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<ul><li>India’s Media &amp; Entertainment industry has revived to pre-COVID levels and is expected to grow to $55-70Bn</li><li>by 2030 at 10-12% CAGR, driven mainly by strong growth in OTT, Gaming, Animation and VFX.</li><li>The industry continues to showcase multimodal growth with digital video leading the consumption boom.</li></ul><keyword id="9359173" type="General" weightage="20" keywordseo="the-confederation-of-indian-industry" source="Orion">The Confederation of Indian Industry</keyword> (CII) and <keyword id="136162" type="General" weightage="20" keywordseo="boston-consulting-group" source="Orion">Boston Consulting Group</keyword> (BCG) have unveiled the flagship report of the <keyword id="126927" type="General" weightage="100" keywordseo="media-and-entertainment" source="Orion">media and entertainment</keyword> sector titled, ‘Blockbuster Script for the New Decade: Way Forward for Indian Media and Entertainment Industry’. The report explores the Media and Entertainment industry’s recovery after the impact of the COVID-19 pandemic and highlights key imperatives for achieving its potential over the next decade. K Madhavan, Chairman, CII National Committee on Media &amp; Entertainment and President, The Walt Disney Company India and Star India says, "It is delightful to see that the hard work put in by all stakeholders in the face of great challenges, both professional and personal, has paid off and now our industry is back on track. Media and entertainment played a crucial role in helping the country navigate and overcome this crisis and reinforced its role in people’s lives”. The report projects that the industry is set to grow to $55-70B by 2030 at a CAGR of 9-11%, with digital video and gaming being the biggest growth drivers. Commenting on the report, Chandrajit Banerjee, Director General, CII, said, “CII has maintained its thought-leadership in Media and Entertainment sector over the years through various measures. Industry as well as Government and policy makers value the inputs which CII initiatives add to the knowledge pool of the sector. The Big Picture report, released on the occasion of the CII Big Picture Summit every year, holds a special place in this resource ecosystem. This year’s report, once again put together by BCG with the help of CII Media and Entertainment Committee, looks at the decade ahead, will help businesses chart their growth path and aide the government in framing enabling measures to facilitate further expansion of the sector.” Siddharth Roy Kapur, Co-Chairman, CII National Committee on Media &amp; Entertainment and Founder &amp; Managing Director, Roy Kapur Films said, “Film production and film exhibition were amongst the worst affected sectors in the M&amp;E business due to the pandemic. After a long period of shutdown, cinema halls are now back in business with a bang. A record number of big-ticket movies are lined up for release well into 2022. That augurs well for the sector but caps on occupancies, closures of cinemas and modified audience behaviour might impact the speed of recovery. On the other hand, streaming has provided new avenues for screening and broad-based the options available for producers, artistes and technicians. Along with the rise of regional cinema, this marks the start of a truly fantastic decade ahead for the Indian content business. Kudos to team CII and BCG for another enriching edition of the Big Picture report.” Biren Ghose, Vice Chairman, CII National Committee on Media and Entertainment and Country Head, Technicolor India said, “This year’s CII – BCG Big Picture report appropriately features the games sector in India captioned the “Future is play”. Despite sporadic regulatory hiccups, in some states, this segment is growing at around 30 per cent per annum which is the highest among the animation and visual effects (AVGC) sector. CII is confident that this report articulates the critical inputs to guide future policy thereby creating an enabling environment for industry to grow. The success of India’s media and entertainment will ultimately depend on the ability to scale world-class creative talent in order to capitalize on the global opportunity in this sector.” The report highlights the Media and Entertainment industry’s multimodal growth story. The Indian OTT sector is currently in the scaling stage with strong subscription growth and high investment in premium &amp; original content. The sector is one of the most competitive amongst emerging markets with 40+ players representing all types of content providers. “Cord cutting” (cancelling TV subscription and moving to OTT) is in nascent stages and is expected to be limited in the medium term. “The share of traditional media is slowly declining with increased digital adoption but there is still high headroom for penetration with only 54% of Indian households having a pay TV connection compared to more than 70% in China. For many households, TV continues to be the center of the home and a significant part of family time.” elaborates <keyword id="2680707" type="General" weightage="20" keywordseo="mandeep-kohli" source="Orion">Mandeep Kohli</keyword>, Managing Director and Partner, Boston Consulting Group India. As was the case with other industries, the past year has been a challenging one for the media and entertainment industry. However, the industry has shown remarkable recovery with TV ad volumes bouncing back to pre-COVID levels and expected to continue growing in the future, driven by increased advertising on regional channels &amp; entry of new advertisers. AVOD is now one of the fastest growing ad segments in India driven by interactive ad formats, blending of content and ads and the rise of short form AVOD platforms. One of the major themes in this year’s report is the industry’s anticipated transformation over the next decade. The Media and Entertainment industry is at a critical juncture of transformation, offering rapid growth in some areas. “To realize this growth, companies must tweak their strategies to take advantage of the current market situation. In addition to investing in content and technology to improve user experience, companies should also leverage suitable distribution models to enhance reach, focus on providing integrated ad solutions and offer innovative marketing formats to enhance the value proposition to advertisers.” elaborates Kanchan Samtani, Managing Director &amp; Senior Partner, Boston Consulting Group India. Setting the tone for the coming years, Madhavan said “Our industry has always been at the forefront of disruption and we will continue to innovate over the next decade. We will now need new answers and will need them fast, even on the most fundamental things like talent pool to run our companies and methodology for measuring the impact we are delivering to advertisers on our platforms. We will need to continue to embrace change going forward to create the most value for consumers as well as our partners.”

