IT spending in India is projected to rise 6 per cent to $81.9 billion in 2021 compared to this year on the back of growth across segments like enterprise software and IT services, research firm Gartner said on Monday. IT spending in 2020 is expected to total $79.3 billion, down 8.4 per cent from 2019. "The COVID-19 pandemic stalled many digital transformation projects for Indian enterprises, mainly because of the market uncertainties and reduced cash flows," Gartner research vice president Arup Roy said.
Slow growth in the key sectors would have implications on the IIP number as these segments account for about 41 per cent of the total factory output.
Colgate-Palmolive India is placing greater emphasis on freshness, whitening, therapeutic, and family toothpastes, as rivals such as Dabur and Patanjali dominate the growing naturals segment of the market. Once under 5 per cent of the Rs 10,000-crore domestic toothpaste market, the naturals segment, which includes ayurvedic and herbal variants, is now 25-30 per cent of the market, industry executives said. Growth rates of the naturals segment are estimated to be in the region of 8-9 per cent in volume terms. In value terms, the growth rate for naturals is around 10-12 per cent, sector experts said.
Department of Economic Affairs secretary Atanu Chakraborty said that equity capital flows have been positive this year.
Imports too contracted by 28.72 per cent to $31.16 billion. Dip in exports and imports narrowed the trade deficit -- the difference between imports and exports -- in March to $9.76 billion, the lowest in the last 13 months.
The eight sectors, which also include fertilisers, steel, natural gas, electricity and crude oil, had expanded by 1 per cent in June last year.
Deloitte's recruitment process will involve a resume screening, a telephonic interview, and a face-to-face interview if you apply online, says Sarvesh Agrawal.
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Imports, too, grew by 41.8 per cent to $38.4 billion in August, translating into a trade deficit of $14 billion during the month, as per the data.
The trade deficit narrowed to $10.84 billion, from $12.23 billion in July.
Housing Development Finance Corp (HDFC) chairman Deepak Parekh on Tuesday said that while the country's macroeconomic fundamentals remain strong and the recovery is in progress, the unpredictability of coronavirus will remain a key challenge. Owing to the second wave, the Indian economy is likely to mirror a similar trend seen in FY21, where the first half of the financial year is weaker and the second half is significantly stronger, he said. "I remain confident that India's macroeconomic fundamentals are strong. Recovery is underway," Parekh said while addressing the 44th annual general meeting of HDFC Ltd. He said, the country's forex reserves and foreign direct investment inflows have scaled record highs, the capital markets are also buoyant and agriculture growth is expected to remain strong with food grain production estimated at over 305 million tonnes.
Sectors, which, recorded healthy export growth included electronics, engineering, chemicals, pharma and tea.
The drop was the result of the change in FDI rules, which was amplified by the border standoff between India and China.
Investor sentiment remained upbeat on narrowing trade deficit and sustained foreign fund inflows.
The bank's response came to a clarification sought by stock exchange on recent reports on debit cards blocking in the wake of suspected data breach
The issue is set to be discussed early next week as the commerce department meets with industry bodies to discuss the widening supply gap for key imports.
Forex dealers said besides strong demand for the American currency from importers, capital outflows mainly weighed on the domestic currency.
Initial share sales are set to dazzle the Dalal Street in 2022 too as companies are expected to garner up to Rs 1.5 lakh crore in the New Year, continuing with the bullish momentum after 2021 turned out to be the best IPO year in two decades for the Indian market. Excessive liquidity and increased retail investor participation ensured a persistent euphoria in the Initial Public Offer (IPO) space wherein companies mopped up more than Rs 1.2 lakh crore this year even as pandemic gloom shadowed the broader economy. In 2022, the higher amount of funds through the primary market will be largely driven by the mega IPO of state-owned Life Insurance Corp (LIC).
A total of 25,446 Chinese made electronic and Fast Moving Consumer Goods (FMCGs) were seized from the warehouse on Old Airport Road during the recent raids.
The IT ministry has now written to all these companies, warning that continued availability and operation of these banned apps, directly or indirectly, is not only illegal but also an offence under the Information Technology Act and other applicable Acts, which would attract penal provisions.
Two entities under the Union ministry of commerce report differing figures for import of cut and polished diamonds for the first eight months of the financial year.
The key sectors that received the maximum foreign investment during the nine months of the fiscal include services, computer software and hardware, telecommunications, chemicals, and the automobile industry.
There has also been a shift from hiring freshers to those with two to five years' experience.
Unless the judges factor in the ungovernability of technologies and their beneficial owners, present and future Presidents, prime ministers, judges, legislators and officials handling sensitive assignments may become redundant with reference to their age-old roles for securing 'national resources and assets', warns Dr Gopal Krishna.
Key sectors that received maximum FDI include services, computer software and hardware, telecommunications, trading, chemicals, and automobile.
Fertiliser production dropped sharply by 11.5 per cent, crude oil by 5 per cent and natural gas by 0.9 per cent in October over the year-ago month
The sharpest contraction of the American economy in a decade is expected to get worse in the second quarter. White House senior economic adviser Kevin Hassett said that they expected second-quarter negative GDP growth between minus 15 and minus 20 per cent.
Some US prominent lawmakers have urged the American government to follow suit as it is believed that the short video-sharing app is a major security risk to the country.
'We have 25,000 private hospitals participating in this exercise and if each of these hospitals does 200 vaccinations per day, that makes it 50 lakhs.'
Affordable pricing, a variety of themes, and the ease of transacting are among key reasons that have made smallcases a hit among young investors.
It's raining IPOs, with eight issues hitting the market in a span of six days. However, the pace of new filings points to a deluge during the latter part of the year. So far this year, 58 companies have filed their draft red herring prospectus (DRHP) with the market regulator for initial public offerings (IPOs), exceeding the combined tally of 50 in the last two years. Industry participants said the filing count could cross 100 this year, setting a new benchmark in terms of amount mobilised in a calendar year.
Each dept could handle a designated area.
The acquisition of Walmart India adds a strong talent pool with deep expertise in the wholesale business that will strengthen Flipkart's position to address the needs of kiranas and MSMEs uniquely.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
Increase in gold imports pushed the country's trade deficit to a five-month high of $ 15.33 billion in April.
Tech Mahindra was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Infosys, HDFC, IndusInd Bank, Reliance Industries and NTPC. On the other hand, Hero MotoCorp, L&T, Maruti, UltraTech Cement and Sun Pharma led the gainers' chart.
Jio's global partnerships took shape this year when Jio Platforms, a 100 per cent subsidiary of Reliance Jio which has invested in various digital platforms, was able to woo a bevy of marquee investors: Facebook, Google, Qualcomm, Intel, and a numerous PE funds.
Corporate India handed over an average increment of 8 per cent in 2021, and early estimates reveal that average increment for 2022 is expected to increase to 8.6 per cent in line with a healing economy and improving confidence, according to a Deloitte survey. As per the second phase of Deloitte's Workforce and Increment Trends survey 2021, 92 per cent companies gave an increment in 2021 at an average of 8 per cent, compared with only 4.4 per cent in 2020, where just 60 per cent companies had extended a pay hike. For 2022, average increment is expected to increase to 8.6 per cent, at par with the pre-pandemic levels of 2019, the survey said, adding that about 25 per cent companies surveyed have projected a double-digit increment for 2022.
GST mop-up likely to fall in May, June after touching record levels in April and March.
Apart from digital advertising revenue, both companies want to reach out to the 'next billion' Indian customers. After all, around half of the 1.3 billion population is still not on the net and this represents a challenge as well as an opportunity.
