Consumers are willing to splurge once again on a range of products. This is just what the doctor ordered for the Indian economy.
It’s a hot Tuesday afternoon at Anant Honda, the largest dealer of Honda motorcycles in Gujarat’s Anand district. Yet, the showroom is abuzz. Salesperson Karan Shah says the beeline of customers for test rides hasn’t abated since the Central government announced a new pay scale for its employees. After a 20 per cent dip in sales last year, this year’s festive sales may hit a new record. “I have sold 30 bikes to government employees in the past one month, which has never happened earlier,” says Shah. The Seventh Pay Commission recommendations raised the basic salary of four million government employees and six million retired employees by 2.57 times. And One Rank, One Pension directly benefits 1.8 million ex-servicemen. Shah says Honda’s attractive ₹2,000 discount (3-5 per cent) scheme for government employees was the game-changer. Clearly,with the additional salary disbursement starting to take place, the feel-good sentiment has set in.
In West Bengal, Durga Puja sales have just concluded. Most retailers claim significantly higher sales than last year. According to Vasanth Kumar, Executive Director, Max Fashion Retail, like- to-like growth this year across its stores in West Bengal and Kerala (which recently celebrated Onam) have increased by 30 per cent, compared to 16 per cent last year. Anirudh Dhoot, Director, Videocon Industries, says that sales from Durga Puja and Onam grew by 15 per cent: “By Diwali, I expect 25-30 per cent jump in sales.” Videocon’s festival sales last year grew barely 10 per cent.
Diese Geschichte stammt aus der November 06, 2016-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der November 06, 2016-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS