Apple App Store ecosystem thriving in India, facilitated Rs 44,447 crore in billings and sales in 2024
The IIM-A professor's study has shown that the total App Store earnings of small Indian developers increased by 74 per cent between 2021 and 2024.
Rohit KVN
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Time of India
21 minutes ago
- Time of India
India poised to benefit from FTAs, says RAI CEO Kumar Rajagopalan
SINGAPORE: India has emerged as a 'great place' to use the advantages accruing from Free Trade Agreements (FTAs), a senior retail industry official said as he highlighted the success of Make in India programme. 'We are among the most attractive markets, with a growing young population that makes us one of the world's largest consumer markets with insatiable demand for the best in the world,' said Retailers Association of India (RAI) CEO Kumar Rajagopalan at an event here. FTAs will also give Indians access to items that get manufactured abroad at a more convenient pricing, he added. But he was also quick to dismiss notions of dumping cheap inferior goods into the Indian market, pointing out that the country has created laws that can protect against such trade-damaging practices, and that can be challenged at the World Trade Organisation. According to Kumar, a trade veteran of 40 decades, a full-fledged quality control checking system is in place to ensure Indian consumers are getting the best products as imports of edibles is set to increase following the signing of more and more FTAs by the Indian government in an endeavour to reach out the global markets . Live Events India has always imported consumer products from around the world but in recent years with the economic prosperity momentum picking up, the country has become 'more and more attractive as a consumer-driven market', given the young population with rising income seeking the best quality, cost-effective, long-lasting and appealing products, Kumar pointed out. FTAs are increasing India's bilateral trade globally, covering value-added high-end and heavy-duty industrial products to edibles such as soybeans, cheeses, vines and beverages. RAI leads about 2,500 members, mostly retailers at national level, with an annual business volume of about USD 900 billion, that is set to grow at 10 per cent annually. Speaking to PTI after participating in the National Retailers Federation's 2025 for Asia Pacific held in Singapore during June 3-6, Kumar pointed out that the Make in India programme is producing world-class high-standard products both for the domestic market as well as export, 'thanks to the FTAs opening more export opportunities'. Kumar also sees competition from world-class products for Make in India. "Imports and exports will create a competitive landscape and we will see further upgrades in manufacturing processes within India to make globally-rated products be it hardware, software and or edibles.' India, he said, produces agri and non-agri products for consumers as well as industrial plants for the world. He said that 85 per cent of the 7,00,000 stores in India are still operating in traditional formats, ranging from the corner shop Kiraana to single store supplying everything in the range of garments and edibles, competing with mega modern-day fast-pace trading department stores, online and offline supply chain operators. Fast and quick-commerce have reduced delivery time to 10 minutes while e-commerce and online payments have made retailing business easier and prompt, he observed. A latest example of India made products from design to garment production is Mumbai-headquartered 'Fynd', an artificial intelligence-driven commerce platform that is serving the Indian market as well as the Middle East and Africa markets. NRF 2025 had 9,500 trade visitors from over 72 countries, alongside participation from 240 exhibitors and sponsors, and 150 conference speakers.
