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Indian Consumers
India's consumer durables market is expected to touch a size of Rs 5 lakh crore by FY30 and will become the fourth largest in the world by 2027, industry body CII said on Monday. While the country's products are inching towards global reliability, it is imperative to build a robust quality ecosystem and adopt standardisation in the sector and also export Indian standards globally, said B Thiagarajan, Chairman, CII National Committee on Consumer Electronics and Durables. Speaking at the CII Consumer Electronics & Durables Summit 2024, Thiagarajan, who is also the Chairman and Managing Director, Blue Star Ltd, further said the next decade is expected to create multiple opportunities across the value chain in the sector. "From finished goods as well as development of an indigenous component ecosystem, with the right focus on domestic scale, India's prospects of becoming a global manufacturing powerhouse holds great promise," he asserted. Thiagarajan said, "India is already the ...
To provide relief from soaring tomato prices, the National Cooperative Consumers' Federation of India (NCCF) will begin selling the commodity at a subsidised rate of Rs 60 per kg in the Delhi-NCR region from Monday. The move comes as tomato prices have surged due to supply disruptions caused by recent rains in producing centres. While the Consumer Affairs Ministry data showed retail tomato prices at Rs 77 per kg in Delhi on July 27, prices have been exceeding Rs 80 per kg in some areas, depending on quality and locality. "The mega sale will commence on July 29, 2024, and will gradually expand to other locations in Delhi-NCR in the coming days," NCCF said in a statement. The subsidised tomatoes will be available at various locations including Krishi Bhawan, CGO Complex, Lodhi Colony, Hauz Khas, Parliament Street, INA Market, and several areas in Noida, Rohini, and Gurugram, it said. This initiative aims to stabilise the market and provide substantial cost relief to consumers. NCCF
The government on Tuesday pointed out that retail prices of tur, urad and chana dals have not declined in proportion to about a 4 per cent fall in major wholesale markets in the past one month and asked retailers to charge reasonable profit margins for providing relief to consumers. The government warned that it would take stern actions against unscrupulous speculation and profiteering by market players. On Tuesday, the Department of Consumer Affairs organised a meeting with the Retailers Association of India (RAI) here to discuss the price scenario in respect of pulses. The meeting, chaired by Nidhi Khare, Secretary, the Department of Consumer Affairs, also reviewed compliance with the stock limits for tur and chana. The meeting was attended by representatives of RAI, Reliance Retail, D-Mart, Tata Stores, Spencer's, RSPG, and V-Mart, among others. RAI has more than 2,300 members, having over 6,00,000 retail outlets in the country. According to an official statement, the secretary
Rural and semi-urban markets are growing 1.5 times faster than the urban market for Pidilite Industries, helping it register a double-digit volume growth and it sees positive demand environment in the last quarter also, says its Managing Director Bharat Puri. The company achieved a double-digit volume growth in the first three-quarters of FY24 and Puri expects to continue the momentum with a broad-based growth across categories. "We see a good demand environment, government spending on infrastructure, the housing sector and real estate is seeing an upsurge. So, overall we remain optimistic about the overall prospects of our sector," said Puri in a virtual media roundtable. Pidilite, which passed on the benefits of lower-cost prices to consumers, does not see any disruption in the supply chain from the geopolitical crisis, which is brewing in the Middle East. "Fortunately for us, most of our raw material comes from the East rather than from via the Red Sea. Right now, raw material