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Revenues of organised <keyword id="21758362" type="General" weightage="100" keywordseo="gold-jewellery-retailers" source="keywords">gold jewellery retailers</keyword> are expected to surge by 22-25% this fiscal year, driven by the sharp reduction in import duties on <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> in the July Budget, according to a <keyword id="20874793" type="General" weightage="20" keywordseo="CRISIL-report" source="keywords">CRISIL report</keyword>. A recent analysis by CRISIL Ratings, which examined 58 gold jewellery retailers representing a third of the <keyword id="21165181" type="General" weightage="20" keywordseo="organised-sector" source="keywords">organised sector</keyword>'s revenues, indicates that the sector will benefit from improved <keyword id="19900859" type="General" weightage="20" keywordseo="working-capital" source="keywords">working capital</keyword> management. Although many retailers plan significant store expansions--estimated at 12-14% of existing stores--lower gold prices will reduce inventory costs, providing working capital relief. The organised jewellery sector, which accounts for just over a third of the overall market, is poised for a stronger financial performance compared to its unorganised counterpart. The steep reduction in <keyword id="20069572" type="General" weightage="20" keywordseo="import-duty" source="keywords">import duty</keyword> has come at a crucial time for the industry, as retailers prepare for the festive and marriage seasons. Following the price decline, volumes are expected to grow by 3-5% this fiscal year, reversing earlier projections of stagnant demand. Gold prices had been steadily rising since February 2024, which had subdued consumer demand and led to revenue growth driven solely by higher realisations rather than increased sales volumes. Himank Sharma, Director at CRISIL Ratings, highlighted the timely impact of the duty cut and said, "The duty cuts to their decadal lows have come at an opportune time for the gold jewellery retailers as they start stocking for the festive and marriage seasons from the latter half of August." He added, "However, the inventory losses on the existing stock due to the price cuts will be partially mitigated by the reduced spends on marketing and discounts, as demand revives. All said <keyword id="19957745" type="General" weightage="20" keywordseo="profitability" source="keywords">profitability</keyword> will see a marginal dip on-year to 7.1-7.2%." Despite the pressure on profitability, retailers' cash flows will improve due to higher revenues, enabling them to pursue expansion plans. Store expansions, expected to increase by 12-14%, will require higher inventory levels. However, the lower input costs resulting from reduced gold prices will balance out the additional working capital requirements. Gaurav Arora, Associate Director at CRISIL Ratings, added, "Gold jewellery retailers will maintain comfortable financial metrics this fiscal, with total outside liabilities to tangible net worth (TOL/TNW) and interest coverage ratios remaining around 1.0 and 9 times, respectively. These will be moderately better than our earlier expectations, keeping credit profiles stable." As the festive season approaches, gold prices remain around 17% higher than last year's average, which is expected to sustain demand and further drive revenues in the second half of the fiscal year. However, potential volatility in gold prices, changes in government regulations, and shifts in consumer sentiment will need to be closely monitored. The combination of reduced prices, increased demand, and improved working capital management is expected to keep the financial outlook for gold jewellery retailers positive, despite the slight dip in profitability. The reduced duty has caused retail gold prices to fall by Rs 4,500-5,000 per 10 grams, leading to increased demand for gold jewellery. The growth projection, 500-600 basis points higher than earlier estimates of 17-19%, is fuelled by higher volumes as more consumers are enticed by the lower prices.

Budget import duty cut will boost gold jewellery retailers' revenues by 22-25% this fiscal, notes CRISIL report

<keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">Gold prices</keyword> have corrected sharply by 7% or Rs 5,000 per 10 grams in the local markets after the government slashed the basic customs duty on gold. Lower costs will encourage more people to invest in the yellow metal, both as a commodity and as a financial asset, experts say. Analysts said customs duty cut has made gold imports cheaper. The move will help curb the rampant issue of gold smuggling, leading to growth in the organised <keyword id="22107284" type="General" weightage="20" keywordseo="jewellery-sector" source="keywords">jewellery sector</keyword>. "The cut in basic <keyword id="20330317" type="General" weightage="20" keywordseo="custom-duty" source="keywords">custom duty</keyword> on gold prices makes the yellow metal cheaper. While this can lead to weaker market sentiments due to the sudden change, <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword> stand to benefit from the new, more attractive pricing for gold," said Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities Echoing similar sentiments, Krishnan R, Director &amp; CEO of Unimoni Financial Services said lower costs will encourage more people to invest in gold, both as a commodity and as a financial asset, which is often seen as a hedge against inflation and currency devaluation. Following the <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword> announcement by finance minister Nirmala Sitharaman that the government has slashed basic customs duties on gold and silver from 15 per cent to 6 per cent, gold prices crashed by Rs 3,350 to Rs 72,300 per 10 grams in the national capital on Tuesday. The precious metal prices continued the downtrend and plunged by Rs 650 on Wednesday. The yellow metal rates saw another steep fall on Thursday, nosediving by Rs 1,000 to settle at Rs 70,650 per 10 grams, as per the All India Sarafa Association. After the duty cut, the yellow metal has declined Rs 5,000 per 10 grams or 7.1% in the past three sessions, since July 23 when it had fallen Rs 3,350 to end at Rs 72,300 per kg. Also, gold of 99.5% purity declined by Rs 1,000 to Rs 70,300 per 10 grams on Thursday. It had also lost ground by Rs 5,000 per 10 grams in the previous three sessions. On Thursday, silver rates also lost ground by Rs 3,500 per kg to Rs 84,000 per kg. In the past three sessions, the rates of the bright metal fell sharply by Rs 7,000 or 8.3% to Rs 84,000 per kg from Rs 91,000 per kg. Traders also said that a sharp correction in gold prices have revived the demand for jewellery among consumers as they flocked to jewellery outlets to take advantage of lower prices. "The reduction in basic custom duties have spurted the demand for jewellery in the domestic markets. Further, this will act as a sales booster for jewellers before the festive seasons, encouraging fresh buying by the consumers due to lower prices," PC Jeweller's Managing Director Balram Garg. Low gold prices will help domestic jewellers, particularly the organised ones, Garg said. According to MP Ahammed, Chairman, Malabar Group, the reduction has been a long-standing demand of traders in the gold sector, as it is expected to curb the rampant issue of gold smuggling, which poses a substantial threat to the Indian economy. "With the new rates, the duty on one kilogram of gold drops from Rs 9.82 lakh to Rs 3.93 lakh, making smuggling less attractive and more manageable. "This move will help dismantle the mafia chain involved in smuggling, leading to growth in the organised jewellery sector and increasing government revenue through GST and income tax," Ahammed said. Meanwhile, in futures trade on the <keyword id="20316358" type="General" weightage="20" keywordseo="multi-commodity-exchange" source="keywords">Multi Commodity Exchange</keyword> (MCX), gold futures have partially recovered on Friday, after three days of slump. The most traded August contract jumped Rs 288 to Rs 67,750 per 10 grams on the MCX. It had settled at Rs 67,462 per 10 grams in the previous session on Thursday. However, silver contracts for September delivery continued its downward trend by declining Rs 241 to Rs 81,090 per kg. It had closed at Rs 81,331 per kg in the previous session on Thursday. Experts anticipate stability in bullion prices once there is clarity on several economic and political factors such as interest rate cut by the <keyword id="19901377" type="General" weightage="20" keywordseo="us-federal-reserve" source="keywords">US Federal Reserve</keyword>. "Stability in gold prices is expected once there is clarity on several economic and political factors including, potential interest rate cuts in the US and India, and the outcome of the US Presidential elections will provide a clear direction for gold prices," Trivedi said.

Gold prices drop by Rs 5,000/10gm post Budget; bring cheers to retail investors

New Delhi [India], May 22 (ANI): Benefiting from strong sales, organised gold jewellery retailers are set to clock 17-19 per cent <keyword id="19965932" type="General" weightage="20" keywordseo="revenue-growth" source="keywords">revenue growth</keyword> in the current financial year 2024-25, according to <keyword id="19898320" type="General" weightage="20" keywordseo="Crisil" source="keywords" meta.keywordsubtype="org" meta.entityname="Crisil" meta.hostid="261" meta.entityid="Crisil">Crisil</keyword>. The rating agency asserted that the projected revenue would be driven by higher realisations stemming from elevated <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">gold prices</keyword>, while volume remains steady. Gold, considered a safe haven asset for investment, has been in demand for considerable period of time, with its prices rallying to hit record highs every now and then. Geopolitical conflict in the West Asia that stretched for long now, buying by several central banks including RBI, physical demand, have altogether pushed gold prices towards northwards. Retailers are likely to step up marketing and promotional campaigns this fiscal to combat the moderation in demand amid rising gold prices, Crisil said on Wednesday. Hence, operating profitability may marginally moderate 20-40 basis points (100 basis points is equal to 1 percentage point) year-on-year to 7.7-7.9 per cent. "Working capital requirements may rise, too, resulting from increased inventory due to a substantial rise in gold prices and new stores additions. That said, credit profiles should remain stable," the rating agency noted. The organised gold sector accounts for slightly more than a third of the market, with the highly fragmented unorganised sector making up the rest. Domestic gold price increased 15 per cent during fiscal 2024 and reached Rs 67,000 per 10 gm as on end of March 2024. Now, they are trading at over Rs 74,000. Gold kept its shine as one of the safer investment options seen by various central banks across the world as well as end consumers amid geopolitical uncertainties. Gold is a scarce commodity, and any mismatch in demand-supply conditions may invariably trigger sharp price rise. Moreover, Crisil believes <keyword id="21263075" type="General" weightage="20" keywordseo="organised-retailers" source="keywords">organised retailers</keyword> will continue to gain market share at the expense of the unorganised ones, supported by changing consumer preferences and store expansion into Tier 1 and 2 cities and beyond. Himank Sharma, Director, CRISIL Ratings, "Stronger cash generation, due to healthy revenue growth and adequate profitability, will keep credit profiles of organised gold jewellery retailers stable, despite an expected rise in working capital borrowings." At the global level too, gold prices too are at their peaks. Historically, gold, as an asset, is considered to be a haven as it typically manages to retain or appreciate its underlying value in times of turbulence. (ANI)

Benefiting from strong sales, gold jewellers set for 17-19% revenue growth in 2024-25: Crisil

