The Securities and Exchange Board of India (SEBI) has introduced new measures targeting the heads of Asset Management Companies (AMCs) involved in abusive market practices. This move follows an extensive investigation into harmful practices affecting market health and investor trust. SEBI aims to enforce accountability, ensuring transparency and regulatory compliance within the financial sector. By holding top executives accountable, SEBI seeks to prevent future misconduct and foster a stable investment environment. Investors and market participants are advised to stay informed about these significant regulatory changes.

The Centre has announced that the Mahila Samman Savings Certificate, a scheme launched in April 2023 with a two-year duration, will not be extended beyond March 2025. The scheme, designed to promote savings among Indian women, offered an annual interest rate of 7.5 percent. While the Mahila Samman Savings Certificate and other small savings schemes like the Senior Citizen Savings Scheme and Sukanya Samriddhi Yojana have performed well, inflows are expected to plateau, leading to lower projected collections from the National Small Savings Fund (NSSF) for FY25. The government's budget for FY25 has set NSSF collections at Rs 4.20 lakh crore, down from the interim estimate of Rs 4.67 lakh crore, reflecting shifts in household investments towards equity markets and mutual funds. Additionally, the government has reduced gross borrowing by Rs 12,000 crore to Rs 14.01 lakh crore and cut the fiscal deficit target to 4.9 percent.

The Department of Consumer Affairs, Government of India, has expanded its Price Monitoring System (PMS) to include 16 additional commodities, bringing the total to 38 commodities monitored daily. This expansion, announced by Union Minister Shri Pralhad Venkatesh Joshi during the launch of the Version 4.0 PMS Mobile App, aims to enhance policy interventions for price stability and inflation control. The commodities now monitored represent approximately 31% of the total Consumer Price Index (CPI) weights. The government has also implemented various measures to curb food price inflation, including subsidized food items, retail sale of tomatoes by NCCF, stock limits on certain pulses, duty-free imports, and the creation of a buffer stock. These efforts have resulted in market stabilization and a decline in retail prices of pulses.

The Ministry of Cooperation has established the Bhartiya Beej Sahkari Samiti Limited (BBSSL) under the Multi-State Cooperative Societies (MSCS) Act, 2002, with an initial paid-up capital of Rs. 250 Crore, promoted by IFFCO, KRIBHCO, NAFED, NDDB, and NCDC. BBSSL aims to enhance crop yields and promote indigenous seeds through the production, procurement, and distribution of quality seeds via cooperatives. The society focuses on various stages of seed production and aims to reduce reliance on imported seeds, boost agricultural production, and support the rural economy, aligning with the "Make in India" initiative and Atmanirbhar Bharat vision. Clause 55 of BBSSL's byelaws outlines the provisions for disposing of net profits, ensuring equitable distribution and support for cooperative education and unforeseen losses.

The Health Ministry has instructed the Board of Control for Cricket in India (BCCI) and the Sports Authority of India (SAI) to take action against surrogate advertising of tobacco and alcohol products by sportspersons. The directive is aimed at preventing indirect promotion of harmful substances through sports endorsements. Both BCCI and SAI are tasked with reviewing current endorsements, implementing new guidelines, and establishing monitoring systems to ensure compliance and promote healthier lifestyle choices.

The Indian government has authorized state governments to buy rice directly from the Food Corporation of India (FCI) at Rs 2,800 per quintal under the open market sale scheme (domestic), bypassing the previous requirement for e-auction participation. This policy shift aims to alleviate the large surplus of rice stored in FCI godowns ahead of the new procurement season. The decision also addresses challenges faced by the Karnataka government, which was impacted by earlier e-auction restrictions that affected their ability to meet election promises. The revised scheme excludes transportation costs from the purchase price.

The National Skill Development Corporation (NSDC) has introduced the Women Entrepreneurship Program in partnership with Britannia Industries Limited to empower women entrepreneurs and address their unique challenges. The initiative includes financial grants, showcasing products on the Skill India Digital Hub, and providing comprehensive skill training. The program aims to support approximately 25 lakh women across India, offering self-learning courses and incubation support. Key government and Britannia representatives emphasized the importance of collaboration in promoting women-led entrepreneurship. The initiative includes online courses, certification, and a grand finale with financial grants for top contestants.

The Reserve Bank of India (RBI) has proposed new draft guidelines for banks regarding the Liquidity Coverage Ratio (LCR), which will take effect on April 1, 2025. The guidelines require banks to increase their reserves of liquid securities to better handle potential withdrawal risks due to advancements in technology like mobile and internet banking. This change mandates that retail deposits enabled with these technologies be assigned higher run-off factors—10% for stable deposits and 15% for less stable deposits. Additionally, unsecured wholesale funding from non-financial small business customers will be subject to similar treatment. Analysts predict that these new requirements will increase banks' liquidity needs and impact their core earnings, particularly affecting banks with high retail deposit shares and lower net interest margins.

The central government is contemplating filing a formal complaint against the International Labour Organisation (ILO) concerning its recent India Employment Report. The government has expressed concerns about the accuracy and methodology of the report, which they believe may misrepresent the current employment situation in India. The report's findings could potentially impact India's economic reputation and foreign investments. To address these concerns, the government may file a complaint, engage with ILO representatives, and consider an independent review of the report.

Bolivia has officially attained full membership in MERCOSUR as of December 2023, after initially joining as an associated member in 1996. The accession, hailed by Bolivian President Luis Arce and Brazilian leader Lula, marks a historic milestone for Bolivia amidst global challenges. Full membership is expected to enhance Bolivia’s economic integration with MERCOSUR, providing benefits such as reduced trade barriers, increased export opportunities, and greater investment prospects. However, Bolivia faces significant challenges, including economic disparities with other member countries, internal divisions within MERCOSUR, and the need to align its regulations with MERCOSUR standards. Addressing these challenges will be crucial for Bolivia to maximize the benefits of its new status.

On July 22, Chief Economic Advisor V. Anantha Nageswaran called on private investors to align their actions with sustainable investment priorities, criticizing the low "greenium" received from India's sovereign green bond offerings. Despite receiving a favorable rating on its green bond framework, India's sovereign green bonds have not attracted significant greenium, with a "wall of capital" waiting rather than a substantial influx. The Economic Survey 2023-24 echoed these concerns, highlighting the lack of mobility in capital for energy transitions in Emerging Markets and Developing Economies (EMDEs). India's 'Framework for Sovereign Green Bonds,' rated 'Medium Green' by CICERO, aims to reduce carbon intensity and fund sustainable public sector projects. In 2022-23, India raised Rs 16,000 crore through these bonds, but the greenium declined from 6 basis points in the initial tranche to around 2 basis points in FY24. For FY25, Rs 12,000 crore is planned to be borrowed through Sovereign Green Bonds as part of a larger gross market borrowing strategy.

The Union government has reported that the Goods and Services Tax (GST) has effectively reduced the tax burden on the common man, minimized compliance and logistics costs for businesses, and boosted revenue for both Central and state governments. The Union Budget 2024-25 plans to expand GST to additional sectors, with Finance Minister Nirmala Sitharaman emphasizing the success and future enhancements of the GST system. Notable advancements include the digitisation of major taxpayer services and significant increases in GST collections, including a record high in April 2023. Experts highlight that GST reforms have fostered economic growth and benefitted the salaried class through tax regime changes. The GST taxpayer base has expanded significantly, and relief measures for small taxpayers, such as waiving the annual return filing requirement for those with turnover up to Rs 2 crore, have been recommended.

In the Budget 2024 announcement, the Finance Minister introduced a new scheme to support students pursuing higher education by offering loans up to Rs 10 lakh. This initiative aims to make higher education more accessible and affordable, reducing the financial burden on families. Eligible students enrolled in recognized institutions can avail of these loans, which will be provided through banks and financial institutions. The scheme is designed to promote educational equality and support students from various socio-economic backgrounds. Regular monitoring and evaluation will ensure effective implementation and reach to deserving students.

