Indian Government and Volkswagen Dispute $1.2 Billion Tax Case in Court
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Business Standard
business-standard.com

Indian Government and Volkswagen Dispute $1.2 Billion Tax Case in Court

On Thursday, the court in Mumbai, India, defended its record tax claim of $1.2 billion against Volkswagen. The Indian side argued that the German company failed to provide necessary information in a timely manner, while the automaker countered that the demand was made too late.

Since 2024, India has accused Volkswagen of understating the value of imported cars over many years and paying tariffs below established norms. This legal case poses a serious threat to the automaker, which is currently negotiating with the Indian company JSW regarding the sale of a stake in its operations in India.

Volkswagen, which holds about 2% of the market in the world's third-largest automotive market, denies all allegations. The company previously stated that this dispute was a matter of 'life or death' for its business in India and that the claimed amount was 'incredibly huge.'

The dispute over the largest ever tax claim in India for import duties resumed last week after the Bombay High Court ruled in August to hear Volkswagen's appeal because the judges were unable to issue a decision on time.

Arguments of the Parties in Court

On Thursday, Volkswagen's lawyer, Arvind Datar, told the judges that the Indian tax authorities could not audit imports for 12 years because Indian law only allows officials to audit for the last five years. Furthermore, Additional General Counsel N. Venkataraman, one of the government's leading lawyers, noted that Volkswagen had not provided the requested information on time, adding that no other car manufacturer in the country importing components had engaged in such improper conduct.

India claims that Volkswagen declared its imports as individual auto parts and paid a tariff ranging from 5% to 15%, even though it was effectively importing 'almost a whole car' in unassembled form, for which it should have paid a tax of 30–35%.

This investigation has raised concerns among foreign investors, as lengthy cases concerning import tariffs and taxes have long been an issue for companies, affecting firms such as Samsung and LG. The next hearing in this case is scheduled for next Tuesday.

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Over 100 thousand homes sold in seven cities, but unsold real estate inventory continues to grow
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www.aajtak.in

Over 100 thousand homes sold in seven cities, but unsold real estate inventory continues to grow

Signs of recovery are being observed in the country's key real estate market. Between July and September 2026, over one hundred thousand residential units were sold in seven major cities. At the same time, the number of new projects and the overall supply in the market increased during this period. This situation presents a challenge for the market in maintaining a balance between supply and demand. For potential buyers, this means having more choice, but constantly rising prices put pressure on budgets.

According to the 'ANAROCK' report on the housing market in the third quarter of 2026, approximately 100,200 apartments were sold in the seven main cities. This figure exceeds the sales volume of the previous quarter by 10% and is 3% higher than in the same period last year. The total value of all sold homes amounted to approximately 1.55 lakh crore rupees.

Return of Buyers Stimulates Sales

The report indicates that many buyers who had postponed their purchase decision in the previous quarter returned to the market in the third quarter, giving an impetus to sales in the seven key cities. Nevertheless, the sales growth of only 3% year-on-year suggests that the market is in a stage of improvement, but calling it a significant boom is premature.

Increase in Affordable Housing Supply

In the third quarter, developers also increased the pace of launching new projects: about 114,300 new homes were released onto the market, which is 18% more than in the same quarter last year. Changes also occurred in the price structure of new homes. The share of housing priced under 40 lakh rupees increased to 14%, while the share of homes priced above 2.5 crore rupees decreased from 22% to 14%. This suggests that developers have begun to consider the needs of buyers with smaller budgets, in addition to the premium segment. However, the real benefit for ordinary buyers will depend on the actual availability and location of these homes.

Rising Housing Prices Amid Increased Supply

Despite the increase in new housing supply, property prices are not showing a decline. According to ANAROCK, the average price of a home in the seven major cities reached 9,714 rupees per square foot. This represents a 7% increase compared to last year and a 1% increase compared to the previous quarter. Thus, buyers are presented with more options, but the cost of acquiring housing is increasing. Therefore, buyers should make decisions based not only on advertised prices but also by including costs for registration, taxes, finishing, and mortgage interest in their budget.

Growth in Unsold Real Estate Inventory, Greatest Pressure in Hyderabad

According to the report, the total number of homes available for sale in the seven cities increased by 12% year-on-year, reaching approximately 630,600 units. Meanwhile, the overall surplus inventory (inventory overhang) remains at about 19 months. This means that if current sales rates are maintained, selling the existing stock may take about 19 months. Hyderabad stands out among the others: the inventory overhang there is 28 months, implying that at the current sales speed, housing may sell for about 28 months. This situation requires more attention to sales rates compared to the rate of new housing input. Although a large inventory does not guarantee a drop in prices across all projects, in such markets, buyers may have the opportunity to negotiate better terms with developers by comparing the prices and features of different projects.

Growth of online trade in South Africa leaves millions of consumers behind during Black Friday
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iol.co.za

Growth of online trade in South Africa leaves millions of consumers behind during Black Friday

Despite a forecast predicting that the South African online retail market will reach 159 billion rand in 2026, most adults in the country still do not make purchases online. The report 'Online Retail in South Africa 2026,' prepared by World Wide Worx in collaboration with Mastercard, Peach Payments, and Ask Afrika, forecasts an annual growth of approximately 22.5%, with online sales expected to account for 10% of total retail turnover throughout the year.

