Chennai

Govt booster shot on single brand retail gets mixed reactions

In 2012, Swedish furniture major IKEA started doing research in India going from one household to another in different cities to understand the needs of the Indian consumer. In 2013, it announced plans to invest Euro 1.5 billion or around Rs 10,500 crore in India over a period of 15 to 20 years. It planned to set up 25 furniture stores, restaurants and food marts under the IKEA brand in a phased manner.

Gold seen at $1,400 this year as China demand firms up

Gold prices on Thursday broke its one-month rally that flared prices by $100 an ounce. Though not many triggers are available in the bullion market now, if the yellow metal manages to break last year’s peak levels, chances of a resumption in the rally are pretty high.

Since mid-December, gold prices have been moving up sharply, rising from $1,234 per ounce levels in the international market to a high of $1,340 on Monday. With this, gold got closer to 2016 and 2017 high levels of $1,360- $1,370. In the Indian market, gold moved up to Rs 31,050 per 10 gm levels.

New licencing system for contract staffing firms on cards

The government is in the process of bringing in licensing system for contract staffing companies by amending the Contract Labour Act. This would pave for the growth of the organised temporary staffing companies, which currently account for less than 10 per cent of the staffing activity.

The labour ministry has been conducting discussions with trade unions, contract staffing companies and industry bodies on this. The industry expects a licensing system to be introduced in a quarter or two. 

Chinese looks to India for tourism

China is not a major source market for Indian tourism yet. But there is a clear opportunity for the tourism sector as China has recorded the fastest growth in terms of interest in visiting Indian destinations in 2017.

Chinese tourists are increasingly searching for Indian destinations, hotels and restaurants. As per a TripAdvisor study, China topped the list of countries with gr­owing interest in India, with 134 per cent year-on-year growth recorded last year.

Omni-channel is the way forward

More than FDI (foreign direct investment) in single brand retail, omni-channel will trigger growth in the organised retail. Within a few years, the concept of organised brick-and-mortar retail and e-commerce as separate entities will no longer exist, say experts.

Half of internet users in India are dormant

With 500 million users, India boasts of being the second largest internet user market after China. However, half of this population is dormant and has not even scaled up to the first stage of using social media.

I-T sleuths raid Joyalukkas stores

As part of increasing the scrutiny on jeweller community across the country, income tax (I-T) raids were held in over 125 locations of south-based jewellery cha­ins, including Joyalukkas, on Wednesday. Income tax officials conducted raids at all the stores, offices and residential premises of Joyalukkas in Kerala, Tamil Nadu, Karnataka, An­d­­hra Pradesh, Telangana, Gujarat, West Bengal, New Delhi, West Bengal and Maharashtra. Residential pre­mises of some of the key employees were included in the raids.

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