Monday, October 26
The government is working on an export strategy to further accelerate the country's goods and services shipments, Commerce and Industry Minister Piyush Goyal has said. He said the ministry is working on a "very" targeted manner to take the exports to USD 2 trillion by 2030 by addressing concerns of exporters and identifying areas of India's competitive advantages and strengths. "Export of both goods and services are doing good despite global challenges... We are working on an export strategy to see how we can fast track growth of exports of both goods and services," Goyal told PTI. In 2024-25, the exports are expected to cross USD 800 billion. It was USD 778 billion in the previous fiscal year. Asked about his expectations from the forthcoming Budget for exports, the minister said Prim
Discounts have peaked in categories such as apparel, shoes and general household products while auto manufacturers are continuing the high promotional offers of December even in January and delaying the proposed price hike, with brands and retailers continuing to be saddled with high unsold inventory amidst subdued demand and delayed onset of winter.Several brands such as H&M, Zara, Levis, Lacoste, And, Gas, Bata have started to offer discounts as high as 50-70%. Discounts during upcoming Republic Day sales will also be steep with some like Fab India already promoting it. Even ecommerce marketplaces are going to offer up to 80% discounts this year during their Republic Day sales expected to start mid-January, industry executives said.Car dealers said there has been no major reduction i
The market ended the week on a pessimistic note, with a sell-on-rally sentiment dominating due to the strong US dollar, high valuations, and investors gravitating toward a multi-asset strategy.The auto sector outperformed other indices, buoyed by strong December sales that defied typically subdued demand. Meanwhile, mid and small caps showed a modest recovery, while large caps trailed behind.With the current market scenario, analyst Rahul Ghose, Founder of Hedged.in interacted with ET Markets regarding the outlook on Nifty and Bank Nifty and an index strategy for the upcoming week. Following are the edited excerpts from his chat:What is your view on Nifty? The index has been witnessing a lot of volatility and certainly lacks a concrete direction at this time. What are your thoughts?Despite
