Anti-dumping duty on Chinese tyres had cheered domestic tyre manufacturers, but similar duties on carbon black from China is hurting the industry after their increased demand is not being met by the domestic producers. The Chinese tyre imports has fallen by almost half after the government imposed anti-dumping duty in 2017. Since then, the domestic tyre companies have been witnessing an increased demand and their capacity utilisation also has gone up. The demand also got a boost with the implementation of GST.
Despite air pollution in metro cities rising to alarming levels, the growth of air purifiers in India has still not picked up well. The industry, however, finds that adoption of air purifiers in commercial and office spaces will drive the growth of residential purifiers.
The air purifier market in India is just about Rs 200-250 crore whereas a smaller country like South Korea has an air purifier market of $3.8 billion. Even from a low base, Indian air purifier market is growing only by 35 to 40 per cent.
The construction industry has started witnessing shift towards formalisation of labour force with top GST-compliant companies insisting on engaging with GST-registered contractors and vendors. To secure input tax credit, GST-compliant construction companies have to work with GST-registered contractors, sub-contractors and local vendors supplying labourers for their projects.
When it comes buying jewellery online, customers still hold their purse strings a bit and prefer to go for the affordable price points. No wonder, the largest chunk of diamond-studded jewellery sold online falls in the sub-Rs 10,000 category.
As salary hikes were muted in the recent past, mid to senior level executives want to make up for this perceived loss at the time of a job change. Expectation of higher salary hike has become a challenge for recruiters this year.
The cost of borrowing has fallen to multiyear lows, but gold loan companies have not been able to make use of the opportunity fully as the demand has not picked up well post-demonetisation.
Manappuram Finance saw the cost of borrowing coming down to 8.56 per cent in December quarter, the lowest in more than eight years.
In order to shorten delivery time, food delivery apps are increasingly moving towards deployment of their own fleet to fulfill orders. This has helped them grow 15 per cent quarter on quarter.
The Reserve Bank of India (RBI) has decided to introduce an ombudsman for non-banking finance companies (NBFCs) similar to one for the banking sector. The central bank thinks it will provide the customers a cost-free and speedy grievance redressal mechanism.
The scheme will cover all deposit taking NBFCs and also those NBFCs with customer interface having asset-size of Rs 100 crore and above. To begin with, the scheme will become operational by the end of this month for all deposit taking NBFCs, RBI said.
Though the government has announced Rs 5 lakh health cover for 10 crore families under the National Health Protection Scheme, it may not provide the full cover to all or may have several exclusions for the rate at which it has priced the cover, find experts.
World’s largest government funded health cover’ under the new National Health Protection Scheme was announced in the Budget to provide Rs 5 lakh cover to 10 crore underprivileged families or 50 crore beneficiaries. While the government has not yet made any specific allocation for the scheme, at the current commercial rate of premium, this could cost the government up to Rs 1.5 lakh crore. Experts are still unclear about how government will implement such a scheme without specifying allocation.