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India's economy is expected to grow at 7-7.2 per cent in the current fiscal year driven by robust economic fundamentals and continuity in domestic policy reforms, <keyword id="20006170" type="General" weightage="100" keywordseo="Deloitte-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Deloitte India" meta.hostid="261" meta.entityid="Deloitte India">Deloitte India</keyword> said on Monday. The August update of <keyword id="19896400" type="General" weightage="20" keywordseo="deloitte" source="keywords">Deloitte</keyword>'s India Economic Outlook said several initiatives in the <keyword id="19908389" type="General" weightage="20" keywordseo="union-budget" source="keywords">Union Budget</keyword> 2024-25 toward improving agriculture productivity, creating jobs for the youth, and in manufacturing and addressing the challenge of access to finance for micro, small, and medium enterprises (MSMEs), would help improve supply-side demand, curb inflation, and prop up <keyword id="20139791" type="General" weightage="20" keywordseo="consumer-spending" source="keywords">consumer spending</keyword>, especially in rural areas. Deloitte India Economist Rumki Majumdar said, India will witness robust growth in the second half after a period of uncertainty in the first six months of the year. "Key contributing factors include the continuity in domestic policy reforms, reduced uncertainties in the US post-elections, and more synchronous global growth within a low inflation regime. "Additionally, improved global liquidity conditions, as central banks in the West ease their monetary policy stance, will enhance capital flows and drive higher investments, particularly in the private sector," Majumdar said. Observing that strong economic fundamentals would drive <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> between 7 per cent and 7.2 per cent in FY25, the Economic Outlook report said effectively addressing the urban-rural consumer spending gaps, inflation, and employment concerns can significantly enhance the affordability of aspirational rural consumers. "The much-desirable policy pivot was evident in the Union Budget presented last month. Reducing the urban and rural spending gap in the coming years will ensure sustained consumer demand from a larger consumer base," it added. Deloitte India's growth projection is at par with that of RBI, which projected FY'25 growth at 7.2 per cent. It is higher than Finance Ministry's Economic Survey which estimated GDP expansion between 6.5-7 per cent. The <keyword id="19948184" type="General" weightage="20" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> grew at 8.2 per cent in 2023-24 fiscal year. The report further said despite strong growth, private consumption spending has remained modest over the past five years. The pandemic, high global and domestic inflation, consequent tightening of financial conditions, and the effects of poor agriculture output on rural demand seem to have capped private consumption growth in India. But a Deloitte research showed that India is witnessing distinct and broad-based shifts in consumption patterns. There is a broad-based shift in the composition of consumption towards more non-food and discretionary items, reflecting changing lifestyles and preferences that are here to stay. According to the Household Consumption Expenditure Survey, spending on discretionary goods and services (including conveyance) has gone up both in rural and urban India, with the former quickly catching up in spending on discretionary durable goods (including automobiles, electric and electronic goods) with the latter in just one decade. "Demand for processed food has been among the highest in most states, suggesting a shift towards ready-to-eat options. Rapid urbanization, increasing women's participation in the workforce, and enhanced marketing and availability are driving these changing dietary habits," the report said. According to Deloitte research, if increasing income in states results in a relatively equitable distribution and higher rural spending, businesses can tap into a larger proportion of the state's population that resides in rural areas. This gives businesses access to a large consumer base and a sustainable consumer spending demand, as compared to states with a widening gap.

