Business
‘Atlas of Affluence’: India’s first yearly white paper on luxury launched
Amidst leading luminaries of industries spanning across the business of luxury, the Atlas of Affluence (AOA) 2022, created by The Voice of Fashion (TVOF, the daily digital magazine that tracks and leads conversations on Indian fashion, design, crafts and retail and a division of Reliance Brands, was launched here on Friday.
It is the first such white paper from India that dissects consumer behaviour studied through the prism of luxury and a collective reflection on what affluence means in India during the two years of the pandemic.
Charting the post-pandemic market and the clearly altered consumer mindset through a specially commissioned study across six cities and markets of India, AOA 2022 has been published as a book with exclusively commissioned artworks.
The study used the time graph of “pre-pandemic” and “post-pandemic” months to specify a comparative matrix.
It also helps debunk long-held ideas about what affluence and luxury have meant to Indians.
The study was formulated over the last several months through scientifically-designed consumer research to understand metro and non-metro differences among buyers, brands, and behavioural ideas behind consumption.
The other sections of this white paper move beyond luxury as a product to explore granularities of affluence.
“In finance and business studies affluence is about assets compared to liabilities. But for an evolved luxury market – which includes aesthetic finesse, awareness, aspiration, affordability and distinction as well as trend-defining choices – affluence brings a new set of affirmations. It is a combination of wealth, assets and high disposable incomes, with socio-cultural awareness, self-knowledge, and a response-able outlook. This comes out clearly in this white paper as the rise of the individual,” said Shefalee Vasudev, Editor, The Voice of Fashion.
Beyond business strategy and numbers, there are a series of columns, interviews, ground reports and features stories on architecture, personal style, the ascendance of India in South Asian design and global luxury, the emergence of the gold collar consumer and the growing market for beauty and wellness.
Also, the study is a consortium, a melting pot of topical, relevant, ready-to-use creative, and commercial insights.
An RBL spokesperson said: “Reliance Brands is happy to support the creation of the Atlas of Affluence, which will become the definitive document for understanding the luxury market in India not just for businesses already operating in this sector but for global businesses looking to invest in the India story. This is the largest exercise ever to decode the affluent consumer across various consumption categories and this will build our own strategic views as we continue to expand in the luxury sector.”
Following are some key takeaways of AOA 2022 at a glance:
– 57 per cent men claim that their fashion spend has increased. As per the RBL data, men’s brand portfolio saw 46 per cent growth in 2021 compared to 2019. For women, it was 14 per cent.
— 76 per cent invest in luxury brands that depict their sense of style over 26 per cent who still see luxury as a means of social assertion.
— 65 per cent of non-metro residents buy luxury on a regular basis against 53 per cent in metros.
— 2 out of 3 among the affluent had shopped luxury online for the first time during Covid-19 restrictions.
— 65 per cent of those shopping online mention that they are eagerly waiting for stores to open.
— 26 per cent Gen Z spontaneously associate luxury with travel and hospitality followed by 21 per cent who associate luxury with fashion and apparel.
— 52 per cent respondents keep celebrity endorsements and influencers in top 2 ranks for key drivers behind brand affinity.
— 58 per cent agree that they have spent more on tech products to curate a futuristic entertainment experience while being stuck at home.
Business
Indian startups making key advances in low-cost rockets in threat to SpaceX: Sridhar Vembu

New Delhi, Oct 10: Zoho’s Chief Scientist and Co‑founder Sridhar Vembu on Saturday said that Indian startups are making major advances in low-cost rockets in threat to SpaceX.
“Directly due to Prime Minister Narendra Modi’s government policy, Indian startups are making major advances in low-cost rockets and that poses a threat to SpaceX in the same way the Chinese EVs threaten Tesla,” Vembu posted on X responding to a post by Starlink Founder Elon Musk.
Further, the tech leader also said medicine prices in India are among the lowest globally and pointed to the Unified Payments Interface (UPI) as an example of low‑cost payment infrastructure.
“India has among the lowest drug prices in the world (and is still going lower). People who visit India buy medicines to take home quite regularly now,” the X post said.
“Prime Minister Narendra Modi has worked hard to create a competitive economy where the benefits flow to the average Indian,” Vembu wrote, adding that the Indian government does not tolerate monopolies.
“He has also actively promoted and encouraged a massive surge in startups, and that is the best signal of a highly competitive economy,” the post said.
Vembu supported India’s economic and digital policies, hailing the country’s low data costs and competitive markets.
He said Indians routinely use dual‑SIM phones with large data plans because they are affordable.
“India has among the lowest data prices in the world. It is so good that I don’t even bother to connect to local Wi-Fi when I travel in India and just tether my phone to work on my computer,” he said.
In a separate post on Friday, Vembu said Indians have made major contributions to US technology prowess but warned that many on US visas face the prospect of uprooting lives built through hard work.
“A big part of America no longer wants us,” the Zoho Co-founder said.
Business
Govt disconnects over 82 lakh fraudulent mobile connections via ASTR

