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

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

<ul><li><keyword id="20940216" type="General" weightage="20" keywordseo="Synology" source="keywords" meta.keywordsubtype="org" meta.entityname="Synology" meta.hostid="261" meta.entityid="Synology">Synology</keyword> has showcased its upcoming enterprise solutions in India.</li><li>The Taiwanese <keyword id="20653112" type="General" weightage="20" keywordseo="storage-solutions" source="keywords">storage solutions</keyword> provider has revealed its enterprise-level solution blueprint for India.</li><li>The company has announced new GenAI-powered features for its Office Suite.</li></ul> Taiwanese storage solutions provider Synology has launched its new enterprise-level solution blueprint in India at its Synology Solution showcase held in India. The announcement comes as the first enterprise application blueprint in India and is a significant part of the company’s expansion plans in India. Since 2021, the company has recorded a 600% growth in business sector revenue in India, contributing to a total revenue growth of 350%. The company showcased its latest offerings in data protection, storage, and surveillance, emphasizing solutions designed to address the growing demands of modern enterprises. <h2>Synology showcases new products</h2>The company showcased its upcoming products, including the ActiveProtect appliances, which were first<a href="https://www.businessinsider.in/tech/news/synology-introduces-new-products-aimed-at-data-protection-and-scalability/articleshow/110711086.cms"> announced</a> during the company’s Synology Solution Exhibition 2024. The ActiveProtect lineup includes dedicated backup systems that are optimised for rapid deployment and scalability. This backup solution is aimed at simplifying deployment and it can manage up to 2,500 multi-server environments across multiple sites. <div type="Article" hostid="261" msid="111748677" title="Synology bets big on the Indian market amid strong growth, growing demand" mstype="2" mssubtype="0"></div> “The ActiveProtect series focuses on data recovery and immutability, making it a reliable tool for IT professionals to ensure data security. Its multi-site friendly design aligns perfectly with India's business structure,” said Russell Chen, country manager, SAARC Region, Synology. The company also showcased its scale-out storage solutions and advanced surveillance solutions at the event. “Driven by the demand of technology trends, such as AI, IoT, digital transformation, and so on, Synology has performed exceptionally well in the Indian enterprise market, especially in sectors like government, manufacturing, and media and entertainment. Moving forward, we will continue to dedicate ourselves to meeting the modern storage needs of growing enterprises,” said Michael Chang, APAC sales head, Synology. The developing scale-out solution delivers scale-out storage, supporting both file and object storage and performance growth when adding additional storage servers. Synology also introduced its C2 Surveillance Station, which is a cloud-based video surveillance solution with edge AI and multi-layer encryption. The company is enhancing its <keyword id="19999884" type="General" weightage="20" keywordseo="AI-capabilities" source="keywords">AI capabilities</keyword> with the Synology AI Console, integrating GenAI into the Office Suite. According to the company, this will allow organisations to use the latest large language models (LLMs) while maintaining strict control over data privacy and security. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a> <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/snapdragon-8-elite-announced-to-power-iqoo-13-oneplus-13-xiaomi-15-series-and-more/articleshow/114463844.cms">Snapdragon 8 Elite announced, to power iQOO 13, OnePlus 13, Xiaomi 15 series and more</a>

Synology introduces new enterprise solutions, reports significant growth in India

<ul><li>The <keyword id="8194701" type="General" weightage="20" keywordseo="refurbished-smartphone" source="Orion">refurbished smartphone</keyword> market has recorded rapid growth in India.</li><li>While the unorganised sellers dominate the market, the organised sellers are also growing.</li><li>Affordability and shorter upgrade cycles are among the factors fueling the refurbished smartphone market.</li></ul> India's refurbished smartphone market is experiencing significant growth, outpacing the new smartphone sector. This reflects a maturing market which is increasingly catering to consumers looking for affordable yet reliable options. According to a report by Counterpoint Research, unorganised sellers dominate the refurbished smartphone market, accounting for 77% of transactions. The Indian refurbished smartphone sector has traditionally been dominated by unorganised players, offering devices at a fraction of the cost of the new models. However, the introduction of value-added services like warranties, quality assurance, and after-sales support by emerging e-commerce platforms is beginning to formalise this market, enhancing consumer trust and driving further growth. <h2>What’s fueling the refurbished smartphone market</h2><h3>Affordability</h3><keyword id="2698558" type="General" weightage="20" keywordseo="refurbished-smartphones" source="Orion">Refurbished smartphones</keyword> offer consumers access to higher-end hardware at lower costs, making premium technology more accessible to a broader audience. This aspect is particularly appealing in a price-sensitive market like India. <h3>Shorter upgrade cycles</h3>With technology evolving rapidly, many users prefer to upgrade their phones more frequently. Refurbished devices provide an avenue for this without the high cost associated with new purchases. <h3>Environmental impact</h3>There's a growing awareness of the environmental benefits of using refurbished products, which reduces electronic waste and the demand for new manufacturing, which is resource-intensive. <h3>Consumer confidence</h3>The entry of organised players who provide guarantees and quality checks on refurbished devices has significantly boosted consumer confidence. These services add a layer of reliability to what was once a market fraught with uncertainty about product condition and longevity. Despite the growth in the unorganised sector, there's a noticeable trend towards formalisation. E-commerce platforms specialising in refurbished goods are expanding, providing consumers with the convenience of online shopping backed by credible service commitments. The report also notes that this growth is not just contained within India. Globally, the refurbished smartphone market is on an upward trajectory, with similar trends observed in markets like Latin America, suggesting a broader international shift towards sustainable consumption in electronics. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/moto-g35-5g-with-120hz-5000mah-battery-launched-at-9999/articleshow/116172283.cms">Moto G35 5G with 120Hz display, 5,000mAh battery launched at ₹9,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/redmi-note-14-pro-and-redmi-note-14-pro-launched-in-india-starting-at-24999/articleshow/116134415.cms">Redmi Note 14 Pro and Redmi Note 14 Pro+ launched in India starting at ₹24,999</a> <a href="https://www.businessinsider.in/tech/mobile/news/vivo-x200-and-x200-pro-camera-centric-to-launch-in-india-on-december-12/articleshow/115930004.cms">Vivo X200 and X200 Pro camera-centric smartphones to launch in India on December 12</a>

