NewsBizkoot.com

Tag: recognition

  • The Impact of Gold Import Duty

    V.P. Nandakumar, MD and CEO Manappuram Finance

    INDIA: V. P. Nandakumar, MD and CEO of Manappuram Finance shared with the media, “The Finance Minister’s decision to slash import duty on gold to 6% from 15% in the Union Budget 2024-25 will boost the business of gold loan companies going forward. In my view, the decision will set off an uptick in the gold buying cycle in the short-to-medium term and will be mirrored in the retail sales of gold in the upcoming festive season. Consumers will use this window to buy ornaments to meet their pent-up demand. Demand for gold loans from households is more a function of their requirement for money to meet contingencies than just prices. Secondly, the reduction in gold prices at the retail end is not significant enough to impact the LTV offered by gold loan companies. This means that lower prices will neither trigger margin calls nor will it lead to the repricing or restructuring of existing loans. Finally, it is geo-political factors that exert a predominant influence on gold prices.”

    Previous articleWHEF 2024 Brings Global Economic Leaders to MumbaiNext articleS&P Global Boosts Vedanta Resources To ‘B-‘ Amid Capital Structure And Liquidity Improvements

  • S&P Global Boosts Vedanta Resources To ‘B-‘ Amid Capital Structure And Liquidity Improvements


    Vedanta Resources

    VRL has been significantly deleveraging its balance sheet leading to robust a capital structure that supports sustainable growth over the long term.

    S&P estimates Vedanta Resources Limited (VRL) EBITDA for fiscals 2025 and 2026 to be in the range of US$5.5 billion – US$6.0 billion annually.

    Upgrade in Credit Rating factors that VRL has sufficient internal resources to meet debt maturities until December 2025

    Estimate that the debt at the Vedanta Resources level could decline by another US$1 billion to about US$4.5 billion over the next 12 months: S&P

    LONDON: Vedanta Resources Limited (“VRL or the company”), the world’s leading natural resources, energy, and technology conglomerate today announced that S&P Global Ratings (“S&P”) has upgraded its ratings from ‘CCC+’ to ‘B-‘ citing the company’s improving capital structure and liquidity while assigning a stable outlook.

    The rating upgrade reflects VRL’s strong credit profile with a long-standing record of delivering superior performance and healthy free cash flows. VRL has been significantly deleveraging its balance sheet leading to a robust capital structure that supports sustainable growth over the long-term.

    S&P revised its estimates on VRL’s earnings, estimating the EBITDA for fiscals 2025 and 2026 to be in the range of US$5.5 billion – US$6.0 billion annually.

    The rating agency also estimates the debt at the Vedanta Resources level to decline by another US$1 billion to about US$4.5 billion over the next 12 months. It also estimates interest expenses at the Vedanta Resources level to drop to US$550 million–US$600 million by the end of fiscal 2025 (ending March 31, 2025).

    S&P noted in its research update that VRL has adequate internal funds to meet US$1.4 billion of debt maturities due by the end of 2025. The stable outlook reflects our view that the company will proactively address the maturity of US$1.2 billion of debt in April 2026, the firm said in its research update.

    Key factors noted by S&P in its research update include:

    VRL’s strengthening cash flow position and the recent increase in the valuation of Vedanta Ltd. shares improve funding flexibility.

    VRL’s earnings are benefitting from favorable product prices and cost-reduction initiatives, particularly in the aluminum business.

    S&P expects zinc EBITDA to increase by about 25% and aluminum by almost 50% in fiscal 2025.

  • Dive into the World of Manufacturing with Invesco Mutual Fund’s Latest Offering

    NFO opens: 25th July 2024 ; closes: 8th August 2024

    MUMBAI: Invesco Mutual Fund today announced the launch of its new fund Invesco India Manufacturing Fund, (an open-ended equity scheme following a manufacturing theme).

    Invesco India Manufacturing Fund seeks to generate capital appreciation and will invest 80% – 100% in equity & equity-related instruments of companies following the manufacturing theme. This fund is designed to capitalize on the tremendous growth potential within India’s manufacturing sector and will invest across market capitalization to have a well-diversified portfolio of 50 – 60 stocks. The fund will be benchmarked to Nifty India Manufacturing TRI and will be managed by the fund managers, Mr. Amit Ganatra and Mr. Dhimant Kothari.

