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India's urban middle class is cutting back on spending due to inflation and unemployment, revealing weakness in urban demand for the second consecutive quarter. Major companies like Hindustan Unilever and Reliance's retail unit have reported softer consumption, impacting their earnings and the broader economic outlook. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Fhnj2Rs

This Diwali, consumer spending on snacks and gifts soared despite inflation concerns. Companies like Naturals Ice Cream, Dabur, and Parle Products saw significant sales boosts through affordable gift packs and strategic pricing. Urban areas showed budget caution, while rural demand remained steady. Further festive purchases are expected to maintain momentum. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VF4xfWw

Goldman Sachs estimates India needs to create 10 million jobs annually to sustain 6.5% GVA growth. Key policy recommendations include incentivizing affordable social housing, diversifying IT hubs to smaller cities, and reallocating fiscal incentives towards labour-intensive manufacturing sectors to boost employment. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tNWYTKu

Hindustan Unilever and other FMCG companies are increasingly focusing on tailoring products to cater to Indian consumer nuances. By leveraging technology and understanding varied local preferences, these firms are introducing region-specific blends and health-focused offerings to meet the evolving demands for premium, differentiated, and sustainable products in India. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/70KGSRf

Dhanteras brought cheer for the consumer industry as robust sales were seen in cars, two-wheelers, smartphones, and premium electronic appliances. Despite high gold prices, buyers continued to purchase gold coins and jewellery. Maruti Suzuki and Tata Motors reported record car deliveries, while demand for large-screen TVs and smart appliances remained strong. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/WYp5cM8

The Reserve Bank of India has transported another 102 tonnes of gold from the Bank of England to secure locations within the country, bringing the total to 510.5 tonnes held domestically out of 855 tonnes by the end of September. This move is part of efforts to secure holdings amid global geopolitical tensions, with further shipments possible. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/m5IzvSu

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Reliance's Campa Cola challenges beverage giants PepsiCo and Coca-Cola with its aggressive pricing strategy, offering 200 ml bottles at Rs 10. To counter this, Coca-Cola and PepsiCo are employing tactics such as better retailer margins and potential lower-priced packs, particularly in markets like Kerala and West Bengal. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/htYZORU

Foreign fund trading activities and quarterly earnings from major companies are expected to drive the market. Investors will assess crude oil prices due to West Asian geopolitical tensions and the rupee's performance. Waaree Energies' listing also plays a crucial role, amid US election uncertainty and significant OCT market losses. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/EzlHUgd

Facing a significant industry slowdown, car manufacturers like Maruti Suzuki, Honda, Mahindra, and luxury brands such as Audi and BMW are offering deep discounts, sometimes up to Rs 12 lakh, across various models from entry-level to high-end luxury. Analysts predict even deeper discounts post-Diwali to clear excess inventories. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yFRKrwB

Finance minister Nirmala Sitharaman emphasizes the need for sovereign ratings to properly reflect the economic realities of emerging markets to lower their capital costs. She calls for credit rating agencies to improve their methodologies and highlights the importance of IMF governance reforms amidst global economic challenges. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/pAYJMEi

RBI governor Shaktikanta Das anticipates inflation will moderate after October, despite recent highs. Speaking at an IMF-World Bank event, Das emphasized efforts to align inflation with the 4% target and highlighted economic strength. He also warned of cryptocurrency risks and stressed international consensus on regulation. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/LWyb89h

On Friday, the Sensex and Nifty fell nearly 1% each due to poor quarterly earnings and substantial foreign fund selling, with the Sensex dropping 663 points to 79,402. BSE’s market capitalization fell by over Rs 7 lakh crore. Foreign portfolio investors recorded a net outflow of nearly Rs 90,000 crore in October, while domestic funds provided some support. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/uG12KbR

India Inc is expected to report a 16-quarter low revenue growth of 5-7% for the September quarter. The stagnation in construction, a decline in industrial commodities, and sluggish investment-linked sectors contributed to the slowdown. Additionally, the agriculture sector experienced a significant 20-22% revenue drop. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/uHpDw0k

Nvidia's AI summit in Mumbai saw CEO Jensen Huang praise India's tech capabilities while Reliance chairman Mukesh Ambani announced an AI infrastructure partnership. Indian companies like TCS, Tata Communications, and Infosys launched new AI initiatives, as Huang highlighted India's key role in language model innovation. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JSe1sOv

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Finance Minister Nirmala Sitharaman emphasized maintaining stringent checks on FDI in the national interest, citing regional sensitivities, despite industry pressure. The focus is on ensuring the source of investment is secure. India aims to reach $100 billion annually in FDI, with reforms spanning central to local governance. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/YWnJtOd

