Volvo truck and bus sales increased by 73.4% to 189 units in January 2023.
This is the 8th consecutive interest rate hike by the US Central Bank since the beginning of 2022.
Domestic sales (M&HCV and LCV) were 16,198 units in the reporting month, a 27% increase from 12,709 units in January 2022.
The central government’s FY24 Budget was growth supportive whilst sticking with a modest glide path for consolidation.
The new KYC PAN norms declared by the Finance Minister will be a win-win situation for both the government and the customers.
The proposed policy reforms and increased capital infusion will provide an impetus to MSMEs and the start-up ecosystem.
The announcement of a new program to promote R&D in the pharmaceutical sector is another welcome move.
Dr Niranjan Hiranandani, National Vice Chairman – NAREDCO and MD- Hiranandani Group
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