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Recession has taught people to save & spend on essential items
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There
has been an upward rise in the spending power of people as compared
to the last year. But it has not yet come back to a normal or a lavish
level. People have learnt to save with the recession. They are spending
on things that will give them joy and not burn a hole in their pockets.
The
rise in the Sensex does not affect everyone directly but it does influence
their purchasing power. When the Sensex goes up, people are happy even
if it does not benefit them.This is a good time for online businesses
because customers are logging on to the websites and purchasing online.
This month's statistics show an increase in online shopping.
—Hussain
Haideri,
CEO
SHOPPINGLANES.COM
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Indian market is soon going to see some good days
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I
ndia is the world's largest
consumer of gold, valued as an investment and saving in the form of
jewellery. The gold market in India is inter-connected with the London
market, which is the biggest clearing house.
With
the recognition from the Government of India, the Multi Commodity Exchange
(MCX) of India in Mumbai facilitates the gold market in online trading
and other operations across the nation. The gold price in the market
has reached an all-time high due to the MCX exchange set-up. Remove
the MCX body and the gold price will come down to Rs
ll.000.
In
India, Gudi Padwa, Dassera, Diwali and Akshaya Tri-tiya are four auspicious
festivals when people buy gold, which we as retailers look forward.
If you look at the history of gold in India, the price of gold has
never come down drastically. The share market operates on a national
level while the gold market operates on an international level. Indian
market is soon going to see some good days.
—Fatehchand
Ranka, owner, ranka jewellers
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Indians believe in a product's value & have high saving sense
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S
ensex is not on a bull
run at the moment but it does play a big role in changing the mindset
of people. A rise is the Sensex may not be beneficial for everyone.
But when it does rise, people rejoice.
Indians
show their buying profipiency only when they get a good deal. When I
wanted to buy shoes, I went to a mall which was offering a 30% to 50%
discount. When I tried to enter the mall, I found it packed. This fact
proves that Indians believe in the value of a product and have high
saving sense. When one finds a valuable product, one goes and buys it
without bothering about one's financial capacity If it fits one's budget
and is a good deal one ends up buying it. This tendency is seen in
all Indians.
These
days, many shops are offering discounts and people are buying a lot.
If the offer is good, people buy but if the sale is bogus, where you
just say there is a discount and don't offer any, then people are smart
enough not to buy. The same applies in business. If you give a value
deal to people, then they buy Sensex affects buying only if there is
a mass participation of people and the sales double. It is because the
spending power of people increases.
—N
Chandramouli, ceo, bluelotus
communications
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The education sector is on the threshold of a big boom
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T
he education sector was
not much affected by the recent economic slowdown as compared to the
other sectors.
As
we are into vocational courses, our students are from the IT and engineering
sectors. They were going through recession so there was a slight drop
in the enrolment. With the Sensex showing signs of recovery and the
festivities around the corner, people have started buying and the cash
flow in the market has increased.
When
we entered the market during the onset of the recession, we had a tough
time keeping ourselves steady. The market slowdown is still there but
it is on the path of recovery The education sector is on the threshold
of a big boom in the near future.
—Kedar
Nigavekar, md, seamedu
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Sensex
has nothing to do with people's
purchasing power
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People are still not investing in mutual funds or stocks
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The rise in the share market is an indication of recovery
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P
eople are purchasing
more this year compared to the last year. My diamond business is doing
almost 30% better than the last year. There are many people who are
buying more diamonds and diamond jewellery I do not think that the Sensex
has anything to do with people's buying power. If people have less money,
they will buy less. If they have more money, they will invest more
in gold or diamonds. The amount of money decides one's ability to buy
and Sensex has nothing to do with it. People buy during the festive
season. If you have money nothing can stop you from buying. Many people
are out this year to buy, the scene is much better than last year.
—Kaushik
Jain, director unigem fine
jewellery.
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P
eople are confused about
where to invest their money. This season, there is no slowdown in the
market. But I observe that people are happy putting their money in
fixed deposits or buying gold. They are still not
investing in mutual funds or stocks. There are not many retail
investors in the market. But the fact that the market is rising means
that larger investors are playing big. We cannot expect the retail
investor to invest in shares as he is still confused. —Janak
Shah, investment
consultant
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I
manufacture
steel tubes for various companies including
those in the automotive sector. Capital expenditure of manufacturing
companies has increased. The overall steel
consumption and the prices of steel have gone
up.
Things
are getting back to normal not because of the festival season but the
situation has been improving for the past four months. The automotive
sector has picked up with increase in sales of vehicles especially the
two-wheelers and the four-wheelers. We are on a positive and sustainable
recovery path with a firm footing. The increase in the share market
trade is also an indication of recovery towards a bright future.
—Neeraj
Shah, entrepreneur
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