HIGHLIGHTS OF THE WEEK

According to RBI data up to October, there were more than 2.2 lakh crore in outstanding loans for medium-sized businesses, up more than 30% from the previous year. MSMEs that depend on bank and NBFC finance are obtaining new term loans to expand their factories and facilities. Jairam Sridharan said that fresh investments are definitely being made and the growth momentum is strong.

Weekly MSME News Updates

The good news is that the government might have a change of heart before the budget for the following year. Senior Indian officials have emphasised in recent months that their country intends to further integrate with the global economy. This year, a number of free-trade agreements were either signed or are being negotiated.

Over the past few years, the state’s connectivity has significantly improved. The officials said that the bridge will open to traffic once Sheikh Hasina’s administration has provided facilities for customs and immigration on the Bangladesh side. Tripura’s future will become brighter if the Maitri Bridge is put into use. 

A total investment of $21 billion is expected under the PLI programmes. According to CRISIL estimates, it accounts for nearly a quarter of current capital expenditure. Credit Suisse said that the capex, a key monitorable, is unbalanced, with battery, automobiles, and steel accounting for 48% of total capex.

The aggregation of 22 villages in Dholera, in the Indian state of Gujarat, covers an area of around 355 square miles, and it is PM Modi’s pet project. Rajeev Chandrasekhar said it represents the opening of a door to many decades of huge opportunities. The Modi administration is trying to increase high-value manufacturing in India through its entry into the global chip race.

Due to the growth of startups, India now has the third-largest startup ecosystem globally. More than 24,500 platforms are expected to be registered in 2022, up from around 20,000 last year, according to the StrideOne report. In the five years leading up to 2027, it predicted that the registration of new startups would increase at an annualised rate of 25%.

The Department of Space’s RISAT-1A and VEDAS are being used by the Ministry of Agriculture and Farmers Welfare to create Krishi-DSS, a decision support system modelled after Gati Shakti. By integrating with MOSDAC, BHUVAN (Geo-platform) of ISRO, and ICAR systems, this will improve the ability of all stakeholders in the agriculture sector to make decisions based on evidence.

Global News

Export licences will probably be rejected for any U.S. company attempting to do business with the companies because they are listed on the trade “Entity List.” In some cases, businesses with international operations must also comply with the rules in order to prevent technologies from being used for purposes that are prohibited by export controls.

Paolo Gentiloni said that a minimum tax rate is essential for addressing the challenges that a globalised economy creates. The groundbreaking pact builds on a worldwide agreement that the OECD brokered and that was endorsed by 137 nations representing more than 90% of the global GDP, including the United States, China, India, and Russia.

Biden highlighted the important investment lines for the development of the African continent and mentioned numerous projects that had been completed. He mentioned the two billion-dollar solar power plant projects currently under construction in Angola. Access to finance is essential for the infrastructural development of Angola and Africa in general.

With 3.281 million tonnes, Spain fell to the second largest buyer, a 9% decrease from the same time last year. With 2.614 million tonnes, Thailand came in third place. In 2022, Brazil exported 77.033 million tonnes of soybeans overall. The amount of soy oil shipments to Brazil this year is anticipated to be at their highest level in 16 years.

JPMorgan analysts predict that Southeast Asia’s market will decline before increasing in the second half of the year. According to analysts led by Rajiv Batra, it will probably be characterised by a “severe plunge followed by a fast climb in altitude followed by another dip until eventually markets come to rest at rock bottom.”

In the Northern Territory, the planting window is about to open. Australian cotton reached some of its highest values in the previous selling season. It is anticipated that the cotton industry will grow from 8,000 to 15,000 hectares. Bruce Connolly said that he doesn’t know if he’s seen it that high too often before.

Industry Insights

Insights from 5,500 client organisations situated in nations accounting for 82% of global IT spending across all economic sectors are reflected in the benchmarking data. The most important trend this year continues to be organisations becoming digital to meet demands from customers and citizens. Business agility is this year’s third-most important business priority among commercial executives.

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