ICRA Business Activity Monitor report for March 2025

This report highlights a significant moderation in year-on-year (YoY) economic activity, with the index registering a 35-month low of 5.6% in February 2025, down from 9.4% in January 2025. This slowdown is attributed to weaker YoY growth across a majority of the constituent indicators, partially influenced by the base effect related to the leap year in 2024.

Key findings of the report include:

The year-on-year (YoY) growth in economic activity, as measured by the ICRA Business Activity Monitor – an Index of high frequency indicators, moderated sharply to a 35-month low of 5.6% in February 2025 from 9.4% in January 2025, amid weaker YoY growth performance across 10 of the 15 constituent indicators, partly reflecting the base effect related to the leap year in 2024. The average YoY growth in January-February FY2025 stands at 7.5%, lower than the 8.8% growth seen during Q3 FY2025. The early trends for March 2025 are mixed, amid an uptick in the growth in electricity generation and a deterioration in the growth performance of average daily vehicle registrations.

  • YoY growth of ICRA Business Activity Monitor moderated to 5.6% in February 2025: After witnessing a robust performance in January 2025, the YoY growth in economic activity slowed in February 2025. The ICRA Business Activity Monitor rose by 5.6% in the month, the slowest pace in 35 months, although this was partly led by the unfavourable base effect owing to the leap year in 2024. There was a deterioration in the YoY growth for as many as 10 of the 15 constituent indicators in February 2025 vis-à-vis January 2025, including most automobile and mobility/transport-related indicators and non-oil exports. With this, the average growth in January-February FY2025 stands at 7.5%, trailing the growth of 8.8% seen during Q3 FY2025.
  • MoM contraction in the index widened in February 2025 vs. February 2024: The index declined by 5.0% on a sequential basis in February 2025 as against the 1.7% fall seen in February 2024, partly on account of higher number of days in the latter month, with 2024 being a leap year. As many as eight of the 13 non-financial indicators witnessed a deterioration in their MoM performance in February 2025 vis-à-vis February 2024, with a particularly weaker performance in vehicle registrations, motorcycle production, non-oil exports, and GST e-way bills.
  • Data for early-March 2025 is mixed: The average daily vehicle registrations stood at 49.9k units during March 1-18, 2025, ~20% lower on a MoM basis and ~27% lower on a YoY basis. In contrast, the YoY growth in electricity demand surged to an eight-month high of 6.7% during March 1-17, 2025 from 2.9% in February 2025, aided by above-normal temperatures and a greater number of heatwave days in the month

ICRA Business Activity Monitor is a composite indicator that comprises:

  • Auto production (2Ws and PVs)
  • Vehicle registrations ▪ Output of Coal India Limited (CIL)
  • Power generation
  • Non-oil merchandise exports
  • Cargo handled at major ports
  • Consumption of petrol and diesel

Finished steel consumption

  • Generation of GST e-way bills
  • Domestic airline passenger traffic
  • Aggregate deposits and non-food credit of SCB

Wealth Creation Week is Back! Zee Business to Guide Investors on Winning Strategies from March 18-28

March 20, 2025:Zee Business, India’s leading Business News Channel, is thrilled to announce the return of Wealth Creation Week—a highly anticipated programming initiative dedicated to equipping investors with expert insights, strategic market intelligence, and wealth-building opportunities. Airing from 18th March to 28th March, this special series goes beyond conventional financial discourse—it’s a movement that has shaped the investment journeys of millions over the years.

First launched in 2020 amid the challenges of the COVID-19 era, Wealth Creation Week proved to be a trusted source of financial guidance, helping investors navigate turbulent markets with confidence. Over the years, it has become a vital knowledge hub for individuals committed to making informed investment decisions. This year, the legacy continues, delivering actionable insights and expert strategies to empower investors in securing long-term financial stability and success.

The 2025 edition of Wealth Creation Week features a dynamic line-up of expert-led programs tailored for both beginners and experienced investors. Starting from March 18th, Wealth Creation Pick will air daily at 9:00 AM & 9:25 AM, offering top stock recommendations to maximize returns. At 9:40 AM, Wealth Creator Research will provide in-depth market analysis and high-impact investment strategies. Additionally, special episodes of Wealth Creator से मिलिए will highlight inspiring success stories of industry leaders, offering valuable insights and motivation for investors at every stage of their journey.

