Less than 3 per cent of India’s population, or 3.4 crore people, live below the USD 1.90 purchasing power parity (PPP) daily criteria for global poverty, according to data from the World Poverty Count. Further, India has seen a considerable decline in extreme poverty representing a 3 per cent decrease from 4 crore in 2023 […]
India’s GDP grew at a massive 8.4 per cent during the October-December quarter of the current financial year 2023-24 and the country continued to remain the fastest-growing major economy. The Indian economy grew 7.8 per cent and 7.6 per cent during the preceding two quarters – April-June and July-September, data released by the Ministry of […]
Intact consumption story will create more avenues for employment, an industry body PHDCCI said. Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry, appreciates the efforts of the Government for providing a strong push to India’s consumption story in the post-pandemic years. According to the Household Consumption Expenditure Survey, the per capita consumption spending has […]
The Household Consumption Expenditure Survey reveals a shift in spending patterns among Indians, with a decrease in expenditure on essential staples like rice and wheat and an increase in discretionary items such as processed foods, along with durable goods like televisions and refrigerators. According to the data, average rural consumer spending has surged to Rs […]
Commerce and Industry Minister Piyush Goyal on Wednesday, emphasised India’s commitment to fair and open negotiations in trade and investment agreements, ensuring the interests of the people are safeguarded. Speaking at the CII India-Europe conclave, Goyal mentioned that countries engaging in Free Trade Agreements (FTAs) and investment pacts with India should recognise the substantial market […]
Retail firms across the country reported a 5 per cent increase in sales in January 2024 as compared to January 2023, according to a poll conducted by the Retailers Association of India (RAI), West India had the greatest growth rate of 6 per cent, followed by North and South India at 5 per cent each and East India […]
Malabar Gold & Diamonds, four other jewellery companies and fashion accessory manufacturer Titan have reached the global list of top-100 luxury brands. Malabar Gold topped the domestic contingent, ranking 19th as the top Indian international jewellery brand, followed by Tata Group company Titan Company in 24th place. Kalyan Jewellers and Joy Alukkas are ranked 46th and […]
Lifestyle inflation, in which customers shift to higher-end items, has outpaced price increases in necessities every year since FY18. While lifestyle inflation is a reflection of demand that is often controlled by policy rates, price increases in critical goods are a supply-driven phenomena that requires focused government intervention. According to a research by the Bank […]
Appliance maker Whirlpool is selling a 24 per cent stake in its Indian unit this week for up to USD 451 million via stock market deals, according to a term sheet seen by Reuters, amid record stock markets in the country. Whirlpool plans to sell the stake at a price of Rs 1,230, a 7 […]
Retail sales in the United States declined more than expected in January, dragged down by lower receipts at auto dealerships and petrol stations. Retail sales fell 0.8 per cent last month, according to the Commerce Department’s Census Bureau, with winter storms likely contributing to the decline. Data for December was revised down, with sales gaining […]
