INDIAN CONSUMPTION STORIES
Modi’s Budget to send India’s soaring stocks higher: Survey
More than half of the 24 respondents estimated that the Nifty 50 Index may advance up to 26,000 points by the end of 2024, while one predicted the gauge can climb even more.
Webtoon comic app Toonsutra registers over 1 million downloads
Toonsutra aims to establish the world's largest fandom and pop culture community in India over 700 million mobile youth market. The company has partnership with some of the biggest global publishers and creators to bring over more than 550 titles and 250,000 episodes of content into local Indian languages.
ETMarkets Smart Talk: We could see tweak in corporate & personal tax to boost consumption in Budget 2024: Samir Bahl
While the expectations on overall economic growth were unchanged, FED committee members increased their inflation forecast for 2024 and 2025 and hence in June 2024, Fed kept the interest rates unchanged at 5.50%.
A pivotal event for online commerce; and other top tech, startup stories
Stay tuned to know how the latest capital infusion into Zepto impacts the workings of this fledgling sector.
India story strong but vulnerable to bit of profit taking in short term: Jonathan Schiessl
I think the underlying India story still looks very strong and so that yes, it is at the moment just the market is probably vulnerable to a bit of profit taking in the very short term.
More than 50 pc Indian households downing soft drinks; to increase with intensifying heat: Report
The average consumption of bottled soft drinks in Indian households has seen a significant rise in the past two years, crossing 50 percent annual penetration in FY24, according to the latest Kantar FMCG pulse report. This trend is projected to climb further as summer intensifies.
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ETMarkets Smart Talk: Why FIIs are turning net sellers in Indian markets and it not because of election jitteriness, explains Niraj Kumar
While the incumbent government securing its third term bodes well for market stability, it does juxtapose them with some dependency on allies for imperative policy decisions.
Services export boom is most unheralded story of India in last five years: S Naren
And I do not like to name companies, but most of the financial services companies in the world are dependent on their Indian global competency centres to do all kinds of work for them and that is the biggest positive that has happened and due credit to India for having achieved it over the last five years because 10 years back we had IT services companies, we did not have GCCs of the scale.
India story remains intact; push on infra, manufacturing to continue: Vikas Khemani
I think again within infrastructure you could see a lot more happening on the port side, lot more happening on thelogistics betterment side, that I think is a very-very critical need in terms of if India has to leapfrog from here.
Utpal Sheth on key megatrends that can shape India's future growth
“Even one megatrend will create multiple types of opportunities, multiple types of companies and business models that you will be able to participate in. I think the way the financial savings in the country will get channelised will be another megatrend,” says the CEO of Rare Enterprises.
Power a structural story; expect a lot of opportunities in this sector: Madhu Kela
I do not think the bull market is over. I am sorry I will correct you. I do not think the bull market is over. I think the easy money is over. You could buy anything and make money that is over. I think now it is a more difficult part.
View: GOI has the solution of India's economic puzzle but it needs to let go fiscal hesitations
India's economy is thriving with 8.2% GDP growth, strong public investment, and tax revenues. However, weak consumer demand and private capex remain issues. To boost growth, the government should create more public sector jobs, increasing incomes and consumption, funded by local savings.
Rural consumption and exports should do well in next 5 years: Ravi Dharamshi
Honestly if you want to make money from a five years perspective, go where nobody is looking and consumption which includes discretionary as well as non-discretionary consumption and rural consumption and exports are two areas which I think should continue to do well.
Markets can gain another 10% by year end: Samir Arora
But the bottom line is that this is a big event and the FIIs who have been selling for the last few months are not going to sell like this anymore and therefore you will be in a sweet spot where domestic guys are buying and foreigners are trying to build back their positions.
Listen closely: From Google smart speakers to Paytm soundboxes, these businesses are thriving in manufacturing
Making for others can be more lucrative than building a brand for themselves — this realisation has created a brigade of small contract manufacturers who are making India’s place prominent in the global electronics manufacturing services map.
