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<ul><li>E-commerce companies are expected to clock up to ₹1.2 lakh crore in sales this <keyword id="19894908" type="General" weightage="20" keywordseo="festive-season" source="keywords">festive season</keyword>.</li><li>Mobile, electronics and fashion categories are expected to dominate during the sale.</li><li>The <keyword id="20253122" type="General" weightage="20" keywordseo="gross-merchandise-value" source="keywords">gross merchandise value</keyword> is expected to record a 20% <keyword id="21396882" type="General" weightage="20" keywordseo="year-on-year-growth" source="keywords">year-on-year growth</keyword>.</li></ul>The festive season is here and e-commerce giants Amazon, Flipkart and other companies have started their festive sales. Driven by high pent-up demand and a premiumisation wave in the country, <keyword id="21687870" type="General" weightage="20" keywordseo="E-commerce-sales" source="keywords">e-commerce sales</keyword> are estimated to reach up to ₹1.2 lakh crore in gross merchandise value (GMV). The GMV of ₹1.2 lakh crore will be a 20% year-on-year (YoY) growth for the e-commerce sector, according to a report by Redseer Strategy Consultants. Mobiles, electronics and fashion categories are set to gain momentum while other categories such as beauty and personal care, home and more will see an incremental upside, “taking their festive growth above 25%,” as per the report. According to Kushal Bhatnagar, Associate Partner at Redseer, mobiles and electronics remain key value and growth drivers this festive season, especially as consumers respond to affordability options that make premium products more accessible. “Moreover, sellers and platforms have the potential to unlock the pent-up demand in the category by optimising for pricing and selection,” Bhatnagar added. As brands look to capitalise on the festive demand, many are strategically leveraging e-commerce platforms to cater to the aspirational customers’ needs and reach the relatively less accessible customers in tier 2 cities and beyond. “As a result, they look to partner deeply with the leading platforms to attract customers via lucrative discounts and offers available in the large-scale festive events,” he said. This festive season, brands are looking to push premium stock keeping units (SKUs) at a discounted price, to encourage aspirational buying. Quick commerce, which saw significant traction in 2023, is set to contribute approximately 8% to overall e-commerce growth, up from the 5% growth recorded last year. Newer categories such as home and kitchen appliances are likely to get pushed aggressively on quick commerce platforms and could also help the platforms to boost their average order values and profitability as per the report. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms">Upcoming smartphones launching in India in October 2024</a> <a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms">KRN Heat Exchanger IPO allotment – Check allotment status, GMP, listing date and more</a>

E-commerce sales expected to reach ₹1.2 lakh crore this festive season

Indian banks are expected to have steady growth in earnings and returns over the next 3–4 years, according to a recent report by Jefferies. It expects a 13% compound annual growth rate (CAGR) in loan growth for banks between FY24 and FY27, helmed by a supportive environment and expected adjustments in interest rates. "We expect steady growth in earnings and stable returns, Over FY24-27, the banks we cover should see 13% CAGRin loans We factor 25-50 bps cut in rates, &amp; depending on timing, NIMs will move," the report said. Depending on the timing, these rate cuts could impact banks' <keyword id="20076541" type="General" weightage="20" keywordseo="net-interest-margins" source="keywords">net interest margins</keyword> (NIMs), which measure the difference between interest income generated and interest paid to depositors. The report also notes that banks' net interest income (NII), a critical metric that is reflective of how much a bank earns from its lending, could grow at a steady 12% CAGR, which would support overall earnings growth. <h2>Rate cuts probable next year</h2>Per SBI Mutual Fund's monthly outlook for November 2024, while markets were initially speculating possible rate reductions in December this year or February next year these chances now stand dampened due to two reasons. First, elevated CPI numbers in September, which stood at a nine-month high, underlined the stickiness of food inflation. Secondly, RBI governor Das recently highlighted his hawkish stance at a conference, stating that "rate cuts at this stage would be premature and risky’. The report further adds that February 2025, or even April, would be a better time to discuss repo rate cuts in India. Even <keyword id="19985925" type="General" weightage="20" keywordseo="bank-credit-growth" source="keywords">bank credit growth</keyword> has continued to outpace deposit growth for two years now. However, they seem to be inching closer in the recent past. For instance, in October 2024, while bank credit growth remained at 12.7%, the deposit growth rate followed closely at 11.8%. This also means that banks are witnessing an elevated bank credit-to-deposit ratio, standing at 77% in October. <h2>Risks in unsecured lending </h2>However, Jefferies noted some areas of caution that could influence growth in other revenue streams, particularly fees. Growth in fees may be at risk due to expected declines in the disbursal of unsecured loans, which generally carry higher interest rates and generate higher fees for banks. October saw stress and defaults rising in the unsecured lending space, prompting the RBI to intervene. As a result, unsecured loans by banks have only grown by 12.1%, the lowest since the pandemic. Despite these risks, the report expects banks' return on assets (ROA) and return on equity (ROE) to remain healthy, underscoring the sector's stable profitability potential. The report also highlights that while the Nifty Banks index has risen by 19% over the past year, it has still underperformed the broader Nifty index, which delivered 27% returns in the same period. BSE Bankex has been along similar lines, generating returns worth 19% over one year. While the Nifty banks' index has a YTD (yield to date) of 7.63%, it continues to trail Nifty's YTD of 11.30%

