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Business Line

Positive trends visible in rural and urban consumption: P&G Hygiene and Health Care

The FMCG major said that it has grown its distribution reach by more than 1.5x times over the last three years, quick commerce growing rapidly

The Economic Times

P&G India's upbeat take: Green shoots visible, demand to bounce back soon

Procter & Gamble Hygiene and Health Care Ltd (PGHHC) sees positive trends in rural and urban consumption, with inflation softening. The company plans to cater to both markets through various retail channels. PGHHC is also leveraging data and digital transformation to optimize inventory and sales. The firm anticipates continued growth despite some near-term challenges.

Business Standard

Best option is to double down on market strategy, says P&G India

On the PGHH call, Mrinalini Srinivasan, CFO, said that positive trends are finally emerging in the Indian fast-moving consumer goods (FMCG) industry, both in urban and rural areas

Business Standard

India's home & household market to reach $237 bn by 2030: Deloitte

India's home and household market is expected to reach USD 237 billion by 2030 at a compounded annual growth rate (CAGR) of over 10 per cent, fuelled by increasing disposable income, shifting consumer preferences and a growing focus on comfort and convenience across product categories, according to a report by Deloitte. The report, Powering Consumption Growth-India's Home and House Market, launched at the two-day event MAPIC India 2024, which began here on Wednesday, also said that the home and household market are witnessing strong demand, particularly in tier 2 and tier 3 cities that are emerging as growth hubs. It also said that omnichannel retail and e-commerce are helping businesses connect with consumers, expanding their reach beyond urban centres. Stating that factors such as high disposable incomes, the rise of digital platforms, easy access to credit, and young consumers seeking modern designs, home renovations and personalisation, which provide tailored offerings to ...

Business Standard

Digital revolution to help arrest exodus of youth from farming: FAIFA

Farmers' body FAIFA on Wednesday said the government's initiatives for digital revolution in agriculture will go a long way in arresting the exodus of youth from agriculture. Federation of All India Farmer Associations (FAIFA), which claims to represent farmers and farm workers of commercial crops across Andhra Pradesh, Telangana, Karnataka and Gujarat, said the recently announced seven schemes totalling Rs 14,000 crore will play a key role in stopping the movement of the youth from rural to urban and from farming to other professions. "These new schemes are not just about technological integration. This will help in relieving agrarian distress caused by climate variations and market uncertainties that have made agriculture unlucrative for our youth," FAIFA President Javare Gowda said in a statement. These schemes are likely to create new jobs, and the demand and creation of different skill sets will open more opportunities for the youth of rural India in the times to come, FAIFA ..

Mint

Urban Company’s early backers Steadview, Elevation and Accel to sell partial stake amid pre-IPO rejig

The investment sales would be part of a broader shuffle of Urban Company’s capitalisation table ahead of its plans to tap the public markets in the next 12 months.

The Economic Times

Gen Z Power: The ‘swipe-up’ generation is exciting business opportunity for Myntra, CMO says

Myntra's CMO, Sunder Balasubramanian, highlights the immense business opportunity in targeting Gen Z, who represent over 200 million individuals in urban India, with 60 million already shopping online. Myntra has doubled its Gen Z customer base from 8 million to 16 million in just over a year and aims to add another 20-25 million in the coming years.

Business Standard

Accel Atoms 4.0 applications for startups focusing 'Bharat', AI open today

Accel Atoms 4.0, the fourth cohort of global venture capital firm Accel's pre-seed scaling programme, is inviting applications starting Monday from promising startups in two categories - those building for Bharat' and those focused on Artificial Intelligence (AI). The application window closes on November 17, 2024. The company defines Bharat' as middle-income households spread across Tier 2, Tier 3 and rural India, which is estimated to be a USD 500 billion consumer market opportunity. The top 20 per cent of the rural population has a higher MPCE (monthly per capita expenditure) than about 50 per cent of the urban population. Accel believes multiple Indian unicorns will emerge from the 'Bharat' opportunity, the company said in a statement. A 'unicorn' in industry parlance refers to a privately held startup company that commands a valuation of over USD 1 billion. Through the three-month hybrid programme, pre-seed stage startups selected for Accel Atoms 4.0 will gain mentorship from

The Economic Times

Scooter sales growth surpasses that of bikes

Scooters are making a strong comeback in India, surpassing motorcycles in growth. Factors like electric mobility, urban congestion, and more women in the workforce have boosted scooter sales by 24% from April to August 2024. This marks a seven-year high in their market share.

