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<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="2250730" type="General" weightage="20" keywordseo="digital-payments-industry" source="Orion">digital payments industry</keyword> is witnessing a huge surge, with transaction volumes growing by 42 per cent year-on-year (YoY) in FY 2023-24, according to a new report by <keyword id="20055667" type="General" weightage="20" keywordseo="PwC" source="keywords" meta.keywordsubtype="org" meta.entityname="PwC" meta.hostid="261" meta.entityid="PwC">PwC</keyword>. The report projects that the industry will experience threefold growth, with transaction volumes set to rise from 159 billion in FY 2023-24 to 481 billion by FY 2028-29. In terms of transaction value, the market is expected to nearly double during this period, expanding from INR 265 trillion to Rs 593 trillion by FY 2028-29. Unified Payments Interface (<keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword>) continues to lead India's <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> revolution. In FY 2023-24, UPI saw an impressive 57 per cent YoY growth in <keyword id="20030236" type="General" weightage="20" keywordseo="transaction-volume" source="keywords">transaction volume</keyword>, surpassing 131 billion transactions. The report estimates that by FY 2028-29, UPI transactions could reach 439 billion, making up a staggering 91 per cent of India's retail digital payment transactions. In FY23 alone, UPI accounted for over 75 per cent of the total transaction volume, reinforcing its pivotal role in the digital payments landscape. This upward trend has persisted into FY24, with UPI transactions reaching Rs 199.9 trillion in value. Considering the current growth trends, UPI's market penetration, and technological advancements, the <keyword id="861185" type="General" weightage="20" keywordseo="PwC-report" source="Orion">PwC report</keyword> predicts that daily UPI transactions may reach 1 billion during FY 2027-28 and could soar to 1.4 billion by the end of FY 2028-29. As UPI's growth accelerates, the use of debit cards has seen a decline in both transaction volume and value. Consumers are increasingly shifting their preference towards UPI for convenience and ease of use, affecting the traditional card payment landscape. Digital payment infrastructure, both online and offline, is rapidly expanding across India, including in Tier 2, 3, and 4 cities. The YoY growth in QR code usage has been significant, with an increase of over 30 per cent in FY 2023-24. Additionally, the adoption of innovations like soundboxes, merchant cross-selling, and new activation strategies have further fuelled the use of digital payments by merchants, especially in smaller cities.

Digital payments in India to grow threefold—from 159 billion in FY24 to 481 billion by FY29: PwC

Noted <keyword id="48669" type="General" weightage="20" keywordseo="banker" source="Orion">banker</keyword> <keyword id="396965" type="General" weightage="20" keywordseo="kv-kamath" source="Orion">KV Kamath</keyword>, who now chairs the National Bank for Financing Infrastructure and Development (NaBFID), expects the digital sector to contribute a quarter of the incremental <keyword id="35050" type="General" weightage="20" keywordseo="gdp" source="Orion">GDP</keyword> by the time the economy becomes a USD 7 trillion giant by <keyword id="9422686" type="General" weightage="20" keywordseo="FY29" source="Orion">FY29</keyword>. Currently, the contribution of the digital economy is a low 4 per cent, whereas it is as much as 40 per cent in China. The government and planners see the economy becoming the third largest in the world by FY29, overtaking Japan, with a GDP of USD 7 trillion from the present USD 3.3 trillion. The digital economy -- the digital infrastructure, e-commerce and other digital payments and services segments--can be the country's biggest growth-driver and can contribute as much as 25 per cent of the incremental GDP by the time India becomes a USD 7-trillion economy by FY29. Currently, the share is a low 4 per cent, Kamath told PTI in an interaction over the weekend. "As much as 40 per cent of the Chinese economy come from the digital sector today, and I don't see any reason why we can't achieve this," the former ICICI Bank chairman quipped. The chairman of NaBFID, the newest development finance institution funded by the government, does not see any reason to stop pushing infrastructure investments as the economy has lot more appetite for more expressways, highways, airports, seaports, and high-speed railheads, discounting a question whether he sees any room for an encore of the banking crisis that befell on lenders after the government push on infrastructure during FY06-08. "The economy has more appetite for infrastructure and we still have a lot to do on the key infrastructure sectors of transport such as expressways, highways, airports, seaports, and high-speed railway networks. I would say on roads, we've to have more and more expressways going forward, large airports and dedicated high-speed railheads for both goods as well as passengers," Kamath said. "More important, we can have more urban rejuvenation projects. Why to limit this to the top cities alone? Let's build more world class cities and also upgrade the existing ones," he said. The economy will need more expressways, more airports and seaports to handle the demand of an economy that will be doubling from the present size to be the third largest with a USD7 trillion GDP over the next five years, he explained. He also does not see the asset quality of banks imploding again as happened in the last leg of the past decade as most of the infra companies went bust due to their excessive debt-driven expansion. When pointed out that the highly talked about NPA resolution -- from over 12 per cent to under-5 per cent now--come with a heavy cost on banks, having written off close to Rs 13 lakh crore since the IBC came into force as the recovery has been less than 30 per cent so far, Kamath said whatever progress has been made so far is the topping and as "we move forward and as the IBC system improves, there will be more incremental gains." On the funding part, he said, though banks will continue to remain an integral part of infra funding, there is a need to look at more sources that offer longer term funds. The <keyword id="49448" type="General" weightage="80" keywordseo="nhai" source="Orion">NHAI</keyword> has made a very good beginning with asset monetization through InVits. The whole infra segment, including the railways, should move into the monetization model and this is the most secure way of fundraising, he said. On the digital front, Kamath said, the NaBFID is actively looking to fund key areas in this space such as data centres , smart cities etc. The NaBFID was set up in 2021 with an Act of Parliament with Rs 20,000 crore capital and it made the first lending with a Rs 520 crore loan to the Banihal Qazigund Road Tunnel project in J&amp;K in December. The company expects to do around Rs 15,000 crore of funding by the end of this fiscal.

