The pharmaceutical and the consumer durables sectors, which depend on China for imports, have not been impacted yet due to unrest in China with people protesting against lockdowns. But the lockdown could have an impact on the supply of components used in consumer durables if it continues for the next fortnight. In the pharmaceutical industry, Indian players import 66-70 per cent of their bulk drug requirements from China.
What was once a solemn Vedic ritual is today a celebration for the entire extended family. And why not? With families living in distant cities, even continents, weddings are seen as an occasion for cousins and uncles to congregate under one roof for two or three days, observes Ambi Parmeswaran.
Amid the political blame game over Bengal's potato ban, which led to shortages in Jharkhand and Odisha, Uttar Pradesh farmers are the unlikely winners.
'We have reached 70 million monthly active users during this festival season, which is another great milestone for us.'
For the first time in history, the luxury car market is poised to cross the sales mark of 50,000 units in 2024, with Mercedes leading the way
Overall market reaction to the Budget was neutral. Investors absorbed the changes to the tax rates (positive for salaried class) and capital gains taxes (CGTs, negative due to the removal of indexation and increases. Other proposals largely pertain to supporting rural development, buybacks taxed as dividends, Custom duty changes that impact multiple sectors, higher outlays for clean energy, etc. There's some moderation in the growth of capex outlay across defence, fer
India's manufacturing sector saw a slower growth rate for the second straight month in May but stayed firmly in expansion mode with global sales increasing to the greatest extent in over 13 years, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 58.8 in April to 57.5 in May, signalling a slower but substantial improvement in the health of the sector. The index had climbed to a 16-year high of 59.1 in March.
'Customers are coming in; if they aren't buying, they are at least visiting the stores, which was not the case before the Budget.'
Share prices of Nestle India, Asian Paints, Bandhan Bank, Tata Technologies, AU Small Finance Bank and Avenue Supermarts, all a part of the BSE 500 index, have hit their respective 52-week lows on the BSE in Thursday's intra-day trade after a sharp correction in the equity markets.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
If one has to analyse Ashwin the cricketer, it is very difficult to ignore Ashwin, the person, who had a very independent mind and a brain that probably ticked 24x7. He believed in de-construction of his art and became craftier one ball at a time.
In FY24, loans given out by such firms had topped a whopping Rs 146,517 crore, up by 49 per cent year-on-year and spread over 10.19 million accounts (up 35 per cent).
The Department for Promotion of Industry and Internal Trade (DPIIT) has proposed to raise the minimum local content under public procurement order in government contracts. But several local suppliers and multinational companies (MNCs) are saying such a steep target is not attainable. Class-I suppliers, whose goods, services or works offered for procurement has local content equal to or more than 50 per cent may see it hiked to 70 per cent, while it may go up to 50 per cent from 20 per cent for Class-II suppliers.
The Reserve Bank of India (RBI) has recognised the Fintech Association for Consumer Empowerment (FACE) as a self-regulatory organisation (SRO) in the fintech sector, the central bank announced on Wednesday. The banking regulator received three applications for fintech SRO. Of the remaining two applications, one has been returned by the RBI with a provision for resubmission after meeting specific requirements, while the third application is still under examination, said Governor Shaktikanta Das at the Global Fintech Fest in Mumbai.
With cotton still figuring in the list of commodities that are produced using practices such as child labour, the Confederation of Indian Textile Industry (CITI) has entered into an understanding with the International Labour Organisation (ILO) to create awareness, share technical know-how and knowledge about better labour standards. These standards, which are part of ILO Fundamental Principles and Rights to Work (FPRW), will be tried on a pilot basis in major cotton-growing districts of Madhya Pradesh for one year starting in 2024.
Indian consumers are likely to get respite from rising prices just before the festival season. Some consumer companies, including automakers, have indicated that they are planning to pause price hikes just before demand picks up in August, while keeping a close eye on volatile raw material prices.
In India, the drug is not licensed for weight loss. but as anti-diabetic medication, warns Dr Chandrakant Lahariya.
'Compare the new slabs with the previous years to understand if your tax liability will increase or decrease after the Budget.'
The industry is expecting double-digit growth on a year-on-year basis, helped by a possible price correction after softening of raw material inputs and factors such as positive sentiments, pent up demand and improving economic conditions. Besides, a shift in consumer behaviour from price consciousness towards technologically advanced premium products with quality, value proposition and safety aspects leading to a rise in demand for home automation products is making the industry upbeat. With the government's production linked incentive (PLI) scheme for white goods, which has witnessed a committed investment of Rs 4,614 crore, in place, many manufacturers are gearing up to make the most out of the opportunity as well as take steps towards reducing their dependency on imports and make products more affordable.
In the first quarter (Q1) of the ongoing financial year ending June 30, Westlife Foodworld, which operates McDonald's outlets in the South and West, reported an 88 per cent drop in net profit. While net sales remained flat, its same-store sales growth (SSSG) fell by 6.7 per cent, impacted by "subdued in-store business, although the off-premise segment saw positive same-store sales", the company said.
