Morning News from India - July 12, 2018 Tweet12 Jul 2018
- Sensex Ends At Record High Led By RIL; Mid, Small Caps Decline (Bloomberg Quint)
- India Tried Rates, Reserves to Stem Rupee Fall. What Next? (Bloomberg)
With the current-account deficit set to widen, thanks to higher oil prices and outflows from stocks and bonds, the rupee could be in for some more weakness after it plunged to a record 69.0925 against the dollar last month.
- Digital Renaissance And Mukesh Ambani’s Reliance (Bloomberg Quint)
He has, in a short span of two years and considerable capex of $40 billion and counting, built the first large telecom company which has built an all-IP network from the ground up, while all his peers in India and the world have updated existing infrastructure.
In the U.S., per capita spend on media and entertainment is $2,000, and China’s is $500. No wonder, in spite of India producing about 200 films annually, our box office is a mere $2.5 billion. Similarly, though we have over 800 TV channels, the average cable and satellite subscription is only $36 per annum. The global average on leisure spending is over 2 percent of GDP while we are less than 1 percent. Even our telecom average revenue per user is among the lowest in emerging markets. What everyone is hoping is, that rising incomes will increase these amounts substantially; as people start spending more on these services. That is why global players are eyeing the next big market after China-India. Mukesh Ambani seems confident that he will do in the digital space what he did in petrochemicals and refining. It’s a tough ask.
- Walmart’s Blueprint for Taking Over India (Motely Fool)
Walmart has been promoting small, family-owned grocery stores in India for a long time now through its “Mera Kirana” (Kirana is a mom-and-pop store in the Indian parlance). Under this program, Walmart’s Best Price stores showcase a model mom-and-pop store for families to replicate. The company also sends out teams to such stores to help them organize their inventory and improve product assortment and placement.
- ‘Ghoul,’ Netflix’s First Horror Series From India, Will Give You Serious Chills (Huffington Post)
- India says ‘yes’ to net neutrality (Next Web)
- Chinese Investments in Indian startups (Factor Daily)
- RIL Enters $100-Billion Club After A Decade (Bloomberg Quint)
- Infosys Q1 earnings on Friday; here’s what to expect (Economic Times) - INFY