Indian banks to have steady growth in earning over next 3-4 years, fees from unsecured lending may dip, notes Jefferies report

<ul class="summary-list"><li>Disney's stock rose 8% Thursday after upbeat earnings and a rare three-year guidance update. </li><li>The company beat estimates for revenue and earnings-per-share. </li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/dis-stock">Disney</a> stock shot up 8% on Thursday after the entertainment giant reported earnings that beat estimates and surprised investors with guidance that gave a strong outlook for the next three years. The stock traded 8.4% higher around 10:45 a.m. ET, at $111.05 a share.The company beat revenue estimates for the third quarter, reporting $22.57 billion, versus estimates of $22.45 billion. Earnings per share came in at $1.14 versus estimates of $1.10.The outlook provided to investors was also a big highlight of the report. The guidance update is rare for Disney, which usually doesn't provide forward earnings forecasts. The three-year timeframe is also significant, since most companies rarely make forecasts further out than one year, and many don't provide guidance at all. The company forecasts high single-digit earnings-per-share growth for the next fiscal year and an $875 million increase in operating income for its streaming division. For the 2026 and 2027 fiscal years, the company projects double-digit earnings growth."Thanks to the significant progress we've made, we have emerged from a period of considerable challenges and disruption well positioned for growth and optimistic about our future," CEO Bob Iger said in a statement.The company's streaming unit—which includes <a target="_blank" href="https://www.businessinsider.com/guides/tech/disney-plus-price">Disney+</a>, ESPN+, and Hulu—saw a quarterly profit of $321 million, far outpacing a loss of $387 the year prior.The profits follow years of heavy investment amid a tense <a target="_blank" href="https://www.businessinsider.com/netflix-earnings-winning-streaming-wars-not-even-close-2024-1">streaming war</a> with competitors like <a target="_blank" href="https://www.businessinsider.com/netflix-wins-streaming-wars-this-chart-shows-why-2024-1">Netflix</a>, Max, and Paramount+.Its TV networks, meanwhile, comprised of ABC and cable channels like the Disney Channel and Freeform, saw profits fall 38% to $498 million, while revenue dropped 6% to $2.5 billion.The company's theme park and cruise profits also slowed, falling 6% from the year before to an operating income of $1.66 billion amid rising costs after launching two <a target="_blank" href="https://www.businessinsider.com/disney-cruise-line-expanding-new-ships-private-destination-2024-8">new cruise ships</a>, plus slowing foot traffic at international parks like Disneyland Paris.Spending and attendance at US parks remained strong, though, the company said.Bank of America analysts maintained their bullish outlook for the stock following the report. They reiterated their "buy" rating and $120 price target, which would represent almost 8% upside from current levels. "DIS has a collection of best-in-class premiere assets (in content/IP as well as Theme Parks). Near term catalysts include: 1) profitability inflection in DTC and 2) reacceleration in parks business," Bank of America analyst Jessica Reif Ehrlich wrote in a note.

Disney stock surges as rare 3-year forecast sees strong profit growth ahead 

<ul class="summary-list"><li>The International Monetary Fund raised its growth forecast for the US economy to 2.8% this year.</li><li>It expects slower growth of 2.2% next year as the government cuts back and the job market cools.</li></ul>The International Monetary Fund raised its growth forecast for the US, projecting the world's largest economy would expand by 2.8% this year instead of the 2.6% it predicted in July.in its latest <a target="_blank" class="" href="https://www.imf.org/en/Publications/WEO/Issues/2024/10/22/world-economic-outlook-october-2024">World Economic Outlook </a>released on Tuesday, IMF staff cited stronger consumption fueled by "robust increases in real wages" and wealth effects, along with non-residential investment, as the two main reasons for the increase. However, they predicted GDP growth would slow to 2.2% in 2025 as the US government curbs its spending and the labor market cools, sapping consumption.The IMF projected global growth of 3.2% in both 2024 and 2025, virtually unchanged from its previous prediction. They underscored their latest forecast for global growth over the next five years of 3.1% was "mediocre" compared with the pre-pandemic average."Persistent structural headwinds — such as population aging and weak productivity — are holding back potential growth in many economies," the agency's staff wrote.They projected only a slight slowdown in China to 4.8% this year due to resilient net exports, and revised their April forecast for 2025 upward by 0.4 percentage points to 4.5%. They noted the Chinese government's stimulus measures "may provide upside risk to near-term growth."The UN financial agency said that growth in the euro area appears to have troughed in 2023, and it anticipates an acceleration to 0.8% expansion in 2024 driven by stronger exports, then 1.2% in 2025 on the back of improved domestic demand.IMF staff made downward revisions to its growth outlook for the Middle East, Central Asia, and sub-Saharan Africa, citing disruptions to the production and shipping of oil and other commodities as well as "conflicts, civil unrest, and extreme weather events."In contrast, they upgraded their April forecasts for emerging and developing Asia by 0.3 percentage points for both 2024 and 2025, to 5.4% and 5.0%. They cited "surging demand for semiconductors and electronics, driven by significant investments in artificial intelligence, has bolstered growth."

