Around the Market: D2C Companies' Empowerment Exercise

India, being the fastest growing e-commerce market in the world, is witnessing rapid changes in terms of business. This movement led to the rise of direct-to-consumer (DTC) companies catering to the specific needs of consumers. The Indian DTC market is currently valued at approximately $12 billion and is expected to grow at a rate of 40 percent to cross $60 billion by 2027. This has increased in importance as more and more people across the country are adopting e-commerce. These DTC companies relied on e-commerce marketplaces to reach millions of customers across the country. But now DTC companies are migrating from large e-commerce marketplaces. These companies range from developing platforms (websites and apps) to offering personalized service through social media. This enables them to connect directly with customers and be efficient on the cost front.

India's economic growth will be 8% in Q1 of FY23

The economic growth rate in the first quarter of the current financial year may be around the Reserve Bank of India's Monetary Policy Committee's 8 percent growth estimate. The gross domestic product (GDP) growth rate was 13.1 percent in the first quarter of the previous financial year and 6.1 percent in the fourth quarter. However, various analysts said that the GDP growth in the first quarter of FY23 is likely to be between 7 and 8.5 percent. Financial services group Nomura has forecast the lowest growth of 7 percent. Nomura said in a written note that according to its provisional estimates, GDP growth in the first quarter is likely to be 8 percent due to base effects. Barclays said it expects 7.5 percent growth if the situation continues.

India's crude oil imports from Russia fell for the first time in 9 months

Crude oil imports from Russia to India fell for the first time in nine months. According to trade sources, imports from Saudi Arabia fell to their lowest level in two to two-and-a-half years due to OPEC Plus cuts. China and India, the world's two biggest crude importers, have cut imports from Russia and Saudi Arabia since July. The reason for this was that these two crude oil producers started increasing prices due to reduction in crude oil production and shipments. Saudi Arabia has voluntarily cut production by 1 million barrels per day from July to September. Russia will cut exports by 50,000 million barrels per day in August. Russia took the step under an agreement with OPEC Plus and its allies to reduce supply and support prices. India's total imports fell 5.2 percent to 4.4 million barrels per day in July compared to June.

Significant opportunities for small and large companies in the space sector

The successful landing of the Chandrayaan-3 lander and rover on the Moon has created significant opportunities for small and large companies in this sector. A number of companies that offer space-tech aggregator services. As there are many prospects ahead of them in the future, their enthusiasm has increased. Some of the areas where there is significant potential for a bright future include cameras, remote sensing devices and overall satellite services. The order book of these companies will be full in the coming days. In India, there are more than 150 aerospace startups. Apart from offering new services, they are also considering expansion.

Mu. Funds will be allowed to charge more for direct plans

Market regulator Securities and Exchange Board of India (SEBI) is considering allowing mutual funds to charge more for direct plans. Such plans bypass distributors and have a lower expense ratio than regular plans. Market regulator SEBI may consider reducing the cost difference between schemes to 70 per cent, 80 per cent or 90 per cent of distributor commission. If this is the case and if the deduction allowed is 70 per cent, the scheme can charge up to 115 basis points for direct schemes.

An American company started a manufacturing unit

In line with India's Make in India program and commitment to local manufacturing and technological advancement, American corporate conglomerate Honeywell has opened a new airfield ground lighting manufacturing facility in Gurugram. Completely designed and manufactured in India, the product plays a vital role in airport operations and focuses on comprehensive safety and compliance regulations by global aviation standards and regulatory bodies. The entire engineering and technology has been developed by the Honeywell Technology Solutions team to meet the needs of airports in India.

Application of 5 companies for value addition under PLI-Auto

Amid growing concerns in the government over the poor take-off of the Production-Linked Concession (PLI) scheme, the Ministry of Heavy Industries has said it will withdraw its Rs. 25,938 crore under PLI scheme has decided to extend DOM. Regarding which 23 applications were received. The government believes that disbursement of concessions is expected to begin soon as original equipment manufacturers apply for certification. So far 23 applications have been received from companies. Concession disbursement will also be started soon, as the ministry is considering the option of quarterly incentive payments. The applications came from Mahindra & Mahindra, Tata Motors, Ola Electric, Ashok Leyland and Toyota Kirloskar Auto Parts.

OPD add-on cover is the best option in health insurance sector

A great option for good health insurance is OPD add-on cover. This cover pays for medical expenses that do not require hospitalization, thus enabling people to meet medical bills without using their savings. Many Indian health insurance policies now also include OPD coverage. Helps cover medical expenses without hospitalization. OPD coverage allows policyholders to claim for expenses related to treatment recommended by a medical professional, treatment received outside a hospital or day care facility. These claims can cover expenses incurred while visiting clinics, hospitals or similar places, the patient does not need to be hospitalized, but they can claim any expenses without hospitalization. Apart from this, the policyholder can also claim additional expenses with the help of OPD coverage.