    Speaking at the launch, Amit Ganatra, Head of Equities & Fund Manager, Invesco Mutual Fund said, “The manufacturing sector stands at the cusp of a significant transformation, driven by robust domestic demand, global supply chain realignments, stable inflation and interest rates, and supportive government policies. The government is actively implementing policies, incentives, subsidies, lowering corporate tax rates, and increasing capital expenditures to position India as a global manufacturing hub. These factors collectively position India as a promising destination for manufacturing investments, poised for robust growth in the coming years.”

    Amit Ganatra further said, “With a large pool of entrepreneurial talent and substantial export potential, the sector offers immense opportunities for investors. Initiatives like ‘Make in India’ and infrastructure development, along with competitive advantages in labor, energy, land, capital, and entrepreneurship will further bolster this sector.

    The recent Budget 2024-25 announced by the Government provides special attention to MSMEs and manufacturing, particularly labor-intensive manufacturing, with a comprehensive package covering financing, regulatory changes, and technology support.”

    The minimum investment amount during the NFO is Rs. 1,000/- and in multiples of Re. 1/- thereafter. For SIP investments, the minimum application amount is Rs. 500/- and in multiples of Rs. 1 thereafter. The fund will charge an exit load of 0.50% for units redeemed/switched out on or before 3 months from the date of allotment. No exit load will be charged if units are redeemed/switched out after 3 months from the date of allotment.

    The New Fund Offer (NFO) is now open for subscription from today (July 25, 2024) and will close on August 8, 2024.

  • Oasis Fertility’s Groundbreaking Initiative For World IVF Day

    CHENNAI: In recognition of World IVF Day, Oasis Fertility, today announced the launch of its groundbreaking awareness campaign, ” Break the Test Tube & Break the Taboo,” across all its centers. This initiative aims to challenge societal stigmas associated with In Vitro Fertilization (IVF) and to promote awareness about the advancements and safety of Assisted Reproductive Technologies (ART).

    Breaking the Stigma Surrounding IVF

    The “Break the Test Tube & Break The Taboo” campaign is rooted in the understanding that societal perceptions often label IVF as an unnatural and lesser form of conception. Such views can discourage individuals and couples from seeking the fertility help they need. Oasis Fertility is committed to dispelling these myths and demonstrating that IVF, backed by advanced science and technology, is a safe and effective method of achieving pregnancy.

    Dr. Durga G Rao, Co-founder and Medical Director, of Oasis Fertility, said, “IVF is much more than a test tube baby. Over the past 50 years, ART has evolved tremendously, incorporating various scientific techniques such as Preimplantation Genetic Testing (PGT) and Endometrial Receptivity Array (ERA). These advancements ensure that IVF is as natural and safe as any other pregnancy method.

    To address critical gaps in women’s health in India, particularly in preventive care and preconception counseling. We empower first-time mothers with doctor-reviewed pregnancy care information, reducing pregnancy risks and enhancing maternal health outcomes.”

    To further encourage individuals to overcome societal taboos and seek fertility treatment, Oasis Fertility is offering a special 15% discount on spot IVF bookings made between July 25th and 28th at all of their centers, spread across Hyderabad, Bangalore, Chennai, Pune, Vijayawada, Visakhapatnam, Chennai, Vadodara, Raipur, Ranchi, Bhubaneswar and other towns in Telangana, Andhra Pradesh, Karnataka & Maharashtra. This offer includes all necessary medications and cannot be combined with other promotional offers. By offering this discount, we hope to make fertility treatments more accessible and encourage people to take the first step towards fulfilling their dream of parenthood.

    Oasis Fertility stands at the forefront of using cutting-edge scientific practices to ensure the birth of healthy babies. The campaign underscores the importance of viewing IVF through the lens of modern science rather than outdated societal notions. By highlighting the safety, efficacy, and natural aspects of IVF, Oasis aims to make the idea of seeking fertility help more acceptable and less intimidating.

    This World IVF Day, Oasis Fertility encourages you to talk about fertility issues and the assistance available through scientific advances in IVF & other advanced reproductive technologies. Inviting everyone to take a pledge to shatter the stereotypes, break the taboo & bust the myths around IVF, and spread awareness about the science of fertility, with empathy and love for all the beautiful couples who are just waiting to hold their baby in their arms.

    If you or anyone you know is unable to get pregnant or have a baby, get a free consultation with the fertility experts at Oasis by calling 1800 3001 1000.

  • Honda Racing India Gears Up For Round 4 Of 2024 FIM Asia Road Racing Championship In Indonesia


    IDEMITSU Honda Racing India team

    MUMBAI: With the season in full swing, the IDEMITSU Honda Racing India team from Honda Motorcycle & Scooter India (HMSI) is all set to make their mark at the fourth round of 2024 FIM Asia Road Racing Championship at the Pertamina Mandalika International Circuit in Indonesia this weekend.

