AAPI: September 2023

DELHI, September 2023

Index of this Newsletter

INDIA

INDIA & THE WORLD

21. WHO Global Summit signifies increased role of India in the field of Traditional Medicine
22. BRICS expansion: 6 more countries to be members–Argentina, Iran, UAE, Saudi Arabia, Ethiopia, Egypt
23.‘ India’s ePublic Infra Model to Reach 50 Nations in 5 Years’
24. Taiwan sees India as next growth frontier, over 250 Taiwanese companies invest US$ 4 billion in India
25. India’s Presidency Will Help Drive Transformative Changes: UN Chief

* * *

DELHI, SEPTEMBER 2023

NEWSLETTER, SEPTEMBER 2023

INDIA

– GENERAL POLICY, INFRASTRUCTURES, COUNTRY FINANCES, ETC.

1. Technology best tool to eliminate inefficiency and opacity in judicial processes: CJI Chandrachud

ET Gov. 17, Aug. 2023

The apex court is planning to expand its building, CJI said the new building will have 27 additional courtrooms, 4 registrar courtrooms and adequate facilities for lawyers and litigants.

Chief Justice of India DY Chandrachud said "technology is the best tool at our disposal to eliminate the inefficiency and opacity surrounding the judicial processes. We have to tap into the full potential of technology to overcome the procedural barriers to justice. In pursuance of this, we are implementing the Phase III of the e-Courts project."

Phase III of the e-Courts project seeks to revolutionize the working of courts in India by inter-linking all courts across the country, setting up the infrastructure of paperless courts, digitization of court records, and setting up advanced e-sewa kendras in all court complexes, he said.

Advt

"Our aim is to create a judicial system that is more accessible, cost-effective, and affordable for every individual who seeks justice. We are already striving to make the court premises and court services disabled-friendly. For instance, we have operationalized screen-readable website and case files to remove the barriers faced by the blind community in accessing the court services," the CJI said.

CJI acknowledged institutions such as media, bureaucracy, political parties, and voluntary organisations and said that they also have an important role in bringing development to constitutional democracy. He said that each institution has contributed to the development of this democracy and the legislature, executive and judiciary have been committed towards nation-building.

Supreme Court building to be expanded as part of judicial infrastructure overhaul

The Chief Justice said the apex court was planning to expand its building. CJI said the new building will have 27 additional courtrooms, 4 registrar courtrooms and adequate facilities for lawyers and litigants.

Asserting the need to overhaul judicial infrastructure at the earliest, he said that in the first phase, the museums and annexure building will be demolished to create 15 courtrooms, meeting rooms for Supreme Court Bar Association (SCBA) and Supreme Court Advocates-on-Record Association (SCAORA) and women's bar rooms.

Advt

In the Second Phase, some demolition of the existing building will take place to create 12 additional courtrooms, the CJI said.

He also apprised the gathering about the proposal submitted to the Central government and that the file is now with the Department of Justice.

Later, he also mentioned about Prime Minister Narendra Modi's address at the Red Fort, where the PM said the apex court has decided that the operative part of the judgments will be translated into the litigant's language.

CJI said that till now 9,423 judgments have been translated into regional languages including 8000 plus judgments in Hindi. He said that they aim to translate all 35,000 judgments in all Indian languages and this will also facilitate the use of regional languages in courts.

2. India-Middle East-Europe Economic Corridor redeems India’s quest for trust, trade in the region: Minister

ET Gov. 11 Sep. 2023

The signing of an MoU on IMEC was announced by the Prime Minister Narendra Modi after co-chairing a special event with the US President Joe Biden on Partnership for Global Infrastructure and Investment (PGII) and IMEC, on the sidelines of the G20 Summit in New Delhi yesterday.

An India-Middle East-Europe' economic corridor including shipping and railway links will be launched soon, sources said on Saturday.

The India-Middle East-Europe Economic Corridor (IMEC) redeems post-Partition India’s quest for restoring an extended and deeper connectivity in the region. It will address obstacles created by Pakistan' s denial of over-land access and China’s connectivity designs in the region.

This was stated by Dr. Jitendra Singh, Union Minister of State (Independent Charge) Science & Technology, while he was briefing the media about the outcomes of the G20 India Summit.

Advt

"Personally, it instantly took me to the 'Kabuliwala' days of pre-Partition India," the Minister said, striking a sentimental chord.

The IMEC comprises an Eastern Corridor connecting India to the Gulf region and a Northern Corridor connecting the Gulf region to Europe. It will include a railway and ship-rail transit network and road transport routes. The MOU on IMEC was signed by India, USA, Saudi Arabia, UAE, European Union, Italy, France and Germany.

Quoting Prime Minister Modi, Jitendra Singh said better connectivity not only results in increased trade, but it also serves as a source of growing trust. The IMEC will help overcome the obstacles created by Pakistan and China’s own designs, he said. “So, India has found a way out whereby it would not only connect for reasons of economics, but also connect for the reasons of greater cohesiveness among the world community,” he said.

Dr Jitendra Singh said the G20 Delhi Declaration dealt with contentious issues like Ukraine “without being evasive and in a very justifiable way”.

“The Declaration admits that the G20 mandate is to act as a forum for economic cooperation, but at the same time, since the aftermath of the war results in economic distress, "we note with deep concern the immense human suffering and adverse impact of wars and conflicts around the world".

Advt

In Vietnam, President Joe Biden talked about the India-Middle East-Europe Economic Corridor. He said that IMEC represents a new partnership that will save money, increase the global South's capacity to grow and provide impetus to economic development

"The new partnership will connect India to Europe with the Middle East and Israel with transportation by rail and by shipment through energy supplies and digital connections that are going to open up untold opportunities for transformative economic investment on that entire corridor," the US President said during a press conference in Vietnam's Hanoi.

based surveillance to avert mishaps, an initiative of Railways">

3. AI-based Surveillance In Elephant Corridors: Elephant corridors to have AI-based surveillance to avert mishaps, an initiative of Railways

ET Gov. 11 Sep. 2023

The Northeast Frontier Railway (NFR), which operates in the northeastern states and in seven districts of West Bengal and five districts of north Bihar, has introduced an Artificial Intelligence based surveillance mechanism in elephant corridors to prevent elephant deaths due to train hits.

In an attempt to arrest the case of elephant deaths because of collision with speeding trains the Railways is adopting AI based technologies.

The NFR recently signed a Memorandum of Understanding (MoU) with RailTel Corporation of India Ltd, for installation of Intrusion Detection System (IDS) to avert train-elephant collision and have disaster mitigation measures.

Advt

NFR Chief Public Relations Officer Sabyasachi De said that the Railways has been taking many initiatives to prevent and detect movement of wild animals, especially elephants, approaching the tracks.

Installation of IDS in important sections is one such measure.

After 100 per cent success of the pilot project on IDS that was undertaken by the NFR in the Chalsa - Hasimara section of the Dooars area under Alipurduar Division in West Bengal and the Lanka - Hawaipur section under Lumding Division in Assam, it has now been decided to install the system gradually in all other elephant corridors in NFR jurisdiction.

