AAPI: February 2024

DELHI, February 2024

Index of this Newsletter

INDIA

INDIA & THE WORLD

21. Ayush poised to become world leader in holistic health & wellness: Sarbananda Sonowal
22. Russia has already started to seek out alternative sources of bananas from countries including India, it has emerged.
23. Factors that help India's IT sector growth in 2024 amidst global economic uncertainty
24. Indians’ Experiments with Spirits Giving Irish Distillers a High
25. Germany Overtakes Japan as Third-Biggest Economy

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DELHI, FEBRUARY 2024

NEWSLETTER, FEBRUARY 2024

INDIA

– GENERAL POLICY, INFRASTRUCTURES, COUNTRY FINANCES, ETC.

1. Invest Goa 2024 Summit Goa-IDC: Invest Goa 2024 Summit set to catalyse industrial growth and collaboration in Goa

ET Gov. 29 Jan. 2024

The Invest Goa 2024 Summit is poised to be a catalyst for economic growth, facilitating strategic partnerships and positioning Goa as a preferred destination for industrial investment.

The summit's agenda includes Sectoral sessions on Logistics and Warehousing, IT and ITes and a 'Country Session' focusing on attracting Foreign Direct Investment (FDI) in Goa and boosting exports by identifying key sectors for collaboration with other countries.

The Invest Goa 2024 Summit is a collaborative initiative by the Goa Industrial Development Corporation (Goa-IDC) and the Confederation of Indian Industry (CII) as the National Partner bringing together industry leaders and key stakeholders which promises to be a key platform for fostering dialogue and enhance investment prospects in the state of Goa.

Goa Industrial Development Corporation [Goa-IDC] alongwith Goa-IPB and Confederation of Indian Industries [CII] will interact with industry leaders during the Invest Goa 2024 summit scheduled on January 29 at Taj-Cidade-de-Goa, Dona Paula, Goa.

The distinguished line-up of participants includes former Union Minister and Economist Suresh Prabhu, Dr. Pramod Sawant, Chief Minister Goa, Mauvin Godinho, Minister for Industries, Aleixo Reginaldo Lourenco, Chairman, Goa-IDC, Pravimal Abhishek, MD, Goa-IDC, Swetika Sachan, CEO of Goa Investment Promotion Board(IPB) are all set to actively engage in various sessions and discussions at the event.

The event will feature 24 speakers addressing on potential key sectors of Goa. Deliberations will cover significant reforms and new policy formulations by the state government. Invest Goa 2024 is set to be a premier assembly of CXOs, Senior Business Executives, Diplomats, Industry experts, and government officials.

The highlight of the event will include the launch of the 'Goa-IDC Regulation Book,' a comprehensive compilation of recently amended regulations by Goa-IDC aimed at enhancing the Ease of Doing Business in the state. The new set of rules is expected to unlock the gates for industrial investment in the state providing a conducive environment for businesses to thrive. Additionally, Goa IDC will launch the 'Goa Industrial Land Bank’ and also unveil the 'Goa-IDC portal,' providing a digital platform for its investors for seamless interaction and information.

Amongst the important delegates for the ‘Country Session’ includes Abdualla Husein Salman Mohamed Almarzooqi, the Consul General of the UAE, Thierry Van Helden, Deputy Consul General of Netherlands, Luciano Cillario, Founder, Europstampa, Italy and Renu Sharma, Director, The Council of EU Chambers of Commerce in India.

The Invest Goa 2024 Summit is poised to be a catalyst for economic growth, facilitating strategic partnerships and positioning Goa as a preferred destination for industrial investment.

2. Bridging Academia-Industry Gap: The urgency for curriculum reform in government engineering colleges

ET Gov. 20 Jan. 2024

The Wheebox India Skills Report 2023 conducted in collaboration with CII, AICTE, and others, mentioned that only 50% of graduates were found to be employable. That is the drawback of engineering education in India.

About 53% of Indian graduates are employable for top non-technical jobs compared with 44% of graduates who are employable for top technical jobs.

Did you know that only 45% of India's graduate jobseekers meet industry needs, according to an article published in The Economic Times this year? The total number of engineering seats in India is approximately 14 lakhs and as per AISHE Report, 13.42 lakh students have enrolled in Engineering. Meanwhile, the Wheebox India Skills Report 2023 conducted in collaboration with CII, AICTE, and others, mentioned that only 50% of graduates were found to be employable. That is the drawback of engineering education in India.

Ironically, the government formulates policies for higher education in a way that can put the students on a higher pedestal. There is every effort to revisit the college curricula and skill development programs. There are also incubation hubs for entrepreneurship. Funding schemes, grants, and scholarships are announced periodically to encourage the innovative spirit of students. Initiatives such as the National Institutional Ranking Framework (NIRF) mechanise the quality assurances and dependability of government colleges. Despite all these, government colleges have faced discouraging progress in the student-to-industry employability ratio.

When it comes to higher education, government colleges in India have always been underplayed by private colleges in terms of meeting the emerging industrial demands. This results in a disparity between graduate’s skills and knowledge and what employers require, leading to low employability rates and limited career prospects.

Problems and limitations associated with government colleges that lead to challenges such as:

Most government colleges adhere to an inflexible curriculum, which is the primary reason, behind this unfortunate situation. The curriculum is usually formulated by state boards without considering input from the industry or students. It seldom undergoes revisions to incorporate the trends and advancements in fields.

Moreover, the courses are heavily focused on concepts resulting in a lack of exposure and application-based learning that is required in today’s world.

Lower activation of fostering collaborations, with industries to offer internships engaging projects, enlightening workshops, insightful guest lectures, as well as promising placement prospects, for their students.

Consequently, students struggle to acquire the skills and competencies demanded by workplaces, such, as problem-solving, critical thinking, communication, teamwork, creativity, and innovation.

Ways to overcome the challenges and raise the employability of government college graduates

An effective approach, to tackle this problem involves revising the curriculum. According to a research paper published by Rabindranath Tagore University, Bhopal titled "Curriculum Reforms in Higher Education of India for Employability, Entrepreneurship and Skill Development", there is a great need to update and change the framework of education curriculum in India. Yet according to another article titled ‘Toward student-centricity

Revamping Indian higher education for the future of work’ by Deloitte in 2020, “a poorly designed curriculum that is not reflective of students’ expectations and market realities can hold grave consequences for both students as well as the institution. Not only should the course curriculum be revisited at regular intervals, but it also should explicitly specify the skills that students can expect to develop at the end of course completion,” to make the students more employable.

Hence, it is vital for government colleges to significantly update their curriculum to narrow the divide, between what they provide and what the industry requires. The government should give colleges freedom and responsibility to design and implement their curriculum. Additionally, colleges should involve both industry professionals and students in the process of developing and revising the curriculum. The curriculum must remain relevant, up, to date and aligned with both global standards. The courses should also prioritize the development of skills and competencies needed in today’s workplace.

Moreover, most tech companies prefer job-ready candidates now. Their focus on students being able to come up with innovative solutions and practical experience is higher than ever before, given the pace at which technology is evolving in this age. Lack of relevant skills and job-readiness can make the students take a back seat in employment

So, what are the solutions recommended to government colleges, college management, and the stakeholders? Here is the short guide for the educators:

Emerging technologies must be on the forefront. Industry-relevant skills must be taught to students. The teaching faculties must be trained on new teaching methodologies.

Embracing change: Updating curriculum on regular basis especially in terms of emerging technologies should be mandated.

Effective execution: Administration must be streamlined for faster decision-making and implementation of education policies in line with the demands of the evolving tech industry.

Funding: More funding and resources must be allocated for training, R&D and infrastructure development.