The IMF just raised its growth forecast for the US economy this year — but expects a slowdown in 2025

As Mumbai, India's financial capital, witnessed vertical growth over the years with highrises dotting its skyline, some 'gaothans' (villages) have held onto their heritage and legacy. Ranwar, in the heart of Bandra, is one such village that has resisted the urge to make way for towering structures. Dwarfed by highrises, the East Indian-majority village has narrow streets lined with old quaint bungalows and crosses outside homes. With jazz music streaming in the air, walking around the area can transport you to a simpler time. While Bandra developed rapidly and became home to Bollywood's elite and a burgeoning street shopping hub, residents of Ranwar maintained their old bungalows. The coexistence, however, has come at a price, causing traffic issues and crowding. And now, plans are afoot to give the 300-year-old village a facelift while preserving the past. Talking to PTI, <keyword id="23283968" type="General" weightage="20" keywordseo="Johan-Dharmai" source="Orion">Johan Dharmai</keyword>, BJP secretary and a member of the East Indian community, said, "Locals want to preserve the heritage. One of the steps in the facelift plan is to close vehicle movement and build a walkway so that tourists can take a stroll and enjoy the architecture." Though many houses in Ranwar are now being redeveloped, Veronica Street has maintained its old-world charm. It has a square erected in 1866. However, honking rents the air on this street, as motorists see it as a shortcut to Bandra Reclamation and other areas. Mehboob Studio is just a stone's throw away, and senior citizens living on Veronica Street recall seeing actors Helen and Zeenat Aman around Ranwar. A beautification, restoration and conservation project is being initiated to improve safety, regulate traffic and create awareness about the centuries-old village. Mumbai BJP president and <keyword id="20238930" type="General" weightage="20" keywordseo="Bandra-West" source="keywords">Bandra West</keyword> MLA Ashish Shelar recently met locals to discuss ways to move the project forward. "The beauty of Bandra West is its 'gaothans'. The heritage needs to be protected and showcased. I have asked the government to allocate funds from the District Planning Development Committee (DPDC). <keyword id="23283965" type="General" weightage="20" keywordseo="Ranwar-Village" source="keywords">Ranwar village</keyword> will get a facelift. The work has begun on roads, CCTV cameras, street light illumination, parking and traffic plan will be in place with the help of locals and architects," Shelar told PTI. <keyword id="23283967" type="General" weightage="20" keywordseo="Architect-Samir-DMonte" source="keywords">Architect Samir D'Monte</keyword> has been working with the Ranwar Veronica Street Residents' Association since 2009, and they identified a range of problems that the area faced. D'Monte said improvements were made to open spaces and common areas, roads, sewage and drainage systems, street signage, street lighting and traffic and parking management. Apart from this, individual houses were restored, and an innovative fire system was also introduced. Locals say most residents are senior citizens and want to live peacefully without disturbances by motorists. Kaevan Umrigar of Khaki Tours, who works to create awareness about Mumbai's heritage, said Bandra comprised 23 gaothans that housed fisher folk, Kunbis (a farming community) and the agris community who had salt pans. "Ranwar was a farming village, and the area had paddy fields. Later, these paddy fields made way for urban settlements. These little villages are now trapped in the city. Now, only 10 to 15 gaothans in Bandra have survived," he said. But preserving heritage comes at a cost, and if a 'gaothan' comes under heritage guidelines, it becomes difficult to upgrade a home in the area or live a modern life, Umigar said, adding that heritage should be made attractive by tapping the tourism potential of these areas. 'Gaothans' in Mumbai and the larger Mumbai metropolitan region (MMR) are urban villages that house the city's original inhabitants. The Mumbai suburban district collector and Brihanmumbai Municipal Corporation (BMC) have been roped in for Ranwar's facelift plan. Umigar calls land scarcity a threat to 'gaothans', with only 100 left in the city. "When someone wants to develop gaothans, they want to do it vertically. There is a constant battle between heritage and development. They (villages) survive because the houses are tightly packed and on narrow lanes. So individual houses are not attractive for redevelopment, and parking becomes an issue," he said.

