Skip to content
Search

Latest Stories

Hyundai India faces boycott calls over Pakistan partner’s tweet

Hyundai India faces boycott calls over Pakistan partner’s tweet

South Korea's Hyundai Motor faced calls on Monday (7) for a boycott of its cars from Indians incensed over a tweet from the account of its Pakistan partner that expressed solidarity for the people of Kashmir.

The row erupted last Sunday (6), a day after Pakistan marked the annual Kashmir Solidarity Day and the posts on behalf of Hyundai's partner Nishat Group appeared on Twitter, Facebook and Instagram commemorating the sacrifices of Kashmiris struggling for self-determination.

Hundreds of social media users in India, which considers Kashmir as an integral part of the country, backed calls for a boycott, saying Hyundai must apologise for being insensitive to India's position on the decades-old dispute.

Dozens of Indians posted their intention to cancel orders for Hyundai cars in order to punish the company while urging support for homegrown brands like Tata Motors and Mahindra & Mahindra.

Responding to the furore, Hyundai's India unit said it has a "zero tolerance policy towards insensitive communication and we strongly condemn any such view".

"The unsolicited social media post linking Hyundai Motor India is offending our unparalleled commitment and service to this great country," @HyundaiIndia said, adding that it stands firmly behind its "strong ethos of respecting nationalism".

Reuters requested comment from Hyundai's headquarters in Seoul and from Nishat Group, Pakistan's largest business conglomerate, but did not receive any immediate response.

Hyundai is India's second-largest car maker after Maruti Suzuki selling close to half a million vehicles in the country last fiscal year and exporting over a million units, making it India's largest car exporter.

Ashwani Mahajan, an official at the economic wing of the Rashtriya Swayamsevak Sangh (RSS) group with close ties to prime minister Narendra Modi's government said Hyundai should clarify its position on Kashmir.

"While not criticising @HyundaiPakistan Indian arm of @Hyundai_Global is not even saying that Kashmir is an integral part of India. Speaks tons about their commitment to India. Doesn't this call for #BoycottHyundai?", he said.

Indian Twitter user Ashutosh Soni said he cancelled his booking for Hyundai's Verna sedan which was due to be delivered this month and purchased a car from rival Honda Motor.

"#BoycottHyundai, that's it!", Soni tweeted from his handle @CA_AshutoshSoni last Sunday, along with a photograph of himself taking delivery of a new Honda car.

"Let's make them bankrupt. India is one of the biggest market for cars," filmmaker and social activist, Ashoke Pandit said on Twitter with a screenshot of a fall in Hyundai's share price on Monday (7).

While Hyundai's share fell 1.25 per cent on Monday, weakening more than Seoul's benchmark index, the main factors behind the drop were concerns over record numbers of Covid-19 cases in South Korea, and ongoing worries that a global chip shortage could hit production and sales.

The trouble over the social media post highlights the risks global companies face amid rising nationalism in the region.

India and Pakistan have twice gone to war over Kashmir and Modi's government has pursued a policy to combat a militant separatist insurgency that it accuses Pakistan of stoking. Islamabad denies the charge but says it provides moral and diplomatic support to the Kashmiri people.

Twitter users in India have made similar calls in the past, seeking to boycott Chinese goods in 2020 after a border clash between the two Asian giants which disrupted automobile supply chains and other industries.

Amazon.com Inc has also faced social media backlash in India after its overseas website was found selling goods with faces of Hindu gods and other sacred symbols.

(Reuters)

More For You

modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)

Key issues in India, US trade talks

TRADE talks between India and the US have hit a roadblock over disagreements on duties for auto components, steel and farm goods, Indian government sources said to Reuters, dashing hopes of reaching an interim deal ahead of president Donald Trump's July 9 deadline to impose reciprocal tariffs.

Here are the key issues at play:

Keep ReadingShow less
Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Keep ReadingShow less
Trump-Getty

Trump said that while deals are being made with some countries, others may face tariffs.

Getty Images

Trump says major trade deal with India may be finalised soon

US PRESIDENT Donald Trump on Friday said a "very big" trade deal could be finalised with India, suggesting significant movement in the ongoing negotiations between the two countries.

“We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India," Trump said at the “Big Beautiful Bill” event at the White House.

Keep ReadingShow less
Asda suffers nearly £600m loss as debt and IT costs surge

Asda co-ownerMohsin Issa. (Photo: Asda)

Asda suffers nearly £600m loss as debt and IT costs surge

ASDA, one of Britain’s largest supermarkets, has reported a pre-tax loss of £599 million for 2024, swinging sharply from a £180 million profit the previous year.

The loss comes despite total sales rising by over £1 billion to £26.8bn, as the retailer faces mounting debt costs, falling sales, and spiralling spending on a major IT overhaul, the Telegraph reported.

Keep ReadingShow less
Mounjaro

Mounjaro, or tirzepatide, is part of a new class of weight-loss medications, with trials showing patients losing an average of 20 per cent of their body weight after 72 weeks.

Reuters

Lilly to sell Mounjaro pens in India as Wegovy enters market

ELI LILLY said on Thursday that it has received approval from India's drug regulator to launch pre-filled injector pens of its weight-loss drug, Mounjaro.

The move gives the company more options to compete with Novo Nordisk, which recently launched its weight-loss drug Wegovy in the country.

Keep ReadingShow less