Collaborations: Networking opportunities, collaborations, internships in key companies, hands-on real-time industry problem-solving experience through workshops and practical application must be fostered.

Career guidance and mentorship cell: Students must be able to gain guidance from a dependable source for furthering their career and industry-relations.

In effect, a broad ecosystem and ‘Curriculum Transformation’ are essential to promote technology and industry-driven innovative spirit among students and faculties. By creating a conducive environment and nurturing entrepreneurship, inclusivity of government college students in technical societies, and innovation hubs, the day won’t be far away when the student-industry gap can be bridged even while enrolled in a traditional college if it is ready for change.

3. Start Late but Get it Right in Lakshadweep

ET, 20 Jan. 2024

Exactly 31 years ago this week, my best friend and her husband chose a very unusual destination for their honeymoon: Lakshadweep. We all marvelled at their adventurous spirit as those islands were as little known to Indians in 1993 as they were before Prime Minister Narendra Modi posted photos from there two weeks ago.

But they returned exhilarated by the sheer beauty of the turquoise waters and coral reefs even if a tad fed up with tuna fish and coconut oil.

As there was no place to stay on shore, the two of them as well as other groups and couples had rooms on a ship and were deposited on an island every morning. They spent the day gambolling in the coral-studded clear waters and ate al fresco on the lovely beaches before returning to the ship. No luxury resort-type comforts but the natural beauty of the islands—and even a surprise sunrise on a sandbank as their shuttle failed to turn up one night—made it memorable.

Then, last year an NRI architect friend toyed with the idea of Lakshadweep for his honeymoon. But he reluctantly had to shelve plans as the infrastructure of the islands had not changed at all from the time my best friend was there. In fact, the situation was the same in 1993 as in 1987-88 when the then PM Rajiv Gandhi had famously holidayed there with family and friends. Everything from water and food to generators was brought in by boat from the mainland.

Back then everything happened at a glacial, pre-liberalisation pace so the lack of change between 1987 and 1993 was not surprising. But the fact that things remained largely the same in Lakshadweep even in 2023, over 30 years since India opened up and the hospitality sector expanded to cater to peripatetic Indians, is astonishing. Yet Maldives, a nation nestled in the same chain of islands, became a coveted luxury tourist destination in the same period.

Of course, Maldives has 1,194 islands and atolls in that archipelago to India’s 36, but even so, there was surely enough space and potential demand to sustain at least a handful of high-end hotels over the years in Lakshadweep. The Taj Group announced plans for two hotels promptly after the PM’s visit there, but its super-luxurious resort in the Maldives opened way back in 2002. Not at all surprising really, as that country’s big tourism push began in 1972.

India’s policymakers need to take a ‘der aaye, durust aaye’ (started late but got it right) approach now and make Lakshadweep a model in sustainable tourism. That would mean only a miniscule fraction of India’s 1.4 billion people can be allowed to stay there at a time. Or else by 2050 the fragile coral atolls of Lakshadweep will be submerged by humans and not by the Arabian Sea due to global warming, as is being predicted for Maldives.

In any case, India has other islands to offer. That there is a Taj Exotica in the Andamans (on Swaraj Dweep, formerly called Havelock Island) besides other resorts of varying standards indicates the Bay of Bengal’s potential. And there is literally room for plenty more in the 571-island Andaman & Nicobar archipelago even though certain ones will (and should) remain out of bounds permanently as the exclusive preserve of the primitive indigenous tribes.

The hospitality sector just needs improved infrastructure and enabling policies, though ecological imperatives must be kept in mind. The central government has taken a very pragmatic approach to the key port project at the tip of the Nicobar Islands; it should be just as judicious when it comes to distributing hordes of island-seeking Indian tourists among various domestic options. All are not coral atolls like Lakshadweep but certainly worth facility upgrades.

It is not an exaggeration to assert that except for floating icebergs, there is no natural beauty India cannot offer, from coral reefs to glaciers, waterfalls to rainforests, lakes to peaks, sand dunes to salt flats, mangroves to pine groves besides a plethora of wildlife. Usually lacking are infrastructure, accommodation, amenities—and impetus. Lakshadweep’s lethargy from 1987 to 1993 to 2023 epitomises this. Why should change come only after a PM’s nudge?

4. SWATI: Government launches portal for girls in Science, Technology, Engineering, Mathematics, Medicine

ET Gov. 12 Feb. 2024

The portal first-of-its-kind in India–it is a complete interactive database developed, hosted and maintained by the National Institute of Plant Genome Research (NIPGR).

Principal Scientific Advisor to the Government of India Prof Ajay Kumar Sood today launched Science for Women-A Technology & Innovation (SWATI), which is a portal aimed at representing girls in STEMM (Science, Technology, Engineering, Mathematics & Medicine).

The portal seeks to encourage women to enter the field of science in academia and industry.

Launching the portal on the occasion of International Day of Women and Girls in Science at Indian National Science Academy (INSA), New Delhi, Prof Sood said, the database of SWATI portal will serve in policy making to address the challenges of Gender-gap.

The portal first-of-its-kind in India–it is a complete interactive database developed, hosted and maintained by the National Institute of Plant Genome Research (NIPGR). It has come up under the leadership of Dr. Subhra Chakraborty, Director, NIPGR.

Dr Chakraborty in her address said that this is probably the world's first interactive portal of its kind. She also quoted figures of the 2021 UN Report to highlight the under representation of women across all sectors. She noted that this dynamically growing portal will have the data of all the women scientists in the country.

Prof. Quarraisha Abdool Karim, President TWAS, in her Keynote Address said that even in the 21st Century, we still have a way to take initiatives to address gender parity issues. “Education is a great equalizer and access to it must be made available to women and girls across all streams,” she said.

The event was graced by the distinguished scientists of national and international repute. The leaders of several startups had also participated.

5. India’s installed nuclear power capacity is set to increase from 7480 MW to 22800 MW by 2031-32: Government

ET Gov. 08 Fev. 2024

The steps taken by the government include the according of administrative approval and financial sanction to set up ten (10) indigenous 700 MW Pressurized Heavy Water Reactors (PHWRs) in fleet mode, Creation of Indian Nuclear Insurance Pool (INIP) for implementation of Civil Liability for Nuclear Damage (CLND) Act, Amendment of the Atomic Energy Act to enable Joint Ventures of Public Sector Companies to set up nuclear power projects..

Union Minister of State (Independent Charge) for Science and Technology Jitendra Singh speaks in the Lok Sabha during the Budget Session of Parliament, in New Delhi on Tuesday.

The Government informed the Lok Sabha that the present installed nuclear power capacity is set to increase from 7480 MW to 22800 MW by 2031-32.

In a written reply to a question in the Lok Sabha, on February 7, Union Minister of State (Independent Charge) Science & Technology, Dr Jitendra Singh said, the Government is taking policy measures to generate electricity through atomic energy.

The aim of the government is to increase the share of nuclear power in total electricity generation in the country, he said.

These steps include the according of administrative approval and financial sanction to set up ten (10) indigenous 700 MW Pressurized Heavy Water Reactors (PHWRs) in fleet mode, Creation of Indian Nuclear Insurance Pool (INIP) for implementation of Civil Liability for Nuclear Damage (CLND) Act, Amendment of the Atomic Energy Act to enable Joint Ventures of Public Sector Companies to set up nuclear power projects..

“The country has also entered into agreements with foreign countries for nuclear power corporations including supply of fuel,” Jitendra Singh said.

- Agriculture, Fishing and Rural Development

6. Akshayakalpa Organic to open new dairy plant near Chennai

ET. 20 Jan. 2024, Yogesh Kabirdoss

CHENNAI: Akshayakalpa Organic, a certified organic dairy company, will inaugurate a plant near Chennai on January 26. It is the second facility of the company after the one in Karnataka.

