News In Numbers: July 29
The last reign of Japan’s Toyota as the world’s largest automaker by sales. On Wednesday, this ended when the numbers for the first half of 2015 were released, and Volkswagen leapfrogged Toyota to the top slot. Toyota was also number one from 2008 to 2010, before ceding it for a year to General Motors in 2011. In India, however, none of the top three global makers dominate the pecking order, which is led by Suzuki (global ranking of 9 in 2014) and Hyundai (global ranking of 4 in 2014).
The interest coverage ratio, a measure of the ability of companies to pay interest on their loans, of 4,797 companies from India — the lowest among countries surveyed by the International Monetary Fund. This effectively means the debt levels are at risk and could deteriorate further. Indian companies fared the worst in a recent stress test conducted by the IMF, indicating that borrowing costs and earnings would worsen if the dollar continues to appreciate. Elsewhere in the Indian economy, the total stressed advances at all banks in India increased to 11.1% of total advances in March 2015; as of December 2014, the infrastructure sector had the highest share in this.
The average age of startup founders in Bengaluru, according to a report by a San Francisco-based research firm. Thus, the city, sometimes termed “India’s Silicon Valley”, has the youngest entrepreneurs in the world, with an average age that is eight years less than that in Silicon Valley. Bangalore is the only Indian city to figure in this list of top 20 startup ecosystems in the world. Although Silicon Valley beat Bangalore in almost all aspects such as fund raised, number of women founders, number of employees with startup experience, the Indian city has a higher percentage of startups with at least one tech founder than the former.
Rs 32,239 crore
The loss to the government in 2014 due to counterfeiting and illicit trade in seven industries — tobacco, alcoholic beverages, auto components, computer hardware, FMCG and mobile phones — according to a FICCI report. The grey market in the tobacco industry accounted for the maximum revenue loss, nearly a quarter of the total amount mentioned above. This marks an increase of nearly 50% from 2012. Due to illicit trade, the estimated loss to these sectors increased by over 44% to Rs 1,05,381 crore in 2013-14, from Rs 72,969 crore in 2011-12.
Number of people who died in Gujarat due to incessant rains in the 48-hour period up to 4 pm on Tuesday. Banaskantha district was the worst affected, accounting for eight deaths. The National Disaster Response Force has shifted around 1,000 people to safer locations. Gujarat has received over half its average annual rainfall, of which 25% was reported in just five days till Tuesday. Last month, around 50 people reportedly lost their lives due to heavy rains in the state, with the Saurashtra region being the worst affected.
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