Media and Entertainment industry bounced back strongly post COVID blip, on-track to reach $55-70 billion by 2030: Report

<ul><li>According to data by the <keyword id="76562" type="General" weightage="20" keywordseo="Confederation-of-All-India-Traders" source="Orion">Confederation of All India Traders</keyword> (CAIT), over 3 million marriages will take place this <keyword id="6393318" type="General" weightage="20" keywordseo="Wedding-season" source="Orion">wedding season</keyword> in India, which will generate a business of over ₹3.75 lakh crore. </li><li>Hotels in North India are already sold out for this and the upcoming season next year already. </li><li>Most weddings continue to have shorter guest lists, in spite of high budgets. </li><li>Young couples are choosing off-season weddings.</li></ul>The onset of winter always spells a boom for the wedding market in India, but this season is different. After the Zoom weddings during the pandemic, this season 3.2 million weddings are expected to be held over December and January, as per CAIT. Like the festival season, there is no scrimping of the budgets either but something has changed after the pandemic. Call it the side effect of inflation or just a change in mindset, but weddings in India are more intimate affairs now, with thinner guest lists. “The pandemic has made the trend of mid-scale weddings with limited guests a big success. Couples are now keen to do small events and going big on intricate details,” Anam Zubair, head of marketing, <keyword id="13318814" type="General" weightage="20" keywordseo="WeddingWire" source="Orion">WeddingWire</keyword> India told Business Insider India. <cmsannotation type="cmsannotation" annotationid="Size does matter" comment="subhead" text="Size does matter">Size does matter</cmsannotation> Weddings are once-in-a-lifetime events, and Indians are known for throwing ‘<keyword id="486654" type="General" weightage="20" keywordseo="Big-fat-Indian-weddings" source="Orion">big fat Indian weddings</keyword>’. As per a <a href="https://www.livemint.com/politics/news/band-baaja-baraat-returns-with-gusto-11668965532547.html">KPMG report</a>, an Indian is likely to spend a fifth of his or her lifetime earnings on a wedding, and they can cost anywhere between ₹5 lakh to ₹5 crore. Over the last two years, the few weddings that were held during the pandemic had to stick to a slim guest list, following government’s restrictions on gatherings. Though the restrictions have been lifted, experts believe that the idea of an intimate wedding has struck a chord with people, and it’s here to stay. “The big fat Indian wedding has evolved and while people are spending more or less the same amount, the guest list size has significantly come down. From 400-500 guests on an average pre-Covid, it has now come down to 200-250. But the spending has not reduced as couples are focusing on enhancing the guest experience,” Zubair further explained. There, however, are exceptions, like in the case of a section of business families, who are continuing with their love for going big on celebrating marital unions. “In India, the concept of slim and slack weddings will coexist with big fat weddings. While the business families are back to big fat weddings with long guest lists, young couples still prefer intimate marriages,” Parthip Thyagarajan, CEO at <keyword id="4316003" type="General" weightage="50" keywordseo="weddingsutra" source="Orion">WeddingSutra</keyword>, a wedding portal, told Business Insider India. <cmsannotation type="cmsannotation" annotationid="Small but grand" comment="subhead" text="Small but grand">Small but grand</cmsannotation> Even as most couples are thinking ‘small’, it has had no effect on the size of the wedding season, that’s expected to hold around 3 million weddings. As per a <a href="https://www.businessinsider.in/business/news/estimated-32-lakh-weddings-till-dec-14-with-a-trade-of-rs-3-75-lakh-cr/articleshow/95352679.cms">report</a> by Confederation of All India Traders (CAIT), this year’s wedding season is expected to generate a business of about ₹3.75 lakh crore - an increase by 25% since last year. This, however, covers wedding purchases, services along with allied factors like house repairs that are undertaken as a part of wedding preparations. And, around 11% of the 3 million weddings are expected to be held in the national capital of India. In fact, most hotels in North India are already sold out for this and the upcoming wedding season next year. “We are getting a good response regarding the number of queries generated at our properties. Quite a few bookings have been confirmed until February 2023,” Vishal Lonkar, general manager, business development, <keyword id="14087766" type="General" weightage="50" keywordseo="renest-hotels-and-resorts" source="Orion">Renest Hotels and Resorts</keyword> told Business Insider India. Couples are now more focussed on perfect decor, cuisines and other smaller details, say experts. “Instead of a huge number of guests, the trend has shifted to grand weddings with a grand layout, décor, smaller number of guests, intimate gatherings, bespoke experiences, personalized services, exemplary selection of cuisine, beverages, the emphasis is ‘on the moment’, ‘luxury’, ‘larger than life’,” Kush Kapoor, CEO, <keyword id="3629833" type="General" weightage="50" keywordseo="roseate-hotels-and-resorts" source="Orion">Roseate Hotels and Resorts</keyword> told Business Insider India. Thanks to the wider selections being demanded by couples, the per plate costs of weddings also went up this season. “The cost has marginally increased by about 15%, but this is more to do with guests preferring luxurious, bespoke experiences, opting for more unique, global, fine dining cuisines, elaborate menus, wider selections,” Kapoor of Roseate Hotels further highlighted. <cmsannotation type="cmsannotation" annotationid="Off-season weddings in trend now" comment="subhead" text="Off-season weddings in trend now">Off-season weddings in trend now</cmsannotation> Couples who are now focussed on better wedding experiences are also willing to forego the muhurats or the traditional weddings seasons. This trend too was evident in the number of off-season weddings that took place this year, ahead of the busy November season. Zubair also says that they have seen an 18% y-o-y increase in couple sign-ups for bookings for off-season weddings. “It helps them reduce their wedding expenses significantly. During the wedding season/muhurat dates, both venues and vendors like photographers, caterers, etc. charge higher for the same products/services. In the over $50 million Indian wedding industry, this trend continues to resonate with consumers and drive new revenue opportunities for professionals,” Zubair said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/companies-discussing-labour-shortage-up-by-28-in-2022-report/articleshow/95654525.cms">Companies discussing labour shortage up by 28% in 2022: Report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/humans-will-be-able-to-live-for-longer-periods-on-the-moon-in-this-decade-says-nasa/articleshow/95652408.cms">Humans will be able to live for longer periods on the Moon in this decade, says NASA</a>

