Tag: report

  • India’s real estate sector to cross $4.8 trillion by 2047: Report

    India's real estate sector to cross $4.8 trillion by 2047: Report

    IANS

    The Indian real estate sector is set to cross $4.8 trillion in market size by 2047, contributing over 18 per cent to the projected $26 trillion GDP target for the year, according to a joint report by real estate body CREDAI and Ernst & Young released on Tuesday.

    The report expects PropTech to grow at a sustained rate to touch $600 billion in market size by 2047, comprising approximately 12-13 per cent of the entire real estate industry. The study backs the ongoing and projected technological revolution in real estate, given that currently, PropTech makes up less than 5 per cent of the $300 billion real estate sector.

    The report highlights how innovations like Artificial Intelligence (AI), the Internet of Things (IoT), and Building Information Modelling (BIM) are revolutionising operations, enhancing efficiency, and ensuring transparency across the real estate value chain. This transformation supports India’s projected $26 trillion GDP by 2047, with the real estate sector projected to contribute over 18 per cent, up from its current 7 per cent share of the GDP.

    Employing over 77 million people – approximately 14-15 per cent of India’s entire workforce – India’s real estate sector has consistently been a key economic pillar and is set to grow in prominence over the next decade, the report states.

    India's real estate sector to cross $4.8 trillion by 2047: Report

    IANS

    Macro-level Infrastructure initiatives, including the National Infrastructure Pipeline (NIP) and PM Gati Shakti, are closely linked to this growth. The NIP aims for targeted investments of $1.4 trillion over the next decade in transport, energy, communication and social infrastructure. These projects, spanning roads, railways, airports, and ports, are unlocking opportunities in adjacent real estate markets, according to the report.

    Tier II & III cities such as Indore, Surat, Jaipur, Chandigarh, Salem, Bhopal, Visakhapatnam, and Agra amongst others are emerging as the new real estate investment hubs and are expected to grow fuelled by various factors, initiatives and demand. Additionally, India’s young population and expanding middle class, projected to surpass one billion by 2047, are set to propel discretionary spending, housing demand, and real estate investments, the report adds.

    The CREDAI (The Confederation of Real Estate Developers’ Associations of India) also seeks various incentives from the government.

    These include the grant of Industry status to the real estate sector in order to facilitate easier access to institutional financing and lower borrowing costs for developers, and redefining affordable housing by increasing the threshold sale value to Rs 90 lakh from Rs 45 lakh at present.

    The report also states that ensuring the availability of land through effective zoning and streamlined land acquisition policies is critical for sustainable urbanization. CREDAI advocates for the development of planned satellite towns near major urban agglomerations, which would decongest metros and foster balanced regional development.

    Besides, the report is of the view that developers should be offered the option to choose a GST scheme at the beginning for each project, both residential and commercial, to avail of the input tax credit.

    (With inputs from IANS)

  • School Closure Report! All colleges will remain closed for two days in 5 districts of this state, internet will also be banned, know the reason

    The Manipur government has ordered the closure of all educational institutions in five districts of the valley on Monday and Tuesday as well. Earlier on Sunday, the government had announced the start of classes in these districts from Monday, but later changed its order.

    Director of Education (Schools) L. Nandkumar Singh and Joint Secretary in the Higher and Technical Education Department Dariyal Julie Anal in separate orders have asked all district and regional level officials to take appropriate steps to close all government, private and government-aided educational institutions on Monday and Tuesday.

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    All colleges will remain closed from monday

    Earlier on Sunday, L. Nandakumar Singh and Dariyal Julie Anal in separate orders had asked for resumption of classes in all government, private, government-aided educational institutions, including colleges and universities, from Monday. Regular classes in all educational institutions, including schools and universities, remained closed for over a week in five districts of the Valley since November 16 due to escalating violence and mob attacks.

    Educational institutions will remain closed in these five districts

    “The education department in consultation with the home department has decided to close general classes in all educational institutions on November 25 and 26,” an official said. He said all government and government-aided educational institutions, including state universities, in the five districts of the valley — Imphal West, Imphal East, Thoubal, Bishnupur and Kakching — were closed till November 23 keeping in view the safety of students, teachers and non-teaching staff.

