Opening New Horizons: Indian Firms Set to Go Global!

Saturday, July 29th, 2023

Good Morning ☕

Hold on to your stocks and get ready to embark on an exhilarating global ride with our Indian companies! The Finance and Fabulous Minister, Nirmala Sitharaman, has waved her wand of financial wizardry and unleashed a magical decree: Indian companies are gearing up to take the world by storm by directly listing their shares overseas!

Important News of the Day

1. Indian cos will soon be allowed to directly list their shares overseas: FM

Indian companies will soon be allowed to directly list their shares overseas, according to Finance Minister Nirmala Sitharaman. This decision will enable domestic companies to raise funds from foreign sources by listing their shares on various exchanges abroad. Last year, the Indian government announced that Indian companies would be allowed to list shares directly on foreign stock exchanges. This move is aimed at making the overseas listing process more accessible and streamlined for Indian companies and startups. It is expected to provide new opportunities for Indian businesses to attract international investment and expand their global presence.

2. India urges EU to allow shrimp imports, reduce inspection sampling frequency

India has requested the European Union (EU) to reduce the sampling frequency for inspection of Indian farmed shrimps at the border inspection post and allow the export of farmed shrimps by newly listed firms. The EU has increased the rate of testing for antibiotic residue in Indian shrimp shipments, according to a 2020 study of the sector for industry journal Reviews in Aquaculture. The move comes after the EU tightened the inspection of marine products, especially cultured shrimp, from India, which has quickly grown into one of the world's largest producers of the shellfish.

3. India's GDP to reach $6 trillion by 2030: Standard Chartered Research

According to Standard Chartered's India research team, India is projected to become a $6 trillion economy by 2030. This is a bullish forecast and indicates significant economic growth for the country. In 2019, Bloomberg projected that India's GDP would grow from $2.7 trillion in 2019 to $5 trillion by 2025 and $8.4 trillion by 2030. While this falls short of the $10 trillion target mentioned by Mukesh Ambani, chairman of Reliance Industries, it still represents substantial progress. India's economy is expected to transition from a lower-middle-income to an upper-middle-income economy, with per-capita income rising from $2,000 to around $5,700 by 2030. These projections highlight the potential for India's economic growth and its transition into a major global player.

4. LS passes MMDR amendment Bill allowing auction of lithium, others to pvt sector

The Lok Sabha has passed the Mines and Minerals (Development and Regulation) (MMDR) Amendment Bill, which allows private entities to participate in the auction of minerals such as lithium, beryllium, titanium, niobium, tantalum, and zirconium. The amendment also empowers the Central government to auction these minerals while the royalty will go to states. The Cabinet had approved the amendment in the MMDR Act, lifting the ban on mining six minerals, including lithium. The bill proposes to omit six minerals and their ores from the list of atomic minerals under the Atomic Energy Act, 1962.

5. Railways on track to meet target of 100% electrification by Dec

The Indian Railways is on track to achieve its target of 100% electrification of all its broad gauge routes by December 2023. As of March 2023, the Railways had achieved around 85% progress towards this goal. Recently, the Railways electrified all the routes in Uttar Pradesh, making it the latest state to have its entire railway lines electrified. The Railways is also working towards becoming a "Net Zero Carbon Emission" railway system in the next seven years. The Railways plans to shift to renewables as part of India's global commitment to renewable energy.

Entrepreneur of the Day👨‍💼

Green Cure Wellness is a pioneering company that fuses the wisdom of Indian Ayurveda with the expertise of German technology, crafting revolutionary healthcare and personal care products. Founded by Sanchit Garg and his father, Mr. Suresh Garg, the company aimed to introduce world-class herbal products to the Indian market. Inspired by a serendipitous encounter with a herbal syrup during a trip to Germany, Mr. Suresh Garg envisioned bringing such beneficial products to India, especially for lung care. Together, they embarked on a 3-year research journey to blend German engineering with Ayurvedic principles, and today, Green Cure Wellness stands as the world's first company to achieve this fusion.