Big fat Indian weddings back but with slimmer guest lists

Despite unfavourable economic conditions in major markets such as the European Union (EU), the US, and West Asian nations, Indian <keyword id="21353395" type="General" weightage="100" keywordseo="textile-exports" source="keywords">textile exports</keyword> grew by 9.59 per cent compared to the previous year in May 2024, the Confederation of <keyword id="22064995" type="General" weightage="20" keywordseo="Indian-textile" source="keywords">Indian Textile</keyword> Industry (CITI) said in a report. Simultaneously, <keyword id="22064997" type="General" weightage="20" keywordseo="Indian-apparel-exports" source="keywords">Indian apparel exports</keyword> saw a growth of 9.84 per cent during the same period. The CITI in its report highlighted that the cumulative exports of textiles and apparel during May 2024 registered a growth of 9.70 per cent over May last year. The country's overall exports for May 2024 surged to USD 68.29 billion. This was a substantial year-on-year increase of 10.2 per cent, according to data released by the Commerce Ministry on June 14. The analysis noted that during Apr -May' 24, Indian textile exports registered a growth of 6.04 per cent over the previous year, while apparel exports registered a growth of 4.46 per cent during the same time period. The cumulative exports of textiles and apparel during April-May 2024 saw a surge of 5.34 per cent as compared to the same period last year. The recently released export data revealed that sectors such as electronic goods, drugs and pharmaceuticals, organic and inorganic chemicals, engineering goods, petroleum products, plastics &amp; linoleum, cotton yarn/fabs made-ups ( textiles manufactured), handloom products, etc., man-made yarn/fabs./made-ups, handloom products etc. performed well in the exports from the country. Other merchandise products, such as meat, dairy and poultry products, mica, coal and other ores, minerals including processed minerals, RMG of all textiles, tea, coffee, rice, tobacco, carpet and handicrafts, oil seeds; and fruits and vegetables, did well too. On Friday, AshwKumar, President of the Federation of Indian Export Organisations (FIEO), highlighted that a positive trajectory was seen in May 2024, driven by robust order bookings. Among the top ten export markets for India were the US, UAE, Netherlands, UK, China, Singapore, Saudi Arabia, Bangladesh, Germany and France. Considerably, in these markets, the exports registered a double-digit growth rate. Breaking down export data released yesterday, the merchandise exports witnessed a 9.1 per cent rise to USD 38.13 billion, while service exports climbed by 11.7 per cent, reaching USD 30.16 billion. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank">Hyundai Motor India files draft papers with SEBI for India’s biggest IPO</a><a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank">Tata Group reportedly looking to acquire a majority stake in Vivo India</a><a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms" target="_blank">KKR beats MI in terms of brand value, CSK and RCB continue to lead</a>

Indian textile exports surge by 9.59% in May despite global economic challenges

<ul><li>Indian stock market indices opened in green on Thursday.</li><li>The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. </li><li>These are the top stocks that are buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian benchmark stock index, Sensex advanced over 175 points in early trade on Thursday, led by financial stocks and fuelled by foreign funds ahead of the expiry of monthly derivative contracts. The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Housing Development Finance Corp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr></tbody></table>*as of August 27 10:40 am These are the top stocks that are buzzing in trade today: ICICI Bank gained over a percent ICICI Bank gained over a percent after the bank said it would sell up to 6.4 million shares (about 2% of the company) of its broking subsidiary ICICI Securities. The market value of 2% stake would be about ₹300 crore. With overall credit demand languishing under the weight of the pandemic, ICICI Bank has been cashing out of its investments. In <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">June 2020, the country's second largest private bank sold</a> stake in <keyword id="6468827" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-Life-Insurance">ICICI Prudential Life Insurance</keyword> and ICICI Lombard to raise around ₹3,090 crore. <div type="Article" hostid="261" msid="77776199" title="ICICI Bank's share price is expected to surge as much as 34% in the coming year — despite having more loans under moratorium than other lenders" mstype="2" mssubtype="0"></div> Mahindra &amp; Mahindra Limited shares up over 1% Mahindra &amp; Mahindra share price gained over a percent after the company said it has entered into a memorandum of understanding (MoU) with Israel-based e-mobility technology company REE Automotive to explore development and manufacturing of commercial electric vehicles for global markets. Reports suggest that the joint venture will produce up to 250,000 vehicles in the first few years. More importantly, the partnership will enhance Mahindra Group's capabilities in producing electric vehicles. <div type="Article" hostid="261" msid="77389244" title="M&amp;M’s farm equipment segment may have fueled investors hopes — but analysts aren’t too optimistic about it" mstype="2" mssubtype="0"></div> Sunteck, Godrej Properties and Oberoi Realty and other real estate stocks zoom Sunteck zooms 8%, Godrej Properties gains 5% and Oberoi Realty up over 6% after the Maharashtra government decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021, to March 31 2021. <div type="Article" hostid="261" msid="77757126" title="Indians are borrowing heavily against gold⁠— but it may have been wiser to borrow money to buy the precious metal instead of homes" mstype="2" mssubtype="0"></div> Future Enterprises hit upper circuit Future Enterprises shares hit a 5% upper circuit set by the stock-exchanges after the company said it is considering raising funds through the issuance of bonds. The cash-strapped Future Group <a href="https://www.business-standard.com/article/companies/future-enterprises-board-likely-to-discuss-merger-plan-on-saturday-120082100066_1.html?1597982924">reportedly</a> may merge three of its group companies before selling 50% stake in the combined entity to <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>. This has led to a rally in other group stocks as well, like Future Retail (up 7%), Future Consumer (up 4.3%), and <keyword id="1854044" type="PERSON" weightage="20" keywordseo="Future-Lifestyle">Future Lifestyle</keyword> (up 5%). HAL tanks 11% HAL shares tanked 11% after news surfaced that the Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). This government owned defence equipment maker has been a bad investment for shareholders since its listing over 2 years ago. While the government raised a little over ₹4,000 crore from the IPO, the shares have remained below the issue price for nearly the entire time. It did cross the threshold earlier this month, for the first time since the listing, but the exuberance lasted barely a week. Auto stocks tanked despite the expected GST rate revision <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Top losers on Nifty50 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.26% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.56% </td></tr></tbody></table> According to a statement issued by <keyword id="6363932" type="COMPANY" weightage="20" keywordseo="confederation-of-indian-industry">Confederation of Indian Industry</keyword>, Finance Minister Nirmala Sitharaman hinted at a cut in goods and services tax (GST) rate from 28% to 18%. The proposal is expected to be discussed at the 41st GST Council meeting at 11 am today via video conferencing. Allcargo Logistics gains about a percent Allcargo Logistics shares gained nearly a percent during the early trade hours on August 27. The board of directors of Allcargo Logistics is slated to meet today to consider and approve the voluntary delisting of shares. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-in-trade-icici-bank-oberoi-realty-godrej-properties-hal-infosys-mm-itc-rossari-biotech-allcargo-and-more/articleshow/77775215.cms" data-type="tilCustomLink">Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&amp;M, ITC, Rossari Biotech, Allcargo and more</a> <a href="https://www.businessinsider.in/defense/news/china-fires-two-missiles-into-the-south-china-sea-and-asian-markets-feel-the-blow/articleshow/77777358.cms" data-type="tilCustomLink">China fires two missiles into the South China Sea and Asian markets feel the blow</a>

