There is no proposal at present to impose import restrictions on more electronic goods, Commerce Secretary Sunil Barthwal said on Monday
Published Date – 07:45 PM, Mon – 14 August 23
There is no proposal at present to impose import restrictions on more electronic goods, Commerce Secretary Sunil Barthwal said on Monday
New Delhi: There is no proposal at present to impose import restrictions on more electronic goods, Commerce Secretary Sunil Barthwal said on Monday.
The government has decided to impose import curbs on laptops, personal computers and certain more electronic devices from November 1 on security grounds to reduce imports from nations like China and boost domestic manufacturing. Barthwal said there is a production-linked incentive (PLI) scheme for electronics and mobile manufacturing.
“We are monitoring our imports. We are also looking that there should not be undue dependence on any particular country. We want to diversify both our exports as well as our imports.
“We do not want ourselves to be dependent upon very few sources of imports…So what we are doing, we are evaluating the position in consultation with various ministries. We are looking at trends, but there is nothing in the offing, as of now,” he told reporters here.
He was replying to a question about whether the government is looking at putting more electronic goods under the licensing regime.
“As and when we feel that…we will do it in consultation with the ministries. But currently, there is no such move,” the secretary added.
A total of 98,975 square yards, which will be available in 300 plots of various sizes, will be up for e-auction in the phase-II of Mokila layout
Published Date – 08:16 PM, Mon – 14 August 23
Hyderabad: The Hyderabad Metropolitan Development Authority (HMDA) on Monday released notification to conduct phase-II e-auction of 300 open plots at Mokila layout, Shankerpally mandal, Rangareddy district from August 23.
A total of 98,975 square yards, which will be available in 300 plots of various sizes, will be up for e-auction in the phase-II of Mokila layout. Like in the first phase, the upset price for the e-auction in the second phase will start at Rs 25,000 per square yard (Minimum Upset Price) with an increment of Rs 1,000 per square yard during bidding. The Earnest Money Deposit (EMD) to participate in the e-auction is Rs 1,00,000.
During last week’s first phase of the e-auction at Mokila layout, the HMDA had received overwhelming response from investors. By the end of the e-auction in the first phase, the HMDA received revenue of Rs 121.40 crore, which was more than three times the base value. The cost of per square yard in the first phase of e-auction of Mokila layout reached a high of Rs 1,05,000.
Registrations to participate in the e-auction are open from Monday, August 14 and HMDA will conduct the pre-bid meeting with prospective buyers at 11 am on Thursday, August 17.
The last date for registration and submitting the EMD is August 21 and the dates of e-auction will be on August 23, 24, 25, 28 and 29 with authorities adding that a total of 60 plots will be auctioned every day.
The Mokila layout, which is spread over an area of 165 acre, is just two kilometers from Narsingi-Shankerpally main road. While a total of 50 open plots were put up for auction in the first phase, in the second phase, HMDA will put 300 plots for auction.
New Delhi: Edtech major BYJU’s on Monday said it has roped in former senior executive of IT company Infosys, Richard Lobo, to drive the company’s human resource functions. Lobo joins BYJU’s after a 23-year career at Infosys, where he held various leadership roles, most recently serving as its EVP and Head of Human Resources, the […]
Published Date – 10:31 PM, Mon – 14 August 23
New Delhi: Edtech major BYJU’s on Monday said it has roped in former senior executive of IT company Infosys, Richard Lobo, to drive the company’s human resource functions.
Lobo joins BYJU’s after a 23-year career at Infosys, where he held various leadership roles, most recently serving as its EVP and Head of Human Resources, the edtech firm said in a statement.
“His extensive experience and leadership in HR will be instrumental in further enriching our work culture and ensuring that the welfare of our team members remains at the core of every decision we take,” BYJU’s Founder and CEO Byju Raveendran said.
“I’m excited to take on this pivotal role and work closely with the team at BYJU’s to build on their achievements, and help transform the organisation to be future ready,” Lobo said.
Richard joined Infosys in 2000.
He is credited with bringing technology and analytics to the HR function as Infosys scaled to become a global leader in technology and consulting, the statement said.