The <keyword id="21627536" type="General" weightage="100" keywordseo="gold-loan-market" source="keywords">gold loan market</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is on the cusp of substantial growth, driven by rising per-gram gold rates and increasing customer demand. Currently, the market is predominantly controlled by the <keyword id="21485305" type="General" weightage="20" keywordseo="unorganized-sector" source="keywords">unorganized sector</keyword>, which holds a 63 % share, while <keyword id="22789155" type="General" weightage="20" keywordseo="organized-players" source="keywords">organized players</keyword>, including banks and Non-Banking Financial Companies (<keyword id="19938300" type="General" weightage="20" keywordseo="NBFCs" source="keywords">NBFCs</keyword>), account for the remaining 37 %, according to a recent <keyword id="20055667" type="General" weightage="20" keywordseo="PwC" source="keywords" meta.keywordsubtype="org" meta.entityname="PwC" meta.hostid="83" meta.entityid="PwC">PwC</keyword> report. Indian households are estimated to possess approximately 25,000 tonnes of gold, valued at around Rs 126 lakh crore. Despite this vast wealth, the existing gold loan market through organized channels is valued at just Rs 7.1 lakh crore. With the market penetration of gold loans in India currently at only 5.6%, there is considerable untapped potential within <keyword id="22902023" type="General" weightage="20" keywordseo="household-gold-holdings" source="keywords">household gold holdings</keyword>. Although not all gold is available for pledging--due to factors such as religious significance, emotional value, or lack of financial need--there remains substantial opportunity for growth in the gold loan sector. The gold loan market in India has historically been dominated by the unorganized sector. However, in recent years, organised players, particularly NBFCs, have begun to gain market share. Banks, too, have been making inroads, especially through retail gold loans and a continued focus on agricultural gold loans. This shift is expected to continue as organised players leverage their formal lending structures, transparency, and customer trust to capture a larger share of the market. Shaji Varghese, CEO, Muthoot FinCorp Limited, "Gold loan assets have been growing steadily and the potential to grow further is high since a major part of the country's gold loan market is still in the unorganized sector. <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">Gold prices</keyword> have been rising over the years. There is also a paradigm shift on how buying gold is perceived today. Traditionally gold was purchased for historical, cultural and societal reasons and while that continues, people have started buying gold as an investment and also as a convenient option to raise funds for financial requirements." India remains one of the world's largest consumers of gold, with total demand reaching 747 tonnes in 2023. However, this represented a 3% decrease compared to the previous year, primarily due to the surge in gold prices, which dampened demand for gold jewellery. The price of gold in India increased from Rs 55,375 to Rs 66,532 per 10 grams (22 carats) between November 2023 and May 2024, prompting a shift towards lightweight or lower-carat jewellery items. Globally, the demand for gold grew by 3 % in 2023, with China emerging as the largest market. The global market's expansion presents opportunities for Indian gold loan financiers to explore new avenues for growth beyond domestic borders. Gold's relationship with the US dollar is a key factor influencing gold prices in India. A weakening rupee often leads to an increase in gold prices, as gold is priced in USD internationally. This dynamic drives higher imports and increases the cost of gold in rupees, further fuelling demand as investors seek a safe haven against currency fluctuations. V.P. Nandakumar, Managing Director and Chief Executive Officer, Manappuram Finance Ltd, "Of late, the sharp increase in gold prices has imparted some stability to the gold loan book of most players and we do not expect gold prices to come down due to geo-political factors, the accumulation of gold by central banks as well as the lasting allure of the yellow metal." The securitisation of gold through various financial instruments offers new avenues for gold loan players to diversify their offerings. By using gold-based security as collateral, established players can introduce new loan products that leverage the intrinsic value of physical gold.

India's gold loan market set for rapid growth amid rising prices; unorganized sector holds 63% share, notes recent PwC report

New Delhi, <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s retail sector is expected to grow at 9-10 per cent to reach USD 2 trillion in the next decade with the country's consumption story continuing to remain strong with steady growth, according to a report. Yet, organised retailers would need to sustain performance and continue to grow shares as the sector is going through key shifts impacting the pace and shape of growth, said the report by the <keyword id="19896306" type="General" weightage="20" keywordseo="boston-consulting-group" source="keywords">Boston Consulting Group</keyword> (BCG) and <keyword id="19895979" type="General" weightage="20" keywordseo="retailers-association-of-india" source="keywords">Retailers Association of India</keyword> (RAI). While income growth remains steady, and consumers are optimistic about personal income outlook, consumers are increasingly looking to spend on "experiences" or save more through newer or nascent vehicles, it said. "The Indian retail sector will more than double in size to USD 2 trillion in the next decade - across categories and formats - and the successful retailers are the ones who continue to challenge the perceived growth profitability trade-off, " BCG Managing Director and Senior Partner <keyword id="20759105" type="General" weightage="20" keywordseo="abheek-singhi" source="keywords">Abheek Singhi</keyword> said. The report said, "India retail (is) expected to grow at 9-10 per cent to reach USD 2 trillion in the next decade." Historically, it added organised retail has outperformed underlying category growth but a slowdown was seen in 2023. The slowdown in growth was reflected across segments in the recent quarters, it noted. The report pointed out that retailers would need to address key considerations for sustainable growth in the future. "By focusing on personalised customer experiences, exploring new collaborations, and leveraging AI for efficiency, we can propel India's retail industry towards unprecedented growth and global competitiveness," RAI CEO <keyword id="19992473" type="General" weightage="20" keywordseo="kumar-rajagopalan" source="keywords">Kumar Rajagopalan</keyword> said. As per the report, stores expansions continue to happen and with increasing urbanisation, there is more consumption expected to happen in tier 1-4 cities. "While e-commerce continues to grow, net new user addition has seen a slower pace in the year," it said, adding that the role and proposition of online needs to be reimagined.

