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 […]
Zen Diamond, a Turkish diamond jewellery business, has revealed its plans to open chain stores in major Indian cities such as Mumbai, Delhi and Bangalore, as well as build an online presence in the initial phase. Zen Diamond targets ambitious young and middle-aged consumers in India. The firm has stated that it intends to open […]
Flipkart had its best Big Billion Days (BBD) in 2023, driving Walmart’s foreign sales growth in the fourth quarter of FY24. During the quarter, the US-based retailer’s overseas sales rose 17.6 per cent year on year (YoY) to USD 32.4 billion. In constant currency terms, revenues for the category increased by 13 per cent YoY to USD 31.2 billion. Other […]
The World Health Organisation on Tuesday called on countries in the Southeast Asia Region to intensify efforts to control the use of tobacco and e-cigarettes, according to an official statement. It noted that despite the steep decline over the years, tobacco consumption in the region continues to be the highest globally and vaping is on […]
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 […]
Max Fashion plans to build more than 50 stores this year, strengthening its position in the Indian fashion industry, according to Sumit Chandna, the company’s president and deputy CEO. With ambitions to expand, its overall shop count will reach 550 by the end of this year. On Monday, the firm said that it had opened […]
India witnessed a 1.17 per cent decline in tea exports, totalling 207.14 million kilogram (kg) during the January-November period of 2023, as reported by official data. This figure marks a decrease from the 209.60 million kg exported during the same period in the previous year. According to Tea Board data, North India, primarily comprising Assam […]
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 […]
The sugar production in India experienced a decline of 2.48 per cent, totalling 22.36 million tonne until 15 February in the ongoing 2023-24 marketing year, according to the latest data released by the Indian Sugar Mills Association (ISMA). Comparatively, during the same period in the previous year, sugar production stood at 22.93 million tonne. The […]
The Indian government has once again raised the windfall tax on petroleum crude oil, this time to Rs 3,300 (USD 39.76) per metric ton, effective from 16 February 2024. This marks the second increase in two weeks, following a previous hike from Rs 1,700 to Rs 3,200 on 3 February 2024. Additionally, the government reintroduced […]
