Discover more from 1947 Tech Newsletter 🇮🇳
1947 Rise ☀️: 215
1. India will overtake US as Unilever’s ‘largest business’, says Hindustan chief
Hindustan Unilever’s chief executive said he believes India, the consumer group’s biggest market by volume, will overtake the US to become the largest by value.
“I clearly see a day when HUL will become the largest Unilever business,” said Sanjiv Mehta, adding that he could not give a timeframe. The Indian subsidiary currently accounts for about 10.7 per cent of Unilever group sales, according to company data, and is one of its best-performing units.
Unilever’s portfolio is tilted towards emerging markets, with only the US exceeding the Indian market as a percentage of sales revenue. Together with China, the US and India have been earmarked by Unilever as critical markets for growth.
India will overtake US as Unilever’s ‘largest business’, says Hindustan chief
2. After iPhones, Apple to shift production of AirPods, Beats headphone to India
The manufacturing industry is also making moves in India.
Apple Inc has asked its suppliers to move some AirPods and Beats headphone production to India for the first time, the Nikkei newspaper reported on Wednesday.
The development comes amid Apple ramping up its iPhone manufacturing in India. On Tuesday, Bloomberg reported that Apple Inc.’s iPhone exports from India crossed $1 billion in the five months since April, signaling the South Asian nation is making progress with its bid to become a force in electronics manufacturing.
After iPhones, Apple to shift production of AirPods, Beats headphone to India
Worth your attention:
PharmEasy prepares Rs 750 crore funding through convertible notes Link
GIC leads $60-million funding in EV startup Euler Motors Link
Transaction declined: why Prosus scrapped the $4.7 billion PayU-BillDesk deal Link
Saveo raises $4.5 million in funding at $50 million valuation Link
India saw 20.5 bn online transactions worth Rs 36 trillion in Q2 Link
Farm-to-consumer startup Deep Rooted raises $12.5 million in funding led by IvyCap Link
FS Life raises Rs 50 crore in pre-series B funding Link
Zerodha’s Nikhil Kamath tops Hurun’s self-made rich list 2022 Link