Maruti Suzuki said it is replacing, free of cost, a faulty part of clutch operation system in its newly launched Ciaz sedan
Maruti Suzuki India Ltd (MSIL), the country's largest carmaker has recalled 3,796 units of its newly launched mid-sized sedan Ciaz to replace a faulty part of clutch operation system.
"Maruti Suzuki will proactively undertake a service campaign to inspect a suspected fault and replace the relevant part of clutch operation system of a batch of 3,796 Ciaz (manual transmission) cars," the company said in a statement.
The cars are among those manufactured till 7 November 2014, it added.
The company said it has decided to undertake a service campaign for these cars in the interest of customers and dealers have started to communicate with owners of the impacted vehicles.
"The inspection and replacement will be done free of cost to the customer," it added.
Last month, MSIL had launched Ciaz with an introductory price starting at Rs6.99 lakh ex-showroom Delhi.
The petrol variants of the sedan are priced between Rs6.99 lakh and Rs9.34 lakh while the diesel variants are priced between Rs8.04 lakh and Rs9.8 lakh, respectively (ex-showroom Delhi).
Earlier this year in April, MSIL had recalled 1.03 lakh units of its popular models -- Ertiga, Swift and DZire -- manufactured between 12 November 2013 and 4 February 2014 to replace faulty fuel filler neck.
In September, the company had recalled 69,555 units of Dzire, Swift and Ritz models manufactured between March 2010 and August 2013 to repair wiring harness fitment.
Ever since auto industry body SIAM started voluntary vehicle recalls for safety related issues in India in July 2012, over seven lakh vehicles have been recalled by various manufacturers including Ford, Mahindra & Mahindra, Honda, General Motors and Nissan.
Chinese ambition to dominate the far east and Asia also needs to be checked by India extending closer cooperation with Japan, Philippines, Vietnam, South Korea, Malaysia, and closer at home to other countries such as Sri Lanka, Bhutan, Nepal, Bangladesh, Myanmar, Afghanistan and Maldives
Nawaz Sharif's quiet visit to China remained in the background, a hush-hush affair, till the announcement of the China-Pakistan Economic Corridor (CPEC). In fact, it has just been reported in the press that the Pakistani Prime Minister performed the ground-breaking ceremony of a section of the motorway in the North-west. It is said to be 60 Kms long, 4-lane fenced Hazra motorway in Khyber Pakhtunkhwa province, costing about $297 million and expected to be completed in two years.
The Chinese government and banks will finance Chinese companies to build $45.6 billion worth of energy and infrastructure projects in Pakistan over the next few years. These will be profit-oriented projects. Out of $45.6 billion, $33.8 billion is earmarked for energy projects and $11.8 billion for infrastructure.
This economic corridor will pass through Pakistan occupied Kashmir (POK) and will help connect China's Xijiang to Pakistani Gwader port in Balochistan and will also serve as a terminal for China to pump oil procurement from the Persian Gulf. According to Pakistani Minister for Water and Power, it will be Chinese banks and the government which will finance the project. Pakistan will not be taking debt on this score. While in China, Nawaz Sharif is reported to have signed 20 agreements including the project related to deep water Gwader port at a cost of $622 million, which China is developing.
Simultaneously, China expects to build the New Silk Road, which will enable it to trade with European and Asian markets. China plans to spend $16.3 billion to finance building of infrastructure. This will link it to markets in three continents. Chinese media claim that every country along the route will benefit. Initial plans indicate that the Silk Road starts from the ancient capital city of Xiam, goes west to Lanzhow and Urumqi before reaching central Asia, Middle East and Europe. Full details have not been announced yet.
In the meantime, it may be recalled that, when Sri Lanka offered to India to assist and build the Hambantota port in the North, the United Progressive Alliance (UPA) government, in order to please the Tamil Nadu government, did not take the opportunity. This was immediately seized by China who built the port in no time and now, the Chinese vessels, including submarines, can be at a stone's throw to India.
Now, digress for a moment and take the case of moves made in the 18th SAARC summit in Kathmandu recently. Although there were nine observer countries, including the US, China, Japan, South Korea and Iran, a move was made, spearheaded by Pakistan, and duly supported by both Sri Lanka and Maldives, that China be made a full-fledged member of SAARC.
While Pakistan has China as an all-weather friend, India is treated as its all-weather adversary and enemy. Pakistan was the stumbling block in almost all the proposals made at SAARC summit! So, if China were to be admitted into this organisation, it will lead to continuous chaos in each meeting. In any case, China is not a South Asian Country, and it is gratifying to note the firm stand taken by Prime Minister Narendra Modi in this regard.
In the meantime, China may make political overtures and attempt to offer a quid pro quo for an Indian entry into the Shanghai Co-operation Organisation, if India supports the Chinese SAARC full membership. India should decline such a move. And, when it does that, China will make an attempt to link her withdrawal of veto for a permanent seat at the UN Security Council and an "interim" agreement to "settle" its border dispute in Arunachal Pradesh! India would do well not to fall into these traps also.