Top stock movers — Future Enterprises, HAL, Suntek, Oberoi Realty, M&M, ICICI Bank, Maruti Suzuki, Bajaj Auto and more

<ul><li>During the coming <keyword id="6358814" type="General" weightage="20" keywordseo="wedding" source="Orion">wedding</keyword> season, 35 lakh weddings will take place across the country.</li><li>Normally, in a wedding, 20% of the expenditure goes to the groom-bride's side while 80% of the expenditure goes to other third party agencies.</li><li>Destination weddings are picking up, but even now it is meant for only a certain class and the masses cannot afford it. </li></ul>The big fat Indian wedding – a celebration so lavish, it's the stuff of TV series and legends. This extravaganza isn't just about tying the knot; it's a whirlwind of opulence, from palatial venues to sumptuous feasts. In a land where traditions meet modernity, and where elephants and drones both make appearances, welcome to a world of big fat Indian weddings. Along with brides, grooms and their families, traders across the country too are gearing up and preparing themselves adequately for one big bonanza for the upcoming wedding season. The first spell will begin from November 23, the day of Dev Uthan Ekadashi, till December 15th. The next phase of the wedding season will start from mid- January and will continue till July. During this period around 35 lakh weddings will be take place across the country with a flow of about ₹4.25 lakh crore by way of wedding purchasing and obtaining various services in the wedding business, as per a survey conducted by the CAIT Research and Trade Development Society, the research arm of Confederation of All India Traders (CAIT), among traders and service providers of 20 different cities. “According to estimates, there are 35 lakh weddings going to happen this year with an average spend of 12 lakh per wedding. Last year during the Nov-Dec timeline 32 lakh weddings happened. So, in my opinion the wedding season is going to be even bigger,” says Aman Kumar, co-founder and CTO, VivaHIT, a wedtech company. <cmsannotation type="cmsannotation" annotationid="Economic slowdown: Wait, what is that?" comment="Subhead" text="Economic slowdown: Wait, what is that?">Economic slowdown: Wait, what is that?</cmsannotation> There is a sense of overall economic uncertainty. Also, there is a slowdown in jobs. However, these factors are not likely to act as a dampener as far as wedding spending is concerned. “These short term factors don't really affect wedding spends in general. Just 1-2 years of bad market doesn't impact this number that much,” says Kumar. Also, with a shorter wedding season in November- December, the prices may have gone up, or there could be a large demand supply mismatch. However, Praveen Khandelwal, secretary general, CAIT says that we must understand that after Covid, this is the first year when there is no threat of any Covid or any other epidemic. <cmsannotation type="cmsannotation" annotationid="So, there is a good spirit among the people of the country to solemnise weddings at a faster pace." comment="Subhead" text="So, there is a good spirit among the people of the country to solemnise weddings at a faster pace.">So, there is a good spirit among the people of the country to solemnise weddings at a faster pace.</cmsannotation> Prices will not be affected because most of the dates are decided months before. The weddings for the first spell of the wedding season have already been finalised, maybe in the month of July or maybe in the month of June or in the previous months. Once the dates are finalised, the first thing of any wedding is to book the <keyword id="6424187" type="General" weightage="20" keywordseo="venue" source="Orion">venue</keyword>. “As far as the prizes are concerned, I don't think that there will be any splash in the prices,” says Khandelwal,. <cmsannotation type="cmsannotation" annotationid="Have money will spend" comment="Subhead" text="Have money will spend">Have money will spend</cmsannotation> Like anything else wedding <keyword id="161963" type="General" weightage="20" keywordseo="budgets" source="Orion">budgets</keyword> vary. According to CAIT, during this marriage season, about 6 lakh weddings will have an estimated expenditure of ₹3 lakh per wedding, while in about 10 lakh weddings the cost per wedding will be around ₹6 lakh per wedding, 12 lakh weddings will cost about ₹10 lakhs per wedding. Further, 6 lakhs weddings will cost ₹25 lakhs per wedding, 50 thousand weddings will have ₹50 lakhs expenditure per wedding and 50 thousand weddings will be such in which ₹1 crore or more money will be spent. Wedding expenses generally follow a 80:20 rule. Says Khandelwal, “It is a known fact that about 20 percent of the expenditure of each marriage goes to the broom-bride's side while 80 percent of the expenditure goes to other third agencies working in solemnising the marriage.” Put together, the market is huge. <cmsannotation type="cmsannotation" annotationid="Subhead" text="Band Baaja Baraat: A complete ecosystem">Band Baaja Baraat: A complete ecosystem</cmsannotation> It is important to understand that weddings span several industries. According to CAIT, during the wedding season, a large amount of business happens in the repair of houses and paint of the houses. Additionally, a wide range of items such as jewellery, traditional clothing like sarees and lehenga-choli, furniture, ready-to-wear garments, shoes, wedding and greeting cards, dry fruits, sweets, fruits, worship items, groceries, food grains, decoration items, home decor, electrical appliances, electronics, and various gift items are in high demand and expected to have a successful year. Venues for weddings, including banquet halls, hotels, open lawns, community centres, public parks, and farmhouses, are prepared across the country. Besides purchasing accessories for each wedding, various services play a crucial role. This includes tent decorators, floral decorations, crockery, catering services, travel arrangements, transportation services, professional welcoming groups, vegetable vendors, photographers, videographers, musical services like Shehnai, Orchestra, DJ, procession horses, wagons, lighting services, and much more. ‘Event management has also emerged as a thriving business, taking care of wedding arrangements from venue booking to event execution. So, get ready to witness Indian weddings in all their grand glory this year! With all the glitz, glamour, and joyful chaos, it's like a Bollywood blockbuster come to life. Love conquers all, and Indian weddings are the ultimate celebration of it!