    Curfew was relaxed in the past few days

    With no major violent incident reported from any of the five districts, the curfew was relaxed for several hours during the day during the past few days to facilitate people to buy essential commodities and carry out other necessary work, officials said. Meanwhile, the Manipur Home Department has extended the suspension of mobile internet and data services in seven districts till Monday evening as a precautionary measure.

    Internet is closed in these seven districts

    Home department officials said though no incident has been reported from any of the seven districts, the suspension of mobile internet and data services has been extended till November 25 as a precautionary measure. These seven districts are Imphal West, Imphal East, Bishnupur, Thoubal, Kakching, Kangpokpi and Churachandpur.

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  • Godrej Jersey’s Milk Report Reveals 62% of Pune Parents Prioritize Milk for Their Children’s Calcium Needs


    Godrej Jersey’s Milk Report

    Pan India, 60% of parents prefer the same

    PUNE: Godrej Jersey recently surveyed Indian parents to understand their rationale for giving milk to their children. While some highlighted the need to remain fit and weight management in addition to gaining some energy and as a meal replacement, 62%of Pune-based parents and 60% of parents across the country said that they give milk to their kids to maintain intake of calcium.

    Titled ‘Bottoms Up…India Says Cheers to Milk!’ the comprehensive study covering consumer responses from Delhi, Lucknow, Mumbai, Pune, Hyderabad, Chennai, Bangalore, and Kolkata, provides valuable insights into evolving consumer preferences and industry trends. Beyond understanding the parents’ rationale for giving milk to their children, the survey also tried to understand which milk-based products they prefer for their kids.

    Commenting on the findings, Bhupendra Suri, CEO, of Godrej Jersey said, “Multiple research studies globally and in India have proven the nutritional value of milk which is good for children. Consisting of high nutritional quality protein, calcium, phosphorus, and vitamin A, it is widely an imperative for growing children. Amidst this, it is encouraging to see from our consumer survey why parents prefer to give milk to their kids.”

    Another interesting insight that came from the report was that 90% of Indian kids drink milk more than 4-5 times a week and more than 40% of parents were open to considering flavored milk as a school meal, or for consumption during the day, or more specifically during playtime!

    The survey was designed and conducted by YouGov. Creamline Dairy Products Limited, a subsidiary of Godrej Agrovet Limited (GAVL), a diversified food and agri-business conglomerate of Godrej Group sells the products under the brand name Godrej Jersey.

  • Speculative and inaccurate: Canada denies media report that claimed PM Modi knew of Nijjar’s killing

    The Canadian government on Friday rejected a media report that linked Indian PM Narendra Modi and his top officials to criminal activities in the country.

    PM Justin Trudeau-led government described the report as 'both speculative and inaccurate'.
    Canada denies media report that claimed PM Narendra Modi knew of Nijjar’s killing. Photo Courtesy: PIB

    PM Justin Trudeau-led government described the report as ‘both speculative and inaccurate’.

    The Canadian government issued the statement after Globe and Mail claimed in its report that the country’s security agencies believe Modi knew about the killing of a Sikh separatist leader (Hardeep Singh Nijjar) in British Columbia and other violent plots.

    In a statement issued on Friday, national security and intelligence advisor to the Canadian prime minister Nathalie G Drouin said, “On October 14th, because of a significant and ongoing threat to public safety, the RCMP and officials took the extraordinary step of making public accusations of serious criminal activity in Canada perpetrated by agents of the Government of India.”

    “The Government of Canada has not stated, nor is it aware of evidence, linking Prime Minister Modi, Minister Jaishankar, or NSA Doval to the serious criminal activity within Canada,” the statement said.

    Quoting a senior national-security official, Globe and Mail reported that  Canadian and American intelligence tied the assassination operations to Home Affairs Minister Amit Shah.

    Also in the loop, the official told the newspaper, was Modi’s trusted national-security adviser Ajit Doval and External Affairs Minister Subrahmanyam Jaishankar.

