Trade Promotion Council of India

In today's edition of Business Bytes we delve deeper into: * India's #Business Confidence Index improved significantly to 149.8, reflecting enhanced business sentiment * In India, over 1.84 crore of MSME's are women led * Fact: With rising online shopping, e-commerce is fueling significant growth in the #warehousing industry * The #RBI notes that global adoption of #UPI and CBDCs could reduce remittance costs, increase volumes, and boost inflows * Due to erratic rainfall and $3.74 billion in pulse imports in 2023-24, the government is targeting 35 districts for #tur and 13 for #urad cultivation, using high-yielding seeds to boost production * India’s coal production is nearing 1,000 million tonnes, but severe shortages in the north highlight the need to balance immediate supply issues with long-term goals in renewable energy and #efficiency Happy reading! #warehousing #onlineshopping #ecommerce #pulses #production #coal #women #MSME #coalshortage #renewableenergy #energyefficiency #kharifcrop Reserve Bank of India (RBI) | India Business & Trade | Indusfood Manufacturing | Indusfood | TPCI Events

In today's edition of Business Bytes we uncover: * Initiatives like 'Make in India' and 'Vocal for Local' drive 400% increase in Khadi sales * Concerning rise in banking related frauds across India * India considers exempting EU-Approved medical devices from clinical trials * Singapore was India’s largest source of foreign direct investment (FDI), contributing US$ 11.77 billion in 2023-24 * Fitch Ratings: India's fiscal credibility up, deficit to fall below 4.5% of GDP by FY26 * WTO delays ruling on India’s import duty dispute at India’s request Happy Reading! #makeinindia #GOI #WTO #Imports #importduty #fiscalcredibility #GDP #Singapore #FDI #gujarat #fraud #bankingfraud #khadi #khadisales #handloom #clinicaltrials India Business & Trade | Indusfood Manufacturing | Indusfood | Vocal For Local BHARAT Welfare Foundation | Make In India | TPCI Events

The Union Budget 2024-25 has unveiled a slew of reforms to propel India’s growth engine. From skilling up the workforce to fostering a conducive business environment, the budget lays a strong foundation for a developed India. Our latest India Business & Trade newsletter delves deep into the key highlights: - How India's skilling initiatives can bridge the talent gap and create a future-ready workforce. - The challenges and opportunities for Indian spirits in the global market. - Tax cuts and customs duty reductions to attract FDI and boost 'Make in India'. - Protecting innovations at trade fairs from patent ambushes. - The seafood sector's growth story and the government's support. - India's economic resilience and MSME boom as highlighted in the Economic Survey. Don't miss out on this comprehensive analysis! Click below for more #UnionBudget2024 #IndiaEconomy #SkillingIndia #MakeInIndia #Exports #Trade #Business #Economy #Finance #Investment #Startup #MSMEs #Seafood #Gold #Silver Ministry of Commerce and Industry, Government of India Ministry of External Affairs, India Indian Ministry of Finance MPEDA Indusfood Manufacturing Indusfood Agritech Indusfood TPCI Events Suhayl Abidi

In today's edition of business bytes we discover: * Indian businesses are notably proactive in ESG (Environmental, Social, and Governance) reporting, with 65% compliance, higher than Singapore, Hong Kong, and China, according to a report by DBS Bank. * This brand dominates India's FMCG Market for 12th year straight! * Watch Mr. Prem Kumar Vislawath, Founder and CEO of Marut Drones's bold vision for transforming Indian agriculture and empowering farmers, in our latest Food Frontiers series * Government accelerates efforts to register 10,000 FPOs by Dec * MSME GDP Share at 30%, Still below Pre-COVID Levels Happy reading! #esg #esgreporting #Upskilling #innovation #FMCG #MSME # Parle Products Pvt. Ltd | Parle Biscuits Pvt. Ltd. | Prem Kumar Vislawath | Virat Bahri ☕ | India Business & Trade | Indusfood Manufacturing | Marut Drones | Indusfood | Indusfood Agritech | TPCI Events

