With November 22, 23 and 24 being among the most auspicious dates for marriage this year, hotels across the country are all booked, as are wedding-related ancillary services.
Quick commerce (Qcom) platforms are bringing upon a rapid change in the behaviours of online shoppers, with 31 per cent of buyers relying on the fast delivery option for grocery needs, according to a new study.
The Indian arm of the Norwegian investment company Orkla ASA, which owns spice brands like MTR and Eastern, is exploring the possibility of launching an initial public offering (IPO) in 2025, said a top company executive. "The ASA board just cleared the proposal. "We had done a pre-IPO study last year to understand what we need to do and based on that the board said, 'okay, let's go ahead and explore capital markets'," Sanjay Sharma, CEO, Orkla India, told Business Standard.
French wine and spirits maker Pernod Ricard expects to report low double-digit growth in India in the medium-term on the back of a strong premiumisation trend emerging in the country. "We are now the second market worldwide for Pernod Ricard and India continues to be a big growth engine for the group. "Our compoun annual growth rate (CAGR) over the past five years was 8 per cent, which is robust and was maintained at a rather high level," said Jean Touboul (pictured), chief executive officer, Pernod Ricard India.
Union Minister of Commerce and Industry Piyush Goyal's recent comments on large e-commerce players have reignited the debate about their impact on smaller offline retailers. On Wednesday, Goyal said that the rapid growth of e-commerce in India is a "cause for concern" and is diminishing the market share of small, mom-and-pop stores by offering high-margin products such as consumer electronics and apparel at discounted rates.
In the first quarter (Q1) of the ongoing financial year ending June 30, Westlife Foodworld, which operates McDonald's outlets in the South and West, reported an 88 per cent drop in net profit. While net sales remained flat, its same-store sales growth (SSSG) fell by 6.7 per cent, impacted by "subdued in-store business, although the off-premise segment saw positive same-store sales", the company said.
The Budget proposals are expected to boost the fortunes of consumer goods and fast-moving consumer goods companies, which have been struggling with poor consumer demand for more than a year. The Budget announcements, such as the increase in standard deduction by Rs 25,000 for income-tax payers and slab revisions, will put more money in their hands, boosting consumer demand. Private consumption is also likely to benefit from a new scheme to offer internships to 10 million youths in the country's top 500 companies.
The reservation would include a 10 per cent horizontal quota for Agniveers in the posts of constable, mining guard, forest guard, jail warden, and special police officers.
Raising toast to 25 successful years, India's largest wine maker Sula Vineyard is eyeing a sustained double-digit growth in revenue over the next five years, buoyed by growth in the premium and elite categories and expansion of its new ranges. It was during Covid that the vineyards shifted focus to its own brands and pivoted towards growing the premium and elite segment of the market.
Hotel rooms, usually in the range of Rs 20,000 to Rs 25,000 a night during the peak season, are now available for Rs 7,000 to Rs 10,000 a night.
The travel and tourism sector's contribution to global gross domestic product will return to pre-pandemic levels by the end of 2024, according to a new report by the World Economic Forum (WEF) on Tuesday. This recovery is driven by a considerable increase in worldwide demand, coinciding with more available flights, better international openness, and increased interest and investment in natural and cultural attractions.
India has been a tea sipping society. But the aromatic wave of coffee culture is wafting across it.
With rising incomes, education, and health awareness in India, especially in the big cities, droves of people are saying no to sugar.
India's fast-moving consumer goods (FMCG) sector witnessed growth in rural consumption in volume terms outpace urban consumption for the first time in five quarters, in the January-March period. According to a report from consumer intelligence firm NIQ, rural consumption grew at a rate of 7.6 per cent year-on-year (Y-o-Y) in Q1CY24, overtaking that in urban areas which stood at 5.7 per cent.
Japanese agri-equipment firm Kubota is taking cues from Suzuki Motor's strategy to establish India as its global production hub, according to a report by Nikkei Asia. The acquisition of Escorts in 2022, leading to the rebranding as Escorts Kubota, a prominent tractor manufacturer in India, which held the fourth-largest global market share, offered Kubota a crucial foothold in the Indian and international markets, complementing its strengths with Escorts' established presence.
'It is admitted that the AZ vaccine can, in very rare cases, cause TTS.'
MDH Spices has denied allegations that its products have traces of cancer-causing agent ethylene oxide (ETO), calling them "untrue" and "lacking any substantiating evidence." "Amid speculations doing rounds that there is presence of ETO in our products, we clarify and state unequivocally that these claims are untrue and lack any substantiating evidence," a statement released by the company said.
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
62 per cent of respondents across various demographics, including villages, towns, and cities, perceived a greater difficulty in securing employment compared to the previous five years, shows pre-poll survey by Centre for Study of Developing Societies.
As March draws to a close, two consecutive long weekend opportunities - Holi and Good Friday - are driving up hotel occupancy and airfares across major routes. According to travel platform Cleartrip, hotel bookings have seen a 3.5 times spike for the Holi weekend, while a 3.7 times spike has been visible in the Good Friday weekend.
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