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A recent report by <keyword id="23201114" type="General" weightage="20" keywordseo="Centrum-Institutional-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Centrum Institutional Research" meta.hostid="261" meta.entityid="Centrum Institutional Research">Centrum Institutional Research</keyword> reveals a sharp rise in the number of <keyword id="21365016" type="General" weightage="100" keywordseo="wealthy-Indians" source="keywords">wealthy Indians</keyword> over the past five years. The data highlights that the number of individuals earning more than Rs 10 crore annually has surged by 63%, bringing the total count to approximately 31,800. Meanwhile, those earning over Rs 5 crore per annum now number 58,200, marking a significant 49% increase. <h2>Wealth growth across <keyword id="23201527" type="General" weightage="20" keywordseo="income-tiers" source="keywords">income tiers</keyword></h2>The report not only tracks the increase in high earners but also highlights growth among those earning above Rs 50 lakh annually. Over the last five years, this group has expanded by 25%, with nearly 10 lakh individuals now in this income bracket. In terms of cumulative income, the report showcases rapid growth. The income of individuals earning over Rs 10 crore annually grew at a compound annual growth rate (CAGR) of 121% between FY19 and FY24, reaching a staggering Rs 38 lakh crore. Those earning more than Rs 5 crore annually saw their collective income grow by 106% CAGR, amounting to Rs 40 lakh crore. Similarly, the income of those earning over Rs 50 lakh per annum increased by 64%, totaling Rs 49 lakh crore over the same period. <div type="Article" hostid="261" msid="113328057" title="The illegal maneuvers the rich use to get richer" mstype="2" mssubtype="0"></div>The Centrum report also forecasts significant growth for India's <keyword id="20301791" type="General" weightage="20" keywordseo="High-Net-Worth-Individuals" source="keywords">High Net Worth Individuals</keyword> (HNI) and <keyword id="21662893" type="General" weightage="20" keywordseo="Ultra-High-Net-Worth-Individuals" source="keywords">Ultra High Net Worth Individuals</keyword> (UHNI). By 2028, their combined financial assets are expected to rise from USD 1.2 trillion in 2023 to USD 2.2 trillion, driven by an annual growth rate of 13-14% over the period from 2023 to 2028. The <keyword id="23201526" type="General" weightage="20" keywordseo="mass-affluent-market" source="keywords">mass affluent market</keyword> is also projected to grow in early double digits during this time. <h2>A gap in professional <keyword id="20074812" type="General" weightage="20" keywordseo="wealth-management" source="keywords">wealth management</keyword></h2>While the wealth of India's affluent is growing rapidly, the report highlights a key difference between India and advanced economies: only 15% of financial wealth in India is professionally managed, compared to 75% in more developed markets. This gap suggests a significant opportunity for the professional wealth management sector as India’s wealthy population continues to grow. (With inputs from ANI)

Individuals earning over Rs 10 cr rise by 63% in India; financial assets of high net worth individuals to nearly double by 2028

New Delhi [India], August 12 (ANI): <keyword id="19953789" type="General" weightage="20" keywordseo="IIT-Madras" source="keywords">IIT Madras</keyword> has been ranked the <keyword id="19925221" type="General" weightage="20" keywordseo="best" source="keywords">best</keyword> <keyword id="22759867" type="General" weightage="20" keywordseo="higher-educational-institution" source="keywords">higher educational institution</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> followed by IISc Bengaluru and IIT Bombay in an overall category in the ranking conducted by the National Board of Accreditation (NBA) and National Institutional Ranking Framework (NIRF). The announcement was made on Monday by the Ministry of Education at an event at the Bharat Mandapam in the national capital that was presided by Union Minister Dharmendra Pradhan. Indian Institute of Technology Madras was ranked first in the <keyword id="22759868" type="General" weightage="20" keywordseo="NIRF-rankings" source="keywords">NIRF rankings</keyword> 2024 and it is the 6th time that it has bagged the top spot in NIRF ranking. IIT-Madras has also been ranked as the best engineering college for the past nine years. In the management category, IIM-Ahmedabad and Bangalore and Calcutta are among the top five. Indian Institute of Science (Bengaluru) ranked as the best university in the country followed by Jawaharlal Nehru University Delhi and Jamia Millia Islamia. Delhi University's Hindu College ranked as the best college in the country followed by Miranda House College and St. Stephen's College. The Chennai-based institute retained the No 1 position in categories "overall and engineering" The NIRF rankings lists was released for 13 different categories, including universities, colleges, research institutions, engineering, management, pharmacy, medical, dental, law, architecture and planning, agriculture and allied sectors, and innovation. The National Institutional Ranking Framework (NIRF) has been accepted by the MoE and launched by Honourable Minister for Education on 29th September 2015. This framework outlines a methodology to rank institutions across the country/ The National Institutional Ranking Framework (NIRF) has been accepted by the MoE and launched by Honourable Minister for Education on September 29, 2015. This framework outlines a methodology to rank institutions across the country. This year, as many as higher 10885 education institutions participated in the NIRF.(ANI)