Indian economy likely to grow at 7-7.2 percent in FY25,Deloitte India says

India's GDP growth is projected at 7.2 per cent in 2024-25, around 7 per cent in the next fiscal, and after that, there is a strong likelihood that the growth will revert to the 8 per cent trend, said <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="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> deputy governor <keyword id="20244361" type="General" weightage="20" keywordseo="Michael-Debabrata-Patra" source="keywords">Michael Debabrata Patra</keyword>. He was speaking at the New York Fed Central Banking Seminar organised by the <keyword id="20238413" type="General" weightage="20" keywordseo="Federal-Reserve-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Federal Reserve Bank" meta.hostid="261" meta.entityid="Federal Reserve Bank">Federal Reserve Bank</keyword> here on Monday. "...I do believe with all the strength of my conviction that India's time has come," he said, and highlighted the country heads into its future with the youngest population in the world with a median age of 28 years. Unlike in many parts of the world, the working age population is growing -- every sixth working age person is an Indian. Patra said that since independence in 1947, India's growth path has undergone three structural shifts with trend growth, having risen to 7 per cent during 2002-2019. After the severe contraction during the pandemic, a new growth trajectory averaging 8 per cent seems to be forming during 2021-24, he said. India is now regarded as the fastest growing major economy in the world. Already the fifth largest economy in terms of market exchange rates, it is poised to become the third largest economy by 2030, the senior RBI official said and added the country is already the third largest economy in terms of <keyword id="20776921" type="General" weightage="20" keywordseo="purchasing-power-parity" source="keywords">purchasing power parity</keyword>. "Our projections show that India's <keyword id="21013593" type="General" weightage="20" keywordseo="real-GDP-growth" source="keywords">real GDP growth</keyword> will be 7.2 per cent in 2024-25 and around 7.0 per cent in 2025-26 in a cyclical correction to the rebound from the pandemic. Thereafter, there is a strong likelihood that India's growth will revert to the 8 per cent trend," Patra said. On inflation, he said it is projected to average 4.5 per cent in 2024-25 and 4.1 per cent in 2025-26. Consumer Price Index (CPI) based inflation fell below target during July-August but rose to 5.5 per cent in September on the back of a pickup in price momentum in some food items and adverse base effects inherent in year-on-year measurement. "Our projection indicates that these price pressures will persist in October and November before headline inflation realigns with the target from December 2024 and remains aligned in 2025-26," the deputy governor said. He also emphasised that India is emerging as a world leader in leveraging <keyword id="20181895" type="General" weightage="20" keywordseo="digital-technologies" source="keywords">digital technologies</keyword> for transformative change.

India likely to grow at 7.2% in FY25, says RBI deputy governor

Foreign Institutional Investors (FIIs) have been rapidly exiting Indian markets, and this high-speed exodus does not look like it will stop anytime soon. In October 2024, FIIs withdrew Rs 1,14,445.89 crores from Indian markets. Yesterday, FIIs withdrew $770.67 million from the markets, with equity outflows of $440.86 million and debt outflows standing at $327.44 million across various categories. Per NSDL data, hybrid outflows amounted to $2.31 million. While this may sound dissuading at first, a recent SBI report underlined that FIIs still hold a massive $ 18.241 billion in Indian markets. So far, FY25 has seen FII inflows worth $ 8.924 billion. However, the situation may quickly turn alarming as well, given that FII holdings in Indian equities have already come down to a 12-year low. Says Anirudh Garg, Partner and Fund Manager at Invasset PMS, "The current valuation of Indian stocks, trading at around 24 times expected earnings, appears high compared to Chinese stocks, which are at approximately 10 times. Economic concerns, including weak corporate earnings and declining consumer demand, further exacerbate this situation. Additionally, renewed fears of inflation and potential monetary tightening by central banks have led FIIs to withdraw from the Indian market." In the meantime, DIIs (domestic institutional investors) are stepping in big time. During October 2024, DIIs infused Rs 1,07,254.68 crore in Indian markets. In November so far, DIIs have been keeping the fund momentum going, infusing Rs 12,265.74 crore in India, while FIIs have offloaded Rs 16,445.49 crore this month. But despite this strong uptick, SBI's recent report suggests that consumer confidence in India remains below 100, signaling muted positivity and optimism in the economy. While household consumption is gradually recovering, it grew at 4% last year, much below the 7% levels recorded pre-pandemic. <h2>FII share in <keyword id="20868945" type="General" weightage="20" keywordseo="NSE-listed-companies" source="keywords">NSE-listed companies</keyword> takes a dip, DII stake rise </h2>FIIs share in NSE-listed companies stood at 15.98% in October, with assets under their custody in the equity segment coming to Rs 71.08 lakh crore last month. In September, this stood at Rs 77.96 crore. Experts suggest that this is likely to continue for some time to come. Mutual funds, on the other hand, saw their share in NSE-listed companies hit a record high of 9.58%, as opposed to their 9.32% stake in September 2024. FIIs turned net sellers in the debt segment as well in October, dumping $771 million in Indian markets. This comes after 2 consecutive months of healthy inflows in this segment in August and September 2024, where the figures stood at $2,806 million and $2,295 million, respectively.