    Following a consistent performance in the last round of the championship, the Indian team heads into the fourth round with a total of 12 points in the Asia Production 250cc (AP250cc) class.

    Sharing his thoughts, Kavin Quintal said, “Reflecting on the challenges of the last round, it’s clear that this has been a tough round for us. While I was able to demonstrate some resilience and keep up with the competition, unforeseen mechanical issues with my bike forced me to retire from the race. I am focusing on understanding what went wrong and making the necessary adjustments. This experience will be a valuable part of my journey, and I am determined to come back stronger. I appreciate everyone’s continued support and look forward to delivering improved performances in the next races.”

    Looking forward to the next round, Mohsin Paramban said, “The last round in Japan was certainly challenging but also filled with valuable lessons. My focus was on maintaining consistency and making strategic moves throughout the race. Competing against such a strong international field pushes you to your limits and teaches you to stay composed under pressure. I am grateful for the experience and the support from my team, which has been instrumental in my performance, and determined to give my best in every race.”

    The 27th edition of the FIM Asia Road Racing Championship is Asia’s most competitive motorcycle road racing championship, held since 1996. The 2024 season will have six rounds beginning with the official test and season opener at the Chang International Circuit (Thailand) from 15-17 March 2024. In April 2024, the Zhuhai International Circuit, China hosted the second leg and in June Round 3 was held at the Mobility Resort Motegi, Japan. The host venue for Round 4 will be Pertamina Mandalika International Circuit in Indonesia. Rounds 5 and 6 will be held in September and December in Malaysia, and Thailand, respectively.

  • Join World University Of Design’s School Of Visual Arts Master Programs In The 2024 Academic Session


    The School of Visual Arts (SoVA), part of World University of Design (WUD)

    DELHI-NCR: The School of Visual Arts (SoVA), part of the World University of Design (WUD), is now accepting online applications for its Master’s programs in Visual Arts for the academic year 2024. The school offers a variety of two-year Master of Visual Arts (MVA) programs, focusing on Contemporary Art Practice, Curation of Contemporary Art, and Art Education.

    To streamline the application process, the university has ensured easy accessibility to necessary forms through its official website. Eligibility for admission requires Indian applicants to hold a Bachelor’s degree in Visual Arts or a Master’s degree in any field, while international applicants must demonstrate equivalent qualifications from recognized institutions.

    These programs offer extensive networking opportunities through exhibitions, guest lectures, residencies, and workshops. They utilize advanced technology to enrich artistic expression and creativity, with a strong focus on engaging the public through art presentations, exhibitions, and installations. Embracing an interdisciplinary approach, the curriculum integrates aspects of art history, museum studies, anthropology, archaeology, and other disciplines, providing a comprehensive educational experience in visual arts and related fields.

    One notable program is the MVA in Curation of Contemporary Art and Design, the first of its kind in India solely focused on Art Curation. This pioneering program explores art history, philosophy, and cultural contexts deeply while teaching students how to create impactful exhibits and cultivate a unique curatorial style. Prospective students for any of the courses must submit a strong portfolio demonstrating their commitment and talent in Visual Arts. The application deadline is July 31, 2024, with continuous online exams held every Friday to aid in the admission process.

    The School of Visual Arts provides scholarships based on entrance exam results and offers special support to children of defense personnel, educators, and individuals with national-level sports achievements. These educational programs prioritize creative expression, empowering students to develop their distinct artistic styles. The curriculum effectively blends modern technology with traditional methods and encourages public interaction through presentations, exhibitions, and installations.

    SoVA maintains strong partnerships with renowned organizations, galleries, and companies like Niv Art Center, Art & Deal, Navya Art Gallery, and many more. These partnerships provide students with essential opportunities for career growth and networking in the art industry.

    Dr. Sanjay Gupta, Vice Chancellor of the World University of Design (WUD), Sonipat, emphasized, “In our Master of Visual Arts program, we strive to cultivate an environment where creativity and academic rigor coexist. Our students not only develop technical skills but also gain a deep understanding of the cultural and historical contexts that shape contemporary art practices. With a strong emphasis on interdisciplinary learning and real-world applications, our graduates are well-prepared to become leaders in their respective fields. We are proud of our partnerships with renowned galleries and institutions, which provide our students with unparalleled opportunities for professional growth and development.”

