Or makhni pasta? Timbits or donut holes? Time you headed to Tim Hortons.
Chinese fashion e-commerce platform Shein is expected to make a second entry into India and has tied up with Reliance Retail for this, according to a source in the know. The source said as part of the tie-up, Shein would source goods from India for its global operations. Also, the manufacturing of its products could happen in the country and they could be exported.
Demand for fast-moving consumer goods (FMCG) fell in April owing to lower stocking by kiranas, according to the data from Bizom. Kiranas stocked lower quantities in April as they resorted to heavy stocking in March. Sales in value terms were down 8.4 per cent in the month as against the same period last year while on a month-on-month basis, they declined 17 per cent.
'A weak monsoon always spells disaster. But it's too early to have a pessimistic view.'
With the Big Four information technology services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.
Nasdaq-listed information technology (IT) services firm Cognizant will incur the cost of $400 million over two years as it sets to restructure its operations amid sluggish growth rates. Its NextGen Program aims at simplifying the operating model, optimising corporate functions, and consolidating and realigning office space to reflect a post-pandemic hybrid work environment. As part of this structural shift, Cognizant will eliminate 80,000 seats, or 11 million square feet of real estate in large cities in India.
The retail industry witnessed robust top-line growth for the greater part of the previous financial year, but demand has started to show signs of fatigue seen in the January-March quarter (fourth quarter, or Q4) of 2022-23 (FY23), especially in the apparel and innerwear segments. Jewellery, however, has managed to hold on to demand in the quarter. "In the discretionary space, demand moderation in urban markets is expected to impact the quick-service restaurant and apparel categories the most, while paint, luggage, and jewellery should see resilient growth," Systematic Institutional Equities observed in its preview of the sector.
HUL believes that post Covid, the awareness about health and wellbeing and selfcare, has exploded and there is a mindset change from health as absence of disease, to health as a part of lifestyle.
With revenue growth impacted and uncertainty deepening in major markets, India's second largest IT services firm, Infosys, saw a net reduction in its headcount in the fourth quarter of financial year 2022-23 (Q4FY23). Infosys' workforce saw a net reduction of 3,611 employees, bringing its total headcount to 343,234. This was also the first time in many years that the company did not provide a hiring target for the next fiscal.
Scrutiny of Google's code of conduct in the Indian Android ecosystem is far from over with several start-ups preparing to appeal against the company's revised policies of service fee on in-app purchases and subscriptions, according to sources in the know. This comes days after the National Company Law Appellate Tribunal (NCLAT) granted partial relief to the tech giant, reversing four of the 10 key non-monetary directives that would have forced Google to allow uninstalling of its pre-installed apps on Android devices. Paytm, BharatMatrimony, and ShareChat are among the start-ups that are likely to file grievances against the tech major for alleged non-compliance with the Competition Commission of India's (CCI's) cease-and-desist order on Play Store policies.
Unilever completed one of the largest cloud migrations in the consumer goods industry, with a little help from Accenture and Microsoft, and has become a cloud-only enterprise. Accenture and Microsoft, together with their joint venture, Avanade, worked with Unilever to deliver the transformation in 18 months with minimal disruption to business operations, Accenture said in a release. The release added that it has not only helped ensure and optimise operations for Unilever but also provides a platform to drive innovation and growth.
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
Around $200 million worth of deposits of Indian start-ups have been withdrawn from Silicon Valley Bank (SVB), which was taken over by US banking regulators last week after it collapsed, and moved to the Gujarat International Finance Tec-City (GIFT City) IFSC, Rajeev Chandrasekhar, minister of state (MoS) for electronics and information technology said on Thursday. "It turns out that there was over a billion dollars of deposits of Indian start-ups in SVB. "The existential, solvency crisis that was there six-seven days ago has become much more manageable, even the short-term liquidity crisis is being addressed as the bank allows access to deposits," the minister said while speaking at Lenovo's Tech World India Edition event.
Packaged tea consumption in India has been under pressure due to inflation across the consumption basket coupled with higher tea prices. This is forcing tea drinkers to downtrade, especially in rural areas. Milk prices have also gone up and this has impacted tea consumption along with delayed winters in the north, companies have said. NIQ (formerly known as NielsenIQ) data shows that the packaged tea category grew around 4 per cent in value and volume terms in 2022 compared to 2021.
Demand for fast-moving consumer goods (FMCGs) went up last month across India, as kirana stores stocked up their shelves in anticipation of a sizzling summer, according to data by retail intelligence firm Bizom. There was a spike in beverages sales across the country despite inflation inching up in February after moderating downward previously, Bizom noted.
'When we were thinking of 'Rise Up Baby' and celebs who can stand for that, Ranveer is someone we felt completely embodies the brand philosophy and the spirit of 'Rise Up, Baby' because he is irrepressible and cannot be contained.'
The government wants a collaborative model with a public-private partnership to fact-check social media content.
'It is a sign of a bigger problem which is coming in the next six months.'
'As long as businesses do not consider cyber recovery an integral part of their enterprise IT, they remain greatly vulnerable.'
In the last 12 months, over 7,500 Indians have applied for a resident permit.
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