De said that the system is based on Artificial Intelligence (AI) and existing optical fibres would be used as sensors to identify movements of wild animals at locations and alert control offices, station masters, gatemen and loco pilots.

It uses a fibre optic based acoustic system working on the principle of dialysis scattering phenomenon to sense the real time presence of elephants on the track.

The AI based software can monitor unusual movements up to a stretch of 60 km.

In addition to it the IDS would also help in detecting rail fracture, trespassing on railway tracks and alert about disaster mitigation due to unauthorised digging near railway tracks, landslides near tracks etc.

Advt

The pilot project has already been immensely successful in saving the lives of many elephants approaching the railway tracks, the CPRO said.

There were 11 elephant corridors in 2012 and they increased to 80 last year.

Through the IDS, movement of elephants can be detected 30-40 minute in advance and therefore an alarm can be generated in real time for detection of elephants near the tracks. Audio visual alarm will be provided to the station master, central control system, level crossing gate for instant alerts.

It will help in increasing the mobility of rail transport over the NFR region by enhancing the speeds on elephant corridors.

The other benefits of the IDS system include identifying digging near the track along the monitored route, being able to identify any fibre cut in the monitored section, identification of train presence - train tracking for LC gates in case the gate is open.

This system will also be helpful in getting timely clearance from the ministry of forest and environment for new lines and projects passing through wildlife sanctuaries or national parks.

According to the latest census, India is home to 27,312 elephants and of them Assam is home to 5,719 elephants, the second largest pachyderm population in India after Karnataka (6,049).

In all, 21 elephants were killed due to accidents with running trains, electrocution and other mishaps last year, while eight have died so far this year. According to reports, between 2012 and 2022, a total of 30 elephants died in Assam and 55 in West Bengal due to train hits.

Assam's Forest and Environment department officials said that 71 elephants, including calves, were killed in 2021 mainly due to train hits, poisoning, electrocution, and accidental deaths, including falling into ponds and ditches, and lightning strikes.

The officials said that 118 people have lost their lives since last year in the state due to human-elephant conflict.

At least 73 people were killed due to elephant attacks last year, while 45 have died so far this year. The victims included many women.

4. Every sector in India, Saudi Arabia attractive for investment: Saudi Minister Khalid Al Falih

ET Gov. 13 Sep. 2023

Speaking on the India-Middle East-Europe Economic Corridor, the Saudi Minister said the economic corridor linking India through the Middle East and primarily Saudi and UAE as also Oman and other nations all the way to Europe is going to be equivalent to the Silk Route and spice road combined for this millennium.

Saudi Arabia Minister of Investment Khalid Al Falih on Monday said every sector in Saudi Arabia and India is attractive for investment.

"I think every sector in Saudi Arabia and India is attractive for investment. ..........Saudi Arabia has the most ambitious integrated vision in the world and beyond our great market which is today underserved......we have a plan and the intent for Saudi Arabia to be the platform to serve the Middle East, Africa, western Asia..." he said.

Speaking on the India-Middle East-Europe Economic Corridor, he said the economic corridor linking India through the Middle East and primarily Saudi and UAE as also Oman and other nations all the way to Europe is going to be equivalent to the Silk Route and spice road combined for this millennium.

He further said that from the Saudi side, there is great appetite to not only invest in oil and gas in India in petrochemicals but also in green energy, new energy and technology and telecommunications and manufacturing and defence, food culture movies.

Meanwhile, India and Saudi Arabia have recognized that the India-Middle East-Europe Economic Corridor is "one of the biggest plurilateral agreements connecting several countries."

Secretary of Consular, Passport and Visa Division (CPV) and Overseas Indian Affairs (OIA) Ausaf Sayeed on Monday said India, Saudi Arabia "recognised this as one of the major outcomes of the G20. It is one of the biggest such plurilateral agreements connecting several countries..."

He said that the corridor "is actually connecting our like-minded partner countries in different geographic zones which is extremely important...It is something which we are all looking forward to. It would need close coordination and work with all the partner countries in that."

The CPV & OIA Secretary made the remarks during a special briefing on the State Visit of the Crown Prince and Prime Minister of Saudi Arabia Prince Mohammed bin Salman bin Abdulaziz Al Saud to India.

India, USA, UAE, Saudi Arabia, France, Germany, Italy and the European Union have signed a Memorandum of Understanding (MoU) to establish the India-Middle East-Europe Economic Corridor

The corridor will encourage and provide impetus to economic development through enhanced connectivity and economic integration between Asia, West Asia, the Middle East and Europe, as per sources.

The India-Middle East-Europe Economic Corridor will consist of two separate corridors, the East corridor connecting India to West Asia/Middle East and the Northern corridor connecting West Asia/Middle East to Europe.

It will include a rail line, which upon completion, will provide a reliable and cost-effective cross-border ship-to-rail transit network to supplement the existing multi-modal transport routes enhancing transhipment of goods and services between South East Asia through India to West Asia/Middle East Europe.

Connectivity with countries of the region remains a key priority for India and is deeply rooted in Indian civilizational history. India has always stood to invest, cooperate and build connectivity as part of "One Earth, One Family, One Future".

Currently, Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud is in Delhi on a three-day visit. Saudi Arabia Crown Prince Mohammed bin Salman Al Saud and Prime Minister Narendra Modi on Monday held a bilateral meeting in New Delhi.

External Affairs Minister S Jaishankar, National Security Advisor Ajit Doval and others were present in the meeting.

5. PSB loans in 59 Minutes: Rs. 68,636 crore (US$ 8.25 billion) worth of loans have been disbursed to MSMEs till August 1

IBEF, Aug. 21, 2023

Since the launch of the 59-minute loan portal in November 2018, credit sanctioned under the government and Small Industries Development Bank of India’s (SIDBI) 59-minute loan approval scheme for MSMEs-PSB loans in 59 Minutes, increased to 246,997 involving Rs. 85,054 crore (US$ 10.23 billion) as of August 1, 2023.

According to the data from the MSME Ministry's dashboard, 228,118 loans of Rs. 68,636 crore (US$ 8.25 billion) were issued out of the total loans sanctioned. In contrast, up until July 2022, 224,002 loans of Rs. 66,471 crore (US$ 7.99 billion) were disbursed.

An MSME can obtain a business loan from Rs. 1 lakh-5 crore (US$ 1,203.34-601,670), according to the loan portal. The preferred lender, selected by the borrower before submitting the application determines whether to sanction/disburse the loan amount, after receiving digital approval.

While there is no price for registration, the borrower must pay a fee of Rs. 1,000 (US$ 12.03) to receive digital approval if their loan proposal matches one of the lenders' loan packages.

The information and paperwork submitted by the borrower on the portal and with the selected bank will determine how long it takes for the loan to be disbursed. The loan should typically be sanctioned or released in 7-8 working days after receiving digital approval.

Furthermore, although the borrower can apply for the loan without submitting any collateral security, the bank has the option to do so, as per the information on the portal.

Along with Mudra loans, MSMEs can apply for term loans and working capital loans to buy new equipment, advance technology, extend product lines, procure raw materials, and build infrastructure, among other things.