Business Standard

NBCC, MTNL sign pact for Rs 1,600 cr worth housing-cum-commercial project

State-owned NBCC (India) Ltd has signed an initial pact to develop a Rs 1,600-crore worth housing-cum-commercial project on a 14-acre land parcel owned by MTNL on Pankha Road in the national capital. In a statement on Thursday, NBCC said that it has signed a Memorandum of Understanding (MoU) with Mahanagar Telephone Nigam Ltd (MTNL) to collaborate and "develop a prominent land parcel of MTNL measuring approximately 13.88 acres located on Pankha Road, New Delhi." This project aims to transform the land into a state-of-the-art residential/ commercial space, leveraging the expertise and resources of both organizations. "The project is valued at Rs 1600 crore approximately," NBCC said. The MoU was signed in the presence of K P Mahadevaswamy, CMD, NBCC, A Robert J. Ravi, CMD, MTNL. MTNL, a leading public sector telecommunications company and NBCC, a Navratna enterprise under the Ministry of Housing & Urban Affairs, have committed to this development project. "NBCC will act as the ...

Business Standard

Bharti Airtel deploys additional spectrum across Chandigarh and Punjab

Bharti Airtel has completed the deployment of the additional spectrum it acquired in July 2024. The deployment of additional 5Mhz on the 1800 band will give a boost to Airtel's 4G network capacities which, in turn, will improve and enhance data speeds and provide significantly better coverage inside homes and buildings both in urban and rural areas.

The Economic Times

NAREDCO seeks govt action on aviation constraints impacting urban real estate

NAREDCO has urged the government to address regulatory challenges affecting real estate development in cities like Mumbai, Chennai, and Kolkata. Recommendations include relocating aviation facilities and extending shielding benefits to buildings. The association also suggested using accurate contour data and conducting aeronautical studies to resolve legal issues without demolishing existing structures.

Business Standard

Bharti Airtel boosts its 5G/4G network capacity across Bihar-Jharkhand

Bharti Airtel announced that it has completed the deployment of the additional spectrum it acquired in July 2024. The deployment of additional 5.2 MHz on the 1800 band and additional 7 Mhz on the 900 band will give a boost to Airtel's 5G/4G network capacities which, in turn, will improve and enhance data speeds and provide significantly better coverage inside homes and buildings both in urban and rural areas.

Business Standard

Ingka Centres to invest Rs 5,500 cr in India on 2nd meeting place at Noida

Ingka Centres, a part of Ingka Group that operates IKEA retail, will invest 607 million euros (about Rs 5,500 crore) to set up its second meeting place in India at Noida under the Lykli brand, taking its overall investment in the country to a 1 billion euros, according to the company's Global Expansion & Development Director Sebastian Hylving. It is betting big on the Indian market and is looking at expanding where IKEA plans to open its outlets in the country, although the opening of its first meeting place in Gurugram -- Lykli Gurugram -- has been pushed to 2026 from the originally planned opening in late 2025. The company on Monday unveiled the second IKEA-anchored meeting place in India at Noida which will offer a blend of retail, dining, hospitality, co-working spaces, entertainment, and cultural experiences tailored to the needs of modern urban residents. "It (Lykli Noida) is at an investment of 607 million euro...that investment is purely for the Noida project, and then we .

