Buoyed by a good start with Onam in the southern markets, the appliances and consumer electronics industry expects around 18-20 per cent value-driven growth this festive season which is coinciding with the ICC Men's Cricket World Cup.
The cricket World Cup tournament is coinciding with the festival season in India for the first time after 1987, and the industry expects the country's most popular sport to act as a catalyst, leading to growth in sales of TV, especially with bigger screen sizes as well as audio products such as battery-powered party speakers, soundbars, wireless headphones and ear buds.
TV makers, including LG Electronic, Panasonic and Thomson, expect increased number of replacements of conventional and small-size TV screens with large-size smart TV panels above 55 inch screen size. Premium and ultra-premium ranges of QLED and OLED TVs are also expected to be in much demand during the World Cup from October 5 to November 19.
The industry expects overall sales growth of

television, television sets

Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks.
Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
Mayank Mehra, smallcase, manager and principal partner at Craving Alpha,believes that strong economic growth prospects, attractive valuations, and government reforms could support foreign investment flows in the next month.
"Since valuations remain high even after the recent pullback and US bond yields are attractive (the US 10-year bond yield is around 4.49 per cent) FPIs are likely to press sales so long as this trend persists," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
According to the data with depositories, in the 15 trading days, so far in September, FPIs 

FPIs

The commerce ministry's investigation arm DGTR has "suo-motu" initiated probes against alleged dumping of three products, including unframed glass mirrors and fasteners, by Chinese companies as the authority seeks to guard MSME units against cheap imports from the neighbouring country.
Usually, anti-dumping investigations are initiated based on an application filed by domestic producers, but since the fragmented industries did not have the know-how of the procedures involved in the trade remedy probe, the Directorate General of Trade Remedies (DGTR) has undertaken the exercise to investigate the matter on its own initiative.
According to three separate notifications, the DGTR said that it is probing alleged dumping of telescopic channel drawer, unframed glass mirror and fasteners.
The move is aimed at granting much-needed protection to the MSME (micro, small and medium enterprises) producers against dumped goods from China.
"This is a giant leap forward from DGTR's first suo-motu .

Chinese goods

Esports makes its debut at the Asian Games as a medal sport after being played as a demonstration sport in the 2018 Jakarta-Palembang

Esports at Asian Games 2023: Who are India’s medal hopes at Hangzhou?

As many as 412 infrastructure projects, each entailing an investment of Rs 150 crore or more, have been hit by cost overruns of more than Rs 4.77 lakh crore in August this year, an official report said.
According to the Ministry of Statistics and Programme Implementation, which monitors infrastructure projects worth Rs 150 crore and above, out of 1,762 projects, 412 reported cost overruns and as many as 830 projects were delayed.
"The total original cost of implementation of the 1,762 projects was Rs 25,01,400.62 crore and their anticipated completion cost is likely to be Rs 29,78,681.31 crore, which reflects overall cost overruns of Rs 4,77,280.69 crore (19.08 per cent of original cost)," the ministry's latest report for August 2023 said.
According to the report, the expenditure incurred on these projects till August 2023, is Rs 15,57,188.10 crore, which is 52.28 per cent of the anticipated cost of the projects.
However, it stated that the number of delayed projects decreased to 6

Work on the Purvanchal Expressway in progress. Infra projects, which the previous regime proposed and started, are incomplete for lack of funds,  sloppy pace of work, or allegations of corruption.	Photo: UPEIDA

Tata Projects on Saturday announced its collaboration with Micron Technology to construct an advanced semiconductor assembly and test plant in Sanand, Gujarat.
The company in a statement said the contract awarded to Tata Projects solidifies the company's proficiency in large-scale, sustainable infrastructure development in the Indian manufacturing landscape.
According to the statement, situated in the Gujarat Industrial Development Corporation area of Chaarodi, Sanand, the project spans an expansive 93 acres of land.
"This enduring project is a significant milestone and the largest investment under the India Semiconductor Mission (ISM)," the statement said, adding that the construction of Phase 1 will include a 500,000 square feet cleanroom space, scheduled to be operational by late 2024.
The statement said the project encompasses the design and construction of a first-of-its-kind DRAM (dynamic random access memory) and NAND (non-volatile flash memory) assembly and test facility in

tata, tata group

The current data from student visa processing agencies suggest that around 3.4 lakh Punjabi students are currently studying in various educational institutions across Canada

student, studying, education, college, kota

LIC gears up to appeal against a hefty GST demand exceeding Rs 290 cr, encompassing penalties and interest

LIC, Life Insurance Corporation

When Chief Executive Officer Charlie Scharf took the reins at Wells Fargo in 2019, he quickly tagged the firm's wealth offerings as an area he'd seek to develop

Wells Fargo

India's leading automobile manufacturer Tata Motors on Saturday inaugurated its third registered vehicle scrapping facility (RVSF) in Surat with a capacity to recycle 15,000 vehicles per year.
Named Re.Wi.Re  Recycle with Respect,' the third RVSF in Surat -- set up after Jaipur and Bhubaneswar -- uses environmentally-friendly processes and has the capacity to disassemble 15,000 end-of-life vehicles safely and sustainably each year, it said in a statement.
The RVSF is developed and operated by Tata Motors' partner Shree Ambica Auto to scrap end-of-life passenger and commercial vehicles of all brands, it said.
"We are confident that these decentralised facilities will benefit our customers, foster economic growth, generate employment opportunities and fulfil the need of eco-friendly vehicle scrapping," Balaji said.
Re.Wi.Re. is purpose-built for dismantling end-of-life passenger and commercial vehicles across all brands, with a focus on employing environmentally friendly practices.


Tata Motors

Jean-Pierre Godbout, a spokesperson for Global Affairs Canada, confirmed that Canada would be bringing some of its staff out of the country

Justin Trudeau

Krishan Rattan

Acharya has been India's longest-serving chief economic advisor, advising three finance ministers over eight years. He has been a columnist for Business Standard for over twenty years

Shankar Acharya, economist

Meanwhile, on the Bill being brought in the Upper House, BJD MP Sasmit Patra said that Odisha Chief Minister Naveen Patnaik has always supported the Bill and based on his instructions

Parliament, New parliament building

This communication was sent by stock exchanges on behalf of the regulator - the Securities and Exchange Board of India (SEBI) - to companies earlier this week and has not been previously reported

sebi

Insurers' products are complex; investors must have a rational expectation about the returns they will get

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Appliances, consumer electronics sales likely to grow 20% during festivals

FPIs outflow in equities crosses Rs 10,000 cr mark in Sep on rising rates

DGTR probes dumping of 3 Chinese goods; to protect MSMEs from cheap imports

Esports at Asian Games 2023: Who are India's medal hopes at Hangzhou?

As many as 412 infra projects show cost overruns of Rs 4.77 trn in August

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Tata Projects to construct Micron's advanced semiconductor plant in Sanand

Punjab students invest Rs 68,000 cr annually in Canadian education: Report

LIC to challenge Rs 290 cr GST bill issued by Bihar tax authority

Banking giant Wells Fargo prepares for wealth battle after $1 bn turnaround

Tata Motors inaugurates registered vehicle scrapping facility in Surat