Debt-ridden Vodafone Idea has received funding assurance of up to Rs 2,000 crore from a promoter group entity
Published Date – 11:00 PM, Mon – 14 August 23
New Delhi: Debt-ridden Vodafone Idea has received funding assurance of up to Rs 2,000 crore from a promoter group entity, the company said in a regulatory filing on Monday.
The company has reported gross debt of Rs 2.11 lakh crore as on June 30, 2023.
“The Company has received a communication from a promoter group entity confirming that in the event of any fund requirement for meeting its impending payment obligations by the Company, it shall provide direct or indirect financial support to the extent of Rs 2,000 crore,” Vodafone Idea said in the filing.
Vodafone Idea’s consolidated net loss widened to Rs 7,840 crore in the first quarter ended June 30.
The company had posted a net loss of Rs 7,295.7 crore in the same period a year ago.
The consolidated revenue from operations during the reported quarter increased marginally by 2.3 per cent to Rs 10,655.5 crore from Rs 10,406.8 crore in the June 2022 quarter.
VIL said it is in discussion with various network vendors for the finalisation of our 5G rollout strategy.
The City of Pearls has a realty scene that’s as diverse as it is promising
Published Date – 06:00 AM, Tue – 15 August 23
From luxurious apartments to modern villas, the options are abundant. — Photo: Surya Sridhar
Hyderabad: Are you intrigued by the idea of owning a piece of Hyderabad’s vibrant real estate market? The City of Pearls has a realty scene that’s as diverse as it is promising. In this article, we’ll take you on a journey through the bustling world of Hyderabad real estate, from its dynamic neighbourhoods to the factors driving its growth.
Let’s dive in and uncover the essence of Hyderabad’s realty! Hyderabad, the capital of Telangana, has swiftly evolved into a hub for economic and cultural significance. As you contemplate delving into the city’s real estate market, numerous possibilities await. From luxurious apartments that overlook serene lakes to modern villas nestled amidst lush greenery, the options are as abundant as they are diverse.
Neighborhood Kaleidoscope
Hyderabad’s realty map paints a vivid picture of its diverse neighbourhoods. The historic charm of areas like Charminar blends seamlessly with the contemporary vibes of Hitec City. Whether you’re seeking the tranquillity of Banjara Hills or the vibrancy of Jubilee Hills or the raw energy of Financial District, each neighbourhood has a unique story to tell.
Emerging Trends
With the rapid urbanisation of the city, the real estate landscape is experiencing exciting shifts. High-rise apartments with world-class amenities are on the rise, catering to the modern urban dweller. Furthermore, integrated townships are gaining popularity, offering a holistic living experience with schools, shopping complexes and recreational spaces.
The Buyer’s Dilemma: Apartments or Villas?
Are you torn between the convenience of an apartment and the spaciousness of a villa? The choice is yours to make. Apartments offer a bustling community life, while villas provide privacy and personal outdoor spaces. Consider your lifestyle preferences, family needs, and future aspirations as you make this decision. But on both these counts, Hyderabad Realty offers excellent choices, be it villas or apartments in gated communities.
Connectivity and its Impact
Efficient connectivity is the backbone of any thriving city. Hyderabad’s well-connected roadways and upcoming metro lines have significantly influenced realty trends. Areas with easy access to business districts, educational institutions and healthcare centres are becoming prime real estate hotspots. The infrastructure development in Hyderabad is almost iconic and other cities in India are carefully watching the single-minded devotion of the government in developing the road connectivity through subways, flyovers and metro rail expansion planned.
After all, an excellent road and rail network is one that qualifies the quality of life. The growth story of Hyderabad vouchsafes for it. Ask anyone living in Hyderabad and their appreciative nod is the real testimony.
Green Spaces: Rarity or Necessity?
Amidst the urban hustle, green spaces provide a breath of fresh air. Hyderabad’s real estate developers are embracing the importance of parks, gardens and open spaces within communities. These green lungs not only enhance the aesthetic appeal but also contribute to the residents’ overall well-being.
Commercial Real Estate: Thriving Sector
It’s not just residential realty that’s booming in Hyderabad. The commercial sector is flourishing as well. With a rise in startups and established corporations, the demand for office spaces is on the upswing. The city’s business-friendly environment and skilled workforce make it an attractive destination for corporate ventures.
