Spike in fake products meant to combat Covid-19

The Authentication Solution Providers’ Association (ASPA), a self-regulated industry body of Anti-Counterfeiting and Traceability Solutions providers, has unveiled the first edition of its report “The State of Counterfeiting In India – 2020”. The report highlights the trends of counterfeiting incidents reported in India for the period 2019 and 2018. According to the report, counterfeiting incidents have risen steadily in the last few years and in 2019 these have increased by 24% as compared to 2018. The key findings of the report are as follows: –       The number of counterfeit incidents in India increased by 24% between 2018 to…

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Negative outlook for commercial vehicle industry

Noted credit rating agency ICRA, in a recently released report, has maintained negative outlook for the commercial vehicle (CV) segment over the near-term. The agency has cited a host of stress factors for the business including financing availability, macroeconomic environment, regulatory developments,  fleet operator health and coronavirus led disruptions in the marketplace. “The only limited green shoot visible is the uptick in rural demand, which augurs well for the LCV (Truck) segment, although ability to recoup lost sales of Q1 FY2021 remains to be seen. Accordingly, the domestic CV industry…

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Global flight volumes continue to recover

SITA, the technology provider for the air transport industry, recently released a new paper outlining the company’s vision for the immediate future of air travel. SITA’s ‘Runway for Future Operations’ report details the steps required for the air transport industry to deliver safer, smarter, and leaner air travel and recover from the unique economic challenges of COVID-19. The paper follows the release of new SITA data showing that despite falling significantly, global flight volumes continue to recover. SITA’s data shows that flight volumes dropped 69% year-on-year in June, significantly better…

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Projection for hybrid and electric vehicle segments

Frost & Sullivan’s recent analysis, Global Powertrain Outlook, 2020, finds that global automotive sales are expected to decline by more than 14.2% due to COVID-19 by the end of 2020 as manufacturing facilities and supply chains are affected by worldwide lockdowns. However, this slowdown is not expected to have an impact on consumer purchase trends. Demand for diesel engines is expected to decline in Europe by 30% by the end of 2020 as Worldwide Harmonized Light Vehicles Test Procedure (WLPT) commences, while global electric vehicle (EV) sales are forecast to increase…

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Double-digit revenue decline for auto-component industry

According to a recent report released by noted credit rating and research firm ICRA, weak demands resulting from Covid-19 pandemic would lead to a decline in revenue for the auto component industry in the range of 14-18 percent in FY2021. “Automobile volumes are expected to decline by 15-16% in FY2021; within this passenger vehicle demand will decline by 22% to 25%. The year will be tough for the commercial vehicles too, given the slowing economic growth, current overcapacity in the CV space and tight financing environment amidst price increases due…

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Global warehouse automation market to double in size

Frost & Sullivan’s recent analysis, Opportunities of Autonomous Delivery Robots in Warehouse Management, finds that the global warehouse automation market is expected to nearly double its size, expanding from $14 billion in 2019 to $27.2 billion by 2025. The automated guided vehicles (AGV) segment is forecast to hit $4.6 billion while the autonomous mobile robot (AMR) segment is expected to reach $6.8 billion. The degree to which the COVID-19 pandemic will impact the industry will vary considerably by region and by vertical sector. In developed countries such as the US and China, the recovery time…

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Bulk workforce to come back to offices in 12-18 months

A new global business survey commissioned by Xerox Holdings Corporation (NYSE: XRX) shows an estimated 82% of the workforce in respondents’ organizations will return to the workplace in 12-18 months’ time, on average. In preparation for a return, companies are investing in new resources to support a hybrid remote / in-office workforce, with 56% increasing technology budgets and 34% planning to speed their digital transformation as a result of COVID-19. The Xerox Future of Work Survey, conducted by the independent research firm Vanson Bourne, polled 600 IT decision makers including senior C-level…

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Mobile manufacturing in fast recovery mode

ICEA, India’s leading industry association representing mobile and component manufacturers such as Apple, Motorola, Nokia, Xiaomi, Foxconn, Wistron, Flextronics, Lava, Vivo and others, recently  unveiled its post-COVID-19 manufacturing and growth strategy. The strategy document has been submitted to the government and targets US$100 bn in mobile phones and nearly US$40 bn in component exports by 2025. “The mobile manufacturing and components sector is ready to lead India’s post COVID-19 exit strategy. Production has restarted. We hope to hit 100% production by August. As the PLI scheme kicks in, we plan to…

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Massive contraction in steel demand in Q1

With the extended lockdown to contain the Covid-19 pandemic, demand for steel industry is expected to contract by 60-65% in the first quarter of fiscal year, according to a survey by rating agency CRISIL. Steel manufacturers are focusing on managing liquidity and cash flows in the near future. Around 75% of the survey respondents indicated that they will extend support through incentives and extended credit cycle to downstream medium, small and micro enterprises to ensure business continuity. More than 35% of respondents anticipate a demand contraction of over 15% for the…

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Supply chain to also contribute in increased IoT based patent filing

The National Association of Software and Services Companies (NASSCOM), has  announced the findings of their latest report titled, IoT: Driving the Patent Growth Story in India. According to a release by the agency, there have been about 6,000 IoT Patents filed in India from 2009-2019 of which over 5,000 were filed in the last five years. Over 80% of these patents filed were related to applications pertaining to Industry 4.0 with the healthcare and automobile industry leading the way. Over 70% of the total patents filed in India were from R&D centers of global…

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