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The Reserve Bank is unlikely to ease the benchmark policy rate from 6.5% during 2024, given the persisting uncertainty over <keyword id="19999654" type="General" weightage="20" keywordseo="food-inflation" source="keywords">food inflation</keyword>, State Bank of India (<keyword id="19898108" type="General" weightage="20" keywordseo="SBI" source="keywords">SBI</keyword>) chairman C S Setty has recently said. The US Federal Reserve's first cut in <keyword id="20071327" type="General" weightage="20" keywordseo="interest-rate" source="keywords">interest rate</keyword>s in more than four years happened today, triggering central banks in other economies to follow suit. The Fed trimmed the interest rates by 50 basis point trim to its target interest rate range to 4.75-5%. "On the rate front, a lot of central banks are taking independent calls. While Fed rate cut would influence everyone, <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword> would be mindful of the food inflation before taking a call on interest rate cut," Setty, who recently took over the reins of the bank, was noted as saying. "Our view is also that the rate cut during the current calendar year may not happen. Probably, we may have to wait for Q4 (January-March 2025) unless there is a good improvement in terms of food inflation," he added. Notably, RBIs <keyword id="19913109" type="General" weightage="100" keywordseo="Monetary-Policy-Committee" source="keywords">Monetary Policy Committee</keyword> (MPC), headed by RBI Governor Shaktikanta Das is scheduled to meet next month, between October 7-9 and take a call on interest rate. The committee will largely take <keyword id="19999652" type="General" weightage="20" keywordseo="retail-inflation" source="keywords">retail inflation</keyword>, which inched to 3.65% in August, up from 3.54% in July, into account for making rate-related decisions On the other hand, India's wholesale price index (WPI) eased to 1.31% on an annual basis, which is also a 4-month low, down from 2.04% in July. The data, released recently by the government, also highlighted the stickiness of food price inflation, which stood largely undeterred at 3.11% in August, as compared to 3.45% in July. Although WPI rates do not directly impact RBIs decision making, it does affect the retail inflation rates, although it takes time to reflect the same. Says Rahul Agrawal, Senior Economist at ICRA Ltd, “The <keyword id="20198768" type="General" weightage="20" keywordseo="WPI-inflation" source="keywords">WPI inflation</keyword> eased to a four-month low in August 2024, with the fuel and power, core (non-food manufacturing), and crude petroleum and natural gas sub-groups together pulling down the headline WPI print by as much as 70 bps in the month vis-à-vis July 2024. The core WPI inflation dipped to 0.7% in August 2024 from 1.2% in July 2024, amidst a continued softening in global commodity prices. "While prices of most food items have eased further on a month-on-month basis in September 2024, an adverse base would push up the YoY inflation prints for the primary food articles category significantly in the ongoing month, exerting upward pressure to the headline WPI inflation print for September 2024", said Agrawal. The price of the Indian basket of crude oil has averaged 6.0% lower in September 2024 on a sequential basis, touching the lowest levels in 33 months, which would also help contain the uptick in the headline WPI inflation print in the month. We anticipate WPI to touch the 2.0% in September 2024 from 1.3% in August 2024", he continued. Amongst the food articles whose prices dipped during the month were cereals (8.44%), paddy (9.12%), pulses (18.57%) and onions (65.75%), it did little to tame inflation, which continued to stay put in double digits. On the other hand, prices of potato (77.96%) and fruits (16.7%) inched up. The dip in WPI was largely led by slowdown in prices of manufactured food products (3.61%), beverages (1.9%), pharmaceuticals (1.97%) and petrol (4.23%). "While there may not be a one-to-one correspondence between the WPI and the CPI data because of the items, size, number, and relative weights assigned, the CPI data will also down-trend in sync with the RBI’s medium-term target of 4 % for the second time in nearly five years. However high food prices will induce the RBI to be wary", notes Manoranjan Sharma, Chief Economist, Infomerics Ratings.

RBI unlikely to cut interest rate in 2024, food inflation to be deciding factor, says SBI chief Setty