IIT Madras ranked best higher educational institution in India

<ul><li>In recent years, the government's regulatory reforms have attracted increased participation from domestic financial institutions. </li><li>Between 2010 and H1 2023, the sector has seen approximately $12 billion in exits through 267 deals. </li><li><keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">Real estate</keyword>-focused AIFs have become a preferred choice for real estate investments among domestic institutions, UHNWIs, and family offices. </li></ul>The Indian real estate sector, which has been having a positive 2023, is now looking poised for expansion, with the potential to tap into approximately $41 billion in domestic <keyword id="16810461" type="General" weightage="20" keywordseo="institutional-capital" source="Orion">institutional capital</keyword>, as per JLL's report titled 'The rise of domestic capital in Indian real estate'. Over the last decade, the sector has attracted around $57 billion in institutional investments, with a substantial $46 billion of these investments occurring between 2015 and the first half of 2023, accounting for 81% of total investments since 2010. Historically, the Americas were the dominant <keyword id="34499" type="General" weightage="20" keywordseo="private-equity" source="Orion">private equity</keyword> (PE) investors in India, but due to concerns abou a looming recession, their share has significantly decreased from 52% in 2022 to 26% in the first half of 2023. Nevertheless, as <keyword id="6438315" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="Orion">foreign institutional investors</keyword> adopted a more cautious approach, H1 2023 saw an increase in domestic capital, helping to bridge the gap left by the reduction in foreign investments. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investment amount ($ million) </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2015 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,765 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2016 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5,624 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2017 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6,757 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2018 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6,418 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2019 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5,431 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5,034 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,011 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5,151 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">H1 2023 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,939 </td></tr><tr><td style="border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-top:solid #000000 0.75pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td colspan="2" style="vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Source: JLL Capital Markets and Venture Intelligence </td></tr></tbody><tbody></tbody></table> <cmsannotation type="cmsannotation" annotationid="Regulatory reforms and govt initiatives drive investments" comment="Subhead" text="Regulatory reforms and govt initiatives drive investments">Regulatory reforms and govt initiatives drive investments</cmsannotation> The introduction of regulatory changes, including the Real Estate Investment Trusts (<keyword id="11931834" type="General" weightage="20" keywordseo="reits" source="Orion">REITs</keyword>) guidelines in 2014, followed by the Housing for All Mission in 2015, the Real Estate Regulation and Development Act in 2016, the Benami Transactions (Prohibition) Amended Act in 2016, the implementation of the Goods and Services Tax (GST), and relaxation in foreign direct investment (FDI) norms, has significantly stimulated institutional investments in the Indian real estate sector since 2015. In recent years, the government's regulatory reforms have attracted increased participation from domestic financial institutions within the real estate industry. Between 2010 and H1 2023, the sector has seen approximately $12 billion in exits through 267 deals. Notably, domestic investors have played a substantial role in these exits, accounting for 73%, in contrast to the 27% facilitated by foreign investors. The report also highlights that buybacks and secondary sales have been the preferred exit routes, representing 51% and 31% respectively over the past 12 years. Furthermore, the latest REITs have witnessed growing involvement from domestic institutional investors, such as mutual funds and insurance companies, reflecting a rising interest in real estate from these entities, who have taken on anchor investor roles. Says Lata Pillai, senior managing director and head, Capital Markets, India, JLL, “Domestic institutions are growing stronger due to sustained capital inflows enabled by the growing economy and a robust regulatory environment. We anticipate that investments from domestic institutions will become an important source of capital in the real estate sector in the years to come.” <cmsannotation type="cmsannotation" annotationid="Alternative investment funds playing a major role" comment="Subhead" text="Alternative investment funds playing a major role">Alternative investment funds playing a major role</cmsannotation> Real estate-focused alternative investment funds (AIFs) have become a preferred choice for real estate investments among domestic institutions, UHNWIs, and family offices. AIF-II category, as of December 31, 2022, had amassed an impressive $16.5 billion, reflecting a remarkable 91% compound annual growth rate (CAGR) since 2013 when it stood at $427 million. These AIFs injected roughly $16 billion into the real estate sector, significantly enhancing liquidity. <cmsannotation type="cmsannotation" annotationid="Insurance and mutual funds’ opportunity" comment="Subhead" text="Insurance and mutual funds’ opportunity">Insurance and mutual funds’ opportunity</cmsannotation> As of March 31, 2023, life insurance companies had deployed approximately ₹10,867 crore, and general insurance companies about ₹1,845 crore in real estate. These investments are just a fraction of the permissible allocation. Regulatory frameworks create opportunities for substantial long-term capital infusion, with insurance companies holding a potential of around ₹1.65 trillion for real estate investments. Mutual funds also have the opportunity to diversify into real estate, encompassing investments in Real Estate Investment Trusts (REITs) and real estate company shares. However, these investments are capped at 10% of the net asset value (NAV) of the fund. <cmsannotation type="cmsannotation" annotationid="Private wealth can be a game changer" comment="Subhead" text="Private wealth can be a game changer">Private wealth can be a game changer</cmsannotation> The population of ultra-high-net-worth individuals (UHNWIs), those with a net worth exceeding $30 million, is projected to surge by around 40% in the coming years, soaring from 13,627 individuals in 2021 to over 19,000 by 2026. This surge in private wealth signifies a burgeoning segment in India, set to make a significant contribution to private domestic capital investments within the real estate sector.

