ISSUE 115 Celebrations @75th Year of India's Independence AUGUST 2022
India at a Glance .............................................................................................................................................. INDIA NEWSLETTER 1
2016.whichtrillionamounting6.28India(NPCI),UPIreportedbilliontransactionstoUS$13.43inJuly2022,isthehighestsince
15 India’s forex reserves since the 1990s have increased 60 times, and the country now has the fourth largestreservesintheworld.
12 According to a survey experiencingconsumersportsJune,aIndiabytheRetailersAssociationof(RAI),retailersreported13%increaseinsalesinwithindustrieslikegoods,jewellery,andelectronicsgrowth.
increased to 349.30 in March 2022, up from 304.06 in September 2021, demonstrating the country's increasing adoption of digital payments. 6 According to government data, India became the second-largest mobile phone producer in the world after increasing output by 126% between FY21-22. 7
3 FDI inflows into India reached a record high of US$ 79.58 billion in FY 2021-22, said Mr. Som CommerceinParkash,MinisterofStatetheMinistryofandIndustry.
4 According to data released by the Ministry of Commerce and Industry, the manufacturing sector attracted foreign direct investments totaling US$ 21.34 billion in 2021-22, anincreaseof76%YoY.
The Reserve Bank of India's (RBI) digital paymentsindex(DPI) of the world, under the vaccine 'Maitri' initiative, said Dr. Suman K Berry, NITI AayogVice-Chairman.
11 Agricultural and processed food exports increased by 14% in the first three months of the current Fiscal Year 2022-23 (AprilJune) to US$ 5,987 million FYcomparedtothesametimein2021-22.
PreventivetobillionexpectedtotouchUS$197by2025,accordingareporton‘StateofHealthinIndia’.
Snapshots of the latest Highlights News ................................................................................................................................................. INDIA NEWSLETTER 2
14 In FY22, completed steel exports from India increased by more than 25% to 13.49 million tonne (MT), FY21,MTwhileimportsdroppedto4.67inFY22from4.75MTina1.68%decrease.
13 According to the Asahi Shimbuns national report on highly cited scientific papers country rankings, India for the first time made in the top 10 countries with 4926 papers standingatthe7thposition.
The government will offer an incentive of US$ 15 million to beneficiaries under the ProductionLinked Incentive (PLI) Scheme for drones and droneparts. 8 According to a Niti Aayog estimate, India's battery storage capacity would reach 600 gigawatt hours(GWh)by2030. 9 India's preventive healthcare market is
10 India has supplied over 235 million total supplies of COVID-19 vaccinesto98countries
1 According to data released by the National Payments Corporation of
2
The installed base of handsets with 5G capabilities has surpassed 50 million in India as it gears up for the 5G era, according to the latest research from Counterpoint's Market Monitorservice.
5
www.digitalindia.gov.in
ImprovedEnvironmentBusiness
The Digital India programme is a flagship programme of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy. Find out more under:
The government of India has prepared a five-pillar strategy to drive India’s growth, which offers multiple avenues of collaboration and investments. Find out more www.makeinindia.comunder: a
InfrastructureDevelopment ManufacturingAccelarateGrowth SustainableSufficiencyEnergy
Focus on DevelopmentSkill
InfrastructureDigital as
Core Utility to Every Citizen andGovernanceServicesonDemand EmpowermentDigital of Citizens Digital India / Make in India ................................................................................................................................................ INDIA NEWSLETTER 3
India to be the fastest growing Asian economy in FY23: Morgan Stanley; Indbiz India is expected to be the fastestgrowing Asian economy in FY23, by contributing 28% of its GDP to Asia’s growth, and 22% to global growth according to analysts from financial services firm Morgan DuringStanley.this period, India’s GDP growth is expected to grow at an average of 7%. The analysts said that the country will witness its best run in over a decade, due to increased demand for India’s commodities leading to better exports, and is also well positioned to drive domestic demandonitsownforAsia.
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biotechenormousregion,Ministrynortheastbiotechsolutions62,791financialthecompaniesInoftalentpoolwillincreasebyafactortwo,to10,000.addition,theministerstated25andentrepreneursfromNorthEastRegionwillreceivesupportofuptoUS$eachtocreatebiotechthroughthespecialignitiongrantcallfortheregion.HeurgedthetogetintouchwiththesayingithadthetalentandpotentialtoadvancetheindustryinIndia.
