Reports suggest that Spotify is currently experimenting with lossless audio streaming capabilities. This isn’t the initial endeavor by the Swedish audio streaming service to introduce support for lossless audio on its platform. In 2021, Spotify unveiled the Hi-Fi tier with the aim of supporting lossless audio formats. Nevertheless, despite ongoing efforts, it has yet to be officially released.

Now, however, the app’s interface has been updated to reflect new music streaming options for lossless – up to 1,411kbps. For reference, the app has music streaming limited to 320 kbps to date. While the streaming option remains 320 kbps in the latest version of the app, Spotify is reportedly testing a lossless audio streaming option in its app version 1.2.36.

Lossless audio allows high-resolution audio streaming without compression. Therefore, the audio sounds detailed and without quality loss due to compression. Select other music streaming services such as Apple Music, Amazon Prime Music, and Tidal already support lossless audio streaming.

Though still in the works, lossless is expected to be offered to Spotify premium subscribers. It is expected to support up to 24-bit/44.1kHz bit rate using the FLAC audio format. According to media reports, Spotify would offer options to download the music in lossless format for which users will have to update download quality in settings.

Spotify is expected to recommend using Spotify Connect speakers or wired devices for optimal lossless quality as Bluetooth devices do not fully support lossless audio. Additionally, it would show a compatibility checker for the devices, connection type, and bandwidth.

Recently, Spotify announced testing AI-generated playlist features based on text prompts. Currently in beta for premium subscribers only on Android and iOS platforms.

Raymond, a leading garment manufacturer and retailer, is set to invest nearly Rs 200 crore to expand its capacity by one-third, aiming to solidify its position as the third-largest suit maker globally. Chief Financial Officer Amit Agarwal highlighted this strategic move in an interview with CNBC-TV18, emphasizing the company’s commitment to growth and profitability.

Agarwal noted that Raymond has experienced robust growth and improved profitability, despite challenges such as weaker demand in the wedding and general retail segments due to inflationary pressures in FY24. However, he expressed confidence in the company’s ability to navigate these challenges, citing a strong performance in the branded apparel segment, which witnessed over 20 percent growth on an annual basis.

While Raymond’s garmenting segment faced de-growth in the fourth quarter, Agarwal attributed this decline to the impact of the Red Sea crisis on shipments. Nevertheless, he highlighted the company’s robust order book, driven by initiatives such as Make in India and the China plus one policy, which aims to diversify supply chains away from excessive reliance on China.

In its financial report for the quarter ended March 31, Raymond reported an 18 percent increase in consolidated net profit, reaching Rs 229 crore. The company’s revenue for the same period amounted to Rs 2,688 crore, representing a significant year-on-year growth compared to Rs 2,192 crore in the corresponding period last year.

Furthermore, Raymond announced a dividend of Rs 10 per share, underlining its commitment to rewarding shareholders and maintaining financial stability.

The company’s strategic investment and expansion plans underscore its ambitious growth trajectory and commitment to maintaining its competitive edge in the global market. With a focus on innovation, efficiency, and resilience, Raymond remains poised to capitalize on emerging opportunities and deliver value to its stakeholders.

Raymond’s investment of approximately Rs 200 crore to expand its garmenting capacity signals a strategic move to bolster its global standing in the apparel industry. By enhancing its production capabilities, Raymond aims to capitalize on growing demand for quality suits and position itself as a key player in the international market. Despite challenges posed by weaker retail demand, particularly in segments like weddings, Raymond’s strong performance in branded apparel underscores the enduring value of its brand and its ability to resonate with consumers. This resilience, coupled with a focus on operational efficiency and market diversification, positions Raymond favorably for sustained growth and profitability. The company’s proactive approach to address challenges, such as the impact of the Red Sea crisis on shipments, demonstrates its agility and adaptability in navigating geopolitical disruptions.

While the Airbus A320 Family is supporting the democratization of air travel in India, the A350 has become the reference aircraft to unlock the true potential of the international market for the Indian carriers.

IndiGo, India’s largest airline, has placed a firm order for 30 Airbus A350-900 aircraft. The order will help expand IndiGo’s international network to long-haul destinations.

India, the world’s fastest growing major aviation market, is on the verge of an international travel boom as the economy grows and household incomes rise. The A350 is perfectly positioned to serve the country’s aspirations for long-range travel. The choice of the A350 is a reaffirmation of IndiGo’s continued trust in Airbus and is yet another validation of the aircraft as the undisputed leader in long-haul air travel.

