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Page 3 - Retail Sector

Festive season sees record retail trade of Rs 3.75 trillion: CAIT

Retail markets across India registered a record trade of Rs 3.75 lakh crore during this festive season so far, traders' body CAIT said on Monday. The Confederation of All India Traders (CAIT) stated that festivals like Goverdhan Pooja, Bhaiya Dooj, Chhath Pooja and Tulsi Vivah are yet to be solemnised, which may attract additional trade worth Rs 50,000 crore. "Notably, almost only Indian products were sold and purchased this Diwali, which is remarkable," it stated. CAIT Secretary General Praveen Khandelwal said Chinese goods lost a trade of worth more than Rs 1 lakh crore during the Diwali festive season. "In previous years, Chinese products were occupying nearly 70 per cent market of Diwali festivals. However, this year, appeal of Prime Minister Narendra Modi to make this Diwali vocal for local has gone down well and widely accepted and implemented by both traders and consumers," he said.

Updated On : 13 Nov 2023 | 4:29 PM IST

Irdai excludes retail sector of general insurance from arbitration clause

Following the amendment, the clause will only apply to commercial lines of business

Updated On : 27 Oct 2023 | 9:26 PM IST

Pakistan: World Bank suggests taxes on agri, real estate to infuse Rs 3 trn

The World Bank has suggested closing all tax exemptions and bringing agriculture, retail, and real estate under a tax bracket that can fetch three per cent of GDP in the cash-strapped Pakistan's kitty, media reports said on Tuesday. The people in two major areas in the provincial jurisdiction real estate and agriculture had most of the untaxed wealth, which should be taxed by the provincial governments to be able to improve services and reduce the financial burden on the centre, which was financing these services, newspaper Dawn quoted WB's Country Director Najy Benhassine and senior economist Tobias Haque as saying. The lender has projected that if agriculture income and properties tax is enforced properly then it could fetch three per cent of GDP in the tax collection on an annual basis, equivalent to slightly over Rs 3 trillion, the Dawn newspaper quoted Haque as saying. He said real estate and agriculture should yield revenue of two per cent and one per cent, respectively, of

Updated On : 10 Oct 2023 | 3:05 PM IST

India's retail grows due to realty supply, consumer resurgence: JLL report

According to JLL India's report, India continues to be a preferred market for international brands

Updated On : 11 Sep 2023 | 1:14 PM IST

Hiring activities rise in Apr-Aug period in sectors like retail, telecom

Hiring activities increased 23 per cent in the April-August period compared to the year-ago period in various sectors, including retail and telecom, a report said on Tuesday. In its staffing report, business services provider Quess Corp said that as many as 32,000 jobs were posted in the April-August period, considering that various sectors, including BFSI, retail and telecom, improved their hiring efforts in line with the surge in demand for the festive season in the country. Job roles such as production trainee, branch relationship executive, collection officer, business development executive, broadband sales executive, sales executive, warehouse associate, and customer relationship officer have seen an increase in demand this season. "As India Inc. prepares for the festive season, it is encouraging to see a positive trajectory (23 per cent) of demand for hiring today. Despite inflation and profitability pressures, segments such as manufacturing, BFSI and retail have reflected ..