According to the data from the Reserve Bank of India on monthly sectoral deployment, in June 2023, Rs. 21.14 lakh crore (US$ 250 billion) of India's total non-food bank credit worth Rs. 143.6 lakh crore (US$ 1.73 trillion), or 14.7% of India's total non-food bank credit, was deployed in the MSME sector, up from Rs. 20.20 lakh crore (US$ 240 billion), or 14.5% of India's total non-food bank credit worth Rs. 138.5 lakh crore (US$ 1.67 trillion), in May 2023.

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

- Agriculture, Fishing and Rural Development

6. West Bengal to get investment of Rs 1 trillion in maritime sector, transform into a trade hub: Minister

ET Gov. 15 Aug. 2023

“West Bengal is poised to receive investment worth Rs 1 trillion in the maritime sector and that will make the state a maritime hub in near future. In view of the above, active and wholehearted participation of trade and industries in the improvement and development of port infrastructure and other ancillary facilities in India is imperative."

Maritime sector is the lifeline of the Indian economy contributing more than 90% of EXIM cargo by volume and about 70% by value.

“Private sector is an essential partner in propelling the growth of India’s maritime sector and Public Private Partnership (PPP) has immensely contributed in development of new ports and augmentation of capacity in the existing ports. PPP terminals, which are currently handling about 50% cargo at major ports, are striving to raise their share to 100% in the coming decades.”

This was stated by Sarbananda Sonowal, Union Minister of Ports, Shipping & Waterways, in Kolkatta. Sonowal was speaking at the road show organised by Syama Prasad Mookerjee Port (SMPK) for the ensuing Global Maritime India Summit, 2023 (GMIS).

“I take this opportunity to urge all of you for your earnest participation at the forthcoming GMIS to “Connect, Collaborate and Create" with global investors and become partners of Atmanirbhar Bharat. Kolkata, with its rich maritime heritage and strategic location, plays a pivotal role in the maritime sector in enabling and empowering the eastern part of India. Maritime sector is the lifeline of the Indian economy contributing more than 90% of EXIM cargo by volume and about 70% by value,” Sonwal said.

Along with the Union Minister, the road show was attended by Bhushan Kumar, Joint Secretary (SM), MoPSW; Rathendra Raman, Chairman, SMPK; A.K. Mehera, Dy. Chairman, HDC; Samrat Rahi, Deputy Chairman, SMP Kolkata; Government Officials, Industry Captains, Stakeholders, trade bodies and Chambers of Commerce.

7. Strong demand to drive revenue growth of 14-16% for organised dairy industry, says CRISIL

IBEF, Aug. 18, 2023

According to a CRISIL estimate, India's organised dairy industry will see revenue growth of 14-16% this fiscal due to strong demand for value-added products (VAP) and consistent consumption of liquid milk.

Furthermore, it was stated that when the supply of raw milk improved, there would be fewer price increases and that as a result, profitability would increase by 20-50 basis points.

According to CRISIL Ratings' analysis of 38 dairies, which represented about 60% of the organised segment's income, given their sound balance sheets, organised dairies' credit profiles will continue to be solid.

Mr. Mohit Makhija, Senior Director, CRISIL Ratings said, “We believe the strong revenue growth in value-added products (VAP) seen over the past few years will continue. This fiscal, the segment should grow 18-20% and consequently, the share of VAP in overall revenue could rise to ~40% from ~35% four fiscals back.”

It further stated that organised dairies have been urged to invest money in capital projects in both the current fiscal year and the one next, particularly for VAP, which will make up 60% of the budget. This fiscal year, the industry's overall revenue is expected to increase by 14-16% due to good volume growth of 9-10% and greater realisations.

Mr. Anand Kulkarni, Director, CRISIL Ratings said that the milk price hikes will be much less intense this fiscal at around Rs. 2 per litre compared with a cumulative Rs. 5-7 per litre last fiscal, primarily because of two reasons — improvement in raw milk supply on better availability of fodder, and timely vaccination and artificial insemination of cattle.

As capex will be funded by a responsible combination of debt and equity, it was said that the credit risk profiles are anticipated to stay steady. As of March 31, 2024, gearing is considered as comfortable at 1.4 times, up from 1.3 times the previous year. In addition, interest coverage will be excellent this fiscal year, at 9-9.5 times, up from 9.5-10 times the previous fiscal year.

A healthy rise in milk collection and improvement in supply-side variables would be crucial moving forward, according to CRISIL, for the stability of retail milk pricing.

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

8. Tabreed Telangana Asia's Largest Cooling Project: Tabreed partners with Govt of Telangana to set up Asia's largest district cooling project in Hyderabad

ET Gov. 7 Sep. 2023

K.T Rama Rao with Khaled Abdulla Al Qubaisi and Jayesh Ranjan

Government of Telangana has partnered with Tabreed, a global cooling utilities company, to develop cooling infrastructure for industrial and commercial parks to reshape the cooling landscape in India.

Starting with the award of the largest district cooling Public-Private Partnership (PPP) project in Asia for Hyderabad Pharma City (HPC), Tabreed will develop 125,000 RT of district cooling plants and networks, investing up to $200 million to provide more sustainable long term cooling services through a utility cooling as a service model for process cooling and storage requirements of industrial units.

The first-of-its-kind, ground-breaking initiative will bring multi-fold benefits through integration of highly reliable solutions, superior cost-efficiency, and unprecedented economies of scale, resulting in 6,800 GWh of power savings and 41,600 mega litres of water savings, and paving the way for reduced greenhouse gas emissions by saving 6.2 million tons of CO2 over the project lifetime. This pioneering endeavour is set to revolutionize the pharmaceutical industry's cooling practices, contributing to a cleaner and greener environment for various bulk drug manufacturing facilities.

Government of Telangana also signed a Memorandum of Understanding with Tabreed to explore district cooling infrastructure in existing and upcoming commercial districts of Cyberabad and other mixed use development areas which offer potential to reduce over 200 MW of peak electricity demand resulting in CO2 reduction of 18 million tons over a 30 year period while mitigating heat island effect that will further bolster Hyderabad’s position as one of the best cities to live and work in Asia.

Speaking on the momentous occasion, K.T Rama Rao (KTR), Minister for Urban Development, Industries & Commerce and Information Technology for the State of Telangana said, “As we embark on a journey towards a more sustainable future, we are delighted to partner with Tabreed, exemplifying Government of Telangana’s commitment to environmental stewardship through embracing innovative and implementable solutions. By prioritizing cooling as a key action area through cool roof policies and energy-efficient district cooling, we are shaping a greener and healthier environment for our communities by contributing significantly to our ambitious vision of making Telangana net-zero by 2047”.

Sudheer Perla, Country Head, Tabreed India said, "Meeting our cooling demand through solutions that foster responsible and reduced energy consumption has emerged as a key priority in efforts to meet energy transition, security or sustainability goals for India, as is evidenced by the recent launch of District Cooling Guidelines by the Ministry of Power through the Bureau of Energy Efficiency. We are thrilled to be leading this transformation with the Government of Telangana. Through this MoU, we aim to showcase the benefits of district cooling to drive sustainable infrastructure development in the region and contribute to Telangana's vision of becoming a model for eco-friendly urbanization.”

