#Indian IT industry growth

[elleven-news]

Number of bn-$ GCCs doubles in 5 years - The Times of India

This is a representational AI image (Pic credit: Lexica) BENGALURU: The rise of India’s global capability centres (GCCs) was nothing short of meteoric. They continue to demonstrate a growing sphere of influence, not merely as execution engines but showcasing their ability to drive strategic initiatives. GCCs are expected to surpass IT services in hiring for the second year in a row, emerging as…

[insightfultake]

Boosting India's Economic Growth Through Shipbuilding: A Strategic Roadmap

India’s ambitious plan to develop a state-backed fleet marks a major shift in its shipbuilding policy. Currently, the country accounts for less than one percent of global ship production, lagging behind nations like China, Japan, and South Korea. This initiative aims to strengthen India’s maritime sector and reduce reliance on imports by ensuring demand for locally built ships. The reliance on foreign-made vessels has led to an annual capital outflow of nearly two billion dollars, a figure that could be significantly reduced by encouraging domestic manufacturing.

The Ministry of Ports, Shipping, and Waterways (MoPSW) has directed key ministries, including petroleum, steel, fertilizers, coal, and textiles, to develop plans for state-run shipping fleets. This move is expected to create stable demand for Indian-built ships, making the sector attractive for investment. Countries such as South Korea and Japan have successfully implemented similar models, leading to their dominance in the global shipbuilding market. India is now looking to replicate their success and establish itself as a key player in the industry.

[marketxcel]

India’s beauty sector: The steep contest of the brands

[mordorintelligencemarketresearch]

India’s Pharma Boom: Trends and Challenges Shaping the Market Landscape

Market Size and Growth

The India Pharmaceutical Market is projected to reach USD 62.93 billion in 2024 and is anticipated to grow to USD 83.90 billion by 2029, reflecting a compound annual growth rate (CAGR) of 5.92% during the forecast period from 2024 to 2029.

Market Overview

The Indian pharmaceutical industry is one of the largest in the world, known for its vast generic drug manufacturing capabilities and a robust pipeline of research and development. With a growing demand for affordable healthcare and increasing investment in biotechnology, the sector is poised for substantial growth. The government’s initiatives and favorable policies further bolster the industry's expansion.

Key Trends

Digital Transformation: The integration of digital technologies in manufacturing and supply chain management is streamlining operations and improving efficiency.

Rise of Biologics: There is a noticeable shift towards biologics and biosimilars, driven by advancements in biotechnology and increased patient demand for specialized treatments.

Regulatory Reforms: Recent regulatory changes aimed at expediting drug approvals are enhancing market accessibility and encouraging innovation.

Focus on Sustainability: The industry is increasingly adopting sustainable practices, including green chemistry and waste reduction, to align with global environmental standards.

Telemedicine Growth: The surge in telemedicine usage, especially post-COVID-19, is reshaping pharmaceutical distribution and patient engagement strategies.

Challenges

While the Indian pharmaceutical industry is on a growth trajectory, it faces several challenges, including:

Intellectual Property Concerns: Navigating patent laws and protecting innovations remain significant hurdles.

Quality Control Issues: Ensuring consistent quality across manufacturing facilities is critical, particularly as international scrutiny increases.

Market Competition: Intense competition from both domestic and international players can impact pricing and profitability.

Supply Chain Disruptions: Global supply chain challenges can affect the availability of raw materials and timely delivery of products.

Regulatory Compliance: Keeping up with evolving regulatory requirements can be complex and costly for manufacturers.

Conclusion

The Indian pharmaceutical market stands at a pivotal point of growth, driven by innovation, digital transformation, and increasing healthcare demands. While challenges persist, the opportunities for expansion and diversification are vast. Stakeholders must remain agile and proactive in addressing these challenges to fully capitalize on the promising outlook of this dynamic industry.