KV Kamath says digital economy can contribute 25% GDP by FY29

India's <keyword id="20041800" type="General" weightage="20" keywordseo="power-generation" source="keywords">power generation</keyword> and transmission sectors are poised for substantial growth. As the country enters a phase of capex-driven <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword>, the power intensity should rise, said Jefferies in its latest September report. The report added that the power generation and transmission sectors are projected to rise 2.2 times to $280 billion between FY24 and FY30, compared to FY17-23. The American firm noted that the power intensity will be essential to sustain the economy's growth, as the GDP is expanding at a rapid pace. It further added that the <keyword id="20025372" type="General" weightage="20" keywordseo="power-consumption" source="keywords">power consumption</keyword> is expected to grow more than 7% annually. The report anticipated that by FY30, India's total power generation capacity will need to increase from 442 GW in FY24 to 673 GW, to avoid power shortages. This expansion will drive further investment in <keyword id="20421620" type="General" weightage="20" keywordseo="thermal-power" source="keywords">thermal power</keyword>, which is expected to play a vital role in maintaining grid stability, the report added. The country's thermal power plants, which currently operate at around 65-70 % plant load factor (PLF), will play a critical role in meeting this demand. The average annual PLF for thermal power plants is anticipated to surpass the peak levels observed in FY08 by FY28, with thermal utilisation rates already hitting 74% in FY25 to date. However, it also highlighted that the peak power deficits are becoming more frequent, driven by years of underinvestment in the sector. To prevent regular power shortages, the focus will be on accelerating capacity additions and boosting investment in power transmission and distribution (T&amp;D) equipment, Jefferies said. It stated that the capacity additions are projected to rise significantly, especially in thermal power where the annual addition rate is set to increase to 17 GW from the current 2-5 GW. In line with traditional energy sources, the capacity of <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> will also grow rapidly. The annual capacity addition for renewables is expected to increase 3.5 times between FY24 and FY27 compared to FY10-20, it estimated. India has set the target to achieve 450 GW of renewable energy target by 2030. The power transmission sector is also set for significant growth, with the bid pipeline increasing seven-fold over the past three years. In February 2021, the pipeline was valued at less than Rs 150 billion, but as of now, Rs 1 trillion in projects are up for bidding. According to the report, this rapid expansion will be driven by the government's focus on expanding renewable energy capacity, alongside the growing needs for storage, green hydrogen, data centres, and <keyword id="20785352" type="General" weightage="20" keywordseo="electric-vehicle-infrastructure" source="keywords">electric vehicle infrastructure</keyword>. <h2>Growth in defence companies </h2>With regards to the country's defence sector, the potential market opportunity for Indian defence companies is expected to rise at 13% CAGR (compound annual growth rate) over financial year (FY) 2024-FY 2030E (estimated), driven by the government's indigenisation focus on export opportunity, Jefferies added in its sectoral report on defence. Citing factors such as global geopolitical tensions and India's rising focus on self-reliance, the report added that these factors are fuelling order flow and revenue growth for domestic defence companies. "Government focus on building country-to-country relations to promote exports is icing on the cake," Jefferies added. It further added that <keyword id="23083971" type="General" weightage="20" keywordseo="Indias-defence-spending" source="Orion">India's defence spending</keyword> will double between FY24 and FY30, which should continue to push the stock prices of the defence companies higher. India is expected to have a defence market opportunity worth $90-100 billion over the next 5-6 years, with the defence industry likely to grow at 13% annually from FY24 to FY30. It added, that even though India is one of the top three countries in terms of defence spending globally, in 2022, its spending was only about 10% of what the U.S. spent and 27% of China's spending. India is the second-largest importer of defence equipment, making up 9% of global arms imports. The expectation is that India's defence spending on big equipment (capital defence) will keep growing at around 7-8% per year, just like in the last 10 years, the American financial services company stated in its anticipation. Going further, it added that the export defence opportunity for the companies is expected to rise at 18 % CAGR in FY24-30E. India's defence exports rose 14 times in FY17-24 to $ 2.6 billion. "We believe this should rise further to $7 bn by FY30E and is directionally in line with the government target of achieving $ 6 billion by FY29E," it added. For Indian exporters, Italy, Egypt, the UAE, Bhutan, Ethiopia, and Saudi Arabia form the most attractive defence destinations. Middle East (ME) accounts for 33 % of global arms imports at $ 11 billion and offers an opportunity for India. Qatar and Saudi account for 52 % of ME imports, as per the report.

