Namaste! Aaj ka news roundup, Newswala style!

MARKETS

Markets: The domestic market saw lackluster trading today, though it held some stability above the day's low. While FIIs remain net sellers, their selling pressure is easing, even as mixed sentiment in Asian markets reflects investor caution over potential U.S. trade policy changes.

TOP STORIES

Quick Commerce Takes Over Kirana Sales

What Happened

India's quick commerce market is witnessing rapid growth, with a projected market size of $40 billion by 2030, up from $6.1 billion in 2024. The key driver behind this surge is consumers’ growing appetite for speed and convenience. 

A recent report revealed that nearly half (46%) of Indian consumers have reduced their spending at traditional Kirana stores in favor of quick commerce platforms like Blinkit, Zepto, Swiggy Instamart, and Flipkart Minutes. 

• By 2024, quick commerce is expected to capture 21% of the total sales from Kirana stores, which translates to around $1.28 billion.

Why It Matters

The rise of quick commerce is a game-changer for the Indian retail sector. Quick commerce platforms are not just delivering groceries—they’ve expanded to offer electronics, cosmetics, medicines, and even pet supplies. The report also highlighted that 75% of online grocery buyers have increased their unplanned purchases in the past six months, with many spending over ₹400 per order.

The ease of shopping with faster delivery options has contributed to this shift, making it harder for traditional Kirana shops to compete. Moreover, platforms' ability to bypass multiple intermediaries means they can offer competitive pricing, further boosting consumer interest.

Conclusion

The future of retail in India seems to be heading toward faster, more convenient shopping experiences. Quick commerce platforms are expected to grow at a remarkable 74% in 2024, with a compound annual growth rate (CAGR) of 48% from 2023 to 2028. 

While traditional Kirana stores are still beloved by many, the shift toward online, speedy grocery deliveries is undeniable. Kirana shops will need to adapt quickly to maintain their customer base in this fast-paced retail environment.

PAISON KA KHEL

Karnataka's $17 billion startup push at BTS 2024

Karnataka’s government is bringing global investors face-to-face with its vibrant startup scene in the upcoming Venture Capital Connect, part of the Bengaluru Tech Summit (BTS) 2024, from November 19-21. With a whopping $17.5 billion in potential investment funds on the table, the event will feature over 50 global investors, including family offices, venture capitalists, and angel investors.

EnerGrid powers up India’s green future with $300M boost

IndiGrid, together with British International Investment (BII) and Norway's Norfund, has launched a $300 million venture, EnerGrid, to spark new green energy projects across India. Each partner is chipping in $100 million to help EnerGrid bid for and build greenfield transmission and standalone battery energy storage systems (BESS) projects. IndiGrid will eventually acquire these projects post-commercial operation at a pre-set value, giving it a strong growth pipeline.

TOP STORIES

India's Cooking Oil Prices Soar with No Sign of Cooling Down

What Happened?

Cooking oil prices in India have spiked 10-13% over the past month, with no drop following the high-demand Diwali season. This surge has put pressure on FMCG companies to adjust prices to cover rising costs. Key factors driving this price hike include a global increase in palm and soybean oil prices, high demand from China, and a supply crunch in India.

For example, palm oil prices in Malaysia, a top exporter, hit a 2.5-year high in early November, as production struggled due to lower output in Malaysia and Indonesia.

Why It Matters

India depends on imports for over 60% of its cooking oil needs, so global price shifts impact local prices heavily. Even though India saw an increase in domestic soybean and groundnut production, it wasn’t enough to offset the need for imported oils. Importers, caught off guard by the price rise, had anticipated a dip following recent tariff hikes but ended up needing to stock up to meet Diwali demand. 

Final words

This unexpected hike in cooking oil prices underscores India’s dependence on global oil markets and the vulnerability of domestic prices to international factors. The cost crunch adds pressure to FMCG companies already grappling with rising production expenses, and households may soon feel the pinch as retail prices follow suit.

GLOBAL NAZARA

Britain's mega pension funds set to unlock £80 billion

The UK is creating "mega pension funds" by combining assets from local government and workers' pension schemes. This plan could unlock £80 billion ($104 billion) for investment in infrastructure and businesses, boosting the economy and helping retirement savings. The idea is inspired by similar successful schemes in Australia and Canada.

Adani Group to pump $10 billion into US energy and infrastructure

Adani Group has announced a massive $10 billion investment in the US, targeting energy security and infrastructure projects. The goal? Not just global influence but also to create up to 15,000 jobs. Chairman Gautam Adani took to social media to share the news, emphasizing how this move strengthens India-US ties. 

Adani also took a moment to congratulate Donald Trump on his re-election, calling him the epitome of determination. 

TOP STORIES

Reliance and Disney Complete $8.5 Billion Deal

What Happened

Reliance Industries and Walt Disney India have completed a high-profile merger of their media assets, creating a powerhouse joint venture valued at around ₹70,352 crore (about $8.5 billion). 

This newly minted media behemoth, controlled by Reliance and led by Nita Ambani, aims to redefine entertainment in India, boasting over 100 TV channels and producing 30,000 hours of content annually. Reliance now holds a 16.34% stake, with its subsidiary Viacom18 holding 46.82% and Disney retaining a 36.84% share. 

Why It Matters

This merger boosts Reliance’s hold on India’s media and entertainment sector. With a combined revenue of ₹26,000 crore (approx. $3.1 billion), the JV stands as India’s largest media entity, ready to compete with global players like Netflix and Amazon Prime. 

The partnership also includes three CEOs—Kevin Vaz, Kiran Mani, and Sanjog Gupta—who will oversee entertainment, digital, and sports, respectively. 

Zoom out

This JV, which unites the iconic brands Star, Colors, JioCinema, and Hotstar, aims to transform entertainment access and set new standards in the industry, shaping the future of Indian media for both local and global audiences.

Disney’s global expertise combined with Reliance’s deep understanding of the Indian market promises affordable, extensive content for millions, with 50 million subscribers already across its OTT platforms, JioCinema and Hotstar.

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