Rural Markets Continue To Surpass Consumption In Urban India: NielsenIQ

* Consumption-driven value growth (5.7%), price growth (1.5%) remains flat

* Rural value growth at 6.7% continues to stay ahead of Urban at 5.0%

* Staples led Food recovery (3.4%) while Home & Personal Care (HPC) volume stabilizes at 6.0%

NielsenIQ (NIQ), the world's leading consumer intelligence company, released the FMCG Quarterly Snapshot for Q3’24 (JAS’24). According to the report, Indian FMCG (fast-moving consumer goods) industry has experienced a 5.7% growth in value, reflecting industry's resilience on a 1.5% price growth and 4.1% volume growth.

Roosevelt Dsouza, Head of Commercial – India at NielsenIQ, stated, " The Indian FMCG industry shows resilience with steady value growth and marginal price increase. Rural volume growth at 6% continues to surpass urban markets, despite softer consumption in both regions this quarter. Small manufacturers are rebounding after recent decline, while major players trail in value growth.” 

Market Dynamics: Rural continues to outpace urban

In Q3 2024, both urban and rural markets showed a sequential recovery in consumer demand. Urban consumption growth in Q3’24 is 2.8%, while rural growth increased to 6.0% from 5.2% in the previous quarter, 2X faster growth than Urban. Notably, rural areas continue to surpass urban areas in volume growth across most regions of India. Traditional Trade volumes grew by 4.1% in Q3 2024, compared to 3.0% in Q2 2024. Despite the slowdown, Modern Trade manages to outpace urban growth.

Festive signs emerging: Food volume growth led by staples and impulse    

FMCG saw slight improvement in volume growth in Q3 2024. Food consumption growth increased to 3.4% in Q3’24 compared to 2.1% in Q2’24 (refer to Chart 3). This uptick in volume growth is attributed to Staple categories – Edible oils, Packaged Atta, and Spices despite price growth. In HPC categories, the consumption growth stabilizes at 6.0% in Q3’24 compared to Q2’23 at 6.7%. This stabilization in consumer demand for HPC categories is observed in both Urban and Rural.

Over the Counter categories like Rubefacient, Analgesics exhibited a growth in value sales to 11.7% in Q3’24 backed by price growth.

Small players rebound

Large players continue to demonstrate stronger performance compared to small, mid players, and giants. Small manufacturers recovered from consumption decline of last 3 quarters & grew faster than giants this is led by sharp recovery in volume growth in Food for small players. Giants grow slowest in terms of value growth; and volume growth drops compared to AMJ’24.

Magicbricks Survey Shows 35% Buyers Eye Ultra-Luxury Properties

Magicbricks' latest survey across 13 prime cities reveals a robust customer sentiment towards luxury real estate. The survey highlights that 25.5% of prospective buyers are considering properties priced above ?1 crore, with significant interest in the ?3.5–5 crore segment.

Interest in luxury and ultra-luxury homes has surged dramatically, with 35% of respondents expressing high intent, nearly double the 18% recorded in the previous quarter. This notable shift reflects growing confidence in the luxury housing market.

The survey also underscores a strong preference for larger living spaces. Around 45% of respondents are seeking homes above 2,000 sq. ft., driven by post-COVID lifestyle changes and rising disposable incomes. Additionally, 56% of buyers favor configurations of 3BHK or larger, emphasizing a demand for more spacious and functional homes.

These insights underline a dynamic shift in consumer preferences, reinforcing the luxury segment’s prominence in India's real estate landscape.

Magicbricks is India’s No.1 property site

As the largest platform for buyers and sellers of property to connect in a transparent manner, Magicbricks has monthly traffic exceeding 2 crores and an active base of over 15 lakh property listings. Magicbricks has metamorphosed into a full stack service provider for all real estate needs, with services including home loans, interiors, and expert advice.

With 17+ years of experience and deep research-based knowledge, Magicbricks also presents a repertoire of insight-driven platforms like MBTV- India’s leading online real estate YouTube channel, and other proprietary tools so that home buyers can access all information related to price trends and forecasts, locality reviews and more.

FADA Releases Oct'24 Vehicle Retail Data For The State Of Karnataka

The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for Oct'24 for the State of Karnataka.

Oct'24 Retails

Commenting on how Oct'24 performed, FADA Karnataka State Chairperson, Mr Dharma Teja G said, “October 2024 witnessed two major festivals, Navratri and Diwali, in the same month. These festivities traditionally account for huge portion of annual auto sales, so the industry's focus was keenly on how October would unfold. With dealers entering this crucial period fully hope, the month did not disappoint!