The big fat Indian wedding is set to become bigger and fatter this year

E-commerce companies are facing a problem when it comes to entering the Indian market. COD, or cash-on-delivery, is the preferred system of payment for Indian consumers who shop online. <a href="http://www.businessinsider.com/cash-on-delivery-remains-the-preferred-method-of-payment-in-india-2016-6">83% of Indian consumers said they prefer cash-on-delivery to credit or debit card purchases</a>. The reason why so many Indians prefer a cash-on-delivery system is due to the fact that infrastructure and delivery within the country are not exactly the most reliable and credit card systems aren’t as trustworthy as those in other countries, and in fact many Indians do not even make use of credit or debit cards at all, as <a href="https://brandalyzer.blog/2017/06/11/credit-card-penetration-in-india/">credit card penetration in the country, while rising, is still low</a>. This COD problem is one that is absolutely worth solving. The digital economy in India, including e-commerce, is expected to grow into a <a href="https://www2.deloitte.com/content/dam/Deloitte/in/Documents/technology-media-telecommunications/in-tmt-e-commerce-in-india-noexp.pdf">$1 trillion market by 2022, according to a recent joint report by the Confederation of Indian Industry and Deloitte</a>. E-commerce companies that are looking to get a slice of this pie are experiencing some growing pains. One of the biggest pains is the COD problem. <a href="http://www.livemint.com/Companies/7uHnnB7jS7aUk4i4V2adSO/Amazons-loss-jump-to-936-million-in-September-quarter-on-I.html">Amazon reported losses of $936 million dollars in September</a>, and you could attribute some of those losses to the fact that Indians prefer cash-on-delivery. But why is COD such a problem for e-commerce companies like <keyword id="18635" type="ORGANIZATION" weightage="20" keywordseo="Amazon">Amazon</keyword>? Part of the reason is restricted cash flow. It could take months for payments to reach the seller, and as <a href="http://articles.economictimes.indiatimes.com/2013-11-04/news/43658867_1_indiatimes-shopping-flipkart-courier-companies">Sachin Bansal, co-founder of Flipkart said</a>, “I would not like to have cash transactions. The non-immediacy of payments and higher returns are the problems we face with cash-on-delivery.” Not only could cash take longer to reach sellers, there remains a possibility that it might not get to them at all. While cash-on-delivery transactions cost e-commerce companies an additional 3% to process it could be more when returns are factored in. <a href="https://economictimes.indiatimes.com/industry/services/retail/cash-on-delivery-hurts-bottom-line-of-cos-like-flipkart-snapdeal-due-to-extra-associated-costs/articleshow/25192740.cms?intenttarget=no">As Ashish Jhalani of eTailing India claims</a>, “the bottom line is impacted due to such orders. This number goes up by about 30% when returns happen.” The increased losses are not only due to returns but also because companies incur courier and shipping costs regardless of whether or not the customer purchases the product. <a href="https://hackernoon.com/how-cash-on-delivery-fuelled-e-commerce-growth-in-india-8ae66bea6cfe">So while impulse purchases may increase due to the fact that payment is not due at the time of ordering</a>, returns are commonplace, and there’s no assurance that a company will receive payment. So as India enters the digital age and online retail shopping rises, how do companies get around the COD problem? <a href="http://quantifiedcommerce.com">Quantified Commerce</a>, a company focused on building e-commerce brands mainly in India has found creative and practical answers to the problem of cash-on-delivery. We spoke to <keyword id="6504806" type="PERSON" weightage="100" keywordseo="Agam-Berry">Agam Berry</keyword>, co-founder of <a href="https://www.linkedin.com/company/quantifiedcommerce/">Quantified Commerce</a> to find out what his company is doing right now to avoid the COD problem. “The best way to lower returns and shipping cost in cod orders is by having local inventory in every city,” said <keyword id="41529" type="PERSON" weightage="20" keywordseo="Berry">Berry</keyword>, “we have warehouses in four cities and have plans to add forty cities by the end of the year.” This solution not only solves the cost problem but the return problem as well, “most of the time returns happen because a customer changes their mind in the time it takes for a product to get to them, but when you have inventory in every city lowering shipping times that problem is greatly reduced,” Berry said Berry also talked about how vertical integration is part of the solution to COD, “we’re looking into purchasing our own trucks, which would allow us to move our product between warehouses faster. Trucking and logistics in India are very fragmented and it takes as much as seven days to move a product from one part of the country to another, which puts further pressure on the liquidity of the companies in this space.” The decreased delivery time would be able to loosen the restricted cash flow as an added benefit, the faster a customer gets the product into their hands the faster a company can get the cash thus helping the cash flow cycle. While India is making strides towards the use of credit and debit cards, the COD problem is still one that is relevant to companies entering the Indian market. It’s a tough problem to solve, but with companies like <a href="https://twitter.com/QuantifiedC">Quantified Commerce </a>leading the charge, the solution may come sooner than we think.

