Slowdown grounds business jets as the rich tighten purse strings

NEW DELHI : Indian industrialists looking to tighten their belts amid the economic slowdown are giving up business jets as they cut the flab. Anil Ambani’s Reliance Transport and Travels has leased one of its three business jets, a 13-seater Global 5000, to a global charter company that has stationed the aircraft in Bengaluru. “This is the […]

Auto slowdown | Millennials want gadgets over cars, says Maruti’s RC Bhargava

Ride-hailing companies such as Ola and Uber have hit demand for new cars in India as young buyers don’t need to buy cars for commuting and can spend most of their income on electronic gadgets, said RC Bhargava, chairman of Maruti Suzuki India Ltd, the country’s largest carmaker. Bhargava’s latest statement supports the contention of finance minister […]