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eB2B Retail in India – Cruise Control Post COVID-19

DUBLIN, Oct. 13, 2020 /PRNewswire/ — The “Unlocking the Indian EB2B Retail Opportunity” report has been added to ResearchAndMarkets.com’s offering.

Driven by consistent expected increase in private consumption, the Indian retail market is expected to grow at ~10% CAGR to reach ~$ 1.6 TN by FY 25. Despite the current economic slowdown and the expected normalized real GDP forecast of 6 to 7%, this report expects the private consumption expenditure to continue driving ~60% of the nominal GDP. This is predominantly going to be driven by consumer retail consumption of goods, which is expected to continue driving ~50% of the private consumption. Driven by the same, the consumer retail market will grow at 10% YoY from nearly $900 BN today to reach $1.6 TN by FY 25.

This huge retail market is facilitated through a long B2B retail supply chain between the brand/manufacturers, and the end consumer through multiple

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Indian Workers in Libya Released after Month-long Abduction | India

CAIRO — An armed group has released seven Indian workers a month after their abduction in Libya, the Indian Foreign Ministry said Oct. 12.

The Indian nationals, who are engineers and technicians working for an oil services company, were freed Oct. 11 after negotiations with the armed group, the interior ministry of eastern Libya’s government said in a statement. It was not immediately clear who was behind the abduction.

In recent years India, like many other countries, has imposed a travel ban on Libya because of the security situation in the mostly lawless North African country.

India’s Foreign Ministry Oct. 12 confirmed the kidnapped workers’ release after “steadfast cooperation” from Libyan authorities and tribal elders in the region.

It said the workers, who were abducted on Sep. 14 while at Al-Shwerif, over 400 kilometers (248 miles) southwest of Tripoli, were handed over to their employer, the al-Shola al-Mudia company, in

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Get TV Channels to Watch in India and Free Telecast Time in IST

Argentina will look to their keep their winning momentum alive when they travel to Bolivia in their second game of the CONMEBOL 2022 World Cup qualifier. A Lionel Messi penalty was enough for the Argentinians to win their opening game against Ecuador. But the manner of the win would not have gone down well with the fans with Argentina creating precious little. Playing against Bolivia in an away tie is always a challenge owing to the harsh conditions and it will be interesting to see how the visitors cope up. Bolivia come into the game on the back of a 5-0 thrashing at the hands of Brazil which is not an ideal situation. Bolivia versus Argentina starts at 1:30 am IST. Lionel Messi’s Early Goal Helps Argentina Secure 1-0 Win Over Ecuador In 2022 World Cup Qualifiers, Netizens Hail Barcelona Legend (Watch Video).

Also Read | How to Watch Brazil

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India announces economic stimulus to boost demand by US$10bil; big growth in mobile subscriber base

NEW DELHI, Oct 13 (Reuters): India has announced steps to stimulate consumer demand, including advance payment of a part of the wages of federal government employees during the festival season and more capital spending as it tries to bolster the pandemic-hit economy.

The government will allow its employees to spend tax-exempt travel allowances on goods and services, Nirmala Sitharaman, India’s finance minister told a news briefing.

She said the government will also shore up investment by spending extra 250 billion rupees (US$3.41 billion) on roads, ports and defence projects, and offering 120 billion rupees in interest-free 50-year loans to state governments for spending on infrastructure before March 31,2021.

“All these measures are likely to create an additional demand of 730 billion rupees (US$9.96 billion),” Sitharaman said, adding the proposals would stimulate demand in a “fiscally prudent way.”

Prime Minister Narendra Modi’s government, which imposed a tough lockdown to stem the

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Hiring activity in India up 24% in September : The Tribune India

New Delhi, October 12

Driven by industries like pharma, fast-moving consumer goods, education and IT, hiring activity in India saw a growth of 24 per cent in September compared to the previous month, according to a new report by job portal Naukri on Monday.

Further opening up of the economy with unlock measures and increased mobility has led to an improvement in hiring activities in industries like real estate, auto/ancillary and hospitality/travel versus August, revealed the Naukri JobSpeak Index for September.

Key industries such as business process outsourcing (BPO)/IT enabled Services (ITeS) and banking and financial services continue to post robust growth sequentially, said the report.