Finance Minister Nirmala Sitharaman has introduced a climate finance taxonomy in India, aimed at classifying and defining investments that support climate change mitigation and adaptation. This taxonomy will categorize financial activities based on their environmental impact, establish specific standards for sustainability, and improve transparency for investors. It aligns financial flows with the country's climate objectives, ensuring that investments are directed towards projects that promote climate resilience and sustainability. The framework also includes mechanisms for monitoring and reporting on the effectiveness of these investments.

In her Union Budget 2024-25 presentation, Finance Minister Smt. Nirmala Sitharaman proposed several significant changes to foster economic growth and innovation. Key highlights include the abolition of 'angel tax' for all investors to support the start-up ecosystem, a reduction in the corporate tax rate for foreign companies from 40% to 35%, and the introduction of a financial sector vision and strategy document. Additionally, she proposed the development of a climate finance taxonomy to aid in capital availability for climate-related initiatives, sought legislative approval for flexible financing structures, and recommended simplifying regulations for Foreign Direct Investment (FDI). Measures to promote the diamond cutting industry and a simpler tax regime for foreign shipping companies operating domestic cruises were also announced.

The Ministry of MSME has introduced the MSME Trade Enablement and Marketing Initiative (MSME-TEAM Initiative), a sub-scheme under the Central Sector Scheme “Raising and Accelerating MSME Performance.” This initiative aims to assist 500,000 micro, small, and medium enterprises (MSMEs) in onboarding the Open Network Digital Commerce (ONDC) platform. The program will offer awareness workshops and financial aid for catalogue preparation, account management, logistics, and packaging. Among the beneficiaries, 250,000 MSMEs are women-owned. The scheme, running from 2024 to 2027, will focus on Tier 2 and Tier 3 cities and MSME clusters, with an emphasis on supporting women and SC/ST-owned MSMEs. The initiative was announced by Minister of State for the Ministry of Micro, Small & Medium Enterprises, Sushri Shobha Karandlaje, in Rajya Sabha.

Business Responsibility & Sustainability Reporting (BRSR) has become the standard for listed companies to disclose Sustainability and ESG (Environment, Social, and Governance) matters in the non-financial section of their annual reports. Evolving from Business Responsibility Reporting (BRR), which was based on the National Voluntary Guidelines for Responsible Business Conduct, BRSR has made significant progress but continues to develop, aiming to enhance sustainability reporting practices.

The Non-Performing Assets (NPA) under the Emergency Credit Line Guarantee Scheme (ECLGS) have been reported at approximately 6%, suggesting that the overall cost of providing full guarantees will be less than initially anticipated. The scheme, launched in May 2020 to support businesses impacted by the COVID-19 lockdown, has provided a total liquidity support of ₹3.68 lakh crore, with NPAs amounting to ₹22,000 crore. The definition of NPA under ECLGS aligns with the Reserve Bank of India's standards.

To boost competitiveness and foster growth in the infrastructure lending sector, the government is urging major banks to support the country’s newest infrastructure lender. This strategic move aims to create a more dynamic financial environment by integrating fresh perspectives and innovative solutions from the new lender. The collaboration is expected to enhance resource allocation, promote industry growth, and benefit both investors and the economy. The initiative underscores the government’s commitment to strengthening the infrastructure financing ecosystem, with the effectiveness of this support likely to be a key indicator of sector dynamics.

The Asian Development Bank (ADB) has upheld its forecast of 7% GDP growth for India in the current financial year, a projection that mirrors the International Monetary Fund’s (IMF) revised estimate. Both organizations highlight robust growth in the industry sector, driven by manufacturing and construction. The IMF cites a resurgence in private consumption, particularly in rural areas, as the reason for its upward revision. Despite these optimistic forecasts, the ADB and IMF's projections are below the Reserve Bank of India's (RBI) estimate of 7.2%. The ADB anticipates a recovery in agriculture supported by an expected above-normal monsoon. However, new investment projects announced in the June quarter have plummeted by 92% compared to the previous year, reflecting a continued decline in private capital expenditure and raising concerns about the future of investment in India.

Finance Minister Nirmala Sitharaman marked the final stage of preparations for Union Budget 2024-25 with the traditional 'halwa' ceremony at North Block, New Delhi. The ceremony, attended by top officials including Minister of State for Finance Pankaj Chaudhary, signifies the completion of budget preparations before its unveiling in Lok Sabha on July 23. This ritual, dating back decades, maintains secrecy and honors the efforts of finance ministry personnel involved in crafting India's annual financial statement.

Banks across the country are intensifying their efforts to detect 'money mules' by closely monitoring proprietor accounts. Utilizing advanced analytical tools, financial institutions are tracking unusual transaction patterns, frequent international transfers, and sudden large deposits or withdrawals. This initiative, part of a broader security enhancement effort, aims to protect customers from becoming unwitting participants in money laundering schemes. Banks are collaborating with regulatory bodies and law enforcement, while also educating customers through campaigns and support services. These measures are crucial for ensuring the integrity and security of the financial system amidst growing cybercrime and financial fraud.

The Indian government is restructuring the National Test House (NTH) to become the country's premier certification body for all domestic products. This initiative aims to address recent rejections of Indian exports due to quality issues by establishing NTH labs nationwide. These labs will certify a wide range of products, including food, spices, and organic goods, ensuring they meet global standards. The transformation is expected to be completed within 125 days, focusing on regions critical for certification. The NTH will play a crucial role in validating and re-testing products, aiming to restore India's global reputation for product quality and reliability.

The Reserve Bank of India (RBI) has joined Project Nexus, an initiative aimed at enabling instant cross-border retail payments by linking domestic Fast Payment Systems (FPS). Initially, this project will interlink India's Unified Payments Interface (UPI) with the FPS of Malaysia, the Philippines, Singapore, and Thailand, with Indonesia expected to join in the future. RBI Governor Shaktikanta Das highlighted the project's potential to make cross-border payments faster and less costly, enhancing international cooperation for more efficient and affordable remittances. Project Nexus involves collaboration with the Bank for International Settlements Innovation Hub (BISIH) and seeks to benefit both person-to-person and person-to-merchant transactions.

The Department of Commerce has extended the Interest Equalisation Scheme for pre- and post-shipment rupee export credit for Micro, Small and Medium-scale (MSME) exporters until August 31. The extension, with an allocated outlay of ₹750 crore, excludes non-MSME exporters beyond June 30. Sudhir Sekhri of AEPC highlighted the scheme's benefits for the garment sector, urging for stability and longer-term policy frameworks.

The International Monetary Fund (IMF) has introduced an Artificial Intelligence Preparedness Index (AIPI) Dashboard, evaluating the AI readiness of 174 economies worldwide. Countries are categorized into Advanced Economies (AE), Emerging Market Economies (EM), and Low-Income Countries (LIC). Singapore, Denmark, and the United States lead among AEs, while India ranks 72nd overall. The index measures readiness based on digital infrastructure, human capital and labor market policies, innovation and economic integration, and regulation. The IMF also highlighted the potential impact of AI on employment, with significant job risks in AEs, EMs, and LICs. Economist Giovanni Melina noted AI's potential to enhance productivity and create new jobs, while warning of increased inequality, emphasizing the need for targeted policies to ensure equitable AI benefits.

Meghalaya Lokayukta Issues Notices Over Alleged Irregularities in Saubhagya Scheme Implementation

India's external debt has risen sharply to $663.8 billion as of March 2024, marking a $39.7 billion increase from the previous fiscal year. The surge reflects heightened borrowing for infrastructure projects and economic stabilization efforts amidst global economic uncertainties. The debt composition includes significant long-term borrowings for developmental projects and short-term liabilities for operational needs. As India navigates these economic challenges, managing external debt levels remains critical for ensuring financial stability and fostering sustainable growth in the coming years.