 Overall retail sales grew by 28% YoY. All categories showed positive growth, with 2W up 31%, 3W up 32%, PV up 25%, Trac up 16% and CV up 6% YoY. The festival period was preceded by a good Monsson and harvest. With the continuing of marriage season, we hope for a positive growth story in Nov 24 also.”

About FADA India

 Founded in 1964, Federation of Automobile Dealers Associations (FADA), is the apex national body of Automobile Retail Industry in India engaged in the sale, service and spares of 2 & 3 Wheelers, Passenger Cars, UVs, Commercial Vehicles (including buses and trucks) and Tractors. FADA India represents over 15,000 automobile dealers having 26,500 dealerships including multiple Associations of Automobile Dealers at the Regional, State and City levels representing the entire Auto Retail Industry. Together we employ ~4 million people at dealerships and service centres.

FADA India, at the same time also actively networks with the Industries and the authorities, both at the Central & State levels to provide its inputs and suggestions on the Auto Policy, Taxation, Vehicle Registration Procedure, Road Safety and Clean Environment, etc. to sustain the growth of the Automobile Retail Trade in India.

Marriott International Announces Global Launch Of Connect Responsibly With Marriott Bonvoy Events

* New program to offer meeting planners a meeting impact report and access to select carbon offset projects

Marriott International, Inc. (Marriott) today announced the launch of Connect Responsibly with Marriott Bonvoy Events (Connect Responsibly), a program designed to help meeting planners embed sustainability into their events at participating hotels in the Marriott Bonvoy portfolio. Connect Responsibly plans to offer meetings and events customers access to detailed Meeting Impact Reports to measure the environmental impact of their events and select options to purchase carbon credits.

The program is anticipated to go live at managed and franchised properties from participating brands globally by the end of October. As part of the global launch, Connect Responsibly is expected to be available in nearly 133 hotels in India, and nearly 500 properties in Asia Pacific Excluding China.

“There is nothing like connecting in person, and doing so responsibly makes it that much better. With the Connect Responsibly program, we are giving our meetings and events customers options to better understand the impacts of their meetings as we collectively strive to create a more resilient future for travel,” said Erika Alexander, Chief Global Officer, Global Operations, Marriott International.

Fueled by growing demand for meeting solutions that address sustainability and informed by research and consumer insights from its global pilot program, Marriott is focused on offering a Meeting Impact Report through the Connect Responsibly program. Available following an event, the user-friendly Meeting Impact Report is intended to capture event details, property-specific sustainability practices implemented for the event, and the event’s carbon and water footprints, calculated through established hospitality industry methodologies. Marriott expects the Meeting Impact Report to be available in 11 different languages based on location. 

In collaboration with South Pole, a carbon asset developer and climate consultancy, Marriott plans to offer meetings and events customers the ability to access select carbon offset projects. Through the Meeting Impact Report, these customers will have the option to utilize the South Pole online shop to choose from a range of carbon offset projects – verified by independent third-party organizations – that can be purchased as part of their event.

“Meetings and events are important business for Marriott. Our customers are eager to participate in sustainability efforts. Connect Responsibly expands ongoing initiatives and strengthens our efforts focused on sustainability in hospitality,” said Tammy Routh, Senior Vice President, Global Sales, Marriott International. “We are excited to build on our sustainability reporting capabilities to provide our meetings and events customers with detailed Meeting Impact Reports and offer access to a select portfolio of verified carbon offset projects, through our collaboration with South Pole.”

This announcement is part of Marriott’s efforts to reduce greenhouse gas emissions at properties and in the supply chain. As of April 2024, Marriott is the largest global hospitality company to receive approval from the Science Based Targets initiative for both near-term and long-term science-based emissions reduction targets (SBTs). To drive progress toward its SBTs, Marriott launched the company’s Climate Action Program (CAP), which includes property-level carbon reduction goals and actions.

Connect Responsibly supports Marriott’s Sustainability and Social Impact Platform, Serve 360: Doing Good in Every Direction. For more information on the company’s Serve 360 initiatives, visit http://www.marriott.com/Serve360.

About Marriott International, Inc.

Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of approximately 9,000 properties across more than 30 leading brands in 141 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. For more information, please visit our website at www.marriott.com. In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.

Kansai Nerolac Paints Ltd Announces Q2 Results FY 2024-2025

Kansai Nerolac Paints Limited (KNPL), one of the leading Paint companies in India, today at the Board meeting announced its unaudited results for the second quarter of financial year 2024-25. For the quarter, the company declared Net revenue of

Rs. 1864 Crores, a growth of 1 % over the corresponding quarter of the previous year.

