India's exports are becoming less vulnerable to changes in world demand and exchange rates, according to a publication titled 'Re-examining Narratives: A Collection of Essays', penned by chief economic advisor (CEA) V Anantha Nageswaran and his team. The publication pointed out that this conclusion has been drawn from the fact that there has been a decrease in the income elasticity of exports to 3.44 during 2009-2022, from 5.67 during 1991-2008, and in the inverse price elasticity of exports to 0.4 from 2.7. While a decline in elasticities is favourable in the presence of downside risks such as a decline in global demand and an appreciation of exchange rates, it may not be beneficial during boom periods.
Bright dreams of a new journey, desperation to stage a comeback and desire to rediscover old glory will be the dominant themes of this season's Ranji Trophy that begins at various centres across the country from Friday.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
While India should be concerned about disparities, the fact is that whereas three decades ago about half the people had incomes greater than $2.15 a day, today seven out of eight do, notes T N Ninan.
Despite multiple headwinds at the start of 2023, the Indian markets delivered a strong performance, posting 19-20 per cent growth for the year. Even as new records were set, investor sentiment remains strong going into 2024, given the lower inflation, expectations of steady to lower interest rates, higher economic growth, and strong inflows. However, the overriding concern for most brokerages is valuations.
India's mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013. MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds. By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.
US-based chipmaker Micron Technology is expecting demand for semiconductors to rise significantly in the next few years, globally and in India, as memory consumption is going up, largely driven by the widespread adoption of technologies like artificial intelligence (AI). "Memory consumption is expected to double by the end of the decade and the biggest driver in this is AI. "While it's natural to talk about compute and GPUs (graphics processing units) in the context of AI, it is not to be forgotten that the true enabler for AI is memory ... in all the AI engines that we talk about, there is a lot of need to access memory quickly," Anand Ramamoorthy, managing director, Micron Technology India, told Business Standard.
The launch coincides with the birthday of Congress Parliamentary Party Chairperson Sonia Gandhi.
The 22-time major champion Rafael Nadal addressed the prospect that 2024 could be his final year as an ATP professional, confessing that it is indeed a reality that he might hang up his racquets at the end of next season.
The BJP is the preferred choice because it offers what the Mughals and later British offered in their time: A stable polity and an environment in which business could function, explains T N Ninan.
India's electric two-wheeler (E2W) sector is expected to cross the one million mark in 2024 fuelled by rising demand, increased production, and affordability, industry experts said, even as several original equipment makers are expanding their penetration to rural areas. Improved battery technology and innovative features are also likely to fuel growth, they said. "E2W sales will breach the 1-million mark in 2024 as the demand for electric two-wheelers is expected to continue growing due to factors such as environmental awareness, government incentives, and improvements in technology," Hyder Khan, chief executive officer (CEO), Godawari Electric Motors, said.
Mutual funds (MFs) are seeing higher growth in new systematic investment plan (SIP) accounts in rural areas (beyond 30 or B30 centres) compared to the top 30 (T30) cities. However, the average inflows from these areas remain significantly lower than those from the larger centres. Data from the Association of Mutual Funds in India reveals that investors from B30 contributed Rs 1,725 on average to MFs through SIPs, which is 70 per cent lower than the average ticket size of T30 investors at Rs 2,940.
Dixon Technologies right now is a beehive of activity. It is building a new facility in Noida to make 1.3 million laptops for Taiwanese PC maker Acer. The facility must be up and running in four months. The pace of activity will only increase. Last week Dixon won a similar contract from Lenovo, the Chinese personal computer maker and the third largest information technology (IT) hardware brand in India, to assemble laptops and notebooks. Though the clientele in these two cases is Taiwanese and Chinese, Dixon is a company reaching for the stars with its feet planted firmly in the Indian government's policy.
Apple Inc has requested the ministry of electronics and information technology (MeitY) to give it 18 to 24 months' exemption to comply with the European Union (EU) regulation of putting an USB charging port in all its older smartphones, mainly iPhone 13 and iPhone 14, which are assembled, exported and also sold in the domestic market. Apple's stance is different from that of Samsung, which has been pushing for an immediate implementation of the EU regulation. All smartphones by the South Korean giant already comply with the EU rules.
If states have to fall in line with MSPs declared by political parties, they will have to do so in violation of central order or bear the full expense of the surplus procured at above MSP rates.
South Africa have rested batter Temba Bavuma for their home white-ball series against India this month after a poor Cricket World Cup, but he will captain the team in the two-Test series which starts on Dec. 26.
India's leading capital goods and engineering firms are in the midst of one of their busiest seasons, with the combined orderbook surging past Rs 8 trillion in value. As on September 30, 2023, 13 of India's top 15 listed capital goods and engineering firms, for which data for the September 2023 quarter was available, had a total orderbook worth Rs 8.45 trillion - a number unseen at least since 2018-19. "This intuitively looks like an all-time high factoring in inflation," said Anupama Arora, a senior independent analyst who tracks the capital goods sector.
India's import of personal computers, including laptops and tablets, shot up in September by 42 per cent to $715 million, reversing a year-long downward trend after the government announced it would impose import restrictions on such electronic hardware items in August. The rise in such imports were led by the largest source China (33 per cent) and Singapore (188 per cent), according to data released by the commerce department. On August 3, the Centre had announced it was planning to bring seven products in the information technology hardware segment, such as personal computers, micro computers, mainframe computers, super computers, computer systems and data processing units under the 'restricted' label.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
'Nearly all companies are extending festival offers for entry-level, sedan, and hatchback segments.'
