The technical textile segment in India has in recent years shown robust growth, both internationally and in the domestic market, and the market is likely to double in the next five years, said Rachna Shah, Secretary, Ministry of Textiles. “Within India, the market size is around USD 22 billion, and the goal of the government […]
According to a credit research company, Japan will see a price hike on 30,009 food and beverage products by October as the country’s currency Yen weakens as well as weaker Yen pushing up import prices, Kyodo News Agency reported. Adding that, the company also cited another reason to be a surge in electricity and labour […]
India’s overall oilmeal exports rose 19 per cent on a yearly basis during the first quarter of the financial year 2023-2024 to 1.21 million tonne, according to the Solvent Extractors’ Association of India (SEA) data. In June, exports were, however, 35 per cent lower. In the same quarter of 2022, the total oilmeal exports were […]
The rating agency Icra estimated pan-India premium hotel occupancy at 70 to 72 per cent in FY2024, after recovering to 68 to 70 per cent in FY2023. Pan-India premium hotel average room rates (ARRs) are expected to be at Rs 6,000 to 6,200 in FY2024. While the occupancy is expected to be at decadal highs, […]
The Indian economy has carried the momentum from the past year into the current fiscal year and there has been no evidence by far that suggests a slowdown in the current financial year 2023-24, said the Department of Economic Affairs under Ministry of Finance in its monthly review report. According to the provisional estimates released […]
Oil prices experienced a decline in early Asian trade on Monday as global macroeconomic uncertainties and the possibility of further interest rate hikes by the US Federal Reserve offset predictions of tighter supplies resulting from OPEC+ cuts. Brent crude futures dropped by 20 cents, or 0.3 per cent, to USD 75.21 a barrel at 0044 […]
Hero MotoCorp has confirmed that it will implement a price hike on its motorcycles and scooters from 3 July. The company cites a multitude of factors, including the escalating input costs, as the primary reason behind the decision. This move comes after a previous price increase of approximately 2 per cent in April earlier this […]
India’s second-hand car market is projected to grow by 80 lakh units by FY2027, with non-metro cities following suit. Currently, the demand for used cars is 40 per cent in tier-2 cities and 25 per cent in tier-3 cities. This overall contribution of 65 per cent is slated to reach 75 per cent in the […]
Residential real estate developers across top cities in India are expected to clock 8-10 per cent sales growth this 2023-24 fiscal despite rise in interest rates and asset price, said Crisil Ratings in a report. Buoyant residential demand across the mid, premium, and luxury segments had resulted in robust sales growth in the past two […]
India will soon overtake China as the largest driver of global oil demand, International Energy Agency (IEA) chief Fatih Birol said on Wednesday, according to Reuters. Birol made this statement during a G20 event in New Delhi, emphasizing the “rapid growth of electrification in cars and buses in China as one of the reasons behind […]