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
Passenger vehicle retail sales in India witnessed a 5 per cent on-year decline in August on account of delayed customer purchases, poor consumer sentiment and persistent heavy rains, industry body FADA said on Thursday. The overall passenger vehicle (PV) registrations last month stood at 309,053 units, as compared to 323,720 units in August 2023.
Passenger vehicle retail sales in India witnessed a 10 per cent on-year jump in July driven by new model launches and enhanced discounts, industry body FADA said on Monday. Total passenger vehicle retail sales rose to 3,20,129 units in July, as compared to 2,90,564 units in July 2023. "Dealers reported benefits from good product availability, attractive schemes, and a wider range of products," the Federation of Automobile Dealers Associations (FADA) vice president C S Vigneshwar said in a statement.
Automobile retail sales in India declined 9 per cent year-on-year in September amid a massive buildup of passenger vehicle inventory due to sluggish demand, dealer's body FADA said on Monday, urging original equipment manufacturers to take corrective steps. The overall registrations declined to 17,23,330 units last month from 18,99,192 units in September 2023, as most of the categories including passenger vehicles and two-wheelers witnessed a year-on-year (Y-O-Y) drop.
As a consequence of prominence given to the brutality during those few days, a very important aspect of that episode got almost glossed over. This was the intervention by a very significant section of people who restored faith in humanity, and conveyed the message that only a small section of Indians, that too politically backed, were consumed by anti-Sikh majoritarianism. The overlooked facet of the events of 1984 was the story of significant sections of the city's populace, public figures and nondescript ones, stepping out hand-in-hand, to first stand with little but bravery in hands, in the way of attackers, and thereafter to provide immediate relief to those who lives were uprooted and who lost family members in the violence, recalls Nilanjan Mukhopadhyay.
Under regulatory scanner, Bengaluru-based Ola Electric has witnessed an uptick in its sales after facing a decline during the last few months. The company's daily average sales rose to 1,154 units in October, according to Vahan data from the Ministry of Road Transport and Highways (MoRTH). With sales reaching 17,315 units between October 1 and October 15, the company has also boosted its market share to 34 per cent, up from 27 per cent in September, in the electric two-wheeler (e2W) segment.
The specter of how the Munambam issue was exploited during the November by-elections is proof of the price Kerala is paying for its emergent politics. Controversies become the stuff of slow-burn and brinkmanship. The former promises mileage; the latter searches for an advantage, notes Shyam G Menon.
Tech and startup industry bodies have again pushed back against calls by telecom operators to bring over-the-top (OTT) services under a licensing regime similar to telcos, and open them up to taxation. Ahead of public consultations on the issue later this week, the Internet & Mobile Association of India (IAMAI), Nasscom and the US India Strategic Partnership Forum (USISPF), among others, have written to the government arguing against such efforts.
According to officials, Aman Preet Singh is among five people arrested as customers.
Days after saying that there is no need for subsidies to achieve greater penetration of electric vehicles (EVs), Union Minister of Road Transport and Highways Nitin Gadkari on Monday clarified that the view is his own, but any official call on EV subsidies is not one that he can take.
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
'There's significant interest from both existing and new sponsors who recognise the value of associating with Olympic athletes.'
The weight category sports at the Olympics are wrestling, boxing, taekwondo, judo and weightlifting. Most of these are combat sports and weight categories are designed to match athletes with competitors of similar size.
The ministry of information and broadcasting (I&B) on Wednesday held an inter-ministerial meeting with various departments to discuss issues regarding revenue sharing between Big Tech companies and digital news publishers, according to sources. The meeting - chaired by I&B Secretary Sanjay Jaju - invited senior officials from the ministry of corporate affairs (MCA), Competition Commission of India (CCI), ministry of electronics and information technology (Meity) and departments of promotion of industry and internal trade, legal affairs and consumer affairs.
The government proposes to cut custom duties on Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 10 per cent to nil.
Automobile (auto) retail sales in India grew by an impressive 14 per cent in July compared to the same period last year, driven by a surge in the rural economy, good product availability, and product launches. While passenger vehicles (PVs) saw a 10 per cent increase during this period, inventory levels have surged to a historic high of 67-72 days in PVs, equating to Rs 73,000 crore worth of stock, according to the Federation of Automobile Dealers Associations (Fada). This poses a risk to dealer sustainability. Inventory levels in July 2023 were only 50-55 days, equating to a stock worth Rs 49,833 crore. In June 2024, inventory was between 62 and 67 days, with a stock value of Rs 60,000 crore.
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).
An airline official said the ban is with immediate effect and is in addition to the 30-day ban it had imposed on the individual earlier.
Indian food services sector is expected to grow at a CAGR (compounded annual growth rate) of 8.1 per cent between 2024 and 2028 on the back of rapid urbanisation, robust GDP growth, a rising younger population, and greater exposure among consumers, said a new report. The India Food Services Report-2024, brought out by the National Restaurants Association of India (NRAI), states that the sector contributes 1.9 per cent to India's GDP and is projected to grow to Rs 7.76 trillion by 2028 from Rs 5.69 trillion currently.
'So, we would work with our members to ensure that we as an SRO create some sort of due diligence for fintechs.'
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