Indian economy is expected to grow slightly higher at 7.5 per cent in 2015, according to the global rating agency Moody’s.
“India’s economy is on a cyclical upswing. Forward looking indicators suggest domestic demand is gathering momentum,” said Faraz Syed, associate economist, Moody’s Analytics.
Lower oil prices will help to increase the incomes of India, especially among the lower class people and help to drive down the hike of prices keeping it close to target in 2015, said the world economy’s health report releasedon Tuesday.
“Lower rates as well as the government’s infrastructure and disinvestment programs should provide a boost to domestic-oriented industries,” said Syed.
While India’s economy is on an upwing, China’s growth story is showing a downfall.
According to the International Monetary Fund’s latest World Economic Outlook (WEO), “While India’s development is expected to stay steady at 7.5% in 2016 too, China’s growth is expected to fall from 7.4% in 2014 to 6.8% in 2015 and 6.3% in 2016.”
Seventy-nine per cent smartphone users in India are using over-the-top (OTT) apps for entertainment and as many as four out of five users have at least one OTT entertainment platform on their device, a new report said on Thursday.
Hotstar is the most-penetrated OTT entertainment app with 49 per cent of smartphone users having it installed on their devices.
The OTT platforms installed on the devices are in addition to the casual entertainment apps such as YouTube and UGC (User Generated Content) platforms like TikTok and with such as penetration, OTT entertainment apps have become the ‘most-penetrated’ app category for smartphone users in India after social networking, chatting and e-commerce Apps, revealed the report by market research firm techARC.
“Over the past three years, we have seen a lot of enablement both from the smartphone OEMs as well as operators’ sides. This has facilitated the growth of OTT entertainment services as well as consumption.
“While 4G has undoubtedly created this category, it has been complemented by the smartphone industry that has innovated to save every micron on the screen for full-screen viewing, backed by a powerful battery and stereophonic sound,” said Faisal Kawoosa, Founder and Chief Analyst, techARC.
One of the main factors for Hotstar’s growth has been its sports content, especially cricket.
Meanwhile, Amazon Prime Video has slightly better penetration than Netflix in India. Prime Video penetration is 15 per cent as compared to 13 per cent of Netflix.