Prachi Gupta

Mukesh Ambani’s latest punch: Retail grows faster than rival companies despite slowdown

In fact, the “higher contribution from consumer businesses, which include both retail arm and telecom business via Reliance Jio, more than offset weakness in refining and petrochemicals businesses, Reliance announced. 

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Dabur India says profit goes up by double-digit in Q1 even amid slowdown, high competition

Even while the Fast Moving Consumer Goods industry is reeling under agrarian distress and resulting consumer slowdown, Dabur’s domestic FMCG business reported volume growth of 9.6% during the Q1.

Industry News

Jet Airways creditor still hopeful ahead of inviting applications; expect interest from 3-4 bidders

With just 48 hours before Jet Airways’ Expression of Interest application goes live, the Committee of Creditors said that it is optimistic about finding a resolution for the embittered airline.

Jet Airways is facing insolvency proceedings in the Netherlands and was declared bankrupt in response to a complaint filed by two European creditors. News

Indian trade body cheers European Union heat on Jeff Bezos’ Amazon

The American e-commerce behemoth is being investigated by the EU on whether the company uses sales data to gain an advantage over other sellers on the marketplace platform.

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Chhattisgarh district improves most on ease of living, tops NITI Aayog’s Aspirational District ranking

Out of over 100 districts under the programme, five districts have emerged as the most improved regions under NITI Aayog’s Delta Ranking for the month of May.

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Now, buy eBay products on Paytm Mall; Vijay Shekhar Sharma’s firm gets US MNC’s investment, inventory

With this, Paytm Mall customers can shop for products available on eBay. “This will make eBay inventory accessible to tens of millions of Paytm Mall active customers in India."

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Key to revive consumer demand hidden deep inside Budget 2019

Schemes such as MUDRA can help bolster consumption slowdown by increasing the disposable income level among people, Nielsen India said.

It is no surprise that the investment in India by single-brand retailers over the last five or six years is negligible. (Reuters File photo) News

More companies quitting FMCG business rather than entering; half of slowdown due to SME growth slump

As small manufacturers quit the FMCG industry, the same has severely impacted the consumption story with over half of slowdown caused by the exits.

Industry News

KitKat goes sugar-free: Nestle jumps onto health trend; invents zero-sugar chocolate

Nestle has jumped onto the healthy food bandwagon and has created a zero-sugar variant of its popular chocolate KitKat. The new KitKat is entirely made of cocoa beans and pulp.

nestle brings in zero sugar kitkat chocolate News

Jeff Bezos in the soup: Amazon workers launch global protest as Prime Day sale begins

The protestors will be demonstrating against “the appalling conditions our members work under at the company, a trade union based in the United Kingdom tweeted.

amazon prime offer for young adult get 50% cashback on membership at website and app News

ITC puts faith in government for consumer demand revival

ITC today said that with government’s policies in place, the consumer demand slump that many industries have been facing for some time can be expected to be alleviated.

Industry News

Consumer confidence slips amid high living costs, slowing economic growth

Rising living costs and economic growth slump is finally taking its toll over consumer sentiment.

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Budget 2019: Investment, growth will go hand in hand; attention must be shifted from consumption slump

India Budget 2019: As India reels under slowing economic growth, the government’s move to focus on investment will be key in driving growth as the 2019 Economic Survey said.

Budget 2019-20: The key to sustaining the reforms proposed will be revenue mobilisation News

Beggars with QR code: Chinese poor collect alms in mobile wallets, ditch tin bowls

With the digital revolution taking over the world by storm, Chinese beggars have found a new way to collect alms and that consists just a sheet of paper with a QR code on it.

Industry News

Vistara goes international as original global carriers Jet Airways, Air India run into turbulence

Tata-Singapore Airlines joint venture Vistara has gone international while original largest international players from India, Jet Airways and Air India, have been facing rough weather.

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Milk to get costlier again? Dairy companies considering second hike in two months

While dairy players put a lot of hope on the June-September monsoon season in India, a subpar monsoon may fail their dreams yet again.

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IndiGo CEO calms employees fears, says all is well for airline amid Bhatia-Gangwal spat

Amid Bhatia, Gangwal spat, CEO Ronojoy Dutta is trying to assuage employee fears by saying that the “difference of opinion” between its promoters will not hamper the airline’s functioning.

The shareholder agreement between Gangwal and Bhatia, who hold 36.69% and 37.9%, respectively, expires in October but the articles of association extend beyond that. News

Airbus set to fly past Boeing as biggest plane maker after 737 MAX issue grounds sales

While Boeing sales are rapidly going down, European Airbus shipped over 300 aircraft this June and will deliver more in due course.

boeing, aviation sector, aviation industry News

Don’t pin Jet Airways grounding on govt, it was a business failure: Minister Hardeep Puri

Speaking about the government’s role in Jet Airways grounding, Hardeep S Puri said that the government cannot be blamed for it as every private player should draw up their own business plan.

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Budget 2019: Hotel body less than pleased with Nirmala Sitharaman’s budget; here’s why

India Budget 2019-20: Federation of Hotel and Restaurants Association of India (FHRAI) is less than pleased with how the budget 2019 panned out and voiced its opinion on the same.

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Budget 2019: Govt steered away from populist measures, took a long-term view, says Thomas Cook

India Budget 2019: Nirmala Sitharaman’s maiden budget may not have come up to expectations of everyone but the travel industry leaders seem to be quite satisfied with it.

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Budget 2019: Govt loses this much by not levying 1% wealth, inheritance tax from super-rich

India Budget 2019: The estate or wealth tax was abolished in Budget 2015 as it failed to become a profitable enterprise.

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Massive fall in sugar output next year, but worry not, prices won’t shoot up

During the sugar season October 2019-September 2020, India will produce 28.2 million tonnes of sugar, a drop of 14.4% on-year.

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Budget 2019 scores brownie points for startups; here’s why industry entrants are lauding it

India Budget 2019: With the announcement of an exclusive channel for startups industry and welcome changes in much asked for angel tax exemption, it scored brownie points at least in this segment.

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Budget 2019: Thousands of crores saved annually by using LED, says Nirmala Sitharaman

India Budget 2019: Projecting the outlook for next years, Nirmala Sitharaman also said that the country is going to be free of incandescent bulbs and CFL use has already become minuscule.

Budget 2019 News

Budget 2019 | Swachh Bharat Mission 2.0; Nirmala Sitharaman reveals next steps for flagship scheme

India Budget 2019-20: Announcing that the government now looks to leverage technology, waste will now be used to generate energy, the finance minister said in the speech.

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Budget 2019: New Rs 20 coin soon; Nirmala Sitharaman announces coins with new features

Budget India 2019: Finance Minister Nirmala Sitharaman has announced new coin for Rs 20 along with other currency denominations Rs 1, Rs 2, Rs 5 and Rs 10

Budget 2019 News