Fox&Angel

In the midst of global headwinds that have affected the growth of various economies worldwide, Ajay Piramal, the Chairman of the Piramal Group, recently shared his positive outlook on India's economic growth. During a conversation with Sourav Majumdar, the Editor of Business Today at BT Mindrush, Piramal stated that India has tailwinds instead of headwinds and that many large investors are interested in investing in India . Piramal attributes India's positive outlook to its management during the COVID-19 pandemic. He commended the Ministry of Finance, the government, and the Reserve Bank of India for their handling of the situation. Piramal pointed out that India did the opposite of what most economists at the IMF and World Bank recommended. Instead of giving handouts, the country focused on targeted loans for the MSME sector, small businesses, and larger industries. Piramal also noted that India looked after the economically backward population by providing free food grains an...

India, one of the fastest-growing economies in the world, is poised for a golden period of growth and development over the next 1-2 decades, according to Krishna Memani, Chief Investment Officer at Invesco. In an interview with The Economic Times, Memani shared his optimistic outlook for India's economic future, citing several key factors that contribute to this positive sentiment. Firstly, Memani highlighted India's demographic advantage as a key driver of its growth potential. With a large and young population, India is expected to witness a significant increase in its working-age population in the coming years. This demographic dividend presents a huge opportunity for India, as it has the potential to translate into a robust workforce and a large consumer base, driving economic growth and consumption. Memani also highlighted India's ongoing economic reforms and policy initiatives as a key catalyst for growth. The Indian government has been implementing various reforms ai...

The Indian economy has been facing a period of uncertainty lately, with several sectors experiencing a slowdown. However, independent market expert Ajay Bagga has predicted that the IT sector may present a good opportunity for bottom fishing in the coming months. In an interview with ET Now, Bagga pointed out that the recent earnings season for IT companies has been in line with expectations, but lower compared to previous years. He attributed the slowdown in new orders coming in, especially from the BFSI sector, as a reason for this decline. However, the sell-off in IT has been ongoing for nearly a year, making it an under-owned and unloved sector. Bagga believes that the weightage of IT in the Indian markets is at a very low level of about 12%, indicating significant correction and re-rating in the sector. He suggests that this could create a good opportunity for bottom fishing in IT stocks in the coming months. While the IT sector may present an opportunity for investors, Bagga als...

Go First, formerly known as GoAir, is a low-cost airline based in Mumbai, India. The airline is owned by the Wadia Group, one of India's oldest and largest conglomerates. In a recent announcement, the Wadia Group has revealed that it plans to invest 300 crore rupees (approximately $40 million) in Go First over the next few months. According to reports, the investment will be used to fund the airline's expansion plans, including the acquisition of new aircraft and the launch of new routes. Go First currently operates a fleet of 40 aircraft, including Airbus A320neo and A320ceo models, and serves over 30 domestic and international destinations. The Wadia Group's investment comes at a time when the aviation industry in India is slowly recovering from the impact of the COVID-19 pandemic. Like many airlines around the world, Go First was severely affected by the pandemic, with passenger traffic dropping significantly due to travel restrictions and reduced demand. However, with ...

India witnessed a record surge in new investments in the January-to-March quarter of 2022, with total fresh investments reaching ₹14.6 lakh crore ($196 billion), according to data from investment monitoring firm Projects Today. Private sector investments accounted for ₹10.5 lakh crore ($140 billion) of the total, marking an all-time high. The fourth-quarter surge in investments was driven by a significant uptick in manufacturing investments , which led to a total of ₹37 lakh crore ($496 billion) in new investment projects announced during the financial year 2022-23, a 92% increase compared to the previous year. The data also revealed a notable shift in the nature of investments, with private-sector manufacturing investments surpassing public-sector-driven infrastructure-focused capital expenditures as the dominant source of capital formation. This trend is seen as positive for the Indian government, which has been urging the private sector to invest more to boost economic growth amid a...