Cementing gains: Indian real estate sector sees strong inflows from domestic capital

Billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>'s Reliance Industries and <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="153" meta.entityid="Tata Group">Tata Group</keyword> have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list. TIME listed Reliance in the 'Titans' category (one of the five categories under which the companies were divided, other being Leaders, Disrupters, Innovators, and Pioneers). Tata was listed in 'Titan's' category while Serum under 'Pioneers'. "Reliance Industries was founded as a textile and polyester company 58 years ago by Dhirubhai Ambani. Today the sprawling conglomerate -- which has aligned its growth with Indian Prime Minister Narendra Modi's vision for a 'self-reliant' India -- is the country's most valuable company, with a market capitalisation of more than USD 200 billion," TIME said. Now led by Dhirubhai's son Mukesh, the Mumbai-based company has ventures in energy, retail, and telecommunications, among others, and has made its chairman Asia's richest man, it said. The publication went on to stated that in February, Reliance came out on top in a fiercely competitive race to dominate India's burgeoning streaming market by striking a USD 8.5 billion merger deal with Disney's India business. "The deal will bring together more than 100 television channels and give the combined group around a 31 per cent share of India's streaming market compared to rivals Netflix and Amazon Prime with 8 per cent each," according to analytics firm Comscore. Reliance has revolutionised several economic sectors in the world's most populous country by making world-class products and services available at affordable prices with multiple innovations. Under Mukesh Ambani, the firm's telecom arm Jio revolutionised India's digital landscape and drove digital inclusion on an unprecedented scale with the most affordable mobile data tariffs in the world. It set up the world's largest single location refining complex. Reliance Retail is ranked among the top 100 retailers globally and in FY24 it registered 1.06 billion footfalls across its 18,800+ stores (67 per cent of which are in small towns and villages). Reliance is investing USD 10 billion in building the most comprehensive ecosystem for new energy and new materials in India and has set an ambitious goal to reach net-zero carbon by 2035. TIME described Serum as the world's biggest vaccine maker, churning out billions of vaccines. The company makes 3.5 billion doses every year, including for measles, polio, and most recently, HPV. "Serum's CEO Adar Poonawalla says the company's success can largely be chalked up to its private ownership. Not being beholden to shareholders allows it to keep vaccine prices low (the R21 will cost USD 4 a shot)," the publication said. Tata Group, it said, was founded in 1868 and has a vast portfolio extending from steel, software, watches, subsea cables, and chemicals, to salt, grains, air-conditioners, fashion, and hotels. "But as rivals have aggressively courted new businesses, it struggled to keep up with stiff competition. In 2017, after over a century of family management, N Chandrasekaran took over as chairman despite having no personal ties to the family -- highly unusual when India's business landscape is ruled by family succession plans," TIME said. As chair, he has transformed the group by investing in tech manufacturing, AI, and semiconductor chips. In 2023, it became the first Indian company to assemble iPhones, and is building another plant, it said, adding that in September, Tata announced a partnership with Nvidia to develop an AI cloud in India. "And this year, it announced plans for the country's first major semiconductor manufacturing facility. The moves seem to be paying off: in February, Tata's combined market capitalisation reached a whopping USD 365 billion, more than the entire economy of India's neighbour and rival, Pakistan," it added. This is the fourth edition of annual TIME100 Most Influential Companies list, highlighting companies making an extraordinary impact around the world. To assemble the list, TIME solicited nominations across sectors, and polled its global network of contributors and correspondents, as well as outside experts. Then, TIME editors evaluated each on key factors, including impact, innovation, ambition, and success. The result is a diverse group of 100 businesses helping chart an essential path forward. 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Reliance, Tata on TIME's list of world's most influential companies