In April, the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) governor Shaktikanta Das referred to <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> as the ‘elephant in the room’. He said, “The elephant has now gone out for a walk and appears to be returning to the forest. We would like the elephant to return to the forest and remain there on a durable basis… Elephant moves slowly, and last mile inflation tends to be sticky.” On Friday, the Indian government data showed that the year-on-year inflation rate based on the Consumer Price Index (<keyword id="20468215" type="General" weightage="20" keywordseo="CPI" source="keywords">CPI</keyword>) for June 2024 stood at 5.08 per cent — rising from 4.75% last month. This was the first time the headline inflation had risen since December 2023! Looks like the elephant decided to stop and look back on its way to the forest. The question remains, what’s next — will it return to the forest or return to the room to haunt us again? <h2>Food price inflation at a record high</h2> The major driver for the higher inflation figures this month has been the rising <keyword id="19960157" type="General" weightage="20" keywordseo="food-prices" source="keywords">food prices</keyword> across India. In fact, food price inflation almost doubled year-on-year in June, rising to 8.36 per cent last month compared to 4.63 per cent in June 2023. Inflation in the food basket was 9.36 per cent in June, up from 8.69 per cent in May, according to the data of the National Statistical Office (NSO). Government data showed that <keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">retail inflation</keyword> for all food segments, including cereal, meat, eggs, milk, oils, fruits, vegetables, pulses, sugar, spices, prepared snacks, and sweets, increased month-on-month. This was the main cause for retail inflation hardening in June, diverging from the previous months' moderation. While the inflation rate based on the all-India CPI for June 2024 stood at 5.08%, rural and urban inflation rates also spiked to 5.66 per cent and 4.39 per cent, respectively. “Barring the food basket, inflation is indicating signs of bottoming out broadly across the non-food categories, also seen in the inflation in the core categories averaging at 3.5% in the last six months. A stable monsoon will play an important role in stabilising food prices and inflation levels over the next few months,” said Vivek Rathi, National Director Research, Knight Frank India. In May, annual retail inflation was at a 12-month low of 4.75%, slightly down from April's 4.83%. In December last year, retail inflation stood at 5.7 % and had been moderating until June. On the other hand, the US CPI rose only 3% on an annual basis in June versus expectations of 3.2%. Month-over-month, the US CPI declined 0.1%, on expectations for a 0.1% rise. <h2>There goes the chance of an early rate cut?</h2> While European central banks started to cut interest rates last month, hopes of such policy moves seem to have been derailed by these inflation figures. Indian central bank, RBI, has remained cautiously focused on inflation as the growth prospects remained robust. It has been waiting for the final phase of disinflation to materialise before considering rate cuts. The situation, however, does seem rather peculiar — as long as inflation does not align with the central bank's 4% target, the interest rates may remain rather high. However, the current economic environment is not gloomy at all, characterized by a robust GDP growth rate, estimated at 8.2% for 2023-24. Hence, the RBI adopts a wait-and-see approach. And the wait is likely to continue a little while longer. This year, food prices have become a significant issue for policymakers in India, and the RBI governor pinned his hopes on a good monsoon season to alleviate the food price inflation concerns. So far, the monsoon has stood up to our expectations, yet the food prices have remained stubbornly high, mainly due to extended heat wave conditions in June. "The CPI inflation came marginally higher than our expectations. While the <keyword id="67286" type="General" weightage="100" keywordseo="food-inflation" source="Orion">food inflation</keyword> risks will continue to dominate in the near term, we expect better sowing patterns and spatial distribution of rains to eventually ease the price pressures beyond these volatile months. Having said that, the central bank will be in no hurry to ease <keyword id="20104157" type="General" weightage="20" keywordseo="monetary-policy" source="keywords">monetary policy</keyword> given the headroom from robust growth in the backdrop of near-term inflation risks," said Upasna Bhardwaj, Chief Economist at Kotak Mahindra Bank. India's retail inflation remains within the Reserve Bank of India's (RBI) comfort range of 2-6% but exceeds the ideal 4% scenario. While inflation is a global concern, India has so far managed its inflation trajectory relatively well. Since May 2022, the RBI has raised the repo rate by 250 basis points cumulatively to combat inflation. However, over the last eight policy cycles, the central bank has kept the rates consistent at 6.5%. The next monetary policy meeting of the RBI is scheduled for early August. And with the higher-than-expected inflation data, the central bank is likely to keep the rate unchanged next month as well for the ninth consecutive month. However, hopes are still alive for a rate cut towards the end of the year. "We are not ruling out a stance change in October 2024 and a 25 bps rate cut each in December 2024 and February 2025, followed by an extended pause, if the food inflation outlook turns decidedly favourable on the back of a normal magnitude and favourable distribution of rainfall in the rest of the monsoon season, and there are no other shocks, either global or domestic," said Aditi Nayar, Chief Economist at ICRA. (With inputs from ANI and PTI) <div type="Article" hostid="261" msid="110784179" title="Monetary Policy Committee keeps repo rate unchanged at 6.5%, confirms RBI governor Shaktikanta Das" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div> <div type="Article" hostid="261" msid="110788776" title="RBI retains inflation projection for FY25 at 4.5%" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div>

Inflation spikes in June 2024 due to high food prices; Likely to affect RBI’s decision on interest rate