[angel0news]

Reliance Industries Set for Next Level of Growth: Mukesh Ambani

Reliance Industries Limited (RIL), India's most valuable company, is gearing up for a new phase of growth following a period of high capital expenditure. In the company's annual report for 2023-24 (FY24), Chairman and Managing Director Mukesh Ambani shared an optimistic outlook with investors, emphasizing that RIL's enhanced investor wealth and shareholders' faith will drive continuous growth and value creation.

A Solid Foundation for Expansion

Ambani highlighted that Reliance has consolidated its balance sheet and is now ready for the next level of growth. He attributed this readiness to the company's constant effort to find solutions for India and its people, which has led to the identification of multiple growth opportunities and the expansion of its business portfolio.

Diversification and Innovation

The conglomerate, traditionally focused on fossil fuels, is diversifying into clean energy, telecom, retail, and media. This strategic shift aims to capitalize on new opportunities and ensure long-term sustainability.

Resilience in Volatile Times

Despite global economic volatility, Reliance's strategic business depth, talented teams, and resilient domestic markets have enabled the company to navigate obstacles effectively. Ambani noted that the company's strong balance sheet reflects prudent business and financial management strategies, which help maximize cash profits.

India's Growing Significance

Ambani also underscored India's rising prominence in the global economic landscape, which he described as a beacon of stability and prosperity. The global optimism about India's economic and business outlook has driven domestic equity indices to record high levels. In February, RIL became the first Indian company to surpass the Rs 20-lakh crore market capitalization threshold.

Decarbonization and Green Energy

RIL is committed to a comprehensive roadmap for achieving net carbon zero and is investing in top talent to ensure the successful execution of its decarbonization plans. The development of the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar is progressing rapidly. This complex will be one of the largest end-to-end integrated renewable energy manufacturing facilities globally. Additionally, the group is exploring various technologies for carbon capture and recycling.

Leading by Example

For the fourth consecutive year, Ambani did not draw a salary in 2023-24, demonstrating his commitment to the company's growth and sustainability goals.

With a strong foundation and a forward-looking strategy, Reliance Industries is poised to achieve significant growth and continue creating value for its shareholders. The company's diversification and innovation efforts, coupled with its commitment to sustainability, position it well for future success.

[townpostin]

Jamshedpur: Budget 2024-25 Hailed as Catalyst for India's Economic Transformation in CII Jharkhand Session

Industry Leaders Laud Comprehensive Approach to Growth and Development A CII Jharkhand session provided insights into the far-reaching impact of the Union Budget 2024-25 and GST reforms. Business leaders praised the government’s balanced approach to fostering economic growth across various sectors. JAMSHEDPUR – Industry experts convened to analyze the implications of the latest Union Budget and…

[newspatron]

Technology Stocks Analysis: Spotlight on Indian Companies

What are your top questions about investing in tech stocks? Share your thoughts below!

Spotlight on Indian Technology Stocks: A Guide for Investors Investing in the Future: A Guide to Technology Stocks Analysis May 2024 The technology sector is dynamic, rapidly evolving, and plays a pivotal role in modern economies. As an investor, understanding the potential of technology stocks is crucial for making informed investment decisions. Analyzing Growth Potential and Investment…

[insightfultake]

The Rise of Budget Smartphones

In 2024, budget smartphones priced below ₹20,000 saw a staggering 35% increase in sales compared to the previous year. Even more impressive, 5G-enabled phones in this category doubled their sales year-on-year. This trend highlights a growing appetite for affordable yet feature-rich devices, especially in non-metro markets.

According to market researcher IDC India, smartphones priced under ₹20,000 now account for nearly 30% of all phones sold in the country. This segment has become a lifeline for the industry, which has faced sluggish growth in recent years. In 2024, overall smartphone sales grew by just 4%, but the budget category emerged as a clear winner.