A sixth-grade social science textbook that I read described India as a piece of fabric, with countless threads coloured in a myriad of majestic shades, woven together. This metaphor holds exceptionally well when put into the context of our <keyword id="22706215" type="General" weightage="20" keywordseo="handloom-industry" source="keywords">handloom industry</keyword>. India has a rich history of handlooms and weaving cultures. The culture of handlooms is so intricately woven into Indian culture, that there are whole towns dedicated to the same: <keyword id="248532" type="General" weightage="20" keywordseo="Chanderi" source="Orion">Chanderi</keyword> in Madhya Pradesh to Pochampally in Telangana and a dozen more! Unfortunately, the handloom industry in India is dying. The struggle is multi-faceted, ranging from a declining workforce to fierce competition from <keyword id="20496028" type="General" weightage="20" keywordseo="power-looms" source="keywords">power looms</keyword>. Hence, five years ago, August 7 was proclaimed <keyword id="22677698" type="General" weightage="20" keywordseo="National-Handloom-Day" source="keywords">National Handloom Day</keyword> in response to this crisis and to heighten public awareness. This date holds special historical significance, commemorating the initiation of the Swadeshi Movement in 1905—a pivotal act of defiance against British colonial rule. <h2>When did this industry come into existence?</h2>According to archaeological findings, the origins of handloom in the Indian subcontinent may be traced back to the Indus Valley Civilization. The Mughal Empire was known to support and patronise <keyword id="20258864" type="General" weightage="20" keywordseo="weavers" source="keywords">weavers</keyword>. The support from the royal patrons resulted in the invention of new textiles such as ‘Mulmul’ and ‘Banarasi Brocade’ among others. This era witnessed a heightened worldwide demand for Indian textiles. In the 17th century, India produced 25% of the world’s textiles, with Bengal accounting for more than 50% of textiles and 80% of silks imported by the Dutch from Asia. <h2>What led to the decline of the <keyword id="19934660" type="General" weightage="100" keywordseo="Indian-handloom" source="keywords">Indian handloom</keyword>?</h2>The East India Company's entry fuelled the industry's initial decline, which started in the 1830s. The weavers were obliged to sell only to the British, and that too at exceedingly cheap prices, virtually putting them out of business. On the other hand, Indian cloth was taxed excessively to promote machine-made British clothing. The Industrial Revolution in Britain strengthened their indigenous textile industry, giving rise to new markets for cheaper textiles. In India, the collapse of the Mughal aristocracies meant no access to royal patronage. As a result, textiles like Khadi and muslin had little demand in the market. Circling back to the present, the industry is facing both similar and new challenges. Fabrics made on power looms are cheaper and faster to produce, in comparison to handloom fabrics. The industry is largely unorganised, and the wages are shockingly low. 67% of <keyword id="22706216" type="General" weightage="20" keywordseo="handloom-workers" source="keywords">handloom workers</keyword> are earning less than the minimum wage every month. Faced with economic challenges, the older artisans are thus forced to encourage the newer generation to choose an alternative career path. This migration of the workforce from a traditional sector is evident from the fall in the number of weavers less than 35 years of age- from 26.13 lakh in 2009-10 to 16.07 lakh in 2019-20. The majority of weavers do not have access to banking facilities, let alone institutional credit. Furthermore, if one manages to accumulate credit, there is a mismatch between the supply and demand forces due to the lack of awareness about handwoven textiles in the current generation. <h2>Initiatives for revival</h2>The cultural significance of the Indian handloom isn’t just limited to its beauty and extravagance, but it extends to our independence struggle as well. The Swadeshi movement immortalised the charkha and advocated for the use of indigenous goods. Following independence, the Indian government