8MAY 2024ASHOK LEYLAND TO LAUNCH NEW VEHICLES TO BOOST THEIR MARKET SHAREAshok Leyland, the main company under the Hin-duja Group, plans to introduce six new light com-mercial vehicles (LCVs) weighing between 2 to 3.5 tonnes over the next year. This initiative aims to boost their LCV market share from the current 20-25 percent, according to a senior official.Amandeep Singh, president of LCV, international op-erations, defense, and power solutions at Ashok Leyland, revealed, "We have six versions of the Dost lined up for this year. We'll be unveiling one model every other month, starting at the end of this month. These models will offer different payload capacities, incorporate various technol-ogies, and cater to diverse volume needs."Singh emphasized the company's goal of achieving a 25percent market share in the short term, aiming for the next two years. He noted the market trend shifting to-wards vehicles in the 2-3.5 tonne range, which benefits Ashok Leyland. LCVs represent the largest sub-category within the light truck segment in India.In India's light truck market, Mahindra & Mahindra holds a dominant position, especially in small commercial vehicles with a gross vehicle weight (GVW) of less than two tonnes, as well as those ranging from 2 to 3.5 tonnes. While Tata Motors remains the second-largest player in the overall LCV segment by volume, it has faced challeng-es from Ashok Leyland, particularly with the Dost and Bada Dost branded light trucks in the 2-3.5 tonne catego-ry. It's worth noting that Ashok Leyland doesn't currently compete in the sub-2 tonne segment, where Tata Motors sells the Ace branded small and light trucks. TOPSTORIESUS LOSES TOP SPOT TO CHINA AS INDIA'S LARGEST TRADING PARTNERChina has once again become India's top trading part-ner, surpassing the United States for the first time in two years, according to the latest data from the Global Trade Research Initiative (GTRI). Bilateral trade between India and China in the fiscal year 2024 reached $118.4 billion, with imports increasing by 3.24percent to $101.7 billion and exports growing by 8.7percent to $16.67 billion.On the other hand, the trade relationship between In-dia and the US experienced a slight downturn. Bilateral trade in the fiscal year 2024 totaled $118.3 billion, with Indian exports declining slightly by 1.32percent to $77.5 billion and imports dropping by 20percent to $40.8 bil-lion.The economic interaction between India and China has attracted significant attention, especially due to In-dia's reliance on Chinese imports in crucial sectors such as telecommunications, pharmaceuticals, and advanced technology.The GTRI report highlighted this dependence, noting that India imported $4.2 billion worth of telecom and smartphone parts, representing 44percent of total im-ports in this category, and $3.8 billion worth of laptops and PCs, constituting 77.7percent of India's imports in this sector.
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