RBI has updated its priority sector lending guidelines to promote small loans in economically disadvantaged districts and discourage lending in districts with high average loan sizes. Starting FY25, loans in districts with low credit availability will receive higher weightage (125%), while districts with high credit availability will see reduced weightage (90%). This aims to balance credit distribution across districts based on per capita credit flow.

Shares of Investment Holding Companies (IHCs), also known as Holdcos, surged despite overall market volatility following the Securities and Exchange Board of India (Sebi)'s announcement of a special call auction. This move by Sebi aims to facilitate fair price discovery for Holdco shares, which typically trade at significant discounts to their actual book values. Companies like Bombay Burmah Trading Corporation and Kalyani Investment Company witnessed notable gains ahead of the first special session scheduled for October. Analysts believe this initiative could potentially unlock value for savvy investors by bridging the gap between market prices and intrinsic values of Holdcos.

The GST Council, chaired by Union Finance Minister Nirmala Sitharaman, made significant decisions during its 53rd meeting held in New Delhi. The Council recommended a uniform GST rate of 12% on all milk cans made from steel, iron, and aluminum, aiming to streamline taxation and reduce disputes. Additionally, it waived interest and penalties on tax demand notices issued under Section 73 for the financial years 2017-18 to 2019-20, provided taxes are paid by March 31, 2025. Services like platform tickets provided by Indian Railways were exempted from GST, offering relief to consumers. Other measures included an extension of the GSTR4 filing deadline to June 30 from FY 2024-25 onwards, enhancements in GSTR1A functionality for rectifications, and prescribed filing limits for appeals to appellate tribunals and courts to reduce litigation. The Council also announced a phased rollout of biometric authentication across India to combat fake invoicing and ensure compliance integrity.

The UN Conference on Trade and Development's (UNCTAD) World Investment Report 2024 highlights a decrease in foreign investment in Africa for 2023, with international project finance deals plummeting by 50% to $64 billion and greenfield project values dropping from $196 billion in 2022 to $175 billion. Despite these declines, project announcements increased by 7%, and the continent attracted a significant share of global greenfield megaprojects, particularly in the clean energy sector. Notable investments included a $34 billion green hydrogen project in Mauritania and a $6.4 billion electric vehicle battery manufacturing facility in Morocco. The report underscores the critical role of foreign direct investment (FDI) in funding essential infrastructure and services, emphasizing sustainable development goals (SDGs). The African Continental Free Trade Agreement Investment Protocol, adopted in 2023, is expected to further boost intra-regional FDI.

The Global Gender Gap Report 2024 has revealed that India ranks lower than neighboring countries such as Bangladesh, Nepal, Sri Lanka, and Bhutan in terms of gender equality. The report highlights India's poor performance in political empowerment, with a significant underrepresentation of women in political leadership roles. In contrast, countries like Bangladesh, Nepal, and Sri Lanka have made strides in political participation, contributing to their higher rankings. The report emphasizes the need for India to implement policies and initiatives that enhance women's political participation and ensure equal opportunities across all sectors to bridge the gender gap effectively.

The Telangana High Court issued a landmark judgment against a taxpayer in the first significant ruling on the General Anti-Avoidance Rule (GAAR) since its introduction on April 1, 2017. The court emphasized that transactions must have commercial substance to avoid being classified as tax avoidance schemes. The taxpayer, Ayodhya Rami Reddy Alla, engaged in transactions involving shares of Ramky Estate and Farms (REFL) that were deemed to lack commercial substance, resulting in a significant short-term capital loss which he offset against long-term gains. The taxpayer argued that the specific anti-avoidance rule (SAAR) should apply instead of GAAR, but the court ruled that GAAR was applicable since the arrangement was designed to avoid taxes without any commercial justification. Experts highlighted the ruling's reinforcement of the need for genuine commercial rationale in transactions to prevent tax avoidance.

In the realm of international trade, disputes are inevitable and traditionally resolved through either lengthy litigation or quicker but sometimes non-binding negotiation. A new hybrid method called 'litigotiation' is gaining traction, blending the strengths of both litigation and negotiation. This approach involves strategic negotiation within the framework of litigation, leveraging the pressure and structure of the legal process to foster sincere and productive negotiations. 'Litigotiation' offers several benefits, such as a clear legal backdrop and motivation for parties to settle before trial, and is increasingly used by businesses and governments to manage complex regulatory issues and multinational disputes. However, it requires skilled professionals and carries the risk of litigation overshadowing negotiation. Despite these challenges, 'litigotiation' is seen as a promising solution for achieving fair and efficient resolutions in the evolving landscape of global trade.

The prevalence of "zombie companies," firms unable to cover interest payments with current earnings, is rising alarmingly due to factors such as the pandemic, rising interest rates, and supply chain disruptions. This surge, highlighted in recent financial reports, has raised concerns among investors and economic analysts about potential insolvencies. Economist Jane Doe from Global Finance Insights emphasizes the threat these companies pose to global financial stability by tying up capital inefficiently. Industry experts suggest targeted interventions like accessible refinancing and strategic economic policies, though a wave of bankruptcies may be inevitable. Stakeholders are urged to remain vigilant and prepared for potential economic fallout from increasing corporate failures.

The Securities Exchange Board of India (Sebi) imposed a fine of Rs 7.75 crore on 11 individuals for their involvement in a 'pump and dump' scheme related to the stock of Svarnim Trade Udyog. This scheme, operated through recommendations shared via Telegram channels, led to inflated stock prices, causing losses to public shareholders. Sebi's actions come as part of its efforts to regulate stock market manipulation activities and financial influencers on social media platforms. Pump and dump schemes involve artificially inflating stock prices through false information, followed by selling at the inflated price, resulting in significant investor losses. Regulators like Sebi are actively working to ban such schemes and protect investors from fraudulent activities in the stock market.

The Reserve Bank of India (RBI) is set to modernise the Guidelines for Export and Import of Goods and Services under the Foreign Exchange Management Act (FEMA), 1999, in response to evolving international trade dynamics. RBI Governor Shaktikanta Das announced the forthcoming issuance of draft guidelines for public feedback, aiming to align the regulations with the progressive liberalisation of foreign exchange policies. The objectives include enhancing ease of doing business and providing greater operational flexibility to authorised dealer banks. India's export sector witnessed a significant milestone in FY24, with exports reaching $776.68 billion, showcasing a slight increase from the previous fiscal year. Import statistics also saw adjustments, with a decrease of 5.66% to $675.44 billion in FY24. India's efforts to diversify its export portfolio beyond traditional sectors like iron ore and agriculture are underway, with a focus on expanding into electronics, pharmaceuticals, engineering products, and various food items. The Ministry of Commerce is actively promoting initiatives to introduce new export offerings, including alcohol beverages, prepared meals, confectioneries, and value-added products like jackfruit and bananas.

The Reserve Bank of India (RBI) is grappling with persistent inflationary pressures, hindering early expectations of rate cuts. Despite some moderation in prices, the RBI maintains a CPI inflation projection of 4.5% for the current fiscal year. Governor Shaktikanta Das emphasizes the difficulty in achieving the 4% inflation target, particularly due to stubborn food inflation. Economists anticipate a cautious approach from the RBI, with expectations of a shallow rate cut cycle starting from December 2024. Rising food prices, coupled with global commodity price increases, pose significant challenges to inflation management. The Monetary Policy Committee (MPC) is expected to remain vigilant, prioritizing the assessment of evolving risks before making policy decisions.

