What is it? The estimated number of Pharmacy stores that closed their operations for a day protesting against online sale of drugs.
Why is it important? The All India Organization of Chemists and Druggists (AIOCD),which represents the offline pharmacy stores, claims their business is affected 50% since online sales of drugs. Snapdeal.com, Zigy and 1mg are among the several startups backed by investors like Intel Capital, Omidyar Network, and Sequoia Capital that sell drugs online.
Tell me more: The protests by AIOCD is a broad reflection of conflict between brick and mortar retailers and online portals. Last week, a traders body complained to the Commerce Ministry that online retailers like Flipkart, Snapdeal, and Amazon India are violating India’s foreign investment rules.
What is it? Price cut on soaps and detergents sold by Hindustan Unilever Ltd (HUL), India’s largest fast moving consumer goods firm, to boost sales in three months ended September 2015.
Why is it important? HUL’s sales is a proxy of consumer demand, especially in rural market because of its extensive network. Price deflation because of poor rural demand and lower commodity prices is a validation of the Reserve Bank of India’s outlook that inflation has moderated.
Tell me more: Soaps and detergents account for nearly half of HUL’s revenue of Rs 30,791 crore. This is a better reflector of rural demand compared to personal products or beverages.
Rs 249 crore
What is it? The amount Corporate India donated to Swachh Bharat Kosh, a fund created to get contributions from individuals and companies, towards government’s pet project, ‘Swachh Bharat’ (Clean India).
Why is it important? Swachh Bharat had set an ambitious target of building 25 lakh individual toilets in urban areas, and achieve 100% collection of solid waste in 1,000 cities and towns in current fiscal. In the first year, this report says, only 25% of targets were met in urban areas.
Tell me more: Larsen & Toubro, a conglomerate with interests in engineering, construction and financial services, donated the maximum with Rs 60 crore.
What is it? Wholesale inflation of pulses in September this year, as consecutive deficit monsoon rain has hit domestic production.
Why is it important? Pulses is a major source of protein for Indians. India consumes 22 million tonnes of pulses annually, and domestic output is not enough to meet the demand. A further fall in production will mean increased prices.
Tell me more: A fall in domestic production of pulses is a boon for Canadian farmers, who are getting 50% more prices for their red lentils and yellow peas.
What is it? The duration for which Nissan will be the global partner to cricket’s governing body. The Japanese car manufacturer will sponsor all multilateral events of the International Cricket Council, including the 2019 World Cup. The deal size was not announced.
Why is it important? While it has sponsored other sporting events, this is the first time Nissan, which is owned by French company Renault, is padding up for cricket. It’s part of its international push, especially India, where it started selling in 2010 and has managed a market share of 2% so far. It is now targeting 5% by 2020.
Tell me more: The previous global partner of ICC was South Korea’s Hyundai, one of the three global car manufacturers whose India ride has not been bumpy.