Daily News - Monday, 4 November 2024
Indian airlines gain international market share amid growth in travel demand (The Indian Express)
Indian airlines have been expanding their international market share post-pandemic, growing from 43.9% in 2022 to 45.6% in Q1 2023, compared to just 34.7% in 2019. This growth, driven by IndiGo and Tata group airlines like Vistara and Air India Express, contrasts with the decline in market share for some foreign carriers, including Emirates, due to reduced capacity and geopolitical disruptions affecting Western airlines. Overall, while Indian airlines are capturing more of the 1.77 crore international passengers in Q1, they still face challenges, particularly in long-haul routes where passengers often prefer connecting flights through foreign hubs.
’Gold Set to Deliver Up to 18% Returns in Samvat 2081’ (The Economic Times)
Gold is forecasted to deliver a strong 15-18% return in Samvat 2081 (a period that marks the start of the Hindu financial year, coinciding with the auspicious festival of Diwali), driven by factors such as safe-haven demand, stable interest rates, and potential import duty cuts, according to analysts. In Samvat 2080, gold outperformed most assets, surging over 30%, fueled by geopolitical tensions, central bank purchases, and shifting global interest rate policies, with prices reaching ₹82,400 per 10 grams, a 35% rise since October 2023. Similarly, silver delivered 40% returns due to its dual role as both a precious and industrial metal, with analysts predicting continued strong performance in Samvat 2081, supported by growing demand in sectors like solar energy and electronics.
One Railway App for Ticketing, Tracking Trains Expected to Make its Debut in Dec (The Economic Times)
The Indian Railways is set to launch a super app by the end of December, integrating multiple services like ticket booking, train status checks, and more, consolidating apps like IRCTC Rail Connect, UTS, and others. Developed by the Centre for Railway Information Systems (CRIS) with IRCTC as the interface, this app aims to streamline passenger services, offering features such as reserved and unreserved ticket booking and food delivery to train seats. IRCTC, which currently dominates online train reservations with over 453 million tickets booked in FY 2023-24, expects this app to generate additional revenue while enhancing user experience.
India Rises as a Global Player in Petro, Gemstone, Sugar Exports (The Economic Times)
India has significantly improved its export competitiveness across several sectors between 2018 and 2023, with petroleum, gemstones, agrochemicals, and sugar showing notable gains. Petroleum exports surged to $84.96 billion in 2023, raising India’s global market share to 12.59%, making it the second-largest exporter in the world. Similarly, India became the top exporter of gemstones, with its market share rising from 16.27% to 36.53%, and its sugar exports more than quadrupled to $3.72 billion, further solidifying its strong position in global trade.
India won’t see slump in tech spend: MS (Financial Chronicle)
Microsoft’s India and South Asia president, Puneet Chandok, anticipates no slowdown in technology spending in India, noting strong momentum in artificial intelligence driven by the popularity of ‘Copilot’ and industry-specific applications. He highlighted a shift from skepticism to optimism regarding AI, with Microsoft focused on building transformative technologies responsibly and aiming to make AI accessible to all in India, supported by initiatives like the ADVANTAGE INDIA program to train 2 million individuals in AI skills over the next two years. Chandok emphasized India’s dynamic tech market, which is among Microsoft’s fastest-growing globally, leading to significant investments and a commitment to support the country’s transition to an AI-first nation.