300-year-old Bandra village to get facelift to conserve its glorious past

<ul class="summary-list"><li>Deloitte and EY are trimming employee numbers as the consulting sector faces a slowdown in demand.</li><li>EY's latest financial report showed performance and hiring fell to their lowest levels in 14 years.</li></ul>Deloitte and EY have trimmed staff as demand for professional services provided by the two Big Four firms declines.In the UK, 250 employees working on advisory services have been fired from Deloitte in recent weeks, <a target="_blank" class="" href="https://www.ft.com/content/c6c83d6d-505d-4d41-87c7-b41ff21acf84?accessToken=zwAGJTUewe1AkdPGyD1tUF1NQdOHx7Qf8hrPhA.MEUCIGd8bE8IuIvMTake0_-aZzM_Mv-Cfutx9xqi5I9luWaUAiEAkzeuXXlkfmq9JMk3JCAM4Pg7a7sh0m0toIpNriMtp5s&amp;sharetype=gift&amp;token=136ca422-d562-4f29-9b6c-1e3b0d9c4520">The Financial Times</a> reported.A source with knowledge of the matter told Business Insider that about 1% of the UK workforce had left the company as part of internal "performance management processes."It was the third time in 13 months that the Big Four firm had laid off workers, the FT reported. Deloitte declined to comment on the latest layoffs.Deloitte is the world's largest professional services firm in the world by revenue and employees. Its most recent financial report, published in September, revealed that hiring and earnings have slowed in the last year.Deloitte's global workforce expanded to 460,000 in the 2024 financial year, an increase of 3,000. Tens of thousands of new hires were made in the previous two years.Global revenue was up 3.1% to $67.2 billion. In the 2023 fiscal year, the firm reported a 14.9% increase.Consulting revenues contracted significantly, with year-on-year growth falling from 19.1% in the 2023 fiscal year to 1.9% in 2024.Big Four counterpart EY has been headed in a similar direction, its <a target="_blank" class="" href="https://www.ey.com/content/dam/ey-unified-site/ey-com/en-gl/campaigns/value-realized/documents/ey-gl-value-realized-report-latest-10-2024.pdf">annual report</a> published Thursday showed. It showed employee numbers fell by 2,450 in the year to June 30 — the first decrease in 14 years.Revenue was up 3.9% on the previous year to $51.2 billion. This amounted to the firm's poorest performance since 2010.<div type="image" title="Brit weather" height="4000" width="6000" msid="114554164" hostid="261" sizebytes="650946"></div>Major consulting firms are experiencing a <a target="_blank" class="" href="https://www.businessinsider.com/the-consulting-business-demand-is-rough-right-now-2024-3">slowdown in demand</a> for advisory services. Professional services firm Accenture cut its revenue forecast for 2024 from between 2% and 5% to between 1% and 3%. The firm cited the "uncertain macro environment" for its reduced expectations and said that clients continue to cut back.The trend has hit particularly hard given many of the firms went on a hiring spree during the pandemic as businesses looked for advisory support to handle to the impacts of the pandemic. In the 2023 fiscal year, Deloitte expanded its UK team alone by 7,000 employees.Aside from workforce reductions, consulting firms are also introducing new policies as they face up to an industry slowdown.PwC has <a target="_blank" class="" href="https://www.businessinsider.com/pwc-reduces-half-day-friday-benefit-for-uk-staff-2024-7">ended</a> its "Summer Fridays" perk that allowed UK staff to take Friday afternoons off for three months of the year. They were only permitted to do so for two months in 2023 and six weeks in 2024.In March, Deloitte launched "the biggest overhaul of its global operations in a decade," the FT reported. The overhaul will take a year to implement and will see the business cut itself down from five to four divisions in an effort to slash costs.For the second year running, EY has <a target="_blank" class="" href="https://www.businessinsider.com/ey-graduate-hires-start-dates-delayed-slowdown-strategy-consulting-2024-10">delayed start dates </a>for some new hires. The firm has also reduced the number of internships available next summer and cut pay by roughly 2% for some of its US partners.<h2 id="5e979be9-8ab7-4413-ac9d-f18c1186eab5">The worst may be over</h2>The firm told Business Insider that the decision to delay was made to help ensure new joiners would have "the quality and breadth of assignments to ensure a successful start and strong professional trajectory."The worst of the slowdown in the sector is likely already over, said James Callander, managing director of Freshminds, a UK-based consulting recruitment firm.Callander said the policies and workforce reductions that have been implemented will balance the amount of talent with the amount of work. He added that there's often a lag between the data on workforce numbers and the reality of the business.Callander was optimistic that the market would pick up by 2025: "Companies and businesses going through change and growth will always require professional advice."Do you work at Deloitte or another Big Four firm? Contact this reporter in confidence at <a target="_blank" href="mailto:pthompson@businessinsider.com">pthompson@businessinsider.com</a>

Deloitte and EY trim staff amid slowing demand following years of rapid growth for Big Four firms

<ul><li>The Indian electric two-wheeler market has reported a month-on-month decline in sales.</li><li><keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword> continues to lead the market but its market share has declined.</li><li><keyword id="19938730" type="General" weightage="20" keywordseo="TVS-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Motor" meta.hostid="261" meta.entityid="TVS Motor">TVS Motor</keyword> and <keyword id="19897354" type="General" weightage="20" keywordseo="Bajaj-Auto" source="keywords" meta.keywordsubtype="org" meta.entityname="Bajaj Auto" meta.hostid="261" meta.entityid="Bajaj Auto">Bajaj Auto</keyword> occupy the second and third spots respectively.</li></ul>After months of subdued sales, the Indian electric two-wheeler market bounced back in July 2024, crossing the 1 lakh mark. Sales have once again slowed down in August 2024, declining by 17% month-on-month. In the month of August 2024, 88,451 electric scooters were sold in India, up from 62,778 scooters sold in August 2023, reporting a 41% year-on-year growth. However, this was considerably lower than the 1,07,472 electric scooters sold in July 2024. <div type="Article" hostid="261" msid="113016216" title="August auto sales – Maruti Suzuki, Tata Motors and others report a decline in sales" mstype="2" mssubtype="0"></div> Electric two-wheelers continue to form the bulk of electric vehicle (EV) sales in India, with EV two-wheelers making up 57% of Indian <keyword id="19914921" type="General" weightage="20" keywordseo="EV-sales" source="keywords">EV sales</keyword> in August 2024 in terms of numbers. <h2>Ola Electric continues to lead the market</h2>A month after its initial public offering (IPO), Ola Electric reported a sale of 27,506 units in August 2024, up from 18,749 vehicles sold in August 2023, reporting a 46.7% year-on-year growth. This is however lower than its July 2024 sales of 41,711 vehicles. With this, the company currently occupies a 31% market share, down from 39% in July 2024. <h2>TVS Motor continues to occupy the second spot</h2>TVS Motor continues to be a distant second, with 17,541 electric scooters sold in August 2024, up from 15,482 scooters sold in August 2023, recording a 13.3% year-on-year growth. TVS Motor currently occupies a 20% market share in the Indian electric two-wheeler segment. Bajaj Auto has emerged as a close third, with 16,699 electric scooters sold in August 2024, up 153.7% from 6,582 electric scooters sold in August 2023. The company currently occupies a 19% market share. <keyword id="19938729" type="General" weightage="20" keywordseo="Ather-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="Ather Energy" meta.hostid="261" meta.entityid="Ather Energy">Ather Energy</keyword> is now in the fourth position, with 10,829 scooters sold in August 2024, up from 7,157 scooters sold in August 2023, recording a 51.3% year-on-year growth. The company commands a 12% market share. <keyword id="19983534" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero MotoCorp" meta.hostid="261" meta.entityid="Hero MotoCorp">Hero MotoCorp</keyword> takes the fifth spot with 4,782 electric scooters sold in August 2024, up from 915 scooters sold in August 2023, recording a 422% year-on-year growth. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/august-auto-sales-maruti-suzuki-tata-motors-and-others-report-a-decline-in-sales/articleshow/113016216.cms">August auto sales – Maruti Suzuki, Tata Motors and others report a decline in sales</a> <a href="https://www.businessinsider.in/tech/news/indian-tablet-market-records-good-growth-in-q2-2024-1-in-2-tablets-sold-was-from-samsung/articleshow/113011836.cms">Indian tablet market records good growth in Q2 2024, 1 in 2 tablets sold was from Samsung</a> <a href="https://www.businessinsider.in/business/auto/news/ducati-multistrada-v4-rs-adv-launched-in-india-at-38-40-lakh/slidelist/112912412.cms">Ducati Multistrada V4 RS ADV launched in India at ₹38.40 lakh</a>

Electric two-wheeler sales declined in August 2024, but year-on-year growth continues