In our latest edition of Business Bytes, we take a closer look at: * The government has proposed modifying the procedures for determining the origin of goods imported at preferential duties, in line with requirements of current FTAs under negotiation. * India's ranking climbs up on the Henley Passport Index, allowing visa-free access to 58 countries * The video entertainment sector is set to hit $13 billion by 2028, with Video on Demand (VOD) driving half of this growth * Seven countries occupy the third position on the Henley Passport Index giving access 191 destinations without a visa * India increases US oil imports in June, cuts back on #Russia *Services sector surges to 4-month high, driving record growth Stay tuned! #FTA #US #Oilimports #servicesector #henleypassport #visa #visafree #vod #netflix #goods #duty #IBT #IBTInsights Henley & Partners - The Firm of Global Citizens® | India Business & Trade | TPCI Events | Indusfood Manufacturing | Indusfood | Ministry of Energy | Ministry of External Affairs, India

Finance Minister Nirmala Sitharaman’s Union Budget 2024-25, the first of Modi’s third term, unveils key measures aimed at fostering growth and opportunity. With a focus on nine priorities, the budget targets reducing the fiscal deficit to 4.5% of GDP, introduces a revised income tax structure, and increases long-term capital gains tax. It emphasizes support for the poor, women, youth, and farmers, while prioritizing employment, skilling, MSMEs, and the middle class. Key highlights include an 8.2% GDP growth in FY24, a reduction in inflation to 5.4%, and improved current account deficit. Here’s the Budget at a Glance #Budget2024 #unionbudget #Infrasturcture #greenenergy #investments #agriculture #agritech #employment #tourism #renewableenergy #income #capitalgains #manufacturing #incentives #upskilling #jobcreation #jobs #fiscaldeficit #incometax #MSME #GDP #inflation #exports #IBT #IBTInsights Trade Promotion Council of India | TPCI Events | Indusfood Manufacturing | Indusfood | Ministry of Energy | Ministry of Commerce and Industry, Government of India

The spotlight in today's edition is on- * The #PLIscheme for #toys will have an allocation of Rs 3,489 crore * The budget 2024-25 emphasizes #energyefficiency and critical mineral imports, aiming for a #sustainable and robust #energy future for India. * Fact: In a first, #Israel to give out e-visas to Indian travellers * Heavy cut in import duties for #gold and #silver to benefit consumers ahead of the festive season * Budget 2024-25 removes custom duties on components and consumables needed for vessel manufacturing * RECAP: Detailed coverage of the #UnionBudget 2024-25 * Bihar allocated Rs 26,000 crore for various road projects under the Purvodaya Scheme Stay tuned! #imports #importduty #Purvodayascheme #bihar #AndhraPradesh #WestBengal #evisa #israeltourism #IBT #IBTInsights Visit Israel | India Business & Trade | TPCI Events | Indusfood Manufacturing | Indusfood | Ministry of Energy | Ministry of Commerce and Industry, Government of India | Nirmala Sitharaman

