ITV

Tag: Gaurav Gupta

  • Delhi HC notice to Goswami, asks for avoiding rhetoric in Tharoor-Sunanda story

    NEW DELHI: Even as it asked him to avoid rhetoric in his reports, the Delhi High Court today issued notice to Republic TV and Arnab Goswami over the Congress leader Shashi Tharoor’s defamation plea.

    Fixing the next date of hearing to 16 August, Justice Manmohan observed: “Bring down the rhetoric. You can put out your story. You can put out the facts. You cannot call him names. That is uncalled for.”

    Lok Sabha MP Tharoor had filed a civil defamation suit late last week against Goswami and the TV channel, seeking damages and compensation of Rs 20 million for allegedly making defamatory remarks against him during a news broadcast related to the death of his wife Sunanda Pushkar.

    The lawsuit filed through advocates Muhammad Ali Khan and Gaurav Gupta claimed that the recordings were released in a sensational manner and created a ‘non-existing controversy’ by maligning Tharoor’s public life and image.

    The petition said, “It is not out of place to say that Goswami and the TV channel broadcast news reports and ‘alleged expose’ which were intended to lead the viewers to believe that the deceased was murdered either by Tharoor or at his instance. Such a broadcast ‘clearly has the potential of adversely impacting the ongoing investigation into the death of the deceased’,” the plea said.

    Tharoor said Goswami had earlier aired similar news when he was the editor-in-chief with another TV news channel (Times Now), which was restrained by the National Broadcasting Standards Authority.

    The Congress MP also said the police was investigating the matter and had also registered an FIR. “It is pertinent to mention that the Delhi Police took statements from a number of people, including him,” the suit said. It also stated that during the probe not a single allegation has been made by the investigating authorities against the MP.

  • Luxury goods market in India on a lower growth curve

    Luxury goods market in India on a lower growth curve

    MUMBAI: As the global economy recovers, the luxury industry is growing accordingly. Not unexpectedly, growth is disproportionately focused on the Asia Pacific region.

     

    In 2012, India had the fastest growing luxury markets in the region. The country grew much faster than China, but lost steam due a lack of sustenance of the growth, which once made the country an attractive market. Today, the Indian luxury goods market appears to be on a lower growth trajectory as pointed out in the Deloitte Touche Tohmatsu (DTTL) first annual report on ‘Global Powers of Luxury Goods’.

     

    “The entire luxury goods market in India has seen a significant dip in the growth rate and is likely to see a couple of more turbulent years. However, the long term outlook remains positive and India’s luxury market is expected to rise with a strong performance. To supplement this long term growth trajectory, holistic implementation of new reforms and initiatives by stakeholders and regulators would only facilitate the vision” said Deloitte senior director Gaurav Gupta.

     

    The report says that the very rapid growth of recent years have created a bottle neck leading to inflation this has caused the central bank to tighten its monetary policy to control inflation and stabilise the currency; hence, further slowing the booming market. From the regulatory side, there was not much of a focus to implement reforms that could boost productivity, unleash, more investment and induce a faster growth rate in the sector.

     

    ‘Global Powers of Luxury Goods’ highlight the fact that along with Indian markets, many emerging markets like China, Brazil and Russia have seen deceleration of growth in the past year. This follows a period of rapid growth that was driven by several factors. Going forward, the emerging world is likely to have a year or two of disappointing growth while imbalances are unwound. However the long term view remains positive.

     

    In the last five years the expanding global middle class in the emerging markets has supported growth in the luxury sector and is continuing to grow through 2018. According to Euromonitor the emerging markets like Asia Pacific, Latin America, Middle East and Africa combined together accounted to 9 per cent of the luxury market in 2008 these figures spiked to 19 per cent in 2013 and is expected to leap up to 25 per cent in 2025.

     

    The developed economies like US and Europe benefits from the emerging markets. Over the 2012 to 2017 Euromonitor projects China to lead the tourist expenditure growth followed by India and the other emerging Asian countries. The appetite for American and European brands in the underpenetrated markets is strong and growing many luxury companies to expand its international presence hence creating opportunities in emerging markets like India.

     

    The world’s 75 largest luxury goods company generates total goods sales of $171.8 billion. Three of the top ten companies are conglomerates.