The path to success wasn't without its challenges. To gain consumer trust in their unique approach, Green Cure Wellness invested significantly in free sampling, allowing the products to speak for themselves. They also leveraged the power of digital marketing and e-commerce platforms, with Facebook proving particularly influential in spreading the word. Their breakthrough product, 'BronchiCure,' India's first lung care syrup, went viral, further establishing their credibility. Additionally, the company's dedication to quality and adherence to European norms earned them certifications from reputable organizations like Safe Cosmetics Australia and Namo Gange.

Green Cure Wellness has not only made a significant impact on the market but also attracted attention from investors. In 2020, they secured funding from Venture Catalysts, led by Gunvanth Vaid, a prominent figure in the investment world. Their journey is a testament to the transformative potential of blending ancient Ayurvedic knowledge with cutting-edge technology, opening new horizons in the realm of herbal healthcare products.

Breaking News: The Scoop You Can't Miss!

1. India committed towards biodiversity conservation, climate action: Modi at G20 meet

Indian Prime Minister Narendra Modi reaffirmed India's commitment to biodiversity conservation and climate action at the G20 Environment and Climate Ministers' Meet in Chennai. He highlighted the consistent actions taken on biodiversity conservation and protection, stating that India is a mega-diverse country. PM Modi also emphasized the importance of climate finance and technology transfer to developing countries. He urged the G20 nations to take collective action to address climate change and biodiversity loss. India has consistently been at the forefront of taking action on biodiversity conservation and protection.

2. Modi woos global semiconductor players with talent, tax incentives pitch

Indian Prime Minister Narendra Modi said that he believes the fourth industrial revolution being witnessed now is driven by India's aspirations. He made the statement at the Semicon India Conference 2023 in Gujarat. The PM also announced that India will give 50% financial assistance to firms for setting up semiconductor manufacturing facilities in the country. In another event, he highlighted India's consistent actions taken on biodiversity conservation and climate action at the G20 Environment and Climate Ministers Meet in Chennai.

3. SEBI aims to safeguard retail investors through curbs on derivatives trading

The Securities and Exchange Board of India (SEBI) is reportedly discussing measures to track and control "disproportionate trading" to safeguard retail investors by linking the value of derivative trades to the underlying stocks. The regulator is also considering reducing the position limits for retail investors in the derivatives segment. The move comes amid concerns over the risks associated with derivatives trading for retail investors. The SEBI is aiming to protect retail investors from potential losses and to promote market stability.

4. AMD to invest $400 million in India over next five years

Advanced Micro Devices (AMD) has announced that it will invest approximately $400 million in India over the next five years. This investment will include the construction of a new AMD campus in Bengaluru, Karnataka, which will serve as the company's largest design center. The new 500,000-square-foot Bengaluru campus will increase AMD's India footprint to 10 locations across cities such as Bengaluru, Delhi, and Gurgaon. AMD already employs over 6,500 people in India.

5. Vedanta to invest $5bn in first phase for semicon fab, comfortable debt position

Vedanta, a natural resources conglomerate, plans to invest $5 billion in the first phase of its semiconductor fab project. The company is comfortable with its current debt position, which stands at $13 billion, according to Anil Agarwal, the billionaire chairman of Vedanta. The investment comes as other companies, such as AMD, also announce major investments in India's semiconductor industry. Taiwanese manufacturing giant Foxconn recently withdrew from a $19.5 billion semiconductor joint venture with Vedanta, however, indicating potential challenges ahead for the company.

World News 🌎

• India-Japan forge ties to strengthen semiconductor manufacturing, supply chains

• South Korea fines ChatGPT, Meta

• China's bid to enlarge BRICS membership hits roadblocks

• Singapore hangs first woman for drug trafficking in 19 years

• ‘Trump on steroids’: Indian-American enters US presidential race

• London Mayor Sadiq Khan clashes with PM Rishi Sunak over housing crisis

• Pakistan: ‘Driver delivered me box, cops harassed his family to…', Imran Khan

• Donald Trump asked staffer to delete camera footage in Florida document case

• Elon Musk's Twitter rebranding plans run into Indonesia's anti-pornography laws

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