Mr. Anil Singhvi, Managing Editor of Zee Business, emphasized the significance of this show series, stating, “At Zee Business, our mission is to arm investors with the right knowledge and tools to achieve financial independence. Wealth Creation Week is not just about picking stocks—it’s about shaping financial destinies. When investors make informed decisions, their wealth grows, and so does the economy.”

Adding to this, Mr. Karan Abhishek Singh, CEO of Zee Media Corporation Limited (ZMCL), highlighted the broader impact of the initiative: “Financial literacy is the cornerstone of wealth creation, and Zee Business has always been committed to empowering citizens with credible financial insights. Wealth Creation Week is designed to inspire, educate, and guide individuals toward financial prosperity, ensuring they achieve their goals with clarity and confidence.”

Beyond its role as an informative series, Wealth Creation Week is a catalyst for financial empowerment—breaking down complex market trends into actionable insights. Whether one is a first-time investor or a seasoned trader, this initiative ensures that every viewer gains the knowledge and confidence to navigate the financial landscape successfully.

Zee Media Corporation Ltd, one of India’s leading media companies, has a strong presence in the news and regional genres, with 21 News channels, reaching more than 555+ million viewers in current year through its linear properties.

Classic Meets Contemporary: The Great Eastern Home Unveils Its French Collection

March 20, 2025:Transport yourself to an era of grace and grandeur with The Great Eastern Home’s French Collection. Crafted to echo the essence of historic French design, this collection infuses interiors with a regal charm, seamlessly blending classic artistry with enduring elegance.

The Great Eastern Home offers a breathtaking selection of French-inspired furniture and décor, each piece a testament to the legacy of master artisans. From intricately carved chairs and dining sets to ornate cabinets that exude charm, the collection celebrates the beauty of traditional craftsmanship. Elegant vases and lamps add a touch of luminous sophistication, while stately beds and mirrors transport you to the grand salons of France’s aristocratic past. Every item in this collection, from its delicate embellishments to its rich textures, is designed to create an atmosphere of opulence and timeless allure.

Designed to transform rooms into luxurious palatial settings, The Great Eastern Home’s French Collection brings opulent sitting areas adorned with gold leafing and rough texture. From a single statement piece to a full collection for your living room, these pieces allow you to create an atmosphere of unparalleled beauty.

Immerse yourself in the elegance of The Great Eastern Home’s French Collection and enjoy furniture that stands the test of time.

Uber Enhances Moto Safety with New Features and Kits

Chandigarh, March 20, 2025: Uber, India’s leading ridesharing company, is ramping up safety for two-wheeler riders and drivers with new technology-led safety features and the distribution of 3,000 safety kits across the country.

As part of the first phase, select Uber Moto drivers in Delhi received safety kits comprising helmets, reflective vests, safety stickers, and protective gear today from Hon’ble Minister of State, Ministry of Road Transport & Highways and Corporate Affairs, Shri Harsh Malhotra. In addition, Uber plans to introduce AI-powered Helmet Selfies for drivers and in-app ‘helmet nudges’ for riders to improve helmet adoption. Women Rider Preference, a first-of-its-kind feature allowing female drivers to filter for female riders, will now be extended to Moto rides.

Bike taxis have become a preferred mobility option due to their affordability, convenience, and ability to navigate traffic. According to the India Economic Impact Report 2024, compiled by UK-based Public First, Uber Auto and Moto contributed INR 36,000 crore to the economy in 2024. A KPMG report titled “Unlocking the potential of bike taxis in India” estimates the sector could create 5.4 million flexible livelihood opportunities in India by 2030, reinforcing its growing significance.

Hon’ble Minister of State, Ministry of Road Transport & Highways and Corporate Affairs, Shri Harsh Malhotra, said: “India is among the world’s largest two-wheeler markets, and ensuring road safety is our shared responsibility. Helmet compliance is a major factor in saving lives from road accidents involving two-wheelers. Uber’s proactive efforts to enhance road safety with tech-driven features like Helmet Selfies and nudges are commendable. Safety kits with helmets and protective gear will keep drivers and riders safe. These efforts need to be scaled further, and we hope that similar initiatives will be adopted by other companies too.”

Manish Bindrani, Head of Regional Supply Growth, Uber India & South Asia, added: “Uber Moto is one of the fastest-growing segments for Uber, loved for its affordability, ability to cut through traffic and easy integration with public transport. Today, the total number of two- and three-wheeler trips on Uber has surpassed car rides. With new safety features and the distribution of safety kits, we are reinforcing our commitment to safer roads while supporting drivers with flexible earning opportunities.”

