Business
Supreme Court allows iron ore exports for Karnataka miners, relaxes only e-auction route
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In a big relief for Karnataka miners, the Supreme Court on Friday relaxed restrictions on selling of extracted iron ore through e-auction only as it allowed export the stocks, including pellets, produced from the mines in the state’s Ballari, Chitradurga and Tumakuru, as per the existing policy.
A bench, headed by Chief Justice N.V. Ramana, said: “We are inclined to favourably consider the prayer made by the applicants and grant them permission to sell the already excavated iron ore stock-pile at various mines and stock yards located in the districts of Bellary, Tumkur, and Chitradurga in the state of Karnataka, without having to resort to the process of e-auction. Permission is granted to the applicants to enter into direct contracts to lift the excavated iron ore through inter-state sales.”
“We also grant permission to the applicants to export the iron ore and pellets manufactured from the iron ore produced from the mines situated in the state of Karnataka, to countries abroad, as is being done in the rest of the country, but strictly in terms of the extant policy of the Government of India.”
The bench, also comprising Justices Krishna Murari and Hima Kohli, said time has come to review the system that was put in place over a decade ago, on halting the unchecked excavation of iron ore in the three prime districts in Karnataka.
“Ever since then, e-auction has been the only mode available for disposal of the excavated iron ore. The said arrangement has worked out satisfactorily so far. The situation that was prevalent in the region prior to the year 2011, has now changed for the better,” it added.
The bench said it needs to relax the order passed in September 2011, against the backdrop of various steps taken by the government. “Having regard to the course correction that has taken place, the regeneration post the ruinous damage caused to the environment and the various steps taken by the government, we are of the opinion that the order passed on September 23, 2011 deserves to be relaxed,” it said.
Noting that consecutive e-auctions conducted by the monitoring committee have been receiving a poor response and sale of iron ore even at the reserve price is dismally low, it said that records reveal that repeated attempts to resort to the e-auction process for the sale of already excavated iron ore mined in the three Karnataka districts have not borne any fruitful results.
“As a consequence thereof, large stock of iron ore, including sub-grade iron ore, is lying unused. As on March 31, 2022, the stocks available in category ‘A’ and ‘B’ mines is stated to be 82,98,130.5 MT. The stocks available in the auctioned category ‘C’ mines as on the above date is 12,25,100.5 MTs. The stock in respect of e-auction category ‘A’ and category ‘B’ expired leases is 2,33,126.73 MTs and in mining leases outside the districts of Bellary, Chitradurga and Tumkur, is 93,181 MT. The closing balance of iron ore available in all the mines across the state of Karnataka as on March 31, 2022, adds up to 11,94,783.93 MT,” it added.
The top court has scheduled the plea for hearing on lifting the ceiling on extraction of iron ore for consideration in the second week of July. It also sought a view of an oversight authority appointed in April this year.
Business
Tata Motors Unveils Limited-Edition Safari STEALTH to Mark 27 Years of Legacy
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Tata Motors is celebrating 27 years of the Safari with the launch of the exclusive STEALTH Edition, a limited-run variant designed for those who seek style and performance. Available in both the Harrier and Safari models, only 2,700 units of this edition will be produced. The Harrier STEALTH is priced at Rs 25.09 lakh (ex-showroom, Delhi), while the Safari STEALTH starts at Rs 25.74 lakh (ex-showroom, Delhi) and is offered in both 6- and 7-seater configurations. With a striking design, premium features, and advanced technology, the STEALTH Edition adds a new level of exclusivity to Tata’s SUV lineup.
The Tata STEALTH Edition brings a bold, monotone design that reflects the growing demand for exclusive and distinctive vehicles. With limited units available, this special edition is set to attract enthusiasts looking for a unique SUV. Bookings for the STEALTH Edition opened on February 21, both online and at Tata dealerships across India, giving customers the chance to own a rare and stylish addition to Tata’s lineup.
The Harrier and Safari STEALTH Edition stand out with their bold design and advanced features, built on the sturdy OMEGARC platform derived from Land Rover’s D8 architecture. The exclusive Matte Black finish, R19 Black Alloy Wheels, and a distinctive STEALTH mascot give these SUVs a powerful road presence. Inside, the cabin is designed for comfort with ventilated first- and second-row seats (Safari only for the second row), a Carbon-Noir interior theme, and a voice-assisted dual-zone climate control system.
