In spite of a severe second wave of the coronavirus pandemic, and a widespread disruption in public life therefore, India's fast-moving consumer goods (FMGC) sector seems to have emerged as one of the most resilient segments of the economy. The early numbers and estimates for the April-June quarter indicate a steady recovery in FMCG players' business, which is now set to exceed the pre-pandemic level. Amid nationwide lockdowns because of the first Covid wave, FMCG revenues had been severely affected in mid-2020.
'The spurt in demand for Ayurvedic products has exhausted our production capacity.'
Higher prices are burdening household budgets and threatening the margins of leading manufacturers.
According to the local Brass Handicrafts Manufacturers Association (BHMA), some 800,000 people are directly employed in Moradabad's massive brass handicrafts and utensils manufacturing industry, which has some 30,000 small and micro-scale units and a total annual turnover of Rs 10,000 crore. The manufacturers are heavily dependent on export markets such as the US, Canada, Australia and the European Union. And exports account for nearly 70 per cent of their revenues. According to industry insiders, since this year's lockdowns, manufacturing has been at 65 per cent of normal levels.
'We have the technical expertise, and international collaborations. We also have robust real-time data. We are a university of pandemic management. If the ministry neglects the role of NCDC, it is the loss of the country'
The probe agency is learnt to have taken possession of multiple physical and digital records during a search operation conducted on the premises of the South Korean firm in Delhi and Mumbai this week.
The proposed e-commerce rule book issued recently by the ministry of consumer affairs does not mention foreign companies or foreign direct investment (FDI) at any place, unlike most other government guidelines for the sector so far. That is a heartening development since the latest proposals could be fine-tuned as e-commerce policy.
Sanjiv Mehta, chairman of the country's largest consumer goods company, HUL, believes that the second wave of the Covid-19 pandemic between April and June this year has been a mere pause in India's consumption story, and that it will not change the country's overall growth trajectory. India is poised for growth, especially in the fast-moving consumer goods (FMCG) sector, Mehta told shareholders at the company's annual general meeting on Tuesday. The signs of recovery are becoming evident with many states lifting lockdown restrictions in recent weeks.
'I'll give it to the vaccine manufacturers without guarantees, take the payment in advance and give me the supplies.' 'The moment you give me one lot of supply, I'll give you more.'
'Some are doing one vaccination with one mobile number and the second with another.' 'Creating more accounts will not multiply the number of slots.'
Rising prevalence of work-from-home and e-learning is driving sales of notebooks and tablets for most brands, but Apple's superior performance has more to do with its product quality.
Apple was a fringe player in all key categories like smartphones, notebooks, and tablets till recently. But with the last quarter's record-breaking performance, the brand has established itself in the country's price-sensitive consumer electronics market.
According to research firm IDC, a slowdown in smartphone shipments began showing up as early as late February, though companies insist that the March quarter was fine, albeit on a low base.
Shortage of ICU beds, oxygen, ventilators, vaccines, doctors, nurses and crematorium space in India has dominated headlines around the world in the past few weeks with Covid-19 cases surging beyond control and the government failing to deliver. Yes, election rallies, Kumbh Mela, blatant flouting of social distancing and mask protocols coupled with a messy vaccination process are said to be responsible for the health crisis of colossal proportions that India is facing today. But an analysis of Budget speeches made by finance ministers over 75 years also offers a glimpse of how low on the priority list healthcare has featured for the political class and policy-makers, which is a significant reason for the current situation.
While the record shipments reflects the prevailing mood at the time, the exponential rise in Covid cases in the country has turned the tide since.
From trucks lined up and waiting in the area to local vendors, the scenes tell a story of livelihoods stalled.
The new iMac, two iPads and iPhone 12 and 12 Mini will be open for ordering starting April 30, just like in the US, the UK, China and Japan.
Becoming a unicorn is surely a marker for a company in its growth story, but it's not a major achievement nor is it a turning point of any significant worth.
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
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