The Economic Times

Meerut is all set to get India's fastest metro train service: Route, speed, and key features

Meerut is set to launch India's fastest metro service, featuring cutting-edge design, impressive speed, and modern amenities, setting a new standard in urban transit.

The Economic Times

RBI imposes penalties on Housing and Urban Development Corporation, 2 others

The Reserve Bank of India has imposed penalties on three entities, including Housing and Urban Development Corporation Ltd, for non-compliance with specific regulatory provisions. Housing and Urban Development Corporation Ltd faces a penalty of Rs 3.5 lakh, while Godrej Housing and Aadhar Housing Finance Ltd have been fined Rs 5 lakh each.

Business Standard

Airtel deploys more spectrum in Rajasthan to boost 5G, 4G network capacity

Telecom operator Bharti Airtel on Wednesday said it has deployed more spectrum across all 50 districts in Rajasthan, boosting 5G/4G network capacities to spruce up voice and data connectivity for subscribers in the state. The deployment will also widen Airtel coverage along highways and rail routes and increase its footprint in rural areas amid an exponential rise in the demand for connectivity. An Airtel release said the company has completed the deployment of the additional spectrum it acquired in July 2024. The additional spectrum has been deployed across all 50 districts in the state. "The deployment of additional 5MHz on the 1800 band and additional 4Mhz on the 900 band will give a boost to Airtel's 5G/4G network capacities, which, in turn, will improve and enhance data speeds and provide significantly better coverage inside homes and buildings both in urban and rural areas," the release said. Subscribers across Jaipur, Udaipur, Jodhpur, Kota, Bikaner, Ajmer, Bhilwara, Alwar,

The Economic Times

Luxury property frenzy set to drive up home prices in India: Reuters poll

Home prices in India are predicted to rise steadily, driven by demand for luxury properties from wealthy individuals. Affordable housing supply remains low, pushing many first-time buyers into renting. Experts forecast home prices to increase significantly in the coming years, despite a slow economic growth reach for the broader population. Rents in major cities are expected to rise faster than consumer inflation, adding pressure on urban dwellers.

The Economic Times

Tata Motors eyes gains in SUV space; expands portfolio with new model Curvv

The Mumbai-based auto major on Monday launched midsize SUV coupe Curvv with petrol and diesel powertrains with a price starting at Rs 9.99 lakh. The company has already unveiled the electric version of the model in August. The model would be competing with the likes of Hyundai Creta, Kia Seltos, Maruti Suzuki Grand Vitara, Toyota Urban Cruiser Hyryder, and Honda Elevate, among others.

Business Standard

Maruti to drive deep into small towns via Arena Satellite showrooms

Banerjee said that in the digital era, there is no real divide between urban and rural. However, in Tier-II and Tier-III cities, there is an affinity for hatchbacks

Business Standard

Rs 80,000 crore 'Digital Bharat Nidhi' fund to boost urban telecom services

To secure the funds, the projects have to meet certain criteria, such as improving telecom service affordability and security

The Economic Times

Digital Bharat Nidhi to fund provisioning of telecom services in urban areas now

The Rs 80,000 crore Digital Bharat Nidhi will now support telecommunication services in urban areas with added benchmarks for affordability and enhanced security. The former Universal Services Obligation Fund has been expanded to support innovation, research, and green technologies, furthering India's mission of becoming digitally connected and self-reliant by 2047.

The Economic Times

Air taxis to rule skies soon, revolutionise urban travel: Nikhil Goel, Archer Aviation

Nikhil Goel said that India's civil aviation regulator DGCA is also supportive to frame policies on air taxis. "We have been working with Interglobe for more than over the last year, and together we've started to analyze routes across some of India's largest cities. We see tremendous, not only potential, but support from everybody we meet, whether it's with municipal leaders, federal government and regulators," Goel said.