Quantified Commerce’s Agam Berry on India’s love of cash on delivery

Exactly a year ago, at 8pm on November 8, 2016 to be precise, India's Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> dramatically announced on national television that the two highest-denominated currency notes in use would cease to be legal tender a few hours later. The decision to scrap 86 per cent of the currency in circulation in the then second largest emerging market in the world has not just polarised public opinion sharply, it has also led to mixed responses from <keyword id="46431" type="ORGANIZATION" weightage="100" keywordseo="india-inc">India Inc</keyword> on the first anniversary of <keyword id="3315394" type="PERSON" weightage="20" keywordseo="demonetisation">demonetisation</keyword>. The <keyword id="2673101" type="ORGANIZATION" weightage="20" keywordseo="associated-chambers-of-commerce-of-india">Associated Chambers of Commerce of India</keyword> says it stands by its demonetisation verdict -- "Short term pain, long term gain". Assocham Secretary General DS Rawat says, "Indeed, initially the informal and small scale industries as well as the rural economy was impacted, but now the economy has started getting desired results. Hope in the next 12 months the nation would have achieved the set objectives." Meanwhile, according to Chandrajit Banerjee, the Director General of the <keyword id="6363932" type="ORGANIZATION" weightage="20" keywordseo="confederation-of-indian-industry">Confederation of Indian Industry</keyword>, demonetisation was a bold move to shift the economy towards greater formalisation for a more stable and sustainable growth process. For the industry, Banerjee says: "Demonetisation was one of the means towards a transparent, efficient and competitive economy that is now being ushered in through reforms." "It contributed to building investor confidence and reassured us that the economic reforms process is heading in the right direction," he adds. On the contrary, the PHD Chamber of Commerce &amp; Industry says the effects of demonetisation still persists as demand in the economy is still lacklustre and business firms are still not enthusiastic in the production process. "Though demonetisation of Rs 500 and Rs 1,000 currency notes has completed one year today, the industries have still not recovered fully from the aftermath of unearthing 86 per cent of the total currency," says Anil Khaitan, President of PHD Chamber of Commerce &amp; Industry. Even as Khaitan appreciates the efforts of the government to stamp out black money from the system, curb corruption and to move towards less cash society, he adds: "Demonetisation drive has impacted the businesses directly or indirectly in terms of impact on demand and sales. The impact of demonetisation has been majorly seen on small businesses as they are highly driven by cash transactions." Even as demonetisation has left even India Inc divided on whether Prime Minister Modi's cash gamble has achieved what it set out for, demonetisation is certainly going to continue to be hotly debated for quite some time to come.

Demonetisation has even left India Inc. divided on PM Modi's biggest-ever economic gamble

The main key factors that affect the <a href="http://www.businessinsider.in/searchresult.cms?query=Real+Estate+industry+&amp;sortorder=effectivedate">Real Estate industry</a> are the fluctuating market dynamics and unpredictable global situations. To discuss the future of the Global Luxury <keyword id="6354553" type="COMPANY" weightage="100" keywordseo="real-estate">real estate</keyword> market, North India Sotheby’s International Realty will debate and discuss about it at <keyword id="4212349" type="UNKNOWN" weightage="100" keywordseo="global-luxury-realty-conclave">Global Luxury Realty Conclave</keyword> in association with <a href="http://www.businessinsider.in/searchresult.cms?query=Confederation+of+Indian+Industry&amp;sortorder=effectivedate">Confederation of Indian Industry</a> (CII). The event will be held in New Delhi on February 25-26 at The <keyword id="3953" type="ORGANIZATION" weightage="100" keywordseo="Taj-Palace-Hotel">Taj Palace Hotel</keyword>. 
 
The two-day event scheduled at The Taj Palace Hotel will provide a unique platform to interact with top business minds in the Luxury Real Estate industry. The event will cover an extensive range of topics of interest to the stakeholders such as ‘Impact of changing policies on Indian real estate’; ‘Evolving real-estate market and trends’; ‘Impact of international events on global real estate’, ‘Factors affecting Indians buying abroad’; ‘NRI potential across the world’, ‘Citizenship by investment’ and many more. 
 “We aim to put together our knowledge, experience and resources to host a remarkable global real estate program,” said Chandrajit Banerjee, Director General, <keyword id="6363932" type="ORGANIZATION" weightage="100" keywordseo="Confederation-of-Indian-Industry">Confederation of Indian Industry</keyword>. 
 
It will have an international networking platform comprising of real estate industry experts, select international &amp; domestic developers, tax advisories, HNIs, creative leaders, as well as luxury observers and innovators. 
 Also, an exhibition showcase of <keyword id="4212351" type="UNKNOWN" weightage="100" keywordseo="Indian-International-properties">Indian &amp; International properties</keyword> along with panel discussions on the real estate sector will be held.

Global Luxury Realty Conclave is here. These are the details

There has been an increasing participation from the private sector in the flagship Swachh Bharat campaign of the Indian government, because of which the government has decided to open a marketplace where it would put up all the cleanliness projects that need help. 
 
