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INDIA IN VANCOUVER-WEEKLY
NEWSLETTER
Issue No-32- 10/11/2023
Consulate Weekly Newsletter
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PM Modi attends Rashtriya Ekta Diwas Parade 2023 in Kevadia, Gujarat
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Consul General Manish attended the Diwali event organized by Victoria Hindu Cultural Parishad and Cultural Center. He was welcomed by the President of the Parishad Mr. Surinder Sharma and other board members. The event had cultural performances from various parts of India and saw enthusiastic participation from the diaspora.
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Consul General Manish visited the Arya Samaj Educational and Cultural Society of BC and met with Swami Sampoornanand and also interacted with the Board members.
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Consul General Manish visited Khalsa Diwan Society Gurudwara in Victoria & was warmly welcomed by the board members. CG conveyed his greetings on the upcoming joyous Bandi Chhod Diwas & Diwali festival and praised their outstanding work for the community.
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Consul General Manish visited Calgary to attend briefings organized by the Government of Alberta. On the sidelines, Consul General met the Honourable Salma Lakhani, Lieutenant Governor, Alberta. He also met with the Honourable Matt Jones - Minister of Jobs, Economy and Trade; Honourable Rajan Sawhney - Minister of Advanced Education; Honourable Muhammad Yaseen - Minister of Immigration and Multiculturalism, and Honourable Mr. Shane Getson, Member of Legislative Assembly and Chief Whip of the Government of Alberta. He also interacted with Honourable Paul Wynnyk, Deputy Minister, Intergovernmental Relations, and other officers.
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INCREDIBLE INDIA-TELANGANA
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Telangana
Telangana, the 29th and youngest state of India, formally recognized on June 2, 2014 is a treasure trove of tourist destinations. Telangana is known for its hospitality and multicultural and pluralistic society. Hyderabad, the capital city of this state is the fifth largest city in India and home to some of India's best educational institutions, public sector and defence companies and a thriving global services sector and film industry and known for its world famous Hyderabadi Biryani. Constituting a major part of Deccan plateau, Telangana has a pleasing climate, with abundant natural and water resources. The state is the gateway to Krishna and Godavari Rivers in South India and is considered the seed capital of India. One of the wealthy economies in India, Telangana is here to take its rightful place in the country, as a highly developed state and society with a proud history and grand heritage.
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KNOW YOUR MILLETS- KODO MILLET
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Kodo Millet
Kodo Millet, also known as Kodon Millet, is a digestible variant with higher amounts of lecithin amino acid. It has a significant effect on strengthening the nervous system. Kodo is a fantastic source of B vitamins, especially niacin, B6, and folic acid, among other vitamins and minerals. It contains calcium, iron, potassium, magnesium, and zinc minerals. Being a gluten-free millet, it is great for gluten-intolerant individuals. It can relieve cardiovascular disorders such as high blood pressure and cholesterol levels when eaten regularly by postmenopausal women.
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India emerges as global leader in the number of IPOs in 2023
India has topped the world in terms of the number of initial public offerings (IPO) this year as the country stands out as one bright spot compared to other larger economies experiencing lacklustre growth. The rush to raise funds this year is continuing even though the broader market has fallen in the wake of global uncertainty and the Israel-Hamas conflict. For the full calendar year to date, there have been a total of nearly 170 public offers by Indian firms. “India has emerged as the global leader in the number of IPOs year-to-date in 2023," EY said in a report.
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India regains the second spot on MSCI EM index
Taiwan's lead over India as the second most-weighted emerging market was rather short-lived after Mumbai indices, rattled momentarily by the $150-billion wealth erosion in Adani Group shares late January, leveraged the country's economic breadth and depth to overhaul the semiconductor-heavy East Asian bourse. India now has a weighting of 15.5% on the MSCI Emerging Market Index (EM), compared with 15.11% for Taiwan. India's weighting has climbed from 12.97% end-January, when Taiwan's weighting was 14.42%.
