For the first time since the global financial crisis of 2008, global household wealth in 2022 (in US dollars) decreased on aggregate as well as on a per-adult basis, both in nominal and real terms. Wealth per adult also recorded the second-largest reduction since 2000. This was revealed in a recent Credit Suisse-UBS report by […]
Over the last 5 to 6 years, we’ve witnessed a significant surge in demand for men’s grooming in India with a current growth rate of 11- 13 per cent. The shift is driven by increased awareness among men about their appearance and grooming standards, stated Prannay Dokkania, Managing Director & COO- Lloyds Luxuries in an […]
Reliance Consumer Products Limited (RCPL), the FMCG subsidiary and wholly-owned entity of Reliance Retail Ventures Limited (RRVL), has announced the expansion of its beverage portfolio with the introduction of Campa Cricket, a lemon-flavored carbonated drink. This strategic move is a stepping stone towards RCPL’s future plans to enter the sports hydration market and compete with […]
India is getting digitally active. As per the data of the National Payments Corporation of India (NPCI), that manages real time payment platform UPI, August was a prosperous month for the Unified Payments Interface. UPI crossed 10 billion transactions in a month for the first time in August. According to the data till 30 August, […]
India’s steel-to-energy JSW Group is in early talks with Chinese automaker Leapmotor to license technology to build electric vehicles in India, according to people familiar with the discussions. Under the technology licensing agreement, JSW would use Leapmotor’s platform – the structural underpinnings of a car on which it is built – to manufacture EVs in […]
IT major HP is reportedly in talks for its application for the Production Linked Incentive Scheme 2.0 (PLI 2.0) which was recently revised by the Centre and has been receiving excellent response since then. HP’s PLI 2.0 participation was highlighted by a media report on Thursday which said the company is aiming to expand its […]
Amazon on Thursday announced a series of strategic initiatives at the fourth edition of the Amazon Smbhav Summit in New Delhi. The event brought together policy makers, industry leaders, startups, and Amazon executives to discuss ways to unlock the potential of a Digital India. Amazon’s initiatives are in line with its commitment to India’s growth […]
Global automakers are looking to turn India into an export hub, as people are shifting from local demand to pricier vehicles and that may spur more ‘India-first’ models, Nikkei Asia reported. India had already surpassed Japan and become the world’s third-largest car market and now it seems that they are turning the global manufacturers towards […]
Gulf Oil Lubricants India Limited (GOLIL) on Monday said it will acquire a controlling 51 per cent stake in Tirex Transmission Private Limited (Tirex), a manufacturer of DC fast chargers for EVs. The decision was officially approved during the Board of Directors’ meeting held on 27 August 2023. Tirex, a private company based in Ahmedabad, […]
Merchandise exports are increasingly facing headwinds from the slowdown in goods demand globally, not only in advanced economies such as the US and euro area but also from emerging markets, most importantly the Asia-Pacific, said Crisil Ratings in a report. Crisil’s report stated that exports are facing a double whammy from a fall in prices […]
