In a written response to a query in the Lok Sabha, Union Minister of State for Finance, Dr. Bhagwat Kisanrao Karad, affirmed that digital payments have witnessed a substantial surge in recent years, attributing the growth to coordinated efforts by the government in collaboration with various stakeholders. According to the Minister, the total volume of […]
A report on Tuesday unveiled the immense potential of India’s ConsumerTech industry which is expected to surge in the total addressable market, reaching approximately USD 300 billion by 2027, with a compound annual growth rate (CAGR) of around 25 per cent. The driving forces behind this explosive growth are attributed to digital public infrastructure and […]
Furniture brand Pepperfry reported a revenue of Rs 272.3 crore in the fiscal year ending March 2023, reflecting a modest 10 per cent growth, signalling success in its omnichannel expansion strategy. Despite a marginal increase in total expenses to Rs 474 crore, the Mumbai-based firm narrowed its losses to Rs 187.6 crore from Rs 194 […]
Domestic electronics manufacturing has witnessed a remarkable increase in the past decade, growing by over 400 per cent to reach a staggering Rs 8.22 lakh crore in FY 2022-23. As informed by Minister of State for Electronics and IT Rajeev Chandrasekhar in the Lok Sabha, India’s domestic mobile phone manufacturing has achieved a milestone, with […]
The global smartwatch shipments increased 9 per cent in Q3 FY23 compared to same quarter last year, according to Counterpoint Research. The primary drivers of this growth were sustained strong performance of the Indian market led by Fire-Boltt as well as Huawei smartwatches. Amid a global economic slowdown, most consumer device like smartphones are […]
Amid issues such as debt and delayed payments faced by micro, small and medium enterprises (MSMEs), Godrej Capital Nirmaan has partnered with DBS Bank India, Visa, and Amazon to boost MSME growth in India. The company in a press statement stated that these collaborations are designed to aid MSMEs, offering a diverse array of value-added […]
Minister of Electronics and Information Technology, Ashwini Vaishnaw, took to social media platform X to announce achievement in the mobile industry. In a post, he revealed that the Indian mobile industry has experienced exponential growth, expanding by a remarkable factor of 20 in just nine years. Minister Vaishnaw posted on X, “Met Mobile industry to […]
Realme, the Chinese smartphone manufacturer, said it has shipped over 200 million phones since its inception just over five years ago. According to the company’s data, most of these shipments were out of China, indicating that Realme is the fifth fastest smartphone maker to reach this significant milestone. BBK Electronics, the Chinese consumer who owns […]
India’s overall exports, merchandise and services combined, in October are estimated to be USD 62.26 billion, exhibiting a positive growth of 9.43 per cent on a yearly basis, official data released on Wednesday showed. Major contributors to export growth in October 2023 include drugs and pharmaceuticals, engineering goods, electronic goods, cotton yarn/fabs/made-ups, handloom products, iron […]
The festive season in India carries substantial economic importance, driven by a thriving gifting industry. During festivals such as Diwali, New Year, and Christmas, the gifting industry witnesses substantial growth, consistently contributing to a significant portion of the gifting market. With a pre-pandemic growth rate of 40 per cent (2019-20 to 20-21) and a post-pandemic […]