However, consumer research underpinning this report, based on 23,910 surveys conducted in 2025, showed that 79.1% of adults in South Africa use the internet, but only 34.2% make online purchases. Ahead of Black Friday, the digital innovation agency and product consulting firm Specno warns that retailers may compete for the same customers while ignoring the barriers preventing millions of others from making their first purchase.

Joshua Harvey, CEO of Specno, believes this gap must change retailers' approach before November begins. He notes: 'The growing online market may hide how many people are still outside of it.' In his view, sellers should ask themselves whether they are making it easier for anyone to make a first online purchase, or simply offering more discounts to those who already know how to use the function.

The report identified several obstacles to wider participation, including delivery costs, minimum order requirements, unreliable delivery outside major urban centers, payment issues, data costs, and limited support in local languages.

Harvey emphasizes that a new buyer should not have to reach the final screen to find out if delivery is available in their area or what the cost is. Furthermore, if a payment fails, they need a clear answer: whether the transaction went through, if funds were debited, and what to do next. This moment can determine whether the customer trusts and continues the interaction or tries again.

Practical improvements include proactive checking of delivery availability, displaying costs before checkout, explaining payment steps in simple language, and ensuring easy access to help. Where possible, a guest checkout feature can eliminate the need to create an account, which often deters new buyers.

Harvey advises that if retailers aim to make their online sales accessible to millions of new customers across the country, they should test their purchasing journey on basic smartphones using mobile data and intermittent connections before considering increasing spending on campaigns for existing online shoppers. This involves checking whether large images slow down loading, whether promotional pop-ups obscure important information, how complex the forms are to fill out, and whether a connection drop forces the process to start over.

The consulting firm also recommends saving cart contents upon connection loss and providing a reliable way to check order status before retrying payment. Retailers should also analyze at which stage customers abandon the process on different devices and under various connection conditions, and then find out the reasons from users.

The study also questions the assumption that an app should be a priority for every retailer: in 42 out of 48 studied categories, browsers were used more than apps for shopping. Harvey asserts: 'Investments must follow the frequency and nature of customer needs. An app can provide significant convenience to someone who shops regularly, whereas a casual buyer may just need a fast mobile website.'

Harvey believes that Black Friday's effectiveness should also be assessed after the advertising traffic subsides. Accurate delivery promises, useful tracking, accessible support, and clear return procedures determine whether a new buyer returns. Retailers should track how many new customers successfully complete their orders, what support they required, and whether they will make repeat purchases in subsequent months. These metrics can show whether acquisition costs are creating long-term customer relationships.

He concludes: 'Black Friday can attract attention and secure the first sale. The experience that follows determines whether you have earned the customer.' If a package is delayed, tracking is useless and no one answers the query; the discount becomes the least memorable part of the purchase.

For South African retailers, expanding online participation starts with understanding the people whom current purchasing processes do not serve: 'Your next customer may already be online, already know your brand, and already want what you sell. The opportunity lies in removing what prevents them from buying and giving them a reason to return when the discount ends.'

Minister launches R1.2 billion land reform program to support farmers
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foodformzansi.co.za

Minister launches R1.2 billion land reform program to support farmers

The Minister of Land Reform and Rural Development, Mzwanele Nyakhontso, recently presented the Integrated Land Reform and Rural Development Support Programme (ILRRDSP) in Nyavarkha village in the Eastern Cape. The event was attended by traditional leaders, beneficiaries of the land reform, government officials, and community members. The main theme of the programme was 'From land access to sustainable livelihoods: empowering rural communities through integrated support.'

This programme provides funding, technical assistance, skills development, infrastructure support, and market access for land reform beneficiaries. For the current financial year, R1.2 billion has been allocated to this programme.

Nyakhontso emphasized the injustice of land transfer without additional support and explained how the programme will operate in such cases. He stated that transferring land without comprehensive and restorative support for recipients is not justice, but merely an empty gesture. According to him, land without the means for productive use simply perpetuates past inequalities. He added that with the launch of the Integrated Support Programme, the era of people being 'thrown onto the land without support' officially ends.

He also noted that during colonization, not only land was taken; 'when colonial invaders took our land, they did not just take the soil. They also stole livestock, which was the most important source of wealth and economic capital for our ancestors.'

All nine provinces of the country will receive funds ranging from R100 million to R170 million per financial year. Nyakhontso outlined a support system where the farmer-beneficiary goes through a single coordinated process and receives a clear plan that includes funding, technical consultation, infrastructure support, and market access. He assured that the practice of directing a farmer from one organization to another will remain in the past.

The Department has established partnerships with several financial institutions, including the Development Bank of South Africa (DBSA) and the Industrial Development Corporation (IDC), to strengthen and improve the Green Bank's blended finance scheme. Nyakhontso clarified that these are not just promises, as R500 million has already been allocated through the Green Bank's blended finance scheme. He added that the planting event held with DBSA two weeks ago confirms the programme's transition from policy to practical implementation.

He highlighted the importance of the agricultural sector and the need for the support programme to go beyond farming. Nyakhontso noted that while agriculture is the foundation, ILRRDSP covers much more than just farming. Furthermore, he reported that work is underway to accelerate the assessment and review process for submitted applications to provide results to farmer-beneficiaries as quickly as possible. He stressed the commitment to accelerating decision-making, timely notification of results, and ensuring that approved beneficiaries receive support without unnecessary delays.

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