HIGHLIGHTS OF THE WEEK

Subhash Chandra Garg stressed the importance of maintaining a realistic perspective on the potential for higher growth through industrialization. He stressed three sectors with tremendous growth potential: the service sector, digital infrastructure, and physical infrastructure. Additionally, he emphasised the significance of long-, medium-, and short-term growth.

Ramesh Chand suggested that India increase its exports of dairy products because domestic supply is greater than domestic demand. For this, India must become more competitive while also allowing for dairy imports through free trade agreements with other nations. India, according to him, needs to be export-competitive to capture overseas markets.

The CEOs Roundtable featured more than 50 CEOs from French and Indian businesses. At the discussion, representatives from industries including agriculture, tourism, manufacturing, defence, pharmaceuticals, textiles, and aerospace were present. Participants in the session on “New Energy” talked about how businesses may take advantage of the green transition’s opportunities. 

The government officials are understanding the needs of the ultra-pure copper, Aluminium, water, and gas industries to plan the construction of units near the intended semiconductor manufacturing units. The purpose of asking these businesses to establish facilities in India was to guarantee that chip manufacture would get started on time and be unaffected by any disruptions. 

The project will be able to test trains moving at speeds greater than 220 kmph. When the facility is finished, India will be the first nation to have complete rolling stock testing facilities that meet international standards. The testing facility, according to Ashwini Vaishnaw, will facilitate exports and improve manufacturing. 

The various factors have led many entrepreneurs to desire to launch businesses in the space. This has led VC funds to actively develop their own thesis and support prospects in the space. Investors are particularly interested in micro-segments of B2B marketplaces such as cross-border trade, specialty chemicals, engineered items, equipment, batteries, and electronics.

In the initial stage of implementation, one KVK under each of the 11 ATARIs will be involved, supporting technology and facilitating knowledge-sharing and skill-building activities. ATLs in the area will also receive visits from KVK experts based on need, and KVKs will offer literature, seeds, planting supplies, and other inputs as needed. 

Global News

The US economy is moving away from manufacturing and towards services. Most developed nations are expected to experience this trend as they lose manufacturing to nations with lower wages via offshoring. The U.S. Labour Department tracks employment by industry categories, which can be divided into either goods production or services. 

Sanjiv Puri stressed that the signing of the India-EU free trade agreement might serve as a catalyst for improving relations between India and Italy. Goyal met with the CEOs of some prominent Italian companies. He explained to them the possibilities for investing and growing in India, the policy reforms, and the investment climate in India.

The WAAS Conference will give visitors more chances to hear from policymakers and the business community about the automotive industry in Nigeria and West Africa. According to Jamie Hill, visitors enjoy being among the first to view, touch, and use cutting-edge goods and technologies from around the globe in person.

Alckmin spoke in favour of boosting trade between Brazil and the rest of Latin America, with whom his nation now conducts only 26% of its international trade. According to him, commerce between Asian nations is 70%, inside the European Union it is 60%, and between the United States, Canada, and Mexico it is 50%.

According to Chetan Ahya, the recent banking stress in the U.S. and Europe supports Asia’s superior performance. In the US and Europe, lending requirements will get tighter, which will have an impact on domestic demand. Asia will be able to provide enough domestic demand to maintain the shift in growth differentials in its favour.

Australia is in a position of immense potential due to its abundant natural resources and highly educated workforce. The National Reconstruction Fund positions Australia for a $15 billion public investment in rebuilding its industrial base, with $1 billion of that amount designated for promoting innovative manufacturing. 

Industry Insights

Given the growing investor interest in digital assets and portfolio expansion, wealth management firms must increase their digital services. The expanding variety of digital assets available today and the influence of the metaverse have acted as catalysts, encouraging WM businesses to investigate investing opportunities outside of cryptocurrencies.

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