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Despite geopolitical tensions in <keyword id="19897269" type="General" weightage="20" keywordseo="europe" source="keywords">Europe</keyword> and the <keyword id="19904316" type="General" weightage="20" keywordseo="middle-east" source="keywords">Middle East</keyword>, <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s <keyword id="20631272" type="General" weightage="20" keywordseo="merchandise-exports" source="keywords">merchandise exports</keyword> grew by 5.8% to $109.96 billion compared to $103.9 billion in the same period last year, according to a CRISIL report. The report states that the deceleration in the growth momentum of exports in June compared to May was largely due to an 18.2% contraction in oil exports. The growth momentum slowed down in June, with merchandise exports increasing by only 2.6% year-on-year, down from 9.1% in May. Non-oil exports continued to maintain steady growth, rising by 7.7% in June, almost in line with the 7.8% growth recorded in May. Services exports exhibited a strong performance in June, contributing positively to the overall trade scenario. The positive aspect is that merchandise imports grew at a slower pace of 5% year-on-year in June, down from 7.7% in May. However, core imports, excluding oil and gold, surged by 7.1%, increasing from the 0.8% growth in the previous month. This spike in core imports was partially driven by a low base effect from the previous year. Despite the positive growth in exports, the <keyword id="20201391" type="General" weightage="20" keywordseo="trade-deficit" source="keywords">trade deficit</keyword> widened to $21 billion in June from $19.2 billion in the same month last year. For the first quarter, cumulative imports rose by 7.7% to $172.4 billion from $160 billion, resulting in a trade deficit of $62.44 billion, up from $56.1 billion. This widening deficit was mainly due to a higher oil trade deficit, while the non-oil trade deficit narrowed. Services exports were a bright spot, increasing by 10.2% year-on-year to $29.76 billion in May. On the other hand, service import growth moderated to 5.4%, down from 19.1% in the previous month. Consequently, the services trade surplus expanded to $13.02 billion, up from $11.1 billion in May last year. Oil exports fell by 18.3% year-on-year and 18.5% month-on-month in June, despite stable international prices. This suggests a reduction in export volumes, with exports falling to $5.5 billion from $6.8 billion in June last year and the previous month. Oil imports increased by 19.6% in June compared to 28% in May, driven by domestic demand and local refineries operating above capacity. Sectors such as drugs and pharmaceuticals, engineering goods, organic and inorganic chemicals, and ready-made garments showed positive growth. However, pharmaceuticals (9.9% vs. 10.5%) and ready-made garments (3.7% vs. 9.8%) saw slower growth compared to May. Gems and jewellery exports continued to decline, marking the seventh consecutive month of negative growth at -1.4% year-on-year. Growth in carpets, handloom products, man-made products, plastics, and linoleum was positive but slower than the previous month. Handmade carpets (-16.6% vs. 20.6%), jute manufacturing (-11.1% vs. -5.2%), and leather products (-2.2% vs -2.1%) recorded contractions. Cashew exports have been declining since 2018, with only sporadic months of positive growth. In June, cashew exports fell by 7.3%, an improvement from the 25.8% decline in May. Coffee (70% vs. 64.2%), fruits and vegetables (7% vs. 20.8%), rice (1% vs. 2.8%), spices (9.8%vs. 20.3%), tea (3.2% vs. 19.6%), and tobacco (37.7% vs. 58.4%) saw slower growth compared to May. Marine products (-7.7% vs. -3.9%) and meat, dairy, and poultry products (-13.9% vs. 22.9%) also experienced a decline. Increases were noted in electronic goods (15.9% vs. 6.7%), fruits and vegetables (22.6% vs. 3%), non-ferrous metals (47.6% vs. 1.1%), project goods (31.4% vs. -44.3%), textiles and yarn fabric made-up articles (23.8% vs. -1.1%), and wood products (16.2% vs. -7.2%). The fiscal year has started positively with steady merchandise export growth in the first quarter. Encouragingly, multilateral organisations have forecasted better year-on-year trade growth. The Indian government's focus on foreign trade agreements (FTAs) is expected to further boost trade. However, the persistent growth in imports surpassing exports is a concern, widening the trade deficit. The recent US tariff hikes on Chinese imports could lead to potential dumping by China in the Asian market, including India, which requires close monitoring. Despite these challenges, the expected moderation in domestic growth may help contain import growth and the trade deficit. The service trade surplus and robust remittance flows are positive indicators that the current account will remain stable.

