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Association of Indian Forging Industry (AIFI)

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Key Press Reports
Automotive Industry

Auto wholesales a bummer in Nov after a bumper October

Business Line | 2 December 2025

  • Auto wholesales declined month-on-month in November after strong October sales driven by GST cuts and festive offers.
  • Despite the m-o-m dip, most OEMs reported strong year-on-year growth; Maruti Suzuki posted its highest-ever November sales (+21% y-o-y).
  • Two-wheelers also showed strong y-o-y growth, though Bajaj Auto saw a slight decline.

After 19.2% ethanol blended fuel in 2024-25, India eyes 20% by 2026

Business Line | 2 December 2025

  • Ethanol blending reached 19.2% in ESY 2024–25, with the government targeting 20% blending by October 2026.
  • Higher ethanol procurement costs and feedstock allocation (rice and sugar diversion) are key challenges.
  • India’s ethanol distillation capacity stands at about 1,950 crore litres, with supply schedules already planned.

Lumax expects to more than double its revenue in 4-5 yrs

Business Standard | 6 December 2025

  • Lumax Group aims to cross ₹20,000 crore revenue in 4–5 years, driven mainly by domestic demand rather than exports.
  • The group plans a China office to access advanced technologies and deepen technical collaborations.
  • Focus areas include premiumisation, safety features and lightweight components amid strong auto sector growth in India.

Auto dealers expect positive sales over next three months: FADA

Business Line | 9 December 2025

  • About 74% of auto dealers expect sales growth in the next three months, supported by GST 2.0 and strong enquiries.
  • Passenger vehicle retail sales rose nearly 20% y-o-y in November, while two-wheelers dipped slightly.
  • Marriage season demand, new launches and rural liquidity are expected to aid conversions.

Daimler India reinforces commitment to intercity mobility by launching 19.5 tonne BharatBenz bus

Business Line | 9 December 2025

  • Daimler India launched the upgraded BB1924 bus with higher payload capacity for intercity travel.
  • The increased GVW allows operators to earn more through additional passenger and parcel capacity.
  • The bus will be available nationwide with financing support from banks and NBFCs.

China Carmakers Miss End-of-Year Rush with Rare Drop in Sales

The Economic Times | 9 December 2025

  • China’s car sales fell 8% in November, mainly due to a sharp drop in gasoline vehicle demand.
  • Reduction in trade-in subsidies hurt demand, while EV sales saw only modest growth.
  • Luxury foreign carmakers are facing pressure as buyers shift to affordable Chinese brands.

Brakes India buys 10% stake in Japan's TBK through primary capital infusion

Business Line | 10 December 2025

  • Brakes India acquired a 10% stake in Japan’s TBK via a capital and business alliance.
  • The partnership will strengthen commercial vehicle braking systems and export opportunities.
  • Both companies aim to co-develop high-value products for global and Indian markets.

PVs, two- and three-wheelers see highest-ever sales in Nov

Business Line | 12 December 2025

  • Passenger vehicles, two-wheelers and three-wheelers recorded their highest-ever November sales.
  • Festival demand and GST 2.0 reforms played a key role in boosting dispatches.
  • Exports also surged sharply across all vehicle segments in November.

China's Luxury Car Sales Skid as Customers Opt for Local Affordable Brands

The Economic Times | 15 December 2025

  • Demand for foreign luxury cars in China is weakening amid a prolonged property downturn.
  • Consumers are shifting towards discounted, tech-rich Chinese brands and EVs.
  • Market share of premium foreign brands has declined, while Chinese OEMs continue to gain.

Auto parts suppliers spin out on foreign roads

Business Standard | 15 December 2025

  • Auto component makers with high overseas exposure face demand weakness and margin pressure.
  • Slowing global PV and CV markets, especially in North America and Europe, are key concerns.
  • Brokerages remain cautious on companies heavily dependent on exports.
Electric Vehicles

e4-wheeler registrations fall in November

Business Line | 2 December 2025

  • Electric four-wheeler registrations declined 23% m-o-m in November after a festive spike in October.
  • Tata Motors retained leadership with ~41% market share, while MG and Mahindra saw marginal share declines.
  • GST cuts on ICE vehicles and rare-earth magnet shortages widened the EV–ICE price gap, hurting EV demand.

E2W sales stumble in November; Hero knocks Ola Electric out of top 4e4-wheeler registrations fall in November

Business Standard | 1 December 2025

  • Electric two-wheeler registrations fell 21% m-o-m in November after record October sales.
  • Hero MotoCorp overtook Ola Electric to become the 4th largest player, backed by Vida and Ather volumes.
  • Ola’s registrations nearly halved, reflecting intensifying competition and market churn.