took many measures to revive the handloom industry. In 1953, India’s Parliament approved the Khadi and Other Handloom Industries Development Act. In 1955, the All India Handloom Fabrics Marketing Cooperative Society was formed to promote the sale of fabrics produced by handloom cooperatives across India. The National Handloom Development Programme (NHDP) aimed to provide financial assistance for marketing and production. The Handloom Weavers’ Comprehensive Welfare Scheme offers health and life insurance to weavers, to ensure social security. The organisation commenced a fortnight-long exhibition, “VIRAASAT” dedicated to celebrating the 10th National Handloom Day began at Handloom Haat in Janpath, New Delhi on Saturday, 3rd August 2024, and will conclude on 16th August 2024. The Handloom Mark scheme was introduced to authenticate handloom products, thus enabling weavers to gain better market access and ensuring that consumers get genuine products. Moreover, the India Trade Portal also mentions that the GOI plans to provide financial assistance of Rs. 30 crore to at least 10,000 handlooms. Various state governments also regularly conduct handloom expos and fairs, providing platforms for weavers to showcase and sell their products directly to consumers. <h2>Contemporary Brands and their love for Indian handloom</h2>Modern, popular designers such as <keyword id="8264" type="General" weightage="20" keywordseo="Sabyasachi" source="Orion">Sabyasachi</keyword> and <keyword id="21493890" type="General" weightage="20" keywordseo="ritu-kumar" source="keywords">Ritu Kumar</keyword> are known to work closely with weavers and have been doing their part by bringing worldwide attention to the handloom industries. Recently, <keyword id="1472101" type="General" weightage="20" keywordseo="Ajrakh" source="Orion">Ajrakh</keyword> was brought into the limelight when Alia Bhatt wore a custom Abu Jani Sandeep Khosla Ajrakh saree to Joy Awards in Riyadh. However, it’s not just the fashion moguls who are working towards the revival of this industry. Contemporary indie brands are partnering with local weavers, and creating awareness about their work. The emergence of such indie brands and their association with local artisans is beneficial for both entities. For instance, Joskai Studio derives its name from ‘Joskai’, a woven piece of cloth worn as a part of the traditional costume of the Tiwa community of Assam. They work with artisans in northeast India, specifically from the weaving village of Saualkuchi in Assam. Rouka by Sreejith Jeevan is a Kerala-based brand that works strictly with weavers from Kerala, specifically Chendamangalam and Kuthampally. <h2>Employment and Exports</h2>According to the Indian Trade Portal, the Indian handloom sector is the country’s second-largest employer after agriculture in rural areas. The Handloom Census 2019-20 mentions that the industry employs about 35,22,512 workers across the country, with women forming 77.29% of the workforce. India is the second largest exporter of handloom products in the world, with exports valued at $ 353.9 million in 2017- 18, as per EXIM bank's working papers. The major handloom export centres are Karur, Panipat, Varanasi and Kannur where handloom products like bed linen, table linen, toilet linen, floor coverings, and embroidered textile materials and curtains etc. are produced for export markets. During April 2021-February 2022, India exported handloom products worth 1693 crore, as per Indian Trade Portal. Indian silk scarves also form a sizable chunk of total handloom exports, in addition to home textiles like carpets, rugs and mats, which constitute over 13.6% of India’s total handloom exports. <h2>The Path Forward</h2>The mere existence of organisations and allocation of funds isn’t enough to sustain the legacy of India’s rich handloom industry. Big corporations working with local weavers ensure employment but don't protect them from exploitation and meagre wages, leaving them vulnerable. The people in power ought to come up with strategies that ensure the trickle-down effect of the schemes and funds. The new generation of buyers has a greater purchasing power than the one before them. Marketing focused on bringing Indian handloom practices into the limelight can do wonders in this case.

