INDUSTRY GROWTH
Degree apprenticeships can help position aviation industry get talent for sustained growth
Aviation sector facing severe skill gaps with 17% shortage, projected to exceed 25%! Anticipated growth to create 72,900 new jobs by 2035. Pilots, technicians, and AMEs in high demand. India set to dominate air passenger market by 2030. Government initiatives and apprenticeships crucial to bridge employment gap and ensure industry growth!
Industrial activity is expected to gain support from domestic consumption in FY25: CRISIL
Industrial activity is set to grow, supported by domestic consumption and improved private consumption, says CRISIL. May's Index of Industrial Production rose by 5.9% year-on-year. A normal monsoon and increased kharif sowing are expected to boost agriculture and control food inflation. GDP growth is projected to slow to 6.8% from 8.2%.
Union Budget: What lies ahead for Modi's flagship PLI scheme?
As India prepares for Budget 2024, the spotlight is on Production-Linked Incentive (PLI) schemes, crucial for revitalizing manufacturing and strengthening supply chains. The government has raised the PLI allocation to ₹6,200 crore, signaling a 33% increase, underscoring its commitment to economic growth and job creation. Since 2021, PLI has attracted over ₹1.03 lakh crore in investments, generating 6.78 lakh jobs, with sectors like electronics and pharmaceuticals leading exports beyond ₹3.20 lakh crore.
Is India's youth workforce equipped for the tech job boom?
India's growth in 5G, electronics fabrication, telecom, and EV industries drives new job opportunities requiring AI, Big Data, IoT, and sustainability skills. The renewable sector's expansion highlights the need for continuous learning. Collaborative training, adaptability, and problem-solving are essential to prepare the youth for an evolving job market.
China's second-quarter GDP growth falls short of expectations
China's GDP grew 4.7% in Q2, after 5.3% in Q1. The National Bureau of Statistics cited weather, external uncertainties, and domestic challenges. Beijing aims for economic optimism at the third plenum. Trade tensions, property downturn, local debt, growth shift, 5.5% GDP target, ageing workforce, environmental challenges, Council on Foreign Relations, and China Economic Review impact the economy.
China June industrial output growth slows, retail sales miss expectations by large margin
Retail sales, a gauge of consumption, rose 2.0% in June, slowing significantly from a 3.7% increase in May. Analysts had expected retail sales to grow 3.3%.
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10 equity mutual funds that have outperformed over 1, 3 and 5 years
Equity funds that beat their benchmark indices and category average returns regularly tend to score well on risk-adjusted metrics and hold durable stock portfolios.
Indian AC industry likely to double in next 4 years: Blue Star
Blue Star forecasts a significant growth in the air-conditioning industry in the next four years, driven by factors such as low penetration of room ACs and increasing middle-class consumers with high disposable incomes. The company's strategic plans aim to capitalize on emerging opportunities.
Thirst Trap: Water sustainability issues loom over India's booming data centre industry
India's data centre industry is booming, driven by significant investments from companies like Adani Enterprises. However, this growth raises concerns about the substantial water consumption needed for cooling in water-scarce cities. Operators are adopting alternative cooling technologies like air-cooled chillers to reduce water use. Despite these efforts, India lacks a national policy on data centre water usage. Experts call for sustainable practices to balance industry growth with water conservation.
Domestic investors infuse $638 million in realty sector in Apr-Jun, up 5 times annually: Vestian
Domestic investors pumped USD 637.9 million into the Indian real estate sector in Q2 of 2024, marking a significant increase compared to the previous year, as per data released by Vestian. Institutional investments in Indian real estate rose by 96 per cent to USD 3.1 billion during April-June, with foreign investors dominating the market. The industrial & warehousing sector attracted the most investments, followed by residential and commercial assets. Investments are expected to rise further in the coming quarters due to robust economic growth and infrastructure development.
Raise the Spirits: Whisky and rum dominate India's rising thirst for premium alcohol
India's alcohol beverage market has evolved beyond sheer volume, now ranking 5th globally in revenue contribution at 3.1%. Alongside China, it offers substantial volumes while showing a growing appetite for premium products amidst rapid urbanization and youthful aspirations. The industry spans 736 million 9-litre cases, predominantly led by brown spirits like whisky and rum. Indian single malts hold a significant share domestically and are poised for increased exports. Despite challenges like complex state-level regulations, the sector supports millions of livelihoods and contributes significantly to state revenues, urging for streamlined policies to foster growth and investment.
India's industrial production beats estimates; growth seen at 5.9% YoY in May
India's Index of Industrial Production (IIP) increased by 5.9% in May, up from 5% in April, according to data from the Ministry of Statistics and Programme Implementation. The government reported factory output growth of 5.7% in May 2023, a slight increase from the previous high of 11.9% in October 2023.
Fully invested in market; banks continue to remain reasonably priced: Anand Shah
Today we have 65% of population living in rural India, 35% of people in urban India. It is very difficult to improve per capita income and consumption for somebody who still remains in the rural part because to take factories, to take jobs to the rural India will be very difficult.
Software solutions provider Nemetschek Group eyes M&A opportunities in India
Nemetschek targets India to boost Asia-Pacific revenue (currently 10%), tackling digitisation issues with mergers. Key projects including NIP and the real estate market will utilize BIM tools. With 7 million users, MDAX listing, EUR 851.6 million revenue, and EUR 257.7 million EBITDA. Plans include 2025 market growth, local and educational collaborations, sustainability, project management, and startup investments.
