- Thursday, March 06, 2025
By: Shubham Ghosh
Here are news related to Indian economy and business for Thursday, November 17, 2022:
The winter has already set in and the temperature has started to drop in Shimla, the capital of the northern state of Himachal Pradesh, with the Tibetan winter business units having started brisk sales in a new market this year. The Tibetans business community, which is in exile in the town, has geared up and the woollen hosiery and jacket trade is the winter hope for the local community, Asian News International reported. During the past two years, the business units were reeling under a big loss due to the Covid-19 pandemic. The pandemic is almost over in the region and so lifted hopes of traders in the region. The Tibetan traders are getting regular and local customers as the market is now shifted to a shopping complex and the old market has been shut here. The traders will have loss of over 30 per cent but at the same time, they are expecting good business as the winter is expected to be extended till the end of February and March.
Leading telecom company Bharti Airtel on Thursday announced the deployment of its Airtel 5G Plus service at Pune Lohegaon Airport, making it the first airport in the western state of Maharashtra to experience 5G services, ANI reported. According to a company statement, customers flying in and out of Pune can enjoy high-speed Airtel 5G Plus across the airport terminal. Passengers can have high speed on their mobile phones while they are at the arrival and departure terminals, lounges, and boarding gates, among others. All customers with 5G smartphones will enjoy the high-speed Airtel 5G Plus on their existing data plans, the company said, adding that there was no need to change the SIM as the existing Airtel 4G SIM is 5G-enabled.
Lakshman Achuthan, co-founder of the New York-based Economic Cycle Research Institute (ECRI), has told Moneycontrol that a rebound in India’s exports will not happen before mid-2023, given the weakness in global demand. “Not in the coming months, certainly not before mid-2023,” he said when asked when exports might see a revival. “But it’s just too soon to tell because our leading indexes don’t yet see any light at the end of the global recession tunnel,” he told Moneycontrol over email last week.
The Indian government could invite Expression of Interest (EoI) for the sale of Air India Engineering Services, the engineering subsidiary of erstwhile national carrier Air India, around January-February, CNBC-TV18 reported on Thursday citing sources. As per earlier reports, the government was aiming to start working on selling the carrier’s ground-handling and engineering arms as it wants to complete the transaction this fiscal. However, sources said plans to sell the ground-handling subsidiary — Air India Airport Services (AIASL) — could also be a long process.
Indian minister for commerce and industry Piyush Goyal on Thursday sought “more integrity” in market research and urged the survey and market research industry to go by the code of ethics to ensure that the industry grows manifold. He also asked it to come up with studies that would help the government in framing policies. Speaking at the 30th annual market research seminar of Market Research Society of India (MRSI), Goyal asked the survey- and market-research industry to follow self-regulatory mechanisms. Goyal said he believes the industry which “remains unsung and unrecognised” has “tremendous capability and strength”.
India’s Tata Group is planning to open at least 20 “beauty tech” stores where it will use virtual makeup kiosks and digital skin tests to get young, affluent shoppers to buy premium cosmetic products, according to a company document and a person familiar with its strategy, Reuters reported. The move pits Tata, whose interests range from cars to jewellery, against LVMH’s Sephora and domestic rival Nykaa for a share of the fast-growing $16 billion beauty and personal care market in the world’s second-most populous country. Tata is eyeing what it calls a “beauty enthusiast” in India aged between 18 and 45 years who like to buy foreign brands such as Estee Lauder’s M.A.C and Bobbi Brown, according to the document, which lists The Honest Company, Ellis Brooklyn and Gallinee as potential partners.