<ul><li>The outbreak of coronavirus has affected our daily routines. To ease our loneliness and boredom, we have turned to our furry companions who emerged as the brightest ray of light in our lives in the past two years.</li><li>As a result, India has seen an increase in pet adoption in the pandemic, with demand for dogs, cats, and other furry friends.</li><li>We speak to leading pet care brands in India to find out how this surge in adoption has translated into increased demand for pet food and care after the pandemic, how brands are increasing their marketing spends to leverage this demand, and a few trends that we can expect to see in the category as we move forward.</li></ul>Working from home has taken a toll on our mental health. Mounting uncertainty, work pressure and the physical stress of sitting in one position for hours has led to changes in our lifestyle and sleep patterns, which has added to the stress. However, for a fortunate few, our four-legged companions have been a bright, silver shining ray of light in our lives. Pets have provided a great source of comfort during these testing times and have rescued us from the uncertainty looming around. They have also helped foster a deeper connection between family members, pushed us to go out on a walk for some fresh air, put a smile on our faces by interrupting Zoom calls, and prepare for the big fight against COVID. As a result, India has seen an increase in pet adoption in the pandemic, with demand for dogs, cats and other furry friends as citizens looked for simple ways to ease loneliness and boredom. As per latest data shared by <a href="https://www.petex.in/petcaremarketinindia.htmlhttps://www.petex.in/petcaremarketinindia.html">Petex</a>, India is the fastest-growing pet care market in the world. After seeing a push due to the pandemic, it is expected to grow at 14% annually to become a $490 million (₹33000 million) market by 2022 and Pet food market alone is projected to cross $310 million (₹20000 million) by 2022. MARS Petcare currently generates $40 billion in annual sales globally and houses the biggest pet food and care brands like Whiskas, Pedigree, Royal Canin, Pet Partners, to mention a few, and has witnessed an upsurge in new customers after March 2020. In a Euromonitor research report from 2019, it was reported that MARS Petcare maintains its leadership through brand Pedigree in India. Telling us how the market has changed lately, Ganesh Ramani, Managing Director, <keyword id="12204844" type="General" weightage="20" keywordseo="mars-petcare-india" source="Orion">MARS Petcare India</keyword> said, “During the pandemic, the brand saw an upsurge in pet parents entering the category. The demand for pet products towards the end of the year was much more than what the normal used to be during pre-COVID. The fact that pet parents have spent a lot more time with their pets during the lockdown and work from home phases, it led to parents indulging into a lot of products. Additionally, a lot more people, especially those who live alone, have adopted pets over the last few months. The brand has also encouraged the adoption of pets via various campaigns and activities under the Pedigree and Whiskas brands.” Petcare brand Supertails, which caters to all pet care needs, saw an increase in demand for vet consultations. It is doing more than 2000 consultations every month. Varun Sadana, Co-founder of Supertails, shared, “During the pandemic, people faced anxiety, depression, mental health issues and that was the period when pets played a crucial role in their life to get over the struggle. The pet adoption rate is above 10% with the GenZ contributing to the new pet parents population. At an overall level, the market has increased more than 20% CAGR in the last 2 years of the pandemic. Some brands like Purina have talked about 80%+ growth in the last year itself. Also, considering a large set of new pet parents are GenZ, there is a want of so much information and curiosity of being updated in pet parents. This is the first generation which is looking at pet parenthood rather than pet ownership. We expect the dog adoption rate to increase upwards of 15%.” Heads Up For Tails has witnessed a surge in demand for pet food and pet care products like grooming products, toys, walk accessories. Egro, it has been focusing on casting a wider net to attract more consumers. Rashi Sanon, Founder, Heads Up For Tails said, “We do have several new products planned to cater to customer demand. That being said, we also hope to expand our customer reach through new stores. Currently, we have 41 stores across the country, we have 8 more in the pipeline so we can connect with more pets and their families. Additionally, we’re focusing on building relevant content and an engaged community of pet people. We’re also keen on continuing product innovation alongside online growth and retail expansion.” To leverage this demand, pet care brands are leaving no stone unturned to reach out to pet parents through engaging content. They have increased their focus on e-commerce channels to expand their digital ‘paw-print’ and are spending more on digital media and TV to connect with paw-some parents. According to exclusive data shared by TAM AdEx with Ad and Media Insider, the animal feed category, which includes all kinds of animal food, saw an uptick in TV and digital spends. During July to September 2021, TV dominated the animal feed category in terms of ad insertions followed by digital and print. <div type="image" title="tam - animal care" msid="86617236" hostid="261"></div> TAM’s report further revealed that Pet Essentials, Mars International India and Hills Pet Nutrition were among the top three advertisers on digital media during April to June quarter of 2020 and 2021. Mars International also had a 29% share in print ads and 10% on TV from the overall animal feed sector in 2021. <div type="image" title="mars - ad share" msid="86617254" hostid="261"></div> Trends in Pet Care Category Pet care brands told us that pet parents are now asking and Googling for the right food and nutrition and parenting techniques and doing a lot for their pet’s overall wellness. “Pet parents are being more mindful of the kind of products they’re using for their pets. They’re asking more questions and learning more about the specific products and lifestyles their pets need. They’re certainly opting for products with more organic ingredients, products that are being made sustainably and so on,” said Sanon. Wiggles.in's Founder and CEO, Anushka Iyer, told us that pet parents are also looking for plant-based options now. "Wiggles.in predicts an upward surge in CBD-based products such as Pain Relief Therapy Oils and CBD infused treats to tackle pain management in senior pets since the global CBD pet products market is anticipated to witness a CAGR of 41.3% during the forecast period from 2021 to 2026. Immunity-boosting probiotic, gut-healthy strips that dissolve in the pet’s mouth are trending and disrupting the traditional pill-administering format, confirm veterinarians. Pet grooming products that include probiotics are evolving into an upcoming segment. Since 20% of the population is vegetarian in India, pet parents are insisting on vegan or plant-based pet food for their pets. Mental health in pets is gaining prominence, hence anxiety training in pets especially curated for anxious pets is leading. Pet insurance and cashless hospitalization, when it comes to injuries or accidents in pets, is a new category that prominent finance houses are delving into," said Iyer. As per Ramani, a lot of metro pet parents have moved to their native cities taking their pet along or adopting a pet in their hometown, which contributes to the rest of urban and smaller towns growing faster. This has pushed pet care brands to focus more on strengthening their presence across the country through e-commerce channels. “As a part of the changing buying behaviors observed during the pandemic, the brand also started distributing their products through grocery marketplaces like Amazon, Dunzo, Big Basket and Petshop online portals. While e-commerce continues to be a critical channel for the brand to bridge the distribution gap, Whiskas is also slowly expanding to new cities and markets across the country,” said he. Listing a few other trends that he is expecting to see in the pet care category in near future, Ramani added, “1. Increase in ownership of cats, adoption of street cats &amp; purchase of breed cats, 2. Increase in spends on MPF and additional discretionary spends on treats, 3. Significant increase in cat-friendly spaces, spa’s and other grooming products, and 4. Increase in activists supporting stray cats in terms of feeding, vaccinations, care, etc. Pet care brands also changed their marketing strategy to connect with consumers. Some people have reservations about adopting cats due to negative associations or superstitions, especially when it comes to caring and nurturing felines. Whiskas’ launched a new campaign that aimed at educating cat parents to reinforce how cats are cute and curious, not with any of the vile, stereotypical and unfavorable qualities associated with them. Supertails, on the other hand, is now preparing for a campaign for world rabies day, considering India is the largest country affected by rabies. As these newly-adopted pet babies during the pandemic grow bigger, their food requirements will also increase. Experts are, therefore, hoping to see a prolonged demand for pet adoption, food, care and nutrition and are looking at using the right marketing tools to further encourage pet adoption and the right amount of care.

As more people adopt furry companions in India, pet care brands are upping their marketing game and expanding their e-commerce presence to connect with consumers

<ul><li>High vegetable inflation, driven by hardening onion prices, has kept food inflation at 8.66% in February.</li><li>With low reservoir levels in many states, food inflation in FY25 is expected to be driven by monsoons, say experts.</li><li>The RBI is focused on bringing inflation below 4% and might continue the status quo for a longer time now, believe experts. </li></ul>In February, retail inflation came in on expected lines at 5.09%. However, high vegetable inflation, driven by hardening onion prices has kept food inflation up at 8.66%. Experts now believe that the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) which has been focussed on bringing inflation to 4%, will maintain the status quo in the upcoming credit policy. “We expect inflation to average 4.8% in FY25. Given that the RBI Governor has been highlighting the aim of getting inflation to 4% on a durable basis, the policy rates are likely to be kept on hold in the upcoming policy meeting, with no change in stance,” said <keyword id="20938330" type="General" weightage="20" keywordseo="rajni-sinha" source="keywords">Rajni Sinha</keyword>, chief economist, CareEdge Ratings. Regulator to continue cautious stance Despite expectations from the market, the RBI has maintained its ‘withdrawal of accommodation’ stance in the last policy meeting in February. This policy, aiming to curtail inflation further, entails a reduction of easy money supply in the system, which started during the initial COVID-19 phase. RBI governor <keyword id="19913110" type="General" weightage="20" keywordseo="shaktikanta-das" source="keywords">Shaktikanta Das</keyword> had also earlier spoken about the risk of food inflation spilling into broader inflation. “We retain our view that RBI will remain cautious on volatile food inflation trajectory and hence prefer to remain in pause mode on rates till August policy. However, with RBI already having continuously fine-tuning liquidity and easing overnight rates closer to the repo rate, we see room for a shift in stance in the June policy,” said <keyword id="20169699" type="General" weightage="20" keywordseo="upasna-bhardwaj" source="keywords">Upasna Bhardwaj</keyword>, chief economist at <keyword id="19938495" type="General" weightage="20" keywordseo="kotak-mahindra-bank" source="keywords">Kotak Mahindra Bank</keyword>. Agrees Akhil Mittal, Senior Fund Manager-Fixed Income, <keyword id="20929846" type="General" weightage="20" keywordseo="tata-asset-management" source="keywords">Tata Asset Management</keyword>, “We anticipate the regulator to maintain a cautious stance. We think RBI would rather continue with stability priority and continue maintaining the 4% inflation target as sacrosanct, and hence we do not see a premature easing from RBI.” Vegetable inflation zooms, pulses in a tough zone Vegetable inflation came in high at 30.3% in February, and experts believe that pricey onions will keep food inflation elevated. Inflation in pulses, spices and eggs also saw double-digit inflation. Edible oils and fats have brought down inflation to an extent with negative growth. The food basket has nearly 50% weightage in the consumer price inflation (CPI) data. “Inflation is purely a food inflation-driven phenomenon which will continue to pressurise inflation in the coming months. Besides, horticulture output this year is expected to be lower than last year. Cereals, eggs, sugar, spices and pulses are the other pain points here,” comments <keyword id="20102121" type="General" weightage="20" keywordseo="madan-sabnavis" source="keywords">Madan Sabnavis</keyword>, chief economist at Bank of Baroda. The outlook for food prices is also bleak with lower reservoir levels and their impact on agricultural output. “The ongoing high inflation in specific food categories, including cereals, pulses, spices, and vegetables pose a risk of potentially broadening price pressures and de-anchoring inflationary expectations. Reservoir levels, particularly in eastern and southern India, persist at lower levels. Consequently, the forthcoming monsoon in FY25 holds significant importance for the trajectory of food inflation,” said Sinha. Core inflation has however remained soft, staying below the 4% threshold for three consecutive months. Rural inflation came in higher at 5.3%, while urban inflation is at 4.8% — mostly due to higher weightage of food products in the former index. Twelve of India’s 22 states saw inflation of above 5.1%. Odisha had the highest at 7.6%, while Delhi saw the lowest at 5.3%.

