A study by McKinsey & Company offers empirical evidence of why growth matters for a business. And its findings have led the global consultancy to advocate that businesses should set top-line growth targets not in relation to nominal GDP expansion, beating which often finds mention in corporate annual reports, but against the pace of the industry they operate in, ideally aiming to grow at twice or thrice that rate. Looking to outpace an economy is neither ambitious nor relevant in a rivalrous context. McKinsey’s analysis of 837 listed firms in India with revenues of over ₹750 crore in 2021-22 found that over the decade till 2022, the fastest fifth’s annual revenues grew 1.5 times the 10% pace of our average nominal GDP over that period. But most fared poorly, with the slowest quintile’s revenues shrinking 16% annually. It’s clear that Indian companies must get more ambitious on top-line expansion and compete with peers in their own field. Staying ahead within the markets they address is also what should interest shareholders more.
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World Bank calls for reforming skills training in India
India must make a coordinated effort to reform and rebrand vocational skill training, besides aligning education with the job market, to leverage its demographic advantage to meet the $5-trillion target for its economy, the World Bank said.
FCPA cases take long to conclude after indictment
For investors keen to know the fate of billionaire Gautam Adani's indictment by US authorities, the watchword is patience.
Short-covering, relief rally add ₹7.27 trillion wealth
Markets up 2.39% to hit the highest in six months, a day after Adani's indictment
Wetter monsoon slows pace of adding new transmission lines
India's addition of new power transmission lines fell by half over a year earlier in the April-October period as a wetter-than-usual monsoon slowed work.
COP29's $1.3 tn fund plan disappoints Global South
The 29th edition of the UN climate change conference in Azerbaijan emerged from a deadlock with an annual climate finance goal of $1.3 trillion for developing countries, much to the disappointment of the Global South.
Jaguar rebrand is pink, diverse and doesn't feature any cars
Luxury automaker Jaguar is betting that a colorful and youthful rebrand will help it successfully launch fully into the electric-cars market.
Services up as manufacturing slows in Nov
The HSBC Flash India Services PMI was at 59.2 in Nov from 58.5 in Oct; manufacturing PMI fell slightly from 60.4 to 60.2
MSMED may protect medium firms too
The Centre may consider including medium enterprises for the protection granted under MSME Development (MSMED) Act, 2006, to resolve payment disputes.
Europe boosts Indian textile exports in FY25
Demand for Indian handloom, apparel partly fuelled by Bangladesh crisis
RBI nudges banks to cut speculative bet in rupee
The Indian central bank, in a rare move, instructed some banks to cut their long positions on the dollar-rupee pair on Friday, seeking to curb speculative positions with the currency at a record low, four bankers familiar with the development told Reuters.
