Festive Demand News Today

EQS Newswire / 12/04/2024 / 17:36 UTC+8   FOR IMMEDIATE RELEASE   Chow Tai Fook Jewellery Sustained 12.4% Growth in RSV in 4QFY2024, Leveraging Festive Demand and...

Chow Tai Fook Jewellery Posts 46.1% Growth in Retail Sales Value In ...

Two-wheeler Sales: Overall, the two-wheeler registration witnessed a 21% growth during the month to over 22 lakh two-wheelers, according to Vahan data. Of that, petrol-driven two-wheelers stood at close to 21 lakh units while electric vehicles (EV) were at 91,253 units, indicating a recovery in volumes after the government reduced the subsidy which led to a dip in EV sales earlier during the year.

"Contrary to expectations, Diwali witnessed subdued enthusiasm for the FMCG sector. Post-Diwali sales have historically been low. Particularly hard-hit segments are chocolates, confectionery and biscuits, followed by beauty, and cosmetics," said Dhairyashil Patil, national president of All India Consumer Products Distributors Federation (AICPDF).

Festive Demand: "Contrary to expectations, Diwali witnessed subdued enthusiasm for the FMCG sector. Post-Diwali sales have historically been low. Particularly hard-hit segments are chocolates, confectionery and biscuits, followed by beauty, and cosmetics," said Dhairyashil Patil, national president of All India Consumer Products Distributors Federation (AICPDF).

Gold Imports: Higher imports by the worlds second-biggest bullion consumer could support benchmark gold prices, but may also widen Indias trade deficit and put pressure on the ailing rupee.

In its monthly State of the Economy article, the Indian central banks economists noted that there is a consensus that GDP growth in July-September will be higher than the RBIs forecast of 6.5 percent

Indian automakers celebrated their most successful festive season to date, marking a remarkable 41% year-on-year surge in passenger vehicle (PV) sales during the three months spanning the festivals of Onam to Bhai Dooj.

Economists say most indicators remain elevated but there are signs of growth slowing. "Indias manufacturing sector generated substantial growth in October, despite a challenging global economic environment," said Pollyanna De Lima, economics associate director at S&P Global Market Intelligence.

October Fuel Sales: Government data showed power consumption spiking to 138.9 billion units (BU) compared to 113.9 BUs a year ago and 112.7 Bus in October 2021 on the back of post-monsoon resumption of economic activities and Durga Puja festivities in large parts of the country.