New Delhi, Oct 9: India has disconnected over 82 lakh fraudulent mobile connections through the Artificial Intelligence and Facial Recognition powered Telecom SIM Subscriber Verification (ASTR) tool, Union Minister of State for Communications and Rural Development Dr Chandra Sekhar Pemmasani said on Friday.
Addressing the International Telecommunication Union (ITU) Roundtable on “Implementing ITU Standards to Combat Fraudulent Communications” on the sidelines of the India Mobile Congress (IMC) 2026 here, the minister said the country has built a robust and layered defence mechanism against telecom-related fraud and cybercrime.
He noted that organised fraud networks are becoming increasingly sophisticated, with scams involving impersonation, so-called digital arrests, AI-generated voice cloning and deepfakes posing significant challenges. According to the minister, Indians lost more than Rs 22,800 crore to such fraud in 2024.
Dr Pemmasani said India has adopted a five-layered approach to tackle fraudulent communications. This includes real-time blocking of spoofed international calls, identification and disconnection of suspicious mobile connections through the ASTR platform, citizen participation via the Sanchar Saathi initiative, intelligence sharing through the Digital Intelligence Platform (DIP), and targeted action against emerging fraud channels.
Highlighting the impact of these initiatives, he said the Sanchar Saathi app has been downloaded around 25 million times, enabling citizens to actively participate in reporting suspected fraud and misuse of telecom resources.
The minister added that the Digital Intelligence Platform currently connects more than 1,600 organisations, including telecom service providers, banks and law-enforcement agencies, facilitating real-time information sharing to detect and prevent fraudulent activities.
He further said that the Financial Fraud Risk Indicator has helped avert suspected financial losses exceeding Rs 5,000 crore over the past 15 months by enabling timely intervention against fraudulent transactions.
Emphasising the need for international collaboration, Dr Pemmasani said fraud has become a global problem that requires coordinated global solutions.
He underscored the importance of adopting international standards for digital verification of caller identities across networks to curb cross-border fraud.
Welcoming the ITU’s proposal for joint trials among governments, regulators, telecom operators and technology companies, he said India is ready to participate and contribute to the development of global frameworks for trusted communications.
Business
Skill training institutes no less than IITs, IIMs: PM Modi urges youth to champion skill development

New Delhi, Oct 9: Prime Minister Narendra Modi on Friday met members of India’s contingent that delivered an impressive performance at the WorldSkills Competition Shanghai 2026, congratulating the young participants for showcasing their talent and skills on the global stage.
The interaction took place at the Prime Minister’s residence at 7, Lok Kalyan Marg, where PM Modi lauded the competitors for their achievements and encouraged them to continue excelling in their respective fields.
Sharing details of the meeting on social media, the Prime Minister praised the participants for their outstanding performance at the international skills competition and said it was a pleasure to interact with and motivate the young achievers.
The Prime Minister underlined the objective behind establishing a separate Ministry for Skill Development and said that the importance of skill training institutions is no less than that of IITs and IIMs. He encouraged the participants to share their experiences and suggestions with the government to help improve India’s skill training system.
India recorded its best-ever performance at the 48th WorldSkills Competition, held from September 22 to 27 at the National Exhibition and Convention Center (NECC) in Shanghai. The country secured six silver medals and 20 Medallions for Excellence, finishing 10th in the overall rankings.
The latest result marks a significant improvement from the previous edition of the competition held in France’s Lyon in 2024, where India finished 13th with four bronze medals and 12 Medallions for Excellence.
The improved ranking reflects the growing capabilities of India’s skilled workforce and its rising presence in global skills competitions.
According to the Ministry of Skill Development and Entrepreneurship, the six-day event brought together more than 1,400 young competitors from nearly 70 countries and regions.
India fielded its largest-ever contingent, comprising 70 competitors, who participated in 63 skill categories spanning emerging technologies, advanced manufacturing, engineering, creative industries and specialised services.
After four days of intense competition, winners were honoured during the closing ceremony held in Shanghai on September 27. The event celebrated excellence in technical expertise, innovation, precision and craftsmanship, drawing participants, industry leaders, experts and international delegations from across the world.
India’s participation in WorldSkills Shanghai 2026 was coordinated by the National Skill Development Corporation (NSDC) under the Ministry of Skill Development and Entrepreneurship, with support from Sector Skill Councils, industry partners, training institutions and technical experts.
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