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INDIA IN VANCOUVER-WEEKLY
NEWSLETTER
Issue No-38- 22/12/2023
Consulate Weekly Newsletter
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Consulate in association with YLSBC & Tri Cities Chamber of Commerce organized a business outreach event in Coquitlam to promote India as an Investment destination. The event was attended by Mayor of the Coquitlam Richard Stewart, members of tri-cities chamber, government representatives, local businesses and students. Consul General Manish gave a detailed presentation on state of Indian economy, current business & policy reforms, ease of doing business, developments taking places in Infrastructure, Fin-tech & startup ecosystem etc. Sectoral opportunities in Agriculture, Food Processing, Pharmaceuticals & Healthcare, Construction, IT-BPM etc. were also presented. He also dwelt on India-Canada and India-BC economic relationship. He invited guests to attend forthcoming ‘Vibrant Gujarat Summit 2024’ to be held in Gandhinagar on 10-12 January 2024. An exhibition on various kinds of Millets & its health benefits and One District One Product (ODOP) was also mounted during the event. CG requested those present to include millets in their daily diet and presented opportunities to invest in Millet startup ecosystem. He also requested Indian diaspora to adopt their districts and promote it products.
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Consulate General of India organized its annual media interaction on 20 December 2023. Over 40 representatives from mainstream ethnic media representing radio, television, and print, were in attendance.
Consul General Manish welcomed the guests and provided a detailed overview of the Consulate's various initiatives aimed at intensifying the relationship between India and Western Canada, including in areas of economy, technology, trade, tourism, education and culture. Consul General also elaborated on the policies and accomplishments of the Government of India over the past year, highlighting the robust nature of the Indian economy.
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INCREDIBLE INDIA-CHANDIGARH
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Chandigarh
Large sweeping avenues, the serene Sukhna Lake, sprawling parks, spectacular contemporary buildings and the famous Rock Garden, make India's most well-planned city an urban paradise. The capital of the neighbouring states of Punjab and Haryana, Chandigarh is an urban oasis with charming tree-lined boulevards and beautifully landscaped gardens. Envisioned and designed in the 1950s by the prominent French-Swiss architect, Le Corbusier, the major buildings of the city are marvels of modern design. The city is neatly divided into sectors, each a self-contained pocket with local markets, schools, parks and other infrastructural facilities. Merely 70 years old, Chandigarh is a young, prosperous and vibrant city. It is extremely pedestrian-friendly and most visitors to the city begin by exploring Sector 17 for its shops and restaurants and Sector 22 for its hotels. What makes Chandigarh a great travel destination is its geographical location at the foothills of the majestic Shivalik range and the Himalayas, and its pleasant climate.
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KNOW YOUR MILLETS- SORGHUM MILLET
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Sorghum Millet
Sorghum, also known as jowar, is a cereal grain that is grown in India. Sorghum is a crop from the Gramineae family that is high in carbohydrates and has the scientific name Sorghum bicolor L. It is a drought-tolerant crop that can be grown in areas with little or no irrigation. Sorghum is a nutritious grain that is high in fiber and protein. It is also a good source of vitamins and minerals, including iron and magnesium. Sorghum is typically used to make flour, which is used to make bread, porridge, and other food items. It is one of the staple crops for millions of semi-arid residents, it's also known as the "KING OF MILLETS".
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India's economic growth surges, defying global challenges: Asian Development Outlook
In a display of resilience and economic fortitude, India is charting a path of accelerated growth, outpacing global uncertainties. According to Asian Development Outlook, recent data reveals that India's GDP expanded at a robust rate of 7.1 percent in the first three quarters of the calendar year, propelled by strong industrial production and substantial investment.
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India's 8% growth dream within reach through fiscal restraint, says economist Barry Eichengreen
Renowned economist Barry Eichengreen on Monday (December 18) said he is confident that India can achieve an 8% growth rate over the next decade if the government practices fiscal restraint and private savings rates increase, providing more funds for investment in education, healthcare, infrastructure, and industry.
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India's economic triumph: A chronicle of the fastest-growing major economy
In a resounding testament to its resilience, India has emerged as the fastest -growing major economy globally, surpassing the UK to claim the fifth position after a robust recovery from the shockwaves of the COVID-19 pandemic.
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IMF praises India's near-term fiscal policy, RBI's proactive monetary policy actions
The International Monetary Fund (IMF) has praised Indian authorities, adding that the economy's strong performance will likely continue going ahead and that it has the potential to "grow faster and more sustainably if a comprehensive structural reform agenda is implemented".
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New era in space exploration: India's moon landing & solar venture
It started from T-Hub, short for “technology hub”, an incubator based in Raidurg in Hyderabad, Telangana. Two former scientists of the Indian Space Research Organisation (Isro), Pawan Kumar Chandana and Naga Bharath Daka, came together to launch a private aerospace company from the incubator.
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India's space odyssey: space start-ups soar from 1 to 189 with a $124.7 million boost
The space start-up landscape in India has undergone a remarkable transformation, growing from a solitary entity in 2014 to 189 in 2023, as revealed by Union Minister Dr. Jitendra Singh. In a written response presented in the Rajya Sabha on Thursday, Singh said that investment in Indian start-ups has touched $124.7 million.
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FPIs flood Indian equity markets, infuse Rs 1.5 trn despite uncertainty
In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 trillion in 2023, fuelled by optimism over the country's resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue in 2024.
