BUSINESS
'India will have competitive federalism with Centre-state jostling for investments'
"While competitive federalism will dominate, prospects for cooperative federalism still exist and will be pursued intermittently. International governments and businesses engaging with India will need political astuteness to navigate different layers of bureaucracy and stakeholder interests," the report notes.
India smartphone market dips 10% YoY, Apple logs 61% growth
In the second quarter (Q2), the market grew by 10 per cent over the previous quarter but declined by 3 per cent YoY with 34 million units, according to the International Data Corporation (IDC).
'India's macro challenge for decade ahead is to achieve sustained high, stable and inclusive growth'
A paramount test will be whether India can become the next big global manufacturing hub, an immense opportunity. Developing a strong logistics framework will be key in transforming India from a services-dominated economy into a manufacturing-dominant one, the report said.
India's geopolitical position can give tailwinds for economic growth: S&P Global Ratings
According to S&P Global Ratings, the macro challenge for India in the upcoming decade is to turn traditionally uneven growth into a high and stable trend. Given structural differences with East Asian economies, India will need to follow its own unique path.
Top 25 tech giants gain $2 trillion market cap, defy economic headwinds
Overall, the top 25 tech companies gained a whopping $4.5 trillion in the first half (H1) of 2023, reveals GlobalData, a leading data and analytics company.Graphics chip major Nvidia gained over 50 per cent in market cap in Q2 and almost 200 per cent since January.
Sensex now down more than 500 points
Titan led the Sensex losses down more than 2 per cent. Morgan Stanley has upgraded India to overweight. India rises from number 6 to number 1 in our process, with relative valuations less extreme than in October, while MS macro, strategist and bottom-up analyst scores reflect MS' Blue Paper thesis on India's Decade.
Mark Zuckerberg takes 4,000 ‘unhealthy’ calories a day to offset activities
In a Threads post, he said that he eats 20 nuggets, large fries, Oreo McFlurry, apple pie and cheeseburgers. In a response to McDonald's post which asked users to reveal their daily orders, the Meta CEO said: “20 nuggets, a quarter pounder, large fries, Oreo McFlurry, apple pie, and maybe some side cheeseburgers for later?”
Centre restricts import of laptops, PCs & tablets
A notification issued by Directorate General of Foreign Trade (DGFT) on Thursday said that though import of these items will be allowed against a license, certain use cases have been exempted from the restrictions. These are, import of one laptop, tablet, personal computer, or ultra-small form factor computer through online portals, couriers, or post.
Economic activity appears to have remained weak in July
Economic activity weakened in Jun'23 also. Preliminary estimates indicate that the growth in India’s EAI for GVA decelerated to its eight-month low of 6.4 per cent YoY in Jun’23. The deterioration was led by the non-farm sector, as industrial sector growth slowed to 8.7 per cent YoY in Jun’23 and the growth in the services sector too moderated to its eight-month low of 6.0 per cent YoY in Jun’23.
28% GST levy on online gaming and casinos likely from Oct 1 onwards, review after 6 months: FM Nirmala Sitharaman
It was further decided that once the GST levy becomes applicable on October 1, it will be reviewed after six months, and if need arises, changes may be made in it. The decision was taken during the GST Council meeting, which was held virtually by finance minister Nirmala Sitharaman.
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