Growth

As the inflation rate declines, India has paused its interest rate hikes and there is optimism in the air that we have crossed the cyclical hump of a slowdown and should enjoy strong growth

Three hoops to jump to be convinced that torrid growth will come

As the demand has started to come back slowly, diversified group Raymond expects its growth rate to remain "at least double of inflation" this fiscal, according to Raymond Chairman and Managing Director Gautam Hari Singhania. Singhania says he is "optimistically" looking at the future with growth in mid to high teens percentage in the coming three-five years. The diversified group expects higher growth coming from its new realty business, while its lifestyle business comprising suiting and shirting verticals, gives a push to the growth. "Post Covid FY23 has been a good year for Raymonds so far. It was good for everybody. Things have turned around. I am optimistically looking at the future," Singhania told PTI. Raymond has two fundamental businesses - lifestyle and real estate. It was facing a slowdown because the middle class, which creates demand for clothing to housing and education, had a little bit of an impact on income because of the recession. "I think slowly it is startin

The firm's India business grew 17%, while the Malaysia personal care biz grew over 20% and Vietnam crossed $100 mn in revenue, with double-digit growth

Consumer durables firm Haier India aims for a 33 per cent growth in turnover to Rs 8,000 crore in 2023, helped by the expansion of its product portfolio and sales network and premiumisation, said its President Satish NS. Haier India is investing Rs 1,500 crore in the second phase of expansion at its Greater Noida facility, mostly on the backward integration and is expected to complete by 2025, which will in turn help it increase the localisation of the components. This investment is part of Haier India's earlier commitment to invest around Rs 3,100 crore. At the Greater Noida facility, Haier India manufactures refrigerators and washing machines, and in the next phase, it would have an injection moulding facility and a PCB plant. It is also mulling a compressor plant in JV for its cooling products business here. "From here we cater to domestic and export to neighbouring markets such as Sri Lanka, Nepal and Bangladesh. Going forward, the idea is to build it a hub for the domestic marke

The Indian e -grocery market, primarily dominated by slotted delivery, is set to witness growth in tier 2 and beyond regions, with horizontal players leading the way

The fragrance and flavour industry of the country is likely to grow around 12 per cent each year and touch over USD 5.2 billion in three to four years , an apex body of the industry said. This growth will be driven by factors like rising disposable incomes and changing consumer preferences, Fragrances and Flavours Association of India (FAFAI) president, Risabh Kothari, said. "The fragrance and flavour industry is growing very fast in the country. The present size of the industry is USD 3.7 billion in the country, Kothari said. The major user industries of this segment are food and beverages, personal care, homecare, pharmaceuticals and cosmetics, and these include major MNCs, domestic companies and small businesses, the FAFAI president said. Given the growing demand for natural and organic products, consumers are increasingly opting for them which present an opportunity for the fragrances and flavours industry, he stated. Coupled with this, consumers are willing to spend more on

Kant said that governments can, at best, be facilitators and catalysts, and eventually, growth has to take place through production and productivity by the private sector

IndiGo to hire 5,000-6,000 employees in FY24; Akasa Air will add 1,000 staff; Air India said it will recruit 5,100 staff including 900 pilots and 4200 trainee crew

India's partnership with the UK and the EU is significant in the global effort to make the planet safer and greener, Piyush Goyal said

Mahindra & Mahindra (M&M) on Wednesday said its total sales increased by 8 per cent to 58,801 units in February. The company's total dispatches to its dealers stood at 54,455 units in February 2022. The Mumbai-based auto major's passenger vehicle sales in the domestic market rose by 10 per cent to 30,358 units last month against 27,663 in February last year, the auto major said in a statement. Commercial vehicle sales increased to 26,193 units last month compared to 23,978 units in the year-ago period. The company said its exports last month declined 20 per cent to 2,250 units as compared with 2,814 units in the year-ago period. M&M Automotive Division President Veejay Nakra said the company continues to sell more than 30,000 SUVs per month. "Our recent launches (Thar RWD and XUV400) have received a very positive response and we see good demand across our portfolio as well. We are monitoring and taking appropriate steps on the supply chain scenario of semiconductors, which

The sector had revenues of USD 226 billion in FY22, the industry lobby said in its strategic review. The cross currency headwinds have shaved off over 2 per cent of the revenue growth

Govt capex carries capital formation

India's monetary policy panel failed in its mandate to keep inflation within the 2%-6% band, with it breaching the upper tolerance limit for three consecutive quarters to September 2022

The heavy infrastructure push in the budget will help cement demand log in the third consecutive year of growth next fiscal, taking the volume to 425 million tonne or 7-9 per cent more than the current fiscal, forecasts a report. The Union budget has allocated Rs 10 lakh crore, which is a full 33 per cent more funds than it had allocated for the current fiscal, for building key infrastructure next fiscal. However, operating margin, which has been under pressure, remains clouded with prices of key inputs--coal and pet coke remaining elevated. This will have a bearing on the credit risk profiles of players as well, Crisil said in a report on Wednesday. Cement demand grew 11 per cent on-year in the first 10 months of the current fiscal, led by rapid execution of infrastructure projects and strong traction in the real estate and rural affordable housing segments. The momentum is likely to stay healthy in the remaining months of this fiscal as it is a seasonally strong period for ...

Pakistan has to do more to ensure that the foundation for strong growth is in place, taxes are collected and are fairly distributed, and those who have more, pay more, IMF Managing Director Kristalina Georgieva has said, as the cash-starved country is engaged in "tough" talks for a bailout with the global lender to tide over the worsening economic crisis. Pakistan, which is in dire need of funds as it battles a wrenching economic crisis, has received financial assistance from the International Monetary Fund (IMF) in the past and is presently in discussions with the organisation to resume its loan programme. An agreement on the ninth review of the programme would release over USD 1.1 billion. A resumption of the IMF programme would also unlock other avenues of funding for Pakistan. Georgieva emphasised that the IMF has made "good progress" in its talks with Pakistan. "Pakistan has gone through a number of years striving to stabilise the economy and put in place a sound framework for

Despite doing better than rest of the world, inflation remains a key challenge to country's growth prospects, says

Says public sector has failed worldwide and that he strongly advocates that govt should not do business

Growth rate of new tax payers has been under pressure in recent years

Total income rises 14% to Rs 194 crore while expenses declined 4.8% to Rs 123 crore