India's power sector to rise 2.2x, defence sector to grow at 13% CAGR by 2030

The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="83" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) along with <keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword> international payments ltd (NIPL) will work towards taking <keyword id="19900911" type="General" weightage="20" keywordseo="UPI" source="keywords">UPI</keyword> to 20 countries by FY29. RBI Annual report says possibilities will be explored for increasing the global footprints of UPI and <keyword id="19907221" type="General" weightage="20" keywordseo="RuPay" source="keywords">RuPay</keyword>. "In light of goals for Viksit Bharat 2047, the Reserve Bank, along with NPCI International Payments Ltd. (NIPL) will work towards taking UPI to 20 countries with initiation timeline of 2024-25 and completion timeline of 2028-29," the report said. The RBI report further adds "Fast Payment System (FPS) collaboration with group of countries like European Union and South Asian Association for Regional Cooperation (SAARC), as well as multilateral linkages will be explored". The Payments Vision Document 2025 of RBI has outlined expanding the global outreach of UPI and RuPay cards as one of the key objectives under the internationalisation pillar. The Reserve Bank is in talks with central banks of various countries for entering into collaborative arrangements. In July 2023, the Reserve Bank and the Central Bank of the UAE (CBUAE) signed a memorandum of understanding (MoU) for interlinking their payments infrastructure. Under this MoU, India and UAE have agreed to cooperate on linking their Fast Payment Systems, UPI of India with Instant Payment Platform (IPP) of UAE called Aani. Both countries also agreed to link their respective Card Switches (RuPay switch and UAESWITCH). In February 2024, RuPay cards and UPI connectivity between India and Mauritius was launched. With this connectivity, an Indian traveller to Mauritius will be able to pay a merchant in Mauritius using UPI apps. Similarly, a Mauritian traveller will be able to do the same in India using the instant payment system apps of Mauritius In February 2024, UPI connectivity between India and Sri Lanka was launched. This connectivity has enabled Indian travellers to make QR code-based payments at merchant locations in Sri Lanka using UPI apps. The Reserve Bank of India and Nepal Rastra Bank are also exploring the linkage of UPI platform of India and National Payments Interface of Nepal for enabling cross-border payments. In June 2023, NPCI International Payments Ltd. (NIPL) and Nepal Clearing House Ltd. (NCHL) signed a MoU for the purpose UPI payment through QR code is already accepted for merchant (e-commerce) payments in France and Nepal. India has some or other kinds of tie-ups with seven countries for making payments through UPI. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-june-2024/slidelist/110591467.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-june-2024/slidelist/110591467.cms" target="_blank">Upcoming cars and two-wheelers launching in India in June 2024</a><a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank">Lok Sabha Exit Poll 2024 – what are they, when will they be announced and all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/news/huawei-beats-samsung-to-take-the-top-spot-in-global-foldable-smartphone-shipments/articleshow/110583786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/huawei-beats-samsung-to-take-the-top-spot-in-global-foldable-smartphone-shipments/articleshow/110583786.cms" target="_blank">Huawei beats Samsung to take the top spot in global foldable smartphone shipments</a>

