Innholdsfortegnelse for 2 February 2025 i Business Today

IT IS A good time for companies to venture into the fast-moving consumer goods (FMCG) space. Increased spending reflects greater confidence in launching new brands or exploring low-penetration and untested product segments. A quick glance at FMCG valuations and the rising stock performance for some of the listed entities highlight this growing trend. Quite clearly, investors like the sector and brands with high market share in segments that are poised for growth are most sought after. Against this backdrop, Gautam Adani-led Adani Group’s decision to exit its stake in food FMCG major Adani Wilmar appears both surprising and intriguing. A significant portion of Adani Wimar’s revenue of over ₹51,500 crore in FY24—comes from edible oils, a high-volume, low-margin category (₹171 crore net profit in the same fiscal, reflecting a margin of…

A SIGNIFICANT OPPORTUNITY lies ahead for the Indian pharmaceuticals industry in 2025-26. During this period, the patents of 20-25 high-revenue drugs will expire—a situation known as the patent cliff—presenting a big chance for Indian firms to introduce more affordable alternatives, adding to their already impressive supply of over 20% of the world’s generic drugs. “India already has a strong position in the global generic drugs market. The patent cliff will further enhance this role,” says Rashmi Chaturvedi Upadhyay, Senior Pharma Consultant at Dialectica, an information services firm. In 2025-26, the patents for key drugs such as Keytruda (developed by US pharma major Merck for cancer immunotherapy) and Ozempic (produced by Danish firm Novo Nordisk and used for diabetes and anti-obesity treatment) will expire. Keytruda alone generated over $25 billion…

OLD OR NEW—this ancient debate on the merits of the two has received a new twist in India’s personal income tax. Putting an end to the discussion on which system is better, 2024 marked an important year for the government’s flagship New Tax Regime (NTR). By July 31, 72.8 million Income Tax Returns (ITRs) were filed for Assessment Year (AY) 2024-25, marking a 7.5% increase from last year’s count of 67.7 million, per Press Information Bureau data. Out of that, 72% of taxpayers, or about 52.7 million people, chose the new system, marking a significant shift. Taxpayers claim the primary attraction of the new regime lies in its straightforward approach. They are no longer required to calculate and claim multiple exemptions and deductions, such as Leave Travel Allowance (LTA), House…

WITH THE BUDGET set to be announced on February, there is a lot of speculation over the potential changes to the tax structure, with increasing demand from taxpayers for some relief. Dinesh Kanabar, Chief Executive Officer of professional services firm Dhruva Advisors, speaks to Business Today on what needs to be done, how taxes can be simplified and compliance burden eased. Edited excerpts: From a tax point of view, what are the broad areas that the government should address in this year’s Budget? When the Finance Minister presents the Budget for 2025-26, there will be significant expectations in direct taxes. This is particularly relevant because in last year’s Budget, she explicitly stated that simplification of tax laws was high on the government’s agenda. In that Budget, several changes were made to simplify…

JAIPUR LITERATURE FESTIVAL, JAIPUR Known as the ‘greatest literary show on Earth,’ the Jaipur Literature Festival brings together a rich tapestry of global voices to celebrate the power of literature, ideas, and dialogue. The 18th edition of the festival will see the likes of International Booker Prize winner Geetanjali Shree, Nobel laureates Abhijit Banerjee and Esther Duflo, alongside Bollywood celebrities such as Imtiaz Ali, Javed Akhtar, and Amol Palekar. For those who are looking for a little more than discussions on books, the Jaipur Music Stage will feature incredible performances each evening by popular artists, including Kailash Kher, Kamakshi Khanna, Susheela Raman & Sam Mills, Nathoo Lal Solanki & Chugge Khan, among others. DATES January 30-February 3, 2025  TICKET PRICE ₹200 onwards REGISTER ON jaipurliteraturefestival.org SULAFEST, SULA VINEYARDS, NASHIK SulaFest,…

Metropolis Healthcare is an Indian multinational chain of diagnostic labs What was the problem you were grappling with? In 2015, I needed to increase my stake in the company by taking on a significant amount of debt. My biggest concern was how to manage the required cash flow, especially since I would have to pledge my shares. Whom did you approach for advice and why? I reached out to people I respected greatly. Deepak Parekh, with his deep understanding of finance, helped me grasp the financial implications. Zia Mody offered valuable insight into the legal aspects and safeguards needed. Uday Kotak helped me think about the bigger picture. Harsh Mariwala’s entrepreneurial mindset was a guiding force. Their collective wisdom gave me the clarity to move forward. What advice did you…