After all the hype about the President Xi Jianping's visit to India, the Chinese have, on a free of cost basis, undertaken a feasibility study of the Delhi-Chennai bullet train project, which can do 300kmph, cover a distance of 1,754 kms in 6 hours, and is estimated to cost $32.6 billion. At the same time, both China and India have also identified the development of Bengaluru and Bhubaneshwar as "model stations" that China would "establish". Other areas under collaboration cover the establishment of a "Railway University" and upgrading of existing tracks so that trains can run around 180 kms per hour.
Here again, the rail corridor between Chennai and Mysuru via Bengaluru has been identified. To make this possible, India proposes to send five batches of 20 personnel each to China for training. Also as China has developed world class expertise in "heavy haul trains", India would work together with China in this area also.
As against this, it may be remembered that Japan is also a serious contender to get high speed train deals in India. In fact, so far, the Japanese Bullet train project, covering Mumbai-Ahmedabad is on track and Japan would be prepared to study this issue further because of its close relations with India, and attempt to work out a mutually acceptable proposal.
There has been a favourable response to the Prime Minister Narendra Modi's call for "make in India" appeal. China is no exception. However, Ding Gang, a senior editor of People's Daily, the main organ of the Communist Party, in a leading article, has stated that "China's sunset industries are where India's hope lies". In actual fact, the Chinese government has taken serious steps to stop production of goods in high-polluting industries. The labour costs are also rising in China. As a sequel, the Chinese companies are now attempting to relocate their plants in third world countries where pollution controls are lax and labour is relatively cheaper than China. If the finished product has a local demand, it would be an added advantage, like India and some other countries in the East.
Hence, “make in India” campaign should not permit such industries to come in as the ecology and environment would be our concern too.
With all these factors in the background, what should India really do? While valuing friendship with all nations, it is time India asserts itself as a regional power, who cannot be pushed around. It has to increase its allocation of funds for the development of defence forces, including upgrading of equipment with superior advanced technology and for training. In a similar fashion, Indian military training and academy should be accessible to all friendly countries.
Chinese ambition to dominate the far east and Asia also needs to be checked by India extending closer cooperation with Japan, Philippines, Vietnam, South Korea, Malaysia, and closer at home to other countries such as Sri Lanka, Bhutan, Nepal, Bangladesh, Myanmar, Afghanistan and Maldives.
India should now employ stricter control in import of goods from China that can be easily made in India. Instead of importing billions of dollars worth of electronic goods from China, it would be better to invite them to set up the manufacturing hub in India. But India should not permit any screw-driver technology and assembly plants as these will be detrimental to India's interest.
In conclusion, it may be worthwhile even to decline the $20 billion worth of projects offered by China but reconsider their moves in our area. We need to develop our political and industrial relations deeply with both Bangladesh and Myanmar in the East, strengthen our association with Sri Lanka while standing by eternally with Nepal, Bhutan and Afghanistan.
National security is far more important than the talk of lip-service friendship.
(AK Ramdas has worked with the Engineering Export Promotion Council of the ministry of commerce. He was also associated with various committees of the Council. His international career took him to places like Beirut, Kuwait and Dubai at a time when these were small trading outposts; and later to the US.)
RBI has kept policy rates unchanged for almost 10 months citing high inflation. Despite persistent demand from industry and government for a cut to boost economic activity, the central bank may keep rates on hold, says Morgan Stanley in a note
The Reserve Bank of India (RBI) will announce its bi-monthly monetary policy on 2nd December. There are several voices from India Inc seeking a rate cut from the RBI. Even Finance Minister Arun Jaitley had expressed hope that the RBI will move in the direction of making the cost of capital reasonable to help perk up economy.
“The cost of the capital must be reasonable ... If you are unable to infuse liquidity or unable to provide capital which is cheaper, then even if you have opened out (economy) that itself won’t be enough. So it is a chain of events which has to take place,” he had said.
However, Morgan Stanley, in a note says, it expect the central bank to indicate that inflation will likely transition to the 6% glide path target well ahead of the previously indicated timeline of January 2016. "Although rate action may not be
imminent, we think the key to watch will be the RBI’s language regarding its comfort about achieving its inflation target according to its pre-guided glide path – and in turn, the implications for timing of the first rate cut," it says.
RBI has kept policy rates unchanged for almost 10 months citing high inflation despite persistent demand from industry and government for a cut to boost economic activity. Inflation based on the wholesale price index (WPI) cooled to a 5-year low of 1.77% in October driven by softening prices of fuel and food items. At the same time, retail inflation, based on consumer price index (CPI), also eased to 5.52% at end of October, driven by both lower food and core inflation.
Morgan Stanley said, a part of the deceleration was expected, related to base effect – but the sequential momentum has also moderated sharply. Actual data have surprised positively thanks to faster-than-expected moderation in food inflation and non-food inflation, reflecting the fast pace of deceleration in rural wage growth and commodity prices over the last three months.
Morgan Stanley said, it believes RBI is likely to keep policy rates on hold on 2nd December. "We assign a very low probability to a rate cut in that meeting. However, we believe that key to watch will be the RBI’s language regarding its comfort about achieving its inflation target according to its pre-guided glide path – and in turn, the implications for timing of the first rate cut. Indeed, we expect the RBI to indicate that inflation will likely transition to the 6% glide path target well ahead of the previously indicated timeline of January 2016," it added.