  • Embassy REIT’s Impressive Growth: Leasing 1.9 Million Square Feet And Increasing Distributions By 4% YoY in Q1 FY2025

    Leases 1.9 msf across 22 deals with 70% of leasing by area driven by Global Capability Centres

    Redeveloping 0.9 msf at Embassy Manyata in Bengaluru; leasable area expands 3x with potential 20% yield on cost

    Actively developing 8.6 msf; ~70% of next 2 years’ deliveries pre-leased to leading multinationals; potential increase in NOI by ~₹1,000 crores on a stabilized basis

    Three office parks at 100% occupancy; Bengaluru, Mumbai, and Chennai properties at ~90%, 99%, and 95% occupancy, respectively; all three markets cumulatively represent 86% by value

    Distributes ₹531 crores or ₹5.6 per unit, up 4% YoY and 7% QoQ

    BENGALURU: Embassy Office Parks REIT (NSE: EMBASSY / BSE: 542602) (‘Embassy REIT’), India’s first listed REIT and the largest office REIT in Asia by area, reported results today for the first quarter ended June 30, 2024. 

    Aravind Maiya, Chief Executive Officer of Embassy REIT, said, “We are delighted to report another excellent quarter of strong leasing across our portfolio. We leased 1.9 msf this quarter, marking a 70% YoY increase, and we have a strong pipeline across Bangalore, Noida, and Chennai. We are excited to strengthen our partnership with one of our largest occupiers through a new redevelopment project at Embassy Manyata, a testament to our best-in-class office solutions. Our distributions have grown 4% YoY, and we crossed the 100k unitholder mark this quarter, a 25x increase since our listing. We’re seeing a lot of tailwinds in our business, and we are focused on sustaining this momentum and delivering value to all our stakeholders.”

    The Board of Directors of Embassy Office Parks Management Services Private Limited (‘EOPMSPL’), Manager to Embassy REIT, at its Board Meeting held earlier today, declared a distribution of ₹531 crores or ₹5.60 per unit for Q1 FY2025. The record date for the Q1 FY2025 distribution is August 02, 2024, and the distribution will be paid on or before August 09, 2024.

    Business Highlights

    Leased 1.9 msf across 22 deals at 11% leasing spreads

    Global Capability Centres (GCCs) remain the primary drivers of demand and contributed 70% of the quarter’s leasing activity

    Bengaluru Occupancy is at ~90%, Mumbai at 99%, and Chennai at 95%. 3 properties at 100% occupancy – Embassy GolfLinks in Bengaluru, Embassy 247, and FIFC in Mumbai. Embassy Galaxy in Noida at 99%.  

    Financial Highlights

    Grew Revenue from Operations and Net Operating Income (NOI) for the commercial office segment by 4% YoY; on track to meet FY25 NOI guidance

    Distributed ₹531 crores or ₹5.60 per unit, up 4% YoY and 7% QoQ

    Raised debt of ₹1,450 crores at an average rate of 8.06%; c.₹18,000 crore debt book remains highly competitive at 7.8% average cost 

    Operational & Growth Highlights

    Completed acquisition of Embassy Splendid TechZone, a ~5 msf premium business park in Chennai

    Launched 0.9 msf office block redevelopment at Embassy Manyata in Bengaluru with a 3x increase in leasable area, at a potential 20% yield on cost

    Strong development pipeline of 8.6 msf with a total capital investment of ₹4,600 crores; expected to add approximately ₹1,000 crores to NOI upon stabilization

    SEZ strategy on track: 3.4 msf denotified since April’23, 0.8 msf demarcated to non-processing areas, with 65% already leased

  • Amazon Prime Day 2024 The Most Epic Shopping Event In India


    Amazon Prime Day 2024

    Biggest Prime Day event with highest engagement, ever: 24% more Prime members in India shopped vs Prime Day 2023, making it the highest ever Prime member engagement during any previous Prime Day event; the maximum number of Prime sign-ups a pre-Prime Day

    Highest ever peak orders for a Prime Day event: Peak of 24,196 orders placed by Prime members in a single minute; Prime members purchased more items than any previous Prime Day shopping event

    The highest number of same-day deliveries than any previous Prime Day event: Most Prime members’ orders from metros were delivered the same day or the next day, and in tier-2 cities were delivered in less than 2 days.

