As per a Goldman Sachs report, the count of “affluent” Indians, individuals earning $10,000 or more annually, has surged 12 times faster than the overall population in the last four years, with an expected count of 100 million by 2027. This growing affluent class is significantly impacting consumption in areas like leisure, jewelry, out-of-home food, healthcare, and premium brands, with mid-teen growth anticipated in the medium term. The report highlights the outpacing growth of the affluent segment within the working-age population, contributing to a positive impact on various sectors. The report reveals that the affluent population in India has grown…
Author: Shradhanjali Mukherjee
Shradhanjali Mukherjee
Salina Shah
In the initial race of the 2024 presidential election, Nikki Haley, a Republican, secured the third position in the Iowa Caucus on January 15, trailing behind former president Donald Trump, who garnered over 51 percent of the vote. Despite sub-zero temperatures, voters turned out in Iowa to cast their votes, making it a crucial event shaping the trajectory of the presidential primaries. Traditionally, Iowa serves as a pivotal indicator of primary outcomes. Haley claimed 19 percent of the vote, with DeSantis slightly ahead by fewer than 1,500 votes as of 9 pm. The Associated Press, declaring Trump as the winner,…
Prime Minister Narendra Modi disbursed the initial installment to one million beneficiaries of Pradhan Mantri Awas Yojana – Gramin (PMAY-G) through Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN) via video conferencing. Over the last two months, 7500 camps in 100+ districts facilitated essential document creation, ensuring Adhar cards, birth certificates, and bank accounts for citizens to avail themselves of central government schemes. Various ministries have approved schemes amounting to $56.63 million, including durable housing for one million beneficiaries and 1200 km of roads for underdeveloped regions. Additionally, proposals for 100 girls’ hostels, 900 Anganwadi centers, 100 medical units, and…
Vivek Ramaswamy, a wealthy former biotech executive, concluded his White House bid and threw his support behind Donald Trump after gaining attention but falling short in the Iowa Republican Party’s first nominating contest. Born in Ohio to immigrant parents from southern India, the 38-year-old became a surprise candidate in the 2024 Republican race, aligning himself staunchly with Trump. Despite securing attention for his youth, financial resources, and assertive campaigning, Trump criticized him before the Iowa caucus, damaging Ramaswamy’s standing. He finished fourth with about 7.7% of votes. Known for his 2021 bestseller “Woke, Inc.,” Ramaswamy criticized corporate decisions centered on…
Prime Minister Narendra Modi announced on Friday that he will embark on a special 11-day ‘anushthan’ (ritual) starting today until January 22, coinciding with the Pran Pratishtha ceremony of Ram Lalla’s new idol in Ayodhya’s Ram Temple. Expressing gratitude for witnessing this “historic” and “auspicious” event, PM Modi highlighted the importance of representing all Indians during the consecration. Scheduled for January 22, the Pran Pratishtha ceremony of the new idol of Ram Lalla in the upcoming Ram Temple will be performed by PM Modi himself. Despite a hectic schedule and responsibilities, he emphasized his commitment to rigorously following all the…
Laxman Narasimhan, the Indian American CEO of Starbucks, recently undertook his first homecoming trip to India since assuming leadership. This two-city visit held special significance as Narasimhan spent his formative years in Pune and worked in Mumbai before his international career, adding a personal touch to the journey. In collaboration with Tata Starbucks Private Limited, Starbucks presently manages 390 stores in 54 cities across India, boasting a workforce of nearly 4,300 partners. The ambitious plan is to open an additional 1,000 stores by 2028, equivalent to one store every three days. Reflecting on this upward trajectory, Narasimhan unveiled plans to…
During the 10th edition of Vibrant Gujarat Global Summit in Gandhinagar, Gujarat, Union Minister of Commerce and Industry, Mr. Piyush Goyal, addressed the ‘UAE India Business Summit.’ He outlined the ambitious goal of elevating bilateral trade between India and the UAE to US$ 100 billion. Mr. Goyal underscored the extensive collaboration opportunities, spanning areas like space exploration, security, education, and climate action. Commending the India-UAE partnership, Mr. Goyal highlighted the significant trade growth facilitated by the India-UAE Comprehensive Economic Partnership Agreement and strategic initiatives like the India-Middle East-Europe economic corridor. The Union Minister envisioned this partnership as a defining alliance…
A prominent delegation from the US-India Strategic Partnership Forum (USISPF), led by CEO Dr. Mukesh Aghi, engaged in a productive roundtable discussion with Gujarat’s Chief Minister, Bhupendra Patel, at the Vibrant Gujarat Global Summit 2024. Comprising officials from 35 Fortune American companies, the delegation discussed investment opportunities within Gujarat International Finance Tec-City (GIFT) and International Financial Services Centre (GIFT IFSC). They explored collaborative ventures in Gujarat’s key industrial, business, IT, and FinTech sectors. Chief Minister Patel expressed enthusiasm for the ongoing collaboration between USISPF and Vibrant Gujarat, highlighting efforts in leading high-level industry delegations to the summit. Emphasizing the significance…
On Friday, the Ministry of Defence (MoD) announced the successful flight-test of the New Generation AKASH (AKASH-NG) missile conducted by the Defence Research and Development Organisation (DRDO). The test, executed at 1030 hrs on January 12, 2024, demonstrated the interception and destruction of a high-speed unmanned aerial target at very low altitude. This verified the functionality of the entire weapon system, including the missile equipped with an indigenously developed Radio Frequency Seeker, Launcher, Multi-Function Radar, and Command, Control, and Communication system. The Integrated Test Range (ITR) at Chandipur off the coast of Odisha served as the location for the flight…
During the opening day of the Vibrant Gujarat Global Summit 2024, Prime Minister Narendra Modi articulated India’s ambitious vision to evolve into a developed nation by its centenary year of Independence in 2047. Encouraging the audience to dream big, he expressed unwavering determination to fulfill those aspirations. Referring to the upcoming 25 years as ‘Amrit Kaal,’ a pivotal phase in India’s development journey, Modi emphasized the nation’s progress, from recently celebrating 75 years of Independence to aspiring for recognition as a developed country at the century mark. The 10th edition of the Vibrant Gujarat Global Summit, initiated in 2003 during…