The plant at Pooriyampakkam in Chengalpet district, about 70 kilometres south of Chennai, will have an installed capacity to process 40,000 litre of organic dairy products every day.This includes 34,000 litre of fluid milk and 6,000 litre of curd.

Shashi Kumar, CEO and co-founder, Akshayakalpa Organic, said the plant would process 4,000 litre of milk initially procured from 80 certified farms in Chengalpet district.

"We have invested Rs 4 crore for establishing the plant. We will be scaling up production by 15,000-20,000 litre everyday over the next three to four years," he said.

Currently, the company is processing 90,000 litre of milk on a daily basis in its facility at Tiptur in Karnataka catering to Karnataka, Chennai and Hyderabad markets.

Shashi Kumar said the company might close the current financial year (FY24) with a revenue of Rs 300 crore. "We are looking at increasing the revenue to Rs 450 crore in FY25," he added.

7. AI Rural Development Jaxay Shah: AI applications for driving rural development, from agriculture to healthcare and education

ET Gov. 28, Jan.2024

By leveraging the creative potential of AI, rural communities stand poised for sustainable development, reducing the historical trend of migration from rural to urban areas. The integration of AI not only addresses disparities but also fosters self-sufficiency, ensuring that individuals find fulfillment and prosperity within their local landscapes.

This phenomenon of AI penetration in the rural landscape can be further strengthened when the skilled manpower in AI technology reaches rural india.

In recent years, Artificial Intelligence (AI) has emerged as a powerful force driving innovation across various sectors, and its potential for rural development is increasingly being recognized.

Stanford University’s AI Index Report 2023 has revealed India's role in the global Artificial Intelligence revolution. The report shows that India is a leader when it comes to AI skills as it has the highest AI skill penetration rates in the world.

India ranks 1st in the term of AI skills penetration with a score of 3.09 and has also recently secured 5th rank in terms of investments received by startups offering artificial intelligence (AI)-based products and services last year.

Rural areas, often marginalized in terms of technological advancements, stand to benefit significantly from the application of AI in various domains. From agriculture to healthcare and education, AI has the potential to revolutionize rural communities, fostering sustainable development and improving the quality of life for their residents.

Education and Skill Development

The first aspect that comes to mind is education, AI technologies can play a crucial role in addressing educational disparities between urban and rural areas. AI-powered educational platforms can personalize learning experiences, adapting to individual students' needs and pace of understanding.

Virtual classrooms and online resources supported by AI algorithms can extend the reach of quality education to remote areas, providing students with opportunities to acquire relevant skills for the evolving job market.

Another major factor that hampers education in villages is access to quality tutors who can handhold the student beyond traditional academic institutes. Solutions with AI-powered chatbots and virtual assistants may be able to support students by providing instant feedback, answering questions, and offering guidance through online platforms and e-learning tools.

Finance

AI-driven financial services, such as mobile banking and digital wallets, can enhance financial inclusion by providing banking services to rural populations.

Chatbots and virtual assistants will also help rural people to learn about financial decisions, manage their expenses, and improve their financial literacy. Furthermore, AI enables smooth communication between rural communities by making banking facilities available in their native languages thereby making financial literacy reach at the grassroot level.

Agriculture

Agriculture is going to be the backbone of the PM's vision of Viksit Bharat in 2047. One of the most impactful applications of AI in rural development is in the field of agriculture. Precision agriculture, enabled by AI technologies such as machine learning and drones, allows farmers to optimize their resources and increase productivity.

AI algorithms can analyze vast amounts of data, including weather patterns, soil conditions, and crop health, to provide farmers with real-time insights and recommendations. This not only maximizes yields but also reduces the use of resources like water and fertilizers, promoting sustainable farming practices.

AI will help make agricultural practices more affordable and accessible

Infrastructure

AI can enhance the efficiency of infrastructure management in rural areas. Smart infrastructure solutions, powered by AI, can optimize energy consumption, manage water resources, and enhance transportation systems.

For instance, AI-driven monitoring systems can detect and predict issues in critical infrastructure, enabling timely maintenance and reducing the risk of disruptions. AI will help mitigate future infrastructural risks thereby helping build cutting edge infrastructure for future India.

Economic Development or employment

AI has the potential to spur economic development in rural areas by fostering entrepreneurship and creating new job opportunities.

AI-powered tools can support small and medium-sized enterprises in rural communities, helping them streamline operations, improve product quality, and reach broader markets. This, in turn, contributes to the overall economic growth of the region.

AI-based training programs can equip individuals in rural areas with the skills needed for emerging job markets, fostering economic independence.

Connectivity and Communication

AI-driven technologies can improve connectivity in remote areas, providing better access to communication networks and the internet. Low-cost, AI-powered communication tools can facilitate information exchange and collaboration among community members.

AI will close the communication and technology gap between urban and rural India.

Conclusion

To sum it up, the imperative adoption of AI in rural India emerges as a transformative force, unlocking unprecedented opportunities across education, finance, agriculture, infrastructure, and connectivity.

This phenomenon of AI penetration in the rural landscape can be further strengthened when the skilled manpower in AI technology reaches rural india.

(The author is Chairperson of Quality Council of India; Views are personal)

8. Innovation in Farm Practices Must to Meet Food Basket Demand

ET, 30 Jan. 2024

The review also said that policy consistency and continuity that expand market and production choices for farmers, will be useful in encouraging them to adopt new technologies and practices.

Continuous innovation in farming practices, crop variety improvements and technology adoption are essential to meet the growing demands for diversified and nutritious food baskets, according to the review of the economy released by the economic division under the finance ministry, which pegs the growth in agriculture at 4% in FY23 as compared to the previous year.

The review also said that policy consistency and continuity that expand market and production choices for farmers, will be useful in encouraging them to adopt new technologies and practices.

With a total food production of 329.7 million tonnes in FY 23, an increase of 14.1 million tonnes compared to the previous year, India’s agriculture exports touched ₹ 4.2 lakh crore in FY23, surpassing the previous year's records.

With India being the second largest producer of fruits, vegetables, tea, farmed fish, sugarcane, wheat, rice, cotton and sugar, the country’s “farmers have demonstrated their capability to meet food demand of the rest of the world,” the review added.

The government has actively promoted digital inclusion and mechanisation to foster productivity, linking 1,389 mandis to the digital platform e-NAM (National Agriculture Market) in 2023 compared to 250 in 2016, facilitating the online trading of 209 agriculture and horticulture commodities. “The platform has witnessed the registration of over 1.8 crore farmers and 2.5 lakh traders, promoting market opportunities through a transparent price discovery system and online payment facility,” the review said.

The survey also points at the increasing contribution of women in agriculture, as the share of agriculture in the rural female workforce rises from 73.2% in 2017-18 to 76.2% in 2022-23, even as that of men decline 55% in 2017-18 to 49.1% in 2022-23.

9. Over 14.24 Crore (73.93%) Rural Households Now Have Tap Water Supply in Their Homes.

Press Information Bureau, Feb. 9, 2024

The Government of India is committed to providing safe and potable tap water to all rural households through the Jal Jeevan Mission (JJM) initiated in August 2019. State and UT governments are responsible for planning, approval, and implementation, with the central government offering technical and financial aid. Substantial progress has been made under the JJM, with over 11.01 Crore rural households now equipped with tap water connections, a significant increase from the 3.23 Crore households initially reported in 2019. Presently, out of the 19.27 Crore rural households in India, more than 14.24 Crore (73.93%) have access to tap water within their homes, per the latest data from States/UTs.