India's refurbished smartphone market witnesses accelerated growth

<keyword id="20779198" type="General" weightage="20" keywordseo="Chief-Economic-Advisor" source="keywords">Chief Economic Advisor</keyword> V Anantha Nageswaran emphasized the crucial and positive role that artificial intelligence (<keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword>) can play for the <keyword id="22505095" type="General" weightage="20" keywordseo="Indian-demography" source="keywords">Indian demography</keyword> and <keyword id="20278114" type="General" weightage="20" keywordseo="labour-force" source="keywords">labour force</keyword> during a press conference on the <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-24. He noted that within the next decade, India is poised to become the world's third-largest economy and will benefit significantly from its demographic dividend. However, Nageswaran also acknowledged potential challenges posed by AI, particularly for India's <keyword id="20811086" type="General" weightage="20" keywordseo="business-process-outsourcing" source="keywords">Business Process Outsourcing</keyword> (BPO) sector. He stated, "The short-term challenge of generative AI could slow <keyword id="22505093" type="General" weightage="20" keywordseo="BPO-sector-growth" source="keywords">BPO sector growth</keyword>, affecting <keyword id="21300718" type="General" weightage="20" keywordseo="customer-services" source="keywords">customer services</keyword>. It is possible that the jobs related to BPO will be under threat whereas AI may actually turn out to be a booster." Furthermore, Nageswaran also pointed out that the emergence of AI might reduce annual <keyword id="21420133" type="General" weightage="20" keywordseo="productivity-growth" source="keywords">productivity growth</keyword> by approximately 0.3 percentage points in the coming years. This indicates a potential short-term dip in productivity as industries adapt to new technologies. Despite these challenges, Nageswaran added that the long-term potential of AI is promising. The broader adoption of AI could lead to significant improvements in critical areas such as healthcare and education, thereby enhancing human capital. The economic survey presented in the Parliament by finance minister Nirmala Sithraman says in the medium term Indian economy can grow at a rate of 7 per cent. The economic survey stated, "In the medium term, the Indian economy can grow at a rate of 7 per cent plus on a sustained basis if we build on the structural reforms undertaken over the last decade. This requires a tripartite compact between the Union Government, State Governments and the private sector." Achieving a sustained growth rate of over 7 per cent will require a tripartite compact between the Union Government, State Governments, and the private sector. India's financial sector is undergoing critical transformations. During FY24, primary capital markets facilitated capital formation of Rs 10.9 lakh crore, accounting for approximately 29 per cent of the gross fixed capital formation of private and public corporates in FY23. It further adds India faces a unique blend of opportunities and challenges amid global trends such as geo-economic fragmentation, a push for self-reliance, looming climate change, the rise of technology, and limited policy space. (ANI)

