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India auto dealers warn of risks to supply, retail volume growth

July 7 (Reuters) – Geopolitical tensions and spillover effects from U.S. tariffs may weigh on consumer sentiment, while China’s rare earth export curbs could further tighten vehicle supply and drag on retail sales, India’s Federation of Automobile Dealers Associations (FADA) said on Monday. Retail volumes fell 9.4% in June from a month ago and the average time a car stayed in a showroom, or inventory days, rose to about 55 days from 52-53 days in May, above the FADA’s recommended threshold of 21 days. China’s rare earth export curbs have upended global auto supply chains, exacerbating challenges for Indian carmakers

Elderly man loses Rs 73.72 lakh in gold trading fraud after meeting woman on dating app

Thane, Jul 7 (PTI) A 62-year-old resident of Navi Mumbai has allegedly been cheated of Rs 73.72 lakh after being lured into gold trading for high returns by a woman whom he met through a dating application, police said on Monday. The woman got in touch with the man, who resides in New Panvel area, through the dating app between March and May 2024. Following initial interactions, the two continued chatting on WhatsApp during which the woman, who identified herself as Zia, lured the man to invest in a gold trading scheme, an official from Khandeshwar police station said. The

Rupee falls 26 paise to 85.66 against US dollar in early trade

Mumbai, Jul 7 (PTI) The rupee fell 26 paise to 85.66 against the US dollar in early trade on Monday amid FII outflows and a weak opening at the domestic equity markets. The US on Sunday stepped up pressure on trading partners to make new deals before the July 9 deadline, warning countries that higher tariffs could kick in on August 1, putting further pressure on the rupee. However, a weaker greenback, lower global crude oil prices and the rise in the country’s forex reserves prevented further losses in the local unit, according to forex traders. At the interbank foreign

Markets decline in early trade amid caution ahead of tariff deadline, weak Asian peers

Mumbai, Jul 7 (PTI) Benchmark indices Sensex and Nifty declined in early trade on Monday amid caution ahead of the July 9 US tariff deadline, weak trends in Asian markets and foreign fund outflows. Volatile trends engulfed markets during the early trade amid concerns surrounding the US-India trade deal, experts said. The 30-share BSE Sensex declined 170.66 points to 83,262.23 in early trade. The 50-share NSE Nifty dipped 53.75 points to 25,407.25. July 9 marks the end of the 90-day suspension period of the Trump tariffs imposed on dozens of countries, including India. An additional import duty of 26 per

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