Mr. Singh claimed that India's bioeconomy experienced steady development from US$ 44 billionin2019 toUS$80.1 billion in 2021. He urged all the stakeholders of the biotech sector, particularly the industries, startup ecosystem, investors, scientists, scholars, entrepreneurs, and enablers like DBT and BIRAC to collectively work to achieve the Heambitioustarget.alsoemphasised that, as a result of the growing enabling ecosystem and the Prime Minister Mr. Narendra Modi's prioritisation, the number of biotech startups in the nation has increased from 50 to over 5,300 in the past 10 years. He expressed his hope that, by 2025, the number of biotech startups resulting from a strong
News Articles ................................................................................................................................................. BureauhydrogenL&Tgoesgreenwithplant:ET Engineering major Larsen & Toubro (L&T) commissioned its first green hydrogen plant at its engineering complex in Hazira, Gujarat on Saturday. The plant will produce 45 Kg of green hydrogen daily, through an alkaline andcompaniestalksspaceprojectsdevelopmentmultipleL&T,complex,Haziraconsumptionbeelectrolysisprocess,whichwillusedforcaptiveinthecompany’smanufacturingthecompanysaid.whichhasforgedpartnershipsforoftechnologyandinthegreenhydrogenoverthepastyear,isinwitharoundadozeninthesteel,cementrefiningsegmentforprovidinggreenhydrogensolutions.Thegreenhydrogenplantisdesignedforanelectrolysercapacityof800kWcomprisingbothalkaline(380kW)andPolymerelectrolytemembrane(420kW)technologiesandwillbepoweredbyarooftopsolarplantof990kWpeakDCcapacityanda500kWhbatteryenergystoragesystem(BESS).L&Talsoplanstoachievewaterneutralityby2035andcarbonneutralityby2040. Manufacturing sector gets $21 bn FDI in FY22, increases by 76% YoY:BusinessStandard The manufacturing sector attracted foreign direct investments worth USD 21.34 billion in 2021-22, an increase implementedTheof76percentyear-on-year.governmenthasseveralreforms under the FDI policy regime andcent(26.26(37.55FDITopUSD"highest"developments,ongoingThe(USDcompared2021-22increasedmanufacturing"FDI(7.31(7.86(15.98TheseduringemergedtheSingaporetrading,services,defence,acrosssectorssuchasinsurance,telecom,financialpharmaceuticals,retailande-commerce.(27.01percent)andUS(17.94percent)haveasthetoptwoinvestors2021-22inIndia.werefollowedbyMauritiuspetcent),theNetherlandspercent)andSwitzerlandpercent).equityinflowsinthesectorshaveby76percentinFY(USD21.34billion)topreviousFY2020-2112.09billion),"itadded.ministrysaidthatdespitethepandemicandglobalIndiareceivedtheannualFDIinflowsof84.83billionin2021-22.fivesatesreceivinghighestin2021-22areKarnatakapercent),Maharashtrapercent),Delhi(13.93per),TamilNadu(5.10percent)Haryana(4.76percent).
India registers sustained growth in bioeconomy, targets US$ 300 billion by 2030: Dr. Jitendra Singh: IBEF India has a target of US$ 300 billion in bioeconomy by 2030 as the number of biotech firms in the nation is rising, according to Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Notably,Singh.