Also read: <a href="http://www.businessinsider.in/Modis-Swachh-Bharat-Abhiyan-gets-one-more-partner/articleshow/54561345.cms">Modi’s Swachh Bharat Abhiyan gets one more partner</a> 
 The <keyword id="162100" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Urban-Development">Ministry of Urban Development</keyword> is roping in industry groupings including <a href="http://www.businessinsider.in/searchresult.cms?query=Confederation+of+Indian+Industry&amp;sortorder=effectivedate">Confederation of Indian Industry</a>, <keyword id="6355001" type="CITY" weightage="20" keywordseo="FICCI">FICCI</keyword> and <keyword id="6355988" type="CITY" weightage="20" keywordseo="Assocham">Assocham</keyword>, so that they can connect it with companies that are looking forward to spend their <a href="http://www.businessinsider.in/How-is-CSR-Law-driving-the-Corporates-towards-Shared-Value-Approach/articleshow/53942423.cms">Corporate Social Responsibility</a> (CSR) budget. 
 
Companies will be able to choose projects that suit them by connecting with the urban local bodies. This will provide companies with projects and the government with money, resulting in a win-win situation for both. 
 
Also read: <a href="http://www.businessinsider.in/This-is-what-Asias-cleanest-village-in-Meghalaya-looks-like/articleshow/52571013.cms">This is what Asia’s Cleanest Village in Meghalaya looks like</a> 
 
In 2014-15, 52 public sector units and 409 private organisations collectively spent Rs 6,338 crore on CSR activities in India, and completed 1,790 projects. Out of this, Swachh Bharat Kosh got Rs 15.5 crore, or 0.25%. 
 
Also read: <a href="http://www.businessinsider.in/india-inc-spent-more-on-csr-in-2016-exceeds-the-threshold/articleshow/57142735.cms">India Inc spent more on CSR in 2016, exceeds the threshold</a> 
 
"Companies prefer to fund projects and get them executed through a third party rather than connect with the urban local body," a senior urban development ministry official told ET. 
 
Also read: <a href="http://www.businessinsider.in/sdmc-to-make-restrooms-in-south-delhi-hotels-and-restaurants-open-to-all/articleshow/57646024.cms">SDMC to make restrooms in South Delhi hotels and restaurants open to all</a> 
 
"It is usually the impression the private sector has that urban local body means delayed decision-making. The companies are often not aware of the exact project plans of ULBs under the mission and are not aligned with the immediate demands. The marketplace is aimed at changing this." 
 
There would be several projects listed on the marketplace, including construction of household, public and community toilets, waste management infrastructure and information, education and communication initiatives. 
 
(Image source: NEDFI)

Swachh Bharat campaign goes digital! Private companies can now choose their cleanliness projects online

The telecom sector in India is on an all-time high these days, and this is proved not only because of the boost in the investments in this sector, but also from the fact that the sector, along with allied services, is going to generate over 10 lakh jobs directly and indirectly in the next three years. The finding has come from the <keyword id="3331005" type="UNKNOWN" weightage="100" keywordseo="India-Skills-Report-2016">India Skills Report 2016</keyword>, which has forecast a 20% growth in the hiring these sectors this year. 
 This is in stark contrast from last year, when the telecom and allied services ranked amongst the least-hiring sectors. Jointly prepared by PeopleStrong and Wheebox, the report also saw collaboration from the <keyword id="6363932" type="ORGANIZATION" weightage="100" keywordseo="Confederation-of-Indian-Industry">Confederation of Indian Industry</keyword> (CII), LinkedIn and Association of Indian University. 
 
The reason behind the sector hiring on a large scale can be found in the steps taken by the government to provide a conducive environment for service providers, which includes the auction of 3G and 4G spectra. 
 
The report said that about 82% of India's urban population and 18% of India's rural population depends on mobile and internet these days, thus expanding the scope of job offering in the telecom sector. Along with this, constant additions of mobile, landlines, wireless and broadband subscribers is also responsible for creating more and more jobs. 
 
<a href="http://i.huffpost.com/gen/2896292/images/o-MOBILE-INTERNET-INDIA-facebook.jpg">Image source</a>

India’s increasing dependency on mobiles and internet to generate over 10 lakh jobs in 3 years

