Ad expense growth pace to hit 3-year low: GroupM
Advertising expenses might expand to 10% this year in 2017, according to India's biggest media-buying agency GroupM.
This is however quite a lukewarm start to the businesses, in fact the slowest pace in three years, probably because of the effect of demonitisation that extends from the last quarter to the present.
"Demonetisation shaved off about 2% from advertising expenditure last year. If not, growth could have been 13-13.5%," said CVL Srinivas, CEO, GroupM South Asia.
New passenger vehicle financing market in India will double to Rs 1600 billion by 2020
According to a report by Ernst & Young (E&Y), India's new passenger vehicle finance market is expected to double to over Rs 160,000 crore from 2014-15 levels by the turn of the decade.
The auto finance market in India is a growing market, with 74% finance penetration, and sub 1% Non-Performing Asset (NPA) levels, says the EY Report.
With a population size expected to hit 1.4 billion in 2020, and large majority of the population belonging to the driving age, it provides for one of the world's most attractive auto markets.
Britannia signs MoU with Greece's Chipita
Britannia Industries has invited Greek baker Chipita to make rolls, croissants, and other dough products in a joint venture to meet the demands of the home market that is becoming urbanised with every passing day.
"We've signed a non-binding MoU and are working towards formalising a joint venture. We see immense scale through this partnership, since the categories are highly scalable and are bridge products between biscuits, chocolates and fresh bakery, at competitive prices," said Britannia managing director Varun Berry.
Britannia will be holding the majority stake in the venture that will involve an initial manufacturing investment of about $11million.
HTC to stop making below-Rs 10,000 handsets from this year
HTC Corp is trimming its portfolio to half this year and will be moving out from the category that's below Rs 10,000 price bracket. The company has bigger plans in the premium market and gain a higher share by value rather than by volume.
The Taiwanese smartphone maker will also launch its virtual reality headsets in India within the next quarter, at over $950 per piece, after having delayed it by a few months.
"This year we will have only 7-8 models, staggered across the year, and only above Rs 10,000," said Faisal Siddiqui, president for South Asia at HTC Corp.
Tata Motors & Volkswagen Group partnership seems imminent
A partnership seems imminent between Tata Motors, India's largest automobile company by revenue, and Volkswagen Group, Europe's largest car maker by volume.
This merger will have a wide-ranging impact on India and other emerging markets.
The contours of the partnership, on whether it will be a joint venture or a technology tie-up, are still being worked out. The negotiations are in progress and could culminate in an announcement at the Geneva International Motor Show in March.