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India's retail inflation is projected to surge to 6.15% in October, exceeding the Reserve Bank of India's (RBI) tolerance threshold of 6%, according to a new report by Union Bank of India. The spike is attributed to persistent <keyword id="21013592" type="General" weightage="20" keywordseo="food-price-pressures" source="keywords">food price pressures</keyword> and the waning of favorable base effects from the previous year. Earlier this month, RBI governor Shaktikanta Das also echoed similar sentiments and noted that the inflation print for October 2024 could stay well above 5.5%. This is why, as Das highlighted, cutting interest rates as early as December would be very early and premature The <keyword id="19999655" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="keywords">Consumer Price Index</keyword> (CPI) data for October, which will be released at 4 pm on Tuesday, as opposed to the previous practice of releasing this data at 5:30 pm on the 12th of every month, follows September's inflation reading of 5.49%, up from 3.65% in August 2024. The last time inflation breached the RBI's upper limit was in August 2023. Despite the RBI's anticipation of an October inflation "hump," the Union Bank report suggests that the magnitude of the increase might raise concerns, particularly as November's figures are also tracking at elevated levels. The bank maintains its forecast of unchanged interest rates in December's monetary policy meeting, with a modest 50 basis points rate cut cycle predicted to begin in February 2025. Food inflation remains a key driver of price pressures, with vegetables and edible oils leading the recent surge. In September 2024, India's YoY food inflation rate hit 9.24%, up from 5.66% in the month prior. However, the report projects some easing of food inflation in the January-March quarter, citing typical winter price moderation and improving prospects for rabi crops. Despite this, potential risks from food supply disruptions, imported edible oil prices, and the impact of potential trade tariff hikes will exist. The RBI, which aims to maintain retail inflation at 4%, has held the repo rate steady at 6.5% for the tenth consecutive time in its last meeting as part of its inflation containment strategy. A recent SBI report also noted that expecting rate cuts in this quarter would be immature, and easing was possible only during the first half of 2025. "Given the current estimates of FY25 real GDP growth at 7.2% and CPI at 4.50%, the RBI would quite possibly keep policy rates stable over the coming quarter at least. Emerging trends in the growth outlook would possibly determine the timing and extent of any policy easing. With near-term CPI numbers likely to stay elevated, it’s premature to consider expectations of any easing in the December review. "However, high-frequency data do validate a softness in growth data on an incremental basis. Given the anticipated aligning of CPI closer to the target over H2, a shallow easing, if any can be a reasonable possibility over H1 of CY 25", it added.

Retail inflation expected to breach 6% mark in October, says UBI Report

The Indian cement industry is on track to reach 5.09 billion tonnes by 2028-29, driven by robust government investment in infrastructure. According to an IANS report originally attributed to Infomerics Ratings, this marks a compound annual growth rate (CAGR) of 4.9 per cent between 2024 and 2029. In 2022-23, the industry’s market size stood at 3.82 billion tonnes, with a total installed capacity of 622 million tonnes per annum (MTPA) in FY24 and production at 427 million tonnes. Notably, India contributes over 8 per cent to the world’s total installed cement capacity, highlighting its importance in the global market. Despite this, India’s per capita cement consumption is 260 kg—significantly below the global average of 540 kg—indicating substantial room for growth. Globally, the cement market is projected to grow at a CAGR of 4.3 per cent from 2024 to 2032. The sector’s expansion is fuelled by ambitious government initiatives, including an allocation of ₹11.11 lakh crore for infrastructure in FY25 and housing schemes like Pradhan Mantri Awas Yojana. The construction sector consumes 55 per cent of cement production, while public infrastructure projects account for the remainder. The industry also plays a critical role in employment, providing direct jobs to over one million people and creating downstream opportunities for about 20,000 individuals per million tonnes of cement produced. Private players dominate the sector, controlling 98 per cent of production capacity, while public sector units hold a mere 2 per cent. Domestic production meets almost all demand, with imports accounting for just 0.2 per cent of total production in FY23. However, exports have declined recently due to reduced global demand and rising competition. India currently has 341 cement manufacturing facilities, including 159 integrated large cement plants, 120 grinding units, and 62 mini cement plants. Cement production has seen steady growth, with a 7.1 per cent increase in September 2024 and a cumulative growth of 1.6 per cent between April and September of FY25, according to the Ministry of Commerce and Industry. This growth aligns with India’s overall industrial performance, which saw a 2 per cent rise in core industries in September, led by cement, steel, coal, and fertilisers. As India invests heavily in infrastructure and housing, the cement industry is set to play a pivotal role in supporting the nation’s economic and developmental goals. (with IANS inputs)