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India plays an important role in our R&D work: FICO CPTO Bill Waid
Fair Isaac, the US-based data and analytics company better known as FICO, provides its technology to some of the largest global companies to drive digital transformation. A significant portion of this development work, and research and development (R&D) is carried out in India.
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India's exports resilient to global demand and exchange rates: CEA
India’s exports are becoming less vulnerable to changes in world demand and exchange rates, according to a publication titled ‘Re-examining Narratives: A Collection of Essays’, penned by Chief Economic Advisor (CEA) V Anantha Nageswaran and his team.
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India’s Digital Revolution: From Financial Inclusion to Global Leadership in DPI
India is emerging as a leader in establishing a robust digital public infrastructure (DPI) ecosystem not just domestically, but globally. It has already earned a reputation for being a game-changer in India’s goal of achieving financial inclusion of citizens.
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GenAI can add $1.2-1.5 trillion to India's GDP by 2030: EY report
Generative AI (GenAI) has the potential to add a cumulative $1.2 -1.5 trillion to India’s GDP over the next seven years, according to a report by EY. The report titled ‘AIdea of India: Generative AI’s potential to accelerate India’s digital transformation’ says that in 2029-30 alone, GenAI has the potential to contribute an additional $359-438 billion to India’s GDP. The report said that around 69 per cent of the overall impact of GenAI on India's GDP is expected to be derived from sectors such as business services (including IT, legal, consulting, outsourcing, rental of machinery and equipment, and others), financial services, education, retail, and healthcare.
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‘India working on global framework for AI’: PM Modi talks deepfake, technology import and Chandrayaan
During the Smart India Hackathon's grand finale, Prime Minister Narendra Modi urged for a paradigm shift in India's technological prowess on Tuesday. Emphasising the necessity of self-reliance, he articulated that India should strive to eliminate its dependency on imported technology.
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ISRO bags Icelandic prize for Chandryaan-3 fglkljklghjkljljkjllkjlk
The Indian Space Research Organisation (ISRO) has ben awarded the 2023 Leif Erikson Lunar Prize by the Exploration Museum in Iceland's Husavik for its successful Chandrayaan-3 mission. jhkgjklgjkljlkjhlkjhkjgk
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India emerges as a global hub for RISC-V design, says Sequoia-backed fabless startup
India is one of the fastest-growing countries in the technology segment. The recent push to encourage the semiconductor industry is adding impetus to this, with OSAT businesses being set up.
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IMF Hails Indian Economy as "Star Performer" kghkjghkjgfhjkjhg
The IMF's annual report has praised India as the "star performer" among major economies. The Fund highlighted India's large population and public infrastructure spending as key reasons for the performance.
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India’s post Covid resilience highest among top 10 economies, expected to surpass $4 trillion by 2024-25, says PHD Chamber
India has emerged as the most resilient economy among the top ten leading economies in the post pandemic years of 2022, 2023, according to an analysis conducted by the PHD Research Bureau, PHD Chamber of Commerce and Industry. The research report “Geopolitical Spillovers and Resilience of the Indian Economy” by PHDCCI was based on five key economic indicators, GDP growth, export growth, total investment, gross national savings, and debt to GDP ratio. As these indicators are vulnerable and have many domestic and global headwinds, the industry body decided and chose these indicators to check the resilience of the leading economies, said Sanjeev Agrawal, President , PHD Chamber of Commerce and Industry.
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Indian economy charting a new growth path
In 2004, Vijay Kelkar, former adviser to then-finance minister Jaswant Singh, presented a paper at the Australian National University with an interesting title, 'India: On the Growth Turnpike'. Kelkar claimed that 'India was on the threshold of a golden age of growth'. His thesis was simple. Beginning in 1980, the gradual rollout of economic reforms enabling greater play of market forces, rapid growth in international trade and the country's ability to withstand.
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US has deepened partnership with India; elevated cooperation through Quad: Blinken
US State Secretary Antony Blinken has said the US has deepened its partnership with India. He said the country has elevated cooperation with India, Japan and Australia through the Quad. "We've deepened our partnership with India. We've elevated cooperation through the Quad with India, Japan, Australia," the US State Secretary said in his remarks at an end-of-year press availability on Wednesday (US local time).
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Sultan of Oman visits India: A big boost to bilateral partnership
The Head of State of the Sultanate of Oman, Sultan Haitham bin Tarik paid a three-day State visit to India from 15 December, 2023. This was the first visit by Sultan Haitham to India after he ascended the throne on 11 January, 2020. He succeeded his cousin Sultan Qaboos bin Said who had ruled the country for nearly 50 years after coming to the throne by engineering a coup and deposing his father, the then Sultan Said bin Taimur, with British help in 1970. Sultan Qaboos played an exceptional role in cementing and propelling the multifaceted ties with India. The visit by Sultan Haitham sought to take that relationship forward to the next level.
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Women entrepreneurs redefining success
Srinagar: In the valley of Kashmir, where violence often overshadows untold stories, resilient women entrepreneurs are carving their path to success. These women are rewriting the narrative by blending tradition with innovation in the male dominated society. Aisha, a graduate from University of Kashmir, decided to transform her passion into a thriving business. Soon after .completing studies, Aisha understood that getting a decent job in both government and private sector in Kashmir was a Herculean task.
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