FII stake in Indian equities dips to a 12-year low

<ul class="summary-list"><li>Antler India plans to invest in 120 startups over four years with a $75 million fund.</li><li>The firm runs cohorts for individual founders and teams, selecting 100 from up to 5,000 applicants.</li></ul>This as-told-to essay is based on a conversation with Rajiv Srivatsa, a partner at Antler India, a <a target="_blank" class="" href="https://www.businessinsider.com/founders-putting-startup-dreams-on-hold-in-the-tech-downturn-2024-7">pre-seed venture capital firm</a> based in Bengaluru. It has been edited for length and clarity.I'm a <a target="_blank" class="" href="https://www.businessinsider.com/landed-vc-job-varied-resume-diverse-experience-resume-2024-8">partner</a> at Antler India, an early-stage <a target="_blank" class="" href="https://www.businessinsider.com/startup-success-secret-vcs-founders-nate-silver-on-the-edge-2024-8">venture capital</a> fund. We launched the India chapter about four years ago, and it was the firm's sixth location globally. Antler India has a $75 million fund, which we closed in March.Our plan is to invest in 120 <a target="_blank" class="" href="https://www.businessinsider.com/more-startups-get-bought-up-by-private-equity-vc-2024-8">startups </a>over four years, and we have about 65 to date.The classic Antler model includes running a <a target="_blank" class="" href="https://www.businessinsider.com/top-vc-firms-funding-creator-economy-startups-next-phase-2024-6">cohort of individuals </a>who are transitioning from being employees to startup founders. We help them look for their cofounders and give shape to their idea.One thing we do differently in India is we run a cohort for teams as well. We found that there is a social tendency for people to prefer going into business with people they have known from college or work, and we welcome founders who may already have a team or product in mind.My team and I receive about <a target="_blank" class="" href="https://www.businessinsider.com/how-to-apply-y-combinator-application-down-market-successful-2022-8">4,000 to 5,000 applications</a>, and we select 100 people to join our individual founders' cohort. The program runs for six months, and we end up investing in 20-25 people, or eight to 10 companies. We give them a sum of $250,000 to fund their idea, and another $250,000 once they raise additional capital.I've been a founder myself and have run a company in the 2010s. I have seen two main positive shifts in the Indian startup market.It is a lot easier to attract talent than it was 10 years ago. There was a lot of entitlement and questioning from potential employees, because working for startups instead of long-established companies was seen as a risk. Since the pandemic, there has been a shift, and people are keen to join startups.Founders are getting more mature by the year and have a better understanding of what it takes.They're more frugal because they know capital is tight and they have given their industry more thought. They're not getting into business because something is hot and are instead building for the next five to 10 years. They also assume that their products will need higher traction to raise the same amount of money that would have been invested in them before.Here are five things I look for in <a target="_blank" class="" href="https://www.businessinsider.com/sequoia-partner-jess-lee-advice-for-startup-founders-2022-9">first-time founders</a>:<h2 id="5a01f9b1-7907-4c47-aa10-ead284c40a4d">Five founder traits</h2>Execution and strategy: This is their ability to iterate fast — move between ideas, drop things, and find something new quickly.We also seek people who have ideas that match their skill sets. For example, we don't want to invest in an AI company where none of the founders have solid tech expertise. In the early or "zero to one" and "one to 10" stages, founders have to be able to do things on their own.Grit and tenacity: Either in their personal life or professional life.Customer obsession: We spend the longest time gauging how obsessed a founder is with their customer and problem statement. We want to know if it's just a flash in the pan or if it's something they have been debating over many years. Does the founder really feel the pain of the customer?We want people who are not just armchair experts but have worked with customers and gotten their hands dirty. Someone who has spent their professional life making presentations and in conference rooms may not cut it.Communication: Another thing we look for is a high level of clarity in thinking and how they communicate. At the end of the day, venture capital is a continuous fundraising game — you have to always keep finding good talent, as well as keep telling new investors and the media your story.We try to gauge if the person is getting mixed up, or if they're clear about what they're doing.Ambition and scale: The venture capital industry does not work if you want small outcomes. Even if you don't want to be a unicorn, a startup that is valued at $1 billion, you still need to think in terms of hundreds of millions of dollars of valuation and foresee hundreds of millions of people using your product.<h2 id="019aa888-dfdf-4ac4-bda4-422664c1e934">Plus an X-factor</h2>We don't look for people who score about 80% to 100% on each of these criteria. Instead, we prefer if, for one to two of the five traits, they demonstrate a spike or an X factor — they immediately stand out as someone who is world-class when it comes to execution or communication, for example.We want people who are terrible at some things but exceptional at others.<h2 id="e8cf18ff-f29f-4d97-9753-7fe9d1705a42">Cofounder complements</h2>Most of our participants look for their cofounders after they've entered the cohort, and we spend a lot of time and attention matching people.In my experience, India is not a country where teaching communication is emphasized a lot, so we ask each participant 60 questions to understand their values, working styles, and personality types. We look for complements and see pair-ups between one person with a technical background and one person with business acumen. If a third cofounder is needed, they usually come with operations expertise.One company we recently funded is working on listening to conversations between employees and customers in retail stores, in order to provide retail data to convert more customers. It was the outcome of someone who has worked in retail for years, paired up with a cofounder with tech background.Are you a founder who moved to India to launch their own startup? Please reach out at shubhangigoel@insider.com