India's retail sector to more than double to $2 trillion in next decade says BCG report

Mumbai, Fintech players should form <keyword id="18684976" type="General" weightage="50" keywordseo="a-self-regulatory-organisation" source="Orion">a self regulatory organisation</keyword> for an orderly growth of the industry that is projected to have revenues of USD 200 billion by 2030, <keyword id="7268643" type="General" weightage="20" keywordseo="rbi-governor-shaktikanta-das" source="Orion">RBI Governor Shaktikanta Das</keyword> said on Wednesday. Addressing the industry at the <keyword id="9621521" type="General" weightage="50" keywordseo="global-fintech-fest" source="Orion">Global Fintech Fest</keyword> here, Das said fintech players need to evolve industry best practices to avoid misselling, stress on ethical practices, pricing transparency and take care of privacy and data protection concerns. "I would like to use this opportunity to urge and encourage the fintechs to establish a Self Regulatory Organisation (SRO) themselves," he said and assured all help from the Reserve Bank of India (RBI) for the process. The fintech players should form the SRO at the earliest, Das said and hoped that such a platform will be ready at least by the next edition of the yearly event. Stating that other industries also have SROs, Das said forming an SRO will help the players to voice their concerns. He also said that having the SRO will reduce the burden of regulating a dynamic sector off the RBI's shoulders. Das said regulators play a critical role in addressing arbitrage, ensuring compliance with existing laws, and adopting regulations as per technological advancements. Further, he asked the fintech players -- most of them startups -- to avoid the "relentless drive for valuations" and profits, and asked them to focus on customer centricity. "... to focus on customers means embracing a customer-centric approach to innovation by understanding the needs of customers, making provisions that protect customer interests and earn their trust," he added. He said that good governance will be key to durable and long term success of any company and in particular, the fintech players. Technological innovation has "unprecedented potential" to make finance more inclusive, competitive and robust, Das said, adding that advancements in technology need to evolve in a "responsible" manner. "Fintech players should themselves ensure responsible digital innovations. The Reserve Bank on its part will continue to drive the necessary regulatory and other policy measures to promote a vibrant and responsive fintech ecosystem," he said. While stressing that the coming years hold immense promise which need to be leveraged by innovators, the RBI chief said that as per projections, the fintech sector revenues are set to touch USD 200 billion by 2030. "We are at the cusp of a major transformation in fintech sector". Das also spoke about the progress on the Central Bank Digital Currency and said that newer use cases will be soon added on the wholesale CBDC front. The CBDC retail pilot is currently being operated through 13 banks across 26 cities, Das said, adding that around 1.46 million users and 0.31 million merchants are currently part of the pilot as on August 31, 2023. RBI has also enabled full inter-operability of CBDC with UPI QR codes, and is targeting 10 lakh CBDC transactions per day by December 2023 which will give it sufficient data points for analysis, Das said. Meanwhile, Srinivas Jain, the Co-Chairman of the Fintech Convergence Council, said it will be working earnestly to have an SRO in place at the earliest. "We are not on the same pages on who all from the fintech space can be members as currently this space is dominated by payments tech players but there are many others also in the fray," he told PTI.

RBI Governor asks fintech players to form self regulatory organisation

<ul><li>Manpower Employment Outlook survey revealed 89% of the employers facing struggle to fill vacancies in India.</li><li>The survey was conducted by interviewing around 3,406 employers in India to gain a perspective on the overall employment outlook in India in the fourth quarter of 2021.</li><li>The hiring plans are reportedly the strongest in seven years. Companies plan to increase hiring in the fourth quarter of 2021.</li></ul>A new survey by Manpower Employment Outlook revealed that despite several companies being on a hiring spree in India, 89% of the employers are facing a hard time in filling up vacancies. The major reason behind this is lack of skilled talent. <div type="image" title="Talent crunch" msid="86195509" hostid="261" caption="&amp;lt;p&amp;gt;Talent crunch across various sectors&amp;lt;/p&amp;gt;"></div> The hiring plans are reportedly the strongest in seven years. Companies plan to increase hiring in the fourth quarter of 2021. The sentiment marker for the Oct-Dec 2021 period is up 37% compared to the preceding three months and up 40% as compared to last year’s fourth quarter. The survey was conducted by interviewing around 3,406 employers in India to gain a perspective on the overall employment outlook in India in the fourth quarter of 2021. The recent spike in the use of technology, since the pandemic broke out, had led to a sharp rise in demand for engineers and tech-savvy talents. However, the new survey shows that the talent crunch extends beyond the tech vertical too. <div type="Video" msid="85123846" hostid="261" title="There was never a better time to be a techie in India" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=85123846"></div> The graph clearly shows the <keyword id="12092216" type="General" weightage="20" keywordseo="wholesale-and-retail-trade" source="Orion">Wholesale and Retail Trade</keyword> sector facing the maximum talent shortage with 95% followed by, <keyword id="6355267" type="General" weightage="20" keywordseo="mining" source="Orion">Mining</keyword> industry with 94% and then the <keyword id="12092217" type="General" weightage="20" keywordseo="transportation-and-utilities" source="Orion">Transportation and Utilities</keyword> sector with 91%. To fill the job vacancies, organisations are offering different incentives ⁠— 55% of them are offering training, skills development or monitoring, 49% offer more flexible work schedules, 41% offer increased wages, 25% lower job skills or experience requirements. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/zomato-co-founder-gaurav-gupta-exits-from-zomato/articleshow/86193568.cms">The sequence of events leading up to the exit of Gaurav Gupta from Zomato</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/google-apple-and-facebook-may-face-competition-from-ethereum-in-the-battle-for-user-data/articleshow/86194538.cms">Google, Apple and Facebook move aside — Ethereum is offering users control over their data with a new sign-in method</a>

