NEW DELHI: Goods and Services Tax (GST) collections rose 8.9% to Rs 1,87,346 crore — the second highest monthly collection — due to a healthy mop-up on domestic transactions. The highest ever collection of Rs 2.1 lakh crore was reported in April. The latest monthly data showed that collections from domestic sources in Oct, based…
Lexica generated AI Image Consumer companies in India making everything from soaps to cars are sounding the alarm: the urban middle class continues to trim its spending for at least the second straight quarter as inflation and unemployment weigh on sentiment. At least seven of India’s largest companies, including RIL’s retail arm and consumer bellwether…
Representative image China’s second-hand and grey markets for luxury goods are booming, as price hikes from luxury brands in a weak economy are prompting some shoppers to look for cheaper ways to buy them, deepening concerns for the likes of LVMH. LVMH, the world’s biggest luxury group, reported a 3% fall in quarterly sales last…
The luxury market, once a bastion of steady growth, is experiencing an unprecedented downturn. This decline has been starkly illustrated by the recent financial results of LVMH Moet Hennessy Louis Vuitton SE, a leader in the luxury goods sector. The slowdown in luxury spending, especially from key markets like China, has raised concerns about the…
NEW DELHI: Fitch Ratings on Tuesday raised India’s growth forecast for the current fiscal to 7.2%, from 7% projected in March, saying elevated consumer confidence will drive spending, besides increased investments.In June update to its global economic outlook report, Fitch said it expects inflation to decline to 4.5% by end of this year and RBI…
Representative Image Gap Inc on Thursday forecast a steeper-than-expected decline in current-quarter sales after missing expectations in the second quarter, hit by slowing demand for its accessories and apparel as budget-strained American customers cut back on spending. Gap’s weak sales were on similar lines to the latest earnings and forecasts from retailers ranging from Macy‘s…