Khaled Abdulla Al Qubaisi, Chairman of Tabreed, said, "The collaboration between Tabreed and Government of Telangana represents a watershed moment in the evolution of sustainable infrastructure development. By bringing our expertise in district cooling to the world's largest net zero pharmaceutical cluster, we are not only shaping the future of the industrial clusters, but also setting a powerful precedent for environmental responsibility. Large-scale energy consumption towards cooling is one of the key drivers of greenhouse gas emissions and through this joint undertaking with Government of Telangana, Tabreed is proud to contribute to India’s journey in achieving Net Zero emissions, with Telangana at the forefront”.

9. Skill India Digital Platform Launched

ET, 14 Sep. 2023

The government on Wednesday launched the Skill India Digital Platform to bring all skilling initiatives under a single umbrella, and provide skill development and entrepreneurial support to people.

The government on Wednesday launched the Skill India Digital Platform to bring all skilling initiatives under a single umbrella and provide skill development and entrepreneurial support to people. More than 264 skilling courses from 42,623 centres from across the country will be available under the platform, which will also provide opportunities for job exchange, apprenticeship, and entrepreneurship.

Skill India Digital Platform application can be downloaded on the app store and Google Play Store and is available in multiple Indian languages, according to an official statement.

Dharmendra Pradhan, Union Minister for Education and Skill Development and Entrepreneurship, said India's unique focus on Digital Public Infrastructure (DPI) was aimed at building digital networking accessible to all, including plans to provide optical fibre infrastructure to six lakh villages in the next three years.

He said these initiatives would significantly benefit the neo-middle class and the middle class.

"Driven by the vision to make skill development more innovative, accessible, and personalised in its embodiment, focusing on digital technology and Industry 4.0 skills, the state-of the-art platform will be a breakthrough in accelerating skilled talent hiring, facilitating lifelong learning and career advancement," the statement said.

The platform aligns with the vision articulated in the G20 framework for building DPI and the digital economy, it said.

It is also a comprehensive information gateway for all government skilling and entrepreneurship initiatives -- a go-to hub for citizens in pursuit of career advancement and lifelong learning, according to the statement.

"Skill India Digital is at the intersection of two of the most important components of PM Modi ji's vision for New India -- Skill India & Digital India," Rajeev Chandrasekhar, Minister of State, Skill Development and Entrepreneurship & Electronics, IT, said.

"These are powerful schemes with the sole objective of preparing the youth with future-ready skills. This will help create many opportunities. In this post-Covid world, there is a tremendous awareness of digital skills and Skill India Digital will enable entrepreneurship and future-ready workforce," he said.

Addressing the media on the sidelines of the event, Chandrasekhar said the government has plans to scale the reach of the Skill India Digital platform as the entire workforce of 50 crore people is potentially a target, along with all students studying in the sixth standard and above.

"We certainly want this app to become as exciting and aspirational as Insta Reels or other platforms," he said.

"My assessment is that jobs in the Digital market are growing 2.5 times as compared to those in the non-digital space," he said, in response to a question.

During the event, several MoUs were signed with leading organisations to advance digital skilling, fostering industry participation, and enhancing learner engagement, the statement added.

10. The President of India inaugurated the first global symposium on farmers' rights

Press Information Bureau, Sep. 13, 2023

On September 12, 2023, Ms. Droupadi Murmu, the President of India, officially inaugurated the First Global Symposium on Farmers' Rights in New Delhi. The President stated during her speech that the farming community is the world's foremost conserver and that they are the true guardians of crop diversity.

She added that farmers are bestowed with exceptional power and responsibility. She stressed that it is important for all of us to recognise the farmers' efforts to protect and revive varieties of species and plants.

The Food and Agriculture Organisation (FAO), Rome, is hosting this symposium through the International Treaty Secretariat on Plant Genetic Resources for Food and Agriculture (International Treaty). The Union Ministry of Agriculture and Farmers Welfare, in collaboration with the Protection of Plant Varieties and Farmers' Rights (PPVFR) Authority, the Indian Council of Agricultural Research (ICAR), the ICAR-Indian Agricultural Research Institute (IARI), and the ICAR-National Bureau of Plant Genetic Resources (NBPGR), are hosting this symposium.

According to the President, India is a mega-diverse nation with only 2.4% of the world's land area but is home to 7-8% of all known species of plants and animals. She mentioned that India is one of the countries with the greatest diversity of plants and animals. She added that in terms of biodiversity, India ranks as one of the nations endowed with the widest range of plants and species.

Furthermore, she added that our country’s farmers have laboured and conserved local varieties of plants, domesticated wild plants, and nurtured traditional varieties that have provided building blocks for crop breeding programmes, ensuring food and nutritional security for both humans and animals.

According to the President, since 1950-51, India's production of food grains, horticulture, fisheries, milk, and eggs has increased significantly, having a noticeable effect on the country's food and nutrition security. She emphasised that the government’s support together with the efforts of agro-biodiversity conservers, hardworking farmers, scientists, and policymakers had been crucial in advancing numerous agricultural revolutions in the nation.

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

- Industry and Manufacture

11. Bharat NCAP: Govt to launch Bharat New Car Assessment Programme to enhance safety standards.

ET Gov. 21 Aug. 2023

This programme is a significant step forward in the government’s commitment to improve road safety through raising the safety standards of motor vehicles up to 3.5 tonnes.

Based on the performance in the tests, cars will be awarded star ratings for Adult Occupants (AOP) and Child Occupant (COP). Union Minister of Road Transport and Highways Nitin Gadkari will launch the much-awaited Bharat New Car Assessment Programme (Bharat NCAP) on Tuesday (August 22). This programme is a significant step forward in the government’s commitment to improve road safety through raising the safety standards of motor vehicles up to 3.5 tonnes in India, the Ministry of Road Transport & Highways (MoRTH) said in a statement on Sunday.

The programme aims to provide a tool to the car customers to make a comparative assessment of crash safety of motor vehicles available in the market. Under Bharat NCAP, car manufacturers can voluntarily offer their cars tested as per Automotive Industry Standard (AIS) 197.

Advt

Based on the performance in the tests, cars will be awarded star ratings for Adult Occupants (AOP) and Child Occupant (COP). Potential car customers can refer to these star ratings to compare the safety standards of different vehicles and accordingly make their purchase-decision.

It is expected that the demand for safer cars will increase, encouraging the car manufacturers to comply with customer needs. With high safety standards, Indian cars will be able to compete better in the global market, increasing the export potential of the car manufacturers in India. The programme is expected to develop a safety sensitive car market in India, the ministry added.

12. According to CRISIL Ratings, the footwear sector will see an 11% revenue growth and a 4% rise in volume

IBEF, Aug. 23, 2023

According to CRISIL Ratings, the Indian footwear industry's revenue is expected to grow by 11% this fiscal year due to increased realisations and an increase in volume of 4%. Because of lower raw material prices, the operating margin is anticipated to increase by around 125 basis points to 9%, but it will remain below the 10% pre-pandemic levels.

