iPhone maker Apple led India market with highest revenue in 2023 for the first time while Samsung topped the chart in terms of sales volume, market research firm Counterpoint Research said on Wednesday. While India's smartphone shipments remained flat in 2023 at 152 million units, Samsung and Chinese mobile phone makers Vivo and Oppo were able to grow their shares, according to Counterpoint's Monthly India Smartphone Tracker report. "Apple's focus on India is also aiding the trend, with the brand surpassing the 10-million-unit mark in shipments and capturing the top position in revenue in a calendar year for the first time, propelled by robust demand for both its latest and older iPhones.
UTC India is playing up the umbrella brand of Carrier and OTIS to push integrated services.
US lenders represented by Glas Trust have countered Byju's founder Byju Raveendran's claim on verified debt on the company being merely around Rs 20 crore, and have said that the beleaguered edtech firm will have to pay the entire $1.2 billion Term Loan B along with interest. The founder of Think and Learn (TLPL) and owner of Byju's brand, Byju Raveendran, had about a week ago said that verified debt on the company is only Rs 20 crore as per insolvency proceedings and he may not have to pay any money to the US lenders represented by Glas Trust.
The Opposition on Tuesday termed the Union Budget as a 'kursi bachao budget' driven by political compulsions and claimed that it ignored opposition-ruled states in a bid to 'appease' Bharatiya Janata Party's allies.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
After weeks of organisational shakeup, Tata Digital's new chief executive Naveen Tahilyani has come up with a revamped executive team for the Neu super app. Tahilyani announced his A-team in an internal mail to employees. The focus of the rejig has been to streamline the structure of the leadership and make the firm nimble and business focused.
Watches, pens, shawls, shirts or even shoes, the former finance minister had a penchant for all of them and his collection consisted of the choicest of brands ranging from "Patek Phillipe (in watches) to Mont Blanc (in pens)".
Will Hindus not vote for a Muslim candidate? Is that why such few Muslims are given tickets? Two constituencies in Mumbai break prevalent stereotypes about these difficult questions.
Vantika Agrawal, 21, is aiming to become a Grandmaster, which could happen as early as next year.
Fresh meat and seafood delivery unicorn Licious is intensifying its talent acquisition endeavours as it pursues profitability and readies for an initial public offering (IPO) within the next 24 months. Delightful Gourmet, Licious' parent company, has named 39-year-old Karishma Gupta as its new chief financial officer (CFO). Her appointment aligns with Licious' drive for profitable growth through an omnichannel strategy.
MotherCare, the baby and maternity clothes retailer that annually sourced garments worth Rs 100 crore from a single exporter in Tirupur, filed for bankruptcy in the UK and will close all its 79 shops in that country. It was the latest world-famous brand to pull down Tirupur's fortunes.
Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.
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.
Call Me Bae is a spirited new addition in guilty pleasures for the fashion-loving, rom-com starved soul, applauds Sukanya Verma.
Traders caution that branded jewellery customers may start opting for substitutes as high prices of previous metals and stones have already made buying any luxury items unaffordable for most of the middle class.
Brand Finance, headquartered in London, first issued its global report into the relative equity of the 250 top global brands back in 2007.
Under political fire and ecologists' ire, the group hires Suhel Seth, who will work closely with the promoters and the social media, corporate communications and external public relations team.
Adding petrol and diesel to GST was a challenging task due to their significant role as revenue generators for both the central and state governments.
Milk supplies could improve with the monsoon, provided the rains are not excessive.
According to sources, there is a proposal to allow 100 per cent Foreign Direct Investment in single brand retail sector "through automatic route" with certain conditions.
'On the final product, there can be an increase of a minimum of 10 per cent in February and March.'
Britain's wealthiest family, the Hindujas, have said they were 'appalled' by a Swiss court's ruling of jail terms for some members and have filed an appeal in a higher court challenging the verdict finding them guilty of exploiting vulnerable domestic workers from India at their villa in Geneva.
'The estimated expenditure is expected to be more than double the Rs 60,000 crore spent in 2019'
'We are seeing one of the highest discounts in recent years across companies.' 'October is a crucial month with several festivals coming up.'
Muthoot Finance Recently received in-principle approval from RBI to set up White Label ATMs. The company has already chalked out setting up 1,000 such ATMs in the first year and another 8,000 in the next two years.
The finance ministry has given its consent to the draft Cabinet note on opening the multi-brand retail to foreign investment, an official said.
After a sharp rally in the equities market this year, investors could be better off rotating some funds towards the debt market. Experts believe several tailwinds could spur bond market returns over the next 12-18 months. These include India's robust macroeconomics, declining inflation, and the imminent passive flows of close to Rs 2.5 trillion on account of domestic sovereign bonds getting included in the JP Morgan global indices.
India's real estate market is poised for growth across categories - residential, commercial, and rental. Currently valued at Rs 24 trillion, or about $300 billion, it is projected to surge to $1.3 trillion by 2034, and then grow further to $5.17 trillion by 2047, indicates a report by the Confederation of Real Estate Developers Associations of India (Credai).
The cost of branded garments and made-up textiles will go up by 10-15 per cent with imposition of excise duties as proposed in the Budget.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
The international community counts a lot on India's leadership of the G-20 at a time when the world is faced with the continued economic slowdown and social distress, the chief of the International Monetary Fund Kristalina Georgieva has said. "India, which is the president of G-20 countries, remains among the countries that perform better than the global average and by a good percentage," IMF managing director Kristalina Georgieva told reporters during a media roundtable on Thursday. India formally assumed the G20 (Group of 20) Presidency on December 1.
The govt could allow start-ups and e-commerce cos to appropriate initial brand building expenses over several years for accounting benefits
Led by a new generation of entrepreneurs, India's family offices are shifting from traditional investments in physical and tangible assets like real estate to investing in technology, healthcare, and retail stocks. This new wave of family offices is engaging in stock market investments, including pre-IPO placements and secondary market operations. "Born into a world of technology, the next generation, especially those born after 2000, view technology as equally crucial as finance for running a business.
The government will formulate a strategy to make India self-reliant in edible oils by boosting domestic output of oilseeds and launch a comprehensive programme to support dairy farmers, Finance Minister Nirmala Sitharaman announced on Thursday. India imports a large quantity of edible oils to meet the domestic demand. During the 2022-23 marketing year (November-October), the country imported nearly 165 lakh tonnes of cooking oils, valuing a whopping Rs 1.38 lakh crore.
The coaching-tuition-profiteering model built on the back of a broken education system is a scandal and an abomination, and must go, asserts Shekhar Gupta.
Oil Minister M Veerappa Moily has asked the finance ministry to cut duties on branded petrol and diesel that offer better mileage and help cut fuel consumption.
The trademarks/brands on the block include Fly Kingfisher, Flying Models, Funliner, Fly the Good Times, Kingfisher and Flying Bird Device.
The mutual fund (MF) industry has seen a fair number of new entrants in the last 10 years but none of them have proved to be much of a challenge for the larger players. The list of top 20 fund houses, which manage over 90 per cent of the industry's total assets, continues to be dominated by players who have been in the business for more than a decade. Bajaj Finserv MF may change that, say experts.
