Editor's Letter: A Challenging Summer
This issue of BW Businessworld explores the consequences of India’s harshest and busiest summer, examining the impact it has had on businesses and consumers alike
According to the Indian Meteorological Department, this was our second warmest year in 122 years. Agricultural productivity and animal husbandry have borne the brunt of the relentless heat and the monsoon brings some relief. This issue of BW Businessworld explores the consequences of India’s harshest and busiest summer, examining the impact it has had on businesses and consumers alike.
The high temperatures did see certain sectors such as consumer durables, FMCG, retail, quick commerce and power, achieve remarkable growth, breaking records effortlessly. We delved into these sectors and spoke to industry leaders who spent the last few months meeting high summer demands. B. Thiagarajan of Bluestar, K. J. Jawa of Daikin, Panasonic Life Solutions India’s Manish Sharma and Pradeep Bakshi of Voltas share insights on their businesses and also on how the industry was impacted by the summer sales wave.
With the general elections now behind us, attention turns to the newly elected Union government's budget for the 2024-25 fiscal. India Inc. eagerly awaits growth-oriented policies, tax reliefs and sector-specific remedies. A significant reduction in income tax is top on the wish list, aimed at increasing disposable income and boosting consumer spending. Also, a substantial surge in the government’s capital expenditure on infrastructure, healthcare, and education is anticipated to drive job creation and productivity, laying the foundation for sustainable economic growth. Addressing food inflation through supply chain efficiencies and farmer subsidies is critical and remains an expectation.
In this edition, we also bring you insights from the Cannes Lions International Festival of Creativity. This special package includes festival highlights, India’s performance and key lessons for the advertising industry. A standout takeaway is the call to bring fun back into advertising. While purpose-led work remains crucial, there is certainly room for enjoyment and creativity in the industry.
Beyond the heatwaves and economic policies, this issue also covers various facets of our evolving business landscape. We hope it provides valuable perspectives and insights as we navigate through this exceptionally challenging summer.
Happy Reading!
