NRIs in UAE: Is opening a grocery store in India a good idea?
ANSWER: Initially, quick commerce platforms started off as a top-up service for last minute purchases of groceries and small ticket items. However, these platforms have emerged as the fastest growing sales channel, even in the space of premium portfolios. In the past, just one-third of shoppers in the metros resorted to online platforms for their daily shopping. At present, 87 per cent of shoppers use the quick commerce platforms as they provide convenience and instant delivery. This is despite the fact that these platforms offer discounts of just 6-9 per cent, whereas supermarkets give more attractive discounts of 13-18 per cent.
According to market analysts, the quick commerce grocery market is likely to grow threefold by 2027 with an estimated turnover of Rs.1.7 trillion. Their reach is likely to extend to all towns with a population of half a million or more. It must also be mentioned that India has 13 million kirana stores which are able to hold their own despite the growth of quick commerce platforms. Leading FMCG companies are going out of their way to improve trade relationships with small retailers by supplying more premium products and offering them higher margins. These large multinational companies have reconfigured their supply chain and distribution infrastructure for promoting general trade and creating value offers with merchandising support.
Question: Cyber attacks are becoming common these days. Is India geared up to meet this threat?
ANSWER: All efforts are being made in India to meet the serious challenges posed by cyber threats. Generative AI is being used to help create stronger and swifter counter measures which will make the internet safer to use. While companies create tools to tackle cyber threats, it is equally important for users of the internet to take effective measures to identify malicious and fraudulent content. Unlike the physical world where people use their instincts to identify something which is dangerous, the online world does not have a parallel.
State-sponsored cyber threats are also increasing as Governments possess capabilities which cannot be matched by private players. The Indian Government is taking all steps to provide cyber security as it has partnered with well-known international companies to build a strong workforce which is well trained and skilled. The recent increase in geopolitical tensions has made the Indian Government take strong and measured steps to counter this threat.
Question: Creation of additional jobs and boosting exports are the two objectives of the Indian Government. Have these objectives been achieved while having a 6.4 per cent growth rate in GDP?
ANSWER: An average growth rate of 6.4 per cent during the past three years has helped small and medium enterprises to effectively boost the industrial sector and push exports to a higher level than was anticipated. This export oriented growth spearheaded by the MSMEs has ensured that Indian industry has entered the global supply chain which has recently been weakened by geopolitical factors. This has been galvanised by the 14 production-linked incentive (PLI) schemes which so far have attracted investments of Rs.1.76 trillion and created more than 1.2 million jobs. The cumulative incentive amount under the PLI scheme disbursed so far stands at Rs.215.34 billion.
The schemes cover large scale electronics manufacturing, IT hardware, medical devices, pharmaceuticals, telecom and networking products, food processing, speciality steel, automobiles and auto components, drones and drone components. The PLI scheme for food products has generated sales of Rs.3.8 trillion. Companies which are involved in food processing have given a boost to raw material procurement, benefiting under-developed and rural areas, while supporting farmers' income. Therefore, while the GDP growth rate has been sustained at an impressive rate of 6.4 per cent, the main benefit to the Indian economy has been in terms of higher growth in exports and creation of new jobs.
The writer is is a practising lawyer, specializing in corporate and fiscal laws of India.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
4 hours ago
- Al Etihad
European Commission welcomes adoption of EU mandate to launch negotiations with GCC countries
19 July 2025 00:56 BRUSSELS (WAM)The European Commission and the High Representative welcomed the European Council's decision authorising them to enter into negotiations with each of the six Gulf Cooperation Council (GCC) countries - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates - ith the aim of concluding bilateral Strategic Partnership Agreements (SPAs).The aim of the SPAs is to provide for an ambitious, modern, comprehensive and effective framework for bilateral cooperation tailored to the shared priorities and objectives of the EU and each respective GCC is in line with the efforts to enhance our relations with GCC partners set out in the 2022 Joint Communication on a Strategic Partnership with the Gulf and the October 2024 EU–GCC Summit in negotiation frameworks cover a wide range of topics, including foreign and security policy, justice and law enforcement, trade and investment, energy and climate, digital transformation, environment, connectivity, education, research and innovation, culture, and enhanced people-to-people SPAs will mark a turning point in the relations with Gulf partners, being truly strategic partnerships, addressing common challenges and harnessing joint opportunities across the rapidly evolving Middle East will start as soon as possible. The order and pace of negotiations will follow the expression of interest from the side of the partners.''There is huge untapped potential in the EU's relationship with the Gulf region. As of today, we will negotiate bilateral Strategic Partnership Agreements with the six Gulf partners. These should bring many mutual benefits across a wide range of priority areas, from increasing economic diversification to jointly tackling security challenges, and working together on digitalisation and connectivity. "We are beginning a new era of enhanced EU-Gulf cooperation," said Kaja Kallas, High Representative for Foreign Affairs and Security Policy/Vice-President of the European to Maroš Šefčovič, Commissioner for Trade and Economic Security; Interinstitutional Relations and Transparency, the Strategic Partnership Agreements with the GCC countries will provide a major boost to our trade and investment relations, creating new opportunities for businesses, enhancing market access, and promoting economic growth. We can unlock the full potential of our economic partnership and strengthen our position as a global trading Šuica, Commissioner for the Mediterranean said: ''Our partnership with the GCC partners is built on mutual respect and shared objectives. Through the Strategic Partnership Agreements, we aim to take our cooperation to the next level. We are deepening and widening our bilateral relations in a wide array of areas putting always people at the center. "These partnerships will also allow for strengthening our cooperation at regional level to build peace and promote stability and prosperity in the broader Middle East.''