EBIDTA was at Rs 215 Crores, a de-growth of 20.3 % over the same quarter of the previous year. PAT was at Rs 130 Crores, a de-growth of 27.6 % over the same quarter of the previous year. Margin was affected due to change in mix and ongoing investments in capability building for the future.

For the half year net revenue was flat at Rs. 3914 Crores over the same period of the previous year. EBIDTA was at Rs 549 Crores, a de-growth of 9 % over the same period of the previous year. PBT before exceptional items was at Rs. 516 Crores, a de-growth of 6 % over the same period of the previous year.

Commenting on the results, Mr. Anuj Jain, Managing Director, Kansai Nerolac Paints Ltd said, “The company is seeing strong growth in the areas of Paint+ products, services, projects, construction chemicals and wood finishes. Overall demand in Decorative was affected due to heavy and extended monsoons. A good monsoon would augur well, and we expect demand to improve in the second half.

In Automotive growth was good on the back of several initiatives and we expect this momentum to be maintained.

Performance Coating has also done well and is expected to remain strong on the back of a good order pipeline.

Raw material prices initially showed an inflationary trend but as the quarter progressed, raw material prices have gradually started softening.”

Outlook of Indian Paint Industry:

The size of domestic paint industry is estimated at around Rs. 75000 crores as of March 2024.The good growth in infrastructure, core sector as well as automobile and real estate is likely to have a positive effect on the overall demand of paint for the industry in the long run.

Aakash Educational Services Limited (AESL) Achieves Record Breaking Milestone: One Million Students Appear For ANTHE 2024

* This extraordinary milestone is a first in the test preparation sector, that is remarkable and unprecedented.

* ANTHE offers financial support to deserving students, helping them bridge the gap between their aspirations and their capabilities.

I* t serves as a launchpad for students, equipping them to prepare for high-stakes competitive exams.

Aakash Educational Services Limited (AESL), the national leader in test preparatory services, has achieved a phenomenal milestone -- One Million students participated in its flagship scholarship examination, the Aakash National Talent Hunt Exam (ANTHE) 2024. Held nationwide, ANTHE is renowned for empowering aspiring students from Class VII-XII with up to 100% scholarships and substantial cash awards to pursue their dreams in medicine and engineering.

This extraordinary milestone is a first in the test preparation sector, that is remarkable and unprecedented. This feat not only reflects the growing trust in the high-quality teaching imparted at Aakash but also establishes a new benchmark for future initiatives. The scholarship exam was held across India in both online and offline mode from October 19-27, 2024.

ANTHE 2024 offered students a platform to showcase their skills and ambitions while providing them with access to AESL’s rigorous and comprehensive coaching programs, designed to excel in competitive exams like NEET, JEE, State CETs, and prestigious scholarships such as NTSE and Olympiads.

Mr. Deepak Mehrotra, MD and CEO of Aakash Educational Services Limited (AESL), shared, “ANTHE is more than a scholarship exam; it’s an opportunity for young minds to unlock their potential and gain access to quality education. We are committed to supporting students nationwide, enabling them to compete at the highest levels and realize their dreams of a successful career in medicine or engineering.”

ANTHE has built a legacy of nurturing talent, and many past participants have gone on to achieve top ranks in NEET UG and JEE Advanced, setting benchmarks across the nation. Designed as a one-hour test with a total score of 90, ANTHE comprises 40 multiple-choice questions, tailored to each class and stream, covering subjects such as Physics, Chemistry, Biology, Mathematics, and Mental Ability.

For Class VII-IX students, the exam tests fundamentals across these subjects. Class X students aiming for medical or engineering pathways are assessed accordingly: medical aspirants cover Physics, Chemistry, Biology, and Mental Ability, while engineering aspirants tackle Physics, Chemistry, Mathematics, and Mental Ability. Similarly, Class XI-XII students are tested in their chosen fields—medical aspirants in Physics, Chemistry, Botany, and Zoology, and engineering aspirants in Physics, Chemistry, and Mathematics.

With the participation of one million students, ANTHE continues to inspire and cultivate academic excellence across India, providing each participant with the resources, mentorship, and opportunities to achieve their academic and professional goals.

HDFC Life & riidl Somaiya Vidyavihar Join Hands For Futurance Phase 6 ‘Demo Day’

HDFC Life, one of India’s leading insurers, recently partnered with riidl Somaiya Vidyavihar, the startup incubation centre supported by Somaiya Trust, to host the ‘Demo Day’ for Futurance Phase 6.