It was in the early <a href="https://www.the-aiff.com/article/indian-football-down-the-years-looking-back-at-the-glorious-moments">1950s </a>that newly free India went up against Iran on the <keyword id="64" type="General" weightage="20" keywordseo="football" source="Orion">football</keyword> court in the inaugural Asian Games and bagged its first gold medal. Later, the country participated in the Olympics and other Asian Games, and also formed a team for women in 1980, grabbing many shiny medals along the way. <div type="image" title="India in action at the 1956 Olympics - AIFF" msid="93647037" hostid="261" caption="&amp;lt;p&amp;gt;India in action at the 1956 Olympics - AIFF &amp;lt;/p&amp;gt;"></div> For the first time ever in football’s history, India has been suspended by the International Federation of Association Football (<keyword id="57149" type="General" weightage="100" keywordseo="fifa" source="Orion">FIFA</keyword>). <keyword id="57299" type="General" weightage="20" keywordseo="All-India-Football-Federation" source="Orion">All India Football Federation</keyword> (<keyword id="50985" type="General" weightage="20" keywordseo="AIFF" source="Orion">AIFF</keyword>) has also been stripped of its right to host the 2022 junior Women's World Cup. The Under-17 Women’s World Cup was scheduled to be held across Odisha, Goa and Maharashtra in October this year. Many first-time participants, who have been training for years, are now feeling uncertain about their future. <div type="image" title="Under-17 Women’s World Cup team" msid="93647050" hostid="261" caption="&amp;lt;p&amp;gt;Under-17 Women&amp;#8217;s World Cup team&amp;lt;/p&amp;gt;"></div> The ban could still be lifted if a few conditions are met but what led to AIFF’s suspension? Why has FIFA suspended AIFF? The governing body of world football announced the suspension citing the "undue influence from third parties, which constitutes a serious violation of the FIFA Statutes”. The suspension is effective from August 14, 2022 until further notice, according to a letter from Fatma Samoura, Secretary General, FIFA. This will affect India’s international participation. The troubles began when former AIFF president Praful Patel who was also a FIFA council member, refused to resign from his post as the head of football in the country after his tenure of three years ended in December 2020. Patel is also a member of the Nationalist Congress Party. <div type="image" title="Praful Patel&amp;#39;s tenure ended in December 2020" msid="93647079" hostid="261" caption="&amp;lt;p&amp;gt;Praful Patel&amp;#39;s tenure ended in December 2020&amp;lt;/p&amp;gt;"></div> FIFA’s rules state that its member federations must be free from legal and political interference. FIFA’s Article 19 also states that each member association shall manage its affairs independently and without undue influence from third parties. A member association’s bodies shall be either elected or appointed in that association. A member association’s statutes shall provide for a democratic procedure that guarantees the complete independence of the election or appointment. <div type="image" title="Timeline of what led to AIFF’s ban" msid="93647104" hostid="261" caption="&amp;lt;p&amp;gt; Timeline of what led to AIFF&amp;#8217;s ban &amp;lt;/p&amp;gt;"></div> After Patel’s resistance to resigning, AIFF did not hold fresh elections. The matter then went to the Supreme Court, which announced the immediate resignation of Patel and formed a three-member Committee of Administrators (CoA) to run the AIFF and govern the sport. It appointed Justice (retired) Anil R Dave, former Chief Election Commissioner of India, Dr S.Y. Quraishi and former India captain Bhaskar Ganguly to the CoA. <div type="image" title="Supreme Court formed a three-member Committee of Administrators" msid="93647115" hostid="261" caption="&amp;lt;p&amp;gt;Supreme Court formed a three-member Committee of Administrators&amp;lt;/p&amp;gt;"></div> FIFA directed CoA to get new elections underway, finalise the constitution and present it to FIFA and the Asian Football Confederation (AFC). India is not the only country India is not the first country to be suspended by FIFA. In 2021, Pakistan Football Federation was banned temporarily due to the same violations. The ban was lifted last month. Zimbabwe, Kenya, Chad, Benin, Kuwait, Nigeria and Iraq have also been at the receiving end of FIFA’s wrath. How will it affect India? Both male and female players won’t be able to participate in international tournaments till the ban is lifted, which includes the 2023 Asian Cup. In June, India’s football team captain Sunil Chhetri said a ban would be “catastrophic” for the country and him. “No matter what is happening on that front, I hope it is under control and the country does not get a ban. Because, that will be catastrophic, not just for the whole country but for me, because I’m 37. I’m playing my last games. You never know when there’s a last game for you,” said Chhetri. Indian professional football club based in Calicut, Gokulam Kerala, has already found itself stranded in Uzbekistan after the FIFA suspension. The team was scheduled to play at the AFC Women's Club Championship. On August 18, SC asked the centre to take a proactive role and ensure that India is able to host the U-17 Women’s World Cup in October. The men’s team is also scheduled to play Singapore and Vietnam in September and India’s participation in SAFF Women's Championship next month also looks uncertain. The suspension has not only dampened the morale of players who have been training for years, but it has also disappointed fans who were looking forward to watching the tournament live. The sport is watched by more than 23 million people, says a recent report by Ormax Media. Will the suspension be lifted? The suspension will be lifted once the AIFF administration regains full control of their daily affairs, which means no CoA. FIFA has also told India to form an independent electoral committee. Till then, as far as Indian footballers are concerned, it’s a wait-and-watch game. Here's a small video <div type="image" title="Why has FIFA banned All India Football Federation?" msid="93647172" hostid="261" caption="&amp;lt;p&amp;gt;Why has FIFA banned All India Football Federation?&amp;lt;/p&amp;gt;"></div>

Simply put: Why has FIFA banned India and how will it impact India’s football industry?

Corporate leaders have requested Indian Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> to take steps to lower down capital cost to boost manufacturing and enhance consumer demand. 
 
The corporate leaders met Modi during the first interaction. 
 
Top industry sources told Economic Times that the leaders jointly urged the Indian Government to take steps to enhance consumer demand, which will improve capacity utilisation across sectors and boost manufacturing. 
 
"Industries across sectors are yet to reach the level of optimal capacity utilisation, indicating that the consumer demand continues to be weak," a person who attended one of the meetings told the financial daily. 
 
The demand showed how the industry was disappointed due to meagre rate cuts by the Reserve Bank of India (RBI). 
 
Although the RBI has reduced key interest rates by 75 basis points, the banks have passed on less than half of that to borrowers. 
 Modi met delegations of the <keyword id="390331" type="ORGANIZATION" weightage="100" keywordseo="Confederation-of-Indian-Industries">Confederation of Indian Industries</keyword> (CII) and the Federation of Indian Chambers of Commerce and Industry (FICCI), separately, each lasting about an hour. 
 
The leaders have also sought for additional support to export-oriented sectors so as to scale up production in a competitive manner to cater to overseas markets. 
 
Meanwhile, Modi said three sectors contributed the most to India's import bill - oil and petroleum, electronic goods and defence. He added that sectors had immense potential to innovate and 'Make in India'. 
 
"He spoke of the attention that he has been giving to speeding up projects in various ways, including his monthly PRAGATI interaction with various ministries of the union government, as well as chief secretaries of states," a statement issued by prime minister's office said. 
 
(Image: Reuters)

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