Sudhir Gharpure and his sales team sat chatting at a big Maruti Suzuki dealership on the outskirts of Mumbai some two hours after its doors were opened on a recent Saturday morning - not a single customer was in sight.
"There used to be close to 15-20 bookings each day, but now we're down to 3-5 on good days," said Gharpure, the general manager at the dealership.
Gharpure's experience is not an isolated one. Across India dealerships are being pushed out of business and the Indian auto sector is going through its biggest slump in nearly two decades. Passenger vehicle sales fell for eight straight months until June, and in May sales dropped 20.55% - the sharpest recorded fall in 18 years.
Preliminary data indicates passenger vehicle sales may have plunged as much as 30 percent in July. The slump in India, along with a simultaneous slide in Chinese auto sales, is a blow for automakers wrestling with higher costs driven by more stringent emission norms and a push to develop electric cars.
Unlike in China, where the plunge in cars sales has been caused largely by new emissions rules, India has seen a mix of factors that have combined to erode demand for automobiles.
Prime Minister Narendra Modi's 2016 ban on high-value bank notes, higher tax rates under a new goods and services tax regime, a boom of ride-sharing firms such as Uber and Ola, and a weak rural economy have all played a role.
But many dealers and automakers agree it is a deepening liquidity crunch among India's shadow banks that has been the biggest single factor in an auto sales collapse, which some fear may lead to more than a million job losses.
Non-banking finance companies (NBFCs), or shadow banks, have dramatically slashed lending following the collapse of one of the biggest, IL&FS, in late 2018.
IL&FS, or Infrastructure Leasing & Financial Services Ltd, was a behemoth in shadow banking and its defaults and unravelling, amid fraud allegations, have dried up funding for rivals and led to a surge in their borrowing costs.
Non-bank or shadow banking firms generate credit outside traditional lenders, by means such as collective investment vehicles, broker-dealers or funds that invest in bonds and money markets.
In India, NBFCs have in recent years helped fund nearly 55-60 per cent of commercial vehicles both new and used, 30 per cent of passenger cars and nearly 65 per cent of the two-wheelers in the country, according to rating agency ICRA.
To aggravate matters, the stress in the autos market has also prompted banks to begin trimming their exposure to the sector.
"The car doesn't sell, it's the finance that sells," said R. Vijayaraghavan, a senior marketing consultant at the same Mumbai dealership. "Today the finance is not selling, so the cars are not selling."
PROBLEMS AMPLIFIED
Some 286 dealerships have shut down in the last 18 months across India as rising costs for inventory management have made businesses unviable, according to the Federation of Automobile Dealers Association (FADA), a lobby group of auto dealers.
"The slowdown in the (NBFC) sector has dragged down vehicle sales growth," said A.M. Karthik, financial sector head at ICRA. "Now the auto slowdown is becoming more visible as the liquidity squeeze continues."
Automakers including Maruti Suzuki, Tata Motors , and Mahindra & Mahindra are feeling the heat and have either cut production or temporarily closed plants to correct mounting stocks.
According to FADA data, passenger vehicle inventories now stand at 50-60 days up from around 45 days earlier, while those of two-wheelers are even higher at 80-90 days. For commercial vehicles, inventory levels range between 45 and 50 days.
"We are asking dealers to maintain an inventory of 21 days, which is almost half of the current levels," said Ashish Kale, president of FADA.
At least four dealers from different brands said, however, there was little scope to reduce inventories as automakers were pushing them to buy stock despite there being no demand even with heavy discounting and other sops on offer.
While 70-75 per cent of car sales were previously financed in-house by NBFC or bank agents sitting at a dealership, that has fallen to about 50 per cent, say dealers, as buyers struggle to qualify under more stringent lending norms put in place by lenders that are under pressure to shore up their books.
Moreover, as many NBFCs typically lent to less creditworthy clients, banks are reticent to rush in to fill the void, as they themselves struggle to cope with an existing pile of about $150 billion in bad loans.