The National
7 hours ago
- The National
Money & Me: ‘I quit a lucrative job in the merchant navy to chase my passion in sales'
Hailing from a seafaring family, Heston Saldanha joined the merchant navy in India, but found that life on the seas was not his true calling. He quit his job in 1999 and decided to pursue his passion in sales instead. 'My entire family works in the merchant navy. Coming from that industry and deciding to take up a job on land was quite challenging in terms of going against the conventional way of thinking,' he says. 'Always follow your passion. I was fortunate to pursue what I liked doing, which is meeting people and talking. Whatever I've achieved today is purely because of my own conviction and following my passion.' Mr Saldanha, who is from the Indian city of Mumbai, initially took up a corporate sales post with Hutchison Max. He moved to Dubai in 2000 working with business conglomerate Al Futtaim. 'I decided to work in Dubai for a year to make money, but there's been no looking back since,' says the 51-year-old, who is now general manager of Sonova Consumer Hearing Middle East. He worked for Al Futtaim for 10 years and then joined audio equipment manufacturer Sennheiser to set up their consumer division in 2011. After 12 years with Sennheiser, at the end of 2021, he set up the consumer business for Sonova. Mr Saldanha's academic credentials include a postgraduate diploma in management with a focus on marketing from the Narsee Monjee Institute of Management Studies and a bachelor of arts degree in psychology from St Xavier's College, Mumbai. He lives with his wife and daughter in Muraqqabat, Deira, and their two sons are studying in the US and UK. Did wealth feature in your childhood? What did you learn from it? I come from a seafaring family, so money was available and our house always had foreign goods. But one of the things that struck me at a very young age was my father's sacrifices, such as sailing for six to nine months at a stretch. This helped me learn the value of money. What was your first job and how much did it pay? When I was in college in Mumbai, my parents were quite conservative when it came to money. But I needed money to party and spend, so I took up a job with a company to sell marker pens at Nariman Point (the city's business district) and they paid good commission. I earned around 25 Indian rupees ($0.29) for every packet I sold. That was the first time I learnt to sell in a non-educated way. When you enjoy what you're doing, it brings the best out of you. Any early financial jolts? Yes, when I left the merchant navy, everyone asked me why, because it was a lucrative job. As a cadet then, I used to earn around 30,000 rupees. My mother asked me what I planned to do next and how I would take care of my life and my family in the future. It was a jolt knowing that my decision would have a financial implication, of not knowing what I'm going to do next. It was quite an awakening. How do you grow your wealth? I come from an old-school outlook on investing. I started investing in property, land and fixed deposits in India and then slowly moved to mutual funds. Are you a spender or a saver? I'm more of a wise spender and a good saver. If you spend wisely, you can save. I primarily spend on my kids. I have given them the best education and then let them take it forward. I would call it a good investment since I haven't taken any loans to educate my kids. Have you been wise with money? Yes, seeing my dad work in the merchant navy taught me to value money. I was never a materialistic person. For me, it's not about driving the best car or doing things to impress others. I'd probably like to impress myself and be appreciated by my family. What has been your best investment? Properties and land in Mumbai and Goa, since they have nearly tripled in value since purchase. Any cherished purchases? The calling of the sea is always present in my life. While I was on a holiday in Cyprus with my family, one of the things that caught my attention was a sea-facing apartment. One of the properties I bought in Goa is beautiful and offers a full sea view. That's a cherished purchase because it's a holiday home I can always visit with a friend or family to relax. How do you feel about money? As long as you have control over money, there's nothing that can go wrong. You have to learn to control money and not vice versa. I tell my kids not to look at what they can earn but how they can value that money instead. Any financial advice for your younger self? I should have adopted a more millennial way of investing, such as in stocks, probably six or seven years ago. But I have no regrets. Any key financial milestones? Having both my kids study abroad are bigger financial milestones to me than driving the best car. I can see the fruits of my labour put into their education without the help of any loans. These hold a higher value in life to me. What are your financial goals? To retire early and live off some of my investments.
The National
8 hours ago
- The National
EU sets talks with GCC states on strategic partnerships
The EU on Friday said that it had received the mandate to launch negotiations with the Gulf Co-operation Council's six countries on concluding bilateral strategic partnership agreements. Negotiations will start 'as soon as possible,' the EU Commission, the bloc's legislative arm, said. The complementary agreement negotiations are expected to go ahead with UAE, Bahrain, Kuwait, Oman, Qatar and Saudi Arabia. 'There is huge untapped potential in the EU's relationship with the Gulf region. As of today, we will negotiate bilateral Strategic Partnership Agreements with the six Gulf partners,' the EU's foreign affairs chief, Kaja Kallas, said on Friday. The aim of the strategic partnership agreements 'is to provide for an ambitious, modern, comprehensive and effective framework for bilateral co-operation tailored to the shared priorities and objectives of the EU and each respective GCC partner,' the press statement read. Commissioner for trade and economic security Maros Sefcovic said that the agreements would provide a 'major boost' to trade and investment relations. The negotiations framework includes a wide range of topics, including foreign and security policy, justice and law enforcement, and trade and investment. The EU has also struck strategic partnership agreements with allies including Canada in 2016 and Japan in 2019. Strategic partnership agreements with GCC countries 'will also allow for strengthening our co-operation at regional level to build peace and promote stability and prosperity in the broader Middle East,' said Commissioner for the Mediterranean, Dubravka Suica. The talks will complement existing EU – Gulf co-operation frameworks, including continuing regional and bilateral negotiations on free trade agreements. The EU and GCC have sought in recent years to revive talks on a free-trade agreement that stalled in 2008. In 2023, the EU was the GCC's second largest import partner, at €93.8 billion ($102 billion), and fourth-largest export partner, at €76.3 billion. In April, the UAE and the EU separately agreed to begin talks on a potential free trade deal.
