Economy

India could be the world’s third-largest economy in the next decade, and the mutual fund industry may be a significant recipient of this transformation. The mutual fund industry is worth Rs 38 Lakh crore (US$ 510 billion) of asset under management. The largest AMC is a vintage Indian name in the Mutual Fund industry. The rise of this vintage name was inspirational as they explored the Branch Networking concept to its fullest and reaped the benefits of the same.

Ather Energy has commissioned its second manufacturing facility in Hosur to satisfy to the growing demand of its electric scooters, the 450X and 450 Plus, the firm stated in a statement. The company plans to manufacture 400,000 units per annum, a significant jump from its current capacity of 120,000 units. Ather Energy had set up its first manufacturing facility at Hosur prior this year. With this capacity expansion, Ather is on its path to becoming the country’s largest EV producer by next year, it stated in a statement.

The gross GST Collection in FY 2021-22 post COVID-19 pandemic outbreak are showing an increasing trend. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in written reply to a question in Lok Sabha on Mondy.

The Production-Linked Incentive (PLI) Scheme for drones and drone components has been notified on 30 Sep 2021 to push the production of drones.

Indian public technology companies revenues increased 4.5% sequentially and 17.8% annually, with digital and cloud remaining the major drivers, according to National Association of Software and Services Companies (Nasscom) “Quarterly Industry Review”. It included that companies expect to grow in double digits going forward.

India may have 228 million native social commerce shoppers by the tip of 2022, a 45% rise from the present consumer base, as consumers discover newer ways of shopping for items online through social media apps such as YouTube, WhatsApp, FB and Instagram, according to a report by Recogn.