In the most recent fiscal year, the cost of essential inputs including rubber, resins, and ethylene vinyl acetate decreased by 30%. 45% of the cost of making shoes is made up of raw materials. Their credit profiles will remain steady because of the robust balance sheets and cash accrual that result.

This is confirmed by a CRISIL Ratings examination of 43 of them, which account for 15% of the Rs. 100,000 crore (US$ 12.05 billion) in industry revenue. Due to high inflation, which reduces demand from Europe and the US, which account for three-fourths of India's footwear exports, exports, which make up a fifth of the sector's revenue, are expected to decrease this fiscal year to 12% growth from 25% growth in the previous fiscal. As pent-up demand from the epidemic persisted over the past fiscal, exports increased. On the other hand, an expected 10% increase in domestic revenue is mostly attributable to higher selling prices.

Compared to price increases implemented in the past to offset more expensive raw materials, the increase in average selling price this fiscal will primarily be caused by a shift in the product mix towards higher-priced categories. Mr. Nitin Kansal, Director of CRISIL Ratings, states that following the epidemic, footwear makers have been focusing focus on the fast-growing fashion/women and athleisure categories, which mostly fall in the luxury category with average selling prices of Rs. 1,000 (US$ 12.05) per pair, or more. Compared to the industry, these categories are anticipated to expand faster, at a rate of over 15% yearly. Additionally, this segment's operating profitability is higher, at 18%.

Given that capacity utilisation is now at about 70%, footwear firms should only experience minimal capex. Additionally, it is anticipated that the working capital cycle will stay consistent, limiting the need for additional loans. Improved cash flows, sound balance sheets, and minimal capital expenditure will keep credit profiles stable, says Mr. Gaurav Arora, Associate Director at CRISIL Ratings. “Companies that we rate are anticipated to invest Rs. 300 crore (US$ 36.2 million), marginally increasing fixed assets by 5%. As a result, this fiscal year, we anticipate gearing and interest coverage to be at 0.4 times and 7 times, respectively,” he added.

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

13. According to Mr. RC Bhargava, Chairman, Maruti Suzuki, the company intends to invest Rs. 45,000 crore (US$ 5.43 billion) to double annual capacity to 40 lakh units in eight years

IBEF, August 30, 2023

According to Mr. RC Bhargava, Chairman, Maruti Suzuki, in the next eight years, Maruti Suzuki India plans to invest almost Rs. 45,000 crore (US$ 5.43 billion) to quadruple its production capacity to 40 lakh cars yearly. The company will also take up suggestions by shareholders for a stock split to its board for consideration.

Since it is difficult to predict what will happen in the next eight to ten years in terms of new technologies, he said Maruti Suzuki will also deal with a lot of technologies, including electric vehicles (EVs), hybrids, CNG, ethanol-blended, and use of compressed biogas going forward.

He further mentioned that the company has reached two million in production and sales in 40 years and now preparing to add two million in the next eight years while the focus is also to double the turnover of the company in its third phase of the journey.

The time ahead will be extremely tough and uncertain. It will cost close to Rs. 45,000 crore (US$ 5.43 billion) just to put up these 2 million autos. Depending on how inflation plays out, it is currently projected that 2 million cars will cost roughly around the same amount.

Under 'Maruti 3.0' the company is targeting to add another 20 lakh units of production capacity with about 28 different models in the market by FY31.

Mr. RC Bhargava stated to the shareholders in the company’s annual report that the first phase of the company was when it was a public enterprise. The second phase ended with the COVID pandemic, and the Indian car market became the third largest in the world. He also reiterated the need for a structural reorganisation of the company in view of its future growth prospects.

He added that the production of six models between 2024-25 and 2030-31 will give the company a very good position in the market and that the company management, all of its employees, engineers, and Suzuki Japan "have all carefully assessed the total environment for electric vehicles in India. He also stated that the company will regain its market share going forward with efforts of company to strengthen its presence in the fast-growing SUV segment after witnessing a dip due to the decline in demand for small cars.

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

14. 38 Cos Apply for IT Hardware PLI 2.0

ET, 31 Aug. 2023

The revised production-linked incentive (PLI) scheme for IT hardware has received an “excellent” response from 38 companies, including global ones such as HP, Dell, Lenovo and Foxconn as well as local maker Dixon Technologies.

They have proposed incremental investments of over ₹4,000 crore for additional production worth ₹3.35 lakh crore over the coming six years.

“We have got excellent response for the production of personal computers (PCs), laptops and servers in India,” Union IT and telecom minister Ashwini Vaishnaw said at a briefing Wednesday.

He expects more applications beyond the 38 received before the window for fresh entrants closes Wednesday midnight.

The PLI scheme for IT hardware offers incentives to make laptops, tablets, all-in-one PCs, servers and ultra small form factors in India. “We had had an outlay of ₹17,000 crore for this (PLI IT scheme), but have received proposals worth ₹22,880 crore,” Vaishnaw added.

Global applicants also include Asus, Acer and Thompson, along with local ones such as VVDN Technologies.

According to Vaishnaw, the scheme beneficiaries will generate direct employment in excess of 75,000 jobs.

The government late May notified the second phase of the PLI scheme for IT hardware with a budgetary outlay of ₹17,000 crore, more than doubling the incentives in the initial version of the plan, aimed at attracting global companies to manufacture in India.

As of April-May FY24, 81% of personal computers and laptops were imported from China. In FY23, the share was 77%.

The first version of the scheme had failed to take off, with only Dell and Bhagwati (Micromax) of the 14 approved companies meeting the first year’s (FY22) targets. Companies had cited inadequate sops as the main reason for the failure of PLI 1.0.

The interest in the revised scheme comes in the backdrop of India’s recent move to restrict the import of laptops through a licensing regime from November 1 onward due to national security reasons. Some experts said it also served to push local manufacturing through the PLI scheme. “The updated PLI scheme underscores our unwavering support for the Atmanirbhar Bharat Initiative in the electronics sector,” Acer India chief business officer Sudhir Goel told ET.

HP India echoed this.

“We welcome the PLI scheme for IT hardware manufacturing and look forward to exploring new opportunities to meet the growing demand for PCs,” a spokesperson said

Under the scheme, global companies will have to invest Rs 500 crore in a span of six years, while hybrid and domestic companies will have to invest Rs 250 crore and Rs 20 crore, respectively.

The revised scheme extends an average incentive of around 5% — more than double the 2% incentive offered in the previous version — to make laptops, tablets, all-in-one PCs, servers and ultra small form factors in India. The new scheme also has added flexibilities in both the tenure and investments for participants. While the total tenure of the scheme is six years, applicants have the choice to choose 2023, 2024 or 2025 as the base year for investment and calculating incremental sales.

15. Apple plans to sell made-in-India iPhones on the launch day for the first time

IBEF, Sep. 13, 2023

On the first day of global sales, Apple Incorporation intends to release the India-made iPhone 15 in India as well as some other areas, according to people with knowledge of the situation.

People familiar with the situation stated that even if the vast majority of iPhone 15s were made in China, it would be the first time a gadget of the most recent generation was made in India and offered on the first day of sales.

It would also highlight India's increasing industrial prowess and mark a big change from Apple's prior strategy of marketing primarily new products built in China to irate customers all over the world. After its debut, the new iPhone 15 is anticipated to be on sale in a few days or weeks.