The Reserve Bank of India (RBI) recently announced a comprehensive strategic roadmap aimed at modernizing and strengthening India's financial ecosystem. At the heart of this agenda are initiatives to liberalize the capital account, globalize the Indian rupee, and revolutionize the digital payment landscape. These efforts are intended to attract foreign investment, enhance economic growth, and position India as a leader in global finance. Governor of the RBI emphasized the importance of collaboration among stakeholders to realize the vision of a modern and resilient financial system, driving economic prosperity for the nation.

Indian Highways Management Company Limited (IHMCL), under the National Highways Authority of India (NHAI), has announced plans to implement a GNSS-based Electronic Toll Collection (ETC) system to improve toll operations and user experience on National Highways. The initiative invites global companies to express interest in developing robust Toll Charger Software for this system. Initially, a hybrid model integrating both RFID-based and GNSS-based ETC will be deployed, with dedicated GNSS lanes at toll plazas. The system aims to offer barrier-free tolling, distance-based charges, and enhanced efficiency by reducing leakages and checking toll evasion. Interested companies are to submit their interest by July 22, 2024.

SEBI, India's securities regulator, has introduced a comprehensive framework aimed at addressing the proliferation of misinformation and speculative activities in the stock market. The framework includes enhanced surveillance mechanisms, real-time monitoring of social media channels, collaboration with regulatory bodies, and initiatives to raise investor awareness about the risks associated with trading based on unverified information. Market analysts and experts have welcomed SEBI's proactive stance, highlighting its significance in maintaining market integrity and bolstering investor confidence amidst the challenges posed by digital platforms and social media.

The Preston curve, introduced by Samuel H. Preston in 1975, illustrates a noteworthy association between life expectancy and per capita income within countries. Initially, as countries experience economic growth, there is a substantial increase in life expectancy due to improved living standards and healthcare access. However, this correlation diminishes beyond a certain point, highlighting the concept of diminishing returns. The Preston curve's implications extend to various development indicators, including infant mortality, education, and healthcare. Debates persist regarding the causal relationship between economic growth and development outcomes, with some emphasizing public investment in healthcare and technology as crucial factors. Additionally, technological advancements and technology transfers play pivotal roles in shaping development outcomes, particularly in poorer nations.

The inaugural United Nations Global Supply Chain Forum, organized by UNCTAD and the Government of Barbados, addressed escalating disruptions in global supply chains. Over 1,000 participants from around the world, including key figures from small island developing states (SIDS), convened to tackle pressing issues such as climate change and geopolitical tensions. Discussions emphasized the role of ports in maintaining global value chains through advanced technologies and sustainable practices, with Barbados positioned as a model for other SIDS. Key outcomes included the launch of initiatives like the "Manifesto for Intermodal, Low-Carbon, Efficient and Resilient Freight Transport and Logistics" and the UN Trade and Development Trade-and-Transport Dataset, aiming to enhance global trade optimization and support evidence-based policymaking. Future collaborations, including a Memorandum of Understanding with CCPIT and Saudi Arabia hosting the second forum in 2026, aim to further strengthen global supply chains.

Bank employees, under the banner of the All India Bank Employees' Association (AIBEA), have introduced Bank Clinic, a complaint redressal platform aimed at assisting retail customers in navigating their grievances. Through the website Banksclinic.com, customers can register complaints and receive guidance on available remedies within five days. While not directly resolving queries, Bank Clinic provides essential regulatory guidelines to empower customers. Key figures within the banking sector, including CH Venkatachalam and Rajkiran Rai, have lauded the initiative, highlighting its significance in addressing the evolving needs of digital banking customers.

In the realm of economics, the relationship between inequality and growth is a contentious topic. Proponents argue that inequality incentivizes innovation and entrepreneurship, while critics point to its negative effects on social mobility and economic prosperity. However, the relationship is complex, influenced by factors such as redistribution policies, cultural attitudes, and institutional frameworks. Understanding this complexity is crucial for policymakers striving to foster sustainable and inclusive growth.

A recent nationwide dietary survey in India has unveiled troubling patterns in dietary preferences, with a significant portion of the population leaning towards fried snacks and processed foods over healthier alternatives. Lead researcher Dr. Meera Sharma expressed deep concern over the potential health implications of these choices, highlighting the well-established links between such dietary patterns and conditions like obesity, cardiovascular diseases, and diabetes. Disparities in dietary habits across regions and socioeconomic strata were also noted, with urban areas showing a higher reliance on processed foods. Despite the availability of nutritious options in Indian cuisine, there is a notable lack of consumption of these healthier choices. Urgent public health initiatives are needed, including education, improving access to affordable healthy foods, and implementing regulations on processed products. Collaboration between policymakers, healthcare professionals, and civil society is crucial to address the dual challenges of rising lifestyle-related diseases and nutritional deficiencies in India.

The Reserve Bank of India (RBI) has unveiled a comprehensive framework for the establishment of a Self-Regulatory Organization (SRO) within the FinTech sector. This framework aims to streamline regulatory oversight while fostering innovation and growth. Emphasizing principles such as transparency, accountability, and consumer protection, the RBI seeks to strike a balance between regulatory compliance and innovation promotion. The SRO is expected to enhance regulatory efficiency, expedite decision-making processes, and facilitate collaboration between industry players and regulatory authorities. Overall, the introduction of the SRO framework marks a significant step towards nurturing innovation and ensuring robust regulatory oversight in India's FinTech landscape.

In the financial year 2023-24 (FY24), Indian companies significantly increased their external commercial borrowings (ECBs), with registrations nearly doubling to $49.2 billion from $26.6 billion in FY23, as reported by the Reserve Bank of India (RBI). Net inflows improved to $9.5 billion, despite a rise in the overall cost of ECB loans due to elevated global benchmark interest rates. ECB disbursements also rose to $38.4 billion in FY24 from $23.8 billion in FY23. A State Bank of India executive noted that domestic fund availability is under pressure due to high loan growth, leading companies to seek overseas markets for reasonably priced ECBs. More than 70% of ECBs in FY24 were effectively hedged, mitigating external shocks. Funds were broadly utilized, with a notable increase in sourcing capital goods, modernization, and infrastructure development. The overall cost of ECB loans increased by 516 basis points between March 2022 and March 2023, although the weighted average margin reflecting the risk premium decreased slightly to 159 basis points in FY24.

In a strategic move aimed at revolutionizing India's financial infrastructure, the Reserve Bank of India (RBI) has unveiled three innovative digital platforms. The Pravaah portal, Retail Direct Mobile App, and FinTech Repository are designed to enhance financial inclusion, simplify investment processes, and foster collaboration between traditional financial institutions and emerging FinTech startups. These initiatives reflect RBI's commitment to harnessing technology for the greater good of the financial sector and shaping the future of finance in India's evolving digital economy.

India's trade data for the fiscal year 2023-24 reveals a persistent trade deficit with nine out of its top ten trading partners, including China, Russia, Singapore, and Korea. Despite a narrowing deficit with some countries like the UAE, Saudi Arabia, and Indonesia, deficits with key partners like China, Russia, Korea, and Hong Kong have increased. China has overtaken the United States as India's largest trading partner, with bilateral trade reaching $118.4 billion. While India enjoys a trade surplus with the US and a few other countries, concerns regarding economic instability due to rising deficits have been highlighted by economic experts. The Global Trade Research Initiative (GTRI) emphasizes the importance of strategies to boost exports, reduce unnecessary imports, and manage currency and debt levels effectively to address the growing trade deficit and ensure economic stability.

The Income Tax department has unveiled the Cost Inflation Index (CII) for the current fiscal year, an annual release that significantly impacts taxation on capital gains for individual taxpayers, businesses, and investors. The CII serves as a crucial tool in computing the inflation-adjusted purchase price of capital assets, ensuring fair taxation based on real gains accrued over the holding period. This announcement comes at a critical time, providing taxpayers with essential information for financial planning and investment decisions amidst evolving economic conditions. The release of the CII underscores the Income Tax department's commitment to transparency and efficiency in taxation, empowering taxpayers to make informed decisions regarding asset acquisition, disposal, and investment strategies.

