Business
Fallout of rupee breaching 90 mark: Get ready to pay higher for consumer goods; here’s what may become costlier – The Times of India
Consumers may soon have to brace for higher prices! The depreciation of the rupee beyond Rs 90 against the US dollar could force various sectors including consumer electronics, beauty products, and automobile manufacturers to increase their prices. This increase may end up eating into the benefits after the recent GST rate cuts. This potential price rise might neutralise the positive sales momentum these sectors saw after recent tax reductions.Companies dependent on imported components or complete imported products are seeing concerns. Several companies had postponed their price increase plans, despite escalating raw material costs, due to potential government oversight following the GST reductions effective September 22.
Rupee hits new low: Will prices rise?
Manufacturers of smartphones, laptops, televisions and major appliances have indicated plans to hike prices by around 3-7% starting December-January, according to an ET report.The price hikes aim to compensate for increased costs of memory chips, copper and additional components resulting from rupee depreciation. The imported materials constitute between 30-70% of manufacturing expenses across these product categories.“The advantages of reduced GST rates will be nullified by currency devaluation and increasing component costs,” said Avneet Singh Marwah, chief executive at Super Plastronics, which manufactures Kodak, Thomson and Blaupunkt TVs.
Currency push
“Memory chip prices have increased more than six times in the past four months. We anticipate demand might decline again after the brief recovery from the GST reduction,” said Marwah according to the ET report.Also Read | Rs 90 to a dollar: What’s driving the fall and why it matters to you – explainedIndustry leaders noted they had calculated costs expecting the rupee to remain at 85-86 against the dollar, but its sharp fall to Rs 90 necessitates new calculations. Several firms had postponed regular price adjustments since October despite rising material costs, wary of being accused of profiteering after GST implementation.Presently, firms have begun notifying retailers about forthcoming price increases. Havells has indicated a 3% increase in LED TV prices, whilst Super Plastronics plans 7-10% higher prices, and Godrej Appliances will raise prices by 5-7% for air-conditioners and refrigerators from January.They indicated that a single-level change in energy efficiency ratings from January will create additional challenges. “The stricter energy rating requirements and weakening rupee necessitate price adjustments from January. Should the rupee weaken further, additional increases may be needed in the March quarter,” said Kamal Nandi, business head at Godrej Appliances. “The GST reduction benefits will be completely negated, but we have no alternative.“Consumer goods manufacturers have privately informed government officials that they cannot continue to absorb rising costs.The rapidly expanding beauty market in India, with international brands like Shiseido, MAC, Bobbi Brown, Clinique and The Body Shop, faces potential challenges due to rising import costs. Furthermore, the GST on cosmetics remains at 18%, with no provisions to offset currency-related cost increases.Also Read | ‘Not losing sleep’: CEA Nageswaran on rupee touching 90 mark versus US dollar; ‘falling rupee is not affecting…’“A weaker rupee does increase our landed cost since a significant share of beauty products across fragrances, cosmetics and skincare are imported and dollar-denominated,” said Biju Kassim, chief executive at Shoppers Stop Beauty. “For distributors like Global SS Beauty, this creates margin pressure that becomes hard to sustain long-term unless partially offset. We work closely with our global brand partners to optimise costs and hedge currency exposure, but some price correction on high-end imported portfolios may eventually be unavoidable.“The declining value of the rupee poses risks to the recent positive trend in vehicle sales, following price reductions implemented by companies on two-wheelers and cars after GST reduction benefits.Mercedes-Benz India’s managing director Santosh Iyer stated, “We estimate the positive effect of the price drop on demand for luxury vehicles to gradually wean away in the mid- to long-term, as prices of luxury cars will rise from current levels owing to deteriorating forex movement. We are mulling a price correction from January 26.”The competitor Audi India is currently evaluating its position in the market.Audi India’s head Balbir Singh Dhillon commented, “The rupee depreciation impacts the company directly and fully, but as of now, the company has not decided on the price increase or its quantum.”The government’s decision to reduce GST on compact automobiles and two-wheelers from 28-31% to 18% resulted in actual price reductions of 8.5-9.9%. This led to increased sales of 17% and 19% in October and November respectively, following a sluggish first half of the financial year. However, the current currency fluctuations might neutralise this surge in demand.
Business
Good News For OCI Cardholders! Now You Can Complete NPS KYC Digitally From Abroad; Documents Required Are…
New Delhi: Good news for Overseas Citizens of India (OCI)! The Pension Fund Regulatory and Development Authority (PFRDA) has updated its KYC rules. This makes the process much simpler for OCIs living abroad. They can now complete their National Pension System (NPS) KYC digitally from anywhere in the world without needing to travel to India. This move removes the earlier requirement of being physically present in the country.
Required Documents for KYC Verification
For OCI cardholders completing NPS KYC, the accepted Proof of Identity (PoI) includes the OCI card along with their foreign passport. For Proof of Address (PoA), the document must clearly show the current overseas address. It can be provided either through the foreign passport or a government-issued driving licence from the country of residence.
Important Guidelines for Document Submission
– All submitted documents such as passport, visa, and OCI card must be valid on the date of onboarding.