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According to experts, a shift in India’s policy focus toward lifting the productive capacity of the economy will initiate a exports.holdservicetheyrevival.almosteconomicisAslastabovegrowthcommoditiespandemic.economicAnother5.1%.abovepolicypointscumulativelyTherepo-ratesofpatterns,indicateindicatorsIndia’sAccording23-37%prices,dropIndia’sThedynamicenableexpenditurecountry’sfacilitatingcreatingtakenThestory.keychangecountry’sstructuralnation’spolicymakershaveupaseriesofreformsforavirtuouscyclebyanincreaseintheprivatecapitalcycle,whichwillpowerfulproductivityforthecountry.primaryfactordrivingpositiveoverviewisaincommodityandoilwhichwentdownbyinMarchthisyear.totheanalysts,macrostabilityareexpectedtopositivegrowthandtheReserveBankIndia(RBI)neednothikeaggressively.RBIhikedratesby140basisinMay,increasingtheratesto5.4%,whichispre-pandemiclevelsoffactoristhecountry’srecoveryfromtheDemandforwitnessedaandhasbeenremainingpre-Covidlevelsoverthefewmonths.pertheanalysts,thecountrywitnessingitsstrongestperformanceinadecade,afteritsSpeakingaboutexports,saidthatthecountry’sexportsareexpectedtoupbetterthangoods Profit of public sector banks rises 9% to US$ 1.92 billion in June quarter:IBEF Allthe12publicsectorbanks News Articles ................................................................................................................................................ overallresponsibleitsmillion),Rs.toSBIyields.lossesascribedlenders'rangingofNationalBankThreeFY22.1.76profitstate-ownedreleasedAccordinglargeannually,registeringinRs.earnedacombinedprofitofaround15,306crore(US$1.92billion)thefirstquarterofFY23,a9.2%growthdespitepoorshowingbylenderslikeSBIandPNB.toquarterlydatabypublicsectorlenders,banksmadeatotalofRs.14,013crore(US$billion)fromApril-Juneofofthe12lenders—theStateofIndia(SBI),thePunjabBank(PNB),andtheBankIndia—reportedprofitdeclinesfrom7-70%.ThesedecliningprofitshavebeentoMark-to-Market(MTM)broughtonbyrisingbondcontinuedtoprovidethemostthecombinedprofitofbanks,at6,068crore(US$763.64despiteseeingadeclineinearnings.SBIalonewasfornearly40%oftheprofit. US$ 47.38 million 30thFundunderapprovedto102incubatorsStartupIndiaSeedScheme(SISFS)asonJuly2022:PIB As of 30 July, 2022, 102 incubators received approval for US$ 47.38 million under the Startup India Seed Fund Scheme northDPIIT-recognizedtotalunderscheme.ofTripura)Mizoram,Assam,easternTwototalincubatorsreceivedDPIIT-recognized$(SISFS),outofatotalcorpusofUS119.26million.Additionally,378startupshaveapprovalfromdesignatedundertheschemeforaofUS$10.29million.incubatorsfromthenorthstates(ArunachalPradesh,Manipur,Meghalaya,Nagaland,Sikkim,andwereapprovedforatotalUS$631,400.50undertheTheauthorisedincubatorstheschemealsoapprovedaofUS$145.222.11forninestartupsfromeasternstates.
commercialization.productconcept,InternalforbeenassistanceApril,Scheme(SISFS)waslaunchedon12021toprovidefinancialtostartupsthathaveapprovedbytheDepartmentPromotionofIndustryandTrade(DPIIT)forproofofprototypedevelopment,trials,marketentry,and India among leaders in annual renewable energy investment: UN report; BusinessStandard According to a United Nations (UN) report, eighty-four per cent of nearly $1 trillion of global investment in energy transition technologies in 2021 was deployed
takeandlong-termbalanceenergyThewithoutPakistan,thesuchenergyrecoveryaspandemicFindingsEurope.China,investments$2.5investments2017,energy2030investmentstrillion-$6TheGrynspan.Secretary-GeneralAntónioreleasedEnergyResponsethirdTheEurope.inChina,India,Japan,theUSandfindingswerepresentedinthebriefoftheGlobalCrisisGroup(GCRG)onFood,andFinance,whichwasbyUNSecretary-GeneralGuterresandUNCTADRebecareportmentionsthat$4trillioninannualwillberequireduntiltoensureequitablerenewabletransition.However,sinceannualglobalenergy-relatedhavebeen$2trillion-trillion.Moreover,theseareconcentratedinIndia,Japan,theUSandrevealthattheCovid-19furtherwidenedthisgapadvancedeconomiesdeployedpackageswithrenewabletargets.Inothercountries,astheDemocraticRepublicofCongo,Niger,Nigeriaandthenumberofpeopleaccesstoenergyincreased.reportalsomentions,thatpolicymeasuresmusttheneedforurgencyandsustainabledevelopmentcalledupongovernmentstoconstructivemeasures.
