Business and Economics
Indian Passenger vehicle sales up 23% in February

Passenger vehicle wholesale in the Indian market continued to grow year-on-year for the seventh straight month in February as demand for personal mobility remains strong during the pandemic despite soaring fuel prices.

About 308,000 cars and SUVs were dispatched from factories to showrooms during February, a 23% growth over the preceding year, industry data show.

Market leader Maruti NSE 2.17 % Suzuki sold 144,700 passenger vehicles during the month, a year-on-year growth of 8%. Its market share improved by 116 basis points over January to 46.9% but was considerably lower than 53.3% achieved in February 2020.

Hyundai Motor and Tata Motors sold 51,600 and 27,224 units during the month, growing by 29% and 119% over last year.
Local assembly of vehicles and component manufacturing SOP launched

The Ministry of Industries spearheaded by Wimal Weerawansa is soon to launch the Standard Operating Procedure (SOP) for Local Assembly of Vehicles and Automotive Component Manufacturing to encourage world renowned brands to locally assemble vehicles.
President of the Sri Lanka Automotive Component Manufacturers’ Association Dimantha Jayawardena, said that the new SOP has been prepared in keeping with the highest standards around the world. “This SOP has been prepared by the Policy Development Division of the Ministry of Industries in close collaboration with Ministry of Finance, Sri Lanka Customs, Registrar of Motor Vehicles, Sri Lanka Automobile assemblers and Automobile Component Manufacturers. With the launch of the SOP it will become mandatory that vehicle assembly comply to the SOP and increase value addition for locally manufactured vehicles.

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Cargills embarks on ambitious agriculture modernisation project ‘Sarubima’

Empowering farmers is a commitment that embodies the heart and soul of Cargills (Ceylon), which runs Sri Lanka’s biggest supermarket chain.

With this in mind, Cargills has embarked on an ambitious agriculture modernisation project, ‘Sarubima’, to create a positive impact on the local farming community and environment which they operate in.

Cargills Sarubima is a totally dedicated, efficient modern Agriculture project which ensures better yields, higher income through protected cultivation, and saving in water, labour and fertilizer cost.

Apart from all this, the project is an ideal platform to find solutions for key challenges to Agriculture sector growth in Sri Lanka which include regional disparity, dwindling interest of youth in agriculture, overuse of agro-chemicals, limited export potential of local produce, volatile weather conditions and field harvest losses.

Speaking on the concept behind Sarubima Project, Cargills Agri Business-Deputy General Manager Haridas Fernando said,

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