The Jal Jeevan Mission is a crucial step towards ensuring access to clean drinking water for rural communities, with the government's concerted efforts leading to a notable rise in tap water connections across the country. By enhancing water supply infrastructure and facilitating partnerships with states, the mission aims to fulfill the fundamental right to safe drinking water for every rural household in India. The progress made so far underscores the commitment to achieving universal access to potable water and improving the quality of life for rural populations through sustained efforts in water supply development.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

10. India paving the path for solar independence: A manufacturer’s outlook

The Financial Express, 13 Fev. 2024, Gautam Mohanka

In the grand symphony of progress echoing across time, India finds itself at the forefront of a transformative journey, pioneering the path towards solar independence. This monumental voyage is not merely a transition towards cleaner energy; rather, it signifies a profound commitment to redefine the narrative of our nation’s future. As we delve into the intricacies of this solar odyssey, the focus turns to the manufacturing sector, where the alchemy of industry converges with the imperative of environmental stewardship.

The narrative unfolds against the backdrop of an ever-evolving global energy landscape, and India’s foray into solar power stands out as a beacon of hope and vision. At the heart of this transformative narrative, manufacturers emerge as the architects of change, seamlessly integrating solar panels into the fabric of progress. Their unique vantage point offers a perspective that delves beyond kilowatts and gigawatts; it speaks the language of responsibility and acknowledges our role as custodians of the planet.

India’s solar journey is a testament to the confluence of governmental vision and entrepreneurial spirit. Policies incentivizing solar adoption, coupled with a burgeoning market, have paved the way for a robust manufacturing ecosystem. This synergy lays the foundation for a solar revolution with global implications, beckoning the world to follow suit.

From the expansive manufacturing plants, where the hum of innovation reverberates, to the polished boardrooms where strategies take shape, the commitment to solar independence resonates. The language spoken here is not one merely of production quotas and market shares; it is a dialect of responsibility, recognizing the role as stewards of the environment.

The discourse surrounding solar independence transcends the environmental domain; it is an economic narrative propelling India into the echelons of global leadership. The solar manufacturing sector becomes a catalyst for job creation, technological advancement, and economic resilience. It is a story of synergy where the environment and the economy coalesce harmoniously.

In this solar tapestry, manufacturers find themselves as both custodians and catalysts. Their commitment extends beyond profit margins; it is a covenant with the nation’s destiny. It is a delicate dance between progress and responsibility, where each solar panel produced becomes a stepping stone towards a greener and more self-reliant India.

The solar revolution also underscores the importance of indigenous innovation. As we nurture our capabilities in solar manufacturing, we not only secure our energy future but also position ourselves as leaders in the global solar landscape. The ‘Make in India’ ethos becomes tangible, finding expression in the gleaming expanse of solar farms that dot our nation.

Moreover, the solar journey is a narrative of inclusivity, reaching beyond urban landscapes to illuminate lives in the remotest corners of rural India. Manufacturers, through their commitment to solar independence, become agents of change, bringing light to communities that were once shrouded in darkness.

In the grand tapestry of this solar saga, India’s manufacturers emerge not just as stakeholders but as custodians of a vision. They embody a commitment, ingenuity, and resilience that propel India towards a future where the sun, our celestial ally, becomes the eternal source of our energy independence.

(Gautam Mohanka is the managing director at Gautam Solar.)

- Industry and Manufacture

11. Tata Advanced Systems partners with Boeing to manufacture composite assemblies for 737 MAX, 777X, 787 Dreamliner

ET Gov. 22 Jan. 2024

TASL will manufacture these components from its state-of-the-art composite manufacturing facilities located in Bengaluru and Nagpur.

In Telangana, the TASL-Boeing joint venture manufactures fuselages for the Apache helicopters and vertical fin structures for the 737 family.

Tata Advanced Systems Ltd (TASL) has signed a contract with Boeing Commercial Airplanes (BCA) to manufacture and supply advanced composite assemblies for Boeing 737 MAX, 777X, and 787 Dreamliner. TASL will manufacture these components from its state-of-the-art composite manufacturing facilities located in Bengaluru and Nagpur.

This contract further bolsters TASL’s endeavor to become the leading composite technology supplier in the global aerospace markets. With cutting-edge facilities and established capabilities, TASL consistently delivers precision, high quality, and globally competitive aerospace composite parts and assemblies, the company said in a press release.

“This is a significant step in our continued strong engagement with the Boeing Company. This contract will pave way for expanding and deepening the long-running collaboration between Boeing and Tata in co-developing India's vibrant and rapidly growing aerospace manufacturing ecosystem,” said Masood Hussainy, Senior Vice President and Head, Aero structures and Aero engines, Tata Advanced Systems.

“Our association with Tata Advanced Systems continues to evolve as they consistently manufacture critical components for Boeing’s platforms with quality and precision. This contract further underscores Boeing's commitment to advancing manufacturing capabilities with local partners, fostering growth in both India and global markets,” said Salil Gupte, President, Boeing India.

TASL also manufactures numerous critical systems and components for some of Boeing’s most advanced products from its facilities in Nagpur, Bengaluru, and Hyderabad. The recent contract supplements TASL's ongoing production of advanced composite floor beams exclusively for Boeing's 787 from its Nagpur facility. In Telangana, the TASL-Boeing joint venture manufactures fuselages for the Apache helicopters and vertical fin structures for the 737 family. Additionally, TASL’s manufacturing facility in Hyderabad recently added a new production line for the 737 Fan Cowl assemblies operating in coordination with the Nagpur and Bengaluru facilities, the company said.

TASL is committed to strengthening its partnership with Boeing while actively fostering the integration of India's aerospace capabilities into the global supply chain, it added.

12. Manufacturing Exports Are The Way Ahead

ET, 23 Jan. 2024

India is attempting to put manufacturing on steroids just about the time the over-dependence of China’s growth on investment is coming into question. Foreign investment is establishing beachheads in India to manufacture for the world. The notable accomplishment has been Apple’s decision to diversify its supply chain across Asia, including in India. New Delhi is eager that more manufacturing companies choose India as a production hub, and has offered investment sweeteners. The wait is on for the trickle of FDI to turn into a flood. Marquee names, such as Tesla, are being courted. Infrastructure is being created furiously to make the country hospitable to global manufacturing.

This would appear to be a perilous course with the Chinese model showing up its limitations. But it is the only available course for India to become an upper-middle-income country over the next quarter-century. Manufacturing’s share of economic output has been stagnating. Energy purchase creates persistent trade deficits. And services do not have the capacity to absorb excess labour from agriculture. Strong manufacturing exports solve all of these. Production capabilities on a global scale also get around constrained domestic consumption. Besides, India has fallen off its peak investment rate as credit locked up in dodgy lending was freed.

GoI is funnelling an increasing part of household savings into infra to revive private investment. RBI has imposed pre-emptive curbs on runaway consumer borrowing. India can afford to rebalance some demand away from consumption into investment. But it needs to exercise caution in overdoing it. The lesson from China is, social investment is as vital as physical investment for balanced growth. The immediate need is for an infrastructure upgrade to boost manufacturing. Down the line, the emphasis should switch to building an adequate social safety net that props up consumption lower down the ladder. It’s early days, though, for India and it can concentrate on building its manufacturing superstructure.

13. Centre to build 200 ropeways at Rs 1.25 lakh cr investment under Parvatmala Pariyojana: Gadkari

ET Gov. 24 Jan. 2024

An MoU was signed at the event by NHLML and IIT Roorkee for creating a center of excellence for ropeways and other innovative alternative mobility systems.

