Trade Promotion Council of India

In this edition of Business Bytes, we read more on: Odisha’s Deputy Chief Minister and Tourism Minister, Pravati Parida, highlighted the state’s “limitless potential for tourism” India and Peru are advancing toward a free trade agreement (FTA) expected to be finalized in 2025, which would strengthen their growing economic relationship. Aditya Birla Group Chairman Kumar Mangalam Birla expressed optimism about increasing investments in the US, citing President Trump's positive stance towards India This week, we’ve observed intriguing developments in the dollar’s movement. Although the dollar held steady around familiar levels, it’s on the verge of ending its four-week winning streak We’ve observed intriguing developments in the dollar’s movement. Although the dollar held steady around familiar levels, it’s on the verge of ending its four-week winning streak Businesses with a turnover above ₹250 crore, down from the previous ₹500 crore threshold, and all central public sector enterprises (CPSEs) must now register on the RBI's TReDS invoice discounting platform October retail inflation in India is projected to spike to 6.15%, surpassing the RBI’s 6% tolerance threshold, primarily due to surging food prices and a diminishing base effect from last year Happy Reading! India Business & Trade | Indusfood Ingredients | Indusfood Agritech | Indusfood Manufacturing | Indusfood | TPCI Events

📢 Calling all exporters! 📢 Join an exclusive webinar by the Trade Promotion Council of India and ICICI Bank, crafted exclusively for businesses engaged in international trade: 🌍 Global Economic Outlook & Hedging Solutions for FX Risk 🗓 Date: November 21, 2024 ⏰ Time: 3:30 PM - 5:30 PM IST In today’s fast-paced economy, understanding trends and managing FX risk are key to safeguarding profitability. This session covers: - Global economic insights & hedging - Forex risk solutions & tools - Risk management in international business ✨ Our esteemed speakers for the session are: - GAURANG VASAVADA, Forex and Trade Consultant, is an ex-banker with 35 years of experience in international trade, finance and foreign exchange. - Virat Bahri ☕ is Joint Director, Research at the Trade Promotion Council of India. Don’t miss out on critical insights—secure your spot now! To register, click https://lnkd.in/gV9CicSK Ministry of Commerce and Industry, Government of India Ministry of Micro, Small and Medium Enterprises, Government of India Ministry of External Affairs, India Indusfood Indusfood Agritech Indusfood Manufacturing India Business & Trade TPCI Events

In this week’s India Business & Trade newsletter, dive into a wealth of editorial coverage, research-driven insights, and diverse industry perspectives on: - India is tackling rising energy needs and fossil fuel dependence by embracing renewable alternatives like ethanol and methanol, driving energy security, rural development, and sustainability - LEAD: India's exports have diversified over the past decade, with growth in mineral oils, electrical machinery, and green energy. While the US remains its largest market, new destinations like Togo and the Netherlands are emerging. - India's rising edible oil prices, driven by a 37% surge in palm oil and a 29% increase in mustard oil, are putting pressure on household budgets and businesses. In response, the government has raised import tariffs to boost local production and reduce reliance on costly imports - HIGHLIGHT: Donald J. Trump has secured a return to the White House as the 47th President of the United States - The Union Cabinet has approved the continuation of free Fortified Rice supply under PMGKAY and other welfare schemes from July 2024 to December 2028, aligning with the PM's vision to combat anemia through the Rice Fortification initiative. - Subhajit Sinha, CEO of 4CLIMATE, discusses how the company is transforming agriculture with #IoT, #AI, and automation to boost productivity, save resources, and promote sustainability - Founder Narayan Lal Gurjar discusses the unique aspects of EF Polymer India’s flagship product, Fasal Amrit, an organic, #biodegradable super absorbent made from recycled bio-waste like orange and banana peels. - Mira Jhala, Founder & CEO of FroGo shares insights on her journey, the challenges of running a food tech startup, trends in the #frozenfood industry, customer behavior, and her vision for the future. Happy Reading! Ministry of Commerce and Industry, Government of India Director General Of Foreign Trade Delhi NITI Aayog Ministry of Agriculture & Farmers Welfare, Government of India TPCI Events Indusfood Agritech Indusfood Manufacturing Indusfood Ethanol For India All India Renewable Energy Association