    While Canada does not have direct evidence that Modi knew, the official told the newspaper that the assessment is that it would be unthinkable that three senior political figures in India would not have discussed the targeted killings with Modi before proceeding.

    India responds sharply

    Ministry of External Affairs spokesperson Randhir Jaiswal on Wednesday called the newspaper report a ‘smear campaign’.

    “Such ludicrous statements made to a newspaper purportedly by a Canadian government source should be dismissed with the contempt they deserve,” Jaiswal said in a statement.

    “Smear campaigns like this only further damage our already strained ties,” he said.

    India-Canada standoff over Khalistani row

    A recent standoff between New Delhi and Ottawa was triggered after Canada Prime Minister Justin Trudeau accused Indian officials of being involved in the killing of Nijjar.

    India had expelled six Canadian diplomats and asked them to leave the country last month after Ottawa said it was investigating the Indian ambassador and other diplomats as “persons of interest” in connection with the killing of a Sikh separatist leader last year.

    Canada too asked six Indian diplomats to leave the country alleging that its police reportedly got hold of evidence that they claimed to be a part of an Indian government “campaign of violence”.

    The Indian government had also decided to withdraw its High Commissioner in Canada after Ottawa’s accusations which the Modi government called an act of “vote bank politics”.

    However later in a statement which leaves India vindicated, Trudeau had said he had no “hard evidentiary proof” to back his claims that India government officials were involved in Nijjar’s killing.

  • 38percent of Students from the Middle East, Vikalp India Report Finds

     Vikalp India Report

    Delhi, 22nd November 2024 : Vikalp India, a leader in the online education space, recently released a comprehensive report highlighting a significant trend in its online school’s student demographic. According to the report, an impressive 38% of the total student body at Vikalp Online School hails from Middle Eastern countries, showcasing the institution’s growing popularity and influence in the region.

    The report, compiled across the school’s entire student base, revealed that out of a total of 5,065 students, 1,909 are from six major Middle Eastern nations, namely Saudi Arabia, the United Arab Emirates, Oman, Kuwait, Qatar, and Bahrain. This distribution underscores the institution’s success in tapping into a diverse, international student population seeking quality online education.

    Country-wise Breakdown of Middle Eastern Students:

    • Saudi Arabia: 535 students
    • United Arab Emirates: 534 students
    • Oman: 356 students
    • Kuwait: 243 students
    • Qatar: 146 students
    • Bahrain: 95 students

    This rising number of enrollments from the Middle East is a testament to Vikalp’s effective pedagogy, global curriculum, and student-centric digital infrastructure, enabling students from around the world to access high-quality education without geographical barriers.

    Dinesh Gupta, Founder & CEO of Vikalp India, said “The growth in our Middle Eastern student base reaffirms the demand for flexible and accessible online education in the region. Our platform is designed to support diverse learning needs, empowering students from various backgrounds to achieve academic excellence.”

    Vikalp Online School continues to set itself apart with its emphasis on personalized learning pathways, experiential learning models, and technology-driven content delivery, making it a preferred choice for students and parents worldwide.

    With online education becoming increasingly prevalent, Vikalp India’s report demonstrates the platform’s expanding global reach and the promising future of virtual schooling as an alternative to traditional education models. The high proportion of Middle Eastern students is expected to further drive the school’s expansion and adaptation of courses tailored to regional and international educational standards.

  • AI boom likely to trigger $3.8 bn flow into India’s data centre industry: Report

    AI

    AI boom likely to trigger $3.8 bn flow into India’s data centre industry: ReportIANS

    India’s Data Centre Industry is poised to surge 66 per cent by 2026, driven primarily by artificial intelligence (AI) and the nationwide rollout of 5G technology, according to real estate advisory firm JLL India.

    The country’s Data Centre industry is expected to add a staggering 604 MW capacity, requiring 7.3 million square feet and USD 3.8 billion in the next two and a half years (H2 2024-2026), the JLL report states.