AI could slow BPO sector growth: Chief Economic Advisor Nageshwaran

The <keyword id="20143656" type="General" weightage="20" keywordseo="turnover" source="keywords">turnover</keyword> of India's automotive component industry registered a <keyword id="19910261" type="General" weightage="20" keywordseo="growth" source="keywords">growth</keyword> of 9.8 per cent in the financial year 2023-24, according to the Automotive Component Manufacturers Association of India (<keyword id="20475655" type="General" weightage="20" keywordseo="ACMA" source="keywords">ACMA</keyword>). The turnover stood at Rs 6.14 lakh crore (USD 74.1 billion) during the year, said the ACMA, the body representing India's auto component manufacturing industry, in its review for the fiscal year 2023-24, as per a release. <keyword id="20373789" type="General" weightage="20" keywordseo="shradha-suri-marwah" source="keywords">Shradha Suri Marwah</keyword>, President, ACMA, and CMD, Subros, said that apart from an increase in <keyword id="21825714" type="General" weightage="20" keywordseo="vehicle-production" source="keywords">vehicle production</keyword>, higher value addition from the component sector has led to growth in the auto components sector. "On the front of trade, whilst overall merchandise <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> from India witnessed degrowth in FY24, auto component exports have grown despite geopolitical challenges and an increase in logistics costs," Marwah said. Elaborating on the mood of the industry and outlook for the near future, Marwah mentioned, steady growth in the vehicle industry has resulted in the industry reaching pre-pandemic levels of performance in 2023-24 in most segments, however, the first quarter of FY25 witnessed somewhat slower offtake in <keyword id="20051501" type="General" weightage="20" keywordseo="vehicle-sales" source="keywords">vehicle sales</keyword>, especially in passenger vehicles and commercial vehicles, given the high base, due to inclement weather conditions and elections. "With strong macro-economic indicators, conducive government policies, and over 7 per cent growth projected for the Indian GDP, we are hopeful that the auto components industry will continue to perform well in 2024-25," Marwah added in the release. Following are some of the key findings of the ACMA Annual Industry Performance Review: Auto component sales to Original Equipment Manufacturers (OEMs) in the domestic market were at Rs 5.18 lakh crore (USD 62.4 billion), growing 8.9 per cent compared to the previous year. Consumption of increased value-added components, a thrust on localisation, and a shift in market preference towards larger and more powerful vehicles contributed to the increased turnover of the auto-components sector. Exports of auto components witnessed growth of 5.5 per cent to Rs USD 21.2 billion in 2023-24 in contrast to USD 20.1 billion in 2022-23. North America accounted for 32 per cent of exports. Europe accounted for another 33 per cent and Asia for 24 per cent, respectively. Exports to Europe grew by 12 per cent while to Asia remained flat. The key export items included drive transmission and steering, engine components, body and chassis, suspension and braking systems. Component imports grew by 3.0 per cent in 2023-24 to USD 20.9 billion from USD 20.3 billion in 2022-23. Further, increased vehicle movement and a surge in demand for used vehicles led to buoyancy in the aftermarket across all segments. The turnover of the aftermarket in 2023-24 stood at Rs 93,886 crore (USD 11.3 billion) compared to Rs 85,333 crore (USD 10.6 billion) in the previous year. The aftermarket, with an increase in e-commerce, is witnessing enhanced penetration, especially in the hinterland, and a gradual evolution into the organised sector. (ANI)

Indian auto component industry turnover grows 9.8% in 2023-24; outlook positive: ACMA review

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Coal India Limited (<keyword id="19983407" type="General" weightage="20" keywordseo="CIL" source="keywords">CIL</keyword>) achieved an 8 per cent <keyword id="19910261" type="General" weightage="20" keywordseo="growth" source="keywords">growth</keyword> in <keyword id="19922489" type="General" weightage="20" keywordseo="coal-production" source="keywords">coal production</keyword>, reaching 189.3 million <keyword id="22246379" type="General" weightage="20" keywordseo="tonnes" source="keywords">tonnes</keyword> in the first quarter of the current fiscal, surpassing its target of 189.2 million tonnes, the company said in a statement on Monday. The company's production increased by 13.8 million tonnes compared to the corresponding quarter of FY'24, with all seven producing subsidiaries registering positive growth, it said. CIL's supplies also rose by 6 per cent to 198.4 million tonnes during April-June 2024, with a significant increase in supplies to both power and non-power sectors, it added. The company's coal loading witnessed healthy growth, with an average of 367.2 rakes per day, a 10.3 per cent year-on-year increase, it said. Higher production and loading resulted in a substantial increase in coal inventory at CIL's pitheads, reaching 81.5 million tonnes, providing a sufficient buffer to meet any sudden surge in demand, it said. At a time when power demand in the country is surging, the miner stepped up its supplies to coal-fired plants, registering a 4 per cent growth to 160 million tonnes in <keyword id="20501879" type="General" weightage="20" keywordseo="Q1" source="keywords">Q1</keyword> FY'25, a year-on-year increase of 6 million tonnes. In the same period of FY 2024, CIL's off-take to thermal power plants stood at 154 million tonnes, the company said. Additionally, CIL's supplies to the non-power sector reached an all-time high of 38.4 million tonnes in Q1FY25, logging a 16 per cent growth. This sector had received 33 million tonnes in April-June 2023. The growth in June 2024 alone was 23 per cent at 13.4 million tonnes, the statement said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank">Vraj Iron and Steel IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

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

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