Tag: Diwali 2020

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Finance Sales Startup

Diwali 2020 Shubh Mahurat: Auspicious Time and Dates to Open New Shop, Office and Factory This Festive Occasion

Shubh Mahurat (Photo Credits: File Photo)

In Hinduism, when we start something new, be it a new business, office, or any new venture, it is to be done on an auspicious occasion or ‘Shubh Mahurat’. The five-day Diwali festival started on November 12 under the shadow of COVID-19. Traditionally, the ‘auspicious time’ by Hindus is being valued since time immemorial as it is believed that starting something during the auspicious time provides many benefits and help the business flourish. It is believed that any business, office, shop or factory that is started at a ‘shubh mahurat’ always open up new business opportunities for the entrepreneur.

If one starts the business at an ‘shubh’ time, the business will become a great success with speedy growth. Let us see when are these auspicious days in November 2020 according to astronomy.

November 12, 2020 (Thursday): Dwadashi Tithi and Hast Nakshatra falls on this day and it is a good time to start a new office.

November 13, 2020 (Friday): Chhatra Nakshatra falls on this day and is the best time to start any new business on the day of Dhantrayodashi.

November 15, 2020 (Sunday): This is an auspicious time which will open up new avenues as Amavasya and Anuradha Nakshatra falls on this day.

November 19, 2020 (Thursday): This is also an auspicious time for setting up and anew business as Panchami Tithi and Uttarashada Nakshatra fall on this day.

Other auspicious dates in November 2020:

Any shop or factory or new office can be inaugurated on November 12 and 13. Both the days are the best date to start a new shop or office.  Amritasiddhi is an auspicious time which is formed by the special combination of war, date and constellations. This shubh time is very auspicious and fruitful. Any work that has starts at this mahurat will reach new height and will proper and flourish in the years to come.

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MSME

MSMEs Show Signs of Recovery, All Eyes Now on Diwali 2020 to Bailout the Stressed Sector

Startup Growth
Startup Growth (Photo Credits: Pixabay)

Mumbai, November 3: The coronavirus pandemic has been extremely difficult on every business, and India’s MSME sector is one of the worst-hit. The sector which has about 70 million enterprises and employs around 110 million people is battered due to the lockdown.

From factories being shut down, and freeze in the production, it is the small companies who are facing the heat of the pandemic. All eyes are now on Diwali 2020, from which they expect the sales to recover and help them to bounce back.

With the ease in the lockdown restrictions and with the economy opening up, business is taking place. According to a Financial Express report, retailers in majority sectors are yet to recover back to the year-ago level, and businesses in consumer durables and electronics seem to be scaling back relatively faster.

Some of these sectors like- sports goods, furniture, jewellery, footwear, food and grocery have still not managed to hit October 2019 level growth, according to the survey done by the Retailers Association of India.

While all hopes are pinned on the Diwali season, but according to reports, the demand continues to be low as people are sceptical of going to shops and making their purchases. On the other hand, customers are extremely careful in terms of spending as well.

 

 

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Business motivation Finance

Gold Price on Dhanteras 2020: Rate of Yellow Metal Up at Rs 50,635 Per 10 gram, Analysts Predict Higher Sales Ahead of Diwali 2020

Gold
Gold (Photo Credits: Pixabay)

Mumbai, November 13: On the auspicious occasion of Dhanteras today, gold price inched higher. On MCX, gold futures edged 0.07 percent higher to Rs 50,635 per 10 gram while silver rates dropped 0.2 percent to Rs 62,615 per kg on Friday.

Gold rates on Friday increased amid fears over the economic fallout from mounting cases of Covid-19 as they overshadowed hopes of a vaccine. Analysts had predicted that due to Dhanteras and Diwali, there might be a rise in sales. Dhanteras is considered as an auspicious occasion to buy gold. Jewellers offer incentives to lure customers to buy gold, silver coins and other ornaments on this day.

Spot gold rose 0.1 percent to $1,877.14 per ounce by 0325 GMT. For the week so far, it is down 3.8 percent. US gold futures gained 0.2 percent to $1,876.

The price of a 10-gram 24-carat gold in Mumbai is Rs 50,770. On the other hand, people in Kolkata will have to spend Rs 53,540 to buy a 10-gram 24-carat gold.