– Documents in any foreign language must include a certified English translation.
– Expired documents will not be accepted, unless allowed under the Prevention of Money Laundering (PML) rules.
– Subscribers must ensure that all documents are genuine and accurate.
KYC Update Process for Existing OCI Subscribers
– Existing OCI NPS subscribers can update their KYC records through the overseas branches of their respective banks.
– If there are no changes in the KYC details, a simple self-declaration via email, registered mobile number, or other approved methods is enough.
– Updates can be submitted digitally or through attested documents, making the process easier and more convenient from abroad.
OCI subscribers need to make their NPS contributions through inward remittances using regular banking channels. When it comes to withdrawals, the proceeds are credited to NRO or NRE accounts and can be repatriated in line with FEMA rules. If a subscriber’s status changes from NRI/OCI to resident, they must inform the authorities within three months so their records can be updated accordingly.
Business
IndiGo Share Price Slips 2% In Focus As Massive Flight Disruptions Hit Operations Nationwide
Last Updated:
InterGlobe Aviation Limited faced nationwide IndiGo flight delays and cancellations due to technology issues, congestion, weather, and new crew rostering rules.
IndiGo Plane (Representative Image)
IndiGo Share Price: Shares of InterGlobe Aviation Limited, the parent firm of IndiGo airline, slipped 2 per cent intraday to touch a low at Rs 5,405 apiece today, after the operator faced massive flight delays and cancellations nationwide due to technology issues, airport congestion, and operational requirements.
The disruption has left thousands of passengers stranded at airports. On Wednesday, multiple airports, including Delhi, Mumbai, Hyderabad, Bengaluru, Ahmedabad, reported over 100 flight cancellations till the afternoon.
The scrip was trading at Rs 5,545 apiece, with a fall of 0.88 per cent around 9.40 AM, against the previous day close at Rs 5,595 apiece.
In a statement, the airline acknowledged that its operations had been “significantly disrupted across the network for the past two days” and issued an apology to passengers.
“A multitude of unforeseen operational challenges including minor technology glitches, schedule changes linked to the winter season, adverse weather conditions, increased congestion in the aviation system and the implementation of updated crew rostering rules (Flight Duty Time Limitations) had a negative compounding impact on our operations in a way that was not feasible to be anticipated,” an IndiGo spokesperson said as stated in the statement.
To stabilise operations, the airline said it has begun calibrated adjustments to its flight schedules, a temporary measure expected to remain in place for the next 48 hours. The adjustments, it said, will help restore punctuality and limit further disruptions.
The cascading disruptions also reflect the airline’s recent struggles with punctuality. Government data showed that only 35% of IndiGo flights were on time on December 2, and 49.5% operated on time on December 1.
“Our teams are working around the clock to ease customer discomfort… affected customers are being offered alternate travel arrangements or refunds, as applicable,” the spokesperson added.
IndiGo has urged passengers to check flight status online before heading to the airport, as terminals in several cities remain crowded with stranded travellers seeking rebooking and assistance.
The airline is facing a severe pilot shortage ever since the new flight duty time limitation (FDTL) norms became applicable last month, which lay out more humane rostering for crew.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Click here to add News18 as your preferred news source on Google. December 04, 2025, 08:43 IST
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Russia has blocked access to popular gaming platform Roblox due to concerns over child safety and extremism, including the spread of LGBT-related content.
The country’s media regulator said Roblox had become rife with “inappropriate content that can negatively impact the spiritual and moral development of children”, according to local news outlets.
The multiplayer online platform ranks among the world’s most popular, but has been heavily criticised over its lack of features to protect children.
A spokesperson from Roblox said the company respects the laws where it operates, adding that the platform provides a “positive space” for learning.
“We have a deep commitment to safety and we have a robust set of proactive and preventative safety measures designed to catch and prevent harmful content on our platform,” the spokesperson said in response to the BBC.
Russian media reported that Roskomnadzor, the country’s media regulator, blocked the US platform over concerns about terrorism-related content and information on LGBT issues, which are classified as extremist and banned in Russia.
Such activity is often found in Roblox’s servers, where scenarios simulating terrorist attacks, as well as gambling, have surfaced, the agency is quoted as saying.
Roblox, which ranks among Russia’s most downloaded mobile games in recent years, allows players to create and share their own games – a model that has made regulation challenging.
The Roskomnadzor also flagged reports of sexual harassment of children and the sharing of intimate images on the platform. Other countries have raised similar issues, and the platform is already banned in certain countries, including Turkey, over concerns about child safety.
Roblox also came under scrutiny in Singapore in 2023 after the government there said a self-radicalised teenager had joined ISIS-themed servers on the platform.
Last month, Texas Attorney General Ken Paxton sued the platform over “flagrantly ignoring” safety laws and “deceiving parents” about the dangers it posed to young people.
This month, Roblox announced it would stop allowing children to chat with adult strangers, after longstanding criticism over the platform’s networking feature.
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Good News For OCI Cardholders! Now You Can Complete NPS KYC Digitally From Abroad; Documents Required Are…
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