Union Minister for Road Transport and Highways Nitin Gadkari said on Tuesday that the government has identified more than 200 projects to be taken up at a cost of Rs 1.25 lakh crore in the next five years under the National Ropeways Development Programme 'Parvatmala Pariyojana'.

Addressing the 'Ropeway: Symposium-Cum-Exhibition' in New Delhi, the minister said, "Our foremost priority should be to make ropeways economically viable by bringing down the overall project cost and encourage public private partnership to develop the ropeway network in the country."

The minister said apart from facilitating tourism in the hilly areas, ropeways offer huge potential in urban public transport as well. Ropeways hold immense potential to positively impact tourism and job creation in the country. The focus should be on developing indigenous and cost-efficient solutions without compromising safety.

Two ropeway projects -- Bijli Mahadev Ropeway Project in Himachal Pradesh, and Dhosi Hill Ropeway Project in Haryana, were awarded to private firms. An MoU was also signed at the event by NHLML and IIT Roorkee for creating a centre of excellence for ropeways and other innovative alternative mobility systems.

Gadkari said the priority is to bring standardisation of existing policies and codes and transform the ropeway industry by encouraging the manufacturing of ropeway components under the 'Make in India' initiative.

The minister said 60 % construction support is provided under Hybrid Annuity Mode (HAM) for ropeways as compared to 40 % support provided under National Highways to attract more private players for development of ropeways under 'Parvatmala Pariyojana'.

The objective of the symposium-cum-exhibition is to enable industry collaborations between various Indian and global manufacturers, technology providers, concessionaires and infrastructure developers.

The event also provided a common platform for industry deliberation to promote 'Make in India' and develop a roadmap for localisation of ropeway components. Various panel discussions with industry experts were also held on building safer and affordable ropeway systems, while improving ropeway industry landscape and enhancing public private partnerships in India.

A session on promoting wayside amenities to improve public convenience was also held. In addition, the exhibition demonstrated state-of-art ropeway technologies by Indian and global ropeway equipment manufacturers in the aerial mobility ecosystem.

The day long event provided key insights and helped identify areas for development of policies to promote indigenous manufacturing and enhance capacity and capability of ropeway technology.

The symposium also underlined the pivotal role ropeways will play in the growth of Indian economy by enabling development of safer, cost-effective and sustainable mode of transportation under the National Ropeways Development Programme.

14. Gorilla Glass-maker Corning to invest US$ 120.3 million (Rs. 1,000 crore) in Tamil Nadu

IBEF, January 24, 2024

The state of Tamil Nadu announced a substantial investment of US$ 120.3 million (Rs. 1,000 crore) in a joint venture involving Corning, underlining India's growing significance as a manufacturing hub. The joint venture, Bharat Innovative Glass Technologies, is a collaboration between U.S. electronics manufacturer Corning, a prominent supplier for Apple, and Indian telecommunications company Optiemus Infracom.

This new facility, the first manufacturing plant since the JV's formation in September, will focus on producing front cover glass for mobile phones and phone components in India. While the state government did not specify the brands for which the glass would be supplied, it highlighted the strategic importance of Tamil Nadu in fostering this venture.

The establishment of this facility aligns with the ongoing global shift in supply chains away from China, benefiting the US$ 155 billion Indian electronics market. The Indian government's production-linked incentives, designed to boost local manufacturing, further support this positive trend.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

15. Scope to Add More Quality, Complexity to Our Exports

The Economic Times, 30 Jan. 2024

“There has been progressive diversification in India’s export basket, and there is scope for adding more quality and complexity to exports, given the existing capabilities” even though the export mix, in terms of the principal commodity classification, has not “changed much” over the years, the monthly review released on Monday said.

There is scope to add more quality and complexity to India’s exports, given the existing capabilities, according to the review of the economy released by the economic division in the finance ministry. It also cautioned that prices may go up because of higher energy costs, caused by the rise in shipping charges, with commercial vessels taking a longer route to avoid the troubled Red Sea region.

Also, India continues to chart its way forward as a preferred investment destination despite subdued global trends dictating the course of foreign direct investment (FDI) flows to the country lately, it said.

The FDI inflows were 2.5% of GDP during the period between 2014-15 and 2022-23 as against 2.2% during FY05-14, it said. As per the review, in terms of absolute numbers, the pick-up in total exports (merchandise plus services) has been evident since FY22, when it reached $683.7 billion, followed by $781.4 billion in FY23. The country’s net exports – or value of total exports minus total imports – too has improved in the last 10 years even as India continues to be a net importer. On an average, the share of net exports to GDP improved to (-)2.6% in FY14-24 from (-)4.1% during FY04-13, the review said. “India’s exports have been showing remarkable performance, logging record-high levels since FY22, with merchandise exports rising by more than 50% and services exports by 120% over the past decade (FY13-23),” it said.

The highest-yet annual merchandise export of $451.1 billion was achieved in FY23. However, the pace of growth moderated in FY23 due to persisting geopolitical tensions.

As per the review, the sharp increase in business services exports is also linked to the sudden proliferation of global capability centres (GCCs) in India. The availability of highly skilled talent capable of research and innovation, using high-end technology, and possessing managerial skills has led many global conglomerates to set up GCCs in India to support significant corporate functions.

The compound annual growth rate (CAGR) for FDI in India during FY13-23 was 28%, the monthly review said.

- Services (Education, Healthcare, IT, R&D, Tourism, etc.)

16. Hotels Set Table for the Big Fat Indian Wedding

ET, 20 Jan. 2024

Hotel chains have lined up new offerings to cater to the booming demand for wedding venues, seeking to build on the tourism ministry’s campaign aimed at encouraging couples from across the globe to tie the knot in India and Prime Minister Narendra Modi’s appeal to Indians to organise weddings within the country, said industry executives.

With growing demand for unique and off-beat destination wedding venues, Tata Group’s Indian Hotels Company Ltd (IHCL) is adding to its portfolio hotels that fulfill this need and also cater to diverse preferences of those looking at both traditional and unique locations, said Parveen Chander Kumar, executive vice president-sales and marketing at IHCL.

Radisson Hotel Group is building a “dedicated wedding concept” to bring all facets of the service under one roof, said KB Kachru, its principal advisor for South Asia.

Under the 'Wedding Diaries By Hilton' initiative, Hilton plans to personalise experiences with celebrity chefs and curate sustainable weddings aimed at reducing the carbon footprint in the country, said Manish Tolani, commercial director for India at Hilton. “Simultaneously, our F&B (food and beverages) offerings will expand, incorporating partners committed to conscious practices,” he said.

The tourism ministry, in August last year, launched a campaign to “unlock the potential of India’s huge wedding industry”. Prime Minister Modi, in his ‘Mann Ki Baat’ radio address in November, called for a ‘Wed in India’ campaign to stop people from the country from organising weddings abroad.

Hyatt announced the launch of ‘Perfectly Yours 2.0’ this week for couples who seek a “personalised” wedding experience. Kadmbini Mittal, regional vice president-commercial, India and Southwest Asia, at Hyatt India Consultancy, said the hotel chain has seen a 200% surge in its weddings business since 2019 and 50% since 2022.

“We have elevated our offerings in initiatives like Perfectly Yours 2.0 to align with the evolving preferences of modern couples. The new initiative extends beyond the wedding day, encompassing a holistic cultural experience throughout the celebration journey, through events like sangeet, mehendi and other cultural get-togethers,” said Mittal.

Wyndham Hotels & Resorts has launched ‘A Moment to Remember’, a marketing campaign tailored exclusively to the Indian wedding market, said its market managing director, Eurasia, Nikhil Sharma. “Our upcoming hotels prioritise wedding functions with purpose-built public spaces and banquets. Designed with versatility, the facilities include a separate banquet kitchen for both non-vegetarian and vegetarian cuisines,” he said.

