Shriram Finance CEO YS Chakravarti discusses the company’s growth and outlook for the second half of the year. He expects the company to beat its 19% growth figure and achieve around 20% growth.
Tata Group-owned Air India Express unveils a dynamic new brand identity dominated by shades of orange and turquoise. The airline’s visual identity symbolizes enthusiasm, agility, style, and a digital-first approach. The new branding extends to the aircraft livery, drawing inspiration from traditional Indian textile designs. The rebranding signifies the airline’s ambitious growth and transformation journey.
The FMCG industry expects a subdued low to mid-single-digit volume growth in the July-September quarter as weak macroeconomic conditions amid rising food prices and below-normal rainfall in some regions are impeding the recovery in rural demand.
Private equity investor KKR is opening a new operations back-office in Gurugram, India, highlighting the country’s growing importance in KKR’s global ecosystem. The office will serve as the firm’s largest operations center outside of the US and will provide support in areas such as finance, operations, human capital, and technology. KKR plans to employ approximately 150 employees in Gurugram by early 2024.
Apple plans to increase production in India and expects to reach around $40 billion in the next four-five years. The company has already crossed the $7-billion production mark in the last financial year. Apple currently manufactures iPhones in India and plans to start manufacturing Airpods in the near future. The company has also become the largest exporter of mobile phones from India. Apple’s decision to scale up production in India shows its commitment to the Indian market.
Chique, a women’s apparel brand, plans to expand its reach into smaller cities in India by opening over 150 stores in the next three years. The company aims to tap into the rising demand from tier-2 and tier-3 cities and is collaborating with multi-brand outlets to fuel its projected 50% YoY growth. Chique’s founder, Siddhanth Gupta, believes that customers in these cities are displaying a growing fashion consciousness and an affinity for their products.
Advertising giant WPP has announced plans to double its business revenue in India over the next five years and hire 7,000 to 8,000 new employees. India is currently WPP’s fastest-growing and fifth-largest market, contributing 4-5% of its global business. CEO Mark Read expressed optimism about India’s future growth, citing the expanding economy, rapid digitization, and the projected growth of the Indian advertising market. Read also emphasized the importance of artificial intelligence in the advertising sector.
Motilal Oswal Financial Services (MOFSL) has acquired a commercial tower in Ahmedabad as part of its growth and expansion plans. The tower, spread over 1,10,000 sq ft, will serve as the company’s corporate office and accommodate 650 employees. MOFSL aims to complete the project by September 2024.
Marriott International is set to achieve over $1 billion in revenue in India this year, with a 56% increase in revenue per available room compared to 2022. President Rajeev Menon believes India’s strong domestic market and rebound in international travel have contributed to the company’s success. With plans to add 50 more hotels in India by the end of next year, Marriott sees the country as a decades-long growth story.
Hero MotoCorp aims for sustainable growth and market share enhancement through new product launches and expanding production capacity. With margins back to pre-Covid levels, the company plans to introduce its electric vehicle range in 100 cities by year-end.