India's cement industry expected to grow to 5.09 billion tonnes by 2028-29 amid infrastructure push: Report

Last week, it was reported that India’s smartphone market is experiencing a robust growth, with shipments increasing by 3% YoY and market value rising 12%. Counterpoint’s Monthly India Smartphone Tracker research said that the growth was due to a shift towards premium smartphones. Now, these statistics certainly paint an exciting picture for brands waiitng to launch their high-end smartphones in the market. iQOO is one such brand. The smartphone company is gearing up to launch the iQOO 13, and its launch date was confirmed by its CEO recently. So, when is the smartphone launching? What could be its price? What are the expected specs? Read on as we answer all these questions for you. <h2><keyword id="23914793" type="General" weightage="100" keywordseo="iqoo-13-india" source="Orion">iQOO 13 India</keyword> launch date and expected price </h2> Nipun Maurya, iQOO India’s CEO, confirmed in a tweet that the phone will launch on December 3, 2024. In his tweet, Maurya wrote, “The countdown begins! #iQOO13 is almost here—get ready to #BeTheGOAT!” iQOO’s decision to launch the iQOO 13 in December positions it squarely against other big players like Samsung and OnePlus. This flagship is expected to compete head-on with the likes of the OnePlus 11 and the Galaxy S24, both of which are equipped with premium specs. Fans will be able to purchase the iQOO 13 via Amazon India or iQOO’s official store. It will also be available in a limited Legend Edition, with BMW-inspired blue-red color patterns, adding a unique touch to its design. Talking about the price, the phone is expected to come with a price tag of under Rs 50,000. <h2>iQOO 13 china launch </h2> The iQOO 13 was officially launched in China on October 31, 2024, featuring the newly introduced Qualcomm Snapdragon 8 Elite chipset and OriginOS 5.0. The pricing for the device starts at CNY 3,999 (around ₹47,200) for the 12GB RAM/256GB storage variant. Other configurations include a 12GB/512GB model for CNY 4,499 (₹53,100), a 16GB/256GB variant for CNY 4,299 (₹50,800), a 16GB/512GB option at CNY 4,699 (₹55,500), and the high-end 16GB/1TB model priced at CNY 5,199 (₹61,400). <h2>iQOO 13 expected specs </h2> If the India specs of the phone remain same as the phone launched in China, the iQOO 13 could come packed with impressive specs, including a 6.82-inch 2K LTPO AMOLED display with a 144Hz refresh rate and a peak brightness of 4500 nits, promising vibrant visuals for everything from gaming to streaming. The phone is said to be powered by the Snapdragon 8 Elite processor, supported by up to 16GB of RAM and a massive 1TB of storage—making it ideal for heavy multitaskers and gamers alike. Notably, iQOO is reportedly delivering serious upgrades with the iQOO 13, incorporating an ultrasonic in-display fingerprint sensor for faster and more secure unlocking. This is combined with an expected 6,150mAh battery and 120W fast charging. Coming to camera, the phone is expected to come with a triple rear camera setup with a 50MP primary sensor, a 50MP ultra-wide lens, and a 50MP telephoto lens. In the front, the phone might come with a 32MP camera will appeal to selfie lovers. In addition to this, the phone Is also expected to come with a IP68 dust and water resistance rating.

iQOO 13 is launching in India on December 3: Expected India price, specifications and all you need to know