RBI likely to maintain status quo after food inflation keeps Feb print high, say experts

<ul class="summary-list"><li>A total solar <a target="_blank" rel="" href="https://www.businessinsider.com/solar-eclipse-map-nasa-where-when-see-path-of-totality-2024-3">eclipse will be visible</a> in North America today.</li><li>Animals may start acting weirdly as the moon blocks out the sun. </li></ul>For millions of people across North America, day will turn into night on Monday as <a target="_blank" rel="" href="https://www.businessinsider.com/mind-boggling-nasa-photo-shows-moon-distance-from-earth-2022-10">the moon</a> crosses between the Earth and the sun.While most of us are expecting the <a target="_blank" href="https://www.businessinsider.com/total-solar-eclipse-rare-phenomena-to-watch-2024-3">upcoming solar eclipse</a>, wild animals and pets are blissfully unaware of the rare cosmic event.As we turn our <a target="_blank" href="https://www.businessinsider.com/solar-eclipse-map-nasa-where-when-see-path-of-totality-2024-3#what-the-purple-and-yellow-lines-mean-4">eyes to the sky</a> (protected by <a target="_blank" href="https://www.businessinsider.com/how-to-watch-solar-eclipse-safely-without-glasses-2024-4">appropriate sunwear</a>) and everything goes dark, animals may start behaving strangely — although scientists aren't quite sure what to expect.Reports during previous eclipses have told tales of giraffes going crazy, turtles mating, and dogs cowering.But that evidence "could reasonably be regarded as anecdotal from a scientific perspective," Adam Hartstone-Rose, a professor of Biological Sciences at North Carolina State University who studied this topic, told <a target="_blank" href="https://www.sciencefocus.com/nature/weird-animals-eclipse">BBC Science Focus</a>.Here are some behaviors spotted during previous solar eclipses, and what scientists will be looking out for this time around.<h2>Birds may fall silent</h2>Hartstone-Rose and colleagues studied animal reactions at the Riverbanks Zoo in Columbia, South Carolina, <a target="_blank" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7222787/">during the 2017 eclipse</a>. Among 17 species they studied, they found some trends that we can expect will pan out during this eclipse.One is that animals will start their bedtime routines as the world goes suddenly dark,Previous studies have for instance suggested that birds will fall suddenly silent or start to roost, <a target="_blank" href="https://www.nytimes.com/2024/04/04/us/solar-eclipse-animals-pets-zoo.html">per The New York Times</a> — though other studies suggested they continued to sing, the Times reported.Honeybees may also be seen tucking themselves into their hives, while moths and nighttime-migrating birds may take flight, according to <a target="_blank" href="https://news.syr.edu/blog/2024/04/02/experiencing-the-solar-eclipse-from-an-animals-perspective/#:~:text=By%20and%20large%2C%20researchers%20have,as%20most%20cicadas%2C%20may%20stop">a post</a> from the University of Syracuse.Night-time vocalists like crickets and frogs, on the other hand, might see this as their time to shine, and their noises may start to rise as the eclipse reaches totality.<h2>Some animals may show signs of anxiety</h2>Another category of behaviors Hartstone-Rose spotted during 2017 the eclipse is stress.One example, said the professor, is among giraffes."During the peak of the eclipse, the giraffes started running around like crazy and in a potentially dangerous way," Hartstone-Rose told BBC Science Focus. "In the wild, giraffes are pretty calm animals; they're kind of gangly and delicate. They really don't do crazy behavior unless they need to, and so the only time I've ever seen giraffes running around is if they're startled by a predator or maybe a vehicle or something like that," he said.Thankfully, that behavior subsided as soon as the eclipse ended, he said.Dogs have also been reported to look nervous during eclipses, some whimpering, some falling silent, <a target="_blank" href="https://www.nytimes.com/2024/04/04/us/solar-eclipse-animals-pets-zoo.html">per The Times</a>.That may be more related to seeing their owners gathering in groups, sharing their excitement, and looking up at the sky in mass, than anything else, M. Leanne Lilly, a veterinary behaviorist at Ohio State's College of Veterinary Medicine, told The Times."That can make any of our domestic animals feel like things are not as safe and predictable as they are supposed to be," said Lilly.The anxiety response to eclipses is "a bit more mysterious," said Hartstone-Rose to The Guardian."It could be the animals are aware of some kind of disparity going on. If it all of a sudden seems dark, my dog, who is very food motivated, would worry we'd forgotten a meal for him, so that might be going through some of these animals' heads," he said.<div type="image" title="Giraffe" height="2244" width="3500" msid="109135698" hostid="261" sizebytes="877508"></div><h2>Tortoises may start mating</h2>Among the most bizarre reactions Hartstone-Rose and colleagues spotted during the 2017 solar eclipse in the Riverbanks Zoo was a pair of particularly amorous Galapagos tortoises."They started mating behavior. They literally started breeding in front of our eyes," he told BBC Science Focus.Other animals also started acting out. A male gorilla charged a glass enclosure and flamencos grouped closer together,<a target="_blank" href="https://www.theguardian.com/science/2024/apr/07/eclipse-animal-behavior"> The Guardian reported.</a>Some siamang gibbons started screaming and barking in a way that had never been recorded before, per the BBC."We were able to statistically show that the vocalizations during the eclipse were significantly different than any other time we had ever been able to record their vocalization," Hartstone-Rose told the BBC. "That was pretty remarkable."<h2>Scientists are jumping on the opportunity to study eclipse animal behavior</h2>While these behaviors provide a rare snapshot of how sudden darkness can affect animals, there are surprisingly few studies looking at animal behavior during a solar eclipse, according to the University of Syracuse.Among the reasons for this are that eclipses are rare, and short-lived, and studying the widespread behavior of animals is notoriously difficult.Still, scientists have been gearing up to gather as much information as they can during the approximately <a target="_blank" href="https://www.cbsnews.com/news/solar-eclipse-2024-times/#:~:text=Within%20the%20path%20of%20totality%2C%20darkness%20will%20fall%20for%20a,for%20more%20than%20two%20hours.">four minutes</a> the eclipse is due to last.One such study is NASA's citizen science <a target="_blank" class="zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE " href="https://eclipsesoundscapes.org/">Eclipse Soundscapes, </a>a recreation of century-old a large-scale study carried out during the 1932 eclipse. Volunteers registered with the study will be asked to log recordings, data, and their own experiences to a database.Hartstone-Rose is also carrying out his own study during the cosmic event. Scientists and a group of volunteers will be studying animals at the Fort Worth Zoo in Texas."For this one moment, on this one particular day, everybody is going to have this shared experience," Hartstone-Rose told The Guardian."There's something beautiful about that, and sharing it with our animal brethren just adds to it," he said.

