Reports

News and Trends

WhatsApp Launches Bharat Yatra to Empower Small Businesses in India

This initiative builds on WhatsApp's recent innovations tailored for SMBs, including the Meta Verified feature, which enhances credibility, and customized messaging tools for more efficient customer communication.

News and Trends

Cooperatives Sector to Create 55 Million Jobs and 10% GDP Contribution by 2030

Data from the Indian Cooperative Movement report published in 2018 highlights that direct employment generated by cooperatives grew from 1.2 million in 2007-08 to 5.8 million in 2016-17, marking a compound annual growth rate (CAGR) of 18.9 per cent.

News and Trends

India's 5G Rollout to Reach 970 Million Subscriptions by 2030: Ericsson Report

By the end of 2024, 5G subscriptions in India are projected to surpass 270 million, representing 23 per cent of total mobile subscriptions in the region.

News and Trends

Navigating the Energy Conundrum: A Strategic Imperative for MSMEs

This financial pressure restricts MSMEs from adopting advanced technologies or scaling their operations, ultimately affecting their market position and competitiveness. In response to this pressing challenge, MSMEs can explore several strategies to enhance energy efficiency and reduce costs.

News and Trends

99% of Businesses Track Sustainability, But Only 13% Use Data Strategically: Report

Only 34 per cent of Indian businesses leverage IT to reduce environmental impacts. While 76 per cent of organizations monitor energy use with AI, they can go further by using AI for scenario planning and climate risk mitigation.

News and Trends

India's PC Market Clocks Record Growth In 3Q24

India's PC market shipped an all-time high of 4.49 million units in 3Q24, according to IDC

News and Trends

Navigating the Road of Taxation: MSME Edition

While steps like GST and digital tax systems have eased some burdens, MSMEs still face significant challenges in navigating India's tax regime. Simplified processes, targeted tax relief, and technological empowerment are key to unlocking their potential.

News and Trends

India's Private Sector Sees Strongest Growth in Three Months: Report

Manufacturing also remained resilient, with the HSBC Flash India Manufacturing PMI at 57.3 in November, down slightly from 57.5 in October but still indicating substantial improvement.

Technology

How Cloud Technology will Transform the Banking Industry

The Indian cloud services market, valued at USD 8.3 billion in 2023 and projected to grow to USD 24.2 billion by 2028, is currently dominated by international providers. With this initiative, the RBI seeks to boost domestic players and enhance India's digital sovereignty.

News and Trends

Economic Activity in India Improved to an 8-Month High of 10.1% in October

October 2024 also registered a robust 9.9 per cent month-on-month (MoM) growth, surpassing the 6.5 per cent MoM increase observed in October 2023.

News and Trends

INR 16,000 Crore Is Required To Meet Public Charging Demand For EVs By 2030: Report

Innovation and research will be key in driving down costs and improving efficiency of electric vehicles.

News and Trends

Smartwatch Shipments Plunge 44.8% in India: IDC Report

Wristbands faced the sharpest drop among all categories, declining by a significant 48.4 p[er cent year-over-year (YoY). Shipments plummeted to just 56.1 thousand units, compared to 108.8 thousand units in Q3 2023. Smartwatches also struggled, experiencing a 44.8 per cent YoY decline in shipments, which fell to 9.3 million units.

Finance

MSMEs Expect to Benefit From FM's New Credit Guarantee Scheme

The INR 100 crore credit guarantee scheme is expected to serve as a vital catalyst for MSME growth and resilience by enabling businesses to secure financing without traditional barriers. Industry experts agree that this program has the potential to unlock new avenues of opportunity for MSMEs, encouraging entrepreneurship, fostering local manufacturing, and contributing to the nation's export ecosystem.

News and Trends

Auto Industry Rides Festival-Driven Demand in October with 0.9% Growth in Passenger Vehicles and 14.2% in Two-wheelers

The passenger vehicle market experienced its highest-ever sales for the month of October, reaching 3,93,238 units, up from 3,89,714 units in October 2023, a 0.9 per cent increase.

News and Trends

October Insights: India's Service Sector Grows 13% in Employment and 58% in Output

The HSBC India Services Business Activity Index rose from 57.7 in September to 58.5 in October, signaling a sharp acceleration in growth well above the long-term average of 54.1