As <keyword id="23288581" type="General" weightage="100" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> shopping kicks off, <keyword id="20402496" type="General" weightage="20" keywordseo="jewellery-sales" source="keywords">jewellery sales</keyword> have begun on a slower-than-anticipated note, likely due to both elevated <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">gold prices</keyword> and weekday timing, which has kept morning footfalls modest, a PTI report says. Jewellers are hopeful for increased customer flow starting this afternoon, with peak shopping expected after 2 p.m. <keyword id="20036537" type="General" weightage="20" keywordseo="Saiyam-Mehra" source="keywords">Saiyam Mehra</keyword>, chairman of the <keyword id="21612311" type="General" weightage="20" keywordseo="All-India-Gem-and-Jewellery-Domestic-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="All India Gem and Jewellery Domestic Council" meta.hostid="261" meta.entityid="All India Gem and Jewellery Domestic Council">All India Gem and Jewellery Domestic Council</keyword>, said that while high gold prices (around ₹81,100 per 10 grams) are expected to curb volume somewhat, they hope to match last year’s numbers in terms of value. Mehra anticipates sales volume may be similar to or slightly lower than last year’s 20 tonnes due to the sustained high prices. Being a weekday we are seeing few footfalls in the morning hours as people are going to attend office. However, we are expecting the rush from afternoon, that is 2-2.30 pm, till late evening," he told PTI. <keyword id="20398993" type="General" weightage="20" keywordseo="Saurabh-Gadgil" source="keywords">Saurabh Gadgil</keyword>, Chairman of PN Gadgil Jewellers, added that Dhanteras festivities extending into Wednesday offer a broader business window, with customer bookings showing promise despite possible dips in quantity sold. The extra shopping time could offset some of the price impact, particularly for buyers seeking smaller gold pieces or silver, which has remained steady at ₹99,500 per kg. Senco Gold and Diamonds MD Suvankar Sen noted positive weekend turnout, expecting the crowd to grow through the afternoon and into late evening. The industry anticipates late-night demand will hold strong, especially among buyers seeking traditional purchases on this auspicious day for jewellery investments. This extended buying period provides customers with more options, as jewellers focus on flexibility to accommodate high-value purchases amid record gold prices. (with PTI inputs)

Dhanteras 2024: Jewellers report slower than expected sales due to rising gold prices

iQOO is gearing up to unveil its latest flagship, the <keyword id="21843015" type="General" weightage="100" keywordseo="iQOO-13" source="keywords">iQOO 13</keyword>, in India next week. Known for delivering high-performance smartphones that cater to power users and gamers, the brand continues its tradition of closing the year with a bang. Packed with the cutting-edge <keyword id="23635775" type="General" weightage="20" keywordseo="Snapdragon-8-Elite" source="keywords">Snapdragon 8 Elite</keyword> chipset, the iQOO 13 is set to be one of the first devices in India to feature this processor, giving it an edge in the fiercely competitive flagship market. <h2><keyword id="24204536" type="General" weightage="20" keywordseo="iQOO-13-launch" source="keywords">iQOO 13 launch</keyword>: Expected specifications and features </h2> The iQOO 13 promises to be a beast in terms of hardware. Reports suggest it will sport a 6.7-inch AMOLED display with 2K resolution and a buttery-smooth 144Hz refresh rate, promising an immersive viewing and gaming experience. Under the hood, the phone is expected to house the Snapdragon 8 Elite chipset, paired with up to 16GB of RAM and 512GB of internal storage. Photography enthusiasts won’t be disappointed either, with the phone rumoured to feature a triple 50MP camera setup on the back, including primary, ultrawide, and 2x telephoto lenses. On the front, a 32MP camera is expected to handle selfies and video calls. One of the standout features could be the iQOO 13’s advanced thermal management system. The single-layer motherboard and enhanced heat dissipation technology aim to keep the device cool during intense gaming sessions. Additionally, iQOO’s proprietary Q2 chip is expected to elevate gaming performance with AI enhancements. The device is likely to pack a massive 6,150mAh battery, promising all-day usage, and support rapid charging technology. iQOO has committed to offering four years of OS updates and five years of security patches, ensuring the phone stays relevant and secure for a longer period—a significant advantage in the Android ecosystem. <h2>Expected price </h2> The iQOO 13 is expected to be priced around ₹51,999, similar to its predecessor. This positions it as a strong contender against other flagship devices, particularly the upcoming OnePlus 13, which is also set to feature the Snapdragon 8 Elite chipset and is scheduled to launch in late December or early January in India.

