Business This Week

 

Call for Regulator

Online vendors on top platforms like Flipkart, Amazon and Snapdeal are planning to send a petition to the government seeking a regulator for the e-commerce sector, a report said.

The petitioners, All India Online Vendors Association, a group of some 2,000 vendors, are alleging that some marketplaces are violating government rules and buyers and sellers need to be protected.

Jobs Blow

The outlook for India’s jobs market is pessimistic in the next quarter, a survey reveals.

According to a report, the ManPowerGroup Employment Outlook Survey Q3 2017 says that employment will continue its downward slide, with opportunities for job seekers expected to be considerably weaker in the July-September quarter compared with a year ago. Companies will most likely retain current staff or grow payrolls marginally as they await signals from the market.

New Phones Expected

Samsung is planning to reinforce its top position in India by introducing new phones and services into the market, says a report.

A top official said that the Korean phone maker will launch new models at frequent intervals in addition to new services on a regular basis. All segments of its mobile phone are growing evenly in the country, he added.

Car Prices Slashed

Top carmakers in the country are offering big discounts on many models to draw buyers and clear stocks before the Goods and Services Tax (GST) kicks in, according to a report.

Hyundai is offering price benefits from Rs25,000 to Rs 2,50,000 on some models and Datsun is providing additional benefits including free insurance and reduced interest rates. Maruti Suzuki has also extended its discount offers until June 30. Meanwhile, Bajaj Auto has reduced prices by Rs 4,500 on its motorcycles.

Ad Spends to Rise

Advertising expenditure is forecast to rise by at least 12 per cent this year and may touch Rs 611 billion, according to a study.

A report quoting the IPG Mediabrands India study says the television industry will retain its top position in the industry. Advertising revenue is likely to increase at a compounded annual growth of 12.6pc to reach Rs 992 billion by 2021, it adds.

Basic Models Popular

The smart wearables market has registered growth over consumers’ preference for basic models of fitness trackers and smart watches, says a report.

Research firm IDC said that 6.12 lakh units were sold in the first quarter of this year. Basic wearables accounted for nearly 90pc of wearable shipments in the quarter.

Global Brands Eye India

At least 50 mid-range global brands are planning to enter India in the next six months, new data reveals.

A report quoting data from Franchise India reveals that these brands are eyeing smaller, untapped markets in the country. Brands like Korres, Migato, Evisu, Wallstreet English, Pasta Mania etc and others from the US and Singapore are planning to open at least 3,000 stores with investment ranging from $300 to $500 million.

BMW Posts Growth

German luxury carmaker BMW Group India has posted a double digit growth last year, according to a report.

The company registered strong figures after two years of decline. The growth momentum was maintained this year until May, with the company recording an 8pc growth in that period. The company has also aiming to invest Rs 125 crore in India to expand its footprint and offer new generation models.

Babu Kalyanpur

Babu Kalyanpur, ( Consulting Editor) has rich experience in both sports and business journalism. Babu has led news desks in Pune and Bahrain and writes extensively on his passion, sports and business besides current affairs and matters of importance to Pune.

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