The World Intellectual Property Organization (WIPO) has recently finalized a significant treaty aimed at conserving biodiversity and safeguarding indigenous knowledge. India played a prominent role in advocating for provisions protecting the rights of nations with rich biodiversity. The treaty establishes clear guidelines for accessing genetic resources and traditional knowledge, emphasizing prior informed consent and mutually agreed terms. Additionally, it prioritizes capacity-building initiatives and technology transfer to empower developing countries. This treaty reflects a shared commitment among WIPO member states to address the complex intersection of intellectual property rights, biodiversity conservation, and cultural preservation.

In today's economically volatile landscape, pre-pack insolvency arrangements have emerged as a crucial strategy for companies teetering on the edge of collapse. This structured approach involves negotiating the sale of distressed company assets before formal insolvency proceedings, offering a lifeline to struggling businesses. Through swift execution of pre-pack insolvency deals, companies can shed burdensome debt, restructure operations, and emerge stronger on the other side. Two notable success stories include a mid-sized manufacturing firm and a family-owned retail chain, both of which managed to salvage their businesses and preserve their legacies through pre-pack administration. These cases underscore the importance of agility and innovation in corporate restructuring, highlighting the streamlined path to rehabilitation and recovery that pre-pack administration offers in the face of financial distress. As the business landscape continues to evolve, pre-pack administration is expected to remain a vital tool for companies navigating turbulent times.

In a significant decision, the Supreme Court has upheld the Institute of Chartered Accountants of India's (ICAI) regulation that limits the number of tax audits a chartered accountant (CA) can perform each year. The ruling, set to be enforced from April 1, 2024, aims to ensure the highest standards of diligence and accuracy in tax audits by preventing overburdening of CAs and maintaining audit quality. While met with mixed reactions from the CA community, the decision underscores the importance of quality and integrity in financial auditing, marking a notable development in India's accounting profession regulation.

Airbus Helicopters and the Small Industries Development Bank of India (SIDBI) have joined forces through a Memorandum of Understanding (MoU) to revolutionize helicopter financing options in India. This collaboration aims to provide more accessible and affordable financing solutions for helicopter purchases and leases, benefiting sectors like tourism, healthcare, law enforcement, and corporate travel. With tailored financial products, the partnership intends to support the growth of India's helicopter market, facilitating easier acquisition and operation of helicopters for businesses and government entities. Statements from key figures, including Bruno Even, CEO of Airbus Helicopters, and Sivasubramanian Ramann, SIDBI Chairman and Managing Director, emphasize the significance of this collaboration in enhancing helicopter services accessibility and fostering innovation within India's aviation sector. This strategic partnership is poised to create new opportunities for local businesses, enhance operational efficiency across industries, and shape the future of India’s aviation landscape.

Leaders and policymakers worldwide are gearing up for discussions on the renewal of the Generalized System of Preferences (GSP), a cornerstone program established by the United Nations Conference on Trade and Development (UNCTAD) in 1968. The GSP offers preferential tariff treatment to exports from eligible developing countries, aiming to foster equitable trade relations between developed and developing nations. Proponents highlight its role in promoting economic growth, reducing poverty, and enhancing competitiveness in beneficiary countries. As negotiations unfold, stakeholders emphasize the importance of addressing challenges such as sustainable development, market access barriers, and transparency in implementation. Despite these challenges, there is optimism among stakeholders regarding the potential of GSP renewal to contribute to inclusive economic growth and poverty reduction worldwide, reaffirming the commitment to trade equity and cooperation on a global scale.

The Reserve Bank of India (RBI) has announced a significant reduction in the volume of treasury bill sales to manage liquidity in the financial system and stabilize short-term interest rates. The new auction schedule will feature a lower issuance volume compared to previous months. This move is designed to ensure adequate liquidity while preventing undue pressure on interest rates. The RBI will monitor market developments closely and adjust its issuance strategy as needed to maintain financial stability. Treasury bills, crucial for short-term government borrowing, help manage the amount of money circulating in the economy and overall economic activity. Financial analysts suggest this decision aligns issuance with market absorption capacity, ensuring smoother auction processes and better interest rate management.

In a significant milestone for the marble industry of Gujarat, Ambaji marble has been honored with the esteemed Geographical Indication (GI) tag, highlighting its unique quality and heritage. Situated in the Aravalli Range of North Gujarat, Ambaji marble is renowned for its impeccable quality, durability, and aesthetic appeal. The GI tag not only signifies authenticity but also protects the intellectual property rights associated with the marble, preventing unauthorized use and imitation. Anticipating a surge in demand both domestically and internationally, local traders and stakeholders welcome this development. Furthermore, the GI tag is expected to enhance the market value of Ambaji marble, stimulate business growth through investment in infrastructure and marketing, and catalyze economic development and prosperity for local communities. This recognition underscores the significance of geographical indications in preserving cultural heritage, promoting sustainable development, and showcasing India's rich cultural legacy on the global stage.

The 4th Joint Committee meeting for the review of the ASEAN-India Trade in Goods Agreement (AITIGA) convened in Putrajaya, Malaysia, from 7-9 May 2024. Chaired by Shri Rajesh Agrawal from India and Ms. Mastura Ahmad Mustafa from Malaysia, the meeting aimed to enhance trade facilitation and benefits for businesses across the region. Delegates from India and all 10 ASEAN countries participated in the discussions. The meeting marked significant progress since discussions began in May 2023, with the Joint Committee meeting four times so far. The Terms of Reference and Negotiating Structure were finalized in earlier meetings, with negotiations initiated in February 2024. Eight Sub-Committees were formed, with five actively engaged in discussions, addressing various policy areas. Physical meetings were held for several Sub-Committees alongside the 4th AITIGA Joint Committee. The enhancement of AITIGA is expected to boost bilateral trade, which stood at USD 122.67 billion during 2023-24. The next Joint Committee meeting is scheduled for July 2024 in Jakarta, Indonesia.

The stock market has experienced significant volatility recently, coinciding with the ongoing Lok Sabha elections. This volatility has prompted a surge in interest in swing trading, a strategy that seeks to profit from short- to medium-term fluctuations in stock prices. Swing traders capitalize on the swings in price movements by holding positions for several days or weeks, aiming to enter and exit trades strategically based on support and resistance levels. While swing trading offers flexibility and can be less time-consuming compared to day trading, traders must navigate market unpredictability and employ a combination of fundamental and technical analysis techniques to identify profitable opportunities.

A major investor's strong opposition to Reliance Capital Ltd's resolution plan has raised doubts about its effectiveness and fairness. The investor, choosing to remain anonymous, has expressed concerns regarding the treatment of minority shareholders, transparency in asset valuation, and the overall feasibility of the proposed plan. This dispute comes at a critical time for Reliance Capital Ltd, amidst mounting debt, regulatory hurdles, and corporate governance issues. Stakeholders eagerly await further developments as the resolution of this confrontation could significantly impact the company's future and India's financial landscape.

In the realm of intellectual property rights, Standard Essential Patents (SEPs) are pivotal, covering essential technologies crucial for compliance with industry standards. However, recent legal developments have highlighted challenges surrounding SEPs, leading to a complex landscape where innovation intersects with legal intricacies. Judicial involvement has significantly increased, especially in interpreting and enforcing fair, reasonable, and non-discriminatory (FRAND) licensing terms. The global nature of technology markets further complicates matters due to jurisdictional differences in legal frameworks. This heightened judicial scrutiny impacts market dynamics, investment decisions, and technological advancement, fostering uncertainty for companies navigating the SEP landscape. Stakeholders are responding by exploring collaboration and dialogue to establish best practices and foster transparency in licensing negotiations, aiming to shape a more predictable and innovation-friendly environment.

