India’s expanding consumer market and vast labour force can make it an alternative destination to China as part of countries’ supply chain diversification, according to Fitch Ratings. According to the global rating agency, supply chain diversification away from China presents several emerging markets with an unprecedented opportunity to deepen global supply chain participation and expand […]
Tech major Apple is reportedly on a hunt for new suppliers in India, Japan and South Korea to provide crucial components to its contract manufacturers in India, according to a latest report by the Economic Times. Apple’s search came against the backdrop of delayed approvals from the Indian government for imports from existing suppliers, primarily […]
In a strategic move to cut costs and diversify its supply chain, Walmart, the world’s largest retailer, has significantly increased its imports from India, reducing its reliance on China, according to exclusive data obtained by Reuters. Data from bill of lading figures, shared by data firm Import Yeti, reveals that Walmart shipped a quarter of […]
India’s GDP growth rate is anticipated to ascend to 7 per cent by 2026, outpacing China’s projected growth of 4.6 per cent, according to a report from S&P Global Ratings titled ‘China Slows India Grows. ‘The report foresees a shift in the growth engine of the Asia-Pacific region from China to South and Southeast Asia. […]
McDonald’s said on Monday it would acquire investment firm Carlyle’s 28 per cent stake in a partnership that manages its business in mainland China, Hong Kong and Macau, as the burger chain looks to simplify its structure in the region. The deal will help McDonald’s raise its holdings to 48 per cent, while a consortium […]
Smartphone maker Xiaomi Corp posted a forecast-beating jump in third-quarter net income on Monday, while revenue also topped estimates as flat device shipments outperformed the wider market. The company’s sales for the period totalled 70.9 billion yuan, beating an average estimate of 70.2 billion yuan from 13 analysts polled by LSEG. Net income jumped by […]
The bulk drugs segment of the Indian pharmaceutical sector is expected to see revenue grow at 6 to 8 per cent this fiscal year, helped by higher sales volume stemming from a stable growth outlook, according to a Crisil Ratings report. The bulk drug segment posted 8-10 per cent revenue growth last fiscal, mainly because […]
British luxury fashion house Burberry reported an 18 percent decline in net profit to USD 196 million for the first half ending September, citing weakened global demand for high-end clothing, particularly in China’s slowing economy. In an official statement, Burberry acknowledged the impact of the global luxury demand slowdown on current trading and expressed concerns […]
As the Diwali festivities kick off, Dhanteras emerges as a pivotal day for traders nationwide, with an estimated trade volume of Rs 50 thousand crore, predicts the National President of the Confederation of All India Traders (CAIT), BC Bhartia, and Secretary General Praveen Khandelwal. In his post on X, Praveen Khandelwal called on the people […]
Lava, the homegrown mobile phone brand, has named Sunil Raina as the interim managing director, effective immediately, following board approval. This decision follows the arrest of co-founder and managing director Hari Om Rai in a money laundering case investigated by the enforcement directorate. Upon this promotion, Raina is set to become a full-time director pending […]
