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Demand for crackers down 32 pc: Report

[email protected] (PTI)
November 11, 2012
Crackers

Kolkata, November 11: Amid increasing concerns over noise and air pollution, this year, the demand for crackers and fireworks have decreased by 32 per cent, according to a report.

"Celebrations this year may be cleaner, greener and noise-free as the year-on-year (y-o-y) searches for fireworks and firecrackers saw the biggest decline at 32 per cent," a a report by e-commerce platform for small businesses, Alibaba.com.

The report was collated from analytics data of the website from October 2011 through 2012.

Stating that Indian consumers are becoming more conscious environmentally, Alibaba.com India Country Manager Khalid Isar told PTI, "Having witnessed global searches and enquiries, we believe that this is a mirror of global trends. As environmental concerns grow, Indians too seem to be taking steps in the right direction."

On other reasons behind the decline in demand of firecrackers, he said, "There have always been concerns over safety. Further, with the global economic slowdown, it is a possibility that consumers may be reluctant to spend extravagantly on firecrackers".

Over the last couple of years, there has been a gradual shift for eco-friendly celebrations. Right from using recyclable, biodegradable materials to create Ganesh statues or using eco-friendly colours during Holi, Indians have been increasingly looking at environmentally friendly ways to celebrate.

According to some market reports there has been an increased influx of eco-friendly crackers this Diwali.

The Alibaba.com report added that during the festive season India has emerged as the second largest supplier market after China and fifth largest buyer market worldwide for Diwali related products.

Traditional buyer markets such as the US and the UK led the overall demand for these products at the B2B portal. The US is the top buyer market for Indian suppliers constituting 23 per cent of inquiries, it said.

Indian manufacturers also supply locally with the country being the second biggest buyer market with 17 per cent, followed by the UK at 8 per cent of inquiries. Other buyer markets of Indian Diwali related products include Australia, Canada and France.

According to the report, searches for ethnic clothing on Alibaba.com went up by 21 per cent in the last 12 months.


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Agencies
May 4,2020

Mumbai, May 4: Days after Facebook, private equity firm Silver Lake said it will invest 56.56 billion rupees ($746.74 million) in Reliance Industries's digital arm, giving it a valuation of 4.90 trillion rupees. Silver Lake on Monday agreed to pay Rs 5,655.75 crore to buy 1.15 per cent stake in the firm that houses billionaire Mukesh Ambani's telecom arm Jio.

The investment in Jio Platforms comes within days of Facebook investing USD 5.7 billion to buy a 9.99 per cent stake in Jio Platforms. The investment is at a premium of 12.5 per cent to the Facebook deal.

"This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020," Reliance said in a statement.

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Agencies
February 11,2020

New Delhi, Feb 11: AAP chief and Delhi Chief Minister Arvind Kejriwal has won from New Delhi assembly seat. He polled 46,758 votes, which is 61.1 per cent of total votes polled in the high profile constituency.

Kejriwal defeated Sunil Kumar Yadav of the Bharatiya Janata Party (BJP), who polled 25,061 votes, which is 32.75 per cent of total votes polled. Congress candidate Romesh Sabhawarl could get only 3,220 votes.

So far, the AAP has won 55 seats and is leading on seven seats. The BJP has won seven seats and is leading on two. The Congress is nowhere in the reckoning.

As per the details on the website of Election Commission of India at 8.27 pm on Tuesday, the AAP has secured 53.60 per cent votes, BJP 38.49 per cent, BSP 0.71 per cent, CPI 0.02 per cent, CPI-M 0.01 per cent, Congress 4.27 per cent, JDU 0.90 per cent, LJP 0.35 per cent, NCP 0.02 per cent, and NOTA 0.46 per cent.

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News Network
February 18,2020

New Delhi, Feb 18: India emerged as the world's fifth-largest economy by overtaking the UK and France in 2019, says a report.

A US-based think tank World Population Review in its report said that India is developing into an open-market economy from its previous autarkic policies.

"India's economy is the fifth-largest in the world with a GDP of $2.94 trillion, overtaking the UK and France in 2019 to take the fifth spot," it said.

The size of the UK economy is $2.83 trillion and that of France is $2.71 trillion.

The report further said that in purchasing power parity (PPP) terms, India's GDP (PPP) is $10.51 trillion, exceeding that of Japan and Germany. Due to India's high population, India's GDP per capita is $2,170 (for comparison, the US is $62,794).

India's real GDP growth, however, it said is expected to weaken for the third straight year from 7.5 per cent to 5 per cent.

The report observed that India's economic liberalisation began in the early 1990s and included industrial deregulation, reduced control on foreign trade and investment, and privatisation of state-owned enterprises.

"These measures have helped India accelerate economic growth," it said.

India's service sector is the fast-growing sector in the world accounting for 60 per cent of the economy and 28 per of employment, the report said, adding that manufacturing and agriculture are two other significant sectors of the economy.

The US-based World Population Review is an independent organisation without any political affiliations.

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