Sharma said this wedding season outshines the ones in the past, with customers favouring hotels as their preferred venue. “The trend reflects a significant change in preferences, elevating the overall wedding experience for couples and guests alike,” he said.

Espire Hospitality Group CEO Akhil Arora said with domestic weddings getting more popular, the chain has introduced a dedicated weddings team at the group level for its ZANA-Luxury Escapes and Country Inn Hotels & Resorts properties.

“The team will be involved in ideating and creating stunning settings and experiences in the unique venues that we already have, flanked by the great Himalayan mountains, alongside tranquil lakes, in the midst of virgin forests or those bordering wildlife sanctuaries,” Arora said. “We have also introduced eco-friendly choices at Six Senses Fort Barwara, with no usage of plastic and paper materials in our organic spaces.”

The Leela Palace Bengaluru is launching a 10,000 square feet Maharaja Ballroom for “exquisite” celebrations in March, said Madhav Sehgal, area vice president for South India at The Leela Palaces Hotels and Resorts.

Radisson Blu Palace Resort, Udaipur, is looking at collaborating with influencers who have a strong presence in the wedding and hospitality segments, besides offering biodegradable décor and minimalistic designs to sustainable catering choices, said chairman Somesh Agarwal. “Notably, a significant number of non-resident Indians and domestic guests are choosing our venue. This heightened demand has prompted us to project a 40% increase in revenue,” he said.

The Grand Mercure Bengaluru at Gopalan Mall is developing all-inclusive destination wedding packages, besides investing in targeted digital marketing campaigns, said general manager Sachin Maheshwary.

Tamara Leisure Experiences CEO Shruti Shibulal said that the chain is looking at becoming a complete wedding destination. “From providing curated gourmet food, indoor and outdoor venues, and every facility required, including décor, photography, choreography, mehendi, organising religious ceremonies and even being a honeymoon getaway, we do it all,” she said.

“We have formed collaborations with top-tier brands to deliver a holistic solution to our esteemed guests.”

Novotel has designed ‘Shagun at Novotel’, under which it offers personalised gift hampers to the bride and groom’s guests, adding a special touch to their celebration, said Ranju Singh, complex general manager at Novotel Goa Candolim and Novotel Goa Resort & Spa.

17. India's first indigenous GenAI 'BharatGPT' unveiled, Government News

ET Gov. 21 Jan. 2024

BharatGPT integrates voice modality in more than 12 Indian languages and text modality in 22 languages, in collaboration with the National Hub of Language Technology (NHLT).

BharatGPT is expected to significantly contribute to our current projects in this domain.

CoRover.ai, a human-centric conversational AI platform unveiled India's first indigenous Generative AI LLM, BharatGPT. The platform, which aims to cater to over 130 crore users, was showcased at the 2023 Global Partner Artificial Intelligence Summit in New Delhi.

BharatGPT integrates voice modality in more than 12 Indian languages and text modality in 22 languages, in collaboration with the National Hub of Language Technology (NHLT). The NHLT is a key component of Digital India's efforts, tasked with executing the National Language Translation Mission (NLTM) under the ministry of electronics and information technology (MeitY).

Amitabh Nag, CEO of BHASHNI, commented on the collaboration and said, "The alliance between BHASHNI and CoRover, particularly with key clients such as IRCTC and NPCI, has showcased the scalability and innovative potential of AI and language technology. BharatGPT is expected to significantly contribute to our current projects in this domain."

BharatGPT also offers a sandbox environment for real-time API transactions. Besides, CoRover’s platform, enriched with BharatGPT, offers a range of features, including payment gateway integration, Aadhar-based authentication for KYC, and various AI components like speech-to-text, text-to-speech, and sentiment analysis. The technology is designed to efficiently break down language barriers, allowing users to communicate in their preferred language seamlessly.

Ankush Sabharwal, the founder of CoRover, said the mission of delivering a contextually adept large language model that caters to specific organizational needs. He also acknowledged the challenges of addressing global or national issues with a single model, underscoring the importance of customization.

18. Indian electronics maker Dixon expects near 50% revenue growth in 2024: Executive

IBEF, Jan. 24, 2024

Dixon Technologies (India) anticipates a nearly 50% surge in revenue for the current fiscal year, primarily driven by growth in its mobile phone business, according to Managing Director Mr. Atul Lall. Mr. Lall stated that the mobile phone segment is the significant growth catalyst, projecting a full-year revenue of US$ 2.16 billion (Rs. 180 billion ) by March, with 40%-50% originating from mobile phone manufacturing and assembly.

This estimate exceeds the approximately US$ 1.5 billion (Rs. 122 billion) reported in the last financial year. Dixon reported US$ 1 billion (Rs. 82.18 billion) in revenue for the six months ending December 31, slightly below half of Lall's full-year prediction. The company, which commenced color television production in India in 1994, now operates 23 manufacturing plants in the country, catering to clients such as Samsung and Germany's Robert Bosch.

The US$ 155 billion Indian electronics market benefits from global manufacturers diversifying their supply chains away from China. The Indian government's production-linked incentives further support companies like Dixon. As the focus shifts towards localizing manufacturing components and raw materials, Dixon and other electronics makers align with the evolving landscape of assembling imported parts.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

19. Lemon Tree to Branch Out, Open 30 New Hotels this Year

ET, 07 Fev. 2024

Lemon Tree Hotels plans to open 30 new properties in the country this calendar year, potentially adding more than 2,000 rooms, as the hospitality chain remains bullish on middle-class consumers driving demand.

Patanjali Keswani, chairman and MD of Lemon Tree Hotels told ET in an interview that this year’s expansion will include the opening of a Lemon Tree resort in Bhutan and the launch of 3-4 hotels and resorts in Nepal. Last year, the BSE-listed company had launched 1,375 new rooms across 14 hotels, including India’s biggest hotel — the 669-room Aurika Mumbai Skycity.

The company said it is expanding in key tier-1, 2 and 3 markets, including Jaipur, Gurugram, Jamshedpur, Meerut, Jabalpur and Thiruvananthapuram, as well as important leisure, pilgrim and wellness destinations such as Goa, Udaipur, Kumbhalgarh, Somnath, Dehradun and Kanha.

It is also looking to expand its Aurika Hotels & Resorts brand with two new resorts. The 110-key Aurika, Kasauli is slated to open towards the end of this year, and the 132-key Aurika Rishikesh will open early next year.

“The large Indian chains will drive consolidation in the hospitality sector through lower inventory hotels, because the economics or cost structure of international chains doesn’t support this kind of expansion at present,” Keswani said.

He said more conversions will drive the growth of Lemon Tree Hotels this fiscal year. “I had said we will cross 10,000 rooms. Of which, 60% will be owned by us. We opened India’s biggest hotel in Mumbai. Now our operating-owned inventory is close to 6,000 and our managed inventory is about 4,500 rooms. So put together its 10,500. We are there,” said Keswani.

Lemon Tree on Tuesday declared revenue from operations of ₹289 crore for the quarter ended December 31. The chain clocked a profit of ₹44 crore for the third quarter of this fiscal year. The chairman said: “We will sign another 3,000-4,000 rooms. A lot of this is conversions, which could mean standalone hotels or some other branded hotels getting into our portfolio.”

20. India on par with the world in AI adoption: Satya Nadella

Mint, 8 Feb. 2024

The Microsoft chief said the Silicon Valley giant will provide AI skills to 2 million people in India

India may have been slow to wake up to the four seismic shifts in technology, but not the fifth: Artificial intelligence (AI).

Microsoft Corp. chief executive Satya Nadella on Wednesday said AI is the first ‘platform shift’ where India has kept pace with the world in the development of technology. The four previous shifts were personal computers, internet, mobile devices and cloud computing.