    More than 65% of small and medium businesses receiving a sale during Prime Day 2024 were from tier 2 & 3 cities and beyond. 2 out of 3 Prime members shopped from non-metro cities

    Great deals and product launches: Prime members shopped from thousands of new product launches from over 450 brands and over 3,200 launches from small and medium businesses

    Shopping with Amazon Pay: Prime Day 2024 spending on Amazon Pay ICICI bank credit card was 50% higher than Prime Day 2023. Prime members booked over 50 million km of domestic and international flights during this Prime Day, a 24% increase from Prime Day 2023

    Blockbuster Entertainment and more: In the lead-up to Prime Day Prime Video launched 15 highly anticipated titles across 5 languages that were streamed by Prime members from 4665 Indian towns and cities. Launched as part of the line-up, the much-loved Mirzapur Season 3 became the most-watched show ever on Prime Video in India, with the show also featuring in the Top 10 Trending list in more than 85 countries and territories over the launch weekend itself. With viewers from 200 countries and territories tuning in to watch the Prime Day titles, Prime Video continues to deliver blockbuster hits and take India’s stories to the world

    BENGALURU: Amazon India announced that Prime Day 2024 was the biggest Prime Day shopping event ever, with record sales and more items sold during the two-day event than any previous Prime Day event. Not just that, the 8th Prime Day witnessed the highest number of Prime members who ever shopped during any Prime Day. 24% more Prime members in India shopped vs Prime Day 2023, making it the highest-ever Prime member engagement during the event. Prime Day 2024 also witnessed the highest-ever Prime membership signups in the two and half-weeks leading up to Prime Day.

    Akshay Sahi, Head of Amazon Prime, Delivery and Returns Experiences, India and Emerging Markets said, “We would like to thank our sellers, brands and bank partners for helping us deliver the biggest ever Prime Day in India. Prime members purchased more items than any previous Prime Day shopping event, and we recorded the highest number of same-day deliveries. We love helping our customers save big, and Prime Day is the ultimate celebration of value, fast deliveries, great deals, new launches, and blockbuster entertainment that the Prime membership provides.”

    Prime members shopped from thousands of new products launched by over 450+ top Indian & global brands such as Intel, Samsung, OnePlus, Honor, iQOO, Bajaj, Agaro, Ecovacs, Crompton, Sony, Mokobara, ITC, Fossil, Puma, Motorola, and Boat to name a few and 3,200+ new product launches from small and medium Indian businesses like Behoma, Dream of Glory, Orika Spices and others. Prime members from across India shopped for cross-category products like shoes, clothes, smartphones, top-load washing machines, pet foods, groceries, etc. Interestingly, 2 out of 3 Prime members shopped from non-metro cities.

    This Prime Day interesting customer trends and consumption patterns emerged across categories. Over 70% of the demand for Smartphones came from Tier 2 & 3 cities, Apple iPads saw 23x growth in sales and Samsung Galaxy Tabs saw a surge of 17x in sales vs the previous Prime Day. Home Entertainment witnessed 26% growth in sales vs last Prime Day as members enjoyed shopping from brands such as Sony, Samsung, Xiaomi, TCL & LG. In Amazon Fresh, Muesli, Eggs, Seeds & Dry Fruits emerged as the top breakfast choices for India with a 1.6x growth YoY vs last Prime Day. Customers couldn’t get enough of Beauty offers on Prime Day deals, with makeup and skincare brands spiking upto 3X YoY, led by brands like Sugar Cosmetics, Lakme, and Maybelline. Quirky colors and multi-functional travel luggage bags saw a 10X growth from D2C brands across like Mokobara, Nasher Miles, Safari American Tourister, etc. Laptops, headphones, speakers, and computer accessories saw up to 20% growth in sales compared to Prime Day 2023. New launches in smartphones witnessed great traction among customers with iQOO Z9 Lite 5G, Samsung Galaxy M35 5G, and OnePlus Nord CE4 Lite 5G emerging as top-selling new launches.

    Prime Day 2024 was a resounding success for small and medium businesses (SMBs) across India. The number of SMBs receiving a sale during Prime Day 2024 reached an all-time high across all editions, with over 30% increase compared to last year. More than 65% of SMBs receiving a sale during Prime Day 2024 were from tier 2-3 cities and beyond. small and medium businesses, including women entrepreneurs, weavers, and artisans, sold over 1,600 units per minute during the event.

    Vineet Gehani, Sr. Director – PC Category, HP India Sales Pvt Ltd. says, “We are extremely happy to have been associated with Amazon’s Prime Day this year. The success of the event was a testament to our growing partnership with Amazon.”