Plenty happens over the show -- riots, nefarious schemes, betrayal and multiple murders -- which should have made for a riveting watch but everything evokes déjà vu and worse, sighs Deepa Gahlot.
'...by directing these draconian provisions against political and ideological opponents of the ruling group, minorities, and those who dare to dissent through and selective prosecution and prolonged incarceration as undertrials.'
Screen time, referring to the time children spend watching television or playing computer games, was found to impact the development of executive functions of brain such as working memory, planning and responding flexibly to changing situations.
Commerce and Industry Minister Piyush Goyal has visited the manufacturing facility of US-based electric vehicle major Tesla at Fremont, California and said that the company would be doubling its auto components imports from India. The minister is in the US on a four-day visit. The world's largest electric car producer Tesla Inc's chief Elon Musk met Prime Minister Narendra Modi in June in New York and after the meeting Musk had said that he planned to visit India in 2024.
Experts foresee possible scenarios: A BRS government with less majority, a BRS government with BJP and AIMIM support, or a Congress government.
'SUV is a very intensely fought category, unlike hatchbacks and cars.'
The slowdown in corporate revenue growth over the last one year has begun to reflect in India Inc's capital expenditure, or capex. The country's top listed companies are going slow on fresh investment in capacity expansion, in line with a deceleration in their top line growth. The combined fixed assets of the listed companies, excluding banking, finance services and insurance (BFSI) and the government-owned oil & gas firms, were up 10.1 per cent year-on-year (Y-o-Y) during April-September 2023 (H1FY24) - the slowest in 18 months - as against 21.1 per cent Y-o-Y growth in H2FY23 (October 2022-March 2023) and 11.6 per cent growth in the April-September 2022 period (H1FY23).
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
With the real estate sector witnessing robust demand, realtors are doling out freebies and offering a slew of attractive schemes to lure potential customers this festival season. "Developers are providing Amazon vouchers that go up to Rs 1 lakh, iPads, and flexible payment plans that propel customer excitement," said Angad Bedi, managing director at real estate company BCD Group. Bedi said customers have a mindset to go for a change during the festival season, and developers see it as an opportunity to combine it with long-term and practical offers that drive buyers to close in on a deal during this period.
The total incentive outgo under the ambitious production-linked incentive (PLI) scheme is estimated to be less than Rs. 40,000 crore by the fiscal year 2024-25 (FY25), when it completes the fourth year of implementation, according to the government's internal estimates. This means only a fourth of the allocated Rs 1.97 trillion is expected to be utilised by the end of FY24, indicating that not all the 14 PLI schemes would have taken off fully. While three of the 14 schemes - large-scale electronics manufacturing, bulk drugs, and medical devices - were introduced in 2020, the remaining were launched the following year.
Avoid relying on a bank RM for investment advice. Instead, approach a Sebi-registered investment advisor whose livelihood depends on the fee paid by his customers and not on product commissions.
'The concept of an MP IPL team is the brainchild of Kamal Nath.' 'If the Congress government comes to power in the state, he will assemble an IPL team for MP with the assistance of his business contacts.'
'This time, triumph will belong to the brother who promises a brighter future, not the one who merely remembers his sisters during elections and then vanishes.'
Tata Group is set to become India's first homegrown iPhone maker after Taiwan's Wistron Group agreed to sell a plant in Bengaluru to India's largest conglomerate. Wistron's board approved the sale of Wistron InfoComm Manufacturing (India) Private Ltd to Tata Electronics for $125 million, the Taiwanese electronics manufacturer said in a statement on Friday. The unit operates an iPhone assembly plant near Bengaluru.
A day after announcing withdrawal from its chip-making JV with Indian conglomerate Vedanta, Foxconn on Tuesday said it is working on plans to apply for incentives under semiconductor and display fab programme, as the contract manufacturer pledged its commitment to India. The Taiwanese electronics manufacturing giant said it has been actively reviewing landscape for optimal partners. The comment assumes significance as Foxconn has pulled out from the $19.5 billion semiconductor JV with Vedanta.
Since the start of this financial year (FY24), the stock of Aurobindo Pharma has been one of the top pharma gainers, enhancing investor wealth by over 68 per cent, with a third of those gains coming in the last three months. The stock is riding on multiple triggers given its investments in the production-linked incentive or PLI scheme, biosimilars, injectables and vaccines, which should drive revenues and profits over the medium term. Better than expected performance after the June quarter results led to a revision of earnings estimates for FY24 and FY25.
Smart devices maker Samsung continued to lead the smartphone market in the country for the fourth consecutive quarter in July-September with a 17.2 per cent market share, market research firm Counterpoint said on Wednesday. Shipments of iPhone maker Apple crossed 2.5 million units in the reported quarter thereby registering an all-time high in a quarter, according to the Counterpoint's Monthly India Smartphone Tracker report. "Samsung maintained its leading position for the fourth consecutive quarter with a 17.2 per cent share driven by the success of its A and M series.
Although the special relationship might compel Bhutan to be considerate of Indian interests, new challenges will likely arise. An emerging new phase of relations will also call for fresh redlines between India and Bhutan, observe Harsh V Pant and Aditya Gowdara Shivamurthy.
The government has decided to hold off introducing the production-linked incentive (PLI) scheme for additional sectors until it verifies the efficacy of existing initiatives. Top government officials have received mixed feedback on the scheme, including insights from the Economic Advisory Council to the Prime Minister, people aware of the matter said. "There are no new PLI schemes in the offing.
Making the Pixel 8 in India will not necessarily bring the price down -- witness iPhones made in India that are more expensive than those in the US and Dubai.
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