Category — Consumer Goods

Apple Sets New March Quarter Record for India

“We set a new March quarter record for India, where revenue grew by strong double digits,” Apple CEO Tim Cook said in his opening remarks as part of the earnings call. Chief Financial Officer Luca Maestri quantified the “strong double-digit” growth for India — over 20 percent.

Growth in India revenue is due to Apple’s aggressive marketing focus with discounts and cashback offers, especially on older iPhone models and products like the iPhone SE. More recently, the iPhone 7 and iPhone 7 Plus have been available at reduced prices as well, reports Gadgets 360.

iPhone

“We continued to strengthen our local presence across the entire ecosystem, and we’re very optimistic about our future in this remarkable country with its very large, young, and tech-savvy population, fast-growing economy, and improving 4G network infrastructure,” Cook added.

Starting online stores is among Apple’s plans for India, while phased manufacturing is something that Apple may be already discussing with the government.

 

May 6, 2017   No Comments

India’s Gem, Jewelry Exports Surge

India’s gems and jewelry exports increased by 9  percent for financial year 2016-17 due to demand from the United States, Hong Kong and the United Arab Emirates, the three destinations accounting for over 75 percent of India’s overall shipment of precious ornaments by value.

India’s  Gems & Jewelry Export Promotion Council, said that net exports for the financial year 2016-2017 were $36 billion, while for the previous financial year, the number was  $32.6 billion. Praveenshankar Pandya, chairman of the Gems and Jewelry Export Council estimated exports to increase by a further 10 percent for the current financial year 2017-18.

Diamond pendant

Meanwhile, cut and polished diamonds contributed  60 percent of India’s overall exports of precious metals and stones, reports the Business Standard.

 

May 6, 2017   No Comments

Forbes List Adds a Billionaire from India Each Month

The number of Indians on the Forbes billionaire list rose to 101 from 84 in 2016, and Fakhri Ahmadov, managing director at Ahmadoff & Company, a U.K. based wealth advisory firm, says,  “Eevery 33 days brought a new Indian billionaire to the list last year.”

Forbes says India had 36 billionaires in 2005;  55 billionaires in 2010; and by 2016 India added 46 billionaires or roughly eight new one-percents per year since 2011. Between 2005 and 2016, India’s economy rose 170% while the world economy gained around 30%.

The healthcare and pharmaceuticals sectors added 10 business founders to the FORBES billionaires list in the last seven years, more than any industry in India. Retail added another seven billionaires during that period, Ahmadov said in a report dated April 8.

Billionaire Status

The reasons for this phenomenon are:

  • Fast economic growth in consumer retail goods
  • Redistribution of wealth along billionaire family lines
  • Increased penetration of the banking system
  • Increase foreign direct investment both in the physical economy and corporate equity

 

May 2, 2017   No Comments

Herbal Supplements Market to Grow at 6.29% Annually

Pune, India-based Sandler Research forecasts that the global herbal supplements market will grow at a CAGR of 6.29% during the period 2016-2020. The report says that the drivers facilitating this growth are the growing awareness of the benefits of dietary supplements especially among women, and the increase of herbal supplements among adults.

Key players in this market are: Gaia Herbs, Herb Pharm, Nature’s Bounty, Nutraceutical, and Rainbow Light Nutritional Systems. Other well-known vendors are: Arizona Natural Products, Arkhopharma, Bio-Botanica, Blackmores, i-Health, Megafood, New Chapter, Pharma Nord APS, Pharmavite, Ricola USA, Solgar, and Sundown Nutrition.

Herbal Supplements

PR Newswire reports that the demand for herbal supplements is fueled by the increase in healthcare expenses globally due to the rising prices of drugs, medical devices, and hospital care. In 2015, Europe  dominated the global herbal supplements market with a market share of around 45%. The growing number of e-commerce and retail stores, coupled with a rise in the older population, is expected to boost growth in the herbal supplements market in Europe during the forecast period.

April 28, 2017   No Comments

Facing its Rivals’ Merger, Amazon India Recommits

In an interview with MoneyControl over Amazon’s India strategy to counter a possible merger between India’s largest e-commerce company Flipkart, and its rival Snapdeal, Amazon’s India chief Amit Agarwal said, “… no matter what happens, even after 20 years, customers will want great selection, great product and fast delivery. So I am going to keep my focus on that… our strategy 20 years later in India will be the same.”

Moneycontrol says that the Indian e-commerce sector is undergoing a phase of consolidation. Last year, Tiger Global-backed Flipkart acquired fashion e-tailer Jabong and is currently in talks to acquire Snapdeal. Earlier this month, it raised $1.4 billion from eBay Inc, Microsoft and Tencent. As part of the deal, eBay’s India business was merged with Flipkart’s.

Amazon Logo

Amazon has been able to grow its market share in India significantly since the time it started four years ago. In 2016, it pushed Snapdeal to the third position to become the second-largest e-commerce firm in India. Currently, its business is very close to Flipkart’s.

 

April 21, 2017   No Comments