iQOO 13 set to launch in India next week: Expected price, specifications

<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s <keyword id="23222388" type="General" weightage="100" keywordseo="home-and-household-market" source="keywords">home and household market</keyword> is expected to reach $237 billion by 2030 at a compounded annual growth rate (CAGR) of over 10 %, fueled by increasing disposable income, shifting consumer preferences and a growing focus on comfort and convenience across product categories, according to a report by Deloitte. The report titled "Powering Consumption Growth-India's Home and House Market", was launched at the two-day event MAPIC India 2024. It also said that the home and household market are witnessing strong demand, particularly in tier 2 and tier 3 cities that are emerging as growth hubs. It also said that omnichannel retail and e-commerce are helping businesses connect with consumers, expanding their reach beyond urban centres. Stating that factors such as high disposable incomes, the rise of digital platforms, easy access to credit, and young consumers seeking modern designs, home renovations and personalisation, which provide tailored offerings to consumers, are driving the demand. While the home and household industry are expanding rapidly, there are still limitations to overcome. After-sales support, warranty worries and the need for a comprehensive omnichannel strategy are all significant issues for businesses to handle. Per the report, India's home and household market is witnessing a remarkable evolution, where consumers are gravitating towards premium and branded products, and businesses are increasingly adopting a consumer-first approach. There is a deeper focus on <keyword id="20770439" type="General" weightage="20" keywordseo="consumer-experiences" source="keywords">consumer experiences</keyword> and design-led product innovation," said Anand Ramanathan, Partner for consumer products and retail sector leader at Deloitte India. Social media and advanced technologies enable companies to precisely target and engage their audiences, making the market more dynamic and responsive to changing needs, according to him. According to the report, sustainability is becoming a central concern for Indian consumers, with rising demand for energy-efficient appliances and eco-friendly kitchenware and amid this manufacturers are increasingly investing in water-saving bathroom fittings, sustainable kitchen solutions and energy-efficient technologies to cater to eco-conscious consumers. This trend, coupled with government policies such as the PLI scheme, Pradhan Mantri Awas Yojana, SMC, UJALA and <keyword id="20809694" type="General" weightage="20" keywordseo="pm-mitra" source="keywords">PM Mitra</keyword>, is driving demand and attracting investments in the home and household sector, it said. To stay ahead, companies must embrace emerging trends like quick commerce, rethink their operating models and integrate innovation across the value chain from products to post-sales services, it stated.

India's home & household market expected to reach $237 billion by 2030, highlights Deloitte report

When it comes to smartphones, there are a few brands that have established themselves in the market and <keyword id="19900518" type="General" weightage="20" keywordseo="OnePlus" source="keywords" meta.keywordsubtype="org" meta.entityname="OnePlus" meta.hostid="261" meta.entityid="OnePlus">OnePlus</keyword> is one of them. The smartphone maker has carved a niche for itself in the industry over the years and its name is often associated with reliability. Now, as per latest reports, <keyword id="24155009" type="General" weightage="100" keywordseo="OnePlus-13R" source="keywords">OnePlus 13R</keyword> is all set to make its debut in India soon. According to a report in GSM Arena, the company is set to release its <keyword id="24224578" type="General" weightage="20" keywordseo="Ace-5-series" source="keywords">Ace 5 series</keyword> in China, with one of the models expected to make its way to global markets under the name OnePlus 13R. The phone will launch in China next month and is expected to make its debut in India in January 2025. <h4>A glimpse at the upcoming OnePlus 13R</h4><h4></h4>The OnePlus 13R, likely to be a rebranded Ace 5, is shaping up to be a powerful addition to the smartphone market. Reports suggest it will be powered by the cutting-edge <keyword id="20182185" type="General" weightage="20" keywordseo="Snapdragon-8-Gen-3" source="keywords">Snapdragon 8 Gen 3</keyword> chipset, paired with a stunning <keyword id="24224579" type="General" weightage="20" keywordseo="6-78-inch-AMOLED-display" source="keywords">6.78-inch AMOLED display</keyword> boasting 1.5K resolution. A trio of cameras on the back – including a 50MP primary sensor, an 8MP ultra-wide lens, and a 2MP macro camera – promises versatility for photography lovers. Battery life looks impressive, with the 13R rumoured to house a 6,500mAh powerhouse supporting <keyword id="24224580" type="General" weightage="20" keywordseo="100W-fast-charging" source="keywords">100W fast charging</keyword>. Leaked renders hint at a sleek and durable design, featuring a flat screen and premium materials. Meanwhile, the Ace 5 Pro, which will reportedly remain exclusive to China, will pack the Snapdragon 8 Elite chip – the same processor as the flagship OnePlus 13. Expected features include a telephoto camera and a slightly smaller battery than the Ace 5, but still substantial at over 6,200mAh. <h4>What else to expect?</h4><h4></h4>Rumours also point to the launch of a next-generation OnePlus Watch alongside the new smartphones. The anticipated <keyword id="24224583" type="General" weightage="20" keywordseo="OnePlus-Watch-3" source="keywords">OnePlus Watch 3</keyword> is expected to combine Google’s WearOS with a power-saving mode powered by a secondary operating system. Durable with an IP68 rating, it could cater to both tech lovers and fitness enthusiasts. With the global release of the OnePlus 13R expected in January 2025, fans worldwide won’t have to wait long to experience OnePlus’s latest innovations. Whether it’s the premium design, powerful specs, or new features, the December launch is likely to set the stage for an exciting year ahead in mobile technology.