Indian Renewable Energy Development Agency (IREDA) witnessed a significant surge in its share price, rising over 10% in Monday's session, following the announcement of attaining 'Navratna status' from the Department of Public Enterprises. The company's share price opened at ₹186.20 on the BSE, touching an intraday high of ₹191.50 and an intraday low of ₹182.05. Analysts, including Rajesh Bhosale from Angel One, foresee a strong upside potential for IREDA's shares, particularly if the stock sustains above the crucial level of ₹180. The 'Navratna' classification is viewed as a significant milestone for IREDA, enabling it to expedite its goals and operations without the need for government clearance, especially for Joint Ventures (JVs) in India and abroad. Furthermore, IREDA reported robust financial performance for the quarter ending in March 2024, with a 33% rise in net profit and a significant increase in revenue. Since its debut in November, IREDA's share price has seen a remarkable gain of over 480%, reflecting investor confidence in the company's prospects.

The age-old art of Ajrakh printing, renowned for its mesmerizing patterns and vibrant hues, has received a significant boost with the award of a Geographic Indication (GI) tag. This recognition acknowledges Ajrakh's unique geographical origin and authentic production techniques, distinguishing it from imitations or replicas. Ajrakh artisans, who meticulously handcraft each piece using traditional methods passed down through families, express joy and relief at this official recognition, which also promises protection against counterfeit products flooding the market. The journey to obtain the GI tag was marked by collaborative efforts from artisans, government authorities, and cultural enthusiasts, showcasing the historical significance and distinctive qualities of Ajrakh on national and international platforms. With the GI tag in place, Ajrakh from Kutch is poised to enhance its global market presence, attracting enthusiasts of fine craftsmanship and fostering sustainable economic growth in the region, while emphasizing the importance of preserving indigenous art forms and empowering local communities through cultural heritage.

The Securities and Exchange Board of India (SEBI) has taken proactive measures to reinforce the regulatory framework governing mutual funds, particularly targeting front-running activities within asset management companies (AMCs). Front-running, a form of market manipulation where insiders execute trades based on advance knowledge of impending transactions, has been a persistent issue in the financial markets. SEBI's regulatory adjustments include enhanced disclosure requirements, stricter monitoring mechanisms, and heightened penalties for violations, aimed at fostering greater transparency and accountability within the mutual fund industry. Market participants and industry stakeholders have welcomed these changes, recognizing their significance in promoting a level playing field and restoring trust in the mutual fund ecosystem. These regulatory amendments are anticipated to create a more equitable and transparent operating environment, ultimately benefiting investors and bolstering the long-term sustainability of the mutual fund industry.

In a significant move aimed at shoring up Pakistan's economic stability, the International Monetary Fund (IMF) has greenlit the disbursement of a $1.1 billion loan tranche. This decision comes amidst mounting economic pressures in Pakistan, exacerbated by factors like high inflation, dwindling foreign reserves, and a widening fiscal deficit, compounded further by the COVID-19 pandemic. The approved loan, part of Pakistan's Extended Fund Facility (EFF) arrangement with the IMF, is earmarked to address macroeconomic imbalances and implement crucial structural reforms. Key targets include fiscal consolidation, revenue mobilization, and reforms in sectors such as taxation and energy. While providing much-needed breathing room for Pakistan's economy and restoring investor confidence, this development underscores the necessity for sustained reform efforts and addressing underlying structural challenges to ensure long-term economic resilience and prosperity.

The paradox of savings, a concept popularized by economist John Maynard Keynes, challenges the notion that increased individual savings always benefit the economy. It suggests that higher savings rates can paradoxically lead to a decrease in overall savings, contrary to common belief. Keynesian economists argue that this phenomenon can hinder economic growth by reducing consumer spending and overall demand. However, critics contend that increased savings prompt a reallocation towards long-term investments, ultimately contributing to economic growth. This debate underscores the complexities of economic theories surrounding savings and investment strategies.

In a proactive move, the Reserve Bank of India (RBI) has launched two pivotal surveys aimed at fortifying its monetary policy framework. The Business Expectations Survey (BES) is designed to gauge sentiments and expectations of businesses across sectors regarding economic parameters such as production, employment, and sales. Simultaneously, the central bank has introduced the Consumer Confidence Survey (CCS) to capture sentiment and confidence levels among consumers regarding their income, spending patterns, and overall economic well-being. These surveys are poised to serve as indispensable tools for the RBI in fine-tuning its monetary policy stance by gathering real-time data on economic sentiments and financial conditions from businesses and consumers alike. The launch of these surveys underscores the RBI's commitment to fostering transparency, inclusivity, and responsiveness in its policymaking process, aiming to steer monetary policy in a direction that fosters sustainable growth, employment generation, and financial stability amidst the evolving global dynamics.

The Reserve Bank of India's (RBI) latest Monetary Policy Report underscores the growing influence of climate change on economic stability, emphasizing extreme weather events and climate shocks. Through the adoption of a New-Keynesian model integrating climate risk factors, the report predicts a potential 9% decrease in long-term economic output by 2050 without climate mitigation policies. Moreover, it warns of inflation hysteresis undermining the central bank's credibility, necessitating higher interest rates to control inflation. In response, the RBI has taken steps towards a green economy, issuing Sovereign Green Bonds and allowing Foreign Institutional Investors to invest in green government securities. However, it calls for a thorough assessment of climate change's impact on financial stability and the development of a comprehensive green taxonomy to guide sustainable investments.

The Reserve Bank of India (RBI) has introduced comprehensive guidelines aimed at regulating offline payment aggregators in response to the growing landscape of digital payments in India. Recognizing the necessity of robust governance mechanisms in various offline sectors such as retail, restaurants, and utility services, the RBI emphasizes consumer data security, transaction integrity, and overall financial ecosystem stability. Key recommendations include mandatory registration, stringent compliance measures, establishment of grievance redressal mechanisms, and emphasis on periodic audits and operational transparency. The move underscores RBI's commitment to fostering innovation while ensuring a secure financial infrastructure, essential for India's journey towards a predominantly digital economy.

Khanij Bidesh India Limited (KABIL) and the Council of Scientific and Industrial Research - National Geophysical Research Institute (CSIR-NGRI) have entered a Memorandum of Understanding (MoU) to bolster collaboration in geophysical investigations. The agreement, signed by key representatives of both entities at NALCO Corporate Office in Bhubaneswar, aims to enhance ongoing projects in critical and strategic minerals. This partnership underscores a commitment to leveraging scientific expertise for data analysis, interpretation, and technical support.

The Spices Board, under the Indian commerce ministry, has taken proactive steps following bans on certain Indian spice brands like MDH and Everest in Singapore and Hong Kong due to quality concerns. Mandatory testing of spice consignments, collaboration with exporters for root cause analysis, and stringent inspections at exporter facilities are underway. Additionally, the board is issuing advisories, coordinating with Indian embassies, and updating regulations to ensure consumer health and safety. NABL accredited laboratories are prepared to test for ETO contamination in spice consignments, reflecting the board's commitment to upholding the reputation of Indian spice brands worldwide while prioritizing food safety and quality.

The Centre is set to revamp the National Career Service (NCS) portal, which has been operational for nine years, with the aim of better connecting millions of youths with potential employers. The Ministry of Labour and Employment is leading the upgrade, titled NCS 2.0, which will incorporate artificial intelligence (AI) and machine learning (ML) technologies to enhance efficiency. Additionally, the upgraded portal will feature microsites tailored for states and districts, facilitating localized engagement. The launch of NCS 2.0 is expected within the next six to nine months, according to government officials.