I'm a VC in the world's fastest-growing economy. I look for 5 traits in first-time founders.

<ul><li>Resumption of international travels, conferences, G20 meets, and weddings are driving demand for hotels, say analysts.</li><li>The demand for leisure travel has also sustained, analysts say.</li><li>Mumbai, Delhi and Bangalore are likely to lead revenue per available room (RevPAR) growth, said a report by Nuvama Institutional Equities.</li></ul>The <keyword id="46343" type="General" weightage="20" keywordseo="hotel-industry" source="Orion">hotel industry</keyword>, which has been recovering from its pandemic lows for the last few months, is expected to post record earnings in the January-to-March quarter, expect analysts. “Q4FY23 will be a record quarter owing to a sustained travel surge, bunched-up weddings and normalisation of international travel,” said analysts at Nuvama Institutional Equities. Analysts say that the hotel industry has been in a recovery zone ever since the opening up of the economy with resumption of international travels owing to social events and corporate events. “Leisure was the first segment to pick up during recovery; this hasn’t stalled or waned even after the economy opened up. International travel resumed as there were social events, corporate events and MICE. There is no slowdown in demand currently,” said the report. More boost from G20 events In spite of a good showing ever since the lockdowns ended, there is scope for more growth hereon, expect analysts. “We believe, on the high base that the sector is at, incremental demand and supply shall be in sync, normalising rate movements. Key upside could come from sustained demand for leisure travel, normalising international travel and events such as the <keyword id="42982" type="General" weightage="20" keywordseo="g20-summit" source="Orion">G20 summit</keyword>,” said the Nuvama report. Based on the G20 calendar, there are several events scheduled in March and April 2023 to be held in cities like Amritsar, Gandhinagar, Mumbai, Chennai, Udaipur, Visakhapatnam, Darjeeling, Guwahati, Hyderabad, Kumarakom, Goa, Varanasi, and Bhubaneswar. The G20 holds annual summits where leaders from member countries gather to discuss global economic issues. India holds the G20 presidency this year. From a high base In fact, the strong performance of hotel companies in the December quarter reflects a strong uptick in demand. Tata group hospitality firm Indian Hotels Company’s net profit in Q3 jumped four times to all-time high at ₹383 crore on the back of robust demand. “Buoyed by a strong demand in the third quarter, both leisure and business hotels in key domestic markets reported occupancy of over 70% and a rate growth of 27% as compared to pre-Covid levels,” said Indian Hotels Company in an exchange filing. Adding to it, even Lemon Tree in Q3 reported a significant jump in net profit, which rose to ₹48.6 crore as against a loss of ₹5.2 crore in the same period last year. Mumbai, Delhi and Bangalore to lead regional growth for the industry Analysts say that the demand outlook for the sector in 2023 will remain robust on the back of events such as world cup hockey and cricket, apart from the ongoing G20. It will also bode well for more price increases this year. “For CY23, companies are budgeting average room rate (ARR) growth of 5–10% with a 2–5% increase in occupancies,” said a report by Nuvama Institutional Equities. R<a href="https://www.businesstoday.in/latest/corporate/story/hotel-prices-in-india-rise-15-20-so-far-in-2023-heres-why-370227-2023-02-14">eports </a>say that hotel prices across destinations have risen in the last few months due to wedding season, return of <keyword id="575625" type="General" weightage="20" keywordseo="corporate-travel" source="Orion">corporate travel</keyword> and events. It states that most cities have bounced back growth from pre-Covid levels. The report said that Mumbai, Delhi and Bangalore are likely to lead revenue per available room (RevPAR) growth. Added to that, the report also says that tier-2 and tier-3 cities have seen a fair amount of growth too. