Author: Bhakti Narayanan

In the initial three quarters of FY24, Limited Liability Partnerships (LLPs) saw a remarkable 54% year-on-year surge, contrasting sharply with the modest 4% increase in company registrations during the same period, according to official data. A senior government official attributed this substantial growth in LLP registrations to the resilient prospects of services exports, which have remained strong despite a slowdown in global goods shipments amid a worldwide economic deceleration. Additionally, the official noted a noteworthy resurgence in domestic services trade during the current fiscal year. Ministry of Corporate Affairs (MCA) data reveals record highs in registrations with 42,524 LLPs and…

Indian pharmaceutical companies are projected to experience a revenue expansion of 9-11% in the fiscal year 2024, as indicated by a recent report from credit rating agency ICRA. The expected growth is linked to a resurgence in the US market, strategic acquisitions, and the introduction of new products. The crucial US market is anticipated to contribute 11-13% to the overall growth in FY2024. Despite brief challenges from price controls and weather uncertainties, the domestic market is forecasted to grow by 7-9% in FY2024, fueled by price hikes and the launch of new products. ICRA’s outlook is based on a sample…

A recent report by Media Partners Asia (MPA) reveals that India’s video industry revenues have surged to US$ 13 billion, surpassing Korea and Australia but trailing behind China and Japan in the Asia-Pacific region. The forecast anticipates further growth, reaching US$ 17 billion by 2028. In 2023, the Asia-Pacific video sector experienced a 5.5% growth, amounting to US$ 145 billion. Notably, online video sales demonstrated a significant 13% increase, totaling US$ 57 billion. In contrast, TV revenues exhibited modest growth, just under 1%, aggregating to US$ 98 billion, according to MPA, a reputable provider of advisory, consulting, and research services…

In Counterpoint’s 2023 report concerning the global premium smartphone market, a notable projection highlights that China, India, the Middle East, Africa, and Latin America are on the brink of achieving unprecedented sales records in the premium segment. Particularly noteworthy is the anticipation of India becoming the fastest-growing premium market globally. The report underscores that this surge is predominantly fueled by the ultra-premium category, representing smartphones priced at $1,000 and above, constituting more than a third of total premium market sales in 2023. A discernible shift in consumer buying behavior within the smartphone market is evident. Recognizing the integral role smartphones…

Preparations are underway in the Manesar factory, Haryana, to create history with a proposed 823-feet-tall statue of Lord Ram for Ayodhya. Sculptor Naresh Kumawat has been commissioned for this monumental project, aiming to set a world record as the tallest statue. The statue, weighing 13000 tonnes, is planned for installation on the banks of the Sarayu River in Ayodhya. If approved, this statue of Lord Ram could potentially become the world’s tallest, surpassing the current record held by the 790 feet Statue of Unity in Kevadia, Gujarat. In contrast to the Statue of Unity, which had a significant portion made…

Maryland Governor Wes Moore has unveiled his selections for the Governor’s Commission on South Asian American Affairs. This commission is entrusted with advising the administration and state entities on matters concerning Maryland’s growing South Asian American community. Heading the commission is Gurpreet Takhar, CEO of Tru Health Now, overseeing community health centers. Other Indian-origin appointees include Arti Bhatt, Raj Borsellino, Kausik Das, Preeti Emrick, Preeti Menon, Nivea Ohri, Sushma Potluri, Amarjeet Sandhu, Devang Shah, Harshid Shah, Aman Shergill, and Archana Thakkar. Takhar, CEO of Tru Health Now, manages community health centers. Bhatt specializes in diversity at the Public Company Accounting…

India is anticipated to maintain its position as the world’s fastest-growing major economy in 2024, buoyed by strong consumer demand driving increased investments across various sectors. The Associated Chambers of Commerce and Industry of India (Assocham) highlighted this trend, emphasizing growth in construction, hospitality, and critical infrastructure like railways and aviation. The country has sustained its status as the fastest-growing major economy, with an impressive 7.6% GDP expansion in the first half (April-September) of 2022-23. This surpasses expectations and exceeds the Reserve Bank of India’s projection of 6.5%. Official data released on Thursday indicates significant improvement compared to the previous…

In the year 2023, Savills India reported a significant upswing in the industrial and logistics sector, with absorption reaching 49.4 million sq ft—an impressive 6.7% growth compared to 2022’s absorption of 46.3 million sq ft. Notably, Tier-I cities accounted for 75% of this absorption trend, with Tier II and III cities contributing the remaining 25%. The emergence of these latter cities as vital sourcing hubs has notably improved distribution efficiency. The heightened demand in manufacturing and retail, coupled with sustained requirements from the 3PL sector, has been the driving force behind this absorption trend. Mr. Srinivas N, the Managing Director…

Tufts University’s business school, the Fletcher School, has identified India as possessing significant potential in Artificial Intelligence (AI), ranking it 15th among the top 25 AI nations. The research, led by Mr. Bhaskar Chakrovorti, analyzed four key drivers of AI development, including data accumulation, regulatory frameworks, capital considerations, and innovation indicators. India’s 15th position places it ahead of countries like Brazil, Argentina, Mexico, Turkey, and Thailand, highlighting its substantial standing in the AI landscape. India’s status as the second-fastest-growing data pool, following only Indonesia, underscores its noteworthy potential in AI. With the world’s largest mobile data pool, India has a…

Economists project a 6.7% growth rate for the Indian economy in the fiscal year 2023-24, indicating resilience amidst external challenges. This estimate, provided by 11 economists, demonstrates crucial support from domestic demand and increased investments. Although it represents an improvement from the prior month’s 6.3% estimate, it slightly lags behind the recent Reserve Bank of India (RBI) forecast. The RBI raised its growth projection to 7%, citing a better-than-expected 7.6% GDP increase in the September quarter. The first-half growth for the fiscal year reached 7.7%, with the government expected to release initial advance estimates on January 5. Despite the positive…