INDIA IN VANCOUVER-WEEKLY
NEWSLETTER
Issue No-15-  14/07/2023
Consulate Weekly Newsletter

Chandrayaan-3 is a follow-on mission to Chandrayaan-2 to demonstrate end-to-end capability in safe landing and roving on the lunar surface. It consists of Lander and Rover configuration. It will be launched by LVM3 from SDSC SHAR, Sriharikota. The propulsion module will carry the lander and rover configuration till 100 km lunar orbit. The propulsion module has Spectro-polarimetry of Habitable Planet Earth (SHAPE) payload to study the spectral and Polari metric measurements of Earth from the lunar orbit.

                            CONSULATE NEWS

Consul General  visited BE Power Equipment in Abbotsford and interacted with Mr. Nick Braber, the owner of the company. BE Power Equipment is in the business of manufacturing Pressure Washers and other power equipment for farming, irrigation, etc. BE has a manufacturing unit in the Indian city of Ludhiana, and setting up a new plant in Noida to export to overseas markets.

 Consul General  was honoured to meet the Honourable Danielle Smith, Premier of Alberta, during a round table organized on the sidelines of LNG Conference in Vancouver. Consul General shared India's perspective on energy security & requirement of LNG as a source for energy & possibility of cooperation.

Consul General  had a virtual meeting with Hon. Matt Jones, Minister of Job, Economy and Trade, Government of Alberta, and his officials during his visit to Edmonton. They had a wide ranging discussions and shared ideas to enhance India-Alberta engagement in areas of trade, investment, IT & innovation, energy, agriculture, education & tourism.

Consul General  had a meeting with Mayor of Edmonton Mr. Amarjeet Sohi on 11 July in Edmonton. They had a wide range of discussions on ways to intensify engagement between India and the City of Edmonton in various fields including economic, culture & diaspora issues.

Consul General during his visit to Edmonton had discussions with diaspora members & briefed them on the policy & programmes of the Consulate and developments in New India & shared ideas to promote trade, culture & educational cooperation with the City of Edmonton.

Consul General  attended the Annual Santom Fest 2023 organized by the St. Alphonsa Syro-Malabar Catholic Church, BC in Delta and interacted with Indian diaspora. The Fest was a day long event and attended by more than 500 diaspora people. It included dance & music performances and martial art demonstration by Indian diaspora members. Traditional Indian food items were served on the occasion. In his address, CG congratulated the board members of the St. Alphonsa Syro-Malabar Catholic Church for successfully organizing the event and informed the gathering about Consulate activities and invited every one to be part of forthcoming Namaste Canada 2023 event to be organized by the Consulate. CG also inaugurated the prime attraction of the Fest i.e. The Tug of War competition where 7 teams participated.

                             INCREDIBLE INDIA- MEGHALAYA

Meghalaya, meaning the “abode of clouds” is a paradise for nature lovers. A hill station that is home to a beautiful, mesmerizing sky in a true sense has captivated the minds of tourists all across the globe. It is perfectly nestled in the northeast of India in the Himalayas.It is bordered to Assam to the north and east and meets Bangladesh to its south and east side. The state is filled with huge hills, valleys, numerous lakes, captivating waterfalls, pitch dark caves, and sacred forests.

                           KNOW YOUR MILLETS

Finger Millet

Another significant staple grain in Eastern Africa and Asia is finger millet (Eleusine coracana), often known as ragi in India (India, Nepal. At the top of the stem, the plant has many spikes or "fingers." The grains are tiny (I-2 mm in diameter). Finger millet grains are rich in minerals, dietary fiber, polyphenols, and proteins. Finger millet, which is rich in calcium plays an important role in growing children, pregnant women as Well as people suffering from obesity, diabetes and malnutrition. It contains high amount of potassium for the proper functioning of the kidneys and brains and allows the brain and muscles to work smoothly.

                     NEWS FLASH

                     NEWS SEGMENT

Chandrayaan 3: How India Is Fuelling Its Space Economy As More Private Players Enter The Sector

With the imminent launch of India’s third lunar mission, Chandrayaan 3, on July 14, all eyes are set on the Satish Dhawan Space Centre located in Sriharikota. Through this new mission, Indian Space Research Organisation (ISRO) is aiming to land a rover on the surface of Moon which it failed to do in its previous attempt in 2019. Chandrayaan 2 consisted of an orbiter, lander and a rover. The mission had failed in the final stage when India’s space organisation lost contact with the lander and rover.However, learning from its previous mistake, ISRO is all set to attempt the landing again in the Chandrayaan 3 mission.

French Prez Emmanuel Macron to host PM Modi at Louvre for Bastille Day dinner

Indian Prime Minister Narendra Modi will attend the Bastille Day celebration in France as a guest of honor. He will join President Emmanuel Macron in a private dinner before visiting Indian artists who exhibited their works in the Namaste France festival. Additionally, he will attend a business leader forum and the traditional Bastille Day parade, which will feature a sizable Indian contingent.