Wild animals and pets may start behaving strangely during today's solar eclipse

<ul><li>Of the surveyed, 29% prefer to take <keyword id="6368952" type="General" weightage="20" keywordseo="shopping" source="Orion">shopping</keyword> trips while 26% want to take theme park holidays. </li><li>60% of the respondents say that they plan to visit a foreign destination in 2023. </li><li>The beaches of Goa, the scenic mountain towns of Himachal and the backwaters of Kerala attract most travel planners. </li></ul><keyword id="28910" type="General" weightage="20" keywordseo="mountains" source="Orion">Mountains</keyword> versus beaches is one of those age old debates. A relaxed holiday in Goa versus the fresh alpine air of Himachal, generally, everyone has a preference. Not surprisingly, a travel report by Acko in collaboration with YouGov, a market research company, finds that destinations with a scenic charm, whether the mountains or the <keyword id="3079" type="General" weightage="20" keywordseo="seaside" source="Orion">seaside</keyword>, have an equal appeal with 36% and 35% voting for each. The report says that Indians are getting more adventurous with their travel plans with one in three having expressed a strong interest in taking adventurous holidays, i.e. 33%. A lesser few (29%) prefer to take shopping trips, 26% want to take theme park holidays, while 16% would love to go on a <keyword id="397726" type="General" weightage="20" keywordseo="gastronomic" source="Orion">gastronomic</keyword> holiday or what one would simply call a food trip. Not surprisingly, <keyword id="6354539" type="General" weightage="20" keywordseo="dubai" source="Orion">Dubai</keyword> and <keyword id="6356662" type="General" weightage="20" keywordseo="singapore" source="Orion">Singapore</keyword> top the list of <a href="https://www.businessinsider.in/travel/news/top-5-foreign-destinations-on-the-radar-for-indians-and-thailand-isnt-one-of-them/articleshow/101718671.cms">foreign travel destinations</a> for Indians. When it comes to <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>, the beaches of Goa (29%), the scenic mountain towns of Himachal (26%), the backwaters of Kerala (22%), the mystical mountains of Uttarakhand (20%), and Rajasthan, which literally means ‘land of the kings,’ (20%) are the top travel destinations. <cmsannotation type="cmsannotation" annotationid="The lure of the foreign lands" comment="subhead" text="The lure of the foreign lands">The lure of the foreign lands</cmsannotation> 60% of the respondents say that they plan to travel abroad, while 10% said that they are only planning to travel abroad in 2023. One of the reasons for more people wanting to travel abroad could be that 31% said that they want to take more international trips because of the pandemic, when their travel plans did not work out. Also, 37% said that they will increase the duration of the trip. The findings reveal that post pandemic, international travel is back with a bang. <cmsannotation type="cmsannotation" annotationid="How much Indians spend on travel" comment="subhead" text="How much Indians spend on travel">How much Indians spend on travel</cmsannotation> Indians are prepared to loosen their purse strings when travelling abroad. For international leisure trips, 18% spend less than ₹1 lakh, 47% spend ₹1- 2 lakh, 24% spend ₹4 lakh to ₹6 lakh, while 11% spend above ₹6 lakh. Also, 48% said that they will allocate a higher budget to their trip post-pandemic.When it comes to domestic holidays, the majority (55%) expect it to cost less than ₹1 lakh.

