'India easily remains one among the more attractive large economies, with high growth and stable/improving macros, as a top investment destination.' 'We are looking pretty good.'
Other than Snapdeal, the four markets are Tank Road in Delhi, Heera Panna in Mumbai, Kidderpore in Kolkata and Millennium Centre in Aizawl. Snapdeal, one of India's largest e-commerce platforms, is known as a place to purchase counterfeit watches and shoes.
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India's economic growth slipped to decade low of 5 per cent in 2012-13 and in the current fiscal it estimated to be around the same level.
Already there are offers galore for everything, from loans on lifestyle products and even homes. Confusing it is, when you have to choose from the multitude of promotional offers to get the best product. A few guidelines before you go on that festival binge.
Within six months, outlets carrying Vicks jumped from 60,000 pharmacies to 750,000 general stores. The trade boycott collapsed. Consumers were happy, finding Vicks now at every street corner. A fascinating excerpt from Gurcharan Das's Another Sort of Freedom.
'Nirmalaji must consider herself a very lucky finance minister, partly because of the government's response to covid and partly because we as a nation have done very well as an economy, post pandemic.'
The biggest risk to India's growth outlook is an escalation of geopolitical tensions, especially if these tensions spread to the Asian region, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Wednesday. Varma, in an interview to PTI, said that inflation and inflationary expectations appear to be moderating and high inflation will certainly not become the 'norm' in the country. He is cautiously optimistic about the Indian economy as after the pandemic abated, consumption demand has begun to recover though the recovery is uneven across sectors and industries.
'We have lived through 10% plus inflation in India and we are aware of the economic pitfall.' 'With the RBI now having formally adopted an inflation target range, they cannot turn a blind eye to the impending risks.'
'We have seen a host of businesses across sectors generate economic value and wealth for investors.'
Foreing investors have high hopes from India due to an uptick in the economy
Shreekant Sambrani remembers P R S 'Biki' Oberoi, personal friend and hospitality icon, who passed into the ages this week.
Congress spokesperson Abhishek Manu Singhvi cited a viral video on social media platforms, claiming that in it Modi's voice is heard in a call with BJP rebel Kripal Parmar.
All nine Adani stocks saw a rise in their share price in H1FY23, ranging from 6.1% in case of Adani Ports to 102% in case of Adani Power.
Inflation may be flirting with double-digit figures, but Indians living in metros seem to be an optimistic lot with most of them expecting the employment scenario as well as the economic conditions to improve in the near term.
Krishnamurthy Subramanian listed land, labour, law, and liquidity as the key areas of big reforms.
Zero inflation will pave way for rate cuts in the next RBI policy.
Analysts believe that the worst might be over for Indian IT and the sector might just be entering a stabilisation zone. However, they caution that it will be at least a year before tech companies start growing again, even though the Indian economy might revive earlier on the back of strong consumer demand.
The US is pressing for taxing digital economy through the 'marketing intangibles' principle and the UK through a 'user-base' principle.
Two-wheeler exports from India fell by 17.8 per cent to 3.65 million units in 2022-23 (FY23), according to data released by the Society of Indian Automobile Manufacturers (Siam) on Thursday. This decline is due to a rise in global inflation and the weakening of economies and currencies in key export markets of Africa, Latin America (LatAm), and South Asia. In contrast to FY23, two-wheeler exports from India jumped 35.4 per cent to 4.44 million units in 2021-22 (FY22).
Indian companies are planning to increase investments in the new year to expand capacity, acquire companies, and go on a hiring spree, a survey of top executives showed. They, however, cited rising costs, weak consumer demand, and increasing interest rates as major concerns for 2023 which may impact their plans.
The interim report highlights key competition issues in the e-commerce space like deep discounting, the imposition of unfair terms and conditions, the growing dependence of brick and mortar establishments on online platforms, and opaqueness in search rankings.
It's crucial for Modi to make India an easier place to do business.
Senior Executive Director & Co Head (Strategy) of Kotak Institutional Equities Sanjiv Prasad tells Prasanna D Zore/Rediff.com that even if there are a number of challenges facing the Indian equity markets, there are certain sectors that offer a ray of hope.
After one year in power, Prime Minister Narendra Modi is pretty much on the back foot, even if he continues to display bravado in his public pronouncements. He knows within his heart that he has wasted a lot of his political capital without getting much in return, says M K Venu.