Business Standard

Toyota posts 35% YoY rise in total wholesale at 30,879 units in Aug

Toyota Kirloskar Motor on Sunday reported a 35 per cent growth year-on-year in total wholesales at 30,879 units in August. The automaker had reported a dispatch of 22,910 units in both domestic and exports in the same month last year. "As we approach the festive season, demand for our products remains buoyant, and we are already witnessing increased consumer interest and higher footfall across all our dealerships," Toyota Kirloskar Motor Vice-President, Sales-Service-Used Car Business, Sabari Manohar, said in a statement. SUVs and MPVs continue to significantly contribute to the company's sales numbers, reflecting a growing preference for these segment vehicles, he added. Interestingly, this trend is not limited to major urban centres but extends to tier-2 and tier-3 markets as well, demonstrating widespread customer acceptance for TKM offerings, Manohar said. As a response to the market needs, the automaker reopened the bookings in August for the Innova Hycross ZX & ZX (O) ...

The Economic Times

Why India's auto industry is betting big on the grand re-entry of small cars

The small car segment in India, once sidelined by the popularity of SUVs, is poised for a resurgence by 2026, experts say. Factors such as two-wheeler owners upgrading to four-wheelers, affordable and efficient urban mobility, and multiple drivetrain options including electric vehicles will drive demand.

The Economic Times

Darsh Dronobotics ties up with Trouve Innovation Hub for development of hydrogen air taxi

Darsh Dronobotics Systems has partnered with Trouve Innovation Hub Inc. to develop a hydrogen-based five-seater air taxi. This collaboration aims to combat climate change, reduce carbon emissions, and support India's net zero goals. The air taxi will offer eco-friendly urban transportation with zero emissions and reduced operating costs.

Business Standard

E-commerce industry fuels state's packaging, export capability: Adityanath

E-commerce platforms added momentum to Uttar Pradesh government's efforts towards enhancing packaging and export capabilities and promoting Centre's One District One Product (ODOP) scheme, Chief Minister Yogi Adityanath said on Friday. The chief minister said the state is focused on enhancing packaging and export capabilities by leveraging design, technology, and market access and also called upon companies to take advantage of the state's warehousing policy, according to an official statement. "We focused on enhancing packaging and export capabilities by leveraging design, technology, and market access. However, the work of giving it more momentum happened when Flipkart Group joined us," Adityanath said at an event at Lok Bhavan, where he virtually inaugurated Flipkart's two new warehouses in Unnao and Varanasi. He also emphasised how these platforms are fostering healthy competition and empowering every citizen, whether in urban or rural areas, to reach global markets. He said th

The Economic Times

Two-wheeler industry expects robust growth in upcoming festive season: TVS

The two-wheeler industry is set for strong festive season sales, driven by a revival in rural demand and good monsoon conditions, says TVS Motor's Aniruddha Haldar. Rural demand is outpacing urban areas, with scooters gaining popularity. Improved rural infrastructure and increased personal mobility also contribute to the growth, particularly for scooters.

The Economic Times

Credit consciousness among non-metro borrows picks up pace, says report

Borrowers in non-metro regions, including rural, semi-urban, and urban areas, are becoming more credit-conscious than their metro counterparts. Credit monitoring among these areas has surged by 57% in 2023-24, according to TransUnion CIBIL. Young borrowers, particularly Gen Z and Millennials, are leading this trend. States like Kerala, Tamil Nadu, and West Bengal show significant growth.

Business Standard

NBCC update on sale of commercial built-up space at Down Town Sarojini Nagar

NBCC (India)has conducted the bulk sale e-auction for sale of Commercial Built-up Space at Down Town Sarojini Nagar, New Delhi as PMC & Marketing Consultant on behalf of Ministry of Housing and Urban Affairs, Govt. of India. The project is on self-sustainable mode.

The Economic Times

Urban Vault leases 1 lakh sq ft of prime office space in Brigade Summit, Whitefield, Bengaluru

Urban Vault has leased 100,000 sq ft of office space in Bengaluru's Whitefield to expand its managed co-working operations. The new facility will accommodate over 2,000 desks. Urban Vault currently operates over 20 lakh sq ft of office space and plans to enter Pune, Gurugram, and Hyderabad markets by FY25.

