 – July 2.

According to Commerce Minister Piyush Goyal, India will not hurry into signing a free trade agreement under pressure from any deadline.

Speaking on the sidelines of an event in the national capital, Minister Goyal emphasised that India is ready to make trade deals in the national interest but it “never negotiates trade deals with a deadline”.

The US is seeking broader market access for its agricultural and dairy products, which is a major hurdle, as for India, this is a livelihood issue for the country’s small farmers, and hence, is considered a sensitive area.

While India is looking to secure an exemption from President Trump’s 26 per cent tariffs by concluding an interim deal before July 9, it is also pushing for significant tariff concessions for its labour-intensive exports such as textiles, leather and footwear.

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Crime

NIA nabs 2 human traffickers from Delhi, HP for role in sending over 100 youths to US via ‘donkey route’

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New Delhi, July 5: The National Investigation Agency (NIA) on Friday arrested two human traffickers from different locations in Himachal Pradesh and Delhi. The duo, accused of sending more than 100 youths to the United States using the notorious ‘donkey route’ were nabbed after extensive searches.

The accused were identified as Sunny Donker, a resident of Kangra (Himachal Pradesh) and Shubham Sandhal, a resident of Punjab who was currently residing in the national Capital.

Both are said to be associates of Gagandeep Singh alias Goldy, arrested earlier in March.

Gagandeep was arrested over a victim’s complaint who was illegally trafficked to the US using the infamous ‘donkey route’ and was deported back to India in February, this year.

Goldy, a resident of Tilak Nagar in Delhi, was subsequently chargesheeted by the NIA.

As per the findings of the law enforcement agency, Gagandeep Singh used to take around Rs 45 lakh from each victim on the pretext of sending them to US on a valid visa.

He would then illegally send them on an arduous journey via multiple countries, including Spain, El-Salvador, Guatemala and Mexico.

He had sent more than 100 victims illegally to the US, in this manner before being arrested.

Sunny was the main associate of Gagandeep Singh and played a key role in facilitating the journey of the victims on the ‘donkey route’.

Also, the victims were physically and mentally harassed on the way by agents to extract more money.

Shubham Sandhal operated as key hawala conduit, who transferred funds to agents in Latin America. Gagandeep used him to transfer part of the money taken from the victims to the agents based in Latin America.

The NIA, took over the case from Punjab Police in March this year. As the investigation proceeds, it continues to unravel dark secrets of the human trafficking racket.

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