The Indian government has decided to remove the export duty on parboiled rice and the Minimum Export Price on non-basmati white rice, allowing Indian farmers to compete more effectively in the international market. These measures come amid a bumper paddy crop and significant buffer stock levels. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dqbmD5z

Ambuja Cements, controlled by Gautam Adani, is set to acquire a 47% stake in Orient Cement from Chandra Kant Birla for Rs 3,791 crore. This move, along with an open offer for an additional 26% stake, aims to challenge UltraTech Cement's industry dominance and increase Ambuja's cement capacity to 97 million tonnes. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/VhqlZsH

Sebi chairperson Madhabi Buch is to appear before the Public Accounts Committee (PAC) of Parliament on Thursday for a performance review. Despite BJP's protest, she will address questions linked to allegations of financial misconduct and conflict of interest amid political tensions. Buch had sought an exemption from the PAC but was denied. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0GNlFML

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RBI notes a temporary slowdown in India's economy due to heavy rains and 'pitru paksha'. However, it remains optimistic about a recovery driven by festival season consumption and increased private investment. Rural demand is anticipated to rise with an optimistic agricultural outlook, while India's external sector shows resilience despite geopolitical issues. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Wi3NKBk

HDFC Bank's board has approved a Rs 12,500 crore IPO for its subsidiary, HDB Financial Services, featuring a mix of fresh issues and offers for sale. The IPO includes Rs 10,000 crore in offer for sale and Rs 2,500 crore in fresh issuance. The move aims to comply with RBI regulations requiring NBFCs to go public by Sept 2025. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/aicwlrJ

Brands in India are targeting the country's 377 million Gen Zs, who currently drive $860 billion in consumer spending. By 2030, it's projected that 36% will join the workforce, increasing their direct spends to $730 billion. Companies like BoAt, Amazon, and Flipkart are adapting their strategies to meet Gen Z's preferences for personalization and affordability. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/DprhPaz

The number of individuals reporting taxable income over Rs 1 crore rose significantly from 44,078 in AY2013-14 to nearly 2.3 lakh in AY2023-24, indicating higher incomes and better compliance. Salaried individuals comprised a substantial portion, but higher income levels saw more businessmen and professionals. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/AjrRPF2

Prime Minister Narendra Modi inaugurated new airports in Madhya Pradesh, Chhattisgarh, and Uttar Pradesh under the UDAN scheme. These airports aim to boost regional connectivity and economic growth. The scheme, supported by tax and customs incentives, is projected to drive significant demand in Indian aviation, with over 2,200 aircraft needed by 2042. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/04Kvgdk

HDFC Bank's standalone net profit for Q2FY25 increased by 5% to Rs 16,821 crore, with total deposits rising by 15.06% YoY to Rs 25,00,100 crore. The bank's total income for the quarter reached Rs 85,500 crore, up from Rs 78,406 crore a year ago. Gross NPAs slightly increased to 1.36%, while net NPAs rose to 0.41%. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1J76k8W

ICAO has increased compensation limits for international flight issues under the Montreal Convention, effective Dec 28. The new upper limit for death compensation rises from Rs 1.4 crore to Rs 1.7 crore. This affects 140 countries, including India. The revision adjusts for inflation and requires legal provisions by December's end. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Z1Y84eC

The Group of Ministers (GoM) on GST rate rationalisation proposed reducing GST on packaged drinking water bottles, bicycles, and exercise notebooks to 5%. They suggested raising GST on high-end shoes and wrist watches to 28%. These changes could generate additional revenue of Rs 22,000 crore, aiming to balance revenue while offering relief on essential items. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/xLG8vHZ

The Group of Ministers (GoM) decides to recommend waiving GST on health and term life insurance premiums for senior citizens, with a focus on providing financial relief. The GST Council will finalize the decision, but premiums over Rs 5 lakh for non-senior citizens will still attract 18% GST. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6tJ2gyF

HDFC Bank Ltd., India's largest private sector lender, recorded a 5% increase in net profit for the quarter ending September 30, 2021, reaching Rs 16,821 crore. Net interest income grew by 10% to Rs 30,114 crore. However, the bank's asset quality slightly deteriorated with gross NPA rising to 1.36%. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yJbCVaA

Hyundai Motor India's Rs 27,870 crore IPO, the nation's largest-ever public offering, has been fully subscribed, driven by strong institutional investor demand. Retail investor participation was subdued, but the successful issue highlights India's capacity to manage large-scale IPOs, setting a positive precedent for future offerings. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/acPWHOu