A recent report by Axis AMC shed light on the burgeoning Indian mutual fund industry. Since March 2021, the MF industry has grown at a CAGR (compounded annual growth rate) of 23.65%, touching an AUM (asset under management) of Rs 67.25 lakh crore in October 2024. <keyword id="20300870" type="General" weightage="20" keywordseo="Equity-Mutual-Funds" source="keywords">Equity mutual funds</keyword>, which garnered Rs 41,886.69 crore during the month, saw a 58.96% YoY growth. The biggest contributor to the equity segment was sectoral funds, which captured 29.3% of net equity sales in October 2024. In all, they brought in Rs 12,278.78 crore during October 2024. The AUM of <keyword id="20890471" type="General" weightage="20" keywordseo="Hybrid-Funds" source="keywords">hybrid funds</keyword> also stood at Rs 9.24 lakh crore during the month, registering an annual growth of 47.8% and inflows worth Rs 16,863.30 crore during October 2024. Amidst this, the arbitrage funds led in net sales, capturing 3.61% of their AUM with monthly inflows worth Rs 7,181.70 crores. There and more people are entering the Indian markets, as is evident in the growing SIP corpus (Systematic Investment Plans), which saw contributions worth Rs 25,323 crore in October 2024, a 54.7% year-over-year growth. In October 2024, about 63,69,919 new SIPs were registered, taking the number of SIP accounts to a record high of 10,12,34,212 The growth in equity investments was largely led by retail investors and HNIs (high-net-worth individuals). Since March 2021, the retail segment in mutual funds has seen a 31.2% CAGR, while banks and foreign investors have recorded a CAGR of 31.8% during the same period. Corporations were the biggest contributors to debt mutual funds. Notably, the AUM of debt funds grew 14.8% over the previous year to stand at Rs 10,65,037 crore as of October 2024. The category saw net sales worth Rs 47,699 crore last month. Also testimony to the growing interest of investors in mutual funds were the figures of <keyword id="23958398" type="General" weightage="20" keywordseo="Passive-Mutual-Funds" source="keywords">passive mutual funds</keyword>, which recorded net sales worth Rs 8,025 crore during the month. Out of this, just index funds observed net sales of Rs 7,931 crore in the previous month. AUM from the top 30 Indian cities grew at 22.6% CAGR, whereas other cities grew at 27.8% CAGR since March 2021. FY25 also seemed to be the year where NFOs received an enthusiastic response from investors. So far, a total of 124 NFO schemes have managed to collect a total of over Rs 77,932 crore.

Mutual funds in spotlight: Industry grew at 23.65% CAGR since March 2021

India’s Chief Economic Advisor (CEA), <keyword id="20690607" type="General" weightage="20" keywordseo="V-Anantha-Nageswaran" source="keywords">V Anantha Nageswaran</keyword>, remains optimistic about the nation’s economic prospects despite a slower-than-expected <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> in the second quarter of FY2024-25. Speaking at the Bharat @100 Summit hosted by Assocham, he said that the fundamental health of the economy remains robust, according to a report by aNI. Nageswaran highlighted several indicators demonstrating the economy’s resilience. “If you run through the checklist for the <keyword id="19948184" type="General" weightage="100" keywordseo="Indian-economy" source="keywords">Indian economy</keyword>, the health is pretty robust,” he noted, pointing to controlled levels of external debt as a share of GDP, declining non-performing assets in the banking system, and stable inflation trends. Although certain food items have caused inflationary spikes, their impact is limited within the overall consumer price index basket, he explained. The CEA praised the shift in fiscal expenditure priorities over the past seven years, with greater focus on capital investments rather than revenue spending. This reallocation, he suggested, has bolstered long-term economic stability and growth potential. India’s GDP growth for the July-September quarter was 5.4%, significantly below the Reserve Bank of India’s forecast of 7%. While this has sparked concerns among economists, Nageswaran urged against overreacting. Erratic monsoons and excessive rainfall disrupted economic activity in Q2, he explained, while global uncertainties and supply chain pressures further weighed on growth. Despite these challenges, he maintained confidence in the broader growth narrative, citing improvements in key economic metrics. For instance, India’s gross capital formation has risen from 27.3% of GDP in the second decade of the 2000s to 30.8% today. Private consumption remains steady, and exports—spanning both services and manufacturing—continue to perform well even amid challenging global conditions. Nageswaran also underscored India’s growing competitiveness in international trade. He noted that the nation’s total <keyword id="24325087" type="General" weightage="20" keywordseo="exports-as-a-percentage-of-GDP" source="keywords">exports as a percentage of GDP</keyword> now surpass China’s, showcasing its resilience and adaptability in a shifting global trade environment. However, he cautioned against reading too much into quarterly fluctuations, highlighting the impact of geopolitical developments such as trade restrictions from the US on critical minerals and rare earths, as well as policy shifts in China. These external factors, he suggested, are likely to persist and may continue influencing short-term economic trends. (with ANI inputs)