[foxnangelseo]

Private sector manufacturing investments drive record new investments in India in 2022-23

India witnessed a record surge in new investments in the January-to-March quarter of 2022, with total fresh investments reaching ₹14.6 lakh crore ($196 billion), according to data from investment monitoring firm Projects Today. Private sector investments accounted for ₹10.5 lakh crore ($140 billion) of the total, marking an all-time high. The fourth-quarter surge in investments was driven by a significant uptick in manufacturing investments, which led to a total of ₹37 lakh crore ($496 billion) in new investment projects announced during the financial year 2022-23, a 92% increase compared to the previous year.

The data also revealed a notable shift in the nature of investments, with private-sector manufacturing investments surpassing public-sector-driven infrastructure-focused capital expenditures as the dominant source of capital formation. This trend is seen as positive for the Indian government, which has been urging the private sector to invest more to boost economic growth amid a slowing global economy. Manufacturing investments in the fourth quarter of 2022-23 were almost three times the average of the previous three quarters, totaling nearly ₹9.6 lakh crore ($128 billion), with the share of planned manufacturing outlays increasing from an average of 45% in the first three quarters to almost 66% in the fourth quarter. Overall, the share of private investments increased from an average of 65% in the first three quarters to 72% in the fourth quarter.

The manufacturing sector accounted for a significant share of total fresh investments, with its share increasing from 41.93% in 2021-22 to 53.66% in 2022-23. New project outlay in the manufacturing sector more than doubled from ₹8.08 lakh crore ($108 billion) in 2021-22 to over ₹19.85 lakh crore ($265 billion) in 2022-23, although the number of new manufacturing projects declined from 2,759 in 2021-22 to 1,912 in 2022-23.

In terms of government and private sector investments, Central and State government investment projects grew by 95% to ₹11.68 lakh crore ($156 billion) in 2022-23 from just under ₹6 lakh crore ($80 billion) in 2021-22. Private sector investments jumped by 90.7% to ₹25.32 lakh crore ($338 billion) in 2022-23 from ₹13.27 lakh crore ($177 billion) in the previous year. Foreign investments also grew at a faster rate, though on a smaller base, reaching ₹4.73 lakh crore ($63 billion) in 2022-23 compared to ₹2.17 lakh crore ($29 billion) in 2021-22.

Andhra Pradesh emerged as the top state for fresh investments in 2022-23, attracting 306 projects worth ₹7.65 lakh crore ($102 billion), including 57 mega projects with investments of ₹7.28 lakh crore ($97 billion). Gujarat, which topped the list of investment plans in 2021-22, slipped to a distant second in 2022-23 with 1,008 new projects worth ₹4.44 lakh crore ($59 billion). Maharashtra, which recorded the second-highest investment intent in 2021-22, slipped to fourth place in 2022-23 but secured the highest number of new projects across states at 1,639. Karnataka secured investment projects worth ₹4.33 lakh crore ($58 billion), surpassing Maharashtra in terms of investments. Other states that attracted significant investments in 2022-23 included Odisha, Uttar Pradesh, Rajasthan, Tamil Nadu, Telangana, and West Bengal.

Also Visit- Fox&Angel- Best Strategy Consulting Firm

This post was originally published on: Foxnangel

[signode-blog]

Reliance Industries: Pioneering Innovation, Driving Growth, Shaping the Future

Reliance Industries Limited (RIL) stands as a beacon of industrial might and innovation, not just within the confines of India but on the global stage. Founded by Dhirubhai Ambani in the 1960s, it has metamorphosed from a modest textile manufacturer into a behemoth straddling various sectors, including petrochemicals, refining, oil and gas exploration, retail, telecommunications, and digital…

[arjunvib]

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Explore Diverse Job Openings

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[hritika1]

Driving Economic Growth of India's Sports Manufacturing Industry

In the vibrant tapestry of India’s economic landscape, the sports manufacturing industry stands out as a dynamic and rapidly evolving sector. The industry has flourished, driven by a gifted Labor force consequently known for its role in creating employment and adding to the nation’s economy. 60 % of Indian sporting goods are exported and around 500,000 people are employed in the sports goods manufacturing sector in India. The synthesis of innovation, skill, and a passion for sports has propelled India into a prominent position in the global sports manufacturing market. In this blog, we will explore the Indian sports manufacturing industry, offering a detailed analysis, an overview of its current state, and a glimpse into the future outlook that promises sustained growth and economic prosperity.