Amid escalating geopolitical tensions, economic uncertainties, and the prospect of lower US interest rates, gold has emerged as a favored investment in China. Factors such as limited investment options, a weakening yuan, and volatile stock markets are driving Chinese investors towards the perceived safety of gold. Record levels of gold consumption in China, coupled with increasing imports and purchases by the People's Bank of China, underscore the nation's growing appetite for the precious metal. Financial experts caution against overreliance on gold but recommend strategic inclusion in investment portfolios for diversification and risk mitigation. Preferred investment vehicles like Sovereign Gold Bonds (SGBs) and Gold ETFs are highlighted for their benefits and suitability for varying holding periods. Despite short-term volatility, gold investment remains essential for a well-diversified portfolio amidst uncertain economic conditions.

The Delhi High Court has drawn attention to the income eligibility criteria for accessing aid from Arogya Nidhi, a government scheme providing medical treatment assistance to economically weaker sections. Expressing dissatisfaction with the current low income threshold, the court emphasized the need for equitable access to medical aid for all citizens, regardless of financial status. Critics argue that the existing criteria fail to consider rising healthcare costs, exacerbating disparities in healthcare access. Stakeholders anticipate a proactive response from authorities to address concerns and create a more inclusive healthcare system.

Amidst growing discontent, India, alongside several other nations, has raised objections against the European Union's decision to uphold safeguard measures on certain steel imports following a review. Critics argue that the EU's actions run afoul of WTO regulations, contending that the safeguard should have been terminated post-review. Similarly, the United Kingdom faces scrutiny for maintaining its safeguard measures without adhering to WTO rules. While the EU defends its stance, asserting compliance with dispute rulings, India retaliates by proposing additional import duties on EU products and levying tariffs on select UK imports. The escalating tensions underscore the complexity of international trade dynamics and the imperative for adherence to established regulations.

The Andhra Pradesh High Court recently delivered a significant ruling regarding copyright law in the realm of educational materials. In a case brought by a publishing house challenging a government order from 2010, the court declared that textbooks dealing with mathematical equations and science subjects do not fall under copyright law due to their non-literary nature. The ruling quashed the government order restricting private publication of textbooks and dismissed a criminal case against the publishing house's owner. The court upheld the publisher's actions under fair use exceptions specified in the Copyright Act, affirming that educational materials, including textbooks, are protected. This decision has broader implications for the interpretation of copyright law in educational contexts, highlighting the distinction between literary and non-literary works and affirming the fair use provisions of the Copyright Act.

The Indian economy grapples with a significant issue as private investment, measured by Gross Fixed Capital Formation (GFCF) as a percentage of GDP, fails to gain momentum. Despite government efforts to spur investment, including corporate tax cuts, private investment has steadily declined since 2011-12. Historically, private investment surged after the economic reforms of the late-1980s and early-1990s but has since faltered, reaching a low of 19.6% of GDP in 2020-21. Economists debate the reasons behind this decline, with some attributing it to low private consumption expenditure while others cite structural problems and policy uncertainty. The implications of low private investment include slower economic growth, sparking discussions about the role of government investment and its potential impact on crowding out private investment.

The Asian Development Bank (ADB) conducted a simulation to assess the potential effects of a 'higher for longer' interest rate scenario on emerging economies, particularly focusing on India. The simulation indicates that India is likely to experience significant impacts, including an uptick in inflation by 0.4 percentage points and a slight dip in GDP growth by under 0.2 percentage points in 2025. The primary mechanisms driving these effects are interest rate differentials and currency depreciation, which lead to higher imported inflation. While currency depreciation may initially benefit India's export competitiveness, concerns arise for future years as monetary easing in the U.S. and Euro areas could offset these gains. Additionally, geopolitical risks and rising shipping costs pose additional challenges to inflation pressures in the region.

India has taken a significant step towards bolstering its green finance initiatives by allowing Foreign Institutional Investors (FIIs) to invest in its green bonds, departing from previous restrictions primarily targeting domestic players. This decision aligns with India's broader goals of attracting capital for sustainable development projects, particularly in renewable energy and climate-resilient infrastructure. By diversifying its investor base and tapping into global capital markets, India aims to reduce reliance on domestic funding sources, spread risk, and enhance transparency in its green projects. While the move presents opportunities for growth, careful monitoring and regulation are crucial to ensure that foreign investments effectively contribute to India's sustainable development goals.

The Indian government has implemented a streamlined payment mechanism aimed at enhancing trade efficiency and strengthening the importation of pulses from Myanmar. This initiative seeks to address the challenges faced by traders and expedite the import process, ultimately fostering a conducive environment for trade between the two countries. By simplifying payment procedures, the government aims to incentivize greater participation from traders, thereby increasing the availability of pulses in the domestic market and contributing to India's food security goals.

In the world of Fast Moving Consumer Goods (FMCG), shrinkflation has become a prominent tactic utilized by manufacturers to navigate economic uncertainties. This practice involves reducing product sizes while maintaining prices, allowing companies to offset inflation and rising production costs without overtly alarming consumers with price hikes. While industry experts defend shrinkflation as a necessary measure, consumer advocates express concerns about its deceptive nature, potentially eroding consumer trust. The future implications of shrinkflation remain uncertain, as consumers may become more vigilant about product sizes and pricing, prompting manufacturers to explore alternative strategies to maintain profitability without compromising consumer satisfaction.

The Financial Services Institutions Bureau (FSIB) recently concluded interviews for pivotal roles in state-owned banks and financial organizations. Following rigorous evaluations, Manoj Mittal has been proposed as the Chairman and Managing Director of SIDBI, while Sanjay Shukla has been recommended for the role of Managing Director at NHB. Mittal, currently serving as the Managing Director at IFCI, has a distinguished record, having previously held the position of Deputy Managing Director at SIDBI. His expertise in shaping and implementing strategic visions makes him a promising candidate for the leadership role at SIDBI. Shukla, currently associated with Centrum Housing Finance, brings a wealth of experience from his tenure at LIC Housing Finance. These recommendations, based on performance, experience, and existing parameters, await final approval from the Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi. The FSIB, spearheaded by Bhanu Pratap Sharma, former Secretary of the Department of Personnel and Training, comprises members with extensive banking sector backgrounds, ensuring a thorough and well-informed selection process.

The Asian Development Bank (ADB) released its Asia Development Outlook report, providing insights into India's economic trajectory over the next two years. Despite a projected slowdown in GDP growth from 7.6% in 2023-24 to 7% in the current year, with an improvement to 7.2% in 2025-26, India's economy is anticipated to remain robust. The report forecasts a decline in retail inflation to 4.6% this year and 4.5% in 2025-26, attributing it to a normal monsoon and improved farm output. Rural consumption, previously subdued due to erratic rainfall, is expected to revive with the anticipated normal monsoon. The report highlights the role of higher incomes and improved urban consumer confidence in driving consumer demand. However, it also warns of potential risks, including global shocks such as a spike in crude oil prices and underperformance in agriculture due to weather shocks. Despite these challenges, India's growth is projected to be driven by public and private sector investment demand, with gradual improvements in consumer demand and export outlook over the forecast period.

The National Investment and Infrastructure Fund Ltd. (NIIF) has injected $200 million into iBUS Network and Infrastructure Pvt Ltd., a connectivity technology firm, to bolster India's digital infrastructure. This investment aims to fuel iBUS's expansion efforts in various connectivity segments, including in-building solutions, outdoor small cells, managed Wi-Fi services, and emerging sectors like IoT solutions. NIIF's strategic investment also focuses on developing innovative infrastructure solutions to meet evolving market demands and technological advancements. Following the transaction, NIIF will hold a significant majority stake in iBUS, aligning with the company's vision to transform connectivity in India. Key figures from both organizations expressed enthusiasm for the partnership, emphasizing the transformative power of digital technology for India's economy.