"The banking sector is certainly one of the factors that has affected the growth of the industry," said R.C. Bhargava, chair of Maruti Suzuki, noting interest rates for car buyers have gone up in the last 12 months despite the central bank cutting rates.
EARLY RECOVERY UNLIKELY
With the autos sector employing more than 35 million people directly and indirectly, and contributing more than 7 per cent to India's GDP and accounting for 49 per cent of its manufacturing GDP, the fallout from the autos slump is huge and presents a big challenge to Prime Minister Narendra Modi's government as it begins its second term.
The entire supply chain, from vehicle manufacturers to component makers, are bleeding amid the slump.
"I've been making my payments for the last 30 years and the lenders know me," said Adarsh Gupta, the director of finance at Autolite (India), a component manufacturing firm. "But even a two-day delay has people crying that I will default.
"I too want to pay, but because of the fall in cashflows I'm facing short-term issues and because of that it's difficult to get more financing. This is the vicious cycle we are in."
Still, automakers are hopeful of a recovery in the months ahead, helped by the September-December festive season that traditionally sees a surge in consumer spending.
"One can only wish that things improve sooner rather than later. With festive demand starting to seep through, we should start seeing a gradual improvement in sales," said P.B. Balaji, group CFO at Tata Motors.
Analysts are more sceptical though, and say without vehicle financing becoming cheaper and easier the chances for that are low. With no silver lining in sight, analysts fear bad debts could mount in the auto sector, forcing banks to further reduce their exposure.
"We see market prices and sales coming down so there may be issues," said a top official at the Indian Banks' Association. "We could see a spillover in terms of bad loans for the overall sector, but we are going to wait and watch."
Dealers said they were hopeful of tiding over the current downturn as the broader growth story for India remains intact, but there could be a lot more pain before a recovery kicks in.
"The future is going to be multi-brand car showrooms," said marketing consultant Vijayaraghavan. "That is the only way for dealerships to survive going forward as overhead costs need to be shared."
INDIA is committed to efforts to develop Jammu and Kashmir, prime minister Narendra Modi said last Friday (6), accusing Pakistan of seeking to destroy livelihoods there with April's deadly attack on tourists.
He was speaking on his first visit to the Himalayan region since Islamist attackers targeted Hindu tourists in the popular Pahalgam area, killing 26 men, triggering hostilities between the countries that ended in a ceasefire last month.
"The atmosphere of development that emerged in Jammu and Kashmir will not be hindered by the attack ... I will not let development stop here," Modi said in remarks after inaugurating infrastructure projects.
Key among these was a $5-billion rail link between the Kashmir Valley and the rest of India, which has been more than 40 years in the making and features the world's highest railway arch bridge.
Others include highways, city roads and a new medical college.
"Pakistan will never forget... its shameful loss," the prime minister told crowds.
"Friends, today's event is a grand festival of India's unity and firm resolve," Modi said after striding across the soaring bridge to formally launch it for rail traffic.
"This is a symbol and celebration of rising India," he said of the Chenab Bridge, which connects two mountains.
New Delhi calls the Chenab span the "world's highest railway arch bridge", sitting 359 metres (1,117 feet) above a river.
While several road and pipeline bridges are higher, Guinness World Records confirmed that Chenab trumps the previous highest railway bridge, the Najiehe in China.
Modi said the railway was "an extraordinary feat of architecture" that "will improve connectivity" by providing the first rail link from the Indian plains up to mountainous Kashmir.
With 36 tunnels and 943 bridges, the new railway runs for 272 km (169 miles) and connects Udhampur, Srinagar and Baramulla.
It is expected to halve the travel time between the town of Katra in the Hindu-majority Jammu region and Srinagar, the main city in Kashmir, to around three hours.
The new route will facilitate the movement of people and goods, as well as troops, that was previously possible only via treacherous mountain roads and by air.
Trains run in the Kashmir valley, but the new link is its first to the wider Indian railway network. Apart from boosting the regional economy, it is expected to help revive tourism, which plummeted after the April attack.