Fabric of a nation: Sustaining India's handloom legacy in modern times

In response to higher-than-expected tax revenue and a record surplus transfer from the Reserve Bank of India (RBI), the Indian government is considering an 8-10% increase in <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> (capex) for the fiscal year 2025, according to Pantomath Group's quarterly report, "Market Kaleidoscope: Quarterly Market Insights." This adjustment could raise the capex from the previously allocated Rs 11.11 lakh crore, aiming to bolster infrastructure and economic growth. This fiscal boost comes as India reaches a historic financial milestone. The total market capitalization of all stocks listed on the Bombay Stock Exchange (<keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword>) briefly surpassed $5 trillion for the first time, placing India among global giants such as the US, China, Japan, and Hong Kong. India's primary market is set for a dynamic period, with 55 companies planning to raise over Rs 68,000 crore through Initial Public Offerings (IPOs). The first half of FY2025 has already seen 35 mainboard IPOs, collectively raising around Rs 32,000 crore with an average subscription rate of 61 times. The Indian market maintained a positive outlook in the first quarter of FY2025, driven by strong Q4FY24 earnings, favorable economic data, and positive global cues. Despite early June volatility following the 2024 <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> election results, market sentiment improved with the BJP securing 272 seats and a total of 292 seats for the NDA with allied support. This political stability under Prime Minister Narendra Modi's leadership is expected to promote long-term economic growth, with a focus on infrastructure, electric mobility, startup support, power distribution, digital privacy, and healthcare initiatives. Corporate India's performance in the March quarter of FY2024 met expectations, showing double-digit growth in net profit and single-digit revenue increases. Non-lending companies experienced moderate operating margin expansion due to favorable commodity prices and cost controls. The peaking interest rates and continuity of <keyword id="19978691" type="General" weightage="20" keywordseo="government-policies" source="keywords">government policies</keyword> are anticipated to support healthy corporate growth in FY2025. <h2>Growth to continue</h2>The government's push for increased <keyword id="20068449" type="General" weightage="20" keywordseo="ethanol-production" source="keywords">ethanol production</keyword> targets a 20% blending by 2026, benefiting ethanol-heavy sugar companies and promoting biofuel goals. The real estate market is projected to grow significantly, requiring Rs 14 lakh crore in debt financing from 2024 to 2026. This growth will positively impact the banking and financial sectors. Major telecom operators have raised tariffs post-election, potentially improving sector financials and paving the way for sector re-rating. Major cement players are expanding through acquisitions, with an expected 6-7% compounded growth and market dominance by the top five players by March 2025. FMCG Companies expect recovery in rural business due to factors like a normal monsoon, robust crop yields, and government measures, maintaining robust rural demand. The potential roll-out of the FAME 3 Scheme to support <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword> is anticipated, with a budgetary allocation of around Rs 10,000 crore. Sectors such as auto, cement, defence, railways, consumer durables, energy, and banking are expected to outperform. Lagging sectors like IT and specialty chemicals offer value-buying opportunities at lower levels. The structural bull market for Indian equity is supported by strong domestic fundamentals and government reforms, with a positive medium- to long-term market outlook. Globally, the US market showed resilience, except for the Dow Jones. The Federal Reserve maintained interest rates at 5.25-5.50%, awaiting inflation to move towards the 2% target before considering rate cuts. The US GDP grew at 1.4% annually in Q1 2024, with mixed economic indicators highlighting both strengths and challenges. The Indian <keyword id="19926041" type="General" weightage="20" keywordseo="IPO-market" source="keywords">IPO market</keyword> has seen significant growth, with a surge in companies seeking to list shares and a rise in capital raised. The first half of 2025 saw strong retail investor participation, reflecting confidence in India's growth prospects. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Private Limited, said, "Favourable market conditions, high liquidity, a conducive growth environment with stable interest rates, and benign inflation have facilitated a boom in the IPO market. The IPO market will experience a stronger pull post-budget. India is set to become the new equity funding frontier for global corporations." He further added. "We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best for IPOs. India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market. Additionally, there is robust participation from both domestic institutional investors and retail investors." With the Indian government's potential capex increase and the robust primary market activity, the <keyword id="19948184" type="General" weightage="100" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> is poised for sustained growth. The upcoming period is expected to see heightened market activity, further IPOs, and economic stability, creating a conducive environment for investment and development.