Cupertino, California-based Apple began iPhone 15 production at supplier Foxconn Technology Group’s factory in southern Tamil Nadu state last month. That move was yet another effort by the US tech giant to further narrow the gap between its India operations and its main manufacturing bases in China.

At a gala event at its US headquarters, Apple is scheduled to unveil the iPhone 15, new watches, and AirPods. After a new product is unveiled, sales usually start about 10 days later.

Before the iPhone 14, India produced less than a quarter of Apple's total output and was behind China's output by six to nine months. Last year, Apple substantially cut that delay down to just a few weeks, and by the end of March, it was assembling 7% of all iPhones in India.

India has been a key component of the iPhone maker's effort to diversify owing to Prime Minister Mr. Narendra Modi's financial incentives to increase domestic manufacturing and Apple's desire to move outside of China amid a trade war between the United States and China.

The iPhone 15 will likely represent the biggest change to the handset in the past three years. The camera technology will be enhanced across the board, and the Pro models will get a better 3-nanometer processor. To revive sagging sales, the new lineup is crucial. Due to weak consumer demand in important markets like the US, China, and Europe, Apple revealed its third consecutive quarter of falling sales in August.

Apple, which established its first stores in India this year, sees the rapidly expanding market as both a retail opportunity and, in the long run, a significant production base for its gadgets. Apple stated without providing specific figures that iPhone sales in India increased to a new high for the quarter ending in June.

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

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

16. Chennai Plus One, Apple of the Eye

ET, 18 Aug. 2023

Apple’s production in India of the iPhone 15, slated for launch next month, sends out a strong message of intent about its desire to diversify out of China. Near-simultaneous release opens up scope for iPhone shipments from India. By closing the delay in production in the two countries, Apple’s contract manufacturers are demonstrating capability to retool supply chains. GoI will also have further proof of execution over PLIs it is offering mobile handset-makers to build a local vendor ecosystem. Most importantly, however, Apple’s commitment to India has a demonstration effect on other global manufacturing companies. A large chunk of them have exposure to India through software services. Success in mobile handset manufacturing opens up bigger possibilities for IT hardware companies. It is great optics as well.

Something similar has occurred in the past in the automobile and motorcycle industry. Suzuki’s success with domestic manufacturing drew a host of car- and bike-makers to India. India’s automobile industry has acquired fairly robust localisation levels, which the IT hardware industry will try to replicate. GoI has a hierarchy of incentives tied to value addition, with the biggest going into semiconductor chip-making even as computer-makers are being nudged to taper imports as local output slides. What sets the current round of ‘Make in India’ — or, at least, ‘Assembled in India’ — apart is that unlike the automobile industry, which made cars to be sold in the country and similar emerging markets, IT hardware exports are being pitched for advanced economies. The new platform for domestic manufacturing is being set up to deliver a higher level of quality. Few other companies can sell that idea to the world better than Apple.

Apple’s production in India is already showing up in job creation by the mobile handset industry. The scope for employment generation in IT hardware manufacturing is yet to be tapped, apart from ancillary employment — like those for drivers and mechanics once car-making took off in earnest.

17. IT Hub of India: Bengal looks to emerge as India’s next IT hub

ET Gov. 21 Aug. 2023

The government will provide digital backbone, over which companies will develop products: Rajeev Kumar, principal secretary, IT and electronics

Babul Supriyo, West Bengal minister for IT and electronics

The West Bengal government, which is looking for a digital transformation with the help of technology experts, has set a target to make the state the next IT hub of India.

“The state government is trying hard to make Bengal the next IT hub of India. If the companies want to address a new market with a lot of facilities and incentives given by the government, their first choice should be Bengal,” said Babul Supriyo, West Bengal minister for IT and electronics, while addressing the 8th TechMeet of the Assocham in New Town on Friday.

“It is our job to bring Bengalis back to Kolkata. We need to use human intelligence to decide and understand what Bengal needs. Bring your ideas and invest in Bengal,” the minister said at the technology meet, which threw light on artificial intelligence (AI) and tech innovations, new-age technologies and cyber security. Assocham conferred the ‘Technology Excellence Awards’ on industry leaders at the event. The minister urged the industry players to invest in the IT parks that have already come up in Bengal.

Advt

Rajeev Kumar, IPS, principal secretary (IT and electronics), said, “The government will provide digital backbone, over which companies will develop products. AI will reach its potential soon. So we have to adjust to it .”

18. NavIC Support to Become Must for All Smartphones

ET, 15 Sep. 2023

The government will make it mandatory for smartphones to integrate with the made-in-India navigation system NavIC, the minister of state for electronics and information technology Rajeev Chandrasekhar said on Thursday.

The devices can either provide support for NavIC-powered chips or use NavIC chipsets, he added. While 5G phones will need to provide mandatory support for NavIC by January 1, 2025, all other phones operating in the L1 band that currently use the Global Positioning System (GPS) will need to provide mandatory NavIC support by December 2025, he said.

Chandrasekhar said that Apple extending its support for the Indian Space Research Organisation’s NavIC was a significant achievement. “The idea and the goal today is that wherever we have the capability in India, we will certainly start pushing platforms to incorporate these in their products. Wherever we have these capabilities, the aim is to incentivise companies to use them as well,” he said.

The government’s push to include NavIC support in navigation systems of mobile phones, 5G-enabled devices and automobiles assumes significance as iPhone maker Apple has agreed to support the protocol in some of the newly launched iPhone 15 models.

“It is conceivable that in the coming future, as mobile phone and chip design mature and reach the granularity and the sophistication required for mobile devices, the chips that power mobile devices will be NavIC chips,” Chandrasekhar told reporters in the capital on Thursday.

The government will also look to provide incentives for companies that use Indian NavIC chips in their design systems, Chandrasekhar said.

This doesn’t mean that NavIC will be mandated as the sole navigation system that can be used by device-makers, whether they are mobile phone makers or automobile companies, Chandrasekhar said.

“In the digital ecosystem today, as much as the governments will mandate the use of particular platforms or solutions or technology, you cannot mandate anything that is not cost or performance competitive. If the iPhone as a global platform and a global device recognises that NavIC is a competitive GPS solution, it is a vindication of NavIC,” he said.

NavIC, or Navigation with Indian Constellation, is a homegrown alternative to systems such as the widely used GPS. NavIC currently has seven satellites up in space and ISRO aims to increase this to 12 in the coming years.

Since January, the government has been in talks with device makers to ensure that support for NavIC is provided by default when the device is rolled out from the assembly line. While the government had pushed for December 2025 as the final deadline for providing this feature, device manufacturers had raised concerns over a possible increase in the cost of the devices due to the mandate.

Sources said that with Apple agreeing to provide NavIC support in some of its devices, the government would now look to “talk to and wherever possible incentivise other device makers as well to adopt these standards”.

19. Amazon India: India's Digital Economy: Amazon launches new initiatives to boost India's digital economy, exports

ET Gov. 01, Sep. 2023

The company also announced to introduce a generative AI-based personal digital assistant for sellers and opened its logistics and supply chain capabilities to direct-to-consumer (D2C) brands across the country.