Pakistan's foreign ministry, in a statement, said India's "claims of development... ring hollow against the backdrop of an unprecedented military presence, suppression of fundamental freedoms, arbitrary arrests, and a concerted effort to alter the region's demography".
Around 150 people protested against the project on the outskirts of Muzaffarabad, the capital of Pakistani Kashmir.
"We want to tell India that building bridges and laying roads in the name of development will not make the people of Kashmir give up their demand for freedom," said Azir Ahmad Ghazali, who organised the rally attended by Kashmiris who fled unrest on the Indian side in the 1990s.
"In clear and unequivocal terms, we want to say to the Indian government that the people of Kashmir have never accepted India's forced rule."
More than 70 people were killed in missile, drone and artillery fire during last month's conflict.
Modi also announced further government financial support for families whose relatives were killed, or whose homes were damaged, during the brief conflict – mainly in shelling along the heavily militarised de facto border with Pakistan, known as the Line of Control.
"Their troubles are our troubles," Modi said.
Pakistan aimed to disrupt the livelihoods of the poor in Kashmir, who rely heavily on tourism, Modi said, adding that he would face down any obstacle to regional development.
Last month, Islamabad said a just and peaceful resolution of the Kashmir dispute was essential to ensure lasting peace in the region, known for its snow-topped mountains, scenic lakes, lush meadows, and tulip gardens.
The region drew more than three million visitors last year.
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Director Sukumar could reunite with Mythri for a record-breaking project with SRK
Rumours are swirling that Shah Rukh Khan may soon headline India’s most expensive film yet, with a whopping £28.5 million (₹300 crore) offer reportedly on the table. The production house behind the buzz? Mythri Movie Makers, the banner that backed Pushpa and Rangasthalam. If true, this would be SRK’s biggest payday ever.
Mythri Movie Makers eye massive collaboration with SRK for their next big ventureGetty Images
A historic pay packet or just industry chatter?
Multiple outlets suggest that Mythri is in talks with SRK for a £28.5 million (₹300 crore) deal, a figure unprecedented in Indian cinema. The film is also said to be directed by Sukumar, whose skill in bringing together commercial appeal with deep storytelling made Pushpa a national sensation.
Early reports estimate the film’s overall budget could touch £95 million (₹1,000 crore), factoring in Khan’s fee, large-scale production elements, and a full-blown pan-India marketing campaign. If accurate, this would make it the most expensive Indian film ever made, surpassing RRR, Ramayana, and Adipurush in terms of scale and ambition.
But there’s a twist: according to sources, no meeting has yet taken place between Shah Rukh and Mythri. Sources close to the actor claim he is entirely focused on King, his upcoming action film with daughter Suhana Khan and director Siddharth Anand. As per this report, SRK will only start exploring new projects towards the end of 2025.
Shah Rukh Khan may become India’s highest-paid actor with this upcoming filmGetty Images
Sukumar’s direction, Mythri’s ambition, but what’s next for SRK?
If the project with Mythri Movie Makers does move forward, it could redefine how pan-India films are conceived, taking advantage of Bollywood’s reach with South India’s storytelling prowess. Sukumar’s directorial vision paired with SRK’s stardom might be the crossover moment Indian cinema has long awaited.
However, it’s important to note that nothing has been officially announced. The speculation may be premature, especially since SRK is currently tied up with King, expected to start production in early 2026. Until he wraps that, other projects remain on hold.
Pan-India film with ₹1000 crore budget reportedly being planned with Shah Rukh KhanGetty Images
For now, fans are watching closely. Whether or not this massive collaboration materialises, the very idea that Indian cinema is inching toward £95 million (₹1,000 crore) productions, with actors commanding £28.5 million (₹300 crore) fees, is itself proof that the stakes have never been higher.