Technology is a highlight, featuring a 31.24 cm Harman touchscreen, Arcade App Store, Alexa Home 2 Car, Map My India navigation, and a 10-speaker JBL audio system with Harman AudioworX. Power comes from a 2.0L KRYOTEC BS6 Phase 2 turbocharged engine producing 170PS, paired with a 6-speed automatic transmission. Safety is a priority, with Level 2+ ADAS offering 21 functions, including a segment-first Intelligent Speed Assist, along with 7 airbags and ESP with 17 safety features.
Unveiling this exciting new version of the Harrier and Safari, Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility Ltd., stated, “Tata Motors has been a leader in the Indian SUV segment, with innovation at its core. The Tata Safari, which introduced the concept of a lifestyle SUV to India, reflects this legacy of pioneering excellence. Over 27 remarkable years, the Safari has constantly evolved, and the launch of the STEALTH Edition is a tribute to this journey. This special edition is an exclusive offering, with only 2,700 units available in the striking STEALTH Matte Black finish. More than just an SUV, the STEALTH Edition is a symbol of prestige, adventure, and capability, making it a highly desirable collector’s item for enthusiasts and connoisseurs. Owning a STEALTH Edition isn’t just about having an extraordinary vehicle—it’s about claiming a piece of automotive history that many will aspire to have in their collection.”
Business
Maruti Suzuki’s New Mid-Term Plan Aims To Make India An Export Hub, Launch More EVs
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New Delhi: The Suzuki Motor Corporation of Japan, the parent company of Maruti Suzuki India, on Thursday announced a new mid-term plan with a “rethink” in its strategy as “the business environment has changed due to declining market share in India” and the growing electrical vehicles segment.
In its new mid-term plan for 2025-30, the company has identified India as its “most important market”. Maruti Suzuki aims to create a manufacturing capacity of producing 4 million cars annually to reclaim a 50 per cent market share in India and use the country as a global export hub as well.
The auto major plans to expand its EV lineup starting with the e-Vitara, and is aiming to launch four new EV models by FY30 in a segment where its rivals like Tata Motors and Mahindra & Mahindra already have a varied EV portfolio in India.
“In India, we will promote further localisation in line with the growth of the electric vehicle market,” the company said.
Maruti Suzuki is currently exporting three lakh vehicles from India annually. By the end of this decade, it is targeting the export of 7.5-8 lakh units per year.
While the company noted it achieved revenue and profit targets ahead of schedule by improving sales mix and quality, its sales volume target could not be met.
It noted that the “competitive environment is becoming increasingly severe, and the quality of product functions, equipment and services required by customers is increasing”.
It aims to be India’s no.1 carmaker in terms of production, local sales and exports of electric cars. A total of six electric vehicles will be introduced by FY30, including four electric cars and two commercial vehicles.
Suzuki Motor plans to invest 1,200 billion yen (about Rs 7,000 crore) as capital expenditure towards production, new models, carbon neutrality and quality measures. A new plant in Haryana’s Kharkhoda and an assembly line in Suzuki Motor Gujarat will come onstream by 2030 for a total installed capacity of four million units.
Business
‘Made in India’ iPhone 6e not SE variant but a next-gen entry point for consumers
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New Delhi, Feb 20: In a further push to the local manufacturing, the entire iPhone 16 lineup, including the newly-launched iPhone 16e, is now being assembled in India for domestic market as well as for exports, as industry experts on Thursday cleared the air around the new device being compared to now-retired iPhone SE.
The new Apple device, with A18 chip, breakthrough battery life, Apple Intelligence, and a 48MP 2-in-1 camera system, is being manufactured/assembled for local consumption as well as for export to select countries.
According to experts, iPhone 16e is not iPhone SE4 and the whole “comparison is futile”.
When iPhone SE was launched, it was another masterstroke at that time. However, times have changed since then.
“Essentially, Apple retired the SE lineup and extended the iPhone 16 lineup with a new entry point. iPhone SE was no longer adding any value to consumers, developers or Apple,” said Neil Shah, Partner and Co-Founder at Counterpoint Research.
The iPhone SE which was positioned as a “Special Edition,” which brought nostalgia of older and smaller design, was priced around $400.
However, the iPhone SE lost its value and popularity, which used to be once 16 per cent of the total iPhone sales volumes, dropped to 1 per cent last year.
According to Shah, consumers now prefer better cameras, bigger displays and faster processors.
“With all this background, what Apple did was to extend the 16 series with a newer ‘base version’ of iPhone 16 and now retired SE,” Shah explained.
According to industry experts, the company has done well with streamlining the series, reducing fragmentation in design and experience and able to charge $599 (US)/Rs 59,999 (India) with the newest entry point for the best Apple experiences.
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