HOUSEHOLD GOODS
FMCG Q1 check: Some hot, some not
Scorching summer heat and elections created a mixed quarter for consumer goods, with sales of cooling products like beverages, ice creams, talcum powder, and sunscreens rising up to 15 per cent amidst the heatwave. However, impulse snacks and single-serve beverages saw a decline due to reduced out-of-home consumption. Election restrictions impacted alcohol sales, while delayed monsoon affected insecticide sales. Last-mile servicing challenges were reported, particularly in rural areas due to the heat.
GST brought relief to households with reduction in prices: FinMin
The Goods and Services Tax (GST) has completed seven years of implementation, resulting in cheaper household items, improved tax compliance among businesses, and a wider tax base, according to the finance ministry. Since its introduction on July 1, 2017, replacing 17 local taxes, the GST has reduced tax rates on many household goods, increasing affordability for consumers.
Finance ministry lauds GST, says it reduced tax rates on household goods, brought relief to every home
The Finance Ministry on Monday praised the Goods and Services Tax (GST) system on the occasion of its seventh anniversary, highlighting its role in lowering taxes on essential items such as household appliances and mobile phones, thereby providing significant relief to households. Implemented on July 1, 2017, GST replaced approximately 17 local taxes and cesses. This year's GST Day theme is "Sashakt Vyapar Samagra Vikas" (Empowered Trade Overall Growth).
Jyothy Labs stock has earned 91% return in last one year; why analysts are bullish
Jyothy Labs will benefit from multiple growth drivers, including direct consumer sales, rising brand awareness, and expansion of modern retail.
Consumer spending on ITCs' goods rises 12 pc to Rs 32,500 crore in FY24
ITC, headquartered in Kolkata, remains optimistic about expanding its FMCG business with a strong portfolio and efficient supply chain, generating a gross revenue of Rs 69,446 crore in FY24.
Govt committed to bringing more reforms: Amit Shah
Union Home Minister Amit Shah praised PM Narendra Modi for introducing GST, leading to lower prices of household items. The NDA govt aims to implement more reforms for citizen welfare.
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Flour, TV, refrigerator, LPG become cheaper: PM Modi says GST resulted in 'significant savings' for poor, common man
Prime Minister Narendra Modi lauded the impact of Goods and Services Tax (GST) during its seven-year tenure, highlighting its role in improving the lives of 140 crore Indians. He noted GST's reduction in taxes on essential household items like flour and detergent, enhancing affordability for the common man.
FMCG spends up 18% in two years due to inflation- Kantar
Consumers have increased their spending on daily essentials, groceries, and household products by 18% in the first quarter of 2024 compared to two years ago, according to a recent Kantar report. Despite a recent softening in commodity prices, the prices for these goods remain nearly a fifth higher.
Not e-comm alone, one has to be in modern trade, in kirana stores also to build scale: Sunil D'Souza, Tata Consumer
Sunil D'Souza of Tata Consumer says today's consumer who is coming of age is the consumer who is born in a liberalised India. They have seen an India which is confident, growing with an accelerating GDP. So, these consumers are very confident of going out and spending. It is not only premiumisation, the consumer will move to value also.
Banks may not be sexy but there are pockets of value; buy dips in defence, capital goods stocks: Nitin Raheja
Nitin Raheja says the faster the growth and the better the growth, the more the capital markets are likely to trend upwards. But there would be periods of consolidation. Structurally, if you look at where we stand and capital markets being a proxy for the GDP and growth, it is a good place to be in, it is a great way to compound money.
Govt mulls more frequent job data surveys
India's Ministry of Statistics and Programme Implementation (MoSPI) is considering increasing the frequency of the Periodic Labour Force Survey (PLFS) from quarterly urban unemployment data to monthly, and shifting the release of rural employment data from annual to quarterly. Officials are also discussing revising the base year for gross domestic product (GDP) and inflation. These efforts aim to leverage technology to enhance efficiency and reduce data lag, ensuring compliance with international standards.
US factory activity slips for a second month in May, ISM says
US manufacturing activity slowed in May with new goods orders dropping significantly. Input inflation fell from mid-2022 highs.
Reality behind the 8.2% FY24 GDP growth is not as robust
The 8.2% FY24 GDP growth reflects a modest deceleration from 3QFY24 at 8.6%. Real gross value added growth slowed considerably in 4QFY24 to 6.3% from 8.3% in 1QFY24.