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Experience the Vibrant Spirit of odissi in Birmingham
Lovers of classical Indian dance and culture will be drawn to a mesmerising evening of performance as Odissi Sandhya takes the spotlight at The Bhavan, London, on Saturday, June 21, 2025. Located at 4A Castletown Road, London W14 9HE, The Bhavan is one of the UK's premier institutions for Indian arts, and the perfect venue to host this celebration of heritage and artistry. The event will be led by the talented dancers of Nritya Alaap, who are renowned for their commitment to preserving and promoting Odissi — one of the eight recognised classical dance forms of India.
Odissi, which originated in the temples of Odisha in eastern India, is celebrated for its lyrical grace, expressive gestures (mudras), and devotional themes rooted in mythology and poetry. Through elegant body movements, dramatic storytelling, and rhythmic footwork, the dancers convey narratives from ancient scriptures and folklore, making the performance both spiritual and artistic.
The evening will not be limited to Odissi alone. In a rare opportunity for audiences, Odissi Sandhya will also feature guest artistes performing a range of other Indian classical dance forms such as Bharatanatyam, Kathak, or Kuchipudi. Each of these styles brings its own history, technique, and regional flavour, adding depth and variety to the evening’s programme.
Nritya Alaap has built a reputation in the UK and abroad for presenting authentic Indian classical dance with contemporary relevance. Their performances not only maintain the integrity of traditional form but also connect with audiences through creativity, expression, and precision. For students, enthusiasts, and newcomers to Indian culture, this event offers an ideal entry point into the world of classical dance, performed by skilled artists who bring years of training and passion to the stage.
The Bhavan, officially known as Bharatiya Vidya Bhavan, is a cornerstone of Indian cultural education in the UK, offering classes, concerts, and exhibitions year-round. Hosting events like Odissi Sandhya underscores its role in sustaining cross-cultural appreciation and dialogue, especially in a global city like London.
Whether you're an experienced patron of the arts or someone curious to explore classical Indian traditions for the first time, this evening of dance will be a powerful reminder of how ancient art forms continue to inspire, inform, and enthral contemporary audiences.
Bryan Johnson, a 47-year-old tech entrepreneur from California, has become a prominent figure in the global longevity movement, attracting both fascination and criticism for his intense health regime. Known for creating the “Don’t Die” project, Johnson has turned his body into a human laboratory, experimenting with extreme methods to delay ageing and boost long-term health.
From tech success to health obsession
Johnson made headlines in 2013 after selling his company, Braintree, to PayPal for $800 million. Following years of depression and personal upheaval, including leaving the Church of Jesus Christ of Latter-day Saints and divorcing his wife, Johnson redirected his focus to health and longevity.
Now, he claims to live with a singular goal: to be the healthiest and most biologically youthful person alive. He documents his journey on social media, where he has 1.8 million Instagram followers, and recently appeared in the Netflix documentary Don’t Die: The Man Who Wants to Live Forever.
A day in the life of Bryan Johnson
Johnson’s daily routine is strict and meticulously planned. He wakes at 4:30am and begins his day with light therapy to regulate his circadian rhythm, followed by exercise, sauna sessions, and hyperbaric oxygen therapy. He wears a red-light cap for hair growth and consumes a carefully measured breakfast.
He takes around 40 supplements each day, including vitamin D, magnesium, creatine and collagen peptides. His calorie intake is limited to 2,250 per day, with a focus on plant-based ingredients and healthy fats such as olive oil, which he includes in his shakes and meals. His final meal is consumed at least four hours before bedtime.
His bedtime is 8:30pm, following a wind-down routine involving reading, journaling and family time. He avoids evening exercise and limits screen time in the evening to promote better sleep.
Tracking health by the numbers
Johnson tracks an extraordinary range of metrics. He takes over 33,000 internal images daily via colonoscopy, monitors his heart rate and organ performance, and even uses the presence of night-time erections as a marker of biological health. He believes these physiological signs indicate whether the body is functioning at an optimal level.