It’s not just tech ⁠— there is a severe shortage of talent in these sectors

New Delhi, Ahead of the Budget 2021, the government has hinted at rationalization of various taxes in the <keyword id="45911" type="PERSON" weightage="20" keywordseo="Aviation-sector">aviation sector</keyword>, which is among the hardest hit by the Covid-19 induced economic meltdown. "We are working on a long-term plan to help the sector by rationalizing various taxes. We are looking forward to make the ecosystem smarter and more efficient to make the <keyword id="31907" type="COMPANY" weightage="20" keywordseo="Aviation">aviation</keyword> sector sustainable," said Usha Padhee, Joint Secretary, Ministry of Civil Aviation. Addressing a webinar on "Connecting the Dots-Recovery of aviation, tourism and hospitality" on Friday, she underscored the need for the sector to be geared for any challenges and said that policy rejig will also help it in the long run, if it is hit by a similar crisis in the future. The webinar was organised by Women in Aviation International - India Chapter. Highlighting the success of Udan scheme, she further added: "Though the pandemic has adversely impacted the aviation and allied sectors, yet we have managed to take steps towards recovery. We are systematically opening the air space for operations and the air bubbles have helped aviation sector to get 60% capacity of domestic sector back." She added that great solutions are borne out of crisis while delving into the fact how the industry has fast adapted to technology and transformed digitally. "The crisis has led to digital transformation for the aviation sector. Now we have 100% web check-ins and various technology driven solutions have been adopted to offer touchless experience to passengers," she quipped. Pre-Covid forecasts indicated that in 2036 aviation industry will provide 98 million jobs and generate $5.7 trillion in GDP. Post Covid, the situation has reversed completely throwing the industry in a state of flux. All commercial activities are now dependent on the recovery of aviation, tourism and hospitality industry. The webinar was also attended by Fang Liu - Secretary General of the <keyword id="159139" type="COMPANY" weightage="20" keywordseo="International-Civil-Aviation-Organisation">International Civil Aviation Organisation</keyword>. The panel also had industry leaders and experts - Dr. Naresh Trehan, Chairman and Managing Director at Medanta, Dr. Shefali Juneja - Representative of India at <keyword id="179332" type="COMPANY" weightage="20" keywordseo="International-Civil-Aviation-Organization">International Civil Aviation Organization</keyword> (first lady to be in this position), Kiran Jain - Chief Operating Officer at Noida International Airport (A Zurich Airport Company). Jain is also the first lady COO for an Indian airport. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-delivers-yet-another-strong-quarter-with-16-growth-in-profit-as-covid-drives-tech-spending/articleshow/80173561.cms">TCS delivers yet another strong quarter with 16% growth in profit as COVID drives tech spending</a> <a href="https://www.businessinsider.in/retail/news/dmart-the-nearly-two-trillion-dollar-indian-retailer-may-post-strong-earnings-watch-out-for-the-progress-on-e-commerce/articleshow/80172629.cms">DMart, the nearly two trillion dollar Indian retailer, may post strong earnings ⁠— watch out for the progress on e-commerce</a> <a href="https://www.businessinsider.in/business/startups/news/oyo-bags-a-7-4-million-cheque-as-pandemic-forces-ritesh-agarwal-to-reimagine-the-business/articleshow/80170847.cms">OYO bags a $7.4 million cheque as pandemic forces Ritesh Agarwal to reimagine the business</a>