The Indian sports manufacturing industry is a diverse and multifaceted sector that encompasses the production of a wide range of sports equipment, apparel, and accessories. From cricket bats to athletic shoes, India has emerged as a significant player in the global sports manufacturing market. The industry’s foundations are built on a rich history of sports culture in the country and a commitment to excellence in craftsmanship.

Sports Manufacturing Industry Analysis

Analyzing the sports manufacturing industry in India reveals a robust and resilient sector that has successfully navigated challenges while capitalizing on emerging opportunities. Several factors contribute to the industry’s strength:

1. Traditional Strengths: India’s expertise in manufacturing has historical roots, and this craftsmanship extends to sports equipment. Traditional sports like cricket and hockey have driven the demand for high-quality manufacturing processes.

2. Diversification of Product Range: The industry has diversified its product range to include a variety of sports and activities. From cricket and football to fitness and adventure sports, manufacturers in India cater to a broad spectrum of sporting needs.

3. Global Recognition: Indian sports equipment has gained international acclaim for its quality and durability. This recognition has resulted in increased exports and collaborations with global sports brands.

The sports manufacturing industry in India is witnessing steady growth, and its size continues to expand. As of the latest data, the market is valued at over $2 billion, and it is expected to continue its upward trajectory. The industry’s share is distributed across various segments, including cricket equipment, athletic wear, fitness accessories, and more.

One of the significant contributors to the industry’s growth is the increasing awareness of fitness and a surge in sports participation across different age groups. This has led to a surge in demand for sports equipment and apparel, further fueling the market’s expansion.

Sports Manufacturing Industry Growth

The Indian sports goods market is estimated to grow to $ 6.6 billion by 2027 from $ 3.9 bn. in 2020–21. The growth of the sports manufacturing industry in India is influenced by several key factors:

1. Rising Sports Culture: The burgeoning sports culture in India, coupled with government initiatives promoting fitness and sports, has created a favorable environment for the industry to thrive.

2. Infrastructure Development: The development of sports infrastructure, including stadiums, training facilities, and fitness centers, has created a demand for high-quality sports equipment, driving industry growth.

3. E-commerce Boom: The rise of e-commerce platforms has significantly expanded the reach of sports manufacturers. Online retail has made sports equipment and apparel more accessible to consumers across the country.

4. Innovation and Technology: Continuous innovation in materials, design, and technology has allowed Indian sports manufacturers to produce cutting-edge products that meet international standards.

Sports Manufacturing Industry Future Outlook

The Indian sports goods market is estimated to grow to $ 6.6 billion by 2027 from $ 3.9 bn. in 2020–21. The key sports goods manufacturing clusters will play an important role in reaching growth targets. India consists of 7 major sporting goods manufacturing cities. The future outlook for India’s sports manufacturing industry is optimistic, with several factors contributing to sustained growth:

1. Global Competitiveness: Indian sports manufacturers are poised to become even more competitive on the global stage. A focus on quality, innovation, and adherence to international standards will strengthen India’s position in the global sports manufacturing market.

2. Emerging Sports Trends: The industry is likely to witness growth in response to emerging sports trends. As new sports gain popularity, manufacturers will adapt to meet the demand for specialized equipment and apparel.

3. Investment in Research and Development: Increased investment in research and development will drive innovation in materials and manufacturing processes, leading to the creation of state-of-the-art sports products.

4. Government Support: Continued government support for sports and fitness initiatives will play a pivotal role in sustaining the industry’s growth. Incentives and policies supporting manufacturing and exports will further bolster the sector.

The Indian sports goods industry manufactures 318 items. However, major items that are exported are inflatable balls, hockey sticks and balls, cricket bats and balls, boxing equipment, fishing equipment, indoor games like carrom and chess boards and different kinds of protective equipment.