Decoding Budget 2024: Infrastructure, MSMEs, Investment promotion, Skilling & More! Union Budget 2024 prioritizes infrastructure, MSMEs, job creation, and tax reforms to empower all sections of society. Here's a glimpse into the key announcements: Building a Stronger Foundation: -₹11 lakh crore allocated for infrastructure development, including housing initiatives like PMAY2 with a focus on both rural and urban areas. - Development of 14 major cities with transit-oriented plans for improved urban mobility. - Dedicated focus on infrastructure projects in Bihar and Andhra Pradesh. Empowering MSMEs: - ₹100 crore Credit Guarantee Scheme for machinery and equipment loans. - New MSME credit assessment model by public sector banks. - E-commerce export hubs to connect traditional artisans and MSMEs with global markets. - Increased Mudra loan limit under the 'Tarun' category. Boosting Tourism: - Development of key religious corridors inspired by the Kashi Vishwanath temple corridor model. - Rajgir, a significant site for Hindus, Buddhists, and Jains, to be revamped for tourism. - Focus on transforming Nalanda into a tourist hub and revitalizing Nalanda University. - Initiatives to make Odisha a premier tourist destination. Tax Reforms & Simplification: - Review of the Income Tax Act to enhance readability. - Simpler tax regime for domestic cruise operations. - Reduced corporate tax rate for foreign companies from 40% to 35%. - Removal of angel tax for all categories of startup investors. - Increased standard deduction for salaried employees under the new tax regime. Focus on Startups & Manufacturing: - ₹1,000 crore VC fund to support spacetech startups. - Comprehensive internship program for 1 crore youth over five years in top companies. - Establishment of investment-ready "plug and play" industrial parks. - Critical Mineral Mission for domestic production and recycling of critical minerals. Supporting Agriculture & Employment: - ₹1.52 lakh crore allocated for agriculture and allied sectors. - Initiative to transition 10 million farmers to natural farming methods. - Development of climate-resilient crop varieties. Employment and Skilling - Three new employment-linked incentive schemes focusing on first-time employees and job creation. - New centrally sponsored skilling scheme for 20 lakh youth. Click below for our detailed coverage. #Budget2024 #India #Infrastructure #MSMEs #TaxReforms #Startups #Agriculture #Employment #angeltax #tourism #skilling Nirmala Sitharaman | Piyush Goyal | Ministry of External Affairs, India | Ministry of Commerce and Industry, Government of India | India Business & Trade | TPCI Events | Indusfood | Indusfood Manufacturing

India's trade story is in flux, even as the economy delivers a stellar performance! The Economic Survey 2023-24 reveals a shifting composition of merchandise exports and a booming services sector. Our latest newsletter explores: - India's impressive GDP growth and its impact on trade opportunities. - The evolving landscape of India's merchandise exports. - Opportunities in high-growth sectors like engineering goods, electronics, and pharmaceuticals. - The continued strength of India's service exports and the potential for further expansion. - Insights on navigating the changing trade environment to stay ahead of the curve. Click below to get the full picture and subscribe for latest updates on the dynamic Indian economy! #economicsurvey2024 #India #Trade #Export #Services #Engineering #Pharma #Business Indian Ministry of Finance India Business & Trade TPCI Events Indusfood Indusfood Manufacturing

🌟 India-Russia Relations: A Strategic Partnership for the Future 🌟 India and Russia have enjoyed a strong partnership for decades. This collaboration spans various domains, including politics, security, trade, and culture. In 2019, Prime Minister Shri Narendra Modi and President Vladimir Putin set ambitious trade targets, which have been surpassed with bilateral trade now exceeding $60 billion. During the recent visit by the PM to Russia, the two leaders have set a goal to elevate this trade to $100 billion by 2030, focusing on sectors like energy, agriculture, and infrastructure. This special edition of the India Business & Trade newsletter deep dives into the significance of India-Russia relations and their evolving dynamics. As two major global players, the collaboration between India and Russia is crucial for maintaining geopolitical stability and fostering economic growth in the region. Despite growth, challenges remain, with India's trade deficit widening due to increased imports of Russian oil. Addressing logistical challenges, such as operationalizing the International North-South Transport Corridor (INSTC), and negotiating a Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU) can enhance trade prospects. By leveraging strategic initiatives and focusing on high-potential products, India can strengthen its export growth to Russia, mirroring China's success and ensuring mutual economic prosperity. #IndiaRussiaRelations #Trade #EconomicGrowth #BilateralRelations #IndiaBusiness #StrategicPartnership #InternationalTrade Ministry of External Affairs, India | Ministry of Commerce and Industry, Government of India | Department for Promotion of Industry and Internal Trade | TPCI Events | Indusfood | Indusfood Manufacturing | India Russia Trade Mission (IRTM-GCPIT)