Auto component industry to see moderate growth this fiscal: ICRA
Credit ratings agency ICRA predicts a moderate growth for the auto component industry in the coming quarters due to the Red Sea crisis, higher container rates, and shipping time. The industry is expected to see a year-on-year improvement of around 50 basis-points in FY2025, benefiting from better operating leverage, higher content per vehicle, and value additions. The industry's liquidity position remains comfortable, especially across tier-I players, supported by stable cash flows and earnings. ICRA expects the growth in revenues of the Indian auto component industry to ease to 5-7 per cent this fiscal, from the highs of around 14% in FY 2023-24.
Keep the foot on infra pedal: Tata Steel's message to FM Sitharaman for Union Budget 2024
BUDGET 2024: Finance Minister Nirmala Sitharaman should maintain the focus on capital expenditure in the Union Budget 2024 to benefit the steel industry, says Tata Steel CEO & MD TV Narendran. Continued investment in infrastructure and addressing unfairly priced steel imports from China are crucial for sustaining industry profitability and growth.
Reliance, Tata, Maruti & others rally veterans to now defend the giants' next growth phase
Indian companies, including Reliance Industries and Tata Group, are leveraging the talent of ex-service personnel for their unique skills and capabilities. With a focus on fitness, discipline, crisis management, and execution rigour, these veterans are filling skill gaps in various sectors such as logistics, engineering, and administration.
Will Nifty continue to scale new highs ahead of Budget? Mahantesh Sabarad answers
The markets have been buoyant for all these reasons and we are also likely going to see a lot of corporate profitability surging ahead because there has been a general demand recovery post the lull we have seen the last three-four years particularly on the consumer side, both durables as well as fast moving goods.
Food services sector may grow at 8% CAGR in 2024-28: NRAI report
The food services sector in India is set to grow at a CAGR of 8.1% from 2024-2028, reaching Rs 7.8 lakh crore by FY28. According to the report, rising incomes, urbanisation and changing lifestyles are significantly increasing the frequency of dining out.
Gaming industry to grow to Rs 25,300 crore by end of 2024-25: report
The gaming industry is set to grow 20% on year by the end of this fiscal year to Rs 25,300 crore, as per a study by Grant Thornton Bharat. This is in partnership with E-Gaming Federation. The report added that India has left China behind in terms of online gamers, with its number hitting 422 million.
EU tariffs hit growth in China's electric car exports, industry body official says
Last week, the European Union introduced provisional tariffs of up to 37.6% on China-made electric vehicles (EVs) to safeguard against what it described as a potential flood of unfairly subsidised EVs - a move China strongly opposes.
On this season of corporate earnings, Nifty50 companies likely to give solid show
Nifty 50 cos expect double-digit June revenue, profit growth, with net profit up 26.4% and 20.6% operating margins. Noted sectors' improvements, geopolitical concerns, Maruti Suzuki's volume growth, credit growth issues, moderate inflation effects, and rural consumption. Analysts predict 13% and 17% EPS growth in FY25 and FY26.
Govt, industry to discuss ways to promote growth of Indian toy sector on Jul 8
Government and industry to meet for discussions on boosting toy manufacturing and exports.
Govt sets up task force to study impact of AI on future of work: Labour secretary Sumita Dawra
The government has formed a taskforce to examine the effects of artificial intelligence (AI) on the future of work, according to labour secretary Sumita Dawra during an industry interaction in Hyderabad on Friday. The announcement was made at an event organized by the Confederation of Indian Industry (CII) and the Employers’ Federation of India (EFI).
Pressure on diagnostics industry will continue for another five years : A Velumani, Thyrocare Tech
Yes, there were challenges in diagnostic industry of a different nature in early 2000. There were no automations available adequately. Before year 2000 there were only two-three automations in the country and by another 10 years it became 500, another 10 years it has become literally 5,000.
Equitas Small Finance Bank clocks 35% deposits growth, bucks sectoral trend
Equitas Small Finance Bank, with a priority sector focus, achieved a 35.4% year-on-year deposit growth to Rs 37524 crore by the end of June, surpassing the sectoral average of 12%. Advances increased 17.8% to Rs 34872 crore, although the CASA ratio fell to 31% due to faster term deposits growth. Provisional figures submitted to stock exchanges confirmed these results.
Industry needs to boost capital investments to capitalise on growth opportunities: Anand Mahindra
Anand Mahindra, Chairman of Mahindra Group, emphasized the need for Indian companies to increase capital investment to leverage growth opportunities domestically and globally. In the company's annual report for 2023-24, Mahindra highlighted India's strengthened position in global supply chains post-COVID, urging private industry to seize this momentum. He stressed that private investment is crucial for driving economic growth, creating jobs, and stimulating demand.
Expect 8-10% industry volume growth for FY-25: Mohan Bangur, Shree Cement
So, in the next three quarters, the demand has to meet around 9% to 10% to make up for the lost time. In the first quarter, there were elections, there were water shortage, uncertainty of election results were there, now all those is over.
RIL shares can create up to $100 billion wealth, predicts Morgan Stanley
Morgan Stanley, a global brokerage firm, forecasted that Mukesh Ambani-led Reliance Industries' (RIL) fourth monetisation cycle could potentially increase market capitalisation by $60-100 billion. They set a target price of Rs 3,540 in the base case scenario.
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