Trade Promotion Council 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

In this edition of the IBT Newsletter, we bring you stories that shape industries and inspire innovation. Dive in! 🚨 Spotlight on Dairy: Recent reports of adulterated ghee have exposed alarming issues, underscoring the need for greater transparency and quality control in the #dairy sector. 🇦🇪 The UAE-India Investment Power Play: With UAE’s investments aiming for an ambitious $100 billion milestone, discover the strategies and motivations driving this robust, thriving relationship. 🐔 Antimicrobial Resistance Alert: AMR is a global challenge intensified by antibiotic overuse, especially in #poultryfarming — explore the latest insights into its impact. 🇬🇧 TPCI Update: A successful Buyer-Seller Meet at the Hilton in Wembley, London, connecting global players for impactful trade opportunities. 🥛 Disrupting Dairy: Sid's Farm’s Chief Growth Officer, Tamal Chatterjee, shares how they’re reshaping the dairy value chain with fresh ideas and innovation. 🍽️ The Future of Dining: GoSelfServe’s co-founder and CTO, Chetan Patil, gives us a glimpse into the world of self-service technology, transforming smart dining as we know it. 🌱 Exotic Fruits, Urban Roots: From law to farming, Kia Salot of Farm2Fam is bringing blueberries and raspberries to India, all sustainably grown. 🌾 Empowering Farmers with Renewable Energy: AgriVijay founder Vimal Panjwani discusses his vision to make clean energy accessible for Indian farmers through a comprehensive, easy-to-use platform. 💱 A New Era of Trade: The recent #BRICS summit in Kazan took steps toward de-dollarization, paving the way for a more diversified, resilient global economy. ✨ Happy Reading! Ministry of Commerce and Industry, Government of India Ministry of Agriculture & Farmers Welfare, Government of India Ministry of Food Processing Industries Department for Promotion of Industry and Internal Trade India Business & Trade TPCI Events Indusfood Agritech Indusfood Manufacturing Indian Dairy Association POULTRY PROCESSORS' ASSOCIATION OF INDIA India in UAE (Embassy of India, Abu Dhabi) UAE - India Business Council UAE Chapter IBPC Dubai Indusfood

In today's edition of Business Bytes, we delve deeper into: A global study reveals that strong workplace relationships and pride in one’s work significantly enhance mental well-being, outweighing traditional ‘work-life balance’ factors LEAD: The Union Cabinet approved a Rs. 1,000 crore venture capital fund under the IN-SPACe program to support space-sector focused startups in India At the #BRICS summit in #Kazan, member countries made significant strides toward de-dollarization, aiming to reduce their reliance on the U.S. dollar for international #transactions FACT: Engineering exports from India showed a 10.55% year-on-year growth in September 2024, driven by strong demand from the US, UK, UAE, Germany, and Mexico NTPC Limited has partnered with the Indian Army to establish a #Solar Hydrogen-based #Microgrid in Chushul, Ladakh HIGHLIGHT: NICSI, part of the Ministry of Electronics and Information Technology, is constructing a data center in Guwahati, Assam, set to begin operations by March 2025 Govt is working on a collateral-free, pre-shipment loan scheme for SMEs and e-commerce exporters to support its goal of achieving US$ 2 trillion in exports by 2030 Happy Reading! India Business & Trade | Indusfood Ingredients | Indusfood Manufacturing | Indusfood Agritech | Indusfood | TPCI Events

In this edition of Business Bytes, we read more about: Anti-dumping duty imposed on 5 Chinese products India’s food consumption pattern is the most sustainable among G20 nations as highlighted by WWF’s Living Planet Report LEAD: Indian apparel exporters are expected to see a revenue growth of 9-11% in FY2025, according to a report by ICRA FACT: Consumers are facing higher prices for cooking oils as demand rises ahead of Diwali. The global carbon black market is set for significant growth, projected to rise from around US$ 28 billion in 2023 to US$ 42 billion by 2032 HIGHLIGHT: India now leads as the top destination for Global Capability Centres (GCCs) due to its talented workforce and supportive government policies Roastery Coffee House has made #history by becoming the first Indian brand to trademark its #CranberryCoffee Happy reading! India Business & Trade | Indusfood Ingredients | Indusfood Manufacturing | Indusfood Agritech | Indusfood | TPCI Events

Welcome to today's edition of Business Bytes. Our highlight stories for today include: - India has removed the export tax on parboiled #rice, buoyed by surge in inventories and expectations of a good harvest. - LEAD: The International Monetary Fund’s latest World Economic Outlook projects India’s GDP to grow 7% in FY 2024-25 and 6.5% in FY 2025-26. - FACT: In August 2024, Indians collectively spent US$ 3.2 billion overseas, mainly on travel and education, according to Reserve Bank of India (RBI) data. - AutoNxt Automation has officially commenced sales of India’s first electric tractor, with the inaugural sale made to Jaywant Sugar Mills. - HIGHLIGHT: The South Central Railway (SCR) has planned to develop 121 railway stations with an investment of Rs 4,605 crore (US$ 547 million) under the Amrit Bharat Station Scheme (ABSS). - The Government Of Rajasthan has entered into an MoU with the UAE for a Rs 3 lakh crore (US$ 35.7 billion) investment in renewable energy. Happy Reading! Ministry of New and Renewable Energy (MNRE) Ministry of Agriculture & Farmers Welfare, Government of India India Business & Trade TPCI Events Indusfood Indusfood Manufacturing Indusfood Agritech

🚜🌱 Unlock the Future of Agriculture at the India International Agritech Summit! Are you ready to explore groundbreaking innovations that are transforming the agricultural sector? Our upcoming India International Agritech summit brings together industry leaders, policymakers, and technologists to present cutting-edge agritech solutions, new policy frameworks, and evolving business practices that are driving the future of farming. 🔑 What’s in it for you? ✨ Innovative Agritech Solutions: Discover the latest advancements in precision farming, automation, and smart tools designed to increase efficiency and sustainability in agriculture. 📜 Policy Insights: Gain a deeper understanding of evolving agricultural policies that promote technology adoption and sustainable practices, both in India and globally. 💼 Evolving Business Models: Learn about emerging trends in agribusiness and new opportunities that can help your business grow and stay competitive in this rapidly changing landscape. 🎯 Network & Collaborate: Connect with industry experts, policy makers, and forward-thinking professionals who are shaping the future of agriculture. Powered by Indusfood Agritech, the summit will be organised at Yashobhoomi Dwarka, New Delhi on January 10-11, 2025. Don’t miss out on the opportunity to stay ahead of the curve! 🚀 #Agritech #AgricultureInnovation #Sustainability #PolicyFramework #BusinessGrowth #AgricultureSummit2024 #Networking T-Hub | AgHub | Passing Gifts | AgHub - Agri-Innovation Hub of PJTSAU Trade Promotion Council of India | FAO | ICAR- Indian Council of Agricultural Research | Fasal - Grow More, Grow Better™ | Mahindra Agri Solutions Limited | Bayer | Crop Science | Ministry of Agriculture & Farmers Welfare, Government of India | World Farmers' Organisation | Make In India | Indian Institute of Technology, Kharagpur | Indian Agricultural Research Institute | International Institute of Tropical Agriculture (IITA) | AgFunder | Krishi Jagran | Punjab Agricultural University | Indusfood | Indusfood Manufacturing | Muskkan Jain Varma | India Exim Bank