OnePlus 13R expected to launch in India soon, here is everything we know

New Delhi: India's fossil fuel emissions are projected to rise by 4.6 per cent in 2024, while China could see a marginal rise of 0.2 per cent, according to new research by a group of international scientists. As the UN climate conference in Baku, Azerbaijan, discussed raising trillions of dollars to tackle <keyword id="19907392" type="General" weightage="20" keywordseo="Climate-change" source="keywords">climate change</keyword>, the group of scientists known as the "Global Carbon Project" warned that emissions from fossil fuels -- the main driver of warming -- could hit a record 37.4 billion tonnes in 2024, up 0.8 percent from 2023 levels. This comes despite rapid growth in renewable energy and a landmark agreement at COP28 in Dubai last year to move away from fossil fuels. The "<keyword id="23948569" type="General" weightage="20" keywordseo="Global-carbon-budget-2024" source="keywords">Global Carbon Budget 2024</keyword>" report said total global CO2 emissions are set to go up from 40.6 billion tons in 2023 to 41.6 billion metric tons in 2024, which is on course to become the warmest year on record. "The impacts of climate change are becoming increasingly dramatic, yet we still see no sign that burning of fossil fuels has peaked," Professor Pierre Friedlingstein of Exeter's Global Systems Institute, who led the study, said. The 'Global Carbon Project' team said India, the world's most populous country and fastest-growing major economy, may see its fossil fuel emissions rise by 4.6 percent. According to a UN report released last month, India's greenhouse gas emissions surged by 6.1 per cent in 2023, contributing to 8 per cent of the global total. However, the country's historical contribution to global CO2 emissions stands at only 3 per cent. India's per capita emissions remain low at 2.9 tons of CO2 equivalent (tCO2e), far below the global average of 6.6 tCO2e. India, the world's third-largest greenhouse gas emitter, has pledged to reach net zero emissions (balancing emissions with removals) by 2070 and aims to achieve 500 gigawatts of renewable energy capacity by 2030. China's emissions, which make up 32 per cent of the global total, are likely to increase slightly by 0.2 per cent, though there is a chance they could decline, according to the data released on Wednesday. Emissions from the United States and the European Union, which contribute 13 per cent and 7 per cent of the global total, are both set to decline, with drops of 0.6 per cent for the US and 3.8 per cent for the EU. Emissions from the rest of the world, which together account for 38 per cent of global emissions, could see a rise of 1.1 per cent. The researchers said that in 2024, coal emissions will likely increase by 0.2 per cent, oil by 0.9 per cent, and gas by 2.4 per cent, globally. Coal, oil, and gas contribute 41 per cent, 32 per cent, and 21 per cent of global fossil CO2 emissions, respectively. However, given the uncertainty in projections, it remains possible that coal emissions could decline in 2024, they said. The report also pointed out that emissions from international aviation and shipping, which account for 3 per cent of global emissions and are tracked separately from national or regional totals, are expected to rise by 7.8 per cent in 2024. However, these emissions will still be 3.5 per cent below the 2019 pre-pandemic levels. Globally, emissions from land-use changes, like deforestation, have dropped by 20 per cent over the past decade but are expected to rise in 2024. Permanent CO2 removal through reforestation and new forest planting now offsets about half of the emissions from permanent deforestation, they added. Technology-based CO2 removal accounts for only a tiny fraction -- around one-millionth -- of CO2 emissions from fossil fuels. The report said that emissions from fires in 2024 have been above the average since the beginning of the satellite record in 2003, particularly due to the extreme 2023 wildfire season in Canada (which continued into 2024) and severe drought in Brazil. Land and ocean carbon sinks continued to absorb around half of the total carbon emissions, despite being negatively affected by climate change.

