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Consumer Sentiments Appear Weak and Slowdown Persists though Growth Not “Falling Off Cliff”

On the consumer market, it said the distribution is undergoing a change and 'kiranas' are here to stay and they are getting a strong foothold

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Consumer, Slowdown, Growth
"Consumer sentiments appear weak and slowdown persists but growth does not seem to be falling off a cliff," the broking house said in a note. Pixabay

Broking firm HSBC Securities on Thursday said consumer sentiments appear weak and the slowdown persists though growth is not “falling off a cliff”.

“Consumer sentiments appear weak and slowdown persists but growth does not seem to be falling off a cliff,” the broking house said in a note.

On the consumer market, it said the distribution is undergoing a change and ‘kiranas’ are here to stay and they are getting a strong foothold.

Finance Minister Nirmala Sitharaman a day ago in Chennai said though GDP growth has declined to five per cent in the first quarter, ups and down are part of the growth process and the government is responding to the current economic challenges to revive demand and consumption in the country.

Consumer, Slowdown, Growth
Broking firm HSBC Securities on Thursday said consumer sentiments appear weak and the slowdown persists though growth is not “falling off a cliff”. Pixabay

She said the “millennial mindset” of relying on taxi services, besides the upcoming stricter emission norms, are responsible for the auto sector slowdown.

The macro state of economy is such that the muted household spending as reflected in metrics like falling car sales have resulted in unsold inventories. Rising unused capacities in factory plants have shown slackening demand and feeble investment.

Automobile sellers have not been reporting brisk activity, implying lower spending ability and flat income growth. Hundreds of showrooms have shut shop.

Tractor and motorcycle sales – indicators of rural demand – continued to contract.

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Commercial vehicle sales slowed even after adjusting for base effects, beaten by low demand.

Construction activity indicators have also slowed down, with contraction in cement production and slower growth in finished steel consumption in June. (IANS)

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The Challenges, Growth and Prospects of Olive Oil Industry in India

Discussing the growth, prospects of olive oil in India

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Olive oil
For the first time in the country, experts in India will hold a panel discussion about the olive oil industry. Pixabay

BY PUJA GUPTA

For the first time in the country, experts in India will hold a panel discussion on the challenges, growth and prospects of the olive oil industry on the 13th of December at PHD Chamber of Commerce & Industry.

Rahul Upadhyay, President and Akshay Modi, Vice-President at The Indian Olive Association (IOA) will be hosting the Annual Public at the Lakshmipat Singhania Auditorium. The session will discuss the transition of olive oil from being a foreign oil to a homegrown oil with which the citizens of India can now reckon with.

The panel moderated by senior food and travel writer Rupali Dean will spearhead the session on Olive Oil In India-2.0. The panel of speakers will include noted restaurateurs, chefs, nutritionists, food researchers and biologists, entrepreneurs, retailers, food, health and fitness experts.

Olive oil india
The Indian Olive Association focuses on the problems confronting the emerging sector of olive oil and table olives in India. Pixabay

Upadhyay said, “The Indian Olive Association focuses on the problems confronting the emerging sector of olive oil and table olives in India. With Annual Public Session, we attempt to bring together the doyens from the food and health industry to discuss the problems and offer solutions that will accelerate the growth of olive oil in India.”

Akshay Modi, Vice-President at The Indian Olive Association (IOA). “The Annual Public Session is a platform that brings together all the diverse stakeholders to speak a unified voice for the greater good of the category of olive oil in India.”

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The Indian Olive Association (IOA), the national apex association of olive oil producers, growers, distributors, importers, users and consumers in India works to promote consumption and expand the market for olive oil and table olives. The association focuses on the problems confronting this emerging sector in India. Macro-economic factors like GST, Import Duty and issues with respect to the import of both table olives and olive oil are taken up by IOA with multiple authorities to streamline the import process and ensure a steady growth for this category. (IANS)