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India's consumer durables market poised to be world's 4th largest by 2027: CII

YourStory

YourStory · 9m ago

India's consumer durables market poised to be world's 4th largest by 2027: CII

The consumer durables market in India is projected to reach a value of Rs 5 lakh crore by 2030, making it the fourth largest market globally by 2027, according to industry body CII. To ensure the reliability of Indian products and increase global competitiveness, B Thiagarajan, Chairman of CII National Committee on Consumer Electronics and Durables, emphasized the need for a robust quality ecosystem and adoption of standardization. Thiagarajan highlighted the potential for India to become a global manufacturing powerhouse and praised the government's support, including the PLI scheme. He also stressed the importance of investing in R&D and innovation to drive growth in the sector.

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Despite headwinds, India will remain resilient, says Deloitte report

Business Today

Business Today · 2m ago

Despite headwinds, India will remain resilient, says Deloitte report

Despite global uncertainties and protectionist policies, Deloitte's report highlights India's resilience and attractiveness as an investment destination. As the fastest-growing major economy, India's robust domestic demand is poised to drive it to become the world's third-largest economy by 2027. Significant infrastructure investments and a growing middle class are set to boost consumer spending substantially by 2030. India's focus on technology and innovation further enhances its potential, positioning it for continued growth despite short-term global challenges.

India to overtake Japan as the 2nd largest economy in Asia by 2030: S&P Global

IndianStartupNews

IndianStartupNews · 1y ago

India to overtake Japan as the 2nd largest economy in Asia by 2030: S&P Global

India is on track to become the world's third-largest economy by 2030, with a projected GDP of $7.3 trillion, surpassing Japan, according to S&P Global Market Intelligence. The Indian economy is expected to grow by 6.2-6.3% in the fiscal year ending March 2024, making it the fastest-growing major economy. India's robust domestic demand and a burgeoning middle class are significant drivers of this growth, attracting multinational corporations across various sectors. Digital transformation and increased internet access are also set to reshape the consumer market landscape. India's growth is poised to make it a pivotal market for multinationals.

India private consumption at $2.1T, set to be 3rd largest consumer market by 2026: Report

YourStory

YourStory · 4m ago

India private consumption at $2.1T, set to be 3rd largest consumer market by 2026: Report

India's private consumption nearly doubled to $2.1 trillion in 2024 from $1 trillion in 2013, according to a Deloitte India and Retailers Association of India report. Expected to be the world's third-largest consumer market by 2026, India's consumption is driven by rising incomes, digital commerce, and consumer preference shifts toward quality and experience. By 2030, with growing middle-class incomes and digital inclusion, organized retail is set to expand significantly, creating vast opportunities for businesses.

India poised to lead the world in the age of AI, says GitHub CEO

Livemint

Livemint · 1y ago

India poised to lead the world in the age of AI, says GitHub CEO

India is poised to become the world's largest developer community on GitHub, surpassing the US by 2027. GitHub CEO Thomas Dohmke expressed optimism about India's future in software and AI and believes that the country will not only be a global leader but the leader in the age of AI. India currently has over 15.4 million developers on GitHub, and Dohmke believes that the vast population and increasing number of graduates in computer science will ensure sustained growth in the developer community. He also highlighted that AI advancements will require developers to become system thinkers and solve large problems that AI cannot handle alone.

Adani’s resurgence: A $5-7 bn war chest for cement, ports, defence acquisitions

Livemint

Livemint · 10m ago

Adani’s resurgence: A $5-7 bn war chest for cement, ports, defence acquisitions

The Adani group has set aside $5-7 billion for acquisitions in various sectors, including cement, airports, defense, ports, power, and consumer goods. The conglomerate plans to continue its aggressive expansion strategy amid easing concerns following allegations made by a short-seller last year. The group aims to become India's top cement player within five years and is also targeting acquisitions in the defense and aerospace industries. Additionally, the Adani group has allocated $1.5 billion for acquisitions in the ports space to support its goal of becoming one of the world's largest port operators by 2027.

India To Grow At 6.5-6.8% This Fiscal; Festive, govt Spending To Drive Growth: Deloitte

OutlookIndia

OutlookIndia · 1y ago

India To Grow At 6.5-6.8% This Fiscal; Festive, govt Spending To Drive Growth: Deloitte

Deloitte India expects the GDP growth for the current fiscal year to be in the range of 6.5-6.8%. This is mainly attributed to increased festive spending and higher government expenditure ahead of the national elections next year. The report emphasizes that India needs at least 6.5% growth annually to become the world's third-largest economy by 2027, and 8-9% growth to become a developed country by 2047. Deloitte also highlights the importance of domestic demand, particularly private consumption and investment spending, to fuel India's growth.

D2C skincare brand Foxtale raises $14 million funding led by Panthera Growth Partners

Economic Times

Economic Times · 1y ago

Direct-to-consumer skincare company Foxtale Consumer has raised approximately $14 million in a recent funding round led by Panthera Growth Partners. The Mumbai-based startup, founded in 2021 by former A91 Partners executive Romita Mazumdar, raised $4 million in 2022 from Matrix Partners India and Kae Capital. The latest funding will be used to further develop Foxtale Consumer's skincare product offerings and expand its brand presence in the competitive Indian market. With the growth of India's beauty and personal care market estimated to reach $30 billion by 2027, the funding underscores increasing investor interest in consumer brands.

Tariff War Create Opportunity for India in Some of Sectors: CEA

OutlookIndia

OutlookIndia · 1m ago

Tariff War Create Opportunity for India in Some of Sectors: CEA

The ongoing tariff war, initiated by the U.S. administration, is seen as an opportunity for India in certain sectors, according to Chief Economic Adviser V Anantha Nageswaran. Addressing the CII Annual Business Meet, he noted India's benefits like low energy prices. India and the U.S. are working on a bilateral trade agreement. Despite present challenges, India seeks to leverage tariff advantages for long-term economic growth, with plans to double bilateral trade and become a $5 trillion economy by 2027-28.

India's March gold imports set to drop 90% as prices surge: Report

Money Control

Money Control · 1y ago

India's March gold imports set to drop 90% as prices surge: Report

India's gold imports are set to plummet by over 90% in March compared to the previous month, reaching their lowest level since the start of the Covid-19 pandemic. This significant drop is due to banks reducing imports as high prices dampened demand. The decline in imports could help India narrow its trade deficit and support its currency. Global gold prices, which hit a record high recently, may also be limited by lower imports from India, the world's second-largest consumer of the precious metal.

India to be world's third-largest economy by 2030 -S&P Global Ratings

Reuters · 1y ago

India to be world's third-largest economy by 2030 -S&P Global Ratings

India is expected to be the world's third-largest economy by 2030, according to a report by S&P Global Ratings. It is projected to remain the fastest-growing major economy for the next three years, with a growth rate of 6.4% this fiscal year and an estimated 7% growth by 2027. The report emphasizes the need for India to transition to a manufacturing-dominated economy, develop a strong logistics framework, and increase worker upskilling and female workforce participation for sustained growth.

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