    Nipun Marya, Chief Executive Officer – iQOO says “We are humbled with the tremendous success of our iQOO smartphones during the Amazon Prime Day 2024 sales. Our products have consistently received high ratings on the platform, which is a testament to our commitment to providing high-performance smartphones. Our latest offering, iQOO Z9 Lite 5G, received an overwhelming response, becoming the No.1 best-selling smartphone* across price segments during Prime Day 2024. Amazon has been an essential partner of our journey since our inception in India, and our partnership has continually grown stronger over the years to serve customers pan-India” (*by sales volume)

    Sangeet Agarwal- Co-founder of Mokobara said “This marks our second year launching products on Amazon Prime Day, and the response has been nothing short of extraordinary! We’ve seen a remarkable 10x increase in overall sales vs BAU justifying the prime customer-only promotions offered. Prime Day has undoubtedly been instrumental in our growth strategy, and we’re excited to build on this success and continue delivering exceptional experiences to our customers in the future.”

    Highlights from Prime Day 2024

    Shopping

    Growth for Premium Smartphones (>INR 30,000) continues with more affordability options available for customers such as No Cost EMI & Amazon Pay Later. iPhone 13, Samsung Galaxy S23 Ultra 5G and OnePlus 12R were among the top 3 premium smartphones customers bought this Prime Day’24

    Consumers on Amazon Fresh continued to show their love for summer fruits like mangoes (2.8x YoY) and melons (2x YoY). A growth of 1.6x was also observed in tropical and exotic fruits primarily driven by 20x growth in Thai Guava and 3.6x growth in Avocados (over last year).

    Amazon Fresh consumers also showed higher adoption of healthier choices resulting in a YoY growth of 3x and 1.5x respectively in Mineral supplements and Sports supplements (Protein powders).

    Customers loved shopping from our vast collection of smartwatches and premium watches, witnessing up to 9X spike, especially from smartwatch brands like Titan Smart, Fastrack Smart & premium brands like Seiko, Boss, and Michael Kors.

    Apparel saw a 5X increase in the D2C selection across brands like Fablestreet, Pant Project, & Circus, KETCH, The Indian Garage & Co., and Snitch

    Our premium sports shoes category featuring brands like New Balance, Saucony, and Under Armour witnessed a 3X spike.

    5 units of luxury perfumes were sold every minute with brands in fragrances spiked up to 4X YoY, with customers loving our offers on Calvin Klein, Davidoff, Guess, and more.

    Prime members shopped from top brands such as LG, Samsung, IFB, Bosch, and Haier and upgraded to premium appliances through affordability options of NCEMI, Bank discounts and exchange offers

    We saw customers choosing products with higher capacities and premiumization with the latest features. For example, we sold 2X Side by Side Refrigerators and 9X High-capacity Front loads Washing Machines compared to PD23

    There is a growing customer interest in products catering to children’s learning development and safety. Strong growth was witnessed in the premium Toys category with Lego spiking 13X vs Prime Day 2023, premium electric ride-on spiking 25X vs Prime Day 2023

    Haircare portfolio saw a 6X spike led by customer’s favorite Dyson Airwrap (12X spike) underscoring a rising need for high-quality at-home styling devices and a growing willingness to invest in premium products.

    It’s a good trend to see children’s reading interest on the rise. Fiction, non-fiction & children’s boxsets spiked 5X vs last Prime Day, driven by the most loved Harry Potter book set and deals on notable new launches like Sudha Murty’s Gopi diaries, Amar Chitra Katha story books & more.

    We saw Indian parents increasing inclination in premium baby care products growing +80% YoY. Baby lotions grew by +54% vs LY, while massage oils grew by +72% vs LY, reflecting a rising preference for traditional care practices blended with modern convenience

    Prime members enjoyed big savings on Fire TV Stick making it the second-most purchased product across Amazon.in this Prime Day.

    Prime members continued to make their lives easier with Alexa. Echo Pop and Echo Dot (5th Gen) were purchased 23x and 4x versus last year, respectively.

    Customers also showcased increased awareness towards hygiene & personal care wherein the men’s grooming category grew by 2.3x and feminine hygiene grew by 1.7x

    Overall consumer electronics and personal computing category saw 13% growth in sales compared to Prime Day 2023. During Prime Day, Intel Core Ultra powered Laptops saw an 18X growth in sales vs last Prime Day

    Apple iPads saw 23x growth in sales and Samsung Galaxy Tabs saw a surge of 17x in sales

    Within cameras, action cameras grew by +70% vs last Prime Day

    We also 37% growth in stationery products sold over last year’s Prime Day

    This Prime Day, Home, Kitchen, and Outdoors categories grew 45%+ vs last Prime Day. Strong growth was seen across all key business units like Kitchenware, Home Appliances, Electric vehicles, Home Décor, Sports, Outdoors, and Furniture.

