A look at the headlines in the sector:

  1. Mahindra signs pact with Ford for electrification and product development: The two companies will collaborate for up to three years to leverage Ford’s ‘global reach and expertise’ and Mahindra’s domestic scale.  
  2. US resumes fast processing of H-1B visa applications: In March, it had suspended the premium service because of a huge rush of petitions.  
  3. Toys ‘R’ Us files for bankruptcy in US, Canada as it struggles against online retailers: However, the toy store chain said that most of its outlets outside North America were profitable, and would not be affected.  
  4. Cyrus Mistry urges six Tata Group companies to vote against making Tata Sons a private firm: In a letter, Cyrus Investments warned that the move would restrict the free transfer of shares and dilute governance standards.  
  5. Hasty implementation of GST had a negative effect on GDP growth, says Manmohan Singh: The former prime minister said the new tax regime and demonetisation both will have an impact on the informal and service sectors, which make up 40% of the GDP.  
  6. Government should make up its mind on automobile policy, says Ashok Leyland MD Vinod Dasari: The former chief of the Society of Indian Automobile Manufacturers said the Centre should make decisions keeping national interest in the industry in mind.  
  7. India will lead the ‘third wave’ of economic growth in Asia, says Deloitte report: However, it warned that the country may face rising unemployment and social unrest without ‘the right institutional set-up’ to sustain development.