    It highlights that India is rapidly establishing itself as a global centre for AI innovation and data centre growth. Hyperscalers are increasingly pursuing self-build projects in major data centre hubs, while operators are planning new campuses powered by 400 kVA lines to support AI clusters.

    The growth is expected to be fuelled further by significant government initiatives, including the approval of a USD 1.24 billion investment in AI infrastructure. Additionally, 5G network coverage is estimated to have reached over 90 per cent of India’s population by the end of 2023.

    In the first half of 2024 (January to June), the Data Centre industry already reached a capacity of 917 MW with an impressive 873 MW occupancy, indicating extremely tight market conditions. Over the past four and half years (2019-H1 2024), the sector has expanded 2.5 times, growing at a remarkable 24 per cent CAGR (compound annual growth rate).

    “Navi Mumbai, a satellite city near Mumbai, is emerging as a key data centre location, with potential demand expected to reach 800 MW in the next few years. The push for AI-ready infrastructure, combined with the transformative influence of 5G, is revolutionizing India’s digital ecosystem and positioning the country as a leader in technological advancements,” said Rachit Mohan, APAC lead – Data Centre Leasing, JLL.

    Artificial intelligence and machine learning

    India is rapidly establishing itself as a global centre for AI innovation and data centre growthScott Graham from Unsplash

    Samantak Das, chief economist at JLL India, said, “Mumbai is expected to maintain its market leadership, while we anticipate significant growth in Chennai and other regions. This expansion is not only driving demand for specialized skills but also creating opportunities across backward-linked industries. “

    As India positions itself at the forefront of technological advancement, the data centre industry’s growth is set to have far-reaching implications for the country’s digital infrastructure and economy. The industry’s expansion is not only creating new job opportunities but also driving innovation across various sectors, solidifying India’s position as a global tech powerhouse, the report added.

    (With inputs from IANS)

  • Children could face eight-times more heatwaves in 2050 than in 2000, warns UNICEF report

    UNICEF releases new report alerting about tough impact of heatwave on children in 2050
    UNICEF issues new alert on heatwave and its impact on children in its latest report. Photo Courtesy: Unsplash

    UNICEF has warned in its latest report that children could face eight times more heatwaves in 2050 than what was faced in 2000.

    The future of childhood hangs in the balance if urgent action is not taken to safeguard children’s rights in a changing world, UNICEF warned in its flagship report released on World Children’s Day today.

    The State of the World’s Children 2024: The Future of Childhood in a Changing World, projects how three major global forces – or megatrends – will impact children’s lives by 2050 and beyond. 

    The megatrends – demographic change, climate and environmental crises, and breakthrough technologies – provide key indications of the challenges and opportunities children may face in the future.

    “Children are experiencing a myriad of crises, from climate shocks to online dangers, and these are set to intensify in the years to come,” said UNICEF Executive Director Catherine Russell. 

    “The projections in this report demonstrate that the decisions world leaders make today – or fail to make – define the world children will inherit. Creating a better future in 2050 requires more than just imagination, it requires action. Decades of progress, particularly for girls, are under threat,” Russell said.

    The climate crisis is already dire, with 2023 being the hottest year on record. 

    According to the report, in the decade of 2050-2059, climate and environmental crises are expected to become even more widespread, with eight times as many children exposed to extreme heatwaves, three times as many exposed to extreme river floods, and nearly twice as many exposed to extreme wildfires, compared to the 2000s.

    How these climate hazards impact children will be determined by their age, health, socioeconomic setting, and access to resources. 

    For example, a child with access to climate-resilient shelter, cooling infrastructure, health care, education, and clean water has a greater chance of surviving climatic shocks compared to a child without access. 

    The report underscores the urgent need for targeted environmental action to protect all children and mitigate the risks they face.

    Sub-Saharan Africa and South Asia are projected to have the largest child populations in the 2050s. 

    They also indicate an aging population, with the share of children expected to decrease in every region of the world. While still high, the child population drops below 40 per cent in Africa – down from 50 percent in the 2000s.