The Startup India Seed Fund
Textile Industry IndiamarketofcapacityIndia’sothermakestheancientmaterialsindustryThecomponentknittingpowerothersophisticatedtheatandextremelycenturies.economy,oldestIndia’stextilessectorisoneoftheindustriesintheIndiandatingbacktoseveralTheindustryisvaried,withhand-spunhand-woventextilessectorsoneendofthespectrum,withcapital-intensivemillssectorattheend.Thedecentralisedlooms/hosieryandsectorformthelargestofthetextilessector.closelinkageoftextilestoagriculture(forrawsuchascotton)andthecultureandtraditionsofcountryintermsoftextilesituniqueincomparisontoindustriesinthecountry.textilesindustryhasatoproduceawidevarietyproductssuitablefordifferentsegments,bothwithinandacrosstheworld.
readymadeincreaseUS$(includingIndia’stextileandapparelexportshandicrafts)stoodat44.4billioninFY22,a41%YoY.Exportsofgarmentsincluding Industry Report ................................................................................................................................................. cotton accessories stood at US$ 6.19billioninFY22. Achievements: In April 2022,
Market Size: India’s textiles industry has around 45 million employed workers including 352 million handloom workers across the Thecountry.Indian textile and apparel industry is expected to grow at 10% CAGR from 2019-20 to reach US$ 190 billion by India2025-26.is the world’s largest producer of cotton. Estimated production stood at 3621 million bales during cotton season 2021-22. Domestic consumption for the 2021-22 cotton season is estimated to be at 3380 million Productionbales. of fibre in India reached 2.40 MT in FY21 (till January 2021), while for yarn, the production stood at 4,762 million kgs during same period. Minister of Commerce
and Industry, periodprocuredthanoperations,ofIndiaIncompanyandFY22,turnoverCommissionTheIndiancountriesCanada,confidencefaceAustraliahandloom.opportunitiesUAEAgreementsEconomicPiyushDistributionConsumerAffairs,FoodandPublicandTextiles,Mr.Goyal,saidthatnewCooperationandTradewithAustraliaandthewouldopeninfinitefortextilesandIndiantextileexportstoandtheUAEwouldnowzeroduties,andheexpressedthatsoonEurope,theUKandGCCwouldalsowelcometextileexportsatzeroduty.KhadiandVillageIndustries(KVIC)achievedofUS$14.68billioninagrowthof20.54%YoY,morethananyIndianFMCGmanagedinFY22.CY20,theCottonCorporationofmadearecordprocurement15.10millionbalesunderMSPwhichis290%higherthe384millionbalesduringthecorrespondinglastyear.UndertheSchemeforIntegratedTextileParks(SITP),59textileparksweresanctioned,outofwhich,22havebeencompleted.Employmentincreasedto45 millioninFY19from8.03inFY15. Government Initiatives: In May 2022, Minister of Micro, fromand(MMF),atuniformTheMegaatogovernmentInpark(SIPCOT)CorporationthatMinisterIntextilesdevelopmentmillionearmarkedTheTechnicalCreatingTechnicalInternational(CII),ConfederationTextiles,In(CoEK)CenterNarayanSmallandMediumEnterprises,Mr.Rane,inauguratedtheofExcellenceforKhadiatNIFT,Delhi.March2022,theMinistryofincollaborationwiththeofIndianIndustriesorganizedaday-longConferenceonTextileswiththetheme:theWinningLeapinTextiles.GovernmentofIndiahasacorpusofUS$127.72dedicatedforresearchandofthetechnicalsector.March2022,TamilNaduChiefMr.MKStalinannouncedtheStateIndustriesPromotionofTamilNaduLtdwillsetupamegatextileintheVirudhunagardistrict.March2022,theBiharsubmittedaproposaltheMinistryofTextilestosetupmegahubunderthePMMitraTextilePark.Indiangovernmenthasnotifiedgoodsandservicestaxrate12%onman-madefabricsMMFyarns,MMFfabricsapparel,whichcameintoeffectJanuary1,2022. www.texmin.nic.in INDIA NEWSLETTER . 6
Tripura State Museum (Ujjayanta Palace), Agartala, TripuraUnakoti Archaeological Site, Kailashahar, Tripura Neermahal Water Palace, Melaghar, Sepahijala District, Tripura Sepahijala Wildlife Sanctuary, Tripura
Sepahijala Wildlife Sanctuary: Sepahijala wildlife sanctuary is truly the biodiversity heaven of Tripura with an area of 18.53km. With the increase in population, there was considerable pressure threatening to diminish the forest cover and the related biodiversity of the Sepahijala area. To conserve and propagate the biodiversity of the area, the Sepahijala biocomplex came into existence in 1972.