Plus, the most important aspect of the growth of commercial real estate is the devoted attention of the government in providing the ecosystem for the growth of knowledge-based industry through various measures. The corporate world’s who’s who is present in Hyderabad. Just check the list of corporate companies that have set foot in Hyderabad.
In short, the journey through Hyderabad’s real estate landscape, the city’s offerings are nothing short of captivating. From picturesque neighbourhoods to evolving trends, the charm of Hyderabad realty beckons. Whether you’re a first-time buyer or an experienced investor, the city’s diverse options cater to all. So, take a leap of faith and become a part of Hyderabad’s ever-evolving real estate story.
Frequently asked questions
What are some of the upcoming areas in Hyderabad’s realty?
Emerging areas like Gachibowli, Manikonda, Kokapet, Mokila, Kandlakoya, Kompally, Shamshabad, Srisailam Highway, Chevella route, Patancheru, and Kompally are garnering attention due to their strategic location and future development prospects.
Government initiatives to promote the sector in Hyderabad?
The Telangana government’s policies like TS-iPASS, TS-bPass and RERA have been instrumental in boosting transparency and investment in the realty sector.
How does Hyderabad’s real estate compare to other major Indian cities?
Hyderabad offers a relatively affordable cost of living and real estate prices compared to cities like Mumbai, Delhi, Chennai, Pune and Bengaluru.
What factors should I consider before investing in a commercial property?
Location, accessibility, target audience and potential for rental income are some key factors to evaluate when investing in commercial real estate.
Is the real estate market affected by the city’s rich history and culture?
Absolutely, the city’s historical significance and cultural heritage play a role in shaping the character of its neighbourhoods and architectural styles.
India’s imports from Russia doubled to USD 20.45 billion during the April-July period of this fiscal due to increasing inbound shipments of crude oil
Published Date – 06:20 PM, Tue – 15 August 23
Representational Image
New Delhi: India’s imports from Russia doubled to USD 20.45 billion during the April-July period of this fiscal due to increasing inbound shipments of crude oil and fertiliser from that country, according to the commerce ministry data.
With this, Russia has become India’s second largest import source during the first four months of this fiscal. The imports were USD 10.42 billion during April-July 2022.
From a market share of less than 1 per cent in India’s import basket before the start of the Russia-Ukraine conflict, Russia’s share of India’s oil imports rose to over 40 per cent.
India, the world’s third-largest crude importer after China and the United States, has been buying Russian oil that was available at a discount after some in the West shunned it as a means of punishing Moscow for the invasion of Ukraine.
The ministry’s data showed that imports from China dipped to USD 32.7 billion during the April-July period as against USD 34.55 billion in the same period last year.
Similarly, imports from the US declined to USD 14.23 billion during the period under review from USD 17.16 billion in April-July 2022. The imports from UAE too contracted to USD 13.39 billion during April-July 2023 as against USD 18.45 billion in the same period last year.
On the export front, India’s exports to seven of its top 10 destinations have recorded a negative growth rate during the period.
During the first four months of this fiscal, the country’s merchandise exports to the US, UAE, China, Singapore, Germany, Bangladesh and Italy have dipped.
However, the exports to the UK, Netherland, and Saudi Arabia have recorded a positive growth.
India’s exports contracted by 15.88 per cent, the sixth month in a row, to USD 32.25 billion in July this year due to a global slowdown and fall in shipments of key sectors like petroleum, gems and jewellery.
Imports during the month also declined by 17 per cent, the eighth month in a row, to USD 52.92 billion from USD 63.77 billion in July 2022. This led to a narrowing of the trade deficit to USD 20.67 billion against USD 25.43 billion in July 2022.
Continuously challenging the limits of smartphone aesthetics, realme has ventured into partnerships with skilled designers and renowned brands.