New Safety Features for Uber Moto

  • Helmet Selfies for Drivers: This industry-first AI-powered feature ensures compliance with helmet use. Drivers are periodically prompted to take a selfie wearing a helmet before starting a trip. If the helmet is missing, they will not be able to begin the trip.
  • Helmet Nudges for Riders: Moto trips will begin with an in-app reminder prompting riders to wear a helmet before starting their journey. This will encourage riders to use helmets during rides and stay safe.
  • Women Rider Preference (WRP): Initially launched for cars, WRP will now extend to Moto rides, allowing female drivers to filter for only female riders, when they want to. This option will give female drivers peace of mind and flexibility, particularly during late hours.

Beyond these new initiatives, every Moto trip on Uber is backed by key safety features, including a 24×7 Safety Line, an in-app emergency button, phone number anonymization, and RideCheck, which detects long stops, midway-drops and route deviations, prompting Uber to check in with the rider and driver. These efforts reinforce Uber’s commitment to making two-wheeler mobility safer, more reliable, and accessible to millions of Indians.

ICICI Bank Enhances Accessibility with Fresh Branch Inauguration in Chhindwara

March 20,2025:Chhindwara: ICICI Bank has set up a new branch at Chhindwara – Nagpur road, near Bodri bridge. This branch, the Bank’s third in city and 17th in district, is equipped with an ATM.

The branch was inaugurated by Shri. Sudhir Jain, Sub Division Magistrate, and Shri. Chandra Prakash Rai, Commissioner, Nagar Nigam, Chhindwara.

The branch offers a comprehensive range of accounts and deposits including savings and current accounts, fixed and recurring deposits and loans like, business loan, gold loan, home loan, personal loan, auto loan and education loan along with remittance and card services. It also provides locker facility at its premises. It operates from 9:30 A.M. to 3:00 P.M. on Monday to Friday and on the first, third and fifth Saturdays of the month.

The branch also offers Tab Banking facility that provides nearly 100 services at the customer’s place by an employee through a tablet device. The services include opening of accounts and Fixed Deposit (FD), raising cheque book request, generation of e-statements and change of address, among others.

ICICI Bank has more than 310 branches and over 510 ATMs and cash recycling machines (CRMs) in Madhya Pradesh.

Venturi Partners Launches INR 225M Fund for Consumer Brands in India & SEA

Singapore/Mumbai, March 20, 2025 – Venturi Partners, a leading growth-stage consumer-focused investor in India and Southeast Asia, has announced the launch of its second fund, targeting $225 million, with a hard cap of $250 million. Building on the success of its first fund, the new fund will continue to focus on Venturi’s core strategy of backing consumer brands that are disrupting their sectors and creating innovative products and services tailored for the evolving Asian consumer.

The second fund will target high-growth sectors such as retail, education, healthcare, and fast-moving consumer goods (FMCG), with a continued focus on India and Southeast Asia. Venturi is aiming for a first close by Q2 CY2025, with visibility towards $130 million, backed by continued strong support from existing investors.

In April 2022, Venturi had raised $180 million from prominent families in Europe & Asia. Venturi’s first fund has invested in 7 high-growth consumer companies across various sectors such as education, F&B subscription, beauty & personal care, retail, and home interiors. Its existing portfolio includes Livspace, Country Delight, Believe, Pickup Coffee, DALI, K-12 Techno and JQR.

Nicholas Cator, Founder of Venturi Partners, said: “Our investment philosophy remains unchanged, backing brands that create meaningful change and deliver innovative solutions to consumers. We take an active ownership approach with our portfolio companies, working closely with founders to help unlock growth and scale their businesses. With this second fund, we are excited to continue partnering with ambitious entrepreneurs across the region.”

Venturi’s unique hands-on approach is centred around working closely with management teams to scale operations and create lasting value. The firm’s expertise in identifying and scaling consumer businesses has made it a trusted partner for founders in India and Southeast Asia.

ITDC Strengthens Leadership as Shri Rajesh Rana Becomes Director (Commercial & Marketing)

Chandigarh, 20 March 2025: Shri Rajesh Rana has been appointed as the Director (Commercial & Marketing) of India Tourism Development Corporation (ITDC), a public sector enterprise under the Ministry of Tourism, Government of India. He took charge of the office in his new role on March 17, and will serve as a member of the Board of Directors.

Shri-Rajesh-Rana_Director-Commercial-Marketing-ITDC

With a career spanning over 26 years in the hospitality industry, Shri Rana brings expertise in catering, tourism, marketing, and business operations. Shri Rana began his career as a Management Trainee with the Jaypee Group of Hotels before moving to THDC India Limited, a Public Sector Undertaking (PSU). In 2005, he joined IRCTC, where he played a pivotal role in shaping its hospitality and tourism initiatives.