Barry Eichengreen, professor of economics and political science, University of California, Berkeley, analyzes the transparency of the Reserve Bank of India, the growth rate of the Indian economy and why he feels globalisation can never be rolled back.
The Indian economy will grow at around 6.5 per cent in the current fiscal, notwithstanding high crude oil prices and increased uncertainty due climate changes, NITI Aayog member Arvind Virmani said on Thursday. Virmani also asserted that the gross household savings ratio in India has consistently gone up. In an interview with PTI, he said: "My growth projection (of India's GDP growth) is 6.5 per cent plus minus 0.5 per cent... because my experience is that the fluctuations in global GDP more or less has balanced out for us, assuming normal changes."
Pragmatism and flexibility is a virtue. An untethered and short-term approach to policymaking is a flaw, argues Mihir S Sharma.
Retail inflation fell to a 15-month low of 5.66 per cent in March, mainly due to a decline in food prices, government data showed on Wednesday. The inflation figure in March is within the RBI's comfort zone as it is below 6 per cent. The retail inflation based on Consumer Price Index (CPI) was 6.44 per cent in February 2023 and 6.95 per cent in the year-ago period.
The government hopes of registering GDP growth rate ranging between 6.1-6.7 per cent in 2013-14.
'The Fed rate will peak in the range of 5.1-5.3 per cent during the second quarter of CY23 and will most likely stay there for a while before rate cuts start in CY24.'
Small stocks of Dalal Street grappled with turbulent times in 2022 as high volatility and higher interest rate regime sapped investors' appetite for these scrips but the horizon ahead seems less cloudy for the New Year. While the 30-share Sensex scaled multiple record peaks with bluechips glittering, small stocks underperformed and the BSE smallcap index declined more than 3 per cent this year. In comparison, the BSE Sensex climbed 2,673.61 points or 4.58 per cent till December 27.
Microsoft chairman and CEO Satya Nadella on Tuesday said there is a tremendous momentum in cloud adoption, as he termed cloud a "big game changer". Nadella, who is currently in India, addressed Microsoft Future Ready Leadership Summit in Mumbai on Tuesday. He is also scheduled to visit Delhi and Bengaluru this week, and will be meeting key customers, startups, developers, educators and students during his India visit.
The Indian services sector activity fell to a six-month low in September, as new business inflows rose at the slowest rates since March, amid inflationary pressures and competitive conditions, a monthly survey said. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to 54.3 in September, from 57.2 in August, highlighting the weakest rate of expansion since March. For the fourteenth straight month, the services sector witnessed an expansion in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
Emphasising that various issues are on agenda at the G20 under India's leadership.
The development of private data sources is a hugely positive development. It should serve as a challenge to the government to improve its own record on producing timely and reliable statistics, points out T N Ninan.
The US Federal Reserve on Wednesday (local time) raised interest rates by 75 basis points (bps) or three-quarters of a percentage point in the boldest move since 1994.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Unprecedented rains and floods in the northern region in the past few days have not only caused extensive damage to lives and property but have also impacted business and commercial establishments. Vegetable prices have gone through the roof in the national capital and many other parts of the country since rains started pouring earlier this month. Traders say vegetable prices would come down only after roads open and skies clear, even as water in the fields will take time to recede.
Amazon has reclaimed the top spot as the world's most valuable brand despite its brand value falling 15 per cent this year from $350.3 billion to $299.3 billion, said a new report. According to brand valuation consultancy Brand Finance's report, "Global 500 2023", while Amazon is back at No 1, its brand value has fallen by over $50 billion this year, with its rating slipping from AAA+ to AAA. This is as consumers evaluate it more harshly in the post-pandemic world. Brand Finance's research has found that perception of customer service at Amazon has fallen - at the same time as delivery times have lengthened.
The government fully supports foreign and Indian companies in leveraging Internet as "force of good" but will take all measures to ensure that Internet remains open and is not dominated by some big corporates, Minister of State for IT Rajeev Chandrasekhar said on Wednesday. Chandrasekhar said the government wants to make sure that intermediaries and the big platforms such as Meta (formerly Facebook) and others develop a culture of mutual respect and accountability between the platform and its users. "And we also want to make sure that given that a billion Indians are going to be there... women, children, elderly, pensioners, all of them, that the internet is also safe and trusted.