E-commerce giant Amazon on Thursday announced a slew of initiatives to boost India’s digital economy and exports, along with an MoU with India Post for an integrated cross-border logistics solution.

E-commerce giant Amazon on Thursday announced a slew of initiatives to boost India's digital economy and exports, along with an MoU with India Post for an integrated cross-border logistics solution.

The move will expand the e-commerce exports opportunity to lakhs of micro, small and medium enterprises (MSMEs) across the country. Additionally, Amazon is engaging with Indian Railways' Dedicated Freight Corridor Corporation of India (DFC) to enable its sellers deliver faster to their customers across the country.

"We had recently announced an incremental investment of $15 billion in India across all our businesses by 2030 and will continue to be a partner in India's growth in the 21st century", said Amit Agarwal, SVP India and Emerging Markets, Amazon during the 'Amazon Smbhav Summit' here.

India Post and Amazon also unveiled a commemorative postal stamp that celebrates the partnership between Amazon and India Post in reaching out to customers in 100 per cent serviceable pin codes.

"I am delighted to know about Amazon's commitment to digitising 10 million MSMEs, enabling 2 million jobs, and driving $20 billion in e-commerce exports from India by 2025," said Dr Jitendra Singh, Minister of State (Independent Charge) for Science and Technology.

"For lakhs of small businesses across India, digitisation can offer economic growth, broader customer reach, reduced marketing & distribution expenses, and access to foreign markets" Singh added. The announcements followed Amazon CEO Andy Jassy's meeting with Prime Minister Narendra Modi during his state visit to the US in June.

"We are focused on investing long-term in physical and digital infrastructure and building cutting edge technology solutions to serve customers and enable Indian businesses to scale and grow in India and globally, thus contributing to India's rising digital economy," said Manish Tiwary, Country Manager India Consumer Business, Amazon India.

20. India could be the world's largest AI exporter: Nvidia CEO Mr. Jensen Huang

IBEF, Sep. 11, 2023

According to Nvidia founder and Chief Executive Officer (CEO) Mr. Jensen Huang, Nvidia plans to establish the world's largest artificial intelligence (AI) workforce, and India may become the world's greatest exporter of AI products and personnel. He further added that “India will produce and export more AI expertise than any other country. AI could also be its largest export”.

Nvidia plans to upskill and reskill every engineer in the firm as part of its mission to be a leader in AI. Mr. Huang said “Every single engineer will be an AI engineer. AI will not take your job. The person who uses AI will take your job. So, we need to make sure that our engineers are the most productive, efficient and can build the most important things”.

The California-based corporation will reskill more than 600,000 employees of Tata Consultancy Services (TCS), India's largest IT services company, in AI as part of its bigger skilling initiatives for the entire ecosystem. Mr. Huang also stated that the company would like to collaborate with other IT service providers as well as Indian colleges to train personnel and students about artificial intelligence.

Nvidia employs approximately 2,200 people in India, out of a total workforce of over 27,000 people spread across 50 countries. In the upcoming years, it intends to more than double its headcount in the nation.

The company is investing heavily in the startup environment, collaborating on AI projects with 15,000 startups worldwide, including those in India. Earlier this week, Prime Minister Mr. Narendra Modi met with Mr. Huang to discuss India's potential in the field of artificial intelligence.

The Prime Minister posted about the meeting in a social media post “Had an excellent meeting with Mr. Jensen Huang, the CEO of @nvidia. We talked at length about the rich potential India offers in the world of AI. Mr. Jensen Huang was appreciative of the strides India has made in this sector and was equally upbeat about the talented youth of India”.

Nvidia first established operations in India in Bengaluru in 2004. Since then, it has expanded to four engineering development centres in Gurugram, Hyderabad, Pune, and Bengaluru, employing around 3,800 people across the country.

Furthermore, the company collaborates with 320,000 developers in India who are members of Nvidia's developer programme in the country. Nvidia reported revenue of US$ 13.5 billion for the second quarter ended June, growing 101% year on year and 88% year on year, driven by the global AI boom.

In 2022-23, the corporation generated US$ 27 billion in sales and has over 7,500 granted and pending patent applications worldwide. Nvidia describes itself as the "world's engine for AI".

According to the company, Nvidia AI technologies are used to build and run services from tech giants such as Alibaba, Amazon, Google, Meta, Microsoft, Snap, Spotify, Tencent, and 40,000 other companies.

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

India and the World

21. WHO Global Summit signifies increased role of India in the field of Traditional Medicine

Press Information Bureau, Aug. 22, 2023

Union Minister of Ayush Mr. Sarbananda Sonowal said that the ever first Global Summit on traditional medicine organised by World Health Organisation, and co-hosted by Ministry of Ayush, in Gandhinagar has proved to be historic in many ways. He said, “the main outcomes of the global summit will be soon released by World Health Organisation in the form of Gujarat declaration. In the summit, WHO has shared the initial findings of the global survey on Traditional Medicine that clearly indicates that the reach of Traditional Medicine is on rise across the globe. As per WHO the final survey will be released in November this Year”.

“Gujarat Declaration will emphasise that the importance of Traditional Medicine is recognised for attainment of UHC and WHO’s commitment to work toward it through evidence generation and policy support to member states”, the Minister reiterated.

Talking about the increasing acceptance of Traditional Medicine worldwide, Sonowal said that initial findings of the latest Global Survey on Traditional Medicine by World Health Organisation were also placed before the summit participants and were deliberated upon. He further added that the final survey will be released in November this year. Initial findings of this survey tell us that 97 out of 157-member states of WHO have National Policies regarding Traditional Medicine.

The Union Minister also talked about emerging fields in Traditional Medicine and said, “Digital Health Services are in demand globally, and there is tremendous potential in Traditional Medicine to provide evidence-based health services to the entire mankind These were discussed in detail in this Summit and in coming days lot of important work will happen through Global Centre of Traditional Medicine of Jamnagar. “

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

22. BRICS expansion: 6 more countries to be members–Argentina, Iran, UAE, Saudi Arabia, Ethiopia, Egypt

ET, 27 Aug. 2023

The South Africa president mentioned the success of Chandrayaan-3 mission to the moon while inviting Prime Minister Modi to deliver a speech. PM Modi, in his speech, backed BRICS expansion while advocating for a “multi-polar" world order.

The five current members of BRICS–Brazil, Russia, India, China and South Africa–have decided to allow six more countries to become members. The new members include Argentina, Iran, the United Arab Emirates, Saudi Arabia, Ethiopia and Egypt.

South Africa's President Cyril Ramaphosa delivered an address on August 24 and declared the names of the new members while announcing the summit's outcomes.

"We have consensus on the first phase of this BRICS expansion process. We have decided to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates to become full members of BRICS," Ramaphosa said at the end of the grouping's summit in Johannesburg.

This move holds the potential to open the doors for numerous interested countries to align with a coalition committed to championing the interests of the "Global South". Official sources are informing that a few more countries are likely to become members.

This is the second time that BRICS has decided to expand. The bloc was formed in 2009 by Brazil, Russia, India and China. South Africa was added in 2010. The BRICS bloc currently represents around 40% of the world's population and contributes more than a quarter of global GDP.