There are some major market players of sports manufacturing industry are:

1. Inter sport: INTERSPORT has the worldwide leading position in the sporting goods retail market with over 5,500 stores across 43 countries. The revenue of this company is €13.7 billion (2022).

2. Nike: The world’s largest athletic apparel company, Nike is best known for its footwear, apparel, and equipment. The revenue of this company is US$51.22 billion (2023).

3. Adidas: It is a multinational company which designs and manufactures premium quality sports shoes, sports apparel and other sports equipment and accessories. The company also produces other products like bags, watches and eye gear. The revenue of this company is €21.915 billion (2018).

4. Super Retail Group Limited: It is a retailer of automotive parts, tools, equipment and accessories; boating, camping, fishing and outdoor apparel and equipment; and sporting equipment and apparel.The revenue of this company is AU$2.71 billion (2018–19)

Conclusion

India’s sports manufacturing industry is not merely about producing equipment; it is a testament to the nation’s passion for sports and its ability to leverage traditional strengths in manufacturing. The industry’s journey from local craftsmanship to global recognition is a story of resilience, innovation, and dedication to quality.

As the industry continues to evolve, embracing new technologies and adapting to changing consumer preferences, it is poised to be a significant driver of economic growth. The future outlook is bright, with the potential for India to emerge as a global hub for sports manufacturing, contributing not only to the nation’s economy but also to the vitality of sports culture worldwide. The journey of India’s sports manufacturing industry is one of transformation, and the path ahead promises exciting opportunities and milestones.

[investmentspect]

Top 10 Types of Expanding Financial Services Sector in India

India's financial services sector has undergone significant transformation over the years, emerging as a key driver of the country's economic growth. In this blog, we will explore the dynamic landscape of the financial services sector in India, with a special focus on Spectrum Invest Company.

The financial services sector in India encompasses a wide range of activities, including banking, insurance, asset management, stock markets, tax and audit consulting, wealth management, and investments. It plays a crucial role in facilitating economic development by channeling funds from savers to borrowers and providing essential financial products and services to individuals and businesses. So, let’s explore in detail to learn more about the financial services sector in India that helps generate more revenue.

Banking

India's banking sector is one of the most prominent in the world. It includes a mix of public sector banks, private sector banks, foreign banks, and cooperative banks. The Reserve Bank of India (RBI) regulates and supervises these banks to ensure stability and financial inclusion. They provide banking services and credit facilities to their members. Additionally, they provide a secure place for individuals to store their money, earn interest, and access credit when needed.

Insurance

The insurance broking companies in India have witnessed remarkable growth, driven by rising awareness of the importance of insurance and the entry of private insurance companies. Life insurance and general insurance companies offer various policies to protect individuals and businesses against unforeseen risks. The insurance sector encompasses various types of insurance, including life, health, auto, property, and liability, each tailored to address specific risks and needs.

Asset Management

Asset management companies (AMCs) play a pivotal role in the financial ecosystem by offering mutual funds and other investment products. These products enable individuals to invest in a diversified portfolio of assets, making wealth creation more accessible.

Stock Markets

India boasts one of the world's most vibrant stock markets, with the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) as its primary stock exchanges. These markets provide a platform for companies to raise capital and for investors to trade securities.

Portfolio Management

This segment includes a specialized and customized range of solutions that enables clients to reach their financial goals through portfolio managers who analyze and optimize investments for clients across a wide range of assets such as debt, equity, insurance, real estate, etc. These services are broadly targeted at HNIs and are discretionary (investment only at the discretion of the fund manager with no client intervention) and non-discretionary (decisions made with client intervention).

Summing Up

The financial services in India are continually evolving, providing a multitude of opportunities for individuals and businesses to manage and grow their finances. However, Spectrum Invest Company, with its commitment to excellence and a customer-centric approach, has carved a niche for itself in this dynamic sector. As India's economy continues to thrive, all financial services companies in India meet other financial institutions that are poised to play a crucial role in shaping the financial future of the nation.