India’s retail sector has attracted over $3.3 billion in investments from NRIs, companies, and public members in recent times, as India presents significant opportunities due to its population size and growth rate. Big-box stores such as Walmart, Carrefour, and Tesco are eyeing India, but these would involve large investments and at a gradual pace.
Updates on Future Retail
As the retail sector becomes increasingly competitive, supermarkets are looking for new ways to keep their customers happy and coming back. One way to do this is by providing them with a convenient shopping experience. This is where the future of supermarkets comes in. With the help of technology, supermarkets will offer an even better customer experience and compete with other retailers. On June 28, 2018, Future Retail Ltd announced that it would offer discounts and increase promotional activity across all its businesses to drive sales. Sales have been sluggish due to the implementation of Goods and Services Tax (GST), negatively impacting consumer sentiment. The company operates 554 retail stores as of June quarter FY19, including Big Bazaar Supermarkets, HeritageCo department stores, Central departmental stores, Nilgiris hypermarket chain, WION retail fashion brand shop chain, and HomeTown hypermarkets.
However, Future Retail is currently intertwined in a legal encounter with Amazon over an alleged dispute of the shareholder agreement. Over a year, it has been postponed, and the Rs. 24,713 crore deal execution to sell most of the parts of the business to Reliance Industries-associated companies.
Updates on Jet Airways
Jet Airways has a fleet of more than 130 aircraft, including Airbus A320s and Boeing 737-800s. Like any other airline company, Jet Airways also offers numerous services to its customers, such as ticketing, baggage check-in, airport lounges, etc. Jet Airways is one of India’s largest airlines by market share, with a 32% share in domestic air traffic. The company offers competitive fares on its flights and is focused on providing high customer service standards at all times. Jet Airways has not had an excellent year. On January 18th, news broke that the airline filed for bankruptcy in India, and it needs ₹145 billion USD 2.1 billion to stay afloat. They reported a ₹8.3 billion ($109.1M) loss a month later. Even before that, their share prices dropped by 90%. Amid all of this, there is the trouble of Jet’s Pilot Union demanding a pay hike which the government has subsidized with the additional financial aid provided through terms of LTC.
Updates on Adani Enterprises
The Adani Group is the largest coal mining company in India, and they have also been moving into renewable energy. Initially, the group’s plans for financing a coal mine were to fund it by borrowing from banks. But the Indian government refused this, as they wanted a more sustainable future. This caused shares in Adani Enterprises to immediately plummet on Monday morning after profits missed analyst expectations. The firm reported a 99.4% decline in consolidated profit to Rs. 1.80 crore for the quarter ended December 31, 2021. The company posted a consolidated profit of Rs. 343.17 crore in the corresponding fiscal quarter.
The future of retail has a lot of potential and with the proper foresight, you can be prepared for the new opportunities that will arise. Jet Airways Industries is looking to improve its passenger experience by 2022. On the other hand, Adani Enterprises is focused on sustainability as they attempt to minimize their carbon emissions while developing new sources of renewable energy.
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