www.tripuratourism.gov.in
Agartala evokes the age of Tripura Maharajas.
Tripura Incredible India ...............................................................................................................................................
Unakoti, Tripura: It is ‘Shaiba’ (Saivite) pilgrimage and dates back to 7th – 9th centuries if not earlier.The marvellous rock carvings, murals with their primitive beauty, waterfalls are not to be missed. Unakoti means one less than a crore and it is said that these many rock cut carvings are available here. As per Hindu mythology, when Lord Shiva was going to Kashi along with one crore gods and goddesses he made a night halt at this location. He asked all the gods and goddesses to wake up before sun rise and proceed for Kashi.
Dangling between North East India and Bangladesh, the state of Tripura is tucked in mythology, and a history of over 2,500 years and 186 kings. According to the 'Rajmala’, Tripura’s celebrated court chronicle, an ancient king named 'Tripur' ruled over these territorial domains, which explains the current name. Tripura’s peacefully pristine coexistence down the annals of time, constitute its irresistible charm as a tourist destination. The diversity of cultural streams and faiths, ancient temples, an epic history, spellbinding archaeology, handicrafts, traditional arts and music, bountiful biodiversity, and flushing meadows are but a few of the experiences of EndowedTripura. with rich variety of tourist attractions consisting of archaeological monuments, palaces, water bodies, temples, mosques & Buddhist Stupas of religious significance, forest and wild life, traditional craftsmanship, rich cultural diversity, Tripura offers vast potential for growth of Tourism. Tripura State Museum (Ujjayanta Palace), Agartala, Tripura: The gleaming white Ujjayanta Palace located in the capital city of
The name Ujjayanta Palace was given by Nobel Laureate Rabindranath Tagore. It is a unique experience to witness living history and Royal splendour within the walls of Ujjayanta Palace.
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States and Union Territorys (UT) of India ............................................................................................................................................... INDIA DIGITAL MAP INDIA NEWSLETTER 8
INTERESTED IN VISITING A TRADE SHOW IN INDIA? In case your company is interested in visiting a tradeshow/B2B event in India, be it one listed here or another one that came to your attention, get in contact with us via comm1.vienna@mea.gov.in to get more information about possible assistance/subsidies. Trade Fairs/ Webinars ................................................................................................................................................ 16-18 February, 2023 Pragati Maidan, New Delhi WhereMeetsTechnologyFuture.. INDIA NEWSLETTER 9
Indication
For more information www.indianbusinessportal.invisit: India Business Portal .............................................................................................................................. INDIA NEWSLETTER 10
The Indian Business Portal is a B2B marketplace designed by the Federation of Indian Export Organisations (FIEO) and GlobalLinker, a SaaS platform that provides tools to build an online marketplace. Available to the India exporters, the B2B ecommerce platform is intended at building an export ecosystem with startups, SMEs, and other small Thebusinesses.Indian Business Portal also has a business meetings option, which allows exporters to connect with buyers from all around the world, and buyers to contact directly with Indian vendors if they are looking for smaller Theamounts.Geographical (GI) items are the emphasis of the Indian Business Portal. These products are unique to a certain region of the country and serve as a symbol of that region's identity. More than 370 Indian GI categories are promoted on the web.