RBI is working on expanding UPI to 20 countries by 2028-29: RBI Annual Report

The IPO of <keyword id="22625253" type="General" weightage="20" keywordseo="Brainbees-Solutions-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Brainbees Solutions Ltd" meta.hostid="261" meta.entityid="Brainbees Solutions Ltd">Brainbees Solutions Ltd</keyword>, popularised by its brand <keyword id="19939174" type="General" weightage="100" keywordseo="Firstcry" source="keywords" meta.keywordsubtype="org" meta.entityname="Firstcry" meta.hostid="261" meta.entityid="Firstcry">FirstCry</keyword>, opened for subscription today and will close on August 8, 2024. The company is looking to raise Rs 4,193.73 crore, out of which Rs 1,666 crore will come via a fresh issue and the remaining Rs 2,527 crore will be garnered through an offer for sale (OFS). Only 10% of the total issue has been made available to retail investors, while 15% is reserved for NII (Non institutional investors) and the remaining 75% will be taken up by QIBs (Qualified Institutional Buyers). The share allotment will be finalised on August 9th, followed by refunds and crediting of shares, which will take place on August 12th. Trading is set to commence on both BSE and NSE from August 13th, 2024. The company plans to utilise these funds to set up new modern stores for its other brand, BabyHug, investing in Digital Age, one of its subsidiaries, expansion purposes and setting up warehouses in India and KSA, among others. <h2>India's booming <keyword id="27780" type="General" weightage="20" keywordseo="childcare" source="Orion">childcare</keyword> market</h2>Presently, India has the largest population of children globally, with approximately 306 million children under 12 years of age as of July 1, 2023, and a birth rate of 16.3 births per thousand people in 2022. In fact, population aged 0-12 accounts for approximately 21% of India’s population as of 2023. The company has substantial headroom for growth, given that childcare products spending per capita in India is currently nascent (between Rs 9,280-9,350) in FY24. It is projected to at a CAGR of 13-15%, which is higher than those in mature markets, between FY24 and FY29. And historically, except for health &amp; food in childcare products, the entire childcare market has been low on brand penetration. There are only a handful number of large multi-category childcare product brands, amongst which FirstCry has made a distinct name for itself. <h2>About the company </h2>FirstCry claims to be India's largest <keyword id="22691071" type="General" weightage="20" keywordseo="multi-channel-retailing" source="keywords">multi-channel retailing</keyword> platform selling products specifically catering to <keyword id="28603" type="General" weightage="20" keywordseo="mothers" source="Orion">mothers</keyword>, <keyword id="22691073" type="General" weightage="20" keywordseo="babies-and-kids" source="Orion">babies and kids</keyword>. Apart from its online platform, it also operates 1,063 modern stores in total across 533 Indian cities, up from 904 stores in 2023. The company functions across various channels, which includes its online platform, which is also present in UAE and KSA (Kingdom of Saudi Arabia), apart from India, and modern stores within the country. As of March 31, 2024, the company had 556 franchise partners, 9 warehouse partners, 302 logistics partners and 567 distributors. The company is a popular name in mothers, babies and kids segment, with more than 1.65 million SKUs (stock keeping units) from more than 7,580 brands on its multi-channel platform across the clothing and fashion, toys, books, school supplies, diapers, bath and skin care, feeding and nursing, health and safety, baby gear, and maternity categories. The company's GMV has also seen a steady growth, from Rs 52,390 million in FY22 to Rs 75,827 million in FY24. The company has been steadily ramping up its offline presence, with physical stores making up 23.09% of the company's India GMV in 2024, up from 18.42% in 2022. Conversely, the portion of online sales (as a part of total GMV) has come down from 81.58% in FY22 to 76.91% in FY24. According to company's RHP (red herring prospectus), 37.07% of company's total GMV (gross merchandise value) in 2024 stems from South India, up from 35.96% in 2022. The share of North India in the company's total GMV has largely been consistent, from 27.25% in 2022 to 27.56% in 2024. But contribution of west India dipped from 24.03% in 2022 to 21.55% in 2024. The company’s revenues from operations also grew from Rs 24,012.9 million in FY22 to Rs 64,808.6 million in FY24. Additionally, the company's bottom line has been in red for the last 3 years, along with its cash flows. It incurred losses worth Rs 786.85 million in FY22, which burgeoned to Rs 4,860.56 million in FY23. However, the company has been able to contain its losses, which stood at Rs 3,215.07 million in FY24. Notably, the company has a high level of dependency on its relationships with third-party manufacturers, particularly for its home brand products. Also, it does not have exclusive agreements with contract manufacturers, suppliers, and third-party brands. As such, a sudden termination or adverse impact on any of its stakeholders is bound to dent the company's financials as well. <h2>Expert Opinion</h2>Says Shivani Nyati, Head of Wealth, Swastika Investmart Ltd,"Brainbees has encountered financial challenges, incurring losses for the past three years despite revenue growth. Negative cash flows further underscore these concerns. The company operates in a highly competitive landscape and relies on third-party manufacturers, suppliers, and brands for its product offerings". "Due to the absence of profitability, a meaningful P/E valuation cannot be determined. Additionally, the lack of comparable listed peers limits comparative analysis. Consequently, we maintain a neutral stance on the IPO and advise investors to conduct thorough due diligence before making an investment". Kuber Chauhan, analyst at Anand Rathi Research, "At the upper price band company is valuing at Marketcap/Sales of 3.7x with a market cap of ₹24,142 million post issue of equity shares. Therefore, on the valuation front, we believe that the company is richly priced. Thus, we recommend a “Subscribe” rating to the IPO".