The Economic Times

BCD Group appoints Ashwinder R. Singh as VC and CEO to drive strategic expansion

BCD Group has appointed Ashwinder R. Singh as Vice Chairman and CEO, elevating Angad Singh Bedi to Chairman and Managing Director. Singh brings 27 years of real estate expertise, including leadership roles at Bharti Urban and JLL. He will focus on residential and integrated township development along with reinforcing BCD Group's core competencies.

The Economic Times

Two-wheeler industry to grow by 8 pc, tractors by 4pc annually: Report

The two-wheeler industry is expected to grow by 8% year-on-year, driven by strong rural and urban demand. The tractor industry should see about 4% growth, while the passenger vehicle segment and commercial vehicles may decline due to high base effects, according to a report by a wealth and investment firm Nuvama. India's auto exports show positive growth, especially in two-wheelers and passenger vehicles.

The Economic Times

Naredco urges housing ministry to provide relief to real estate developers in NCR

NAREDCO appealed to the Ministry of Housing and Urban Affairs for rescheduling builders' land dues in Haryana and Uttar Pradesh. They requested a zero-period during COVID-19 years and extensions for project completions. The committee identified stalled projects and stressed units, emphasizing the need for relief to boost economic activity and housing delivery.

Business Standard

Indian cities see 45% residential price hike in last 5 years: Anarock

Bagaluru, a locality in Bengaluru Urban district, recorded the highest price appreciation of 90 per cent between 2019 and the first half of 2024

The Economic Times

Small finance banks credit growth expected to slow down to 26% this fiscal

Small finance banks' growth was expected to decelerate to 26% this fiscal year from 28% previously, as they explored alternative funding avenues, Crisil reported. Credit growth in new asset classes was seen at 40%, with diversification in loans such as mortgages and vehicle loans. Expansion in semi-urban and rural markets was a significant growth driver.

The Economic Times

Homebuyers' body seeks Housing Ministry's intervention over RERA conciliation forum

The Forum for People’s Collective Efforts urged the Ministry of Housing & Urban Affairs to address concerns about bias and transparency issues in conciliation forums set up by various state RERAs. Highlighting MahaRERA's alleged pro-developer inclination, FPCE requested guidelines for impartiality and the suspension of these forums' activities until compliance.

Business Standard

FPCE challenges MahaRERA's move to create forum for builder-buyer disputes

Homebuyers' association FPCE has questioned Maharashtra real estate regulator MahaRERA's decision to constitute and be part of a conciliation forum to settle dispute between builders and customers, saying the law does not give such power and the move can lead to possible conflict of interest. Forum for People's Collective Efforts' (FPCE) President Abhay Upadhyay has written a letter on August 19 to Union Ministry of Housing and Urban Affairs Additional Secretary Satinder Pal Singh objecting to the conciliation forum constituted by MahaRERA and its "suspicious functioning". The association has asked the ministry to investigate the constitution of this forum, its functioning and also orders passed, to ascertain whether the forum is favouring builders. "Maharashtra Real Estate Regulatory Authority (MahaRERA) has constituted Conciliation Forum for amicable settlement of dispute between promoter of real estate projects and allottee under Section 32 of Real Estate (Regulation and ...

The Economic Times

ICMR-led study estimates 10-year risk of developing heart disease in adults in India

An ICMR-led study has found that unemployed adults in India have a significantly higher risk of developing heart disease over the next decade. The research analyzed nearly 4,500 adults aged 40-69 years, showing that men and urban residents have higher risks. High blood sugar and obesity also contribute to increased cardiovascular risks.

Business Standard

Bakeri Urban Development Pvt consolidated net profit rises 99.10% in the June 2024 quarter

Sales rise 48.78% to Rs 9.76 crore