The Embassy’s library is opened daily from 10 am to 1 pm without appointment. Our collection contains more than 3000 titles in dozens of categories. For appointments outside the opening hours or other inquiries, please contact us at info.vienna@mea.gov.in or call on 015058666 – 44 . Download our latest catalog of books under Library Catalog
www.indianvisaonline.gov.inIndiaPerspectives,theflagship
The Embassy of India is organizing Yoga workshops for various academic and business organisations. The Workshop includes exercises suitable to be performed by anyone in a spaceconstrained environment of own office. A brief session on Yoga Asanas (physical exercises), Pranayam (breathing exercises) and Meditation is conducted. The workshop is of about 75 minutes and the medium of the language is english. For further queries please write at comm1.vienna@mea.gov.in or call + 43 (1) 5058666-31.
magazine of the Ministry of External Affairs. The magazine is printed in 16 languages and goes to 170 countries, disseminating interesting information about India’s rich culture and tradition. For a copy of the magazine, mail us at: poip@mea.gov.in or visit www.indiaperspectives.gov.in
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The Government of India has extended e-Tourist Visa (e-TV) scheme to the citizens of Austria w.e.f. 26th February 2016. This facility is also available to the citizens of Montenegro and the Vatican City. The Indian e-Visa is an electronic travel permit that maKes acquiring a visa to visit India easier. After filling out an online form with the traveler's personal information and passport information, the Indian electronic visa can be received fast. Queries related to e-TV; for any assistance call 24x7 Visa support center at +91-11-24300666 or send email to indian-evisa@gov.in or visit
The Central Board of Indirect Taxes and Customs (erstwhile Central Board of Excise & Customs) launched a mobile app “Indian Customs -Guide to Travelers” for dissemination of information about the Customs Baggage Rule, 2016. The application has been launched to inform traders, exporters and importers about the Customs Baggage Rules 2016. It has been developed by Bengaluru Customs and is available on Android Play store, Apple Store and Windows store.
Bulliten- INDIA ................................................................................................................................................
EMBASSY’S LIBRARY ■■ The EMBASSY’S library is open DAILY from 10am to 1pm without appointment. ■■ For a complete list of books available in our library, visit our website www.eoivienna.gov.in . ■■ For scheduling an appointment outside the opening hours, please contact the information assistant under: info.vienna@mea.gov.in or 01 505 8666 - 44 BUSINESS CENTRE ■■ The EMBASSY’S Business Centre is opened DAILY from 10am to 1pm. ■■ For scheduling an appointment outside the opening hours, please contact the commercial wing under : comm1.vienna@mea.gov.in or 01 505 8666 - 31 STUDENTS WELFARE OFFICER ■■ Mr. Rishi Tripathi, Second Secretary in this Embassy has been designated as Officer to look after welfare of Indian Students in Austria and Montenegro. ■■ His contact details are: 0043 1 505 866 and ccl.vienna@mea.gov.in MINISTRY OF EXTERNAL AFFAIRS GOES MOBILE ■■ Avail services : passport, visa, consular assistance ■■ Ask your Minister : on the go, anytime, anywhere ■■ Follow your PM : on his visits abroad ■■ Find the nearest Indian Mission/Post : for emergency consular assistance ■■ Be informed : about India’s Foreign Relations on the move and form your own opinions ■■ Know more : about how to undertake Kailash Manasarovar Yatra and Haj Pilgrimage ■■ Download and watch : pictures & documentaries on India ■■ Play and Personalize : what you need, when you need ■■ Share and contribute : your views, pics & suggestions Ministry of External Affairs proudly presents “MEAIndia” – an integrated smart app for mobile and other hand held devices ‘MEAIndia’ is now available for download on App Store and Google Play Store. FACEBOOK & TWITTER ■■ Our Facebook and Twitter pages target the India-Austria community and covers subjects such as Business, Culture, Embassy News, India-related events and programmes in Austria, and much more.We have reached the 19000 followers mark on Facebook ! 'Like' our facebook page and be the first to know ! www.facebook.com/IndiaInAustria www.twitter.com/IndiaInAustria YOGA CLASSES ■■ The Embassy has started Yoga and Dance Classes in multipurpose hall at Embassy of India, Vienna. To register please send an email to our Cultural Wing at culture.vienna@mea.gov.in Notice Board ............................................................................................................................................... INDIA NEWSLETTER . 12
INDIA NEWSLETTER Disclaimer: Information collected in our Newsletter is through secondary research and Embassy of India, Vienna is not responsible for any errors in the same. INDIA NEWSLETTER 13