Shopping holidays pipped by this rising category of Indian travellers

Boost in domestic <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> due to PLI (production linked incentive) schemes and increase in <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> on account of free trade agreements are expected to bridge the country's <keyword id="20201391" type="General" weightage="20" keywordseo="trade-deficit" source="keywords">trade deficit</keyword> further, <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> said on Monday. However, it said that fluctuations in <keyword id="19936629" type="General" weightage="20" keywordseo="commodity-prices" source="keywords">commodity prices</keyword>, especially for critical imports like oil, metals, and agricultural products, can impact India's trade balance and inflation levels. The Survey said that though ongoing geopolitical headwinds impacted India's merchandise exports, lowering international commodity prices ensured a lower trade deficit in FY24 than in FY23. The country's merchandise trade deficit narrowed to USD 240 billion in 2023-24 from USD 265 billion in 2022-23. It added that changes in trade policies by major trading partners or geopolitical developments can affect India's export opportunities and market access. "In the coming years, India's trade deficit is expected to decline further as the <keyword id="19981334" type="General" weightage="20" keywordseo="PLI-scheme" source="keywords">PLI scheme</keyword> is expanded and India creates a globally competitive manufacturing base in several product categories," the Survey said. It added that the recently signed FTAs (free trade agreements) are expected to increase the <keyword id="22374533" type="General" weightage="20" keywordseo="global-market-share" source="keywords">global market share</keyword> of the country's exports. The PLI scheme for sectors like mobile manufacturing, information technology (IT) hardware, pharmaceutical, telecommunications, and food product are helping to increase manufacturing and cut imports. India has implemented <keyword id="20000557" type="General" weightage="20" keywordseo="FTA" source="keywords">FTA</keyword> with Mauritius, Australia and the UAE. It added that a narrowing merchandise trade deficit and rising service exports have improved the CAD (<keyword id="20054874" type="General" weightage="20" keywordseo="current-account-deficit" source="keywords">current account deficit</keyword>), ending with a surplus of 0.6 per cent of GDP in Q4 of FY24. However, the risks to the performance of India's external sector are on the downside due to the persistence of current <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword> and policy uncertainty, it said. Some of the challenges listed by the survey includes fall in demand from major trading partners like the US, rise in trade cost, and volatility in commodity prices. Attacks on shipping in the Red Sea and drought in the Panama Canal have resulted in trade flows being re-routed, increasing journey time and costs. India's merchandise trade relies heavily on maritime trade, so disturbances in major shipping routes can impact its economy. "It is critical to explore what these changing paradigms mean for India. Policies need to be a mix that straddles security concerns with economic considerations," the survey said, adding India's push towards manufacturing in complex and niche sectors through schemes such as PLI and Make in India aims to balance these goals. Further, the survey emphasised on the need to focus on improving India's competitiveness in many product areas. For example, it said, India has tremendous potential in becoming a large global exporter in agricultural commodities. Fostering stronger regional trade ties and adding more markets for Indian goods will help mitigate global demand fluctuations. "In an era when global economic growth is likely to be buffeted by geopolitical tensions and protectionism, growing India's exports of goods and services will be a stiffer challenge than before," it cautioned. Commenting on this, Rumki Majumdar, Economist, Deloitte India, said that despite global uncertainties, India's exports are recording positive growth rates. "That shows the resilience of our exports amidst global uncertainties," she said, adding, "by transforming our export basket and focusing on higher margins and value addition across various sectors, India will easily achieve its ambition of USD 2 trillion in exports by 2030-31."

India's trade deficit expected to decline further: Economic Survey

<keyword id="19896956" type="General" weightage="100" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword>’s stock market debut has been awaited for a long time and recent reports suggest that the Bengaluru-based company is expected to raise more than USD 1 billion through its IPO. Reports also suggest that the company might soon file its draft red herring prospectus (DRHP) with the <keyword id="19901204" type="General" weightage="20" keywordseo="Securities-and-Exchange-Board-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Securities and Exchange Board of India" meta.hostid="261" meta.entityid="Securities and Exchange Board of India">Securities and Exchange Board of India</keyword> (Sebi), potentially launching its IPO as early as this week. Meanwhile, Swiggy has been busy implementing several notable changes across its operations, probably to gear up for its IPO. From changing leadership to expanding Instamart’s reach, let us take a look some changes implemented by Swiggy in the last few months. <h2>Leadership overhaul </h2> One of the most significant shifts has been at <keyword id="19939135" type="General" weightage="20" keywordseo="Swiggy-Instamart" source="keywords">Swiggy Instamart</keyword>, the company's quick commerce arm. Swiggy appointed <keyword id="22954620" type="General" weightage="20" keywordseo="Amitesh-Jha" source="keywords">Amitesh Jha</keyword>, a seasoned executive from Flipkart, as the new CEO of Instamart last month. This move marks the third leadership change for Instamart in just 18 months. As part of this transition, Phani Kishan, the outgoing head of Instamart, was announced to take on a broader role within Swiggy, overseeing the Central Growth unit and working closely with co-founder Sriharsha Majety on new initiatives. <h2>Expanding Instamart’s reach </h2> Swiggy Instamart has also been on an expansion spree, recently launching in 11 new cities across India, including Rajkot, Thrissur, and Kanpur. This expansion marks a strategic push into Tier 2 and 3 cities, broadening its customer base beyond metropolitan areas. The platform, which offers delivery of daily essentials in just 10 minutes, also said in a press release that it has seen encouraging results in these new locations. In Mangalore, for example, a new store achieved 1,000 orders in a single day faster than many larger cities. This localised approach, featuring partnerships with regional vendors, has enhanced Instamart’s appeal and efficiency in serving diverse customer needs. "Users across India already recognise the convenience Swiggy provides," Amitesh Jha said in a press release and added, "The enthusiastic demand from smaller towns and cities has been incredibly encouraging. Our expansion into these new locations marks a significant milestone, allowing even more people to experience the ease of having thousands of products—from everyday essentials to electronics and toys—delivered in just 10 minutes from both national and local brands." <h2>Changes in management </h2> Swiggy has also made notable changes in its management team recently. Himavant Srikrishna Kurnala, previously with Reliance Retail’s JioMart, was appointed as the head of product for Instamart earlier this year. His appointment is part of a broader strategy to strengthen the team ahead of the IPO. Other key hires include Mayank Rajvaidya, who has been named vice president of fruits and vegetables, and Manu Sasidharan, who joined as associate vice president of the FMCG category. These additions come in the wake of several high-profile departures from the company, signalling a recalibration of Swiggy’s leadership structure. <h2>Policy changes for restaurant partners </h2> Swiggy’s founder recently revealed that the decade-old startup partners with over 3 lakh restaurants today. And thus, when a policy change decision was announced that impacted restaurant partners directly, it made headlines. In a move to standardise its service fees, Swiggy extended its gross value service fee policy to restaurants in non-metro areas. This change, effective from August 14, involves charging a service fee on the gross value of orders, including GST and packaging fees. This adjustment was expected to lead to an increased commission for restaurant partners in smaller towns and cities. The policy shift aligns with the fees already applicable to restaurants in larger urban areas and reflects Swiggy’s efforts to streamline its revenue model. <h2>Converting into a public limited company </h2> To facilitate its upcoming IPO, Swiggy also transitioned from a private limited company to a public limited company. Earlier this year, Swiggy updated its name to <keyword id="23191546" type="General" weightage="20" keywordseo="swiggy-limited" source="keywords">Swiggy Limited</keyword>, removing the term 'Private' to better align with its public offering aspirations. This strategic move was intended to prepare the company for public investment and enhance its market presence. As Swiggy readies itself for its IPO, these changes underscore the company's commitment to growth, innovation, and adaptability. The upcoming listing marks a significant milestone in Swiggy’s journey, reflecting its ongoing evolution and strategic realignment in the competitive food delivery landscape.

