HIGHLIGHTS OF THE WEEK

Shaktikanta Das said that it is proposed to expand TReDS’s scope by introducing an insurance facility for invoice financing, enabling any institutions and businesses engaged in the factoring industry to take part in TReDS as financiers. Regardless of the buyers’ credit ratings, the insurance option proposed by the RBI is likely to encourage discounting of payables.

Weekly MSME News Updates

The TTC is a tool for strategic coordination that will help both parties address issues at the intersection of trade, reliable technology, and security, strengthening relations between India and the EU. The Ministers of External Affairs, Commerce & Industry, and Communications, Electronics & Information Technology will co-chair the TTC on behalf of India.

Agricultural and processed food items have a $23.56 billion export objective set for the fiscal years 2022–2023, and $9.59 billion of that target has already been reached in the first four months of the current fiscal. In the first nine months, exports of processed food and agricultural products increased by 13%.

General Anil Chauhan said that it was the dream of the country to become self-sufficient in defence manufacturing. He continued by saying that a sizable defence ecosystem supports the armed forces, giving the nation its power, and that this defence ecosystem collaborates with the armed forces.

Domestic Solar Manufacturing Bodies Get Behind ALMM

Numerous domestic solar manufacturer organisations have determined it is time to support the ALMM stipulation. The Indian solar sector is anticipated to increase 4X by 2025 with a continuous focus on domestic production, with domestic capacity predicted to reach roughly 25 GW by the end of 2023.

Growth was not the founders’ primary aim; 55% of founders said that profitability was their main priority. The majority of founders have high hopes for raising their next round of funding at a better valuation. 19% of founders claimed to be EBITDA profitable, and 62% hoped to become EBITDA profitable within the next two years.

Basmati rice, which saw a value-terms increase of 16%, a startling 92% growth in pulse exports, and a 25% increase in fresh vegetable exports all helped to improve overseas shipments, which were mostly driven by demand from the US, UAE, and China. India has also become a net exporter of farm products, with all-time high exports of $50.2 billion.

Global News

In 2022, the sum of exports and imports between the two nations was $690.6 billion. US imports from China grew to $536.8 billion last year as American consumers increased their purchases of Chinese-made products like toys and mobile phones. US exports to China climbed to $153.8 billion during the same time period.

The partnership intends to increase exports across a number of industries and encourage foreign investment in low-carbon businesses. The pact solidifies the UK’s status as an important trading partner within Europe and the G7, highlighting the country’s ability to trade independently and strike comprehensive trade agreements with new markets.

President Nana Addo Dankwa Akufo-Addo said that the government’s top priorities are the process of finalising negotiations with the IMF and the specific support needed to help Ghana accelerate its economic recovery. Germany’s Finance Minister visited Ghana to hold bilateral talks with the government and to reassure Ghana of Germany’s support.

Colombia’s Largest Business Matchmaking Forum Seeks to Strengthen Trade Relations with the United States

In order to match the demand for non-mining energy products and services abroad with the supply in Colombia, Carmen Caballero stated that the action to promote international trade intends to spark business meetings. Colombia exported 6.6 billion dollars to the US last year, a 27% increase from the same time in 2021.

With a headline index of 54.5 in January, the operating conditions were clearly improving, considerably over the neutral level of 50.0. Increases in employment and inventories were encouraged by rising demand and stable input costs. David Owen said that the supply side and pricing environment continued to favour Dubai’s businesses.

The IMCRC shut its doors after seven years, leaving behind a legacy that included $4.2 billion in new revenue development, 6,000+ jobs, and a $2 billion investment in future R&D by 2030. IMCRC purposely allocated $40 million of Commonwealth financing to industry-led R&D in order to expand Australia’s manufacturing capacity and create practical commercial outcomes.

Industry Insights

China will open up after COVID, reducing strain on the global supply chain. In 2023, the base scenario predicts that stocks and bonds will continue to have a positive correlation and that their prices will rise together. Global market analysts believe there are opportunities in climate-related stocks and the emerging economies, though some stocks with significant profit potential are now trading at extremely low valuations. 

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