Various Taxes may rationalize in Aviation Sector in Budget 2021

<ul><li>CBRE forecasts that <keyword id="12993910" type="General" weightage="20" keywordseo="retail-leasing" source="Orion">retail leasing</keyword> activity will hit 5.5-6 million square feet in 2023 – the highest since the 2019 peak. </li><li>Consumers prefer to examine products, seek salesperson support, driving in-store shopping experiences. </li><li>As online shopping grows, high cost of returns might drive brands to leverage store networks to offset costs. </li></ul>In spite of the rapid evolution of e-commerce, brick-and-mortar stores will remain at the heart of business, says a new report by real estate services firm CBRE. It forecasts retail leasing activity will hit 5.5-6 million square feet in 2023 – the highest since the 2019 peak of 6.8 million square feet. Ram Chandnani, managing director – advisory &amp; transactions services, CBRE India, said that retailers must be prepared and consider strategic investments amid rapidly changing consumer behaviour. Consumers’ preference for examining products, seeking support provided by a salesperson, real-time purchase and a layer of experience offered by brick-and-mortar stores — are the top reasons for retailers to engage customers in an in-store shopping experience. “While global headwinds could impact discretionary retail spending, cautious optimism among consumers along with diversified location and omnichannel sales strategies of retailers are likely to help the sector navigate the next normal,” said Chandnani. There are supply-side drivers too as a significant amount of pent-up supply is lined up for completion during 2023. Retail supply is estimated to touch 6 million square feet in 2023 – highest in the past five years, and primary leasing in newly completed malls will remain a key driver. Several investment-grade projects launched by reputed players in the past 1.5-2 years are also expected to become operational in 2023, the report said. “We believe that any impact of an expected slowdown on economic activity will be circumvented by strong macroeconomic fundamentals and domestic consumption. India’s strong domestic consumption would continue to strengthen the retail sector, which would see a strong supply pipeline in 2023, driving leasing activity,” said Anshuman Magazine, chairman &amp; CEO - India, South-East Asia, Middle East &amp; Africa, CBRE. Store networks to offset reverse logistics cost Listing out emerging trends, the report also said that <keyword id="10368252" type="General" weightage="20" keywordseo="omnichannel-strategies" source="Orion">omnichannel strategies</keyword> will remain the focus of retail strategies due to high cost of reverse logistics. “Online returns cause enormous stress on distribution networks, and reverse logistics cost for an average return can go up to 66% of the original sales price of the item,” said CBRE. As demand for online shopping continues to grow, retailers are likely to leverage store networks to offset the costs. The report also said that fashion &amp; apparel, homeware, and department stores are likely to lead leasing activity in 2023. Brands explore new locales, strategies Yet another trend is the willingness of most brands that have an existing customer base, to explore locations where retailers have used innovative concepts to draw a crowd. “In a bid to diversify their location strategies further, several international brands in the F&amp;B (food and beverage) and apparel segments are also opening stores along expressways or highways,” the report said. Brands are now open to exploring markets beyond popular urban locations. “India’s transition into an organised retail market would be driven by the continued growth in these cities. It would, thus, become vital for retail stakeholders to harness the economic and development potential of these cities,” CBRE said. Rising urban population, increase in per capita income, supply chain revamp after the pandemic and successful brand launches in Tier-II, III and IV markets have led retailers and prominent developers alike to explore emerging untapped markets, the report added. SEE ALSO <a href="https://www.businessinsider.in/advertising/brands/news/campa-has-to-go-beyond-invitation-price-to-build-the-brand-distribution-network/articleshow/99025480.cms">Campa has to go beyond invitation price to build the brand &amp; distribution network</a> <a href="https://www.businessinsider.in/business/news/millennials-want-the-security-of-their-own-roof-over-heads-finds-cbre/articleshow/98120129.cms">Millennials want the security of their own roof over heads, finds CBRE</a>

As stores remain at ‘heart of business’, retail leasing to hit a 4-year high in 2023: CBRE

New Delhi, May 14 () The organised private sector in India is planning to have major job cuts/layoffs due to the coronavirus pandemic and lockdown that have significantly impacted the economic activities, says a report. According to the latest results of MyHiringClub.com and Sarkari-Naukri.info Layoff Survey 2020, 68 per cent of the employers surveyed have either started the layoff process or are planning to. The online survey covered 1,124 companies across 11 industry sectors in 25 major cities. The survey was conducted between May 1 to May 10, 2020. Among the surveyed organizations, 73 per cent said they have plans to decrease the salary of employees, 57 per cent said this layoff is temporary, while 21 per cent said they are doing permanent layoffs for at least 2 years. Interestingly, 32 per cent employers did not have any job cut/layoff plans. "All industries are suffering in the current pandemic situation and the pain is now translating into layoff in every industry at every level. Companies are even cutting salaries of those employees whom they are planning to retain. "This crisis is very much temporary and once companies come out of this, new job creation and hiring will surely start," said Rajesh Kumar, CEO, MyHiringClub.com &amp; Sarkari-Naukri.info. Kumar further said "industries like aviation, hospitality, travel, FMCG, retail, automobile &amp; manufacturing will suffer more and will take longer duration to recover due to a halt in spending. Job cuts, salary reduction and business downfall are major reasons for spending less in the current situation." The survey noted that the percentage of layoff is highest in Retail &amp; FMCG sector at 49 per cent, followed by Hospitality / Aviation / Travel (48 per cent), Automobile / Manufacturing &amp; Engineering (41 per cent), Real Estate (39 per cent), Power Sector (38 per cent). As per the survey, employees with experience between 6-10 years are likely to witness highest number of layoff at 31 per cent, followed by those with experience between 11-15 years (30 per cent). For employees with more than 15 years of experience, the likely layoff percentage stood at 21 per cent, while for junior level employees (experience between 1-5 years), it was 18 per cent. The country is currently under a nationwide lockdown which was imposed in March to combat the coronavirus pandemic. The lockdown, extended twice, is scheduled to end on May 17. DRR ANUANU

