The Economic Times The Economic Times

The Economic Times How influencer marketing has upended India Inc’s sales pitch and advertising spends by drawing big money

Influencer marketing is expected to grow by 25% in 2024, reaching ₹2,344 crore and rising to ₹3,375 crore by 2026, as per the report. The report was "based on an EY survey of 2,053 respondents, including 86 brands, 556 creators, and 1,411 other industry professionals," said Amiya Swarup, partner, marketing advisory, EY India. Roughly 40% to 57% brands in categories like FMCG, ecommerce, and automobile are expected to increase spending on influencer marketing by 10% by 2026.

The Economic Times Apparel exports to grow by 8-9% in FY2025 led by expected US and EU demand towards stock replenishment: ICRA

ICRA expects a revenue recovery for sample companies in FY2025 from the low base of FY2024, driven by stock replenishment in the US and EU regions. Indian apparel exporters aim to strengthen market presence and profitability in FY2025.

The Economic Times Oaktree invests Rs 1,600 crore in Sesa's bonds

The funds are raised by mortgaging fixed and movable assets of Vedanta and Sesa Resources. The company has also pledged its entire shares as security against loans.

The Economic Times Getting viksit needs a proper 360° plan

Ensuring that plans for 2025-35 leave no one behind will require getting the best and widest possible inputs. As ministries factor these in to draw up their plans, they will need to undertake impact assessments of different pathways to become viksit by 2047. This is essential to identify the best possible pathways to achieve the target.

The Economic Times NCLT approves merger between Hinduja Group’s healthcare, real estate companies

Under the scheme of merger, Hinduja Healthcare, engaged in healthcare services, will be amalgamated into Hinduja Realty Ventures that focuses on real estate development.

The Economic Times JSW Energy to raise Rs 5,000 crore via QIP

A QIP is a way for listed companies to raise capital by issuing shares to eligible institutional bidders. Details of the QIP, dates, and pricing are yet to be determined.

The Economic Times Byju’s lays off about 500 staffers, nearly half from tuition centre business

Layoff at Byju's has hit 500 staffers, affecting Tuition Centre operations, amidst a funding crisis. Staff face delayed salaries amid NCLT hurdles and upcoming $200-million rights issue, with assurances of arrears settlement by April 8.

The Economic Times Audit fees growth lags corporate expansion in India

While the audit fee hike is marginal, the sharply increasing complexity in business operations, heightened regulatory oversight on listed companies, growing complexity in reporting requirements, and escalating talent and organisation costs every year are putting auditors in a tough spot.

The Economic Times Indian government meets revised tax collection targets for fiscal 2024: Official

The Indian government has met the tax collection target for 2023-24 of over Rs 34.37 lakh crore, driven by strong economic activity and improved compliance. Direct tax target was set at Rs 19.45 lakh crore, while GST collections hit record highs. India's robust growth projected at 7.6%-8%.

The Economic Times FMCG sector: Rural demand growth for daily essentials outstrips urban sales

Rural markets grew 6.5% by volume in both December and January, and by 11.1% in February, according to executives citing NielsenIQ data. Urban markets, in comparison, grew 6.1% in December, 4.7% in January and 8.7% in February, data showed.

The Economic Times IT sector’s challenges persist in Q4; guidance for FY25 in focus

HCLTech and Tata Consultancy Services (TCS) poised to dominate Indian outsourcing industry with expectations of revenue growth acceleration in FY25 driven by higher discretionary expenses and strong deal wins in the US market.

The Economic Times Sanjay Nayar takes over as Assocham president

Sorin Investment Fund Chairman Sanjay Nayar has been appointed as Assocham president for 2024-25, succeeding SpiceJet's Ajay Singh. Nayar has four decades of experience in global financial markets and plans to collaborate with the Centre on PM Modi's vision for India's development.

The Economic Times World Bank projects Indian economy to grow at 7.5% in 2024

Indian economy set to grow at 7.5% in 2024, with South Asia expected to grow at 6.0%. Concerns include fiscal positions and climate shocks. India's inflation remains within RBI's target range, signaling positive financial indicators.

The Economic Times Warburg Pincus frontrunner to buy Shriram Housing Finance

Bain Capital is other key contender; binding bids submitted last week. Shriram Housing offers an opportunity for a PE player to benefit from the sharp growth expected in India's affordable housing space, which has gained significant momentum following the post-Covid shift in favour of home ownership

The Economic Times Windfall gain: Infosys reports I-T refunds of Rs 6,329 crore, faces tax demand

The tax refund orders span 11 assessment years and include interest pertaining to assessment years ranging from the financial years 2007-08 to 2018-19, with the exception of 2016-17.