Indian exports show resilience amid global challenges in first quarter, says CRISIL report

New Delhi, Dec 17 () Ahead of crucial GST Council meet on Wednesday, industry body FICCI's arm made a case for maintaining GST rate on tobacco products at present level saying any increase would lead to rise in smuggling and will adversely impact domestic industry.
 Currently, GST rate on these products are 28 per cent while cess varies between 61 to 204 per cent.
 FICCI CASCADE (Committee Against Smuggling and Counterfeiting Activities Destroying the Economy) said various agencies seized illicit cigarette worth about Rs 18 crore so far this year.
 It said that there has been spurt in smuggling due to increase in tax in the past few years. The illegal cigarette trade has more than doubled from 12.5 billion sticks in 2005 to 26.5 billion sticks in 2018.
 "We must also remember that a higher tax rate provides greater incentive for evasion," said P C Jha, former Chairman, Central Board of Indirect Taxes and Customs and Advisor, FICCI CASCADE.
 "It is therefore necessary that legal products are made available at affordable prices, and it is in our best interest that we take a serious look and rationalise the tax structure on cigarettes, and do not allow anti-social elements to make deep inroads in our country," he said.
 Jha said the impact of smuggling on India's legal cigarette industry is massive. Citing a report, he said it continues to face an uphill task as penetration of illicit cigarettes in India has now reached a whopping 24.3 per cent.
 With GST collection under pressure, there is demand for raising rates on certain items and also cess to meet the shortfall.
 However, experts are of view that further increase in GST rates would fuel inflation, which is on the rise for past few months.
 Both Centre and States are expected to arrive at a decision which can boost revenue without hurting inflation.
 The Central GST collection fell short of the Budget Estimate by nearly 40 per cent during the April-November period of 2019-20, according to government data.
 The actual CGST collection during April-November stood at Rs 3,28,365 crore, while the Budget Estimate was Rs 5,26,000 crore for these months. DP DRR

FICCI CASCADE for status quo on GST rate on tobacco products to check smuggling

New Delhi, Feb 1 () Imposition of additional duty on cigarette by the government would increase pressure on the industry and will encourage its smuggling in India by illegal trade operators, the Tobacco Institute of India (TII) said on Saturday.
 While presenting the Union Budget for 2020-21, Finance Minister Nirmala Sitharaman proposed to increase the National Calamity Contingency Duty (NCCD) on cigarettes, hookah, chewing tobacco, snuff and tobacco extracts and essence.
 "The increase in NCCD announced in the Union Budget 2020-21 and the resulting escalation in cigarette taxation leading to higher tax arbitrage will serve as a huge incentive to illegal cigarette trade operators, who target India as a preferred destination for smuggled cigarettes," TII in a statement.
 It said "in the current economic environment the proposed increase announced in the Union Budget on NCCD will aggravate the pressure on the legal cigarette Industry, encourage illegal cigarette trade and adversely impact tobacco farmer earnings whose livelihood is intrinsically connected with legal cigarette value-chain".
 According to TII, NCCD was introduced in 2001 as a levy of a special surcharge on central taxes for a limited period. However, while almost all cesses and surcharges were discontinued in the GST regime, levy of NCCD on tobacco products continued.
 "TII had also requested the government for the abolition of NCCD on the ground that this levy is against the principles of GST which, inter alia, seeks to eliminate cascading of taxes," it said.
 TII claims to be a representative body of farmers, manufacturers, exporters of the cigarettes segment of the tobacco industry in India, whose members account for more than 98 per cent of the country's domestic sales.
 According to TII, illegal cigarettes have grown consistently in the country and now account for one fourth of the Indian cigarette market.
 Citing a report from the market research agency Euromonitor International, TII said that India is now the fourth largest illegal cigarette market in the world.
 The illicit cigarettes has increased from a level of 11.1 billion sticks in 2004 to 25.6 billion sticks in 2018, resulting in an annual revenue loss of Rs 13,000 crore to the government. KRH DRR

Increase in cess on cigarette to escalate its smuggling: Tobacco Institute of India

New Delhi, Feb 1 () Cigarette stocks on Saturday plunged up to 7 per cent, led by ITC, as tobacco related products are set to become more expensive due to hike in excise duty proposed in the Union Budget for 2020-21.
ITC tanked 6.97 per cent to close at Rs 218.85 on the BSE. During the trade, it plummeted 8.31 per cent to Rs 215.70 -- its 52-week low. It was the worst performer in the Sensex pack.
Shares of Godfrey Phillips India dropped 6.82 per cent, VST Industries 5.40 per cent and Golden Tobacco 0.18 per cent.
 A large number of items including cigarettes, chewing tobacco are set to become more expensive due to hike in taxes proposed in the Union Budget for 2020-21.
 "As a revenue measure, I propose to raise excise duty, by way of National Calamity Contingent Duty on cigarettes and other tobacco products. However, no change is being made in the duty rates of bidis," Finance Minister Nirmala Sitharaman said. 
 