COVID-19 Effect: Organised pvt sector planning layoffs, salary cut

<ul><li>The value of <keyword id="37885" type="General" weightage="20" keywordseo="cash" source="Orion">cash</keyword> withdrawals at ATMs using debit cards has not only recovered from the pandemic-induced lows but has also surpassed the pre-demonetisation levels by a substantial margin. </li><li>In April 2020, the value of withdrawals fell by 48.04% compared to March 2020 due to the initial wave of the pandemic. </li><li>In March 2023, debit card-based ATM cash withdrawals in India experienced a significant absolute growth of 235% compared to December 2016. </li></ul>In spite of spectacular growth in the UPI ecosystem, cash seems to hold on to its appeal, says a report by CMS Info Systems, a cash management and payment solutions firm. As of 2021, India had $421 billion <keyword id="3906070" type="General" weightage="20" keywordseo="cash-in-circulation" source="Orion">cash in circulation</keyword>. That year, cash in circulation grew at 7.95% — that’s the third-highest annual growth after the United Kingdom and China. As of 2021, 70% of account holders in India paid cash for merchant payments in 2021, the CMS India <keyword id="17507221" type="General" weightage="20" keywordseo="cash-vibrancy" source="Orion">Cash Vibrancy</keyword> Report 2023 said. For context, the latest numbers for UPI transaction data which is available for FY23 shows enormous growth. According to data by NPCI, UPI payment system processed 83 billion transactions in FY23 — amounting to a <a href="https://www.bqprime.com/economy-finance/upi-processed-transactions-worth-rs-139-lakh-crore-in-fy23">massive ₹139 lakh crore</a>. Cash coexists alongside digital payments In FY23, the transportation, organised retail, and BFSI sectors observed average annual increases of 36.89%, 14.44%, and 5.6% in cash collection per <keyword id="17507220" type="General" weightage="20" keywordseo="retail-cash" source="Orion">retail cash</keyword> management (RCM) point, respectively. Notably, the transportation sector demonstrated 1.38 times higher average cash collection per RCM point, indicating the reopening of the economy post the Covid-19 pandemic. Furthermore, the discretionary sector witnessed a rise in monthly RCM collections during the wedding and festive seasons in October-November 2021 and May-June 2022. RCM is short for retail cash management. “Despite the increasing adoption of digital payments in India, factors such as a significant unbanked population, cultural influences, infrastructure limitations, and slower progress in financial and digital literacy contribute to the continued relevance and vibrancy of cash. As a result, cash coexists alongside new-age technology solutions for payments and settlements,” the report said. Cash withdrawals at ATMs recover from pandemic-induced lows In March 2023, debit card-based ATM cash withdrawals in India experienced a significant absolute growth of 235% compared to December 2016 — which was the lowest monthly withdrawal following the demonetisation drive in November 2016. During the initial wave of the Covid-19 pandemic, cash withdrawals witnessed a substantial decline. In April 2020, the value of withdrawals fell by 48% compared to March 2020. A similar impact was observed in May 2021 during the second wave of the pandemic, although the decline was comparatively lower at 20.6% compared to April 2021. However, there has been a strong recovery in debit card-based ATM cash withdrawals since then. In March 2023, the value of withdrawals reached ₹2.84 lakh crore — reflecting absolute growth of 121.33% and 40.88% compared to April 2020 and May 2021, respectively. Overall, the value of cash withdrawals at ATMs using debit cards has not only recovered from the pandemic-induced lows but has also surpassed the pre-demonetisation levels by a substantial margin, the report said.

Cash remains king in India, co-exists alongside digital modes of payment

(Eds: Changing headline ) New Delhi, May 14 () The organised private sector in India is planning to have major job cuts/layoffs due to the coronavirus pandemic and lockdown that have significantly impacted the economic activities, says a report. According to the latest results of MyHiringClub.com and Sarkari-Naukri.info Layoff Survey 2020, 68 per cent of the employers surveyed have either started the layoff process or are planning to. The online survey covered 1,124 companies across 11 industry sectors in 25 major cities. The survey was conducted between May 1 to May 10, 2020. Among the surveyed organizations, 73 per cent said they have plans to decrease the salary of employees, 57 per cent said this layoff is temporary, while 21 per cent said they are doing permanent layoffs for at least 2 years. Interestingly, 32 per cent employers did not have any job cut/layoff plans. "All industries are suffering in the current pandemic situation and the pain is now translating into layoff in every industry at every level. Companies are even cutting salaries of those employees whom they are planning to retain. "This crisis is very much temporary and once companies come out of this, new job creation and hiring will surely start," said Rajesh Kumar, CEO, MyHiringClub.com &amp; Sarkari-Naukri.info. Kumar further said "industries like aviation, hospitality, travel, FMCG, retail, automobile &amp; manufacturing will suffer more and will take longer duration to recover due to a halt in spending. Job cuts, salary reduction and business downfall are major reasons for spending less in the current situation." The survey noted that the percentage of layoff is highest in Retail &amp; FMCG sector at 49 per cent, followed by Hospitality / Aviation / Travel (48 per cent), Automobile / Manufacturing &amp; Engineering (41 per cent), Real Estate (39 per cent), Power Sector (38 per cent). As per the survey, employees with experience between 6-10 years are likely to witness highest number of layoff at 31 per cent, followed by those with experience between 11-15 years (30 per cent). For employees with more than 15 years of experience, the likely layoff percentage stood at 21 per cent, while for junior level employees (experience between 1-5 years), it was 18 per cent. The country is currently under a nationwide lockdown which was imposed in March to combat the coronavirus pandemic. The lockdown, extended twice, is scheduled to end on May 17. DRR ANU

