Though leading brands like Samsung, Apple, Xiaomi, OnePlus, and Oppo managed to absorb the initial lockdown shock and resumed their local production back to 60 per cent, they would likely suffer a 20-25 per cent loss of sales in the October-December quarter.
The high court's order, which says refunds paid on service inputs can be restricted, runs contrary to Gujarat HC verdict and could complicate matters.
For India to be atmanirbhar, domestic manufacturers cannot remain merely assemblers of imported parts. Manufacturing in India cannot survive on support of imports forever.
This may leave those not opting for any of the two options offered by the Centre before the GST Council meet scheduled for October 5 in the lurch. It is clear from the present situation that these states will have to wait till June 2022 to get their compensation, subject to the council extending the cess collection period beyond June 30, 2022.
While most economies contracted in the second quarter of 2020, the Chinese economy grew by 3.2 per cent.
While other states are becoming competitive, Gujarat, say experts is not paying enough attention to maintaining its own position in terms of business reforms.
After six weeks into the second half, the faltering offline channel, which traditionally rakes in 60 per cent of sales for the market, has become the biggest hurdle towards the path of revival.
The McKinsey report said faster employment growth at 12 million non-farm jobs annually is needed in the post-Covid period till 2029-30, up from just four million created each year between 2012 and 2018.
Till recently, iPhone production in India was limited to older models at a lower price tag. So far, Apple has localised production of five smartphone models - iPhone SE (1st Gen), 6S, 7, XR and 11.
If imputed inflation for April and May is used, then you have inflation of over 6 per cent for two consecutive quarters, which is a worrying signal for the RBI.
From market leader HP and premium player Apple to China's Lenovo and Asus, all major brands in the market are witnessing rapid surge in the demand for notebooks.
The steep rise in prices of key components, coupled with a ban on the import of finished sets, is expected to hit prominent Chinese brands, such as OnePlus, Xiaomi, TCL, and Realme.
Streamlining its delivery network and shifting focus back to the mass segment - at a time when competitors were struggling to restore normalcy in operations due to the pandemi - aided the firm's revival.
Much of the rural recovery story is based on the premise of agriculture doing well. Even if it clocks a growth of 2.5-3 per cent this year, it is still just around 15 per cent of the overall GDP. The non-farm sector, which constitutes a bigger portion of the overall rural economy, is now hampered by disruptions and lockdowns.
Outbound shipments of engineering products in June to these nations doubled to $1.32 billion in June 2020, from $653.52 million in June 2019.
The demands from retailers are fourfold: One, allow kiranas, general trade stores, supermarkets, hypermarkets, and wholesalers to operate every day of the week till 9 pm. Two, ensure uniform and regular opening of all categories of retail. Three, hassle-free movement of goods and employees, and four, lift bans on malls in states like Maharashtra.
The ministry of health and family welfare spent Rs 3,948 crore in May this year compared to Rs 7,816 crore in the corresponding month of the previous year. On the other hand, at Rs 12,930 crore, the expenditure had risen almost 200 per cent in April against Rs 4,327 crore in the corresponding month of 2019-20.
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
It was expected that supplies from China will be back to normal by end-June as their factories are now operating at nearly 90 per cent of normal capacity. But the recent issue with shipments has placed an obstacle that manufacturers can't bypass.
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
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