Jim O 'Neill speaks on fiscal deficit; Tractors driving M&M recovery | Top Headlines
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Here are the to headlines of the day: -Jim O 'Neill speaks on fiscal deficit, COVID vaccine & more "Would encourage Modi to take more risk on fiscal deficit. If it would help boost India’s long term growth potential…, India needs to have healthcare for 1.3 bn people rather than for privileged few. US markets are definitely not cheap any more but I do think that in the context of the emerging world so long as the Fed is accommodative and infections don’t pick up, probably the rally will be stronger for EMs, especially India. In order to be a serious competitor to China, India would have to have a much more organized & competitive labor market in manufacturing and whole supply chain. Going back to Indian policy response, it will require Modi to be a lot more bold about FDI rules and many things to do with the labor market, so the potential is definitely there because this crisis certainly weakening China’s role in global supply chain. US is losing its global dominance, and we have this country called China which has become big but we don’t know where it is ultimately going, if India undertook reforms in a major way, it would accelerate the relative position of India in the world in next 20 years", says Jim O'Neill. Listen in. -Tractors driving M&M recovery | Anish Shah of M&M To ET NOW Rural economy doing well; saw higher tractor sales in May 2020 vs May 2019. Tractors more or less back to pre-COVID level. For auto biz, it might take longer to recover. Grew market share by 1% last fiscal; expect to grow further this year. Gained market share in small CV biz too, continue to see good demand there too. Strength in large SUVs demonstrated over time. Will be looking at consolidating our strengths, which also included small CVs. Lessons from EV manufacturing also significant, EV market will take time to shape up in India. Whenever EV market picks up in India, M&M well positioned to tap on it. From 2002-18, Mahindra was among top performers on Nifty with 22% avg RoE. Losses in international ops mounted, though cash generation was still strong, EPS suffered. Made a clear path for all loss making subsidiaries. Auto & farm biz generated Rs 4,300 cr in FY20. Have been able to harness the value of investments made in key businesses. Aim to get back to 17-years' history & eliminate impact of last 2 years. Will look at every single biz with a fine scan, says Anish Shah. Listen in! -Tata Motors Q4 poll Tata Motors could actually turn out to be the underperformer in the OEM. The entire motown has been facing enormous slowdown woes, lockdown disruptions & more. The sales are falling in excess of 25 percent on a year-on-year basis, with margins may shrink over 100 basis points sequentially in a challenging quarter, hurt by weak performance at Jaguar Land Rover (JLR). It will release its earnings later in the day. Know more. Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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