“Today’s historic moment marks a new chapter for IndiGo and will further shape the future of the airline and for Indian aviation at the same time. For IndiGo, after successfully pioneering the Indian skies with an unprecedented journey, its fleet of 30 Airbus A350-900 aircraft will allow IndiGo to embark on its next phase of becoming one of the leading global aviation players. At IndiGo, we take pride in being India’s preferred airline and for offering connectivity to our customers, in and with India. This reaffirms IndiGo’s belief in, and commitment to, the growth of India, and in our strategic partnership with Airbus,” said Pieter Elbers, CEO, IndiGo.

“A heartfelt thank you to IndiGo for putting its trust in Airbus once again, and to our respective teams who negotiated this agreement for 30 A350s. IndiGo’s first widebody order opens an exciting new chapter in our close partnership. We are proud that our fuel-efficient, next-generation A320 Family revolutionized domestic air travel in India, and that now the A350 is poised to replicate the same success on long-haul routes,” Benoît de Saint-Exupéry, Airbus EVP Sales, Commercial Aircraft. Bound in a relationship of symbiotic growth with India for more than half a century, Airbus products and services have catalyzed the growth of the country’s civil aviation sector. While the Airbus A320 Family is supporting the democratization of air travel in India, the A350 has become the reference aircraft to unlock the true potential of the international market for the Indian carriers.

IndiGo is among the fastest growing airline companies in the world, and is one of the largest A320 Family customers.

The A350 is the world’s most modern and efficient wide-body aircraft in the 300-410 seater category. The A350’s clean sheet design includes state-of-the-art technologies and aerodynamics delivering unmatched standards of efficiency and comfort. Its new generation engines and use of lightweight materials bring a 25 per cent advantage in fuel burn, operating costs and carbon dioxide (CO2) emissions, compared to previous generation competitor aircraft.

Business activity increased across the four sub-categories monitored by the survey, led by steep growth in finance and insurance.

India’s service sector made a strong start to the first fiscal quarter as new business in terms of total sales and output registered the sharpest expansion in 14 years, taking the seasonally adjusted HSBC India Services Business Activity Index to 60.8 in April.

Despite falling from 61.2 at the end of the previous fiscal quarter, last month saw the second-fastest rise in international orders in series history, as a near-record upturn in services exports helped boost sales growth on the back of favorable economic conditions, demand strength, and rising intakes of new work.

Business activity increased across the four sub-categories monitored by the survey, led by steep growth in finance and insurance. In addition to buoyant domestic demand, firms noted new business gains from several parts of the world, which collectively underpinned the second-quickest upturn in international sales since the series started in September 2014.

Notably, services companies observed the second-fastest increase in new export business in the near 10-year series history, behind only that seen in March, buoyed by gains from several countries in Asia, Africa, Europe, the Americas, and Middle East.

Outstanding business, meanwhile, increased for the 28th consecutive month in April, albeit at a slight pace that was softer than in March and broadly aligned with the average over this sequence.

According to Pranjul Bhandari, Chief India Economist at HSBC, India’s service activity rose at a slightly softer pace in April, backed by a further rise in new orders, with notable strength in domestic demand. “Although new export orders remained robust, they showed a slight moderation from March figures. Overall confidence among service providers for the year-ahead outlook improved markedly, bolstered by resilient demand conditions. In terms of overall activity, aggregate output across both the manufacturing and service sectors rose significantly in April, albeit at a slightly slower pace, indicating sustained health in these sectors,” says Bhandari.

Wage pressures and higher food prices, meanwhile, led to another increase in cost burdens, which firms partially passed on to their customers. Charge inflation eased from March’s near seven-year high, however. Amid reports of higher input (particularly fruits and vegetables) and labor costs, operating expenses continued to increase in April. The overall rate of inflation pulled back since March and was broadly aligned with its long-run average.

The consumer services segment saw by far the sharpest increase in input costs. A backdrop of robust underlying demand enabled service providers to pass part of their additional cost burdens through to clients in the form of increased charges. The rate of selling price inflation eased from March’s near seven-year high and was close to its long-run trend.

Buoyed by rising inflows of new business, a few service providers in India showed an increased appetite for new hires in April. That said, with several companies indicating that payroll numbers were sufficient for current requirements, the rate of job creation was marginal and softer than that seen at the end of the previous fiscal year.