Tesla's Yet to Have an Electric Start in India

The Economic Times | 2 December 2025

  • Tesla delivered fewer than 50 vehicles in November, lagging BMW and Mercedes in India’s luxury EV space.
  • BMW’s iX1 and Mercedes’ premium EVs are gaining faster traction amid rising luxury EV adoption.
  • India’s EV car market grew 57% y-o-y in 11 months, driven mainly by mass-market players.

TVS Motor overtakes Bajaj Auto in EV2W registrations in Nov

Business Line | 1 December 2025

  • TVS Motor became the top EV two-wheeler player in November, overtaking Bajaj Auto.
  • Ola Electric saw a steep drop in volumes and market share due to post-festive slowdown.
  • Overall EV2W registrations declined m-o-m amid GST changes and rare-earth magnet shortages.

India's e2W market zooms past 1.18 mn registrations in 11 mths

Business Standard | 4 December 2025

  • Electric two-wheeler registrations crossed 1.18 million units in Jan–Nov 2025, up 10% y-o-y.
  • Legacy OEMs like TVS and Bajaj strengthened leadership, while newer players lost momentum.
  • November saw ranking reshuffles, with Hero’s Vida overtaking Ola Electric in monthly sales.

Ola Electric's sales drop; market share of TVS, Bajaj Auto, Ather sees growth

Business Line | 4 December 2025

  • Ola Electric’s YTD sales and market share declined sharply compared to last year.
  • TVS, Bajaj Auto and Ather reported strong growth, aided by supply normalisation.
  • Overall electric two-wheeler sales declined 2.6% in November despite strong OEM-level performances.

VinFast to pump $500 m more in TN plant to expand EV line-up

Business Line | 5 December 2025

  • VinFast plans to invest an additional $500 million in its Tamil Nadu plant to expand into e-buses and e-scooters.
  • The expansion includes new production lines, charging infrastructure and localisation efforts.
  • The project is expected to generate jobs and boost India’s green mobility ecosystem.

GST 2.0 tilts scales towards ICE; EV penetration softens

Business Standard | 9 December 2025

  • GST 2.0 reforms boosted ICE vehicle sales by improving affordability, while EV penetration dipped.
  • Electric car penetration fell to 3.7% in November, below pre-GST cut levels.
  • Luxury buyers increasingly preferred ICE vehicles due to lower ownership costs and resale value.

EV sales top 2 mn in first 11 mths of'25

Business Standard | 10 December 2025

  • EV registrations crossed 2 million units in Jan–Nov 2025, a first for the industry.
  • Passenger EVs grew 77.5%, while two-wheelers grew nearly 10% y-o-y.
  • Market dynamics may shift in 2026 as new mass-market EV models enter the segment.

Big-capital makes a return to EV two-wheeler sector

Business Line | 13 December 2025

  • EV two-wheeler startups attracted $1.4 billion funding in 2025, driven by late-stage investments.
  • Investors are backing scale-ready OEMs as early-stage funding slows.
  • Electric motorcycles present a major growth opportunity, especially in tier-2 and tier-3 markets.

EV battery market to grow 14-fold by 2032: CES report

Business Line | 13 December 2025

  • India’s EV battery demand is projected to surge 14-fold to 256.3 GWh by 2032.
  • Advances in LFP, NCM, sodium-ion and solid-state batteries are driving cost and safety improvements.
  • Battery innovation is expected to significantly improve EV affordability and adoption.

E-bikes Fervour Discharging; Big Potholes Ahead

The Economic Times | 14 December 2025

  • India’s electric two-wheeler growth has slowed amid GST changes, charging issues and fading incentives.
  • ICE two-wheelers remain resilient, supported by affordability and fuel price stability.
  • EV2W players need new strategies to revive demand and sustain long-term growth.
Tractor

Nov tractor sales plummet after all-time high in Oct

Business Line | 11 December 2025

  • Tractor sales fell sharply to 1.02 lakh units in November from an all-time high of 1.74 lakh units in October, though still better than July–August levels.
  • October sales were boosted by GST cuts and a good monsoon; November reflects a return to normal demand.
  • ICRA upgraded FY26 tractor industry growth outlook to 8–10%, supported by strong monsoon, higher MSP and positive farm sentiment.
Raw Material

JSW seals ₹31,500 cr JV with JFE Steel for Bhushan Power

Business Line | 4 December 2025

  • JSW Steel will sell 50% stake in Bhushan Power & Steel to Japan’s JFE Steel for ₹15,750 crore, forming a 50:50 JV.
  • The deal will help deleverage JSW’s balance sheet by ₹37,250 crore and cut net debt-to-EBITDA sharply.
  • JFE will bring technology expertise while JSW focuses on expansion, including a planned 10 mtpa Odisha capacity by 2030.