'India significantly important': Saint Gobain CEO ahead of PM Modi's visit to France for Bastille Day

Prime Minister Narendra Modi is scheduled to visit France on July 13 and 14 after being invited as the Guest of Honour at the Bastille Day Parade to celebrate France's National Day. The invitation is even more significant by the fact that this year also commemorates the 25th anniversary of India-France strategic relations.

India rises up the ranks in global market-capitalisation race

India’s stock market has outperformed most large markets over the last three years. This has raised its share in global market capitalization, breaking into the top five in March 2022 by overtaking the UK. However, the ranking dropped after allegations of corporate malfeasance at the Adani Group in January 2023.

India can be fund capital of the world
 

The Indian startup ecosystem has grown by leaps and bounds with the number of DPIIT registered startups at 100,000 compared to 400 or 500 around seven years back, says Rajat Tandon, President of Indian Venture and Alternate Capital Association (IVCA). He, however, added that we must make certain changes for India to grow in this space further.

A new era for India’s financial landscape

On July 3, 2023, the Indian securities market made a significant leap in the global capital market ecosystem. The popular Singapore Stock Exchange (SGX) index, SGX Nifty, now known as GIFT Nifty, has been launched on the NSE International Exchange (NSE IX) at the International Financial Services Centre in GIFT City. This launch signifies a complete shift of Nifty derivatives liquidity from SGX to NSE IX.

"Steady and resilient through darkest storms"

M Modi has embarked on a visit to France at the invitation of President Emmanuel Macron. His two-day visit, on July 13 and 14, is special as this year marks the 25th anniversary of the strategic partnership between India and France.

Digital transformation: Defining the growth of Indian MSMEs

MSMEs are a significant contributor to India’s economy, not only in terms of GDP but also in terms of generating employment and socio-economic growth. MSMEs will lose out in a big way if they are not able to meet the fast-changing pace of technology and digitization in our day and age, especially when pegged against the larger, more equipped firms leveraging the digital space. ne such example is the era of Covid-19, where a lot of MSMEs were forced to shut down. Parallelly however, there were several of them, including new ones which came to the forefront and even flourished, by optimizing the benefits of digital media and e-commerce platforms.

Indian economy’s growth sustained by conducive domestic policy, healthy macro indicators 

The CII Business Confidence Index (CII- BCI) improved to a reading of 66.1 in Q1 (Apr-Jun FY24) as compared to 64.0 in the previous quarter showing a positive momentum in indicators such as GST collection and air & rail passenger traffic. 63 per cent of over 180 firms surveyed in the Business Outlook Survey (63 per cent) expect India's GDP growth to be 6-7 per cent for FY24.

The UPI Effect: How UPI Is Reshaping India’s Payment Industry

UPI has experienced remarkable growth, surpassing 9 Bn monthly transactions in May 2023, with peer-to-merchant payments leading the way UPI's success can be attributed to its instant payment capabilities, seamless user experience, and ability to cater to a variety of use-cases The transformative impact of UPI has reshaped the digital payments landscape and positioned India as a leader in this domain

India’s booming warehousing sector: A thriving investment opportunity

The warehousing sector has gained significant attention from institutional real estate investors as it emerges as one of the most sought-after asset classes, reshaping the real estate landscape. One of the key drivers of investment in the industrial real estate and warehousing sector has been the rapid growth of e-commerce and the associated need for last-mile delivery facilities. With the rise of online shopping, companies require strategically located warehousing facilities to store and distribute products to customers in a timely and cost-effectively.

India Likely To Add 45 GW Of New Renewable Capacities By 2025

A latest report by CareEdge ratings claimed that India is likely to add 45 Gigawatt (GW) of new  renewable energy capacities in the next two fiscals. The rating agency said the estimates were based on the healthy project pipeline and a strong bidding roadmap laid by the government.

India will be a $4 trillion economy in 2024-25

The size of the Indian Economy will cross 4 trillion in 2024 -25 and the per capita nominal GDP will also cross $2800, said an analysis conducted by the industry body, PHD Chamber of Commerce and Industry.

Strengthening relations with Tanzania is India’s priority

External Affairs Minister S Jaishankar on Saturday reaffirmed India’s commitment to strengthen relations with Tanzania as he held ”comprehensive and productive” talks with his counterpart here to create the pathway to boost bilateral ties in various sectors, including trade.Jaishankar met Tanzania’s Minister of Foreign Affairs and East African Cooperation Dr. Stergomena Tax at the 10th India-Tanzania Joint Commission Meeting.