“This is the first time I feel what’s happening in India and what’s happening in the rest of the world—there is no impedance (delay), there is no gap," he said, as he pitched his company’s AI prowess to a packed house at the Microsoft CEO Connection event in Mumbai.

“If anything, the use cases here are so unique... and are paving their own path. And that’s what’s exciting. We’re not just talking about AI; we’re scaling AI," the India-born Nadella said about the adoption of AI in the country.

Nadella, who has been at Microsoft for 32 years and has completed 10 years as its CEO, said the Silicon Valley giant will provide AI skills to two million people in India.

Interestingly, the guest list for Wednesday’s event was put together by Microsoft’s Copilot chatbot, said Puneet Chandok, its president for India and South Asia.

Nadella drew attention to the Indian electronics and IT ministry’s estimate that AI could add around $500 million to India’s gross domestic product (GDP) by 2025 as the country reaches its aspiration of becoming a $5 trillion economy. India’s nominal GDP is currently pegged at $3.7 trillion.

The Microsoft top boss drew parallels to the industrial revolution era in Great Britain, where laying rail roads—the revolutionizing technology of the day—accounted for as much as 10% of the GDP.

“When you have a new general-purpose technology, how intensely you invest in deploying it across sectors inside the economy makes a difference to a country’s prospects going forward," Nadella said.

The business leader, widely credited for turning Microsoft around with the launch of the Azure cloud computing platform, evangelized the importance of AI to the future of businesses.

He said just as personal computers drastically improved productivity in the workplace, so will AI.

“This age of AI is really expertise at your fingertips," Nadella said.

“Think what happened to forecasting. Before personal computers, before emails and spreadsheets, how did we do forecasting? And then how did the business process of forecasting change? Same thing is happening now," he said.

Meanwhile, Tata Communications Ltd said on Wednesday that it had partnered with Microsoft to provide flexibility in collaboration and connectivity on Microsoft Teams for enterprises in the country.

India and the World

21. Ayush poised to become world leader in holistic health & wellness: Sarbananda Sonowal

ET Gov. 8 Fev. 2024

Global acceptance of Indian Traditional Medicine Systems of India has now placed much responsibility on Ayush sector. Not only should the education system, but also the health delivery, products and services of Ayush be the best in the world.

Whole World has now recognised the power of Ayush System: Sarbananda Sonowal

Ayush is now poised to become the world leader in the realm of holistic health and wellness. This was stated by Sarbananda Sonowal, Union Minister of Ayush.

Sonowal was speaking at the inauguration ceremony for the new office building of National Commission of Indian System of Medicine (NCISM) at Punjabi Bagh (West), New Delhi on Feburary 7.

During his address, the Union Minister highlighted the role of the whole government approach of Government of India and said that this decade of Ayush is all about tremendous growth, and infusing traditional medicine systems of India in public health delivery.

“After the formation of the Ministry of Ayush, way back in 2014, a lot has changed in the Ayush sector. Ayush is now well-known across the globe. Under the guidance and visionary approach of Prime Minister Narendra Modi, Ayush is flourishing in unprecedented ways and the whole world has now recognized the power, efficacy and inclusive nature of Ayush systems of Medicine,” Sonowal said.

The Union Minister also talked about the role that NCISM is playing in advancing Ayush Education through innovation, new learning and interactive modules.

He said, “Global acceptance of Indian Traditional Medicine Systems of India has now placed much responsibility on Ayush sector. Not only should the education system, but also the health delivery, products and services of Ayush be the best in the world.”

Union Minister also inaugurated the new “Padam Shree and Padam Bhusan Vaidya Devendra Triguna Sadan” building of Akhil Bhartiya Ayurveda Mahasamelan, and released the book titled, 'Ayurveda Kritattva Parichya Kosh' authored by RAV Guru, Vaidya Tarachand Sharma.

In the inaugural session, the Union State Minister of Ayush and Women and Child Development Dr. Munjpara Mahendrabhai lauded the 10 years achievements of the Ministry of Ayush through a video message.

Secretary, Ministry of Ayush, Vaidya Rajesh Kotecha highlighted the achievements of NCISM and National Commission for Homoeopathy (NCH). He said that both the commissions have done commendable work in aligning Ayush education to New Education Policy 2020. NCISM Chairman Vaidya Jayant Deo Pujari pointed out the pioneering work of the Commission.

Vaidya Devendra Triguna, Chairman, Akhil Bhartiya Ayurveda Mahasammelan, Dr. (Prof.) Tanuja Nesari, Director AIIA, Dr. Meena Kumari, Director, NIS, Dr. Sanjeev Sharma, Vice Chancellor NIA Jaipur, along with dignitaries from various organisations and NCISM office bearers were present at the ceremony.

22. Russia has already started to seek out alternative sources of bananas from countries including India, it has emerged.

Fruitnet, 06 Fev. 2024, Mike Knowles

Country’s phytosanitary authority Rosselkhoznadzor suggests import volume will increase, Reuters reports

Earlier this week, the country suspended around a quarter of its banana imports from Ecuador in a dispute over military hardware, although it claimed the ban was for alleged phytosanitary breaches.

According to Reuters, Russia intends to increase the volume of bananas it imports from India, and has already taken delivery of its first shipment.

It quoted Russian agency Rosselkhoznadzor as saying “the volume of exports of Indian bananas to the Russian market will increase.”

A separate report in UK newspaper, The Independent, meanwhile, suggested India was also keen to supply other fruits including mangoes, pineapples, papaya and guava.

Ecuador’s banana industry has defended its phytosanitary record and said it would work to resolve the dispute.

23. Factors that help India's IT sector growth in 2024 amidst global economic uncertainty

ET Gov. 14 Feb. 2024

With progressive government policies and a commitment to innovation, the sector is poised to reach new heights, targeting a $500 billion valuation by 2030.

Factors such as cloud infrastructure advancements and industry-specific solutions contribute to the sector's positive outlook.

As India's IT sector braces for the economic challenges of 2024, it remains steadfast in its commitment to sustainable growth and innovation. Despite projections of a softer year ahead, the sector continues to be a beacon of opportunity, driving technological advancements and fostering talent development as per Taggd's, India Decoding Jobs.

A cornerstone of India's economic transformation the IT sector stands as a cornerstone of country's economic transformation, contributing significantly to the nation's GDP and serving as a catalyst for rapid growth and development. With progressive government policies and a commitment to innovation, the sector is poised to reach new heights, targeting a $500 billion valuation by 2030.

Resilience Amidst Economic Turbulence

SaaS companies within the IT realm demonstrate resilience amidst economic storms, leveraging India's cost competitiveness and skilled talent pool to drive growth. Factors such as cloud infrastructure advancements and industry-specific solutions contribute to the sector's positive outlook.

Fueling Opportunity

With over 5.4 million direct and indirect jobs, the IT sector remains a significant employer in India, offering opportunities for professionals across various domains. Emphasis on innovation and skill development continues to create avenues for growth in software development, data analytics, and AI.

Fostering Global Competitiveness

Government initiatives prioritize cybersecurity, hyper-scale computing, and AI, positioning India as a preferred destination for IT staffing and sourcing solutions. Affordable data rates and strategic partnerships with global firms further enhance India's appeal as an IT hub.

Achieving Equilibrium and Fostering Innovation

As India's IT industry evolves, a strategic focus on achieving equilibrium between input costs and output remains essential. Additionally, fostering a human-centered culture and prioritizing talent progression are critical for long-term success in a post-pandemic landscape.