During his 19-year tenure at IRCTC, he held key positions across Regional, Zonal, and Corporate Offices, progressively rising through the ranks as Deputy General Manager, Joint General Manager, Additional General Manager, and General Manager. His diverse expertise spans catering, tourism, operations, administration, marketing, product development, and management.

Shri Rana has demonstrated strong strategic leadership and risk management capabilities, contributing significantly to business growth in the hospitality, tourism, and railway catering sectors. Prior to assuming the role of Director (Commercial & Marketing) at ITDC, he served as General Manager at IRCTC’s Corporate Office in New Delhi, where he also held the critical responsibility of Chief Risk Officer (CRO). A distinguished alumnus of the Institute of Hotel Management (IHM), Lucknow, he also holds an MBA in Marketing.

Hexaware Wins Multiple Accolades at World HRD Congress 2025

Mumbai, India, March 20th 2025: Hexaware Technologies, a leading global provider of IT services and solutions, made a remarkable impact at the 33rd World HRD Congress, securing multiple prestigious awards in recognition of its transformative learning initiatives and leadership development programs. The company’s commitment to fostering a culture of innovation, inclusivity, and continuous growth earned it top honors, including three organizational awards, one results-based training award, and the coveted Chief Learning Officer of the Year title for Satyendu Mohanty, Executive Vice President & Global Head – Talent Supply Chain and L&D, Hexaware.

Hexaware’s award-winning programs showcased its dedication to empowering employees at all levels:

Best Leadership Development Program for Middle Management

The Mid-Management Transformation Program (MMT) under Hexaware’s Ignite initiative equips delivery and sales leaders with strategic skills to drive business growth. Through workshops, mentoring, and peer learning, MMT cultivates client-centricity, solution-oriented thinking, and measurable outcomes, enabling leaders to scale key accounts and foster high-performance teams.

Best Organizational Development Program & Excellence in Training & Development Awards

Hexaware’s role-based upskilling engine, Sonic, offers employees access to 1,000+ industry certifications and 800 Target State Roles (TSRs) across domains like Cloud, AI, and Agile. With gamified learning paths, hackathons, and full certification reimbursements, Sonic ensures a future-ready workforce. Over 17,000 certifications have been achieved, reinforcing Hexaware’s industry-aligned talent strategy.

Best Training and Development Program

Hexaware’s democratized learning model prioritizes choice and recognition. Employees design their growth journeys via curated e-learning modules, virtual labs, and collaborative platforms like technical clubs. The innovative Learning Partner system bridges individual units with Hexavarsity (Hexaware’s L&D arm), tailoring training to niche needs while fostering a “learn-for-fun” culture.

Celebrating a Visionary Leader

Satyendu Mohanty was honored as Chief Learning Officer of the Year for his transformative impact. With over 22 years of experience, Satyendu has redefined Hexaware’s L&D landscape through initiatives like:

  • Sonic Program: Driving role-based certifications and skill democratization.
  • Ignite 3.0: Leadership development for 155+ managers via programs like MMT and Unlock Executive Coaching.
  • GenAI Readiness: Certifying over 90% of employees in GenAI, positioning Hexaware as an AI-first organization.
  • Mavericks & Segue: Revolutionizing campus hires’ onboarding with virtual training and early skill-building, ensuring seamless project readiness.

“These awards reflect our unwavering belief in our people’s potential,” said Vinod Chandran, Chief Operating Officer, Hexaware. “By investing in cutting-edge learning ecosystems, we’re not just building skills—we’re shaping leaders who drive tomorrow’s innovations. Our efforts are yielding tangible results, too. We have one of the lowest attrition rates in the industry and are among the top-rated workplaces on Glassdoor.”

Elaborating on Hexaware’s learning culture, Satyendu Mohanty added, “Empowering employees to own their growth is at the heart of our strategy. From GenAI to gamified hackathons, we’re creating a culture where learning is limitless, collaborative, and aligned with global tech evolution. When learning is joyful, it becomes transformative.”

Hexaware’s triumph at the World HRD Congress underscores its efforts to be the best place to learn and grow. By blending technology, inclusivity, and strategic foresight, the company continues to set benchmarks in talent development, ensuring its workforce—and clients—stay ahead in a rapidly evolving digital world.

