BUSINESS
Explosive Growth Forecasted for Indian Fast Fashion, Projected to Surpass $50 Billion by FY31
Value for money combined with effortless access to the latest trends is a powerful combination that fast fashion in India possesses, changing consumer experiences. While there have been overall economic challenges, fast fashion has proved to be one of the resilient segments within the overall Indian retail landscape, says Kushal Bhatnagar, Associate Partner at Redseer.
Fugitive Vijay Mallya Faces New Non-Bailable Warrant in Indian Overseas Bank Loan Default Case
While considering issuance of other non-bailable warrants against the 68-year-old businessman and that he was declared a 'fugitive', the court said, this is a fit case to issue an open-ended NBW against him to secure his presence," The court said.
June Sees GST Collection Surge to Rs 1.74 Lakh Crore, Up by 7.7%
This becomes time synchronization of steady GST collection with strong economic growth and improved country's tax compliance. This regime, on completion of seven years of its implementation, has substantially helped most of the households with a reduction in taxes on essential items such as household appliances and mobile phones; it begs attention toward the finance ministry. The theme of 7th GST Day, "Sashakt Vyapar Samagra Vikas", itself empowers trade for overall growth, underlining the impact on economic resilience by it.
June Sees Surge in India's Manufacturing with Highest Hiring in 19 Years
The consumer goods sector performed very strongly to take the sector into position. Adding to all the good news in this report was the good export growth, with surveyed firms reporting considerable growth in new export orders coming from key economies such as Asia, Australia, Brazil, Canada, Europe, and the US.
Zomato Faces New GST Demand of Rs 9.45 Crore
According to the filing made by Zomato with the BSE, it was for FY 2019-20 and includes a GST of Rs 5,01,95,462, along with an interest component of Rs 3,93,58,743 and a penalty of Rs 50,19,546. The company said it would challenge the order by citing confidence in its case as it plans to file an appeal with the concerned authorities.
Indian Equity Markets Soar by Nearly 14% in June Quarter, Topping Global Rankings
This has made the Indian equity market the fifth largest in the world, with its market capitalisation touching $5 trillion.
RBI's Monetary Policy Panel Member Predicts Stable High Growth Phase for Indian Economy
He told, "With respect to growth momentum and inflation trends, the Indian economy is set for a possibly stable high growth phase. It is also in an enviable position given the huge risks that we are facing.".
Inside India's Lavish Wedding Industry: A Rs 10 Lakh Cr Extravaganza
In a recent note, Jefferies had estimated that while the size of India's wedding market, at USD 100 billion, was almost twice the US market, it was smaller than that of China at USD 170 billion. Weddings are the second-biggest category of retail spending in India after food and grocery and play a huge role in driving consumption across jewellery, apparel, and other associated categories such as autos and electronics.
India Surges to Become the Third Largest Domestic Aviation Market Alongside US and China
India has replaced Brazil, which now occupies the fourth spot with 9.7 million airline seats, and Indonesia with 9.2 million seats at fifth. That India could do so because it posted the highest annual average capacity growth rate of 6.9 percent among the top five countries during this period. This was followed by a growth rate of 6.3 percent in China and 2.4 percent in the case of the US during the same period.
GIFT Nifty Achieves Historic $95.5 Billion Monthly Turnover in June
NSE has said that this feat is a step in the direction of showing the growing interest and confidence of international investors in GIFT Nifty as an important benchmark of the economic-growth trajectory of India. It said it sincerely thanks all its partners for their continued strong support, attributing their contributions to the success of GIFT Nifty as a futures contract.
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