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Online spending, which has got a boost during the pandemic, is expected to grow at an annual rate of over 35 per cent to $200 billion in the next five years, and a lot of this growth will come from direct-to-consumer brands, according to a report.
The domestic direct-to-consumer (D2C) market is estimated to be $100 billon by 2025, or 11 per cent of the total retail market that is slated to touch $1.7 trillion by then, investment bank Avendus Capital said in the report.
Overall retail market stood at $977 billion in 2019, it said.
The domestic retail market, which is the fifth largest globally, is projected to surpass $1.7 trillion by 2025, driven by e-tailing. Of the total retail market, only 17 per cent was in the modern trade in 2019, which is slated to touch 31 per cent by 2025.
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Eyeing the Rs 50,000 crore footwear market in India, Khadi Village Industries Corporation (KVIC) on Wednesday launched a range of footwear made of khadi fabric and said that it targets a Rs 1,000-crore market share in the first year.
The footwear range for both men and women was launched by MSME Minister Nitin Gadkari, Minister of State for MSME Pratap Chandra Sarangi, and KVIC Chairman Vinai Saxena.
Speaking at the launch, Gadkari said: "Global footwear industry is valued at Rs 1.45 trillion. KVIC will generate immense demand for khadi footwear with its range of products."
"Khadi footwear is a unique product. International quality and use of fine fabric like Patola silk, Banarasi silk, cotton, and denim will attract youngsters who can purchase it online. These footwear are cost-effective," Gadkari said.
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Prime Minister Narendra Modi on Wednesday spoke to South Korean president Moon Jae-in, as the two leaders reviewed important global developments, including the progress in combating the Covid-19 pandemic.
The two leaders also reviewed the ongoing diversification of international value chains, the need to preserve a transparent, development-oriented and rules-based global trading order, and the important role of the World Trade Organisation, a Prime Minister's Office (PMO) statement said.
In a tweet, the prime minister said, "Spoke to my friend, President @moonriver365 today on a variety of issues, including the immense promise that the India-ROK Special Strategic Partnership offers in the post-Covid world."
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Some big puja organisers in the city, including College Square Durga Puja committee, said they are planning to install giant screens as the High Court's modified order Wednesday left no chance for revellers to watch the deity at their marquee even from 10 metre distance.
However, others have already made arrangements accordingly and welcomed the decision to allow 60 members from the organising committee inside the pandal and said they will tinker arrangements for pushpanjali and sandhi puja adhering to the directives of the court.
Bikash Majumder an office-bearer of College Square committee told PTI "we have locked the entire College Square ground as directed by Kolkata Police and switched off all illumination on water since Choturthi, Tuesday. Only 60 members of puja committee will be allowed inside, 45 at a time. We are sad but there is no other way out."
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The Congress on Wednesday released its manifesto for the Bihar assembly polls, promising 1 million government jobs, farm loan waiver and a monthly unemployment allowance of Rs 1,500 if voted to power.
It also assured the farmers of 50 per cent rebate in electricity bills and repeal of the three farm laws brought by the Centre.
Actor-turned-politician Raj Babbar released the manifesto titled 'Badlav Patra 2020' (The Document of Change) here at the partys state headquarters Sadaqat Ashram in the presence of national general secretaries Randeep Singh Surjewala and Tariq Anwar and AICC Bihar incharge Shakti Singh Gohil.
The Congress is contesting 70 out of the 243 assembly seats in alliance with the RJD, and three Left parties.
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The Election Commission on Wednesday took a "serious view" of utter violation of social distancing norms during poll campaigning and leaders addressing public meetings without wearing masks in complete disregard of its guidelines.
In an advisory issued to presidents and general secretaries of all recognised national and state parties, the poll panel said chief electoral officers and the district machinery would be expected to invoke appropriate and relevant penal provisions against candidates concerned as well as organisers responsible for such violations.
"The Commission has taken a serious view of the laxity on the part of political parties and candidates, on the ground, in terms of maintaining crowd discipline, and hereby reiterates and further advises them to demonstrate utmost vigil and care during electioneering," the advisory said.
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Topics :Today Newstop news of the dayBihar Elections
First Published: Oct 21 2020 | 6:59 AM IST