 

 
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Cigarette stocks slump up to 7 pc after Budget hikes excise duty on tobacco products

<ul><li>May 31 is celebrated as the <keyword id="6569966" type="UNKNOWN" weightage="20" keywordseo="World-No-Tobacco-Day">World No Tobacco Day</keyword>. </li><li>The percentage of <keyword id="6361871" type="UNKNOWN" weightage="20" keywordseo="tobacco">tobacco</keyword> smokers in India has witnessed a sharp drop since 2000. </li><li>According to <keyword id="6366244" type="ORGANIZATION" weightage="20" keywordseo="who">WHO</keyword> most people do not know the cardiovascular risks involved with smoking tobacco. </li></ul>On World No Tobacco Day, May 31st, the <keyword id="6356311" type="ORGANIZATION" weightage="20" keywordseo="World-Health-Organisation">World Health Organisation</keyword> (WHO) released a <a href="http://www.who.int/tobacco/publications/surveillance/trends-tobacco-smoking-second-edition/en/">report </a>on global trends in tobacco usage. According to the report, the percentage of smokers in India dropped from 19.4% in 2000 to 11.5% in 2005. The same report projects that the percentage of tobacco smokers in India will further drop to 9.8% by 2020 and 8.5% by 2025. Globally, the percentage of smokers in the age group of 15 or more has dropped to 20.2% from 26.9% in 2000. The decrease in the percentage of tobacco smokers in India and other low and middle countries was due to the implementation of tobacco control policies like <a href="https://en.wikipedia.org/wiki/Cigarettes_and_Other_Tobacco_Products_Act">“Cigarettes and Other Tobacco Products Act of India”</a>. These policies basically prohibit the advertisement of tobacco products and regulate the supply and distribution of cigarettes and other tobacco products. Although the percentage of tobacco smokers in India is going down, it’s too early to rejoice as the country still has one of the largest tobacco smoking and chewing populations in the world. The report also revealed that most of the world’s tobacco consumers did not know about the cardiovascular risks of smoking tobacco. Therefore this World Tobacco day, the WHO is drawing the world's attention to the <a href="http://www.who.int/news-room/detail/31-05-2018-world-no-tobacco-day-tobacco-and-heart-disease">cardiovascular risks of tobacco</a>. According to a report in <a href="http://www.thehindu.com/sci-tech/health/sharp-drop-in-smoking-tobacco-in-india-says-who-report/article24049507.ece">The Hindu</a>, the WHO’s Director-General said, “Most people know that using tobacco causes cancer and lung disease, but many people are not aware that it also causes heart disease and stroke — the world’s leading killers.”