Global fossil emissions to reach record high in 2024; India's share to rise by 4.6 pc: Report

India remains highly dependent on imports for minerals critical to accelerating its <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword>, with a full reliance on shipping in lithium, cobalt and nickel, according to a report released Monday. The report, published by the Institute for Energy Economics and Financial Analysis (IEEFA), said that India's demand for <keyword id="19978839" type="General" weightage="20" keywordseo="critical-minerals" source="keywords">critical minerals</keyword> is expected to more than double by 2030, while domestic mining operations may take over a decade to start producing. It stresses that India needs a carefully crafted import strategy to mitigate potential trade risks while balancing international relationships to secure these essential minerals. IEEFA's report examines five critical minerals (and their compounds) - cobalt, copper, graphite, lithium and nickel - from the perspectives of import dependency, trade dynamics, domestic availability, and global price fluctuations. The findings show that India remains largely import-dependent for these minerals and their compounds, with 100 per cent import reliance for minerals like lithium, cobalt, and nickel. "India should strive to de-risk its critical minerals sourcing by identifying new international resources and expediting <keyword id="20681115" type="General" weightage="20" keywordseo="domestic-production" source="keywords">domestic production</keyword>. A concerted effort to partner with and foster bilateral relations with <keyword id="23713985" type="General" weightage="20" keywordseo="mineral-rich-nations" source="keywords">mineral-rich nations</keyword> should be a priority for India," said the report's co-author Charith Konda, Energy Specialist, IEEFA. "The country can also explore investment opportunities in resource-rich, friendly nations, such as Australia and Chile, as well as African countries like Ghana and South Africa," he added. The report said India depends heavily on China for synthetic graphite and natural graphite and it should explore cooperation initiatives with countries like Mozambique, Madagascar, Brazil and Tanzania which are some of the highest graphite producing countries. "As part of the Global South cooperation initiatives, these countries could be favourable partners for India for <keyword id="23713984" type="General" weightage="20" keywordseo="graphite-trading" source="keywords">graphite trading</keyword>," said the report's co-author Kaira Rakheja, Energy Analyst, IEEFA. India is also highly import-dependent for copper cathodes and nickel sulphates from just two countries - Japan and Belgium. The report suggests India could look at the US, the fifth largest producer of copper in the world, to diversify its suppliers and enhance <keyword id="23714709" type="General" weightage="20" keywordseo="supply-security" source="keywords">supply security</keyword>. For minerals like lithium oxide and nickel oxide, the dependency is low on one country, but overall imports largely come from Russia and China, both countries with potential trade risks. "Developing domestic lithium refining capacity will help India integrate with the global lithium supply chain," said Rakheja. The report also notes the significant efforts that the Indian government is making to improve domestic production of critical minerals with the auctions by the Ministry of Mines and the planned Critical Minerals Mission. "The critical minerals mining block auctions can serve as an opportunity for India to focus on building refining and processing capabilities to emerge as a global value-adding hub," said Rakheja. "Government support in the form of viability gap funding and technology development will help promote such auctions and ultimately the domestic production of critical minerals. "A stable supply of critical minerals is imperative for India to achieve its <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> goals," Konda said. India has committed to achieving 500 gigawatts (GW) of non-fossil fuel-based electricity installed capacity by 2030. Currently, the country's renewable energy installed capacity stands at 201 GW, with solar energy accounting for 91 GW. According to another study, the fast-developing South Asian nation needs to install around 7,000 GW of renewable energy capacity to achieve net-zero emissions by 2070.

