Innholdsfortegnelse for 7 July 2024 i Business Today

At 8.2%, India’s FY24 GDP growth is the talk of the global economy. And the economy will continue to grow at a healthy clip despite the increasing base. The Reserve Bank of India, for instance, has upped its FY25 growth forecast from 7% to 7.2%. But it’s not as if there aren’t gaps in this growth story. For long the subject of discussion among economists, the consumption economy is evidence that this growth is uneven. And this uneven growth—where the upper end of consumers spend higher amounts while the mass market and rural economy are yet to come back to pre-pandemic levels—continues to affect consumer-facing businesses. The FMCG sector, seen widely as the barometer of the consumption economy, is still coming to grips with the stress in the mass-consumption and…

BHIDU IS AN iconic Mumbai slang that actor Jackie Shroff brought to the mainstream. And now he wants to own the rights to it too. In May, triggered by memes circulating without his consent, Shroff filed a petition with the Delhi High Court to protect his name, publicity, and personality rights. But this is not the first time that an actor has taken the legal route on the issue of identity protection. In 2022, the Delhi High Court said Amitabh Bachchan’s voice and images can be used only after the actor’s approval. It was followed by Anil Kapoor, who claimed rights on his jhakaas catchphrase, along with mannerisms, voice, and likeness. “Celebrities are more aware of the implications today and this will develop through case laws,” says Avadhi Joshi, Partner…

JUN 6, 1997 Born through the Bangkok Declaration; initially called Bangladesh, India, Sri Lanka, Thailand Economic Cooperation (BIST-EC) DEC 1997 Myanmar joins and it is renamed BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka, Thailand Economic Cooperation) 2004 Nepal and Bhutan come on board; name changed to the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation 2014 Permanent Secretariat established in Dhaka; Sumith Nakandala of Sri Lanka appointed the first Secretary General 2022 BIMSTEC charter signed and seven sectors of co-operation identified 2024 BIMSTEC’s new charter enables partnerships with UN and international bodies to tackle security and development…

What was the problem you were grappling with? Nazara Technologies embarked on a pioneering quest to enter the public markets in India in 2018. However, as a young and lesser-known sector at that time, this quest presented significant challenges. There was a lack of investor familiarity and limited public awareness of the sector’s potential, and attracting sufficient funds for a nascent industry necessitated educating potential shareholders, the media, and investors. Whom did you approach for advice and why? Overcoming the limitations of a nascent sector, we started actively participating in the mergers and acquisitions in the Indian gaming industry to showcase our faith in the sector. This strategy aimed to showcase the industry’s potential to a wider audience. With the intent to file for an IPO, we secured investments from…

SOURCE: MCX, CMIE ECONOMIC OUTLOOK, COMMTRENDZ RESEARCH For a related story, turn to P82 15.5% Return (YTD) delivered by gold in 2024 as of June 6, 2024, compared to 10% a year ago 24% Surge in silver prices in 2024 so far, compared to 6% in the corresponding period in 2023 ₹78,000 The likely (spot) price of gold (per 10 gm) by the year-end, while the silver (spot) price is expected to touch ₹1.1 lakh per kg by the end of 2024…

72 MINISTERS The current size of the Union Council of Ministers, including Prime Minister Narendra Modi. It can have a maximum of 81 members 240 SEATS The number of seats the BJP has in the Lok Sabha, forcing it to rely on coalition partners to get past the majority mark of 272 in the 543-member lower House of Parliament 100 DAY AGENDA Prime Minister Modi had asked key ministries to prepare an action plan when the election was ongoing to help the new government hit the ground running after taking charge ₹47.6 LAKH CRORE The size of the Interim Budget presented before the General Elections. Now that the government has been sworn in, the focus has shifted to the Budget for 2024-25 set to be presented in July…

1 ITC’s hotels business was launched in 1975 through the acquisition of a property in Chennai 2 After the demerger from the conglomerate, ITC’s hotels business is expected to list in 15 months 3 For FY24, it had revenues of over ₹3,100 crore or less than 4% of ITC’s overall revenues 4 Analysts believe there is enough momentum in organic growth for the hotels business 5 Brands such as Mementos, Welcomhotel, Storii, Fortune Hotels and WelcomHeritage are a part of the portfolio of ITC’s hotels business…

Ask any frequent flyer in India which innovation has made their lives easier in recent times, and a majority is likely to mention Digi Yatra. For travellers on domestic flights, this service based on facial recognition eliminates the need to carry a copy of the boarding pass and show their ID at the airport. The organisation behind this service is Digi Yatra Foundation, helmed by CEO Suresh Khadakbhavi. An electronics & communication engineer by training who had a 15-year-plus stint with Bangalore International Airport Ltd, the 55-year-old says the service is still in the process of scaling up. In an interview with Business Today’s Tech Editor Aayush Ailawadi, Khadakbhavi talks about the technology, privacy, the foundation’s structure, and the way ahead. Edited excerpts: Q: Could you walk us through how Digi Yatra’s technology works…

IT’S A TECH-DRIVEN world and India is on the fast lane to lead in tech knowledge and skills. Under the new government, much of the focus will be on continuing and expanding the policies initiated in the previous terms. Growth will likely depend on strategic reforms and initiatives in data protection, tech manufacturing, AI, green tech, digital literacy, semiconductors, and space tech. There has been speculation about India’s ability to produce high-quality hardware and software, and changes in key legislative decisions can cement the country’s position in global tech. In the road ahead, the IT ministry, with Ashwini Vaishnaw at the helm, will have to carefully plan and implement key bills to realise the full potential of the reforms. PRIVACY CONCERNS The Digital Personal Data Protection (DPDP) Act and the…