Three of the group's other leaders, Brazilian President Luiz Inácio Lula da Silva, Prime Minister Narendra Modi and Chinese President Xi Jinping, are attending the summit and were present alongside Ramaphosa for the announcement of BRICS expansion.

The South Africa president mentioned the success of Chandrayaan-3 mission to the moon while inviting Prime Minister Narendra Modi to deliver a speech. PM Modi, in his speech, backed the expansion while advocating for a “multi-polar" world order. He also spoke at length about India's achievement in space research.

23. ‘India’s ePublic Infra Model to Reach 50 Nations in 5 Years’

ET, 28 Aug. 2023

A global coalition of multilateral organisations including the World Bank and the International Monetary Fund, led by external affairs minister S Jaishankar, will take India’s digital public infrastructure (DPI) model to 50 countries in the next five years, Nandan Nilekani, chairman of Infosys and founder-chairman of the Aadhaar project, said on Sunday.

“So, over the next few years, you will see the proliferation of how this new way of thinking about digital infrastructure at population scale, using an open architecture, is going to be more and more ubiquitous and prevalent around the world,” Nilekani said, speaking at the B20 Summit in the national capital.

The DPIs will also play a critical role in climate adaptation and mitigation to facilitate the increasing need for cash transfers to fortify vulnerable areas and people, and emergency funding after extreme climate events like floods. “For example, one of the things that will happen in climate adaptation is you want to give anticipatory financing for building more resilient homes in the situation of higher sea levels,” Nilekani said, “and you can do that using DPI.”

Similarly, the Open Network for Digital Commerce platform can be used to build “reverse logistics” and enable a circular economy for recycling and reducing wastage. Further, with greater electric vehicle adoption, the technology used in the DPIs can be deployed to create an interoperable network for accessing charging stations and batteries.

“So, fundamentally, not only has DPI helped us so far, it's also going to help us in the future,” he added.

Therefore, DPIs are not just “nice to have” but strategic, as seen in India’s response during the pandemic when they facilitated, at short notice, massive cash transfers and the population-scale vaccination process, Nilekani said.

DPIs are also a “data empowerment architecture”, he said, as the data generated from these platforms is a form of “digital capital”. He added: “Individuals can use the digital capital to get ahead in life. You can use the data to get a better loan, to get better jobs, to get better skills.” Moreover, while most countries in the Global South face the challenge of formalisation, India has solved for it by onboarding people through DPIs. The transformation was accelerated by the combination of India’s talent density, startup density and digital public infrastructure, Nilekani said.

24. Taiwan sees India as next growth frontier, over 250 Taiwanese companies invest US$ 4 billion in India

IBEF, Aug. 28, 2023

In the corporate realm, there are increasing synergies between India and Taiwan. India is Taiwan’s 17th-largest trading partner and its 14th-largest export market, according to the official figures of the Taiwanese government.

According to Taiwan's Bureau of Foreign Trade, and Ministry of Economic Affairs, India is "certainly an important partner country under Taiwan's New Southbound Policy. Ms. Estela Chen, Executive Director, Economic Division, Taipei Economic & Cultural Centre-India said that there are more than 250 Taiwanese companies already in India, that have made a combined investment of around US$ 4 billion (Rs. 32,988 crore) in the country".

It is worth noting that bilateral commerce between India and Taiwan was US$ 8.45 billion (Rs. 69,687 crore) in 2022, reflecting a 9.8% rise over 2021. India exported US$ 3.14 billion (Rs. 25,896 crore) to Taiwan. This primarily consists of mineral fuels, aluminium, iron, steel, organic chemicals, and plastics, while Taiwan's exports to India totalled US$ 5.31 billion (Rs. 43,792 crore), primarily consisting of plastics, electronic integrated circuits, organic chemicals, electrical machinery, iron, and steel. India's ambitious electrification plan has increased business potential for the island nation here in the subcontinent.

"Not just Foxconn, but a lot of Taiwanese electric vehicle component companies are interested in India," Ms. Chen says. Her confidence is mostly based on the rise in the number and interest of Taiwanese businesses investigating their strategic growth in the Indian market.

According to Ms. Chen, the Indian economy is continuing to outperform many other economies, which is another fuel for growth. "Prime Minister Mr. Narendra Modi had announced that by 2030, India will be the third largest economy in the world, and just last year he said that feat will be achieved by 2028.

She claims that Taiwanese firms are strong in the information and communications technology (ICT) business, heavy machinery, semiconductors, and automation.

“Most of these solutions are industry agnostic. I think that’s the future no matter which industry it can be applied to. It is not going to be limited to semiconductors, there will be a need to introduce automation solutions not only for increasing production but also the quality which is essential for the development of India,” concludes an optimistic Ms. Chen.

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

25. India’s Presidency Will Help Drive Transformative Changes: UN Chief

ET, 9 Sep. 2023

India's presidency of G20 will help drive the transformative changes that the world desperately needs, UN Secretary-General Antonio Guterres said on Friday, as he warned against the catastrophe of growing divisions and eroding trust in a fragmented world.

Guterres called upon the G20 countries to show leadership by keeping the “1.5 degrees Celsius goal alive”—referring to limiting the average rise in global temperature—rebuilding trust based on climate justice, and advancing just and equitable transition through a green economy.

Addressing a press conference here ahead of the G20 Summit, he said the phrase 'One Earth, One Family and One Future' adopted by India as G20 theme finds profound resonance in today's world. “If we are indeed one global family, today we resemble rather a dysfunctional one... I hope that India's presidency of G20 will help drive the kind of transformative change that our world desperately needs, in line with the repeated commitments of India to act on behalf of the Global South and its determination to pursue developmental agenda,” he said

The UN chief said the world is in a different moment of transition and that its future is multipolar but our multilateral institutions reflect a bygone age. The global financial architecture is outdated and unfair, he said, adding that it required deep structural reforms and the same can be said about the UN Security Council.

Guterres cautioned that there was no time to lose as wars and conflicts were multiplying and new technologies were raising red flags. “Poverty, hunger and inequality are growing but global solidarity is missing. We must come together for common good,” he said .

Climate Focus

He urged the G20 countries—responsible for 85% of the world's GDP and 80% of the emissions—to demonstrate leadership in two priority areas: preventing a climate breakdown and saving the sustainable development goals. At the Paris climate talks in 2015, countries agreed to limit global warming to 1.5 degrees Celsius as compared to pre-industrial levels (1850-1900) to avoid extreme, destructive and likely irreversible effects of climate change.

“We have no time to lose, challenges stretch as far as I can see. The climate crisis is worsening dramatically but the collective response is lacking in ambition, credibility and urgency,” Guterres said.

***

AAPI

Pages

Monday 18 September 2023

NEWSLETTER, 20-IX-2023

– GENERAL POLICY, INFRASTRUCTURES, COUNTRY FINANCES, ETC.

– AGRICULTURE, FISHING & RURAL DEVELOPMENT

– INDUSTRY, MANUFACTURE

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

NEWSLETTER, SEPTEMBER 2023

– 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