Energy transition: India remains highly dependent on imports of critical minerals, says report

As the vibrant <keyword id="19896655" type="General" weightage="20" keywordseo="wedding-season" source="keywords">wedding season</keyword> kicks off in India soon, the <keyword id="19921618" type="General" weightage="20" keywordseo="Confederation-of-All-India-Traders" source="keywords" meta.keywordsubtype="org" meta.entityname="Confederation of All India Traders" meta.hostid="261" meta.entityid="Confederation of All India Traders">Confederation of All India Traders</keyword> (<keyword id="20143308" type="General" weightage="20" keywordseo="CAIT" source="keywords" meta.keywordsubtype="org" meta.entityname="CAIT" meta.hostid="261" meta.entityid="CAIT">CAIT</keyword>) has set an optimistic forecast, projecting a windfall for the nation’s economy. According to a recent CNBC report, CAIT predicts that this year, an estimated 48 lakh weddings are expected to take place in November and December, potentially generating a whopping ₹6 lakh crore in business. This surge reflects not just the volume of weddings but the wide-scale economic impact that accompanies such celebrations. Weddings in India are known for their grandeur, with celebrations often spanning several days and involving a number of services, from event planning and catering to jewellery purchases and attire. CAIT’s recent prediction, thus, underscores the vital role that the wedding season plays in the retail market. In this year’s cycle, the retail sector alone is poised to see a turnover of ₹5.9 lakh crore, highlighting the deep interconnectedness between cultural traditions and economic activity. In Delhi, which stands as one of the top locations for extravagant weddings, the expected impact is particularly significant. Approximately 4.5 lakh weddings are projected in the capital city, potentially contributing around ₹1.5 lakh crore to the local economy. This surge benefits a variety of sectors, including hospitality, fashion, gold and jewellery, and even technology, as digital services and e-invitations become more prevalent. The build-up to this wedding season has already shown signs of economic revival, particularly in sectors like gold and jewellery. Suvankar Sen, MD &amp; CEO of Senco Gold, noted a marked increase in wedding-related purchases during the recent Dhanteras festival. Speaking in an interview with CNBC TV-18, Sen highlighted that the August duty cut on gold played a significant role in spurring early buying behaviour. He pointed out that this policy move helped lower the cost of gold, enticing consumers to make significant purchases ahead of the peak wedding months. "We can see at least 40-50% of the consumers who are buying right now are related to weddings, and the 40-50% who are not related to weddings, are divided amongst consumers with a budget of ₹2-3 lakh buying some kind of jewellery as an annual buying during this auspicious time. Some consumers are buying working women's jewellery or lightweight for their daughters, something within ₹50,000 to ₹1 lakh kind of buying happening. ₹20,000-30,000 is a budget consumer at all levels, some kind of a pendant, ring or earring that everyone would like to buy during this auspicious time. So, this is how we are seeing the consumer," he added. This early momentum has translated into packed showrooms and increased consumer spending, signalling a robust start to wedding-related commerce. Retailers across India are now preparing for a flurry of activity, restocking inventory and expanding service offerings to meet the anticipated demand. From wedding attire and décor to luxury items like high-end electronics and custom-made invitations, the shopping lists are extensive, promising a lucrative time for businesses. While traditional sectors such as fashion, catering, and venue rentals will see a boom, new trends have also emerged, expanding the <keyword id="23787664" type="General" weightage="20" keywordseo="wedding-economy" source="keywords">wedding economy</keyword>. The demand for eco-friendly and sustainable wedding practices has grown, with couples seeking biodegradable décor and eco-conscious catering services.

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Retail inflation expected to breach 6% mark in October, says UBI Report

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India's cement industry expected to grow to 5.09 billion tonnes by 2028-29 amid infrastructure push: Report

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iQOO 13 is launching in India on December 3: Expected India price, specifications and all you need to know

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Dhanteras 2024: Jewellers report slower than expected sales due to rising gold prices

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iQOO 13 set to launch in India next week: Expected price, specifications

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India's home & household market expected to reach $237 billion by 2030, highlights Deloitte report

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OnePlus 13R expected to launch in India soon, here is everything we know

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Global fossil emissions to reach record high in 2024; India's share to rise by 4.6 pc: Report

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Energy transition: India remains highly dependent on imports of critical minerals, says report

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Indian weddings expected to generate ₹6 lakh crore in two months, CAIT says

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