“While the hiring is yet to touch last year levels and is down by 23% in Sept’20 versus Sept’19 but this is also a marked recovery from a 35%-60% decline that we have witnessed in the last few months,” Pawan Goyal, Chief Business Officer,

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lockdown: Business travel picks up in India for first time since lockdown

Few key executives and engineers of Skoda Auto Volkswagen India have travelled in the last six months to revamp its factory, sales and service outlets.

Synopsis

Top corporates such as Maruti Suzuki, Hyundai, Mercedes Benz, ITC, Parle Products, Vivo, Oppo, Lenovo, Mondelez, and Panasonic have given some relaxation to travel restrictions for critical work and projects which cannot be completed through video-conferencing.

Kolkata/Mumbai: Business travel has picked up in India for the first time since the lockdown with several top corporates allowing employees, including chief executives, business heads and even mid-level managers, to travel in both domestic and international routes.Top corporates such as Maruti Suzuki, Hyundai, Mercedes Benz, ITC, Parle Products, Vivo, Oppo, Lenovo, Mondelez, and Panasonic have given some relaxation to travel restrictions for

BY

ET Bureau

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India announces economic stimulus to boost demand by $10 billion

By Aftab Ahmed, Manoj Kumar

NEW DELHI (Reuters) – India on Monday announced steps to stimulate consumer demand, including advance payment of a part of the wages of federal government employees during the festival season and more capital spending as it tries to bolster the pandemic-hit economy.

FILE PHOTO: Finance Minister Nirmala Sitharaman arrives at her office before leaving for parliament to present the federal budget in New Delhi, India, July 5, 2019. REUTERS/Anushree Fadnavis/File photo

The government will allow its employees to spend tax-exempt travel allowances on goods and services, Nirmala Sitharaman, India’s finance minister told a news briefing.

She said the government will also shore up investment by spending extra 250 billion rupees ($3.41 billion)on roads, ports and defence projects, and offering 120 billion rupees in interest-free 50-year loans to state governments for spending on infrastructure before March 31,2021.

“All these measures are likely to create an additional

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India finance minister announces steps to boost consumer demand

NEW DELHI, Oct 12 (Reuters) – India’s finance minister on Monday announced steps to stimulate consumer demand including advance payment of a part of the wages of federal government employees for spending during the festival season, part of efforts to bolster the pandemic-hit economy.

The government will also allow its employees to spend travel allowances that are an income-tax-exempt part of their salaries on goods and services, Nirmala Sitharaman told a news briefing.

“This is expected to create a consumer demand of about 280 billion rupees ($3.83 billion),” she said.

Prime Minister Narendra Modi’s government, which imposed a tough lockdown to stem the spread of the coronavirus in March, is pushing ahead with a full opening to try to boost the economy ahead of the usually high-spending festival season.

($1 = 73.1541 Indian rupees)

(Reporting by Aftab Ahmed and Manoj Kumar; Editing by Catherine Evans)

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Covid set to boost demand for travel insurance in India

MUMBAI: India’s nascent, yet growing, travel insurance market is set to get a major pandemic push.

Thousands of Indian students, executives and tourists who have deferred their foreign trips due to Covid-19 will likely have to buy compulsory travel insurance policies when countries open their borders for unrestricted travel, said sector experts. Insurance companies are anticipating a massive surge in demand for such products.

Insurance cover for travellers so far had not been compulsory in most countries — those where it was mandatory included the US, Russia, Qatar, Cuba and the Central European countries. But now many countries with high ceilings on social security are making that mandatory for foreign nationals planning extended visits. Thailand and other Southeast Asian countries are reportedly mulling on making this compulsory.

“Up till now, apart from Schengen countries and the US, travel insurance was not mandatory for foreign travels,” said Tarun Mathur, a cofounder

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Impact of Coronavirus COVID-19 Pandemic on Wedding Industry in India

The Indian wedding industry, worth around $50 billion, is among the sectors that has been severely impacted by the coronavirus pandemic. We caught up with wedding photographers Ankita Asthana and Akash Agarwal of WeddinNama to find out how the industry is bouncing back now that restrictions have been lifted.

Here are excerpts from the interview.

How has the pandemic impacted the wedding industry in India?
Ankita: Oh, it’s been like a pause button. Weddings thrive on social gatherings and human interaction and that is exactly what got affected by this pandemic. So it is no surprise that the industry has got severely hit. Not only did the weddings planned this year get postponed but even people who wanted to plan one next year are not able to do so because of uncertainty and risk factors. 

Akash: Almost everyone in the over-a-crore people who are involved in the wedding industry are

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