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

<ul><li>IIMs aside, other B-schools like Faculty of Management Studies Delhi and <keyword id="481185" type="COMPANY" weightage="20" keywordseo="Management-Development-Institute">Management Development Institute</keyword> (MDI) students also receive high paying job offers. </li><li><keyword id="1938161" type="PERSON" weightage="20" keywordseo="FMS-Delhi">FMS Delhi</keyword> recorded its highest ever average salary package at ₹25.6 lakh while the highest package went up to ₹58.6 lakh per annum. </li><li>Meanwhile, the average compensation at MDI too increased by 9.5% at ₹22.05 lakh. </li><li>Both the institutions clocked in 100% placements this season. </li></ul><keyword id="53914" type="COMPANY" weightage="20" keywordseo="Indian-Institutes-of-Management">Indian Institutes of Management</keyword> (IIMs) have achieved iconic status for their courses, faculty and of course the high paying job offers. But it is not just these students who are walking away with the best of salary offers. Students of other B-schools like Faculty of Management Studies Delhi and Management Development Institute (MDI) are receiving salary offers that are just as good. This year, on average, FMS Delhi students received job offers that paid ₹25.6 lakh. The best paying job offer went as high as ₹58.6 lakh per annum. This is the kind of high paying salaries that are generally associated with IIMs, XLRI and others. Thanks to A-list recruiters like Capgemini, McKinsey &amp; Co, Flipkart, Airtel and Xiaomi, almost 75% of FMS students received offers that paid above ₹20 lakh. That is three in four students. For the top performing quartile, the salaries went as high as ₹37.5 lakh. Though FMS ranks 35th in top Indian B-schools, the students who get admission to this Delhi University-affiliated college have to score 99% in CAT. However, due to public university affiliation, the fees are around ₹65,000 per year while the IIMs cost a massive ₹10 lakh per annum. <div type="image" title="fms" msid="74185469" hostid="261" caption="&amp;lt;p&amp;gt;Faculty of Management Studies, Delhi&amp;lt;/p&amp;gt;"></div>

 Startups and other businesses come hiring at elite B-schools The high salaries of FMS students is not an aberration. In fact, across elite schools average compensations have been growing in spite of the slowdown. The <a href="https://www.businessinsider.in/careers/news/amazon-becomes-the-top-recruiter-at-mdi-gurgaon-with-a-40-5-lakh-offer/articleshow/73545137.cms">average compensation at MDI</a> too increased by 9.5% at ₹22.05 lakh, thanks to startups and new-age businesses looking for bright, fresh minds. <div type="image" title="32743536387_9f030c0e1c_o" msid="74185477" hostid="261" caption="&amp;lt;p&amp;gt;Management Development Institute, Gurgaon&amp;lt;/p&amp;gt;"></div>

 Amazon offered the highest package at ₹40.5 lakh and 41 offers came from the ecommerce sector. Other recruiters were Flipkart, Oyo and PhonePe. The increased demand for digital skills across job roles seems to be working in favour of fresh graduates. “When you talk about digital businesses, they will definitely look at retaining talent with digital skills. The e-commerce sector has seen the highest growth, in terms of hiring at nearly 141%, compared to last year,” Kanwal Kapil, Dean of Placements at MDI<a href="https://www.businessinsider.in/careers/news/amazon-becomes-the-top-recruiter-at-mdi-gurgaon-with-a-40-5-lakh-offer/articleshow/73545137.cms"> told </a>Business Insider. The growing trend of summer placements and pre-placement offers too might have had an effect on the increased interest of recruiters. MDI said that it received 36% more pre-placement offers at 68. During the summer placements as well, both the two institutes witnessed a 40% and 14% increase in offers from consulting companies, respectively. Needless to say, both the universities clocked in 100% placements this season. See also: <a href="https://www.businessinsider.in/careers/news/these-are-the-starting-salaries-offered-to-b-school-students-in-india/articleshow/74168696.cms">These are the starting salaries offered to B-school students in India</a> <a href="https://www.businessinsider.in/careers/news/indias-best-minds-from-iim-ahmedabad-xlri-mdi-gurgaon-are-heading-to-consulting-firms/articleshow/74055916.cms">India’s best minds from IIM Ahmedabad, XLRI are heading to consulting firms</a> <a href="https://www.businessinsider.in/careers/news/iim-lucknow-iim-kozhikode-mdi-gurgaon-secure-100-placements-offering-2-5-million-as-the-starting-pay/articleshow/73722200.cms">Indian B-schools are beating the slowdown with average salary offers at ₹2.5 million</a>