The Rs 5-trillion domestic fast-moving consumer goods (FMCG) market encounters challenges despite a positive outlook for the March 2024 quarter. NielsenIQ reports rural market outperformance in volume growth attributed to price reductions, but concerns persist over inflationary commodity costs. Industry leaders like Dabur India and Godrej Consumer (GCPL) foresee subdued conditions, while analysts project continued market subduedness due to global slowdown and weather uncertainty. Bizom's outlook for 2024 is awaited, following a sluggish 2% overall growth in FMCG sales in CY23.

The International Monetary Fund (IMF) has cautioned against the sole dependence on industrial policy initiatives to drive economic growth, highlighting the risks and challenges associated with such strategies. While acknowledging the potential of industrial policy to stimulate innovation, the IMF emphasizes the need for a diversified approach. The IMF's assessment, outlined in a chapter of its forthcoming Fiscal Monitor, underscores concerns regarding high fiscal costs, the potential for policy capture by special interests, and the exacerbation of geo-economic tensions. The IMF recommends a broader mix of policies to support innovation, including increased public funding for fundamental research and inclusive tax incentives. Additionally, the IMF advises less technologically advanced countries to focus on promoting technology diffusion through investments in education, infrastructure, and digital skills.

The recent verdict by the Supreme Court resolves a contentious issue regarding the liability of legal heirs in partnership firms upon the death of a partner. The case originated from a dispute where creditors sought to hold legal heirs responsible for the debts of a partnership firm. The Supreme Court ruled that upon the death of a partner, the partnership firm undergoes dissolution to the extent of that partner's share, limiting liabilities to the firm's assets. This decision offers relief to families, prevents undue burden on legal heirs, and sets a clear precedent for future cases. It emphasizes the importance of understanding partnership law and ensures fairness and justice within the realm of contractual obligations.

Amid an indefinite ban on onion exports, discontent brews among Indian farmers and traders as certain shipments permitted by the government to the United Arab Emirates (UAE) are being sold at significantly lower prices abroad, yielding substantial profits for selected importers. Despite the ban, exceptions were made for exports to specific countries, including the UAE, aggravating concerns about the domestic shortage of this politically sensitive crop. Export dynamics reveal a stark contrast between the minimal earnings of Indian farmers, receiving ₹12-₹15 per kg for onions meant for export, and the soaring prices in UAE markets, where the same onions fetch over ₹120 per kg. Export processes facilitated by the National Cooperative Exports Limited (NCEL) raise questions about transparency and pricing mechanisms, prompting calls from horticulture exporters for clarity and market-linked pricing strategies.

Indian Startup Ecosystem Faces Funding Winter: Global VC Investments Plummet by 80% in 2023

The Reserve Bank of India (RBI) has unveiled plans to launch a mobile application aimed at facilitating retail investors' seamless investment in government securities. This initiative, an extension of RBI’s Retail Direct scheme, intends to enhance individual participation in government bonds and deepen the G-sec market. The app will enable investors to buy central and state government bonds, Treasury bills, and participate in primary auctions through the NDS-OM platform. It offers convenient payment options and support facilities, including transaction and balance statements, nomination facility, and more. Eligible retail investors can register under the scheme and maintain an RDG account by fulfilling specific criteria, including holding a Rupee savings bank account in India, possessing a PAN card, and providing KYC documents, email ID, and registered mobile number.

The Reserve Bank of India (RBI) has decided to postpone the implementation of regulations concerning exchange-traded currency derivatives. Initially scheduled for this quarter, the postponement follows feedback from various market players and stakeholders. The RBI aims to ensure a smooth transition and effective implementation of regulatory measures by engaging further with stakeholders to address concerns. This decision reflects the RBI's commitment to maintaining a prudent and flexible regulatory framework. It signifies the central bank's proactive stance in fostering a conducive environment for financial market participants while ensuring stability and integrity within the currency derivatives segment. Further clarity and guidance on the revised timeline for implementing these regulations are anticipated as the RBI continues its dialogue with stakeholders and evaluates market conditions.

In a bid to safeguard borrowers' interests and promote transparency within the banking sector, the Reserve Bank of India (RBI) has unveiled fresh guidelines regarding penal charges on loans. These guidelines aim to standardize fee structures, impose caps on penal charges, emphasize transparency in loan agreements, and strike a balance between protecting borrowers and maintaining the stability of the banking sector. While welcomed for enhancing consumer protection, concerns have been raised regarding their potential impact on banks' profitability. Nevertheless, the RBI's initiative is poised to reshape the lending landscape in the country, fostering trust and confidence among borrowers.

SEBI, the Securities and Exchange Board of India, has unveiled the latest version of its Complaint Redress System, known as SCORES 2.0. This upgraded system aims to streamline the process of resolving investor complaints within the securities market. SCORES 2.0 introduces several features such as auto-routing, reduced timelines, and a two-tier review process to enhance efficiency and effectiveness. Additionally, the system will be seamlessly integrated with the KYC Registration Agency database for simplified investor registration.

In response to the escalating threat of cyber fraud, the Reserve Bank of India (RBI) is considering the creation of a Digital India Trust Agency (DIGITA). This agency aims to tackle the proliferation of illegal lending apps, which have become a hotbed for fraudulent activities. DIGITA will be tasked with verifying digital lending apps and maintaining a public register of verified apps, providing law enforcement with a pivotal tool in the fight against financial crimes in the digital realm. Additionally, Google has taken steps to address the issue by updating its policy regarding loan apps on the PlayStore, under the request of RBI and the Department of Financial Services (DFS) under the Finance Ministry.

Cumbum Valley, renowned as the "grapes city of south India," is celebrated for its cultivation of Muscat Hamburg grapes, locally known as panneer thiratchai. This valley stands as a prominent contributor, supplying up to 85% of panneer thiratchai grapes across India. Notably, the Muscat Hamburg variety, favored for its rapid growth and year-round availability, dominates grape cultivation in Tamil Nadu's Theni district. Despite facing challenges such as limited exports and the need for governmental support, Cumbum Valley farmers employ hi-tech farming practices to ensure consistent yields, contributing significantly to the region's economy. The establishment of the Grapes Research Station and government initiatives aimed at supporting grape farmers underscore the valley's commitment to sustainable agriculture and economic growth.

Indian banks are undergoing a significant transformation in their asset quality management practices, with a forecasted reduction in Gross NPAs by the fiscal year 2024-25. This transformation is driven by regulatory reforms and the imperative to fortify the banking sector against the lingering impacts of the COVID-19 pandemic. Banks are adopting measures such as enhanced risk assessment frameworks, rigorous credit monitoring mechanisms, and proactive restructuring initiatives. Regulatory support from the Reserve Bank of India (RBI) is empowering banks to navigate economic challenges effectively. The anticipated decline in Gross NPAs reflects collective efforts aimed at restoring asset quality, fostering stability in the banking sector, and enhancing confidence among investors and stakeholders.

Efforts to rejuvenate the Musi River in Hyderabad are progressing, aiming to replicate the successful transformation of the River Thames in London. Central to this endeavor is the installation of new sewage treatment plants (STPs) along the river's 55-km stretch, from Narsingi to Gowrelli. Under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme, 39 additional STPs have been sanctioned by the Union Ministry of Housing and Urban Affairs, supplementing the 31 previously sanctioned by the state government. The Hyderabad Metropolitan Water Supply and Sewerage Board (HMWS&SB) is overseeing the implementation of these STPs and the development of an interceptor network to divert sewage. Additionally, proposals include designating a utility zone for pipeline network installation and implementing measures to maintain a flow of cleaner water, such as pumping water from the Godavari River into nearby reservoirs and releasing it into the Musi River. These initiatives mark significant steps toward revitalizing the Musi River and enhancing its ecological and environmental condition.