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Steel maker BMW Industries is setting up a 0.5 million tonne cold rolling unit in Jharkhand at an investment of Rs 803 crore to increase high-end steel products offerings, the company's MD Harsh Bansal said. The investment is being made as part of the government's PLI Scheme for Speciality Steel, the company official told PTI in an interaction. Launched at an outlay of Rs 6,322 crore in 2021 by the steel ministry, the first round of the PLI Scheme aims to promote the manufacturing of value-added steel grades in the country and help the Indian steel industry mature in terms of technology and move up the value chain. The complex is being set up at Bokaro. It will produce colour-coated materials and advanced alloy/non-alloy coated products, which find applications in industries like infrastructure, construction, automobile, renewables and defence, Bansal said. The company aims to start the production of colour-coated production from the third quarter of the ongoing 2025-26 financial
Luxury automotive group BMW is offering a price protection assurance program to Indian customers looking to buy MINI 3-Door Cooper S model produced at its Oxford plant in the UK, amid anticipated duty cuts in the wake of India-UK FTA pact, a top company official said on Friday. BMW Group India will pass on the benefits of any price reduction in the near future on MINI 3-Door Cooper S model under a limited period offer covering cars bought from now onwards till the next 180 days, its President and CEO Vikram Pawah told PTI. He said while the government has announced that the negotiations of the India-UK FTA pact are final, the details are awaited, which has created uncertainty in the minds of customers looking to buy the MINI 3-Door Cooper S model, which is powered by a petrol engine. "We have been getting calls from customers as to what the impact is, because MINI 3-Door Cooper S is coming from the UK, what will happen, whether they should buy now or not," he said. In order to ...
BMW Group India on Wednesday reported 64.2 per cent growth in its car sales at 5,570 units in the January-June period of 2022. The BMW brand posted sales of 5,191 units during the period, a growth of 65.4 per cent while the MINI clocked 379 units, an increase of 50 per cent over the comparable period last year, the group said in a statement. The group's luxury motorcycle brand BMW Motorrad registered sales of 3,114 units at a growth of 56.7 per cent in the first half of 2022, it added. "Against all odds, BMW Group is taking rapid and consistent strides in India. Despite the turbulences caused by various factors in the domestic and international market, we have achieved the best-ever half-yearly sales performance for BMW, MINI and BMW Motorrad," BMW Group India President Vikram Pawah said. He further said, "This success underpins the enormously strong demand for BMW Group products in the luxury car and premium motorcycle segment in India." Reiterating the group's commitment towards