Published Date – 02:00 PM, Wed – 16 August 23
New Delhi: In the world of smartphones, realme stands out not only for its technological innovations but also for its trailblazing approach to design. From collaborations with master designers to iconic brands, realme has consistently pushed the boundaries of smartphone aesthetics.
realme holds a deep affection for its fans and places significant value on the Indian market. As the brand celebrates five years of “Dare to leap,” it proudly introduces the realme 11x 5G in a stunning new colour — purple. This bold move comes as a part of the 828 Festival, a celebration of realme’s commitment to its fans.
The purple design is inspired from digital lavender — one of the five trends of global spring and summer colors in 2023 released by WGSN and the innovative colour system COLORO. The digital lavender has the characteristics of stability and harmony, exudes a sense of vitality, highlighting the temperament of personality and fashion. Digital lavender is deeply integrated into digital culture, diluting the dividing line between the virtual world and real life, and filling the imagination space.
The dreamy and healing properties of the purple, with the blessing of metal embellishment, create a surreal and soft atmosphere, reshaping the romantic aesthetics of Gen Z. realme brings this unique design to fans, hoping all young people can enjoy a happy tech life.
For half a decade, realme has fostered a culture of “leap-forward design,” bringing unique and delightful designs to its users. The realme GT Master Edition and realme GT2 Pro Master Edition, co-created with Naoto Fukasawa, showcased an amalgamation of natural colors and vegan leather, drawing inspiration from the textures of travel suitcases.
This tactile and visual innovation earned the realme GT Master Edition the prestigious iF Design Award. realme’s design philosophy extends beyond the ordinary, with concepts like the “Garlic” and “Onion,” inspired by the texture of kitchen staples used to create realme X Master Edition, and the “Red Brick” and “Concrete,” drawing from architectural elements in realme X2 Pro Master Edition.
Each design resonates with the beauty of mundane life, challenging conventional notions of smartphone aesthetics.
Continuing its journey of innovative collaborations, realme partnered with former GUCCI print and textile designer Matteo Menotto for the realme 11 Pro Series 5G.
The result was the captivating “Sunrise Beige” concept, paying homage to Milan’s fashion scene. With three-dimensional stitching and lychee vegan leather, the design elevated smartphone texture to new heights, captivating the fashion-conscious youth.
realme’s penchant for collaboration extended to iconic brands, as seen in the realme 10 Pro 5G Coca-Cola Edition.
In a remarkable foray into pop culture, realme’s collaborations ventured into the realms of big IPs with anime, gaming, and film areas.
This partnership with Coca-Cola resonated with fans globally, fusing cutting-edge technology with the nostalgia of a beloved brand.
From Naruto to Dragon Ball, iconic imagery found its place on realme smartphones, creating exclusive editions that resonated with the fans of these franchises, and catering to the fandom and highlighting realme’s commitment to youthful innovation.
Marking another milestone, realme introduces the realme 11x 5G in a mesmerizing purple hue based on the insights of industry trends. This bold and vibrant color choice resonates with the brand’s desire to be different.
The launch coincides with the 828 Festival, a testament to realme’s dedication to its fanbase.
As realme continues to innovate and collaborate across creative horizons, the introduction of the first purple design with the realme 11x 5G cements the brand’s position as a trendsetter in the world of smartphones.
With its rich history of daring designs, realme consistently caters to young hearts that seek products that not only push technological boundaries but also celebrate creativity and self-expression.
The purple marvel stands as a tribute to the brand’s five years of relentless innovation, setting the stage for more exciting leaps in the future.
Preliminary data from state-owned firms revealed that India’s petrol and diesel consumption experienced a decline in the first half of August compared to both the previous month and the same period last year.
Published Date – 02:10 PM, Wed – 16 August 23
New Delhi: India’s petrol and diesel consumption fell in the first half of August from the previous month and a year ago, as monsoon rains hit mobility and slowed industrial activity, preliminary data of state-owned firms showed on Wednesday.
This is the second month in a row that fuel sales have fallen. The four months of monsoon generally see muted consumption. Consumption of diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, fell 5.7 per cent to 2.67 million tonnes from August 1 to 15, compared to the year-ago period.
Consumption had fallen by a steep 15 per cent in the first half of July but picked up in the second fortnight. Month-on-month sales fell 9.5 per cent, when compared with 2.95 million tonnes of diesel consumed in the first half of July.
