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- IMF forecasts India's GDP to grow at 7.5 per cent in 2019/20 fiscal year
- India is projected to clock an economic growth of 7.5 per cent in the 2019-2020 fiscal year on strengthening of investment and robust private consumption, the IMF said in its latest report.
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- Taking a cue from global markets, the key Indian equity market indices on Thursday opened higher.
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Bandh Live: Internet suspended in some parts of PuneGovernment has beefed up security across the state since protests held by Maratha groups last month had witnessed large-scale violence and arson in various parts of the state. Ikea boss says he's in India for long haul The worldâs largest furniture and home products company IKEA is unfazed by the changing policy landscape in India and was in the country for the long haul, global CEO Jesper Brodin told a select group of journalists here.Brodinâs take is significantly different from that of a few foreign retail executives who recently expressed wariness about the governmentâs latest draft policy that seeks to ring in sweeping changes to e-commerce business.âOur business is long term. Of course, politics follows its own cycles,â Brodin said in Hyderabad, where the largest Swedish retailer opens its first outlet in India on Thursday. âFor me and for us, there is logic in what India is doing for the development of India and we have to trust and believe that and it will continue to happen. So I would say we are not sleepless over that.âBrodin said India is a long-term investment and one of the biggest future markets for IKEA and the company is prepared for some eventualities. âIndia is a big commitment for us and as a group, we are prepared to take risks for years to come,â he told a select group of reporters in Hyderabad.The IKEA store in Hyderabadâs HITEC City is spread over 400,000 sq ft.âBy 2025, we need to bring a certain volume to our business in order to get an impact and profitability,â Brodin said at the store on the eve of its launch. âSo, one store is too little volume for us to become as good as we want to.â IKEA would require at least need 8-10 stores in India to leverage economies of scale for the company in India.IKEA said it has been aggressive in pricing by offering 1,000 of the total 7,500 SKUs priced under Rs 200 and 500 of them below Rs 100 and the company seeks to build a long-term market rather than chasing short-term profitability. âWe have taken a very offensive strategy, meaning we step in bravely into low prices,â the global head for the Swedish retailer said.âComing years, we will exponentially increase our efforts into digital interface with the customers,â the CEO said. About 5% of IKEAâs 38 billion euros global revenue in 2017 came through online sales.IKEA looks to upwardly revise investmentsIKEA, which had agreed in 2013 to invest Rs 10,500 crore to open 25 stores in India, is now looking to speed up rollout of stores and upwardly revise its investments here, IKEA India deputy chief executive Patrik Antoni said.âWe see India more positive today than we thought when we arrived. We arrived with a positive outlook. But we see a very strong demographic growth and the economy is strong,â Antoni told ETon the sidelines of a media conference on Wednesday.âWe see bigger opportunities now,â said Antoni, adding that the changed economic environment and exploding retail market should help IKEA India expedite the rollout of its India stores and amplify investments.â"CR Sukumar(Rasul Bailay was in Hyderabad at the invitation of IKEA.)65318038 India insulated from global shocks, not immune: Sajjid Chinoy India is not insulated from global shocks and a weak rupee is what we will have to live with. A calibrated rupee depreciation is what the economy - Rajya Sabha deputy chairman election: BJP claims it has numbers, Congress says fight still on
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- The 12 rescued boys returned to school this week after all but one of them spent nine days in a Buddhist monastery, a tradition for Thai males who experience adversity.
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- No fresh contact with militants in Gurez woods, operation continues
- The two-day nationwide protest by the All India IDBI Officersâ Association (AIIDBIOA), in protest against government nod for acquisition of IDBI by LIC, began on Thursday.
- Srinagar, Aug 9
- Though no fresh contact was established with the militants, a massive search operation continued in the dense woods near Line of Control (LoC) in Gurez sector of Bandipora district in north Kashmir, where four soldiers, including a Major, were martyred and two militants were killed in an encounter on Tuesday.
- Adivasi Dibas to be celebrated today
- Kolkata, Aug 09
- August 9 will be celebrated as âAdivasi Dibasâ in Bengal.
- Indiaâs indigenous, or tribal population is classified as Adivasis, and hence Adivasi Dibas.
- IDBI union begins nationwide protest against IDBI-LIC deal
- Rafale deal: Shourie, Sinha and Bhushan demand CAG audit
- New Delhi, Aug 8 (UNI) Launching a frontal attack on Narendra Modi-led NDA government over controversial Rafale fighter jet deal with France, former BJP ministers Yashwant Sinha and Arun Shourie along with senior Supreme Court advocate Prashant Bhushan on Wednesday demanded a forensic audit by CAG within a stipulated time period of three months.
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Thursday, August 9, 2018
Latest News Headlines Thu Aug 9 09:34:28 IST 2018
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