India witnessed a drastic decline in tobacco smoking over the past decade: WHO

<ul><li>Tech brands have fared badly in 2023 due to global headwinds, recession threats and more.</li><li>Banking and financial services companies including fintechs saw their value swell during the year.</li><li>PhonePe and Cred were the new entrants into Kantar’s list of Top 75 Indian brands.</li><li>Auto companies made a comeback from Covid-lows with TVS and Mahindra being among the fastest risers. </li></ul>It is not just the share prices of technology services companies that are falling, even their brand value has taken a beating. India’s top brands have borne the brunt of the global economic downturn in 2023. The combined value of Kantar BrandZ’s top-75 Indian brands shed 4% of their value to $379 billion in 2023. Yet, they have fared better than their global counterparts, as its global list has shed 20% of its value. Most of this loss in brand value was seen in Indian tech brands whose value shrunk by 14%. The brands have a major presence in international markets, and have been impacted by global pressures, recession threats and geopolitical instability, says Kantar. “If you exclude tech, the combined brand value is quite stable,” said Soumya Mohanty, managing director and chief client officer, South Asia, Insights Division of Kantar. TCS on the top, as usual The spot of India’s most valuable brand, however, is retained by tech giant TCS. It has shed 6% of its value but has fared better than tech as a sector. “TCS has a strong corporate reputation which makes it more likely to retain clients and business. It can also help enable customer retention which is also a factor that adds to brand value,” Deepender Rana, executive managing director of South Asia Insights Division at Kantar told Business Insider India. Infosys’ brand value dropped by 17%, while HCL Tech’s brand value rose by 3%. Both these brands made it to the top 10. Wipro’s brand value dropped by a sharp 42%. The rest of the list is dominated by banks, telecom companies with only one consumer company, Asian Paints in the top 10. Kantar BrandZ Top 10 Most Valuable Indian Brands 2023 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rank 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brand </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brand Value 2023 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$42.9 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$33.6 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$24.1 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Airtel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom Providers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$22.5 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$14.4 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.9 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paints </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.8 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jio </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom Providers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$11.7 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$10.3 bn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$9.3 bn </td></tr></tbody></table> Source: Kantar Autos zoom ahead Auto brands have been buzzing in 2023 and the sector has provided two of the fastest risers of the year. TVS, valued at $1.9 billion, occupies the 51st rank. The company has gained 59% in value and leapt 24 places thanks to a number of successful product launches and a 10-year partnership with BMW that gives it leverage in markets such as Europe, the US and Canada. Mahindra is valued at $2.01 billion and occupies the 47th rank. Mahindra, which grew its value by 48%, made itself incredibly meaningful in consumers’ eyes, and also significantly boosted its salience. The sector saw the second highest category growth of 19%, after tobacco. Royal Enfield’s value also swelled, thanks to Indians’ preference for premium products. A lot of Indian auto brands, like Tata Motors, also entered EV markets and are able to meet consumer needs better, observes Rana. “Auto companies’ value declined during Covid and made a comeback after they dealt with supply chain issues and dealt with bottlenecks,” said Mohanty. India’s largest auto company Maruti Suzuki, however, shed 5% of its brand value, while Bajaj Auto’s brand value went up by 9%. The value in finance Financial services brands have grown their brand value by 6% with 16 brands and contributing to the biggest chunk of the total brand value. Their growth is attributed to growth in digital banking and Axis Bank whose value swelled 28% and now ranks at 17. ICICI Bank which ranks at no 6 also has seen its brand value swell by 18%. Two of this year’s new entrants also belong to the fintech sector — PhonePe and Cred. This is in spite of the fact that tech as a sector saw its value go down during the year. PhonePe has made its debut on the list at No.21 with a value of $4.4 billion. It has quickly become India’s leading digital payment app by investing heavily in the strength of its infrastructure, building connections with partner banks, and developing a huge network of merchant acceptance points, said Kantar. Meanwhile, Cred has entered at no 48 with a brand value of $2 billion. “Growth of credit and other digital trends are adding to the value of fintechs. There is a need for these services and brands are doing a good job of providing them,” Mohanty tells Business Insider India. PayTM, Zomato, Swiggy, Flipkart, Naukri, Oyo and Nykaa have shed value; while Byju’s hasn’t been included in the list this year. FMCG as a sector has seen its brand value remain stable during the year.

TCS retains No 1 spot as India’s top brand but tech sector takes a hit

Hyderabad, Apr 17 () Domestic consumption and exportof tobacco may witness a dip of about 20 per cent during thecurrent year due to the ongoing lockdown to containcoronavirus spread in India as well as some countries inEurope and the US, sources close to the Tobacco Board said.Sources indicated that the Board may ask farmers to cutsowing in Karnataka this year following the plunge in demand.However, the Board was yet to take a call on that.A member of India Tobacco Association noted that thecountry exports about Rs 5,000 crore worth of tobacco aftervalue addition to USA, Europe and other countries."Like any other industry the tobacco industry also cameto standstill due to lockdown. Tobacco auction in AP whichbegan earlier was also suspended. It is expected to beginafter April 20.Due to delay in supplies and also health advisories onCOVID-19, there may be muted demand this year.Tobacco Board expects about 20 per cent dip in demandthis year," sources told .When contacted, Tobacco Board chairmanRaghunadha BabuYadlapati said Andhra Pradesh and Karnataka produced 124million kgs and 103 million kgs respectively last year."We will ensure that all the tobacco produced by farmerswill be cleared. We will request the industry to lift unsoldstocks if any from them.We will not let any farmer suffer even if there is a dropin demand," Babu said.Without providing absolute numbers, he said therestrictions on smoking and the extended lockdown may impactthe tobacco consumption.Of the total tobacco produced in the country, one thirdor about 65 per cent is exported.The Board chairman said this year they granted permissionto sow 140 million kgs and 99 million kgs in AP and Karnatakarespectively.The ITA member said the tobacco crop fetches about Rs3,500 crore at the farmers' level and after value additionabout Rs 5000 crore worth of the commodity is exported."The foreign buyers are yet to come to India andphysically inspect the product and place orders, thoughinitial discussions on requirement and quality parameters areover.They changed their travel plans as there is completelockdown in most of the countries," the ITA member said.According to the ITA, the auction for Andhra Pradesh'sstock is expected to resume from April 19 when the relaxationsannounced by the Centre will come into force for certainsectors.The ITA member said as far as Karnataka crop wasconcerned, except one million kgs, rest of the commodity wasauctioned.Every year a committee on production &amp; production controlof Tobacco Board lays down policy and fixes crop size fordifferent soil regions in AP and Karnataka taking intoconsideration various factors such as demand for flue curedvirginia tobacco (FCV) in India and abroad and themarketability of different varieties. GDKROH ROH

Indian tobacco consumption, exports may dip by 20% due to lockdown

This budget, the excise duty has been hiked by up to 6 % for cigarettes of all sizes. This wasn't expected at all. Still the shares of ITC Limited are going good because it's still below 10%. 
 