RedVersity Trains Cult.fit Workforce in Emergency Response in One Day

India, March 20, 2025: In a landmark initiative to enhance emergency preparedness in fitness spaces, RedVersity, the training and education arm of Red Health, successfully partnered with Cult.fit to equip its employees with hands-on training in CPR, first aid, and emergency response protocols. On 12th February, 611 employees across 12 centers were trained to respond effectively to medical emergencies and fire hazards, reinforcing the commitment of both organizations to workplace safety and public well-being.

Fitness centers are high-energy environments where immediate response to emergencies can be critical. Through this large-scale training program, Cult.fit’s trainers, support staff, and employees gained practical knowledge in Basic Life Support (BLS), first aid essentials, and fire safety measures. Conducted by expert trainers from RedVersity, the hands-on sessions included real-life simulations, interactive demonstrations, and skill assessments, ensuring that participants are well-equipped to handle critical situations with confidence.

Highlighting the significance of this initiative, Prabhdeep Singh, Founder & CEO of Red Health, said, “Emergencies don’t come with a warning, and in those critical moments, immediate action can save lives. Through RedVersity, we are committed to empowering individuals with the right skills to respond effectively. Training over 600 Cult.fit employees in a single day aligns with the growing awareness and need for emergency preparedness in India. Our collaboration with Cult.fit is a step towards making life-saving knowledge a fundamental skill for every individual.”

Emphasizing the impact of the initiative, the spokesperson of Cult.fit said, “The safety of our members forms the foundation of everything we do at Cult.fit. With our centers serving numerous clients throughout the day, from personal training sessions to group classes, ensuring security in these close-contact environments is paramount. Through RedVersity training, we’ve significantly enhanced our emergency response capabilities. Our team now stands ready to handle critical situations with confidence and expertise, reinforcing our commitment to creating secure fitness environments across India.”

Through RedVersity’s expertise, this initiative marks a pivotal step toward integrating emergency preparedness into fitness and corporate environments. As more organizations recognize the value of life-saving training, the ripple effect of such programs extends beyond workplaces, ensuring safer homes, communities, and public spaces.

Hatsun Agro Strengthens Retail Presence with 4000th HAP Daily Outlet in Andhra

Mumbai / Chennai,20th March 2025: Hatsun Agro Product Limited, India’s leading private sector dairy company, today inaugurated its 4000th HAP daily Outlet in Bhimavaram, Andhra Pradesh.  This milestone reflects the company’s continued commitment of delivering fresh and high-quality dairy products directly to consumers.

HAP daily Exclusive Stores is part of the company’s retail expansion strategy, offering a range of brands including Arun Icecreams, Arokya, Hatsun, and Hanobar. These stores will retail ice creams, fresh milk, curd, buttermilk, paneer, yoghurt, juices, chocolates, butter, and more. Apart of direct consumer sale, HAP daily Outlets will cater to the retail outlets in their vicinity and increasing availability of the products and expanding the brand reach.

Speaking on the occasion to mark the 4000th HAP daily Outlet, Mr. R.G. Chandramogan, Chairman, Hatsun Agro Product Ltd., said, “The opening of our 4000th HAP daily Exclusive Store in Bhimavaram, Andhra Pradesh is an important milestone in the company’s journey to bring fresh, high-quality dairy products closer to the consumers. Hatsun Agro’s focus has always been on innovation, quality, and ensuring accessibility while creating newer opportunities for dairy farmers and franchisee partners.   We aim to continue expanding our footprint, strengthening our distribution network, and enhancing customer experience through such modern retail formats.”

To further enhance its market reach, Hatsun Agro has recently made strategic acquisitions to expand processing capacities to meet the growing demand for dairy and ice cream products, strengthen distribution networks in key markets, and increase its product portfolio with novel value-added dairy offerings.

Arun Icecreams, a leading flagship brand under Hatsun Agro, is distributed from HAP daily across India and exported to 6 countries (Singapore, Seychelles, Maldives, Brunei, UAE Ajman, & Mauritius) further strengthening its global footprint.

Hatsun Agro continues to expand its retail presence across existing and new markets, with upcoming outlets planned in Maharashtra, Kerala, Odisha, Madhya Pradesh, Bihar, Jharkhand, Chhattisgarh, Gujarat and Andaman Nicobar Islands, while further deepening its presence in Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Puducherry, and Goa. With this milestone, Hatsun Agro is reinforcing its vision of transforming India’s dairy retail landscape, making fresh dairy products easily accessible while supporting the livelihoods of dairy farmers and entrepreneurs.

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