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India may soon change the way it measures economic growth

The govt is considering moving to the chain base method of calculating the gross domestic product.

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Dec 12, 2019, 07.29 AM IST

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Air purifiers’ seasonal sales fox manufacturers

Manufacturers and retailers say the season begins after Diwali and peaks when pollution is in the headlines in newspapers and television. Once these fade, sales subside. The market is worth Rs 200-230 crore, growing at about 15-20% annually, with over 50 brands jostling for business, making this one of the most populated electronics categories in the country.

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  • One source familiar with the matter told Reuters earlier that the facility, expected to be located in the Lordstown area of Ohio, would see investment of more than $2 billion, with GM and LG Chem expected to invest more than $1 billion each.

    As per regulatory filings made by the company to Registrar of Companies (RoC) and accessed through business intelligence platform Veratech Intelligence, the Korean firm reported a drop in television sales by 8.6% to Rs 3,444.98 crore in 2018-19.

    The infusion came after the local subsidiary, Haier Appliances India, more than doubled its authorised share capital to Rs 4,000 crore from Rs 1,900 crore, as per the latest regulatory filings made with the Registrar of Companies (RoC).

    In retail, food and grocery chain Nature’s Basket chief executive officer Avani Davda has put in her papers, thereby moving out months after the business was acquired by Spencer’s Retail from the Godrej Group. Davda said the exit is due to personal reason.

    CEO Jo Seong-jin, dubbed a "washing machine genius", was appointed in December 2016, and is respected in South Korea for his unlikely journey to the top without a college degree in the education-driven country. But he has struggled to turn around the failing smartphone division, which last month announced its 18th consecutive quarter of losses.

    Industry executives said these companies such as Samsung, Xiaomi, Oppo, Vivo, Realme, Motorola and Haier now control the largest chunk of the Indian market in certain categories such as smartphones, televisions and home appliances.

    Murmu directed to conduct audit of all 220 KV and 132 KV transmission line towers and take corrective measures before the start of the next winter season to prevent damage to power structure, he said.

    Samsung is about to sign a deal with homegrown contract manufacturer Dixon Technologies to manufacture television sets up to 55 inches in screen size, sources said. These account for more than 85% of the Indian market. The company is evaluating options with other contract manufacturers to further expand local TV production in India, they added.

    Industry watchers attribute it to their weakening brand pull among younger customers and premium pricing vis a vis Chinese rivals such as Xiaomi and TCL, particularly at a time when Indian consumers are cutting down on consumer spending. The Korean duo of LG and Samsung have so far resisted the Chinese onslaught by dropping prices.

    Lieutenant Governor Girish Chander Murmu said that vandals' act to set ablaze a sufi shrine in Tral is designed to arouse passion among the people and hurt their sentiments but they will not be tolerated, an official spokesperson said.

    “Election will come. It is a Union territory with a legislature, it will not continue like this (LG's rule). The process for holding the election will come soon,” Murmu said, speaking at the attestation-cum-passing out parade of the 14th batch of constables, held in the Talwara area of Reasi district.

    The 3rd edition of the IMC got cold response from the device makers with 5G ready smartphones for India. Handset makers like Oppo, Vivo, Xiaomi and LG showcased a 5G device each, but these devices are only available in the US or China.

    Handset makers with 5G ready smartphones gave it a miss for IMC third edition as they believe India is still some time away from being 5G ready. Telecom secretary tried to play down the absence of device players saying there was a timing mismatch

    Charles Peng, Honor India President told ET that the company will price its products competitively for the Indian market, and will also launch a slew of smart devices like speakers.

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