Indian retail market set to reach Rs 190 lakh crore by 2034 as consumption surges

Mumbai, (IANS): India, the fastest-growing major economy, is set to become the third-largest by GDP by 2030, driving a Rs 190 lakh crore retail market by 2034, according to a report released on Thursday.Consumption in the country has been expanding at a pace ahead of other large economies. The Indian retail market is growing and this expansion has outpaced overall consumption, highlighting the sector’s resilience and strong momentum, according to the report by Boston Consulting Group (BCG) and the Retailers Association of India (RAI).India’s retail market has grown from Rs 35 lakh crore to Rs 82 lakh crore in the last decade, witnessing a 9 per cent growth."It is expected to be Rs 200 lakh crore in the next decade and will offer diverse opportunities which are all at scale and need very different operating models to deliver a winning proposition. There is an opportunity for multiple trillion-rupee turnover retailers by 2035," BCG Managing Director and Senior Partner, Abheek Singhi, said.Affluent households are projected to triple by 2030, creating significant opportunities in premium...
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40 Indian startups secure over $787 million in funding this week

New Delhi, (IANS) In a significant week for the Indian startup ecosystem, nearly 40 startups secured more than $787 million in funding as the economy remained resilient amid the geo-political conditions.These deals included 16 growth-stage deals and 23 early-stage ones.This is a massive jump from $250 million raised cumulatively across 18 deals last week.Cloud kitchen unicorn Rebel Foods led the funding with $210 million led by Temasek in a mix of primary and secondary share sales. Rebel Foods is planning for a public listing by next year.Fintech startup Mintifi raised a total of $180 million in its Series E round led by TVG and Prosus. Mintifi plans to deploy the fresh capital to expand its footprint across key sectors.Meanwhile, CarDekho SEA, the Southeast Asia business unit of digital automotive solutions provider CarDekho Group, raised its first external funding round of $60 million.The round was led by prominent growth and private equity investors Navis Capital Partners (Navis) and Dragon Fund. Following this round, the cumulative fundraise now stands at more than $100 million.Haber,...
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Ericsson wins multi-billion 4G, 5G deal from Bharti Airtel for India ops

New Delhi, (IANS): Telecommunications giant Ericsson on Wednesday said it has been awarded a multi-billion, 4G and 5G extension deal by Bharti Airtel for its India operations.As part of the multi-year deal for 4G and 5G RAN products and solutions, Ericsson will deploy centralised RAN and Open RAN-ready solutions for network transformation, which will help customers with wider coverage and the enhanced capacity on the network.Ericsson will also undertake the software upgrade of its current deployed 4G radios thereby enhancing the customer experience, it said in a statement.“This deployment will enable us to further improve the speed, reliability, and coverage of our network, ensuring an exceptional experience for our customers,” said Randeep Sekhon, CTO, Bharti Airtel.As a global leader in 5G, Ericsson currently powers 170 live 5G networks in more than 70 countries. The company has been a trusted connectivity partner for Airtel for over 25 years, supporting every generation of mobile communications.Andres Vicente, Head of Ericsson South-east Asia, Oceania and India, said that this partnership...
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