 
<a href="http://www.businessinsider.in/budget/common-man-budget">Cigarette </a>smoking is injurious to health. This statutory warning has taken a toll on the tobacco farmers in India. And this budget the tobacco farmers of the country wants the government not to impose any more taxes on legal cigarettes. 
 
<a href="http://www.businessinsider.in/budget/common-man-budget">ALSO READ: WHAT CAN A COMMON MAN EXPECT THIS BUDGET</a> 
 
While the market is decreasing every other day as far as consumption is concerned, the Indian tobacco exports are also sluggish and this has resulted in 22 % decline in returns to farmers. 
 There are 96,865 registered tobacco farmers and many more that are not registered in India. Around 0.25% of India's cultivated land is used for tobacco production. Since the independence, the Indian government has supported growth in the tobacco industry. India has seven tobacco research centres that are located in Jeelugumilli, Andhra Pradesh, Kandukuru, Andhra Pradesh, <keyword id="52887" type="CITY" weightage="20" keywordseo="Guntur">Guntur</keyword>, Andhra Pradesh, Kalavacherla, Andhra Pradesh, Hunsur, Karnataka., Vedasandur, <keyword id="20154" type="ORGANIZATION" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword>, Dinhata, <a href="http://www.businessinsider.in/budget/common-man-budget">West Bengal</a> and <a href="http://www.businessinsider.in/budget/common-man-budget">Rajamundry </a>houses the core research institute. The government has set up <keyword id="162734" type="ORGANIZATION" weightage="20" keywordseo="Tobacco-Board">Tobacco Board</keyword>, Guntur. <a href="http://www.businessinsider.in/budget/common-man-budget">ALSO READ: YOU CAN OWN A CAR LIKE THIS</a> 
 Guntur is also well known place for tobacco plantation. The <keyword id="672789" type="ORGANIZATION" weightage="20" keywordseo="Central-Tobacco-Research-Institute">Central Tobacco Research Institute</keyword> works under the aegis of Indian Council of Agricultural Research. Tobacco crop is cultivated in an area of 0.45 M ha (0.27% of the net cultivated area) producing ~ 750 M kg of tobacco leaf. India is the 2nd largest producer and exporter (in quantity terms) after China and <keyword id="6355226" type="COUNTRY" weightage="20" keywordseo="Brazil">Brazil</keyword>, respectively. 
 Ahead of the Budget 2017, the <keyword id="3404445" type="UNKNOWN" weightage="20" keywordseo="federation-of-all-india-farmer-associations">Federation of All India Farmer Associations</keyword> (<keyword id="3164346" type="UNKNOWN" weightage="20" keywordseo="FAIFA">FAIFA</keyword>) wants to bring stability in farm prices of the crop. 
 The non-profit organisation representing farmers across the states, including Andhra Pradesh, Telangana, Karnataka and <keyword id="6354766" type="COMPANY" weightage="20" keywordseo="Gujarat">Gujarat</keyword>, appealed to <a href="http://www.businessinsider.in/budget/common-man-budget">Finance Minister </a><keyword id="143010" type="PERSON" weightage="20" keywordseo="Arun-Jaitely">Arun Jaitely</keyword>, to avoid “the <a href="http://www.businessinsider.in/budget/common-man-budget">onslaught</a> of heavy taxation on legal cigarette industry” and help bring stability in farm prices of tobacco. 
 “We are very disturbed because of the declining off-take from domestic manufacturers … Regulatory overreach has created panic and strain on the FCV tobacco farmers in the country,” FAIFA General Secretary <keyword id="1407736" type="PERSON" weightage="20" keywordseo="Murali-Babu">Murali Babu</keyword> said in a statement. 
 
“Excessive increase in the excise duties on<a href="http://www.businessinsider.in/budget/common-man-budget"> tobacco products</a>, cumulative increase of 118 per cent since 2012/13, leading to 22 per cent” has led to shrinkage in the legal cigarette volumes, FAIFA said. 
 (Image: <keyword id="76338" type="CITY" weightage="20" keywordseo="Reuters">Reuters</keyword>))

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