Time of India
26 minutes ago
- Time of India
India bond yields extend rise as market digests RBI stance shift
Indian government bond yields rose in early trade on Monday as investors weighed the central bank's surprise shift last week to a neutral policy stance, following a larger-than-expected rate cut . The benchmark 10-year yield was at 6.2591% as of 10:00 a.m. IST, up from Friday's close of 6.2373%, while the five-year 6.75% 2029 bond was at 5.8344%, compared with 5.8150% previously. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo "For the day, we expect some caution to prevail, but if the upside is capped, then we can see some recovery in the coming days," a trader at a private bank said. Bonds Corner Powered By Bond yields up despite higher rate cut Bond Street witnessed a volatile trading day. The 10-year benchmark security yields increased. This happened despite the Reserve Bank of India's repo rate cut. The change in the central bank's policy stance impacted the yields. Experts predict the 10-year yield to stabilize. Some anticipate further rate cuts later in the year. The five-year bond yield experienced a slight decrease. RBI's 50 bps rate cut sparks short-term bond rally, long-term yields stay subdued. What's ahead? RBI accepts 95% of bond buyback ahead of monetary policy review India plans increased bond buybacks and switches to secure sovereign rating upgrades India bond traders suggest borrowing tweak to bring down long-term yields, sources say Browse all Bonds News with The Reserve Bank of India (RBI) delivered a larger-than-expected 50-basis point (bp) rate cut on Friday, its steepest in five years, but changed its policy stance to "neutral" from "accommodative", stating that it may have limited space for further easing. RBI Governor Sanjay Malhotra said, after having cut rate by 100 bps, under the present circumstances, monetary policy is now left with very limited space to support growth. Live Events The central bank also announced a cut in banks' cash reserve ratio by 100 bps to 3%, adding to already surplus liquidity. J.P. Morgan Chase now expects 5.50% to be the terminal repo rate, against its earlier prediction of 5.00%. The RBI may keep rates on hold until at least the end of this fiscal year, a snap Reuters poll of economists found after Friday's decision. Still, Nomura is anticipating the RBI to cut rates by 25 bps each in October and December as growth and inflation are expected to undershoot targets. RATES The shorter duration overnight index swap (OIS) rate was witnessing some downward move amid receiving interest, while other swaps were flat to higher. The one-year OIS rate was 2 basis points down at 5.46%, while the two-year OIS rate was little changed at 5.44%, and the most liquid five-year was higher at 5.69%.
Economic Times
27 minutes ago
- Economic Times
India poised to benefit from FTAs, says RAI CEO Kumar Rajagopalan
Live Events SINGAPORE: India has emerged as a 'great place' to use the advantages accruing from Free Trade Agreements (FTAs), a senior retail industry official said as he highlighted the success of Make in India programme.'We are among the most attractive markets, with a growing young population that makes us one of the world's largest consumer markets with insatiable demand for the best in the world,' said Retailers Association of India (RAI) CEO Kumar Rajagopalan at an event will also give Indians access to items that get manufactured abroad at a more convenient pricing, he he was also quick to dismiss notions of dumping cheap inferior goods into the Indian market, pointing out that the country has created laws that can protect against such trade-damaging practices, and that can be challenged at the World Trade to Kumar, a trade veteran of 40 decades, a full-fledged quality control checking system is in place to ensure Indian consumers are getting the best products as imports of edibles is set to increase following the signing of more and more FTAs by the Indian government in an endeavour to reach out the global markets India has always imported consumer products from around the world but in recent years with the economic prosperity momentum picking up, the country has become 'more and more attractive as a consumer-driven market', given the young population with rising income seeking the best quality, cost-effective, long-lasting and appealing products, Kumar pointed are increasing India's bilateral trade globally, covering value-added high-end and heavy-duty industrial products to edibles such as soybeans, cheeses, vines and leads about 2,500 members, mostly retailers at national level, with an annual business volume of about USD 900 billion, that is set to grow at 10 per cent to PTI after participating in the National Retailers Federation's 2025 for Asia Pacific held in Singapore during June 3-6, Kumar pointed out that the Make in India programme is producing world-class high-standard products both for the domestic market as well as export, 'thanks to the FTAs opening more export opportunities'.Kumar also sees competition from world-class products for Make in India. "Imports and exports will create a competitive landscape and we will see further upgrades in manufacturing processes within India to make globally-rated products be it hardware, software and or edibles.'India, he said, produces agri and non-agri products for consumers as well as industrial plants for the said that 85 per cent of the 7,00,000 stores in India are still operating in traditional formats, ranging from the corner shop Kiraana to single store supplying everything in the range of garments and edibles, competing with mega modern-day fast-pace trading department stores, online and offline supply chain and quick-commerce have reduced delivery time to 10 minutes while e-commerce and online payments have made retailing business easier and prompt, he observed.A latest example of India made products from design to garment production is Mumbai-headquartered 'Fynd', an artificial intelligence-driven commerce platform that is serving the Indian market as well as the Middle East and Africa 2025 had 9,500 trade visitors from over 72 countries, alongside participation from 240 exhibitors and sponsors, and 150 conference speakers.
