WHAT TV SALES SHOW
Article Abstract:
According to reports, sales of household appliances such as televisions, refrigerators and cooling systems have risen 15 percent to 20 percent during January to September 1998 as compared to January to September 1997. Television prices fell 20 percent to 25 percent while sales increased 45 percent to 50 percent. Godrej, the long time market leader in refrigerators had only a 10 percent growth but new entrant Whirlpool made good sales. Consumer durables are accorded only a five percent weightage in the index of industrial production. Therefore, this spurt in household goods does not really imply an industrial recovery. Rather it enhances the fact that the average Indian has money to spend and is willing to spend in order to enhance his quality of life. The reason for a dull industrial scenario is not lack of demand but anti-competitive barriers in property, labour, capital and governmental infrastructure. The means for an industrial turnaround can only be less of governmental legislation and free entry of Indian and foreign companies, healthy competition and more liberalisation. These views were expressed in the editorial. (nr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CALL CLOSES IN BELOW-NINE RANGE
Article Abstract:
The call money rates were ruling at 8.75 percent to 8.90 percent in the interbank call money market on February 22, 1999. During the day, the call rates opened at a high 9.25 percent and softened to 9.10 percent levels following a good supply of funds in the market. The call rates finally closed below the nine range post clearing. During the day, the Reserve Bank of India raised Rs2,000 crore through its eight percent repos. (ag)(m)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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