Decoding Hiring Intent-2024 and Adapting to Changing Dynamics

While the IT sector anticipates a marginal increase in hiring intent, trends indicate varying demands across experience levels, gender diversity, and workforce composition. Strategies to bridge the skills gap, embrace emerging opportunities, and fortify cybersecurity defenses are imperative.

Way Forward - Embracing Innovation and Sustainability

Despite economic headwinds, the IT sector remains resilient, driven by advancements in AI, cloud computing, and sustainable technologies. Investments from global players like AWS underscore India's potential as a leader in sustainable computing and cloud services.

Conclusion: A Bright Future Ahead

As India's IT sector navigates the challenges of 2024, it remains poised for sustainable growth and continued innovation. With a strategic focus on talent development, technological advancements, and environmental sustainability, the sector is well-positioned to shape India's economic future positively.

24. Indians’ Experiments with Spirits Giving Irish Distillers a High

ET, 16 Feb.2024

Irish Distillers chairman Nodjame Fouad expects India to be its second-largest market globally, driven by premiumisation and consumers experimenting across spirits after the Covid-19 pandemic.

For the maker of Jameson whiskey, India has outpaced more than a dozen countries in the past three years to be its third-largest market, compared with 17th in 2020.

“India is a strategic market for us. It has quickly emerged to be one of our top markets. It has been, over the last number of years, growing in a way that it has outranked other markets. And we hope in the future for it to be our number two market. Our second-largest market is currently South Africa and our number one market is the United States. We will hopefully get there in the coming years,” Fouad told ET. “India is a strategic market for us. There’s a massive consumer base. It’s a large whisky market, so we look at it as an important market for the strategic development of Jameson.”

With 400 million cases of spirits sold in 2023, India is the largest market for whisky, a segment that accounts for two-thirds of all liquor sold in the country. Despite pressure on mass priced brands, premium spirits across segments have been relatively insulated from the overall consumer slowdown, spurred by higher consumption among millennial drinkers as well as a growing middle class, which has gradually shifted to the pricier drinks.

For instance, Scotch sales nearly doubled in India to 7.5 million cases (of nine litres each) in 2022, compared with 3.9 million cases in 2020. However, the interest in Scotch in India can obscure the strides made by other imported whiskies. For instance, in 2015, sales of US whisky were less than 50,000 nine-litre cases but by the end of 2022, sales had quadrupled, surging 70% in 2022 alone, according to an IWSR report. However, US whisky’s performance was bettered by Irish whisky, specifically Pernod Ricard's Jameson, indicating that distribution and availability are the best accelerators of sales.

“In 2015, annual sales of Irish whisky were less than 10,000 nine-litre cases. There were still only 50,000 cases in 2019, a level that US whisky had already achieved by 2015. But by 2021, Irish whisky outsold US whisky by 50,000 nine-litre cases, rising to 100,000 cases a year later,” said the IWSR report. “Between 2018 and 2022, Irish whisky sales have risen almost tenfold and growth was 80% in 2022 alone. Lockdowns were a key driver of growth for both US and Irish whisky, stimulating investigation, experimentation and repeat purchase.”

In India, Jameson is by far the market leader in its segment, with about 95% share. The brand is also among the top ten largest selling whisky brands in the world. Irish Distillers is a subsidiary of French spirits firm Pernod Ricard, and with 76% compounded annual growth rate between 2017-22, Jameson is the fastest growing whisky in its portfolio.

Being segment or age agnostic has helped Jameson attract appreciation from consumers with different taste palettes, said the company.

25. Germany Overtakes Japan as Third-Biggest Economy

ET, 16 Feb. 2024

Once forecast to become the world’s biggest economy, Japan slipped below Germany last year to fourth place, official data showed Thursday, although India is projected to leapfrog both later this decade.

Once forecast to become the world's biggest economy, Japan slipped below Germany last year to fourth place, official data showed Thursday, although India is projected to leapfrog both later this decade.

Despite growing 1.9 percent, Japan's nominal 2023 gross domestic product in dollar terms was $4.2 trillion, government data showed, compared with $4.5 trillion for Germany, according to figures released there last month.

The change in positions primarily reflects the sharp fall in the yen against the dollar, rather than the German economy -- which contracted 0.3 percent in 2023 -- outperforming Japan, economists said.

The Japanese currency slumped by almost a fifth in 2022 and 2023 against the US currency, including around seven percent last year.

This was in part because in an effort to boost prices the Bank of Japan has maintained negative interest rates, unlike other major central banks which have raised borrowing costs to fight soaring inflation.

"The overtaking... in size in dollar terms owes a lot to the recent collapse in the yen. Japan's real GDP has actually outperformed Germany's since 2019," said Fitch Ratings economist Brian Coulton.

Germany's heavily export-dependant manufacturers have been hit particularly hard by soaring energy prices in the wake of Russia's invasion of Ukraine.

Europe's biggest economy has also been hampered by the European Central Bank raising interest rates in the eurozone as well as uncertainty over its budget and chronic shortages of skilled labour.

- Falling population -

Japan is also heavily reliant on exports, in particular cars, although the weak yen -- making exports cheaper -- has helped big firms like Toyota offset weakness in key markets such as China.

But it is suffering more than Germany in terms of worker shortages as its population falls and birth rates remain low, and economists expect the gap between the two economies to widen.

Thursday's data showed that Japan's economy shrank an adjusted 0.1 percent quarter-on-quarter in the last three months of 2023, missing market expectations of 0.2 percent growth.

Growth for the third quarter was also revised downward to negative 0.8 percent, meaning that Japan was in technical recession in the second half of 2023.

"Like Japan, Germany's population has been declining, but it has nevertheless achieved steady economic growth," said Toshihiro Nagahama, economist at Dai-ichi Life Research Institute.

"This is because, especially since the 2000s, the government authorities in Germany have been actively implementing policies to create an environment that makes it easier for companies to operate in the country," he said.

- Soul-searching -

During its boom years of the 1970s and '80s some projected that Japan would become the world's biggest economy.

But the catastrophic bursting of Japan's asset bubble in the early 1990s led to several "lost decades" of economic stagnation and deflation.

When in 2010 Japan was overtaken as number two by Asian rival China -- whose economy is now around four times larger -- it prompted major soul-searching.

While largely a product of the yen's slide, falling behind Germany will still be a blow to Japan's self-esteem and add to the pressure on unpopular Prime Minister Fumio Kishida.

More humiliation is to come with booming India projected to overtake Japan in 2026 and Germany in 2027 in terms of output -- although not in GDP per capita -- according to the International Monetary Fund.

Germany and Japan "are shrinking in terms of contribution to global growth in favour of faster-growing ones... because their productivity is already very high and it is very hard to increase it," said Natixis economist Alicia Garcia-Herrero.

"Of course, both Germany and Japan could take measures to mitigate this. The most obvious one is allowing for more immigration or increasing the fertility rate," she told AFP.

Japan "has not made progress in raising its own growth potential," Japanese financial daily the Nikkei said in a recent editorial.

"This situation should be taken as a wake-up call to accelerate neglected economic reforms."

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AAPI

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Monday 19 February 2024

Newsletter - February 2024

– GENERAL POLICY, INFRASTRUCTURES, COUNTRY FINANCES, ETC.

– AGRICULTURE, FISHING & RURAL DEVELOPMENT

– INDUSTRY, MANUFACTURE

– SERVICES (IT, R&D, Tourism, Healthcare, etc.)

NEWSLETTER, FEBRUARY 2024

– GENERAL POLICY, INFRASTRUCTURES, COUNTRY FINANCES, ETC.

- Agriculture, Fishing and Rural Development

- Industry and Manufacture

- Services (Education, Healthcare, IT, R&D, Tourism, etc.)

India and the World