The number of taxpayers in India increased by 82% from 2014-15 to 2023-24, and direct tax receipts surged 182%, largely due to better compliance and the use of technology. Personal income tax collections rose significantly, surpassing corporate tax collections for the second consecutive year. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Bgbs8OC

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Elon Musk has opposed Jio's push for an auction of satellite spectrum, stressing it is traditionally shared by ITU guidelines. India's telecom minister confirmed administrative allocation for satellite spectrum, countering Jio's stance. Mukesh Ambani emphasized the need for local data storage, urging incentivization for setting up AI and machine learning data centers in India. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/EpSaVF0

At the India Mobile Congress, Jio's Akash Ambani and Airtel's Sunil Mittal raised concerns about foreign companies gaining easier market access. Ambani emphasized the need for local data storage, while Mittal argued that international satellite players like Starlink should buy spectrum through auctions like domestic firms. This highlights the brewing competition between local telecoms and global giants. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/kjrR45Q

Nearly a third of positions at the National Company Law Tribunal remain unfilled, impacting the government's insolvency reform initiative. This shortage has led to operational inefficiencies, delaying insolvency resolutions significantly. The average resolution time has surged to 716 days, far exceeding the 270-day deadline, posing challenges for corporate insolvency processes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5Gk3AUI

High food inflation in India is driven by volatile tomato, onion, and potato prices due to short crop cycles, storage issues, and extreme weather. An RBI working paper suggests reforms like private mandis, re-launching futures trading, and expanding cold storage facilities to stabilize prices and support farmers. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1p7x58h

Reliance Jio has urged telecom minister Jyotiraditya Scindia to have regulator Trai revise a consultation paper on spectrum allocation rules, emphasizing fair competition between terrestrial and satellite networks. Jio warns of potential legal battles if level-playing field considerations are not incorporated. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1yPmAk2

India's GJEPC has adopted new standards for defining a diamond, now requiring it to refer only to natural stones mined from the earth. This move aligns with the USA's FTC guidelines and aims to prevent lab-grown diamonds from being misrepresented. GJEPC is urging updates to the Consumer Protection Act to reflect this definition. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/a7hnZBx

Reliance Jio has requested Telecom Minister Jyotiraditya Scindia's help to revise TRAI's consultation paper on spectrum allocation to ensure fair competition between terrestrial and satellite communication providers. Jio emphasized the need for a fair and transparent auction system, arguing that the current consultation overlooks critical issues of market parity and legal implications. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/mRIpuSL

State Bank of India (SBI) is set to enhance the instant loan scheme threshold for MSMEs beyond the current Rs 5 crore, streamlining the process with tech for quick approvals. Plans include network expansion with 600 new branches, aiming to include more MSMEs in formal credit systems. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jdQSyAY

Hyundai Motor India Ltd plans to export its upcoming electric vehicles to similar emerging markets, such as Africa and Latin America, aiming to strengthen its position as a production hub. The company also focuses on localizing production elements, including battery packs and drivetrain power electronics, to offer competitively priced EVs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/LuhWTfa

India's industrial output experienced a contraction of 0.1% in August, marking the first decline in 22 months, predominantly due to a high base effect, reduced mining and electricity output, and a weakened manufacturing sector. Analysts attribute this to temporary factors including monsoon rains and expect no major alarm. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/426LS0b

India's foreign exchange reserves fell by $3.7 billion to $701.2 billion in the week ended Oct 4, marking the first decline in eight weeks. The drop includes a $3.5 billion decrease in foreign currency and a $40 million reduction in gold value. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/bxtaI04

Retail investor participation in mutual funds via SIPs hit a record Rs 24,508 crore in Sept 2024, marking the 15th consecutive month of growth. However, equity mutual fund inflows fell 10% from Aug due to weakened interest in thematic and large-cap funds. The industry's assets under management increased to Rs 67 lakh crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UI3NpQc

TD Bank, the largest bank to date to admit to US Bank Secrecy Act violations, pleads guilty to money laundering-related charges and agrees to $3 billion in penalties. The Justice Department cites pervasive compliance failures over a decade. An asset cap limits TD's US operations, and CEO Bharat Masrani plans to retire, taking responsibility for the issues. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/sTBM42v

Retail inflation in September is expected to rise due to a poor base effect and increasing food prices, especially onions, potatoes, and chana dal. RBI Governor Shaktikanta Das highlighted concerns from weather events, geopolitical conflicts, and volatile oil prices, cautioning careful monitoring to maintain control over inflation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cRBHF5T

In 1991, Ratan Tata took over as the chairman of the Tata Group from his uncle, JRD, who had been in charge for more than half a century. Ratan Naval Tata, a titan of industry, passed away at the age of 86. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2EvnVca