Swiggy is preparing for its IPO soon: A look at some recent changes in the company

<ul class="summary-list"><li>Colgate-Palmolive uses sensors and robotics to speed up quality checks with less human intervention.</li><li>These tools allow the company to optimize manufacturing at its 49 plants.</li></ul>Colgate-Palmolive produces more than 15,000 tubes of toothpaste a minute.To ensure the manufacturing line was running properly, an employee would perform quality checks every 30 minutes to make sure that the Colgate toothpaste tube was aligned properly, its seal was sturdy, its artwork was printed properly, and the box's case matched the tube.But with new technology investments, sensors, and other digital tools, the company can now conduct quality checks continuously. Similarly, the consumer products giant is rolling out analytical testing for Hill's pet food, <a target="_blank" href="https://www.businessinsider.com/robots-warehouses-human-workers-startups-investors-amr-fetch-robotics-2022-10">using robotics to ensure the quality</a> of the food matches the desired formulation.With less human intervention, "people can really focus on the operation of the lines," Luciano Sieber, Colgate-Palmolive's chief supply-chain officer, told Business Insider.<h2 id="12915478-3930-408a-ad68-2c35ab4b4ad7">How COVID changed supply chains for consumer-products giants</h2>Colgate-Palmolive produces Irish Spring soap, Speed Stick deodorant, and Ajax cleaning supplies at 49 plants, and its goods in categories ranging from home to personal care are stocked at nearly 200 warehouses globally. Colgate-branded products are found in almost 60% of households worldwide.Like other <a target="_blank" href="https://www.businessinsider.com/cpgs-arent-planning-to-up-their-marketing-spend-but-will-if-consumers-rebel-against-price-increases-2023-2">consumer-packaged goods giants</a>, Colgate-Palmolive's supply chain was built on a fairly steady business model. Large volumes of goods are made at its plants, then shipped to warehouses that distribute them to large retailers.However, the supply chain is more complex now because <a target="_blank" href="https://www.businessinsider.com/people-revolutionizing-customer-experience-ai-2023-10">consumer shopping patterns</a> have changed. COVID led to a spike in demand at e-commerce stores that sell household goods, even those that were still available at physical stores. Food and personal-care products saw the greatest revenue growth in transitioning to online channels, according to the Commerce Department's International Trade Administration.That migration of spending has stuck, even after the pandemic waned, putting greater pressure on consumer brands to ensure their supply chains are as efficient as possible. CPG brands aren't just shipping to large accounts like Walmart and Target. Food and household goods are now coming from a lot more locations to reach shoppers.<h2 id="a0b45714-7cea-47ed-b03c-a01f98706e0d">Automation and AI allow for more efficient manufacturing</h2>Automating Colgate-Palmolive's manufacturing lines helps smooth out location-related variables, the company said.In Europe, where product formulas can vary by region, a plant might have hundreds of combinations of packs and formulas, and there are thousands of vendor partners for Colgate's toothpaste, tubes, and containers.With artificial intelligence, the plants can use <a target="_blank" href="https://www.businessinsider.com/forget-ai-algorithm-apocalypse-driving-humans-lives-data-stock-market-2024-4">algorithms to optimize the manufacturing plan</a> for all the different toothpastes the company produces."It supports our growth, but also it minimizes the amount of capital expenditure we need to invest in more capacity because we can optimize what we already have," Sieber said.Emma Rolfe, Colgate-Palmolive's senior vice president of global supply, demand, and e-commerce, said that leveraging AI helps the company more effectively adjust for changes to the workflow when a new formula is added or capacity requirements change when demand increases locally."That is something that today takes many hours, and you get many different answers depending on who you are," Rolfe said. "AI can help in a more standardized way."<h2 id="e821ca3a-c0fd-4b46-a31b-0f757a8424f2">New AI tools help track and trace goods</h2>Colgate-Palmolive is piloting digital AI tools, including <a target="_blank" href="https://www.businessinsider.com/ai-machine-learning-robotics-retail-supply-chain-technology-2023-10">track-and-trace technology</a>, that can give retailers automatic updates to their product orders, including any delays that might occur during shipping.Sales representatives can use a phone to scan a shelf in a store, leverage AI to look for gaps, and determine which items need to be restocked to meet the demand of that store's customer base.Last year, the company opened a new Hill's pet-food factory in Kansas, a 365,000-square-foot facility that's Colgate-Palmolive's first <a target="_blank" href="https://www.businessinsider.com/ai-factories-data-centers-nvidia-foxconn-2023-10">"smart" factory</a>, which relies on AI and automation and fewer people. It's allowed the company to shorten its production cycle, create flexibility to innovate new pet-food products, and decrease energy and water use compared to other plants, a <a target="_blank" href="https://www.prnewswire.com/news-releases/hills-pet-nutrition-opens-new-smart-factory-in-tonganoxie-to-meet-global-pet-owner-demand-for-science-led-nutrition-301957784.html#:~:text=TOPEKA%2C%20Kan.%2C%20Oct">press release</a> from the company said."Every single operation, like quality testing, has been automated and that enables for a much more efficient factory," Sieber said.As is often the case with AI and automation, new factories like the one in Kansas raise questions about their impact on jobs. But Sieber stresses that <a target="_blank" href="https://www.businessinsider.com/salesforce-ceo-retail-workers-lose-jobs-ai-2024-1">humans will always participate in manufacturing</a>."What we find in our most advanced sites is technologies alone, they don't solve everything," Sieber said. Upskilling Colgate-Palmolive's workforce, he said, moves people "away from doing manual work to really using the power of critical thinking and conceptual thinking to improve process performance."

A consumer-packaged goods giant is harnessing AI to produce more toothpaste and dog food in less time

