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...