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The market of major domestic appliances saw an 18 per cent value-based growth in the first half of 2024, helped by a strong demand for essential household items, according to a report from GfK. The growth in MDA (major domestic appliances) market was led by Key categories such as air-conditioners and refrigerators, which reported a growth of 30 per cent and 7 per cent, respectively. "This growth is 3X of growth in 2023 over the previous year," said the report from GfK, which is now an NIQ Company, a leading global market and consumer intelligence firm. The small domestic appliances market recorded a 29 per cent increase in value, reflecting heightened consumer interest in home convenience products, according to the report. The report also added that customers are now looking for feature-rich and premium products, which is fuelling the value growth in the appliance segment. Now washing machines with capacities of 9kg or above have recorded an "impressive growth rate of 30 per cent"
The government has relaxed curbs for shifting of used IT hardware goods like laptops and desktops by a company in special economic zones (SEZs) to outside these duty free-enclaves or domestic tariff areas. SEZs are treated as deemed foreign territory for customs laws and bringing goods from these zones into the domestic tariff area (DTA) or domestic market is tantamount to imports. In general, a company from DTA needs a licence for imports of these goods from SEZs. Easing these curbs, Directorate General of Foreign Trade (DGFT) in a notification has said that used IT assets (laptops, desktops, monitors, printers) can be moved from SEZ by a company to DTA without a license for the purposes of further use in their DTA operations "only". However, these equipment should have been used in SEZ units for two years and should not be older than five years from the date of manufacturing. "Import policy of used IT assets (laptops, desktops, monitors, printers) from SEZ to DTA has been ...
Jaguar Land Rover is closely monitoring the demand for battery electric vehicles in India and depending upon the emerging scenario will "strategise" the entry of more models into the country, according to a top company executive. In an interaction with PTI, Jaguar Land Rover (JLR) India Managing Director Rajan Amba said the domestic market is distinct in its demands for a variety of factors. "And as such we are closely monitoring demand for battery electric vehicles (BEVs). As luxury consumers become more discerning in their choices and adoption of new technology, we are committed to delivering exceptional vehicles that exceed their expectations along these lines," he noted. The company currently sells just one electric model -- Jaguar I-Pace -- in the country. Globally, JLR will open bookings for the new Range Rover BEV by end of this year, built upon the success of existing modular longitudinal architecture (MLA), which currently underpins the ICE (internal combustion engine) Ran
The equity ownership of domestic investors, including institutions and high networth individuals, touched an all-time high of 24.44 per cent in December quarter, making it the fifth consecutive quarterly increase. Retail investors' ownership in the market stood at 7.23 per cent in December 2022, marginally down from 7.34 per cent in September 2022. But in rupee terms, the same increased to Rs 19.94 lakh crore from Rs 19.48 lakh crore in the previous quarter, registering an increase of 2.35 per cent. In September 2022, the share was 24.25 per cent, according to data collated by market information major Prime Database, based on the shareholding patterns of 1,832 of the total 1,857 companies on NSE for the quarter to December 2022. According to Pranav Haldea, managing director of Prime Database Group, this was the fifth consecutive quarter of increase from 22.37 per cent in September quarter 2021 and showcases the rising dominance of domestic investors. Net inflows from domestic ...