His health data includes:
Heart health comparable to a 37-year-old
Skin age estimated at 28
Lung capacity of an 18-year-old
Body fat consistently between 5 and 6 per cent
One hour of daily exercise plus several high-intensity sessions weekly
Longevity as a lifestyle
For Johnson, rejuvenation is not a hobby but a competitive pursuit. “Rejuvenation is my sport,” he explains. “I feel energetic, clear-headed and my mood is stable. That’s my reward. It’s just a really great way to navigate life.”
He argues that most people begin by criticising his lifestyle but often reconsider once they see results. “People are initially critical, then they want to feel good too – and then they change their habits.”
Despite his regimented lifestyle, Johnson makes space for community. He hosts early morning dance parties and evening gatherings to maintain social connections, which he views as essential for health and longevity. He describes socialising as “one of the most important things anyone can do.”
Parenting and personal life
Johnson shares his health principles with his teenage son, Talmage, and the pair enjoy outdoor sports such as hiking, biking and running. He has previously undergone plasma transfusions involving his son, although he has since moved on to other treatments.
He discontinued taking rapamycin after research suggested it could accelerate ageingNetflix
His approach to relationships and dating is less straightforward. He admits that his tightly structured life can make romantic partnerships difficult due to scheduling demands.
Treatments he’s abandoned
Johnson is open about treatments that have not worked. He discontinued taking rapamycin after research suggested it could accelerate ageing, despite initial promise in anti-ageing studies.
He also avoids environmental pollutants by minimising plastic use in his home and kitchen, testing water monthly for contaminants, and even manufacturing some of his own food to control for heavy metals.
A controversial but influential figure
While his methods may appear extreme, Johnson says he is motivated by a desire to avoid the health decline he experienced during his depression. “The greatest joy in my day is that I don’t feel depressed,” he says. “Even though I take so much heat in the world… I feel great, I’m having fun and I enjoy life.”
Rather than aiming to live forever, he says his focus is simply not wanting to die now. “We all want to wake up tomorrow and feel great, for our body to move, and to have no aches and pains. It’s about being your best, moment to moment.”
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Chief adviser to the government of Bangladesh Professor Muhammed Yunus speaks during a live interview at Chatham House on June 11, 2025 in London, United Kingdom. (Photo by Leon Neal/Getty Images)
BANGLADESH interim leader Muhammad Yunus said on Wednesday (11) that there was "no way" he wanted to continue in power after elections he has announced for April, the first since a mass uprising overthrew the government.
The South Asian nation of around 180 million people has been in political turmoil since a student-led revolt ousted then prime minister Sheikh Hasina in August 2024, ending her 15-year rule.
Speaking in London, Yunus, asked if he himself was seeking any political post, the 84-year-old Nobel Peace Prize winner said there was "no way", waving his hands in the air for emphasis.
"I think none of our cabinet members would like to do that, not only me", he said.
Yunus was answering questions after speaking at London's foreign policy thinktank Chatham House, the Royal Institute of International Affairs.
He also said he wanted to unveil a "big package" of proposals next month that he dubbed a "July Charter" -- one year on since the students launched the demonstrations that toppled Hasina.
"We want to say goodbye to the old Bangladesh and create a new Bangladesh", Yunus said.
The charter is being drafted by a government "consensus commission", talking to political parties to "find that which are the recommendations they will accept", he added.
Yunus has long said elections will be held before June 2026, but says the more time the interim administration had to enact reforms, the better.
But after political parties jostling for power repeatedly demanded he fix a timetable, he said earlier this month that elections would be held in April 2026.
"Our job is to make sure that the transition is managed well, and that people are happy when we hand over power to the elected government," he said.
"So we want to make sure that the election is right, that is a very critical factor for us. If the election is wrong, this thing will never be solved again".
Yunus is also expected to meet in London with Tarique Rahman, acting chairman of Bangladesh Nationalist Party, which is widely seen as likely to sweep the elections.
Rahman, 59, the son of former prime minister Khaleda Zia, has lived in London since 2008 after being sentenced in absentia under Hasina -- convictions since quashed.
He is widely expected to return to Dhaka to lead the party in polls.