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbis-mpc-could-pause-rate-hikes-in-april-to-gauge-the-impact-of-hikes-so-far-sbi-research/articleshow/99030220.cms">RBI’s MPC could pause rate hikes in April to gauge the impact of hikes so far: SBI Research</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indian-housing-market-stays-strong-despite-global-headwinds-anarock-research/articleshow/99030280.cms">Indian housing market stays strong despite global headwinds: Anarock Research</a>

Hotel industry bounces back after three years into the pandemic

The Indian commercial vehicle (CV) industry is set to log growth for the next couple of years with <keyword id="15410618" type="General" weightage="20" keywordseo="economy-reviving" source="Orion">economy reviving</keyword> and Covid-19 <keyword id="15410619" type="General" weightage="20" keywordseo="pandemic-fading-away" source="Orion">pandemic fading away</keyword>, said experts. The <keyword id="11045519" type="General" weightage="20" keywordseo="CV-sector" source="Orion">CV sector</keyword> will register mid-to-high teens over the next couple of years, said Fitch Ratings in a report. The sector recovered 26 per cent in the fiscal 2021-22 after being hit by Covid-19. During the current fiscal, the CV majors are logging good growth driven mostly by goods carriers while sales of buses is also picking up. According to Emkay Global Financial Services, the CV sector maintains its uptrend, supported by improved freight availability. On a year-on-year (YoY) basis, domestic volumes grew by 39 per cent for Mahindra and Mahindra, 38 per cent for Ashok Leyland, 14 per cent for VE Commercial Vehicles Ltd and 0.3 per cent for Tata Motors. A recovery in medium and heavy commercial vehicle (MHCV) from multi-year lows, along with sustained growth in light commercial vehicle (LCV) categories, will help overall segment volume reach close to one million units by FY24 - the level of the last cyclical peak recorded in FY19, Fitch Ratings said. Growth in the passenger CV category, which experienced a sharper pandemic impact due to travel restrictions and the suspension of school and office commutes, will also aid growth. However, their share will be below 15 per cent of the overall CV volume, Fitch Ratings added. A rapid recovery in India's economic activity after the pandemic shock and the government's planned increase in infrastructure spending will help sustain an improvement in fleet utilisation rates, supporting freight economics for operators. This should aid the revival of the replacement cycle, notwithstanding pressure from high inflation and a rise in borrowing rates since the start of the Russia-Ukraine war. According to Fitch Ratings, high fuel rates will also spur replacement of older CVs with new, more energy-efficient vehicles, including those with compressed natural gas drivetrains in the smaller categories. Improving earnings visibility for fleet operators, along with manageable asset quality and funding access for lenders, should underpin credit availability, Fitch Ratings said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/diaspora-group-launches-online-petition-urging-blinken-to-reduce-visa-wait-time/articleshow/95243720.cms" style="">Diaspora group launches online petition urging Blinken to reduce visa wait time</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/hiring-slowed-down-in-the-it-sector-this-festive-season-report/articleshow/95233811.cms" style="">Hiring slowed down in the IT sector this festive season: Report</a>