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How India’s rescue and relief ops got its global wings
A serving Air Vice Marshal writes about how IAF dramatically increased its capacity to help citizens and others in global hotspots. Delivering aid to Gaza is the latest example.
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India's steel capacity crosses 161 MT mark, sector poised for growth: Govt
India's steel capacity has crossed 161 million tonnes and the industry is poised for continued growth, Steel Secretary Nagendra Nath Sinha said on Tuesday.
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PM Vouches for Made in India Products Ahead of Diwali, Urges Indians To Share 'Vocal For Local' Selfies
As Diwali celebrations begin, Prime Minister Narendra Modi on Monday vouched for local and handmade products over imported goods and urged Indians to prioritise shopping from their local markets on the occasion. The prime minister also shared a video promoting the use of local products on his X profile and asserted that the “vocal for local” movement is gaining momentum across the country.
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India's Surging E-Commerce, Govt Push And Rising pool of Entrepreneurs Bloster High Investment Prospects for Nation's Startup Ecosystem
Just a few years back, India was primarily known for its thriving IT and outsourcing services industry. However, today, the nation has earned a reputation as a global startup hub. India's startup ecosystem has witnessed exponential growth which not only attention of investors worldwide but has also sparked a revolution in entrepreneurship.
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India's growth seems secure despite global headwinds and uncertainties
India is recording relatively rapid growth in the midst of global economic turmoil. This is not to deny that the country faces its own set of challenges. One big challenge is that post-pandemic consumption growth has not been broad-based. While the urban area has been showing strong pent-up demand, specifically coming from higher-income households, rural demand remains relatively muted.
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UBS upgrades India's FY24 real GDP growth estimate marginally to 6.3%
Foreign brokerage UBS on Wednesday upgraded its FY24 real GDP growth estimate marginally to 6.3 per cent. The brokerage's chief India economist Tanvee Gupta Jain said domestic economic activities are fairing better than expected, but added that managing the macro risks and next year's General Elections are the key factors to watch out for.
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Luxury housing sales in top 7 Indian cities rise by 97% YoY in Jan-Sep’23
The luxury housing segment in India, comprising units priced at Rs 4 crore and above, maintained strong sales momentum in the Jan-Sep’23 period, registering a 97% Y-o-Y increase, according to CBRE’s ‘India Market Monitor Q3 2023’ report.Total sales of luxury units across the top 7 cities in India stood at approximately 9,200 units during this period compared to 4,700 units during the same period last year.
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UPI revolutionising digital space; linkage with RuPay game-changer: RBI report
The introduction of the Unified Payment Interface (UPI) has revolutionised the digital space in India and its linkage with RuPay credit cards for payment purposes can be a "game-changing move" in digital payments, says the “India Finance Report 2023” by the Centre for Advanced Financial Research and Learning (CAFRAL).
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India is taking millions of its people out of extreme poverty now — this will help to reduce global economic inequality: Justin Wolfers
Justin Wolfers is professor of public policy and economics at the University of Michigan. Speaking to Srijana Mitra Das, he discusses forms of inequality — and their redressal. I would outline my work as arbitrage be -tween several fields. Hence, I work at the intersection between macroeconomics and labour economics. I’m also particularly interested in the intersections of economics with other fields — I study family, marriage and divorce, for instance, which have historically been researched in sociology but we can bring economics to this. I’ve studied elections, usually analysed in political science, but economics can play a role here.
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Smartphone manufacturing: How 'Make in India' is marking a difference
As India is looking to become the third largest economy in the world in the coming years, cutting-edge technologies across 5G/6G, satellite communication (SatCom) and semiconductors will contribute towards this growth. These three technologies are collectively expected to add approximately $240 billion to the nation’s economy in the next five years and are estimated to contribute an additional around 1.6 per cent to our GDP by FY28. These findings were released by KPMG in India in association with the India Mobile Congress (IMC) 2023.
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