HIGHLIGHTS OF THE WEEK

The market intelligence company’s data indicates that funding for Indian startups was somewhat steady this week. 71% of the total money raised this week came from early-stage investments, which totaled USD 79.3 million. Additionally, USD 5.5 million, or 5% of the overall investment, went into seed-stage investments. 

Weekly MSME News Updates

According to the report, India will now have its own sales region at Apple. The manufacturer of the iPhone reported that India achieved record quarterly revenue and robust double-digit year-over-year growth. Hugues Asseman, who recently retired, will be replaced by Ashish Chowdhary, Apple’s head of India. 

Denis Manturov said that, with the Eurasian Economic Commission, they are eager to step up discussions on a free trade agreement with India. Nirmala Sitharaman stated that India might purchase Russian crude oil at or above the level of a G7 price cap on its exports if world prices rose.

The PLI scheme offers financial incentives to businesses that meet specific requirements and manufacture items domestically, in an effort to encourage them to embrace smart manufacturing practices. Businesses are searching for alternatives to advance, and some are looking at the potential of automation and robotics for a reliable and sustainable output. 

The company’s new facility will enable the production of large-form cylindrical cells ranging in series from 22 to 66. The company claims that their cells have increased energy densities, faster processing times, and lower efficiency losses. Akshay Singhal said that made-in-India battery cells might outperform locally sourced parts by up to 90%. 

The funding will be utilised to increase TBOF’s capacity for production, build farmer training facilities, and broaden its domestic and international business. Additionally, the recently raised funds will contribute to the empowerment of farmers, the expansion of women’s work options in villages, and the general improvement of village life. 

India has committed to achieving net-zero emissions by 2070, and clean energy has been chosen as the intervention in this process. The adoption of innovations that lower GHG emissions in the industry is sped up by energy-based solutions. The agrarian community is dispersed and generally opposed to changing traditional practices. 

Global News

The video telematics market in North America is more than three times that of Europe. The active installed base in North America is anticipated to increase at a CAGR of 18.0% to 8.8 million units by 2027. The number of video telematics systems in Europe will increase by 2.5 million by 2027, growing at a CAGR of 17.9%.

Amazon is seeking high growth and high margin industries as it prepares to liquidate all 68 of its physical book stores, pop-up shops, and “4-star” locations in the US and UK. Alexandre Gagnon said that Amazon Business’s gross sales in Europe increased at a compound annual rate of 25% between 2020 and 2022. 

Musk suggested that it would be “wise” for the government to establish “some sort of contingency plan” in which it could shut down the service centres that support the AI programmes. He also said that we’ll likely want some sort of hardware off switch if there’s something we’re worried about and we can’t stop it using software commands. 

The commission said that Mexico will expand 1.5% this year, while Brazil, Latin America’s top economy, is predicted to grow 0.8%. According to ECLAC, the region’s economies are dealing with a challenging external environment this year that is characterised by sluggish growth in both domestic and international commerce. 

4,080 meters of the pipeline span the main water channel of the Brahmaputra river in this single Horizontal Directional Drilling crossing. North-East India is now connected to the National Gas Grid with the completion of the 24-inch-diameter hydrocarbon pipeline. This also connects Jorhat and Majuli in Assam. 

Jim Chalmers said that after creating a green bond structure and talking to investors, Australia will launch the programme. The goal of green finance is to accelerate investment in clean energy infrastructure, assisting Australia’s transition to net zero emissions by 2050. The programme will also allow investors to support government initiatives that are transforming Australia towards net-zero emissions. 

Industry Insights

Businesses from all sectors of the global economy have pledged to take stronger climate action, but change must happen faster. However, more parties involved are becoming aware of how trade policy may be able to reduce emissions. Many businesses realised that the speed and intensity of the change varied across nations and industries.

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