Finally, confidence among service providers towards the year-ahead outlook for business activity improved to a three-month high. Marketing efforts and efficiency gains, alongside plans to price competitively and predictions that demand conditions will remain favorable, boosted optimism.

The final HSBC India Composite index also signaled a substantial rate of expansion across the private sector, reading at 61.5 in April (March: 61.8), — one of the highest seen in close to 14 years. It, however, came in below the flash estimate. As was the case for output, manufacturers continued to note a stronger increase in new business intakes than service providers. Aggregate sales rose sharply, and at one of the fastest rates since mid-2010. Goods producers also led April’s rise in payroll numbers, with softer growth in the service economy curbing job creation at the composite level.

Aggregate input costs across India rose moderately at the start of the first fiscal quarter. The rate of inflation was softer than in March and below its long-run average. Here, the stronger increase was registered in the service sector. Moderate increases in selling prices were recorded at manufacturing firms and their services counterparts. Across the private sector, charge inflation softened since March.

According to Harbir K Bhatia, CEO of the Silicon Valley Central Chamber of Commerce, Indians play a crucial role in driving innovation in Silicon Valley, and the tech industry in America heavily relies on their contributions. While specific figures may not be available, Bhatia emphasized the significant impact Indians have as contributors to the tech sector.

“India(ns) are one of the largest leaders of innovation in Silicon Valley. At one point, the data was collected (according to which) 40 per cent of Silicon Valley CEOs or founders were from South Asia or India. That is so huge,” she said.

Located in Santa Clara, the hub of Silicon Valley, the Chamber of Commerce is made up of a group of visionary business leaders from multiple cities that help grow and shape the future of Silicon Valley.

“Here you get to bring your whole self to work and have the opportunity to be creative, to be all that you want to be without the worry of your color, of your skin, the religion you practice, the caste, the culture, anything,” she said.

Bhatia said Indians bring some of the best values like hard work and productivity to the work.

“I can tell you this, if you get a 98 per cent in school, your mom and papa will always tell you, ‘but why didn’t you get a hundred per cent?’ That’s our culture. That’s who we are. It’s never enough, and that craving and that aspiration is what separates us (from others),” Bhatia said.

“I’m not saying other ethnicities don’t believe this way, but as being one of the largest populations on the planet, this is something that is part and parcel of who we are…,” she said.

Bhatia said Indians are heading all the major corporations like Google, YouTube, Google Foundation, and Microsoft.

“They’re either at the CXO (Chief Experience Officer) level or they’re the CEOs. That doesn’t happen by chance,” she said.

More than 185,000 companies were registered in the country last fiscal, higher than the count recorded in the year-ago period, and nearly 16,600 companies were set up in March this year, according to official data. As per the data, 159,524 companies were registered with a collective paid-up capital of Rs 18,132.16 crore in 2022-23.

At the end of March 2024, the country had a total number of 2,663,016 companies and out of them, 1,691,495 companies or 64 per cent were active. As many as 931,644 registered companies were closed, 2,470 were dormant entities and 10,385 companies were under liquidation. A total of 27,022 companies were under the process of being struck off from official records.

During FY 2023-24, a total of 185,312 companies were registered with a collective paid-up capital of Rs 30,927.40 crore, according to the corporate affairs ministry’s information bulletin for March. Out of them, 71 per cent were in the services sector, followed by 23 per cent in the industrial segment and 6 per cent in agriculture. “Broader economic activity-wise classification reveals that community, personal and social services observed the highest rise of 11 per cent in the service sector as compared with FY 2022-23,” it said.

The ministry is implementing the Companies Act, 2013. In terms of states, 17.6 per cent of the new companies were set up in Maharashtra in 2023-24. “There is an increase of 0.10 per cent in the total proportion of active companies w.r.t registered companies when compared to February 2024,” the bulletin said.

As on March 31, 2024, there were a total of 5,164 foreign companies registered in the country and out of them, 3,288 companies or 64 per cent were active. In March, the bulletin said 42,041 Director Identification Numbers were registered.

“Out of the total number of directors registered in India in March 2024, 67 per cent were male and the remaining 33 per cent were female… 43 per cent of newly registered directors belong to the age group of 31-45 years. “Furthermore, 7 per cent of the new director registrations were older than 60 years,” the bulletin said.