Organised pvt sector plans layoff, salary cut amid COVID-19 crisis: Report

<ul><li>Reversing the job-hopping trend, 47% of employees said in a survey that they don't plan to switch jobs in 2023. </li><li>Over 37% of all job seekers are looking to prioritise career growth in 2023, said a survey by Indeed. </li><li>Only 53% of employers surveyed said that they hired in the January-March quarter as compared to 64% in the quarter before. </li></ul>The era of the <keyword id="12242899" type="General" weightage="20" keywordseo="great-resignation" source="Orion">Great Resignation</keyword> seems to be coming to an end, especially in India. According to a recent survey by job portal Indeed, almost half or 47% of employees say that they don't plan to switch jobs in 2023. “Employees are bucking the trend by choosing to stay put in their current organisations, with over 37% of all job seekers looking to prioritise their career growth in 2023,” the survey which was released on Monday, said. This could be a direct effect of the fact that hiring sentiment has dropped significantly in the last three months. Only 53% of employers said that they hired people in the January-March quarter compared with 64% in the October-December quarter. “Amidst the ongoing uncertainties, the overall sentiment of jobseekers and employers seems to be cautious,” said Sashi Kumar, head of sales at Indeed India. Banking and financial services hire the most Even in times of slim hiring, the banking and financial services and insurance (BFSI) sector witnessed the most significant hiring – 71% of the sector’s employers hired during the January-March quarter. The other two sectors that saw the most hiring are healthcare (64%), and construction &amp; real estate (57%). Apart from slow hiring in the IT and IT-enabled services sector – where only 29% of employers hired, hiring in manufacturing was also low at 39%. “Sectors like BFSI and healthcare are witnessing significant hiring, showcasing a strong future for these areas. Additionally, in 2023, the acceptance of the gig economy at large is also expected to strengthen the job market. Employers now need to focus on devising ways in which they can retain and continue to attract this talent pool,” said Kumar. The findings further suggest that there was a substantial increase in the proportion of employers hiring for mid-level – hitting 27% during the quarter, up from 23% last quarter. Senior-level roles too went up to 12% as compared to 9% last quarter. The proportion of job seekers entering the job market for the first time has also risen to 23% from 16% in the previous quarter. Wanted: <keyword id="1953822" type="General" weightage="20" keywordseo="retail-sales-associates" source="Orion">Retail sales associates</keyword> The job that was most in demand in the January to March quarter was that of retail sales associate, as per 41% of all employers. This was followed by the role of project engineer, which was preferred by 23%, and marketing analysts, sought by 20% of employers. “In terms of the most-hired skills in the current quarter, tech skills such as SQL, NoSQL &amp; MongoDB, APIs, CCNA, CCNP, Zigbee, WiSUN, and Z-Wave are the top skills being sought after by employers. Communication, critical thinking, problem-solving and decision-making are the top three soft skills that employers are looking for,” the report said. The quarter saw most of its hiring in the functional areas of production/manufacturing (31%) followed by sales at 29%, and marketing at 27%. Employees who seem to have shed their pandemic love for working from home, also want to head back to offices. The Indeed survey said that 57% of job seekers now want to <a href="https://www.businessinsider.in/careers/news/missing-chai-breaks-more-80-indian-employees-back-to-office-by-choice-says-linkedin-survey/articleshow/98936364.cms">work out of the office</a>. SEE ALSO <a href="https://www.businessinsider.in/careers/news/missing-chai-breaks-more-80-indian-employees-back-to-office-by-choice-says-linkedin-survey/articleshow/98936364.cms">Missing chai breaks &amp; more, 78% Indian employees back to office by choice says LinkedIn survey</a> <a href="https://www.businessinsider.in/business/news/samosas-versus-burgers-the-great-indian-dilemma/articleshow/99488590.cms">Samosas versus burgers: The Great Indian Dilemma</a>

You Searched For "organised retail sector" and got 13 results

Budget import duty cut will boost gold jewellery retailers' revenues by 22-25% this fiscal, notes CRISIL report

ANI

Gold prices drop by Rs 5,000/10gm post Budget; bring cheers to retail investors

PTI

Benefiting from strong sales, gold jewellers set for 17-19% revenue growth in 2024-25: Crisil

ANI

India's gold loan market set for rapid growth amid rising prices; unorganized sector holds 63% share, notes recent PwC report

ANI

India's retail sector to more than double to $2 trillion in next decade says BCG report

PTI

RBI Governor asks fintech players to form self regulatory organisation

PTI

It’s not just tech ⁠— there is a severe shortage of talent in these sectors

Vaamanaa Sethi

Various Taxes may rationalize in Aviation Sector in Budget 2021

IANS

As stores remain at ‘heart of business’, retail leasing to hit a 4-year high in 2023: CBRE

Katya Naidu

COVID-19 Effect: Organised pvt sector planning layoffs, salary cut

PTI

Cash remains king in India, co-exists alongside digital modes of payment

Anagh Pal

Organised pvt sector plans layoff, salary cut amid COVID-19 crisis: Report

PTI

Not the time for job hopping, most Indians plan to stay put this year: Indeed

Katya Naidu

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