Malabar Gold & Diamonds plans to establish 10 new stores, bringing the total number of locations to 350 by March. Malabar is now the world’s sixth-largest jewellery group and ranks 19th in Deloitte’s global luxury goods list. New store openings in India include Latur, Satara, and Nagpur in Maharashtra; Kolar and Whitefield in Karnataka; Jaipur […]
Elista, a maker of electronics, home appliances, IT and mobile accessory items, has entered the air-conditioner market to meet consumers’ cooling needs as summer approaches, according to a media release. Pawan Kumar, CEO of Elista, said, “The launch of our air conditioners further strengthens our ecosystem in India.” The brand is aiming to generate sales […]
Lava International’s subsidiary SOJO Manufacturing Services (AP) has recently been approved for IT hardware manufacturing under the Centre’s production-linked incentive (PLI) scheme. The PLI will allow SOJO to manufacture consumer electronic durables such as smartphones, feature phones, accessories, tablets, laptops and other IT hardware for Lava International and other Indian and global brands. In a […]
Retailers gear up for Budget 2024, seeking tax cuts, green push and digital boost. With the expected growth rate in mind, retailers are looking forward to specific measures in the Interim Budget 2024. They are expecting government support in terms of taxes and incentives to boost the sector’s growth. “Reducing gross and services tax (GST) […]
In a move aimed at further incentivising fresh investments in the manufacturing sector and promoting ease of compliance, the Indian government is reportedly considering extending the lower tax rate of 15 per cent for companies establishing new manufacturing units. As per reports, this extension is likely to be announced in the upcoming Interim Budget scheduled […]
The Indian footwear industry has the potential to experience significant growth, expanding from its current valuation of USD 26 billion to reach USD 90 billion by 2030, according to a report by the Global Trade Research Initiative (GTRI). To achieve this, the report outlines several measures, including banning shoe imports, offering fiscal incentives, establishing more […]
Shares of state-owned defence and aerospace company Bharat Electronics hit an all-time high on Tuesday, after a series of orders the firm received over the past week. The shares closed 4.09 per cent higher at Rs 181.95 and traded at its all-time high of Rs 184.50. So far in 2023, it rose 82 per cent […]
The manufacturing sector in India has been witnessing proliferating growth in investment, depicting a crucial phase in the country’s economic arena. As per the published dossiers by the Department for Promotion of Industry and Internal Trade (DPIIT), the manufacturing sector engrossed substantial Foreign Direct Investment (FDI), with FDI equity inflows tallying around USD 17.51 billion […]
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 […]
Hon Hai Precision Industry Co., the company that manufactures iPhones, is planning to invest another NT$50 billion (USD 1.6 billion) in construction projects in India to expand its footprint in the country. The company made the announcement in an exchange filing in Taiwan on Monday, stating that the investment will be for operational needs, without […]