  The shift away from China as the primary manufacturing hub for Western companies began in 2013 when concerns over rising production costs and reliance on a single nation for sourcing and manufacturing operations started to arise. The COVID-19 pandemic further highlighted the risks of depending solely on China, leading companies to explore alternative options. India was initially propped up as a potential alternative to China, but long-standing issues such as inconsistent policies and red-tapism posed challenges for foreign companies looking to set up operations in the country. However, the Narendra Modi-led government has been making efforts to improve the ease of doing business in India, with a focus on attracting foreign investment. Apple, for instance, has been betting big on India since it began iPhone assembly in the country in 2017, in line with the Indian government's push for local manufacturing. Setting up shop in India has not been an easy route for foreign companies,...

Nike and Adidas, two of the world's most popular and iconic sports shoe brands, are making headlines with their ambitious plans to set up shop in India. According to a recent article published in The Economic Times, the companies have a combined investment plan of Rs 2,000 crore (approx. USD 280 million) to expand their presence in the Indian market. This move is not only significant for the Indian fashion and footwear industry but also highlights the growing importance of India as a key market for global fashion giants. Nike and Adidas are looking to tap into the massive consumer base in India, which is estimated to be one of the largest markets for sportswear in the world. With a population of over 1.3 billion, and a burgeoning middle class with increasing disposable income and changing lifestyle preferences, India presents a significant growth opportunity for these global shoe brands. Nike and Adidas’ plans to invest in India include setting up manufacturing facilities, expandin...

Odisha, one of the eastern states of India, has emerged as a hotspot for investments, attracting attention from global investors. The recent business meet held in Tokyo, Japan, has witnessed a significant influx of investment intent worth INR 26,000 crore into the state. This development has further strengthened Odisha's position as an attractive investment destination in India .

India is on the cusp of a revolution in the global mobile phone market, poised to become a leader in the industry. As stated by Ashwini Vaishnaw, the Minister of Electronics and Information Technology and Communications, India's mobile phone market is set to take the world by storm. In an article published in Economic Times, Vaishnaw highlights the key factors that are driving India's meteoric rise in the global mobile phone market and outlines the country's path to becoming a global leader in this industry. One of the key factors driving India's rise in the global mobile phone market is its massive population. With over 1.3 billion people, India has the second-largest population in the world, and a significant portion of this population is rapidly adopting mobile phones as a means of communication, entertainment, and commerce. The increasing penetration of smartphones in rural areas of India has been a game-changer, with more people gaining access to the internet and m...

  As a rapidly growing economy, India has been a favored destination for foreign direct investment (FDI) in recent years. Foreign investors are drawn to the country's vast consumer base, growing middle class, and favourable investment policies. In a recent report, global financial services giant Citi has provided insights into India's FDI flows, projecting a modest pickup in FY24. According to Citi's analysis, India's FDI inflows are expected to witness modest growth in the financial year 2023-24 (FY24). After facing challenges in FY22 due to the COVID-19 pandemic and its economic impact, the country is expected to rebound in the coming fiscal year. Citi predicts that FDI in India will receive a boost from various factors, including policy reforms, improving business sentiment, and favorable macroeconomic indicators. One of the key drivers of FDI in India is the government's push for policy reforms to attract foreign investment. The Indian government has undertake...

The Indian real estate market has been showing promising signs of recovery in the first quarter of 2023, with a significant increase in investment inflows and the office segment leading the rally. According to a recent report published in The Economic Times, investment inflows in the Indian realty sector have risen by 37% on a year-on-year (YoY) basis, indicating renewed investor confidence in the sector. The report highlights that the office segment has emerged as the frontrunner in the real estate market's resurgence, accounting for a substantial share of the investment inflows. The demand for office space has been steadily rising, driven by factors such as increasing foreign investment, growing domestic businesses, and the rise of the technology and e-commerce sectors. One of the key reasons behind the surge in investment in the office segment is the rising demand for flexible office spaces. With the changing work dynamics and the adoption of remote working policies due to the ...