Akasa Air took to the skies in August 2022 and has since been recognised as one of the most on-time carriers. Founder & CEO Vinay Dube has been instrumental in steering Akasa through its formative years, building a fast-growing brand in this highly competitive sector. In the inaugural edition of Business Today MindRush PODS, Dube sat down for an exclusive chat with Sanjeev Krishan, Chairperson of PwC in India, and Siddharth Zarabi, Editor, Business Today. Edited excerpts: SIDDHARTH ZARABI: India’s aviation sector has witnessed some pivotal moments in the recent past. How important is this period? VINAY DUBE: India’s economic engine is going to define India’s aviation sector for decades to come. And that has nothing to do with one airline or the other. Think about a country of 1.4 billion…

LOSING APPETITE AFTER RISING TO A SEVEN-QUARTER HIGH IN Q1FY25, PRIVATE FINAL CONSUMPTION EXPENDITURE GROWTH SLOWED TO 6% DURING THE JULY-SEPTEMBER QUARTER NOTE DATA FOR THE RESPECTIVE QUARTERS; SOURCE CMIE ECONOMIC OUTLOOK IN THE SLOW LANE IN 2024, AUTOMOBILE REGISTRATION, A KEY INDICATOR OF ECONOMIC HEALTH, GREW IN SINGLE DIGITS DECELERATING GROWTH GROWTH IN REVENUE AND OPERATING PROFIT OF FMCG FIRMS IN Q3FY25 WAS BELOW THE AVERAGE OF THE LAST EIGHT QUARTERS THE PAY PICTURE IN FY24, INDIA INC. SAW A GROWTH OF 28% IN EBITDA AND 32% IN PAT, WHILE EMPLOYEE EXPENSES INCREASED BY JUST 13% WEAK SENTIMENT GROSS FIXED CAPITAL FORMATION, A MEASURE OF INVESTMENT ACTIVITY, GREW AT 5.4% IN Q2FY25 AGAINST 11.6% A YEAR AGO 4% CONSUMPTION GROWTH IN FY24, THE LOWEST IN 21 YEARS BARRING THE…

THE INDIAN CEMENT industry has been abuzz with mergers and acquisitions (M&As). Ever since the Gautam Adani-led Adani Group acquired cement companies ACC and Ambuja Cements from Swiss cement major Holcim in 2022 for $10.5 billion, there has been a string of acquisitions. Adani acquired cement companies like Sanghi, Penna and Orient, while Aditya Birla Group-owned UltraTech bought over Kesoram Industries’ cement business and India Cements. The M&A story in the cement sector has primarily revolved around South and West India. Now, UltraTech Cement has made a significant move in Northeast India by picking up an 8.69% non-controlling minority stake in listed company Star Cement for an outgo of ₹851 crore or at ₹235 per share. The target company is the largest in the region with a 26% share in…

AS THE GOVERNMENT prepares the Union Budget for 2025-26, which is expected to chart the course for the next four years of Prime Minister Narendra Modi’s government, there is one demand that is refusing to go away: a reduction in income tax rates for India’s burgeoning middle class. Consistently high inflation and pricey food items have eaten into the disposable incomes of urban Indians, with private consumption in urban areas seen to be moderating while salaried and middle-class professionals argue that the main burden of personal income taxes falls on them. Besides, they add, consumers already pay high rates of goods and services tax (GST). The demand for a reduction in rates comes as the number of individual income taxpayers in the country is estimated to cross the 100-million-mark in…

MANDEEP SETHI, A Delhi-based manufacturer, has a particular affinity for baseball caps, especially those made by Italian luxury fashion brand Gucci. “I recently bought the grey and black baseball cap with GG all over. It’s my sixth cap from the same brand,” says the 36-year-old. Sethi says his work doesn’t require him to dress up formally and baseball caps are a part of his style. Except for Gucci, he isn’t really a brand loyalist, and other accessories in his wardrobe include a wallet from Montblanc, belts from Coach, Louis Vuitton and Salvatore Ferragamo, and sneakers from a variety of brands. He also likes wearing leather loafers and his latest purchase is from Italian brand Santoni. What about clothes? “I generally pick up T-shirts from Hugo Boss, Polo Ralph Lauren, and…

REVIEW CHALLENGING THE BEST OPPO positions itself as a serious challenger in the flagship smartphone arena with the Find X8 Pro, boasting high-end specifications. At the heart of its appeal is a focus on camera innovation, thanks to its partnership with front camera and lenses manufacturer Hasselblad. The quad-camera system features four 50MP sensors, excelling in wide, ultra-wide, telephoto, and periscope modes. The dual periscope lenses provide optical zoom up to 6x and digital zoom up to 120x, delivering impressive results for capturing distant subjects with consistent quality. Daytime photography stands out with sharp details, natural colours, and balanced exposures, making it ideal for photography enthusiasts. While low-light performance is decent, it falls slightly behind competitors like the Google Pixel 8 Pro, occasionally losing detail and sharpness. The “AI Telescope…