Page 426 - Industry News
India's wearable devices market dips by 10% to 29.5 mn units in Q1: IDC
According to the report, Oppo along with OnePlus had the biggest fall in shipment of 35.8 per cent year on year (YoY). It was followed by Fire-Boltt whose wearable shipment declined by 24.3 per cent
 "India's wearable devices market dips by 10% to 29.5 mn units in Q1: IDC")
No back-door entry for defaulting promoters: FM Nirmala Sitharaman
Statement comes in response to concerns over haircuts in insolvency cases
 "No back-door entry for defaulting promoters: FM Nirmala Sitharaman")
Education made up 33% of firms' CSR spend in FY23, shows govt data
Reliance topped social spending from FY19 to FY22
 "Education made up 33% of firms' CSR spend in FY23, shows govt data")
Clinical trial waiver only if drugs have greater benefits, says govt
A senior official in the health ministry said that the rule will help to make available essential drugs that have a significant therapeutic advance over the current standard care
 "Clinical trial waiver only if drugs have greater benefits, says govt")
Fintech solutions can positively impact income, savings: CEA Nageswaran
Says fintech industry should be aware of the challenges that fintechs may pose to society
 "Fintech solutions can positively impact income, savings: CEA Nageswaran")
War on spam: Trai directs telcos to curb misuse of bulk connections
Internet URLs or APK files which are not whitelisted can't be delivered by texts, TRAI directs
 "War on spam: Trai directs telcos to curb misuse of bulk connections")
IT sector hiring to see growth of 8.5% next year, says Indeed report
Companies are actively hiring for roles such as application developer, software engineer, full-stack developer, and senior software engineer, said the report
 "IT sector hiring to see growth of 8.5% next year, says Indeed report")
Aesthetic medicine mkt to triple by 2029, driven by non-surgical procedures
India's current aesthetic medicine market stands at approximately $1.62 billion and is expected to grow at a compound annual growth rate (CAGR) of 13.2 per cent
 "Aesthetic medicine mkt to triple by 2029, driven by non-surgical procedures")
Logistics cost will be below 9% of GDP by April next year, says Gadkari
However, according to quick estimates of economic think tank National Council of Applied Economic Research (NCAER), the logistics cost in India ranged from 7.8 per cent to 8.9 per cent of GDP
 "Logistics cost will be below 9% of GDP by April next year, says Gadkari")
Critical minerals emerged as drivers of modern economy: Coal minister
Union Budget 2024-25 has proposed launching Critical Mineral Mission for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets
 "Critical minerals emerged as drivers of modern economy: Coal minister")
Bhartiya Vayuyan Vidheyak to address discrepancies in aviation law: Govt
Naidu explained that the 1934 Act had undergone 21 amendments, resulting in ambiguities and contradictions, particularly regarding the powers and functions of internal organisations
 "Bhartiya Vayuyan Vidheyak to address discrepancies in aviation law: Govt")
Trai completes mandatory examination of recent industry-wide tariff hikes
The telcos have submitted details of the hike within the stipulated seven days
 "Trai completes mandatory examination of recent industry-wide tariff hikes")
IT hiring likely to grow by 8.5% by next year as demand grows: Report
Hiring is set to surge, with an estimated 8.5 per cent increase in job roles within the industry by next year, according to a report by Indeed
 "IT hiring likely to grow by 8.5% by next year as demand grows: Report")
Aircraft MRO industry to reach $4 bn in seven years: Aviation min tells LS
He said the country's aviation industry had seen massive transformation and growth during the past 10 years
 "Aircraft MRO industry to reach $4 bn in seven years: Aviation min tells LS")
FMCG sector grows 4% in value, 3.8% by volume in April-June: Report
Industry growth steady and reflects resilience and adaptability, says consumer research firm NielsenIQ
 "FMCG sector grows 4% in value, 3.8% by volume in April-June: Report")
July 2024 sees drop in white collar job vacancies, back to 2023 figures
The number of active job openings in July reflected a 4 per cent decline from July 2023 and a 10 per cent drop from July 2021, particularly in roles requiring one or more years of experience
 "July 2024 sees drop in white collar job vacancies, back to 2023 figures")
India always cares for, looks after interests of Global South: Piyush Goyal
We do believe that we would like to be a friend to every country in world, more so member states of Bimstec, 7 nations who collectively make up almost 22 per cent of world population, Goyal added
 "India always cares for, looks after interests of Global South: Piyush Goyal")
Govt to allow 35% bio-bitumen mixing, saving Rs 10,000 cr in forex outflows
Gadkari said Indian Oil Corporation has a project in Panipat for making one lakh litres of ethanol per day from rice straw apart from 150 tonnes of bio-bitumen per day
 "Govt to allow 35% bio-bitumen mixing, saving Rs 10,000 cr in forex outflows")
Pan masala makers to pay fine from Oct if machines unregistered with taxmen
Move to overhaul registration, record-keeping, and monthly filing of such businesses was aimed at improving Goods and Service Tax (GST) compliance for manufacturers of pan masala and tobacco products
 "Pan masala makers to pay fine from Oct if machines unregistered with taxmen")
Microsoft regains top spot as best employer to work for in India: Randstad
The company was on the top of the list in 2022, but had slipped to fifth in 2023
 "Microsoft regains top spot as best employer to work for in India: Randstad")