These two B-schools have seen placement offers as good as those at IIMs

<ul><li>Indian Institute of Management (IIM) Ahmedabad, <keyword id="8754640" type="COMPANY" weightage="20" keywordseo="xaviers-school-of-management">Xaviers School of Management</keyword> (XLRI) and <keyword id="481185" type="COMPANY" weightage="20" keywordseo="Management-Development-Institute">Management Development Institute</keyword> (MDI) — say they have attracted the most promising job packages from consulting firms. </li><li>Consulting majors McKinsey &amp; Company, <keyword id="136162" type="COMPANY" weightage="20" keywordseo="Boston-Consulting-Group">Boston Consulting Group</keyword> (BCG) rolled out 50 offers at <keyword id="19483" type="COMPANY" weightage="20" keywordseo="IIM-ahmedabad">IIM Ahmedabad</keyword>. </li><li>XLRI also attracted the highest number of offers from the consulting domain (26%). Global multinationals KPMG and PwC topped the charts. </li><li>More than half (57%) of the offers at MDI came from companies in the consulting, BFSI, technology and telecom sectors and the average compensation too increased by 9.5% at ₹ 2.2 million.</li></ul>India’s top business schools — Indian Institute of Management (IIM) Ahmedabad, Xaviers School of Management (XLRI) and Management Development Institute (MDI) — say they their students received the most promising job offers from consulting firms. Consulting majors McKinsey &amp; Company, <keyword id="169297" type="COMPANY" weightage="20" keywordseo="Boston-Consulting">Boston Consulting</keyword> Group (BCG) rolled out as many as <a href="https://economictimes.indiatimes.com/jobs/iima-concludes-cluster-1-placement-mckinsey-bcg-top-recruiters/articleshow/74024154.cms">50 offers at IIM Ahmedabad</a>. This includes the pre-placement offers as well. Other recruiters included Accenture Strategy, Bain &amp; Co., Credit Suisse, Goldman Sachs and Deloitte. This is as per the Cluster1 placements at the IIM-A campus — which was concluded in four cohorts — investment banking and markets, management consulting, advisory consulting and private equity, venture capital and asset management. “Consulting firms continued to hire in large numbers in the first cluster, offering management consulting roles across geographies including Malaysia and Middle East,” the institute said. It’s not just the IIMs This has become a common trend across B-schools. XLRI also attracted the highest number of offers from the consulting domain at 26%, this year. Global multinationals KPMG and PwC were the top most recruiters, rolling out the highest number of offers. This simply mirrored last year’s trend wherein Boston Consulting Group was the leading recruiter. On the other hand, more than half (57%) of the offers at MDI came from companies in the consulting, BFSI, technology and telecom sectors. The average compensation at the institute too increased by 9.5% at ₹ 2.2 million. This includes 63 offers from PwC, Deloitte, ICICI Bank, IDFC Bank and Airtel. Last year too, IIM Bangalore reportedly scored over 30% placements in the consulting sector — including overseas job offers. Investment banking follows Banking, Insurance and Financial Services(BFSI ) is the second biggest chunk of recruiters. At IIM-A, Avendus and JP Morgan Chase &amp; Co offered 18 job letters. At XLRI too BFSI which recruited 17%, also turned out to be the highest paymaster. It offered domestic salaries as high as ₹5 million. “The increase in BFSI hiring can be attributed to a higher number of candidates opting for the finance specialization and a vibrant appreciation for finance in the form of finance associations and an in-house XLRI Student Investment fund,” XLRI said. Overall, this placement season has been a fruitful one so far. Several management institutions — including IIM Lucknow, IIM Kozhikode, MDI, XLRI — clocked in 100% placements in the first week. See also: <a href="https://www.businessinsider.in/careers/news/xlri-students-bag-domestic-and-international-job-offers-with-salaries-over-50-lakhs/articleshow/73974506.cms">XLRI students bag domestic and international job offers with salaries over ₹50 lakh</a> <a href="https://www.businessinsider.in/careers/news/iim-lucknow-iim-kozhikode-mdi-gurgaon-secure-100-placements-offering-2-5-million-as-the-starting-pay/articleshow/73722200.cms">Indian B-schools are beating the slowdown with average salary offers at ₹2.5 million</a> <a href="https://www.businessinsider.in/careers/news/amazon-becomes-the-top-recruiter-at-mdi-gurgaon-with-a-40-5-lakh-offer/articleshow/73545137.cms">Amazon becomes the top recruiter at MDI Gurgaon with a ₹40.5 lakh offer</a>

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Individuals earning over Rs 10 cr rise by 63% in India; financial assets of high net worth individuals to nearly double by 2028

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Fabric of a nation: Sustaining India's handloom legacy in modern times

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India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

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These two B-schools have seen placement offers as good as those at IIMs

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India’s best minds from IIM Ahmedabad, XLRI are heading to consulting firms

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