Futurance, an ongoing corporate engagement programme, initiated by HDFC Life, is designed to provide startups with opportunities to develop innovative, next-generation solutions. It involves a competitive process where applications are invited from startups. The shortlisted ones get a platform to present their solutions.

Further, the winners get an opportunity to engage with HDFC Life’s leadership team, collaborate with business units, expand their customer reach, and commercialise their products.

Currently in its sixth phase, Futurance 2024, focused on the areas of MedTech, MarTech and HRTech. The ‘Demo Day’ followed the evaluation of hundreds of applications across these focus areas. Seven startups were shortlisted to present their solutions, with the top three emerging as winners. These winning startups will now conduct a Proof of Concept (POC) with HDFC Life.

Commenting on the success of Futurance Phase 6 – Demo Day, Vineet Arora – Chief Business Officer – Distribution, Data & Technology HDFC Life, said, “At HDFC Life, innovation is a way of life. We are always looking for innovative solutions to address business challenges, and partnering with startups enables us to explore cutting-edge solutions. Futurance has consistently introduced us to startups capable of delivering impactful solutions. As an insurer, we constantly strive to enhance efficiencies and improve the overall customer experience.”

Gaurang Shetty, Chief Innovation Catalyst at riidl Somaiya Vidyavihar, stated, “Bestowed with the National Award by the Department of Science & Technology, riidl Somaiya Vidyavihar has been driving innovation and entrepreneurship since 2010. With support by the Department of Science & Technology, BIRAC, Department of Biotechnology, Govt of India, and the Maharashtra State Innovation Society- Government of Maharashtra, it has incubated over 250 startups and facilitated the creation of over 1,000 jobs and internship opportunities. At riidl Somaiya Vidyavihar, we are always creating and engaging in opportunities to help innovation driven founders grow and succeed. Our partnership with HDFC Life, through its Futurance program, has been instrumental in providing entrepreneurs the opportunity to pilot their solutions, which is often a challenge. This corporate engagement program offers startups the possibility of commercial partnerships upon successful pilot completion, enabling them to innovate and create real impact in the ecosystem.”

Winners of Futurance Phase 6 – Demo Day are as follows:

MarTech

SaleAssist Innov8 Pvt Ltd

SaleAssist is an award-winning AI-powered live video commerce solution that enables live video selling and video-led customer engagement to drive higher sales conversions. The platform has facilitated over one million video selling sessions.

Vocbot.ai Technology Pvt Ltd

Vocbot.ai uses AI to create a patented cloud-based CRM (SaaS) platform that manages high volumes of inbound and outbound calls. It maximises the value of voice-bot conversations by integration of voice modules in more than 23 languages.

MedTech

Answer Genomics

Answer Genomics addresses the challenge of non-standardised ECG inputs from various vendors by utilising AI to develop an advanced ECG analyser. This analyser leverages multiple models to deliver more accurate inferences, processing 5 million data points per sample.

About HDFC Life

Founded in 2000, HDFC Life Insurance Company Limited (‘HDFC Life’ or the ‘Company’) is a leading provider of long-term life insurance solutions in India. It offers a broad range of individual and group plans across the Protection, Pension, Savings, Investment, Annuity, and Health categories, with a portfolio of products and optional riders designed to meet the diverse needs of its customers.

HDFC Life is a subsidiary of HDFC Bank Limited, one of India’s leading private banks. The Company has a nationwide presence, operating through its own branches and a network of over 300 distribution partners, including banks, NBFCs, MFIs, SFBs, brokers, and emerging ecosystem partners. HDFC Life also maintains a strong base of financial consultants.

Recognised as a great place to work, HDFC Life is deeply committed to governance and sustainability, ensuring responsible business practices that align with its long-term objectives.

For more information, visit www.hdfclife.com or follow us on Facebook, X (formerly Twitter), YouTube, and LinkedIn.

About riidl Somaiya Vidyavihar:

riidl Somaiya Vidyavihar supports the creation and incubation of early-stage companies from ideation to commercialization by providing them with resources, labs, facilitating government grants, investor connections, funding and mentorship. Business incubators of riidl Somaiya Vidyavihar are supported by the Department of Science & Technology; BIRAC, Department of Biotechnology, Government of India and Maharashtra State Innovation Society, Government of Maharashtra. It has incubated over 250 startups and facilitated in creating 1000+ jobs and internship opportunities while the total revenue generated by the startups is over INR 300 Cr.

riidl Somaiya Vidyavihar has been bestowed with the National Award for the year 2020 in the Emerging Technology Business Incubator category by the Department of Science and Technology.