    The strong growth in air fryers (1.65x) led by Agaro and Philips, and water purifiers (1.7x) led by Urban Company and Eureka Forbes, indicates a heightened consumer focus on healthier living and cooking.

    Similarly, a 1.5x YoY spike in treadmill sales, 2x growth in cycles, and 1.4x growth in badminton racket purchases point to customers’ growing commitment to a healthy and active lifestyle.

    Demand for convenient and efficient appliances is on the rise. The robust growth in robotic vacuums (2.75x) led by Dreame and Ecovacs, and in water heaters (1.35x) from Crompton, Bajaj, and V-Guard, underscores a rising need for appliances that simplify and automate household chores.

    Growing demand for two-wheelers online was seen.10x YoY growth in electric vehicles with 1.3 electric scooters (across Chetak, Vida, Green, etc.) sold every 2 minutes; launch of petrol motorcycles and scooters from Bajaj Auto and Hero MotoCorp across 20 cities and a wide range of smart car accessories (105-162% YoY) indicates rising consumer interest in two-wheeler and car-related products.

    India seems to be gearing up to get fitter every day and with style! Premium sports shoes category featuring brands like New Balance, Saucony, and Under Armour witnessed a 3X spike vs last Prime Day. Within handbags, trending handbags from D2C brands like Zouk, and Miraggio witnessed a 2X spike vs last Prime Day.

    SMB

    More than 65% of small and medium businesses receiving a sale during Prime Day 2024 were from tier 2 & 3 cities and beyond.

    The Launchpad program, designed to support emerging brands and startups, saw over 440 unique businesses receiving a sale this Prime Day.

    Over 75,000 Local Shop sellers participated in Prime Day 2024, offering more than 12 million unique products to customers across the country.

    This Prime Day, Local Shops sellers on Amazon.in significantly expanded their two-wheeler offerings. They launched a wide range of petrol motorcycles across various brands, leading to nearly 2,000 two-wheeler units sold by offline retailers within the two days of the event.

    Amazon Pay

    Prime Day 2024 spending on Amazon Pay ICICI bank credit card was 50% higher than Prime Day 2023

    Prime members booked over 50 million km of domestic & international flights during this Prime Day

    Prime members booked hotels and homestays across 2,000+ destinations during this Prime Day

    Entertainment & More

    In the month leading up to Prime Day 2024, Prime Video premiered 15 series and movies across 5 languages with overwhelming response across the length and breadth of the country. Customers from 4,665 towns and cities tuned in to watch Prime Video’s Prime Day line-up. 

    The highly anticipated Mirzapur Season 3, a Prime Day 2024 release, became the most watched show ever on Prime Video in India. The new season featured in the Top 10 Trending lists on Prime Video in over 85 countries and territories worldwide on the launch weekend itself!

    Prime Video continued to make global entertainment more accessible for Indian customers with international Prime Day titles receiving viewership from over 98% of India’s pin codes.

    With viewers from over 200 countries and territories watching Indian titles that were released as part of Prime Day, Prime Video continued to be the global showcase for Indian stories.

    Prime members listened to music in over 100+ languages during Prime Day on Amazon Music. The most streamed song by Prime members was Akhiyaan Gulaab (From “Teri Baaton Mein Aisa Uljha Jiya”). The playlists most listened to by Prime members were 50 Most Played (India & Hindi), Ultimate Love Songs (Hindi) & Desi Vibes. Amazon Music launched exclusive Artist videos for Prime customers which included Artist Diaries featuring Jonita Gandhi, Armaan Malik, Devi Sri Prasad, and Vishal Mishra where Jonita Gandhi’s Artist Diaries quickly became the most watched video on Amazon Music. 4 exclusive Podcasts were also launched first on Amazon Music (Cyrus Says, Be A Man Yaar Season 2, Insta Love Season 2 & Darawani Daastanien) & Prime members streamed podcasts in Hindi, English and many more languages, where the most streamed podcasts were The Stories of Mahabharata and Desi Crime.

    Every day made better with Prime 

    Amazon Prime is designed to make your life better every single day as it provides the best of shopping, savings, and entertainment in one single membership. In India, members get free unlimited Same-Day delivery on 10 Lakhs products, and Next-Day delivery across 40 Lakhs products on Amazon.in, access to exclusive deals, early access to shopping events, exclusive access to Prime Day; and unlimited access to award-winning movies & TV shows with Prime Video, unlimited ad-free access to millions of songs in 20+ languages, 15+ million podcast episodes with Amazon Music, a free rotating selection of more than 3,000 books, magazines and comics with Prime Reading, access to monthly free in-game benefits with Prime Gaming. Prime members also earn unlimited 5% cashback on all purchases on Amazon.in using the Amazon Pay ICICI Bank credit card. Go to www.amazon.in/prime  to learn more about Prime.