Diesel sales typically fall in monsoon months as rains lower demand in the agriculture sector which uses the fuel for irrigation, harvesting and transportation. Also, rains slow vehicular movements. Consumption of diesel had soared 6.7 per cent and 9.3 per cent in April and May, respectively as agriculture demand picked up and cars yanked up air-conditioning to beat the summer heat. It started to taper in the second half of June after the monsoon set in.
Petrol sales fell 8 per cent to 1.19 million tonnes in the first fortnight of August, when compared with the same period last year. Consumption had dropped 10.5 per cent in the first fortnight of July but picked up in the latter half. Sales were down 5.2 per cent month-on-month, the data showed.
India’s economy has demonstrated remarkable resilience and is likely to have surpassed the performance of most major economies during the first half of 2023. With steady and healthy economic activity and ongoing air travel recovery, India’s demand for oil products is anticipated to remain strong in the remainder of the fiscal, analysts said.
Consumption of petrol during August 1-15, was 20.6 per cent more than in the COVID-marred first half of August 2021 and 25.6 per cent more than in pre-pandemic August 2019. Diesel consumption was up 26 per cent over August 1-15, 2021 and 16.8 per cent when compared with August 1-15, 2019.
With the continuing rise in passenger traffic at airports, jet fuel (ATF) demand rose 8.1 per cent to 290,300 tonnes during the first fortnight of August as compared to the same period last year. It was 66.7 per cent more than in August 2021, but 4.1 per cent lower than pre-COVID August 2019.
Month-on-month jet fuel sales fell 2.1 per cent when compared with 296,500 tonnes in July 1-15, 2023. Cooking gas LPG sales were up 3.7 per cent year-on-year to 1.21 million tonnes in August 1-15. LPG consumption was almost 12 per cent higher than in August 1-15, 2021 and 11.2 per cent more than pre-COVID August 1-15, 2019.
Month-on-month, LPG demand was however down 2 per cent compared to 1.23 million tonnes of LPG consumption during July 1-15, the data showed.
The new model of the hit car is priced between Rs 10.89 lakh and Rs 19.99 lakh (ex-showroom).
Published Date – 02:19 PM, Wed – 16 August 23
Photo: Kia
New Delhi: Kia India on Wednesday said it has received 31,716 bookings for its newly launched upgraded flagship SUV Seltos in one month.
The company had opened pre-bookings for the new Seltos on July 14 2023. The model is priced between Rs 10.89 lakh and Rs 19.99 lakh (ex-showroom).
“Close to 55 per cent of the bookings for the new Seltos have been placed for the higher-end trims (HTX onwards),” Kia India said in a statement.
Since its launch in India in 2019, the Seltos has clocked cumulative sales of over 5 lakh units, the company said adding, it is the core brand that established Kia in India.
“We are confident that the new Seltos will script a fresh success story and expand the segment significantly in times to come,” Kia India Managing Director and CEO Tae-Jin Park said.
Global headwinds are from the rising dollar index at 103.23 and spiking U.S. bond yields, he said. Consequently, FIIs are selling, taking their cash market sell figure in August, till 15th, to Rs 9,867 crore.
Published Date – 02:45 PM, Wed – 16 August 23
New Delhi: There are strong headwinds, both globally and domestically, that can impact the market in the near-term, said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Global headwinds are from the rising dollar index at 103.23 and spiking U.S. bond yields, he said. Consequently, FIIs are selling, taking their cash market sell figure in August, till 15th, to Rs 9,867 crore.
Domestically, the major headwind is the rising inflation, he said. July CPI inflation has come at 7.44 per cent, which is 1 per cent above consensus estimates.
The CPI inflation for FY’24 will have to be revised upwards to 5.6 per cent. The takeaway from this is that a rate cut can be expected only in H2 of CY24, he added. This is negative for rate sensitives. So, the banking sector, which has been a pressure point for the Nifty is likely to experience more near-term pain. But for long-term investors, the correction can be an opportunity since the sector is doing well and valuations are fair.
Defensives like pharmaceuticals and IT will be relatively safe in the near-term. Rupee will turn weak, he said. BSE Sensex is down 80 points at 65,321 points in Wednesday morning trade.
