Search Result for : Domestic Consumption

The Dollar Business Bureau US-based technology giant Apple Inc on Wednesday said it is starting initial production of iPhone SE in a ‘small number’ in Bengaluru and begin the shipping of its ‘Made in India’ phone to domestic consumers this month. “We are beginning initial production of a small number of iPhone SE in Bengaluru. iPhone SE is the most popular and  powerful phone with a four-inch display in the world and well begin shipping to domestic customers this month,” the company said. Earlier, in February, the government of Karnataka had announced the proposal of Apple to begin initial manufacturing process in Bengaluru. Priyank Kharge, IT Minister, Karnataka government had said on March 30 that Apple Inc would be ready to commence the assembling of iPhones in Bengaluru within a ...

The Dollar Business Bureau ICRA, in its new report, predicts that the limited duty-free import of sugar allowed by the Government of India will not help ease sugar prices, which have been rising owing to a 19% cut in output this year. The sugar output in the current year is forecasted at 20.3 million tonnes (mt) while the annual domestic sugar demand is pegged at 24 mt. The government expects a comfortable supply of sugar in the country after adding last year's closing stock of 7.7 mt and an additional import permit of 0.5 mt. Nevertheless, the report released by ICRA says that the sugar prices will stay firm as the closing stock will drop to 4.5 mt – 5 mt this year, which is only sufficient to meet demand for two months into the ...

The Dollar Business Bureau The domestic consumption story of India is likely to increase three-fold to $4 trillion by 2025 as the increasing affluence levels led to changes in the behaviour of consumers and the patterns of spending which have huge implications for the firms, a report by the BCG said. A minimal year-on-year growth of expenditure of 12% in India is more than two-fold compared to the anticipated world rate of 5% and this will make it the third-biggest consumer market at $4 trillion by 2025, the report said. India is already the third biggest economy with regards to purchasing power. "The consumer market in India is set for fundamental changes,” said Nimisha Jain, a partner at BCG and co-author of the report. ...

The Dollar Business Bureau The natural rubber output in India has increased by 21 percent to reach 58,000 tonnes in the month of August, whereas the imports jumped by 27 percent to 47,540 tonnes, as per the date revealed by Rubber Board.  During August 2015, the production of natural rubber was 48,000 tonnes whereas imports stood at 37,413 tonnes. The data also shows that the consumption of natural rubber increased by 6 percent to 87,500 tonnes in the month of August this year against the 82,725 tonnes in the same period a year ago.  However, exports declined to 28 tonnes during the period under review, as compared to 155 tonnes in the previous year. During the first five months of the current financial year, ...

The Dollar Business Bureau In an effort to take the production capacity to the next level, Lava International Ltd, an Indian mobile phone making company, is planning to set up a second assembly facility in Greater Noida, revealed an official from the company. The first assembly unit of the company, which is also located in Noida, has the capacity of producing 1 million units a month. With the addition of second unit, the overall production is likely to be near 2.5 million units per month, said Luke Prakash, Senior Vice-President and Hub Head, Lava International Ltd. The current capacity of the company is little above a million mobiles a month, he said. In addition to the second unit, the company is also mulling plans to ...

After a 7.2% economic growth in 2014-15, the expansion in economy will be 7.6% in the current fiscal, the fastest in the world, says survey Source: PTI Inspite of challenges and lower than projected GDP growth rate during 2015-16, the fiscal deficit target of 3.9% of GDP seems achievable.   Ahead of the Union Budget, the Economic Survey on Friday termed external environment as challenging but projected a 7-7.5% GDP growth rate in the next fiscal which could accelerate to 8% in a couple of years. The Economic Survey for 2015-16, which was tabled in Parliament on Friday, also made a case for carrying forward the reform process to achieve macro-economic stability. Inspite of challenges and lower than projected GDP growth rate during 2015-16, "the ...

Source: PTI China's GDP decelerated to 6.9% in the third quarter of this year, posting its worst growth since the 2009 global financial crisis which could prompt the Communist giant to roll out a new stimulus package to arrest the slowdown of the world's second largest economy. China's economy slid below the targeted 7% in the third quarter this year, the weakest since the global financial crisis in 2009 amid continued fall of exports mounting pressure on the country's economy. The economy posted a 6.9% growth year on year in the third quarter of 2015, lower than 7% in the first half of the year, China's National Bureau of Statistics (NBS) announced on Monday. The government has set 7% as the GDP ...

Source: PTI China's foreign exchanges reserves, the largest in the world, continued the declining trend for the fourth month falling to $3.51 trillion last month while the gold reserves too decreased amid the economic slowdown. The forex reserves decreased by $43.26 billion in September, marking the fourth consecutive month of decline, said People's Bank of China, the country's central bank. China's foreign exchange reserves fell to $3.51 trillion at the end of September, it said on Wednesday. But the September decrease was not as sharp as in August. The reserves dropped by a record $93.9 billion in August following the nearly four per cent devaluation of Chinese currency, causing concern over sudden dip in the reserves which were accumulate in the ...