All you need to know about Brainbees Solutions IPO: Should you subscribe or not?

New Delhi, Men's fashion brand <keyword id="1567712" type="General" weightage="100" keywordseo="snitch" source="Orion">Snitch</keyword> looks to expand its presence in small cities and towns and open at least 7-8 offline stores in places like Surat, Mumbai and Pune this financial year, a top company official said. The company has a good presence in Tier-1 and -II cities, Snitch founder <keyword id="16273158" type="General" weightage="80" keywordseo="siddharth-dungarwal" source="Orion">Siddharth Dungarwal</keyword> said. The company has its largest consumer base in Mumbai and Pune followed by Delhi NCR and Bengaluru at present. "The next set of strategies for us is to penetrate deeper into the tiers and geographies, into the Tier III and -IV plus in terms of team building," Dungarwal told PTI. The fashion brand also looking to open 7-8 offline stores this fiscal and take the number of stores to 22 in the next financial year. "Expanding our offline stores now, we'll be doing at least seven to eight offline stores in places like Surat, Mumbai, Pune, and Hyderabad by FY24," he added. The fashion brand started its journey as a B2B player in 2019. It expects a revenue of Rs 250 crore in the current fiscal. "We did Rs 11 crores in FY21 in terms of net revenue, in year two we did Rs 44 crores in revenue (FY22). In our third year, we closed at Rs 110 crore in FY23 and this year we should close at Rs 250 crore," he said. The company launched their app about two years ago with over two million downloads of the app and 55 per cent of the revenue coming through the same, Dungarwal said. We've acquired about 1.5 million customers till now, and our target is to reach a sort of 25 million plus consumers in the next four years, he added. The bootstrapped company plans an IPO by FY29, Dungarwal said.

You Searched For "FY29" and got 6 results

Digital payments in India to grow threefold—from 159 billion in FY24 to 481 billion by FY29: PwC

ANI

KV Kamath says digital economy can contribute 25% GDP by FY29

PTI

India's power sector to rise 2.2x, defence sector to grow at 13% CAGR by 2030

BI India Bureau

RBI is working on expanding UPI to 20 countries by 2028-29: RBI Annual Report

ANI

All you need to know about Brainbees Solutions IPO: Should you subscribe or not?

Ira Alok Puranik

Fashion brand Snitch looks to open 7-8 offline stores in FY24

PTI

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