    It falls below 17 percent in East Asia and Western Europe – where children made up 29 percent and 20 percent of the populations, respectively, in the 2000s.

    These demographic shifts create challenges, with some countries under pressure to expand services for large child populations, while others balance the needs of a growing elderly population.

    Meanwhile, the report acknowledges that frontier technologies – like Artificial Intelligence (AI) – offer both promise and peril for children, who are already interacting with AI embedded in apps, toys, virtual assistants, games, and learning software. 

    But the digital divide remains stark. 

    In 2024, over 95 percent of people in high-income countries are connected to the internet, compared to nearly 26 percent in low-income countries.

    The report notes that a large percentage of youth in low-and middle-income countries have difficulty accessing digital skills, and this will impact their ability to effectively and responsibly use digital tools in education and future workplaces. 

    These barriers are often linked to socio-economic settings, gender, linguistics, and accessibility.

    The report contains some good news. Life expectancy at birth is projected to increase. 

    Gains in children’s access to education over the last 100 years are also projected to continue, with nearly 96 percent of children globally expected to have at least a primary education in the 2050s, up from 80 percent in the 2000s. 

    Likewise, with increased investment in education and public health, and more stringent environmental protection, the report states that outcomes for children could improve significantly. 

    For example, the gender gap in educational attainment would narrow, and exposure to environmental hazards would be reduced.  

  • Swiggy losing lead in market: MOFSL Report; Assigns ‘Neutral’ rating

    Swiggy

    IANS

    Despite being an innovator and a category inventor across both food delivery and quick commerce, Swiggy has let its leadership slip away, Motilal Oswal Financial Services Ltd (MOFSL) said on Tuesday, as it initiated coverage with a ‘Neutral’ rating on the stock.

    In a note, the leading brokerage wrote that tight execution and better leveraging its platform can fix these issues.

    Key downside risks for Swiggy are “inefficient management or being unable to scale dark stores as planned may impact quick commerce profitability and high user retention and acquisition costs”.

    Further risks cited by MOFSL are Swiggy’s limited ability to expand margins in food delivery and quick commerce businesses, which could delay valuation re-rating, and intense competition in food delivery, quick commerce, and out-of-home sectors, which challenges its market position.

    Swiggy

    IANS

    Swiggy’s, through its innovation DNA, has played a pivotal role in both food delivery and quick commerce, effectively inventing these categories and leading the way, according to the brokerage.

    “That said, it has let its lead slip in food delivery and is currently behind its key rival Blinkit in quick commerce on both gross order value (GOV) growth and profitability. While the quick commerce race is just getting started, Swiggy’s re-rating depends on accelerating GOV growth, increasing average order values (AOVs), and improving execution in the quick commerce business,” the note further stated.

    On Swiggy versus Zomato, MOFSL said that a cursory glance through the numbers indicates Zomato now has market leadership across food delivery and quick commerce, the two key battleground areas for the players.

    “The war for the wallet share of the urban affluent consumer has just begun, and it is too early to call off the game. Zomato has continued to gain market share in food delivery, but based on GOV/MTU, Swiggy’s cohorts appear more mature and stickier,” said the brokerage.

    In quick commerce, despite Swiggy’s Instamart inventing the category, Blinkit has taken an early lead, and Zepto continues to execute well.

    “The market is nascent; however, enough avenues exist to differentiate on stock keeping units (SKUs) and strategy, making it too early to declare winners (or losers),” it added.

    Swiggy’s share has slipped to its IPO level after a good public debut in a bearish market, due to profit booking on higher level.

    Swiggy’s shares were listed in the stock market at a price of Rs 420 with a premium of 7.69 per cent. On Tuesday, the stock was trading at around Rs 422 apiece.

    The company has shown impressive growth potential, yet persistent losses over recent fiscal years signal challenges ahead.

    (With inputs from IANS)

  • Adani Airport Holdings likely to list in next 2-3 years: Report

    Adani Enterprises to launch maiden Rs 800 crore retail bond issue on September 4

    Adani Airport Holdings likely to list in next 2-3 years: ReportIANS

     The initial public offering (IPO) of Adani Airport Holdings Limited (AAHL), the airport unit of the diversified Adani Group, is likely to go for its public debut in the next two to three years.