1 Geographic centrality of the Bay of Bengal 2 BIMSTEC is a unique organisation as it brings together five countries from South Asia and two from Southeast Asia 3 Unlike Saarc, BIMSTEC focusses on technical and economic cooperation and steers clear of political concerns 4 BIMSTEC has its own charter and well-established decision-making mechanisms, including summits and ministerial meetings 5 BIMSTEC has clearly identified areas of co-operation, organised in seven sectors, with each member state taking the lead in one…

NIHARI NOOK, SHAWARMA Square and Salami—these are the names of conference rooms at the Bengaluru headquarters of gourmet meat delivery brand Licious. Housed in Domlur, in the eastern part of the Garden City, everything in the office is about meat: Be it the pinkish salmon colour palette or partitions that resemble chopping boards. The interiors of the office are a meat-eater’s dream. But for Licious Co-founders Vivek Gupta and Abhay Hanjura, they have a much deeper meaning. There is a social stigma associated with selling meat and seafood, so giving it more acceptability is what the Co-founders have worked towards from the time they met—Gupta was working with Helion Ventures, while Hanjura was well-set in insurance risk management—and got the business off the ground in mid-2015. The ambitious twosome spotted…

SLOW AND STEADY INDIA HAS ATTRACTED MORE THAN $703 BILLION IN FDI SINCE FY14, BUT HAS EXPERIENCED A DECLINE IN FDI INFLOWS IN THE PAST TWO YEARS P: PROVISIONAL FIGURES SOURCE DPIIT SECTORAL FLOWS THE SERVICES SECTOR WITNESSED A DIP IN FDI (EQUITY) INFLOWS OF $2 BILLION IN FY24, WHILE THE INFRASTRUCTURE SECTOR SAW A SIMILAR SURGE IN INFLOWS SOURCE DPIIT TOP OF THE TABLE MAHARASHTRA HAS ATTRACTED THE HIGHEST AMOUNT OF FDI (EQUITY) OVER THE PAST TWO YEARS, WHEREAS KARNATAKA HAS WITNESSED A SHARP DECLINE DURING THE SAME PERIOD NOTE STATES AND UTs WITH AT LEAST $1 BILLION IN EQUITY INFLOWS IN FY24 HAVE BEEN CONSIDERED SOURCE DPIIT POWER, REALTY SURGE THE POWER AND REALTY INDICES HAVE RALLIED MORE THAN 100% SINCE THE END OF FY23 BECAUSE OF THE…

WITH THE NATIONAL Democratic Alliance (NDA) securing another term, all eyes in the private healthcare sector are on the potential reforms to the flagship health insurance scheme, Ayushman Bharat. The ambitious scheme, launched in September 2018, aims to provide health coverage of ₹5 lakh per beneficiary family per annum to over 500 million citizens and has been touted as the world’s largest health protection programme. Although Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PM-JAY) claims to have reduced out-of-pocket healthcare expenses for millions of families, it has faced operational challenges. The industry says one of the major issues is delayed reimbursements to private hospitals, which has led to cash flow problems and hampered their operational efficiency. The delays in reimbursements have discouraged some hospitals from seeking empanelment under the scheme. Private…

Steep inflation and lack of discretionary spending power have impacted sales of mass-market products across sectors, hurting manufacturers Low-income households and rural consumers have cut down on spending on high-value items like two-wheelers and small cars and on daily groceries after the pandemic The impact of the loss of income, low salaries, and high inflation has been felt across sectors, from home appliances to FMCG products A recovery in rural consumption is visible in 2024 with volume growth of mass-market FMCG products, appliances and two-wheelers For a full recovery, however, companies are betting on good agricultural yield, higher government spending on welfare, and muted inflation…

Support economic growth through collaboration on projects Share training and research facilities for education and technical projects Work together for economic and social well-being Work together to support national development plans of member states Collaborate on common economic, social, and scientific goals Build partnerships with similar international and regional organisations 1.8 BILLION Total population of the member countries, which is 22% of the global population $4.5 TRILLION The combined GDP of the group, which is around 4.45% of global GDP…

IN INDIA, THERE IS A BIG SOCIAL STIGMA ABOUT SELLING MEAT AND SEAFOOD THE MEAT DELIVERY START-UP IDENTIFIED AN OPPORTUNITY AND LATENT DEMAND FOR SALE OF HYGIENIC MEAT IN THE COUNTRY THE ONLINE MEAT MARKET IS CURRENTLY SMALL, BUT IT IS EXPECTED TO TAKE OFF OFFLINE IS AN AMBITIOUS FORAY FOR LICIOUS, BUT IT WILL NEED TO CRACK THE COST FORMAT TO BE SUCCESSFUL THE MEAT DELIVERY STARTUP IS LOOKING TO OPEN FIVE OFFLINE STORES IN BENGALURU BY THE END OF JUNE 2024 BUILDING A SUPPLY CHAIN FROM SCRATCH FOR MEAT AND SEAFOOD HAS BEEN LICIOUS’S BIGGEST ACHIEVEMENT SOURCE DELOITTE, INDUSTRY…

Solving jigsaw puzzles is more than just a leisurely activity for some; it could also be a journey through the lanes of nostalgia back to childhood, where every piece holds a memory waiting to be uncovered. As fingers delicately piece together fragments of colourful landscapes or vivid images, one is taken over by a sense of excitement reminiscent of simpler times. Each puzzle becomes a portal to a world of imagination, where challenges are conquered one piece at a time, and triumph is celebrated with every completed section. Therefore, it isn’t surprising that Nupur Garg—a seasoned venture capitalist—is not only known for her astute business acumen but also for her abiding passion for solving jigsaw puzzles. For Garg, who is the Founder of Winpe, a platform dedicated to advancing gender…