In today's edition of Business Bytes, we delve deeper into: The Reserve Bank of India (RBI) announced revisions to its Master Directions on #KYC on November 6, 2024, with the new provisions coming into effect immediately The Karnataka Maritime Board has launched the Mangaluru Water Metro Project, set to connect communities along the Nethravathi and Gurupura rivers Credit use doubled this festive season. #Creditcards and BNPL options drove this growth for D2C brands on #GoKwik's network India leads in the QS World University Rankings: Asia 2025, reflecting its expanding prominence in higher education and research Westfalia Fruit has successfully shipped its first batch of Hass avocados from South Africa to India, which marks an important step for both the company and the South African avocado industry India’s #petrochemical sector is poised to reach US$ 300 billion next year, with a projected potential of over US$ 1 trillion by 2040 Government approves ₹10,700 Crore infusion for FCI Happy Reading! India Business & Trade | Indusfood Ingredients | Indusfood Agritech | Indusfood Manufacturing | TPCI Events

In today's edition of Business Bytes, we dive deeper into: The DGTR, the Commerce Ministry’s investigation arm, has proposed an anti-dumping duty of up to US$ 339 per tonne on PVC resin imports, aiming to safeguard domestic manufacturers Donald J. Trump has secured a return to the #WhiteHouse as the 47th #President of the United States, following a resounding electoral victory over Vice President #KamalaHarris LEAD: New data suggests that the economic cost of #climatechange could be far worse than previously estimated, with #GDP losses potentially quadrupling by 2050 under some scenarios FACT: The Indian rupee dropped to an all-time low against the U.S. dollar on Wednesday, as early results from the #USelection triggered a rally in the dollar and put pressure on Asian currencies Aquaex India is launching Aquaex India Tech, an exhibition showcasing advanced aquaculture and #fisheries technologies at Indusfood Agritech, scheduled for January 9-11, 2025 HIGHLIGHT: Indian car dealers reported a significant 32.4% increase in sales in October, driven by festive demand, the introduction of new models According to the First Advance Estimate of Production of #FoodGrains data, the #kharif foodgrain production is estimated to reach 164.70 million tonnes Happy Reading! India Business & Trade | Indusfood Ingredients | Indusfood Agritech | Indusfood Manufacturing | Indusfood | Ministry of Commerce and Industry, Government of India

In today's edition of Business Bytes, we take a closer look at: Diplomats from nearly 180 countries recently concluded environmental talks at #COP16 with a breakthrough agreement to create a #biodiversityfund #India has been re-elected president of the International Solar Alliance (ISA) for 2024-2026, with France as co-president LEAD: India’s headline manufacturing PMI picked up substantially in October as the economy’s operating conditions continue to broadly improve FACT: India’s #wedding season from November 12 to December 16 is projected to generate nearly ₹6 lakh crore in business, driven by an estimated 48 lakh weddings, according to the Confederation of All India Traders (CAIT) Indian Sugar & Bio-energy Manufacturers Association (ISMA), the apex body of India’s #sugar and bio-energy industry, is appealing to the government to raise the #MSP of sugar HIGHLIGHT: According to Nielsen's Ad Intel Q4 report, 72% of global marketers plan to increase ad budgets in the coming year, signaling a return to pre-pandemic levels. In Western Europe, major advertisers like Procter & Gamble, LIDL, Amazon, and McDonald's dominate, with #FMCG, automotive, and retail sectors leading ad spending India’s wearable market saw its first decline in Q2 2024, with a 10% drop in shipments largely due to inventory issues and limited innovation Happy Reading!