India rises in digital and sustainable trade facilitation rankings, scores 100% on transparency

India’s score has jumped to 93.55% in 2023 from 90.32% in 2021 in the United Nation’s Economic and Social Commission for Asia Pacific’s (UNESCAP) latest global survey on digital and sustainable trade facilitation.

 India surpasses global averages of plastic recycling rate

Commerce & industry minister Piyush Goyal on Friday highlighted India’s impressive recycling achievements, stating that the country’s plastic recycling average of 13% surpasses the global average of 9% and even outperforms some developed economies with only 4%.

India overtakes China to become No.1 market to invest in

India is among countries like Mexico and Brazil which benefit from increased foreign corporate investment aimed at domestic and international demand.India has overtaken China to become the most attractive emerging market for invest in, a study by Invesco Global Sovereign Asset Management stated.

Indian pharma industry to hit $57 billion by FY25

Domestic pharmaceutical industry will likely hit $57 billion by FY25, along with expansion in operating margins by 100-150 basis points (bps), according to a report by CareEdge Ratings.During FY18 to FY23, the Indian pharmaceutical industry has logged a a compound annual growth rate (CAGR) of 6-8%, primarily driven by an 8% increase in exports and a 6% rise in the domestic market.

Purple Revolution: Aroma Mission Drawing Entrepreneurs

Kashmir is moving towards “purple revolution” as the farmers are slowly switching over from the traditional crops to more rewarding farming of lavender, a purple blossomed aromatic shrub.Lavender is used for oil extraction which is then used in making soaps, cosmetics, perfumes, room fresheners, medicines, etc. The lavender plant does not require a lot of water and has a low risk of pests or other animals that destroy crops. A single lavender plant bears flowers for 15 years, needs low maintenance and can be used from the second year of plantation.

With Over 140 Space Startups, India Has Gained Sound Footing

Union Minister Jitendra Singh has said that with over 140 space startups within a short span of time, India has gained sound footing and the entire world has begun to acknowledge India’s capabilities and her potential in space technology.The Union Minister of State for Science and Technology, MoS PMO, Department of Atomic Energy and Department of Space and MoS Personnel, Public Grievances and Pensions, was addressing the inaugural session of the G20 4th edition of Space Economy Leaders Meeting (SELM) in New Delhi on Thursday.

India could become a magnet for foreign direct investment

'The global environment is more dangerous and chaotic than prior to 2007, but for India, it also offers opportunities', says Wolf.India’s unique position in the world can also allow it to take the lead and mobilise other countries, especially in the Global South, to hunt for solutions to the climate, political, and economic challenges leading to the polycrisis in the world, Martin Wolf, chief economics commentator, Financial Times said at the annual India Policy Forum organised by the National Council of Applied Economic Research (NCAER).

India’s consumption trends reflect rising prosperity

The macros are best positioned with a GDP of $ 6.5 trillion and a retail goods market size of $2 trillion, with the PFCE (Private Final Consumption Expenditure) at $4 trillion, said a Redseer study released on Friday.India’s digital ecosystem is already at the gold standard with over 350 million active digital payment users, over 50 million digital-using merchants, and over 50% digital ad share,’‘ it reported.

India's Solid growth make it as  a highly attractive market says German Ambassador Philipp Ackermann

German Ambassador to India, Philipp Ackermann, has expressed that India's economic growth and its attractiveness as a market have created favourable business prospects for German companies.

India will have 230-240 airports by 2030

"In 2013-14, there were 6 crore passengers; now the airlines are carrying about 14.5 crore passengers (annually). Pre-Covid, our high was about 420,000 passengers a day. In the non-peak season this year, we crossed 460,000 on a single day. This indicates a new demand surge in the sector. Also, the fleet size of aircraft grew from sub-400 in 2014 to about 700 now. So, there has been a 75% increase in the number of aircraft in nine years," Scindia said.

New app can help identify autistic children in India

The app makes use of a series of tests that measure different domains of behaviour associated with atypicalities in autism.Children with neurodevelopment conditions preferred looking at geometric patterns rather than social scenes, were fascinated by predictable, repetitive sensory stimuli, and had more trouble completing precise tasks with their hands.Autism affects about 1 in 100 children globally, according to the World Health organisation.

Jayshree Ullal, Indra Nooyi on Forbes list of 100 richest self-made women in US

Four Indian-origin women, including Jayshree Ullal and Indra Nooyi, have been named by Forbes among America’s 100 richest self-made women, with a combined net worth of a whopping USD 4.06 billion.President and CEO of Arista Networks, a computer networking firm, Jayshree Ullal; co-founder of IT consulting and outsourcing firm Synte Neerja Sethi; co-founder and former chief technology officer (CTO) of cloud company Confluent Neha Narkhede; and PepsiCo former chairperson and CEO Indra Nooyi made it to the Forbes list of America’s Richest Self-Made Women.

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