The Indian consumer goods industry has been experiencing a steady growth trajectory over the past few years, with the sector contributing significantly to the country's economic development. White goods, a category of consumer goods that includes large appliances such as refrigerators, air conditioners, washing machines, and other home appliances, has been one of the most dynamic sectors within the industry. The white goods market in India is poised for rapid growth in the coming years, driven by increasing urbanization, a growing middle-class population, and rising disposable incomes. Market Overview: Refrigerators, washing and drying machines, dishwashers, LED lights, and air conditioners comprise the white goods industry. In FY21, the white goods industry in India was worth 13.66 billion dollars. Out of this, the biggest portion of the overall industry contained Climate control systems, Fridges, and Drove items. By 2025, the market for white goods is expected to reach $21 billio...

Magenta Mobility, an Indian electric vehicle (EV) fleet operator, has recently raised $22 million in a funding round led by BP and Morgan Stanley India Infrastructure. The funding will be used to scale up Magenta’s operations and expand its fleet of electric vehicles across the country. This latest investment is significant, as it marks the first time that a major oil and gas company has invested in an Indian EV start-up. BP’s investment is part of its efforts to transition towards a low-carbon future and to become a net-zero company by 2050. Morgan Stanley India Infrastructure is also committed to supporting sustainable infrastructure and renewable energy projects in India. Magenta Mobility was founded in 2017 by Maxson Lewis and offers a range of EV fleet services, including charging infrastructure, fleet management software, and EV leasing and rental services. Magenta has a strong focus on sustainable mobility and aims to accelerate the adoption of EVs in India. The company currentl...

Apple, one of the world's leading technology companies, has announced the opening of its first company-owned retail store in India. This marks a significant milestone for Apple, as it has previously relied on third-party retailers to sell its products in the country. The store, located in Mumbai's Bandra Kurla Complex, is set to open in the coming months and is expected to offer an immersive retail experience to Indian consumers. The move comes after several years of speculation and negotiations between Apple and the Indian government. The company had faced several hurdles in its attempts to open its own stores in the country, including strict local sourcing rules that required companies to source at least 30% of their components locally. Apple had initially sought an exemption from these rules but was unsuccessful. However, the company has since started manufacturing some of its products in India, allowing it to meet local sourcing requirements. The new Apple store in Mumbai i...

The Indian Premier League (IPL), a professional Twenty20 cricket league in India, has become one of the most popular sporting events in the world. With its razzmatazz, glamour, and big business, the IPL has been able to create a loyal fan following across the globe. After being postponed in 2020 due to the COVID-19 pandemic, the IPL is back in 2023 with a bang, with rivalries and more business opportunities than ever before. The IPL was first introduced in 2008 by the Board of Control for Cricket in India (BCCI). Since then, it has grown by leaps and bounds to become one of the biggest events in the cricketing world. In its first season, the league consisted of eight teams representing different cities in India, each owned by a franchise. Over the years, the league has expanded to include ten teams, with two new teams, Ahmedabad and Lucknow, joining in 2022. The IPL has been successful not just because of its cricketing excellence but also due to its unique business model. The league i...

The Indian startup ecosystem has been thriving in recent years, with numerous companies raising significant amounts of funding to fuel their growth. The month of March 2023 was no exception, with a total of $1.14 billion raised by Indian startups in late-stage funding rounds. In this article, we will take a closer look at two of the biggest funding rounds from March, which went to Lenskart and PhonePe. Lenskart, a leading eyewear retailer, raised $400 million in a funding round led by SoftBank Vision Fund 2. The company, which was founded in 2010, has grown rapidly in recent years and now operates more than 850 stores across India, as well as an online store that offers a wide range of eyewear products. Lenskart plans to use the new funding to further expand its offline retail presence and invest in technology to improve the customer experience. The funding round for Lenskart was significant not only because of the size of the investment but also because of the involvement of SoftBank ...