Charting the Global Economy: New policies considered to be trade-restrictive hit a record in 2023
The world’s three dominant economies are entering a new, combative phase as the US increasingly uses trade weapons borrowed from China’s playbook.
Supermarkets tell Britishers not to panic after survival kit advisory
UK retailers caution against bulk-buying as government advises having 3 days' worth of supplies. Andrew Opie from British Retail Consortium emphasizes most households already have enough non-perishables. Government launches 'Prepare' website for emergency preparedness.
FMCG firm PoloQueen ropes in Raveena Tandon as brand ambassador for its home care and kitchen essentials products
PoloQueen appoints Raveena Tandon as brand ambassador to boost kitchen essentials sales, emphasizing brand loyalty for household products like PoloQueen's Shudh range of dishwashing liquid and bar.
10 Best Spin Mops in India to Simplify your Home Cleaning Regimen
Through this list of the best spin mops available online in India, we delve into a range of options designed to simplify and enhance your cleaning routine. From compact and lightweight models to sturdy designs with advanced features, these spin mops offer superior dirt removal, ergonomic handling, and efficient water wringing capabilities. Whether you are tackling hardwood floors, tiles, or other surfaces, these top-rated spin mops ensure a thorough and hassle-free cleaning experience, helping you maintain a sparkling home with ease.
Why many Indian women are saying no to marriage
Today’s young women know that this patriarchal arrangement will take away their power, forcing them to share responsibility disproportionately and render them financially unequal
A big consumer tide is coming to India. Who all will rise?
India is poised to become the world's third-largest consumer market by 2026, surpassing Germany and Japan. UBS forecasts a doubling of affluent individuals with annual incomes exceeding $10,000 to 88 million by 2028. Household spending per capita in India is projected to outstrip other Asian economies, with rural and urban consumption expenditures witnessing significant growth over the past decade, according to recent reports.
Earth Day 2024: Amazing deals on e-bikes, tech, household and other eco-friendly items
Here is a list of some 'WIRED-tested' products exclusively on special offers during the auspicious occasion of Earth Day, to maintain the sustainability and green responsibility we have towards our planet.
Gold's soaring prices offer investment potential for Indians with household reserves, now a lucrative asset
Gold prices dictate investment trends globally. India's cultural affinity for gold remains strong, with rising prices encouraging more investments. The market dynamics, influenced by import-export regulations and global demand, continue to shape the gold industry.
Your household shopping bill may not come down soon
Most consumer goods companies raised prices by more than a quarter in the past two years to offset rising costs under heads such as raw materials, supply chain and energy.
India a bright spot in the Asia-Pacific region in 2023: UN’s Economic and Social Survey of Asia and the Pacific 2024
According to the Survey, released on Thursday, India’s performance in 2023 has been helped by its lack of external exposure, both to the developed world and to China. Instead, the growth drivers for the country are primarily domestic, it said.
Despite robust GDP growth, why is household spending still sluggish?
Management teams question weak growth despite fast economy post strong GDP release. Factors include investment-led recovery, falling labor share, surplus workers, capital ownership, small businesses, global commodity prices, real estate market, labor market slack, digital payments, Arthur Lewis, Simon Kuznets, India's growth model.
Mutual funds, other investment options to choose to save for retirement
The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. The advice given is based on the performance of the funds, the risk profile of the investor as well as his financial goals.
How to make up for a shortfall in financial goal value
Shannon is just a few years away from utilising the corpus to meet her cherished goal of becoming an entrepreneur. Increasing the allocation to a wealth creation asset class such as equity may expose her portfolio to more risk at this crucial stage when she is so close to the goal.
India plans new population census, economic data improvements
India's government is set to enhance economic data quality by initiating a long-awaited population census, reviving business surveys, introducing uniform base years for key indicators, and updating the inflation calculation basket. Plans also include appointing an advisory panel and adjusting consumer spending patterns in official statistics.
Poorest Indians see spending grow at a faster clip
The Household Consumption Expenditure Survey (HCES) 2022-23 reveals that per-capita spending for India's poorest households has grown faster, narrowing the spending inequality gap. Discretionary items now account for a larger share of household spending, indicating a reduction in poverty.
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