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Startup

Production Linked Incentives Scheme: Govt Approves PLI Scheme For 10 Sectors; Here’s What is PLI Scheme & How it Works

Automobile Industry
Automobile Industry (Photo Credits: Pxfuel)

Mumbai, November 11: Just ahead of Diwali 2020 and amid the coronavirus outbreak, Narendra Modi government announced Diwali bonanza for different sectors in India. The Union Cabinet on Wednesday gave in-principle clearance to Production Linked Incentives (PLI) scheme for ten sectors including white goods, auto, auto components and battery manufacturing wherein sops worth Rs 1.47 lakh crore would be given over the next five years.

According to reports, among sectors, auto components and automobile sectors have received the maximum incentive of Rs 57,000 crore.

The scheme is aimed to give an impetus to India’s manufacturing, by providing subsidies and incentives to sectors which excel in their performance.

What is PLI?

The PLI is part of the government’s plan to make India an attractive manufacturing destination and self-reliant besides helping it emerge as a strong alternative to China. It aims to do this through reduced corporate tax rate of 25 percent, PLI benefits and phased manufacturing plan (PMP).

“The PLI scheme will make Indian manufacturers globally competitive, attract investment and enhance exports,” Union Minister Prakash Javadekar said, following the Cabinet’s decision.

PLI will not only make India self-reliant but will also create more jobs in the country

How will it work?

The Centre will give incentives on additional production and will allow companies to export products made in India. The PLI scheme now offers 4-6 percent incentive to eligible electronic companies on incremental sales (over the base year of 2019-20) of manufactured goods–mobile phones and electronic components such as printed circuit boards, sensors, among others–for a period of five years.

There is no cap on the number of companies that will be eligible for PLI under each category, for now, said FM Sitharaman.

The decision of the Union Cabinet was announced by information and broadcasting minister Prakash Javadekar along with finance minister Nirmala Sitharaman in New Delhi on Wednesday. PLI will thus aid economic recovery while remaining committed to an open and global economy.

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Business motivation

Diwali 2020: 4 Seasonal Business Ideas To Light Up Your Festive Season

We are nearing the season of festivities and its reason enough to celebrate and be in the highest of the spirits! These festivities bring a smile on the face of every Indian but as well as provide opportunities for entrepreneurs to think of business ideas that not only help them display their skills but also help them get back on their feet. One such festival is Diwali that is next in line to be celebrated. There are tremendous seasonal business ideas that can be explored or discovered as it is undoubtedly one of the biggest festivals celebrated in our country. 

People from all social classes wait an entire year to make all of their special purchases, big or small, on this auspicious occasion. These purchases can vary from something as small as crackers to something as big as valuables like gold or silver. The idea of this article is to introduce you to 4 business ideas that can help you make good money this festive season.

Make Sweets, Spread Happiness

Festivals without sweets are like an empty box of candies–very disappointing. Sweets are integral and the most celebrated part of any and every festival in India. In these unprecedented times of social distancing, people are looking forward to exchanging boxes of sweets to celebrate the joyous occasion. If you trust your culinary skills and enjoy making lip-smacking colorful sweets, this is the business for you to get in!

Deck It Up With Decoratives

These are the times of COVID-19 and we, being the responsible citizens that we are, are fully aware of our responsibilities to maintain the social distance. However, this pandemic can not distance us anyhow from decking up our houses with beautiful lights, Diyas, candles, and various forms of decoratives. If the artisan in you is excited at the mere thought of starting this business, just imagine the amount of joy it’s going to bring into your life once you start doing it.

Make Rangoli With The Colours Of Joy

Celebrations feel incomplete without our very own Rangolis. A rangoli is mostly designed at the entrance of the house to welcome the visitors as well as the goddess Lakshmi herself. A rangoli not only makes our celebrations more colorful and auspicious but also is said to bring good luck. However, it is not possible for many to spare time to make these colorful patterns, hence they opt for a ready-made rangoli. If you are someone who has an eye for detail and a love for art, this could prove to be a great option for you to make the most of these seasonal festivities.

Those Dry Fruits Are Never Going Out Of Business

We have been exchanging sweets, gifts, and dry fruits every Diwali for ages now! This is the time to make the most of this tradition and get into the business of selling dry fruits. To make the boxes of dry fruits more presentable and visually appealing, you can try various different ways to pack them creatively. People these days are very much into making customized sweet as well as dry fruit boxes. You can unleash your creative side and make the packaging as aesthetically pleasing as possible so that it also qualifies as a gift to be exchanged on this joyous occasion.

These are just a few options picked from the pool of other viable options out there that can help you entrepreneurs set up a seasonal business of your own and network well to continue working on it the next season. These business opportunities are a wonderful way to make good money doing what you love doing the most. We hope this festive season brings you as much joy and positivity as you intend to spread in the lives of people you are going to touch with the amazing skills you possess.