In today's edition of Business Bytes, we delve deeper into: The government has slightly relaxed the wastage norms introduced on May 27, following industry appeals for reconsideration LEAD: India has significantly enhanced its market share in crucial sectors, emerging as a key player in international supply chains FACT: A.P. Moller - Maersk reported strong third-quarter demand, especially from China and Southeast Asia, and expects no slowdown in European or North American volumes India and Saudi sign agreements to enhance trade and investment The World Bank’s US$ 200 million #KERAProject aims to help Kerala’s farmers combat climate change through climate-smart practices and more HIGHLIGHT: Paradip Port aims to become fully mechanised by 2030 by developing three new berths and mechanising four existing ones India’s e-commerce platforms achieved nearly Rs 1 lakh crore (US$ 11.9 billion) in festive season sales, with a 23% growth over last year India Business & Trade | Indusfood Ingredients | Indusfood Agritech | Indusfood Manufacturing | Indusfood | TPCI Events

May this festival of lights brighten your life with joy, prosperity, and happiness. TPCI wishes you and your near and dear ones a very happy Diwali 2024. TPCI Events India Business & Trade Indusfood Indusfood Manufacturing Indusfood Agritech #diwaligreetings #diwali2024

In today's edition of Business Bytes, we discuss: - India and Spain deepened their bilateral relations by signing multiple MoUs during a meeting between PM Narendra Modi and his Spanish counterpart Pedro Sanchez in Vadodara, Gujarat. - LEAD: India inaugurated its first private military aircraft manufacturing facility, the C295 Final Assembly Line in Vadodara, Gujarat, a collaboration between TATA Advanced Systems Limited (TASL) and Airbus. - The Infosys Enterprise AI Readiness report reveals that while companies expect #AI to drive productivity gains between 10-40%, only 2% of organisations are fully prepared to harness AI’s potential. - FACT: Demand for temporary staff has increased by 15-20% YoY on account of Diwali, going up by 30-40% for e-commerce and quick commerce, according to various staffing service providers. - India’s #biscuit industry is expanding at a CAGR of 12.4%, projected to reach US$ 11.8 billion by 2027, driven by shifting consumer preferences and rising health awareness. - HIGHLIGHT: Domestic holdings of #gold by the Reserve Bank of India (RBI) have increased by over 100 metric tonnes in the half-year ended September. - Nearly 400,000 new residential #rooftopsolar connections have collectively added 1.8 GW in capacity, taking India’s residential rooftop capacity to 3.2 GW We will be taking a short break for Diwali and will return with our latest news updates on November 4. Wishing all our readers a very Happy Diwali on behalf of TPCI! Indusfood Indusfood Manufacturing Indusfood Agritech India Business & Trade TPCI Events

In today's edition of Business Bytes, we dive deeper into: CIM Piyush Goyal urged respect for sensitivities in India-EU trade talks, noting India's dairy market will grow from US$ 131.5 billion in 2024 to US$ 291 billion by 2033. HIGHLIGHT: Dealers across carmakers are staring at an all-time high inventory of 80-85 days The Central Drugs Standard Control Organization (CDSCO) identified 49 drugs that failed quality tests, including commonly prescribed antibiotics, supplements, and pain relievers LEAD: On October 28 PM Modi inaugurated and laid the foundation stones for development projects worth over Rs 4,800 crore in Gujarat’s #Amreli district FOREX INSIGHTS: The U.S. dollar has maintained its strong upward momentum, extending its gains for the fourth week in a row FACT: #Smartphone sales have seen a significant upturn ahead of #Diwali, aided by heavy discounts, higher retailer margins, and increased production Pet parents are spending around Rs 50,000 annually, or 5-8% of household income on pet care, according to Redseer’s report, indicating an expanding market The Ministry of Fisheries has introduced new guidelines to promote the import of premium seaweed seed material, addressing raw material shortages and fostering a sustainable #seaweed sector Happy Reading! India Business & Trade | Indusfood Ingredients | Indusfood Manufacturing | Indusfood Agritech | Indusfood | TPCI Events