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India to lead global oil demand growth, add 1 mn bpd by 2030: IEA
Economic Times
·
1m ago
Medial
India is projected to lead global oil demand growth, adding 1 million barrels per day by 2030, driven by robust economic expansion. The International Energy Agency (IEA) anticipates India's crude oil demand to surge from 5.64 million bpd in 2024 to 6.66 million bpd in 2030. India's growth is attributed to increasing transport fuel needs and a burgeoning middle class, despite high import dependency. Global oil demand is expected to plateau near 105.5 million bpd by 2030.
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India largest market for electric three-wheelers: IEA
YourStory
·
2m ago
Medial
India remains the largest market for electric three-wheelers, with sales increasing nearly 20% to about 700,000 vehicles in 2024, according to the IEA. Despite a global market decline, electric three-wheeler sales globally grew over 10% to surpass 1 million. In India, policy support, such as the PM E-DRIVE scheme, bolsters this trend. India's electric two-wheeler market also expanded, while electric car sales saw moderate growth. Local manufacturing plays a crucial role in this sector's expansion.
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AI surge to double data centre electricity demand by 2030: IEA
Economic Times
·
3m ago
Medial
The International Energy Agency (IEA) reports that data centers' electricity consumption will more than double by 2030, driven by artificial intelligence (AI) applications. AI's substantial computing power demands challenge energy security and CO2 reduction goals. Currently, data centers represent 1.5% of global electricity usage, projected to reach 3% by 2030. Big tech firms are increasingly seeking alternative energy sources, including nuclear power, to meet needs. AI offers opportunities to enhance energy efficiency while increasing consumption.
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Onitsuka Tiger considering India as manufacturing hub for regional growth
Livemint
·
7m ago
Medial
Japanese footwear brand Onitsuka Tiger, a part of Asics Corporation, is considering India as a manufacturing hub to enhance its regional growth. With rising demand for premium footwear and apparel in India, establishing local manufacturing can significantly accelerate Onitsuka Tiger’s expansion. The brand reported double-digit growth in India and plans to add more stores. India's booming footwear market, expanding e-commerce, and strong local demand make it a strategic growth region for global footwear brands.
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NCAER pitches for investment in skilling to increase jobs
Economic Times
·
1m ago
Medial
A paper by India's National Council of Applied Economic Research (NCAER) advocates investment in workforce skilling to boost employment in labor-intensive sectors by 2030. It highlights that skilled workforce increase could lead to significant job growth. The paper outlines strategies like stimulating demand, adopting global practices, and enhancing training quality. It emphasizes focusing on labor-intensive manufacturing and services and suggests that digital and soft skills can boost employability and address current skill mismatches.
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India's semiconductor demand to see 15% CAGR, hitting $108 billion by 2030: UBS report
Economic Times
·
3m ago
Medial
India's semiconductor industry is projected to grow significantly, with end-demand revenues expected to double from $54 billion in 2025 to $108 billion by 2030, according to a UBS report. This growth is driven by favorable demographics, increasing electronics demand, and supportive government policies, contributing to a 15% CAGR from 2025 to 2030. Despite representing a small portion of global wafer capacity, India's strong tech talent pool and shift in global supply chains offer a competitive edge.
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Apple, Microsoft and Nvidia are investing billions of dollars in Southeast Asia
Livemint
·
1y ago
Medial
Tech companies are increasingly investing in Southeast Asia, attracting CEOs from major companies like Apple, Microsoft, and Nvidia. With a population of 675 million and a growing workforce, the region is becoming a favorable alternative to China as a center of talent. Southeast Asia is also a substantial market for gadgets and online services, with an estimated middle-class population of 65% by 2030. The rise in AI adoption in the region has the potential to add $1 trillion to the economy by 2030. Data center demand is expected to grow by 25% annually in Southeast Asia.
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India’s Tractor Industry Riding on High-Hope
StartupTalky
·
1y ago
Medial
The Indian tractor market is expected to grow at a CAGR of 5.55 percent from 2024-2030, reaching a value of $2,676.82 million by 2030. Factors contributing to this growth include the government's favorable policies, purchase-easing schemes by businesses, and low-interest loans by banks. However, the market showed signs of non-uniformity in 2023, with declining demand in certain regions. Challenges in the sector include landholding fragmentation, affordability, low mechanization rates, and high acquisition costs. Overcoming these obstacles would lead to a more efficient and sustainable tractor industry in India, benefiting farmers and the agricultural ecosystem.
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Intel, AMD former executives throw the hat into AI semiconductor ring
Economic Times
·
2m ago
Medial
A group of former executives from Intel, AMD, and Texas Instruments has initiated AI chip startups in India, capitalizing on government incentives to tap into the multibillion-dollar semiconductor market. Companies like C2i Semiconductors, Agrani Labs, and Krutrim are developing innovative AI chips, attracting substantial investment. These startups aspire to strengthen India's semiconductor ecosystem amidst a global market projected to reach $1 trillion by 2030, driven by demand for AI and related technologies.
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Strong dollar demand by banks weakens rupee by 28 paise
Economic Times
·
1m ago
Medial
The Indian rupee weakened by 28 paise to 85.75 per dollar due to strong dollar demand from foreign and domestic banks, despite other Asian currencies strengthening. The Reserve Bank of India likely intervened by purchasing dollars through state-run banks, as the rupee traded between 85.44/$1 to 85.78/$1. Demand from nationalized banks, oil companies, and importers constrained the rupee, while the dollar index traded near a three-year low.
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Domestic growth engines remain strong, could help keep economic growth close to 6.5% this fiscal
Business Today
·
3m ago
Medial
India's economy is projected to achieve close to 6.5% GDP growth despite global trade tensions, driven by strong domestic demand and factors such as a forecasted normal monsoon, decreasing inflation, and lower crude oil prices. The Reserve Bank of India and the Economic Survey 2024-25 support optimistic growth forecasts. Although Fitch Ratings slightly reduced growth estimates due to trade war concerns, overall domestic economic conditions remain positive, with potential buoyant rural consumption due to favorable weather predictions.
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