With <keyword id="19899402" type="General" weightage="20" keywordseo="digital" source="keywords">digital</keyword> adoption fast gaining currency, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is likely to see <keyword id="19992513" type="General" weightage="20" keywordseo="retail" source="keywords">retail</keyword> <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> double to USD 7 trillion by 2030 from current levels, a study by Kearney and <keyword id="19942875" type="General" weightage="20" keywordseo="Amazon-Pay" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon Pay" meta.hostid="153" meta.entityid="Amazon Pay">Amazon Pay</keyword> said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in <keyword id="21056201" type="General" weightage="20" keywordseo="online-purchases" source="keywords">online purchases</keyword> has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well. While 90 per cent of the respondents of the survey preferred digital payments when making online purchases, affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), tending to use various modes of digital payment for 80 per cent of their transactions. "<keyword id="19955338" type="General" weightage="20" keywordseo="millennials" source="keywords">Millennials</keyword> and Gen X are leading in the adoption of all types of digital payment instruments," it said. "Men and women both use digital payments in about 72 per cent of their transactions, indicating gender parity." The research was based on an online survey of over 6,000 consumers along with more than 1,000 merchants through offline and online methods across 120 cities with representation from various regions, income groups, city categories, age brackets and genders. India has seen a surge in <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, with the market valued at USD 75 billion to USD 80 billion in 2022 and expected to grow at a 21 per cent CAGR until 2030. "In line with India's digital journey, retail digital payments have grown dramatically over the past five years - from USD 300 billion in FY18 to USD 3.6 trillion in FY24. By FY30, they are likely to double to USD 7 trillion," the report said. The Unified Payments Interface (<keyword id="19900911" type="General" weightage="100" keywordseo="UPI" source="keywords">UPI</keyword>) has been a key driver of this growth, demonstrating a CAGR of 138 per cent in its volumes during FY18-24. Other instruments such as cards and digital wallets are also gaining in popularity, contributing 10 per cent of digital transaction value today. "With such dynamic developments, it is no wonder that India is a global frontrunner in the digital payment landscape, accounting for a stellar 46 per cent of the global digital transaction volumes in 2022," it said. Digital payments have penetrated small towns, with respondents in these areas highlighting that 65 per cent of their transactions are digital, while respondents in larger cities cited this ratio to be 75 per cent. "There is a strong correlation between a city's average DDPU and its retail potential, as measured by the Kearney India Retail Index, with the top six metros displaying both high DDPU and high retail potential," the report said. DDPU surpasses retail potential in some cities such as Lucknow, Patna, Bhopal, Jaipur, Bhubaneswar, Indore, Ahmedabad and Pune, which have a high DDPU nearly matching that of larger metropolitan cities despite having a lower retail potential than the top six metros. The report said co-branded credit cards are gaining momentum. "Emerging methods such as buy now, pay later (BNPL), wearable payments and voice assistant-based payments are also starting to make inroads." Digital modes of payment constitute around 69 per cent of the total transaction volumes for the Indian merchants that were surveyed. Even street vendors such as paan shops, fruit and flower sellers, food stalls, and kirana stores are joining the digital payment brigade. "Challenges for merchant adoption mirror consumer concerns, emphasizing issues of financial fraud, limited connectivity and trust," it said. The report said the next wave of growth in digital payments will be fueled by increasing penetration in segments with lower DDPU, such as consumers in lower-income groups and smaller towns, along with enhancing the value of spending via digital modes of payment in the higher DDPU segments by addressing their concerns. "All key stakeholders across the digital payments' ecosystem, including payment providers, the government, and value-added services players, will need to play a part in expanding digital payment adoption," it said. The focus areas should be empowering communities with financial education by launching target programmes to boost awareness of digital payments and new methods such as UPI Lite and UPI Lite X, especially for aspiring consumer segments, women in small towns, and street commerce merchants, to encourage higher adoption. Also, there is a need to create user-friendly consumer journeys by streamlining documentation and know-your-customer (<keyword id="19910870" type="General" weightage="20" keywordseo="kyc" source="keywords">KYC</keyword>) processes, optimising user interfaces, and establishing responsive customer complaint resolution mechanisms, it said adding also there is a need to enhance digital infrastructure by addressing systems and network issues and exploring innovations such as UPI Lite X for areas with limited internet. Also, the risk of fraud has to be minimised and access to credit-based payment methods expanded by using alternate data for underwriting risk, developing innovative credit products and promoting credit education for financial health. "These areas can help India overcome challenges in the digital payment ecosystem by fostering a more inclusive, secure, and user-friendly environment, thereby enhancing the adoption of digital payments among consumers and merchants in India," it added.

India to see retail digital payments to double to USD 7 tn by 2030: Report

New Delhi [India], March 12 (ANI): The latest data released by the <keyword id="20070866" type="General" weightage="20" keywordseo="national-statistical-office" source="keywords">National Statistical Office</keyword> (<keyword id="20067517" type="General" weightage="20" keywordseo="nso" source="keywords">NSO</keyword>), under the Ministry of Statistics and Programme Implementation (MoSPI), indicates a slight easing in retail inflation for the month of February 2024. According to the provisional figures provided by the NSO, the retail inflation, based on the Consumer Price Index (General), stood at 5.09 per cent in February 2024. This marks a marginal decrease from 5.10 per cent recorded in January 2024. The combined inflation rate for rural and urban areas came down to 5.09 per cent from the previous month's 5.10 per cent. The data further reveals that the <keyword id="20931744" type="General" weightage="20" keywordseo="consumer-food-price" source="keywords">Consumer Food Price</keyword> Index (<keyword id="20931745" type="General" weightage="20" keywordseo="cfpi" source="keywords">CFPI</keyword>) witnessed a similar trend, with a slight decrease from 8.30 per cent in January 2024 to 8.21 per cent in February 2024. Both rural and urban areas experienced a dip in food inflation, indicating a marginal relief for consumers across the board. The monthly changes in the General Indices and CFPIs show a negligible increase of 0.16 per cent in the combined CPI (General) and 0.11 per cent in the CFPI from January 2024 to February 2024. This indicates a relatively stable price movement in essential goods and services during the said period. The NSO collects price data from a vast sample size, covering both rural and urban markets across all states and union territories. During February 2024, data was collected from 100 per cent of villages and 98.5 per cent of urban markets. The comprehensive coverage ensures that the inflation figures are representative of the diverse consumption patterns across the country. In terms of the subgroup analysis, notable trends were observed in various categories. Cereals and products, meat and fish, and egg prices showed moderate increases, contributing to the overall inflation rate. On the other hand, certain items like oils and fats experienced a decline in prices, exerting downward pressure on inflation. The NSO has also provided state-wise inflation data, highlighting the varying price dynamics across different regions. States like <keyword id="19896313" type="General" weightage="20" keywordseo="andhra-pradesh" source="keywords">Andhra Pradesh</keyword>, Telangana, and <keyword id="19896558" type="General" weightage="20" keywordseo="tamil-nadu" source="keywords">Tamil Nadu</keyword> recorded relatively higher inflation rates, while states like Delhi and Maharashtra witnessed a more subdued inflationary environment. Looking ahead, the NSO has announced that the next release of CPI data for March 2024 is scheduled for April 12, 2024. This continued transparency in reporting inflation figures enables policymakers and stakeholders to make informed decisions regarding monetary and fiscal policies. (ANI)

You Searched For "pet food category india" and got 11 results

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