Indian economy is resilient despite Q2 challenges, says CEA Nageswaran

<ul class="summary-list"><li>Chinese stocks could climb as much as 15% on the nation's expected fiscal stimulus package, SocGen said.</li><li>The package could be announced in October, potentially reaching 3 trillion yuan, the bank estimated.</li></ul>Chinese stocks could soon surge 15%, with another expected round of stimulus spurring a fresh economic growth spurt for the world's second-largest economy, according to Société Générale.Strategists at the bank pointed to China's recent <a target="_blank" class="" href="https://www.businessinsider.com/china-xi-jinping-stimulus-plan-wall-street-stock-market-economy-2024-9">monetary stimulus package</a>, which included measures like interest rate cuts, lowering reserve requirements for banks, and a $114 billion liquidity injection into China's economy.Those measures boosted investors' optimism, with Chinese stocks notching their <a target="_blank" class="" href="https://www.businessinsider.com/china-boost-economy-stock-market-bazooka-stimulus-sentiment-rally-pboc-2024-9">best week</a> since the Great Financial Crisis after the measures were announced. And there's likely more upside on the way, given that Beijing is likely to supplement the monetary support measures with increased fiscal spending next year, SocGen said. For stocks, that means a 15% jump from current levels in the near term, the bank said. Strategists estimated that the stimulus package could be announced as soon as October, potentially at the next Standing Committee of the National People's Conference at the end of the month. The package could amount to as much as 3 trillion yuan, or $427 billion, and include an "open-ended commitment" for a bigger stimulus package the following year.Those measures could push GDP growth to 5% next year, the strategists said, up from the bank's original estimates of 4.5% growth."The undervaluation of China equities is something that we observe across different benchmark indices and sectors. Most markets are trading well below or within their 10-year history," the bank said, adding that they also expected the policy to boost corporate earnings growth to as much as 15%."The exact magnitude of the boost will be subject to the size and details of the fiscal package … the sustainability of housing stabilization and household wealth recovery."Other experts have noted that China's monetary stimulus measures are <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-monetary-stimulus-package-xi-jinping-beijing-interest-rates-2024-10#:~:text=The%20direct%20effects%20of%20China's,lags%20in%20the%20legislative%20process.">unlikely to be effective</a> without <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-stimulus-stock-market-consumer-deflation-outlook-real-estate-2024-9">fiscal stimulus</a> to go <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-outlook-stimulus-fiscal-consumer-support-deflation-stephen-roach-2024-10">along with it.</a> That could mean the latest stimulus package won't have any direct effect on Beijing's economy until 2025, the soonest funds will be made available and deployed, one researcher said this week.

Chinese stocks could rally 15% as more stimulus spurs a GDP growth spurt next year, SocGen says

<ul class="summary-list"><li>China's stimulus isn't enough to stem slowing GDP growth, the World Bank said this week.</li><li>Neighboring countries will see their growth contract after years of positive spillover effects.</li></ul>China's stimulus measures aren't enough to stem the decline of its economic fortunes, and the troubles facing the world's second-largest economy will also be a drag on its neighbors, a new report from the World Bank finds.The report, released Tuesday, says that China's outsized growth has had positive spillover effects on nearby developing economies for years. Yet, as China's growth slows amid a struggling economy and <a target="_blank" href="https://www.businessinsider.com/china-stimulus-fix-economy-xi-jinping-stock-market-2024-10">tepid stimulus efforts</a>, those countries will also see growth contract.The bank forecasts China's economic growth will slow to 4.3% next year, down from a forecasted 4.8% for 2024. Growth in East Asia and the Pacific, meanwhile, will slow to 4.4% in 2025 from about 4.8% this year as a result."For three decades, China's growth has spilled over beneficially to its neighbors, but the size of that impetus is now diminishing," the group said.The authors point in particular to developing economies in East Asia, which benefited from increasing demand from China for imports even as it competed heavily as an exporter of goods. China's neighbors saw positive spillover effects from increased Chinese demand for commodities and services and from the relocation of Chinese production to those countries, the report says.The authors estimate that a 1% increase in China's GDP per-capita growth was associated with a 0.13% increase in GDP per-capita in emerging markets between 2020 and 2023.But now, with China's domestic demand stuck in low gear, its neighbors will feel the impact of China's export strength more drastically."If China's exports grow faster than its imports, as has continued to be the case in manufacturing and overall trade, then the negative impact of increased competition may outweigh the positive impact of demand enhancement in international markets," the report says.It says that a one percent slowdown in China's growth could reduce GDP growth in neighboring developing economies by as much as 0.21%.The report from the World Bank comes shortly after officials in Beijing announced a round of stimulus measures last month, vowing to rescue the economy from a <a target="_blank" href="https://www.businessinsider.com/china-economy-housing-market-real-estate-crash-investors-outlook-construction-2024-3?utm_medium=ingest&amp;utm_source=markets">struggling property sector</a> and <a target="_blank" href="https://www.businessinsider.com/china-economy-weak-domestic-demand-factory-activity-amid-strong-export-2024-7?utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*arxr6l*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyODMwODIxNC4yMjkuMS4xNzI4MzA4MzIyLjQxLjAuMA..&amp;utm_medium=ingest&amp;utm_source=markets">weak consumer demand</a>.The measures, which included lower interest rates and liquidity support, plus <a target="_blank" href="https://markets.businessinsider.com/news/stocks/chinese-property-stocks-homebuying-restrictions-stimulus-shanghai-gdp-2024-9?_gl=1*1lm342a*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyODMwODIxNC4yMjkuMC4xNzI4MzA4MjE0LjYwLjAuMA..&amp;utm_medium=ingest&amp;utm_source=markets">relaxed restrictions on homebuying</a>, fueled a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/china-stock-market-rally-economy-stimulus-liqudity-overwhelm-system-2024-9?_gl=1*1a7ytxc*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyODM5NjQwNS4yMzguMS4xNzI4Mzk2NTM4LjU5LjAuMA..">stock market rally</a> in the country and abroad as investors cheered any indication of future growth after months of downbeat data. However, the World Bank warns that the measures are still undefined, which makes it tough to calculate their impact on China's growth.Aaditya Mattoo, the World Bank's East Asia and Pacific chief economist, said the stimulus measures' fiscal impact has yet to be determined."The question is whether [the stimulus] can actually offset consumer concerns about declining salaries, concerns about declining property incomes and fears about falling ill, growing old, becoming unemployed," Mattoo said in a Tuesday interview with CNBC.Mattoo added that China will need to implement deeper structural reforms to see any long-term growth, but that the rest of the region will still welcome the stimulus efforts since it's so dependent on the country for growth.In the meantime, the rest of the region will "need to strengthen domestic drivers of growth by implementing long-deferred deeper reforms" to see growth independent of China, the report says.China's officials previously said the country is targeting "around 5%" growth for this year. In recent months, economists have increasingly said that goal <a target="_blank" href="https://www.businessinsider.com/china-growth-targets-axa-investment-property-sector-industrial-production-2024-9">is out of reach</a>.