Indian commercial vehicle sector will log volume growth say experts

<ul class="summary-list"><li>Economic downturns have changed how we shop for clothes.</li><li>After the <keyword id="12266328" type="UNKNOWN" weightage="60" keywordseo="great-recession" source="Orion">Great Recession</keyword>, fast <keyword id="11893303" type="UNKNOWN" weightage="60" keywordseo="fashion" source="Orion">fashion</keyword> became the norm for millennials dressing professionally on a budget.</li></ul>You can thank the <keyword id="11893570" type="UNKNOWN" weightage="100" keywordseo="economy" source="Orion">economy</keyword> for your outfit of the day.The past two recessions have shaped key sectors of the fashion industry over the past 15 years. The 2007 financial crisis accelerated the rise of fast fashion among millennials much the same way that the <keyword id="12948405" type="UNKNOWN" weightage="60" keywordseo="coronavirus-recession" source="Orion">coronavirus recession</keyword> heightened a shift toward the secondhand <keyword id="12062142" type="UNKNOWN" weightage="60" keywordseo="clothing" source="Orion">clothing</keyword> market among Gen Z. While both generations shop in both markets, each served as the trendsetters during the economic downturns they came of age in.In her new book, "<a href="https://www.amazon.com/Dress-Code-Unlocking-Fashion-Millennial/dp/0063050838/ref=sr_1_2?crid=25TANSB0ND229&amp;keywords=dress+code&amp;qid=1650301149&amp;sprefix=dress+code%2Caps%2C765&amp;sr=8-2">Dress Code: Unlocking Fashion From the New Look to Millennial Pink</a>," Elle fashion features director Véronique Hyland explores how fast fashion emerged as the norm for millennial shoppers in the post-Great Recession era."'High-low' became first a personal style directive, and then more of an order, for strivers," she wrote, and went on to explain the term. "Millennial women, who entered the workforce during a recession, were advised to mimic a proper professional appearance by mixing fast-fashion items, often runway knockoffs, with 'investment pieces' at a time when investments of all kinds felt precarious."This advice was less often given to men, she added, because women were under more pressure to balance staying on trend with dressing appropriately for the office. "You didn't want to be too provocative or too prim; you wanted to pass as older and more authoritative while still looking cool," she wrote."Fast fashion was a lifehack that would help you easily hurdle class boundaries, or at least that's how I saw it" she added. She recalled wearing consignment versions of Prada with fast fashion pieces to her first fashion publication job to "pass off" as her peers, despite still living with her parents, paying off student debt, and living paycheck-to-paycheck.Fast fashion quickly normalized, Hyland wrote, as spotting a bargain became "a way to advertise you had champagne taste on a beer budget."<h2>Thrifting is becoming the new norm</h2>But fast fashion has <keyword id="11896309" type="UNKNOWN" weightage="60" keywordseo="sustainability" source="Orion">sustainability</keyword> problems <a href="https://www.businessinsider.com/gen-z-driving-online-resale-secondhand-clothes-thrifting-poshmark-depop-2021-4">that Gen Z cares a lot about</a>: waste that contributes to the climate crisis, and workers subject to unethical labor practices, such as <a href="https://smartasset.com/credit-cards/the-economics-of-fast-fashion">16-hour work days and pay below the