  • Experience The Ultimate In Style With The Maruti Suzuki Ignis Radiance Edition: A Youthful And Trendy Choice


    Ignis Radiance Edition

    New Radiance Edition is available for all variants starting with Sigma at Rs. 5.49 lakh

    NEW DELHI: Continuing its pursuit to delight young, aspirational buyers, Maruti Suzuki India Limited has announced the launch of Ignis Radiance Edition at an attractive starting price of Rs. 5.49 lakh (ex-showroom). The introduction of the Radiance Edition underscores Maruti Suzuki’s commitment to continuously innovate and cater to the evolving tastes and preferences of the customers.

    The Radiance Edition brings along a host of cosmetic enhancements and amplifies the robust and dynamic persona of Ignis. The bold exterior design, coupled with premium interiors and modern technology, make the Ignis Radiance Edition a standout in its segment.

    ‘The Tough Urban’ Ignis, with its commanding road presence and spacious interior, has been an exciting option for customers since its launch in January 2017. Its imposing front fascia, wide rear appearance, and high seating position are reflective of a unique amalgamation of SUV-inspired design with a compact footprint. With the new Radiance Edition, customers will now have an enhanced driving experience and a distinctive style to ensure they stand out in the urban landscape.

    The brand Ignis is built on a new-gen rigid platform embodying Suzuki Total Effective Control Technology (TECT) for occupant protection. For a generation that aspires to be `different’, Ignis offers a blend of stylish exterior design, state-of-the-art engine technology, and a spacious cabin.

  • NEXA: 9 Years Of Spreading Joy With 2.7 Million Happy Customers In India

    NEXA emerged as the fastest-growing automotive retail channel in FY23-24, registering a 54% growth*

    Delighting 2.7 million customers through 498 NEXA showrooms across 300+ cities

    NEXA products account for over 31% of Maruti Suzuki’s overall sales

    NEW DELHI: Launched in 2015 with the philosophy of catering to seekers of the ‘new’, NEXA completed nine successful years in India. This premium retail channel was conceptualized to offer customers a global automotive retail experience, characterized by innovative technology, unmatched hospitality, and relentless customer-centricity. Spreading the joy of mobility to over 2.7 million customers, NEXA has emerged as one of the fastest-growing car retail brands in the country. In addition to this, NEXA is also a key growth driver for Maruti Suzuki, accounting for 31.88% of the carmaker’s overall passenger vehicle sales. This underscores the pivotal role played by NEXA in the success of Maruti Suzuki.

    Commenting on this occasion, Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, noted, “Driven by the philosophy of ‘Create. Inspire’, NEXA is more than just a retail channel for us. It has excelled in spreading the joy of mobility to more than 2.7 million customers. With 498 retail channels across the country, NEXA has been successful in appealing to customers even in non-urban centers, where we are witnessing a growing demand for premium products. Each model in the NEXA portfolio is meticulously designed to resonate with the dynamic lifestyles and preferences of today’s discerning consumers who seek vehicles that blend advanced features and technology with reliability. The addition of models such as the Grand Vitara, Fronx, Jimny, and Invicto has further enriched our lineup, providing customers with more choices that offer incredible value for money.”

    From its inception, NEXA has been a game-changer in the Indian automotive retail landscape. By consistently pushing the boundaries of innovation and customer service, NEXA has set new benchmarks and redefined the car buying and ownership experience.

    NEXA provides unique and innovative experiences through three pillars – NEXA Music, NEXA Lifestyle, and NEXA Journeys.

    NEXA Music 

    A unique first-of-its-kind platform for music aficionados, NEXA Music is curated to provide aspiring Indian musicians with a platform to compose original music. The participants are mentored by the global music icon A R Rahman, harnessing the potential of upcoming artists with talent and skills. In season 3, NEXA Music has evolved into a platform celebrating the vibrant and diverse indie (independent) music landscape in India.

    NEXA Lifestyle 

    From partnering with India’s biggest fashion event, Lakme Fashion Week, to collaborating with premium properties like IIFA Awards, SIIMA, Supersonic, Lollapalooza, and Streaming Academy Awards; NEXA has built strong brand associations to bring premium and unique experiences to its customers. 

    NEXA Journeys 

    Through NEXA Journeys, stories of travelers across different states with diverse driving experiences have been showcased. NEXA Journeys encourages you to step out, pack your bags, and drive away amidst picturesque views and nature in its true form.