    Jeet Adani, Director of Adani Airport Holdings Ltd, said in a media report that he wants to focus on three things before bringing the company’s IPO.

    First is the commercialisation and stabilisation of Navi Mumbai, which will start next year.

    Second is city-side development around the airport which will be started in 2028-29 and third is non-aeronautical revenue growth. “Since we started the business, it has tripled and is going to be a major source of income in the future,” he was quoted as saying in the report.

    Jeet Adani further said that once these three things happen, AAHL’s EBITDA, which is currently around $300 million, will increase to $1 to $1.5 billion.

    Adani Airport Holdings expands lounge access with major debit, credit cards amid Dreamfolks disruption

    Adani Airport Holdings expands lounge access with major debit, credit cards amid Dreamfolks disruptionIANS

    “When EBITDA will be at $1 billion, then we will be able to get our business listed. It will take at least 2 to 3 years to reach this level,” said Jeet Adani.

    He further added that consolidation among airlines in India brings both positive and negative impacts for airports.

    The positive side is that having strong airline companies like Air India, now backed by the Tata Group, ensures that India has a strong presence on both short-haul and long-haul routes. The negative impact of airline consolidation from the airports’ point of view is that it will increase concentration risk.

    Meanwhile, the record-breaking, half-year performance of Adani Enterprises Ltd (AEL) this fiscal has been led by Adani New Industries Ltd (ANIL) and Adani Airport Holdings Ltd (AAHL) with their rapid growth in capacity additions and asset utilisation.

    For the first six months of this fiscal (H1 FY25), Adani Enterprises Ltd posted 2.5 times net profit growth at Rs 3,196 crore, from Rs 902 crore last fiscal. The company’s revenue increased by 14 per cent to Rs 49,263 crore in H1 FY25.

    (With inputs from IANS)

  • Credit, deposit growth now in line with each other in India: Report

    Bank

    Credit, deposit growth now in line with each other in India: ReportIANS

    After deposit growth outpaced credit offtake for the first time in the last 30 months some days back, the credit and deposits are now growing in line with each other, according to a report on Tuesday.

    Credit offtake increased by 9.3 per cent to reach Rs 174.4 lakh crore (as of November 1) compared to December.

    The growth slowdown compared to last year can be attributed to a higher base effect due to the merger and RBI measures such as higher risk weights and the proposed LCR norms, according to a CareEdge Ratings report.

    Deposits rose at 9.8 per cent to stand at Rs 220.4 lakh crore as of November 1. This growth can be attributed to rising term deposit rates of scheduled commercial banks (SCBs).

    The short-term Weighted Average Call Rate (WACR) has decreased to 6.50 per cent as of November 1, compared to 6.77 per cent as of November 10, 2023, indicative of surplus liquidity.

    In absolute terms, over the last 10 months, credit offtake expanded by Rs 14.6 lakh crore, reaching Rs 174.4 lakh crore as of November 1.

    demonetisation, rbi, remonetisation, notes returned, bank deposits, modi

    CD ratio has been hovering around 80 per cent since September 2023Reuters file

    Meanwhile, in absolute terms, deposits have expanded by Rs 20.6 lakh crore over the last 10 months.

    “Deposits have remained prominent in FY25 as banks have intensified efforts to strengthen their liability franchise and have offered higher term deposit rates. Additionally, banks are sourcing funds via the certificates of deposits at a relatively higher cost,” the report mentioned.

    “The CD ratio has been hovering around 80 per cent since September 2023. The CD ratio witnessed a marginal sequential uptick reaching 79.1 per cent for the fortnight ending November 1, 2024,” the report mentioned.

    On year-on-year performance, credit saw a growth of 11.8 per cent, slower than the last year’s rate of 20.4 per cent. Meanwhile, deposits saw a growth of 11.9 per cent, compared to 13.5 per cent last year.

    (With inputs from IANS)