living wage</a>.The sustainable fashion industry grew in response, with rental fashion companies, thrifting, and ethically made clothing brands becoming more popular. It's a shift that the coronavirus recession accelerated.A recent <a href="https://www.businessinsider.com/reviews/out?platform=browser&amp;postSource=bi%7C615b24d8ea58a405ad50ae0a&amp;sc=false&amp;type=LINK-WITH-REVIEW-SLASH-OUT&amp;u=https%3A%2F%2Fwww.thredup.com%2Fresale%2F%3Fmkt_tok%3DMjExLU5KWS0xNjUAAAF_tt2t-Cbo-INnOrNXAn2Jey4Br0SIk3vt9K8FMXRe9PBJJin37PN7DTR8wkJ7HioM2WuQyEV5KYlWur2eoDAPB508kogG4AMrmZEE_AIc-aKvH6o%23size-and-impact&amp;sessionid=16502993377648ew297r7" rel="nofollow sponsored noindex">report</a> from retail analytics firm GlobalData and the online thrift store ThredUp projected the secondhand market would reach $77 billion by 2025, up from its 2021 level of $30 billion as Jefferies estimated last April. About a quarter of the secondhand market is resale clothing, which Jefferies estimates will grow by 39% per year in the same time frame, coming to eventually account for over half of the market.Jefferies forecasts the secondhand clothing market will comprise a mid-teen percentage of the overall apparel market over the next decade, driven by online resale, with Gen Z leading the way. Socially and environmentally conscious, it makes sense that Gen Z would lean toward more ethical, eco-friendly <keyword id="11896038" type="UNKNOWN" weightage="60" keywordseo="shopping" source="Orion">shopping</keyword>. But sustainability isn't the only factor pulling Gen Z toward the secondhand market. The <keyword id="11896136" type="UNKNOWN" weightage="60" keywordseo="pandemic" source="Orion">pandemic</keyword> has <a href="https://www.businessinsider.com/gen-z-nostalgia-y2k-indie-sleaze-old-money-economic-response-2022-1">sent Gen Z down a nostalgic path</a>, turning towards trends reminiscent of the millennium such as indie sleaze and <a href="https://www.nbcnews.com/pop-culture/pop-culture-news/gen-z-s-nowstalgia-y2k-fashion-leading-thrifting-explosion-n1274720">Y2K fashion</a> as comfort during moments of economic instability. Deemed vintage by Gen Z, clothes for these trends can best be found at thrift stores.Emily Farra <a href="https://www.vogue.com/article/the-year-in-secondhand-vintage-upcycling-sustainable-fashion">wrote for Vogue</a> on the rise of vintage clothing in 2020, there's something to be said of a more subtle statement of a vintage piece of clothing instead of a flashy logo in a pandemic world."In a difficult year that's seen staggering unemployment and countless shuttered businesses, the shift toward vintage and secondhand could come down to a desire for less-conspicuous fashion," she wrote.

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Indian economy likely to grow at 7-7.2 percent in FY25,Deloitte India says

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FII stake in Indian equities dips to a 12-year low

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I'm a VC in the world's fastest-growing economy. I look for 5 traits in first-time founders.

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Hotel industry bounces back after three years into the pandemic

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Indian commercial vehicle sector will log volume growth say experts

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How 2 recessions changed what we wear

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