Tata Steel plans major expansion, backward integration programmes

Business Line | 11 December 2025

  • Tata Steel announced brownfield expansions and backward integration, including a 6 mt greenfield steel plant in Maharashtra with LMEL.
  • It will acquire 50.01% stake in Thriveni Pellets and expand iron ore mining, logistics and pellet-making capacity.
  • The company also plans low-carbon HIsarna demo plant and capacity expansion at Neelachal Ispat Nigam and Meramandali.
Government Policy

Israeli govt looks to shift defence manufacturing to India

Business Line | 9 December 2025

  • Israel is exploring shifting defence manufacturing to India under Aatmanirbhar Bharat through joint development and co-production.
  • A new India–Israel MoU focuses on AI, cyber, R&D, training and advanced defence technologies.
  • Several Israeli firms already have JVs in India, while Israel’s arms export share to India has declined over recent years.

Trade unions call for nationwide strike in Feb against Labour Codes

Business Line | 10 December 2025

  • Central trade unions announced a nationwide general strike in February 2026 opposing the four Labour Codes.
  • Unions cited widespread protests, farmer support and participation across organised and unorganised sectors.
  • The Centre was accused of running a propaganda campaign to project the labour reforms as beneficial.

MSME ministry to set up 3 tech extension centres in state

The Times of India | 11 December 2025

  • The MSME Ministry will establish three extension centres in Maharashtra—Pune, Nagpur and Sindhudurg.
  • The initiative is part of a national plan for 100 extension centres and 20 technology centres.
  • Focus areas include MSME formalisation, technology adoption, credit access and support for women-led enterprises.

Construction equipment makers see dip in road work volumes over the past year

Business Line | 11 December 2025

  • Road construction activity has slowed by 10–12% y-o-y despite visible urban infrastructure disruptions.
  • Payment delays, land acquisition hurdles and election-year distractions are key reasons for the slowdown.
  • While road projects dipped, demand is rising in metro rail, tunnels and smart mobility infrastructure.

EU agrees to cut 90% emissions by 2040

The Economic Times | 11 December 2025

  • EU nations agreed to cut greenhouse gas emissions by 90% from 1990 levels by 2040.
  • Up to 5% of reductions can be achieved through carbon credits from projects outside Europe.
  • Activists criticised the move, saying it allows climate responsibility to be shifted offshore.

Sovereign control a valid concern: Nadella backs India’s stand on local resilience

The Times of India | 11 December 2025

  • Microsoft CEO Satya Nadella said sovereign control and local resilience in AI and cloud are legitimate priorities for India.
  • Microsoft will invest $17.5 billion in India over four years, including expanding data centre capacity.
  • Nadella praised India’s digital public infrastructure and policy-led tech ecosystem as a growth driver.

Labour ministry inks initial Microsoft pact

The Times of India | 11 December 2025

  • The Labour Ministry signed an MoU with Microsoft to strengthen AI-led skilling and workforce readiness.
  • The partnership aims to improve job access through platforms like e-Shram and National Career Service.
  • The government targets extending social protection coverage to 100 crore citizens by March 2026.

Mexico tariff hike triggers concerns over export of auto components and cars

Business Line | 12 December 2025

  • Mexico imposed a 50% import tariff on Indian auto components and cars, raising concerns for exporters.
  • India exported $1.95 billion worth of vehicles and components to Mexico in FY25, led by VW, Hyundai and Kia.
  • Industry experts warn of supply-chain disruption and higher costs, urging diversification of export markets.

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Recent Activities

 

    • Online Session on "Decoding India’s Labour Codes: Implications for Employers and Workforce", 2nd Dec  2025, Virtual
    • Training on “Maintenance of Induction Billet Heater” and “Energy efficient Technologies & savings in compressed air system”, 12th December 2025, Pune
    • Training on “Maintenance of Induction Billet Heater”, 14th December 2025, Rajkot
    • Western Region Meeting, 19th Dec 2025, Pune
Upcoming Activities
    • Northern Region Meeting, 7th Jan 2026, Chandigarh
    • Training on “Maintenance of Induction Billet Heater”, 8th Jan 2026, Ludhiana
    • Training on ''Problem Solving Of Forging Defects & Die Life Improvement",13th Jan 2026, Pune
    • Training on "Maintenance Of Hammer, Forging Press and Triming Press",20th Jan 2026, Bengaluru
    • AIFI Information Booth At IMTEX FORMING 2026 & TOOLTECH 2026
    • Western Region Meeting,30th Jan 2026, Pune
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