China's growth will fizzle next year despite stimulus efforts, and its issues will drag down neighboring economies, World Bank says

Economists at the country's largest lender, SBI, today said they see India's Q2 real GDP growth slowing down further to 6.5% in the September quarter of this fiscal year. Amid concerns over the country's economic growth rate and whether it is slowing down, the analysts said they expect FY25 growth to come "closer to" 7%. SBI analysts join a long line of agencies like Fitch, ADB, IMF, Moody, World Bank, S&amp;P, and even RBI in forecasting India's GDP growth for FY25 in the range of 6.8% to 7.2% for FY25, driven by robust consumption and investment. SIP inflows have been at an all-time high, and so has QIP (qualified institutional placement) fundraising. As many as 71 companies raised Rs 88,678 crore this year through QIPs. Activity in Indian primary markets also remained robust, with 78 mainboard IPOs in 2024; this is a 111% rise from just 38 listings in FY23. Between April and June 2024, India's real GDP grew by 6.7%, the lowest growth seen in 15 quarters, pushing experts to believe that India is caught in a cycle of slowdown. "There is some incipient pressure evident on the domestic economy. Based on our analysis of 50 meaningful leading indicators (both consumption and demand-centric), a dip looks plausible across select cohorts of agriculture, industry, and services in Q2," the <keyword id="22337294" type="General" weightage="20" keywordseo="SBI-economists" source="keywords">SBI economists</keyword> added. Stating that they track 50 indicators to gauge economic activity, SBIs note said the proportion of indicators showing acceleration declined to 69% in Q2 FY25, as against 80% in Q2 FY24 and 78% in Q1 FY25. However, things might be changing now, given that rural demand has started looking up amidst muted urban demand. SBI also explained that the ongoing regulatory tightening on unsecured lending and roadblocks that are hindering rollover/refinancing of debt through unsecured credit are dismantling the unwarranted exuberance that had built up post-pandemic, especially in the urban areas. Madhu Lunawat, CIO &amp; Fund Manager, Bharat Value Fund states that the overall investment environment remains strong due to favorable economic conditions supporting government policies &amp; reforms. "The sustainable inflow from domestic investors is going to support the Indian equity market in any kind of correction. The long-term bullish structure of Indian economy will continue to attract new domestic &amp; global investors to participate in India’s growth story through various Investment avenues.” <h2>Rate cuts not on cards</h2>RBI Governor Shaktikanta Das clarified today that changing the monetary policy stance to 'neutral' does not mean a rate cut is imminent in the central bank's next policy announcement. Notably, RBI MPC is set to meet between December 4 and 6, 2024, to decide if the prevailing repo rate of 6.5%, which has stayed unchanged for the last 2 years, should be brought down or not. In its last meeting, The <keyword id="20501100" type="General" weightage="20" keywordseo="RBI-monetary-policy" source="keywords">RBI monetary policy</keyword> committee had shifted its stance to 'neutral' indicating that it is open to adjusting interest rates based on economic conditions. "It should not be assumed that we have done this, so therefore the next step is a rate cut. A change in stance doesn't mean that the next step is a rate cut in the very next meeting. It's not so," Das said. Das also cautioned that inflation remains a key factor, and inflation and CPI prints for October are expected to stay high.

You Searched For "year on year growth" and got 12 results

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Mutual funds in spotlight: Industry grew at 23.65% CAGR since March 2021

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China's growth will fizzle next year despite stimulus efforts, and its issues will drag down neighboring economies, World Bank says

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SBI economists see Q2 GDP growth slowing down to 6.5%; FY25 growth to be closer to 7%

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