The domestic auto component industry expects to log in double-digit sales growth in the current fiscal after having reported its highest-ever turnover in 2022-23, as demand is expected to remain robust. As per the Automotive Component Manufacturers Association (ACMA), the sector reported a turnover of Rs 5.6 lakh crore last fiscal, registering a… Continue reading Domestic auto component industry reports highest turnover in FY23
Tag: FY23
HDFC Bank’s Jagdishan highest-paid bank CEO in FY23, gets Rs 10.55 crore
Sashidhar Jagdishan, MD and CEO of HDFC Bank HDFC Bank’s Sashidhar Jagdishan has emerged as the highest-paid bank chief executive in financial year 2022-23, grossing over Rs 10.55 crore in overall pay. Amitabh Chaudhry of Axis Bank drew Rs 9.75 crore payout and was the second highest paid bank CEO. He was… Continue reading HDFC Bank’s Jagdishan highest-paid bank CEO in FY23, gets Rs 10.55 crore
Reliance Retail crossed 1 bn transaction mark in FY23, to ramp up FMCG biz
Reliance Retail, which is a step-down subsidiary of Reliance Industries, has crossed the one billion transaction mark and is the only Indian retailer to feature in the top 100 retailers globally. In its Annual Report, the company said the next wave of value creation for the company was built around multiple hyper-growth engines… Continue reading Reliance Retail crossed 1 bn transaction mark in FY23, to ramp up FMCG biz
Bulk drug imports from China hit 75% in FY23 despite PLI scheme: Report
Bulk drug imports from China increased from 62 per cent to 75 per cent in the past nine years and India continues to depend on Chinese shipments despite commissioning of various domestic manufacturing projects under the government’s production-linked incentive scheme, a report said. According to a report by Care Ratings, imports of bulk… Continue reading Bulk drug imports from China hit 75% in FY23 despite PLI scheme: Report
Samsung notched up $4.09 bn worth of smartphone exports from India in FY23
Premium Based on latest data on exports from Volza, till 3 August India accounted for 18 per cent of Samsung’s exports of mobile devices globally. South Korean giant Samsung remains the largest exporter amongst individual companies which assemble smartphones in India — bigger than each of the Taiwanese equipment manufacturing services (EMS) players, Foxconn,… Continue reading Samsung notched up $4.09 bn worth of smartphone exports from India in FY23
NMDC crossed 40 MT production level in FY23: Steel Minister Scindia
Union Steel Minister Jyotiraditya Scindia State-owned NMDC has crossed 40 million tonnes (MT) production level in financial year (FY) 2022-23, Union Steel Minister Jyotiraditya Scindia said on Thursday. The minister termed the production level achieved by NMDC as ‘a record-breaking’ development. “NMDC has achieved a record-breaking production for the period up to… Continue reading NMDC crossed 40 MT production level in FY23: Steel Minister Scindia
Commission payout by top 10 mutual funds up 14% in FY23, shows data
The commission paid out to distributors by the top 10 fund houses surged 14 per cent in 2022–23 (FY23) to Rs 8,807 crore, as a sustained rise in flows from the systematic investment plan route lifted distributors’ share in the assets under management (AUM). This information is according to the commission disclosure reports released… Continue reading Commission payout by top 10 mutual funds up 14% in FY23, shows data
Per capita income to grow nearly 70% to $4,000 by FY30 from $2,450 in FY23
The country’s per capita income is likely to grow by close to 70 per cent to USD 4,000 by fiscal 2030 from USD 2,450 in fiscal 2023, helping it become a middle-income economy with USD 6-trillion GDP, more than half of which will be coming in from household consumption, says a research report. … Continue reading Per capita income to grow nearly 70% to $4,000 by FY30 from $2,450 in FY23