Gems and jewellery exports experienced a notable decline of 12.17 per cent during the fiscal year 2023-24, amounting to Rs 2,65,187.95 crore (USD 32,022.08 million), according to data from the Gem and Jewellery Export Promotion Council (GJEPC). This decrease is attributed to several factors, including high interest rates in the US and a sluggish recovery […]
Rareism, a women’s fashion brand, has set its sights on a substantial expansion across India, aiming to open 100 stores within the next two years, according to a recent media release. Having achieved a milestone of 30 stores, including the recent launch of its third store in Hyderabad, the brand is making significant strides towards […]
Blue-collar workers, comprising over 80 per cent of India‘s non-agricultural workforce, play a pivotal role in driving and sustaining the country’s economy across diverse sectors. McKinsey & Company forecasts that by 2030, 70 per cent of the 90 million new jobs anticipated in India will fall under the category of blue-collar roles. These positions constitute […]
Global smartphone shipments dipped 7.8 per cent year-over-year in the first quarter of 2024, according to data released today by the International Data Corporation (IDC). This decline comes despite cautious optimism expressed by major brands about a market recovery. The report, IDC’s worldwide quarterly mobile phone tracker, showed total shipments reaching 289.4 million units in […]
The travel and tourism market in India is set to generate a revenue of USD 23.72 billion in 2024, with a projected annual growth rate (CAGR 2024-2028) of 9.62 per cent, according to projections by the India Brand Equity Foundation (IBEF). This growth trajectory is expected to propel the market volume to USD 34.25 billion […]
Indian apparel retailers witnessed sluggish sales in the first quarter (January to March) of 2024, according to reports from several brokerages. This comes amidst a combination of factors including lower disposable incomes and a high sales base from the same period last year. Brokerage reports attributed the weak demand in January and February to a […]
Wholesale inflation in India, based on the Wholesale Price Index, remained in positive territory for the fifth month after remaining in the negative zone for seven months until October. The annual rate of inflation based on all India Wholesale Price Index (WPI) numbers is 0.53 per cent (Provisional) for March 2024 (over March 2023), showed […]
Gold prices have experienced a notable surge in recent weeks, with the yellow metal witnessing an increase of over 11 per cent in India alone. A recent report from Goldman Sachs highlights that this surge is not solely driven by traditional factors, indicating a shift in the dynamics of the gold market. The report underscores […]
The Ministry of Commerce and Industry has issued a directive to all ecommerce platforms to remove Bournvita and similar drinks from the “Health Drinks” category following an inquiry by the National Commission for Protection of Child Rights (NCPCR). The commission, constituted under the Commission for Protection of Child Rights (CPCR) Act, 2005, concluded that there […]
India’s retail inflation declined to 4.85 per cent in March compared to 5.09 per cent in February this year, according to government data released on Friday. The Consumer Price Index (CPI)-based retail inflation was 5.66 per cent in March last year. The National Statistical Office, under the Ministry of Statistics and Programme Implementation, on Friday […]