Top startup & tech stories this week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed these stories.
India has a great story going for it; market levels very sustainable: Prateek Agrawal
We believe over the next month or so as that market tapers off, that bit of selling and the confusion that you see there would also subside.
Election outcomes won't disrupt India's economic stability: Saurabh Mukherjea
There will probably be governance continuity as well, but almost certainly there will be policy continuity and hence, my point of view to the foreign investors is, beyond a point, you should not overemphasise the elections.
A quarter of hits & a few misses; and other top tech, startup stories
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
Quick commerce 2.0, and other top tech & startup stories this week
Quick commerce, the buzziest sector in the consumer internet industry, is undergoing a significant transformation. We, at ETtech, have been tracking the sector super closely and bringing the biggest and most impactful stories to you, first.
India to emerge as third largest consumer market by 2026: Report
The Indian economy is projected to become the world's third-largest consumer market by 2026. In 2023, India experienced faster consumption growth compared to China, the US, and Germany. However, consumption growth has trailed behind investment growth since the mid-2022 post-pandemic period, according to a UBS Securities report.
Consolidation of businesses across sectors and domestic consumption will drive M&A activities: Satish Kishanchandani, Pioneer Legal
Satish Kishanchandani, managing partner of Pioneer Legal, foresees India's robust economy and focus on infrastructure boosting M&A activities, notably in automotive, infrastructure, clean energy, and healthcare sectors. Factors such as rupee stabilization, interest rates, and available investment funds will shape transactions. Regulatory reforms and investor confidence are expected catalysts for growth.
As AI boom triggers data centre growth, Schneider Electric steps up to seize the opportunity
Use of artificial intelligence has created the need for enhanced data processing capabilities, and this is leading to a surge in demand for cooling solutions, says Pankaj Sharma, EVP, Secure Power Division & Data Center Business, Schneider Electric.
If you do not treat me well as an investor, I do not care what the macro story is for India: Ajit Dayal, Quantum Advisors
Ajit Dayal of Quantum Advisors cautions about the dangers of high allocations in smallcap funds due to liquidity concerns and stresses the importance of governance in investments to ensure profitability and mitigate risks in the Indian market. Dayal also says: "European capital for India is also important and European capital is increasingly trying to find alternatives to be in other nations besides China."
Indian mkts commanding high valuations on foreign investors' optimism, trust in India growth story: Buch
Sebi chairperson Madhabi Puri Buch on Tuesday said the Indian capital markets are commanding higher valuations because of foreign investors' optimism and trust in the country.
Indian economy grows 8.4% in Q3FY24; full-year estimate up to 7.6%
The Indian economy experienced a faster-than-anticipated expansion of 8.4% in Q3FY24, pushing FY24 growth to 7.6%, up from 7.3% in January. The growth was primarily driven by investment and manufacturing, but also by a downward revision to the previous year's numbers and a boost in net taxes. The growth reached its highest level in one and a half years, with the FY23 number revised downwards to 7% from 7.2% projected earlier.
India consumption story driving mall operators, warehousing players’ growth, ICRA
Though the net absorption was healthy in the first three quarters of this financial year, the vacancy levels rose by 100 bps to 20% as of December 2023 due to higher new supply, which has become operational recently and is yet to ramp up fully. ICRA expects the occupancy levels to sustain at 81-82% as of March 2024 and improve to 82-83% by March 2025.
We have gone from a slightly more cautious to a more bullish outlook: Ashi Anand
Ashi Anand says: “From the longer-term perspective, we are very positive on discretionary consumption. Just over the slightly shorter term, we are seeing some amount of base effect having caught up. While rural consumers who have been weak for some time are coming back, in urban consumer part, we are seeing certain pockets of weakness.”
Soaring high end, falling low end: India's consumption story splits in two after pandemic
Across many sectors, India’s consumption story has two diverging strands after Covid — demand is growing for pricier, premium products, especially in urban areas, while the sale of entry-level and mass-market goods is dipping.
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