SUPPLY CHAIN ISSUES
Brands, channel your inner mojo
Many FMCG and consumer discretionary companies have faced sluggish consumption for seven quarters. While rural markets are stressed, discretionary spending has dropped. New-age D2C brands have captured significant market share by catering to niche needs. Established companies can regain growth by adopting a brand-as-platform strategy and leveraging technology.
DGCA proposes stricter norms for wet-leased plane operations by Indian airlines
The Directorate General of Civil Aviation (DGCA) has proposed stricter norms for the oversight of wet-leased planes operated by Indian airlines. This move aims to address safety concerns and enhance regulatory frameworks, as domestic carriers increasingly rely on wet-leased aircraft due to engine and supply chain issues. Public consultation on the draft is now open.
India, US work for critical minerals self-reliance, supply chains
India and the US are collaborating to become self-reliant in critical minerals, strengthen supply chains, and adopt advanced technologies. Commerce and Industry Minister Piyush Goyal announced his upcoming visit to Washington for the India-US CEO Forum. He emphasized the strategic relationship between the two nations and their shared interests in bilateral and geopolitical issues.
India has capability to become trusted partner in diversified semiconductor supply chain: PM Modi
Prime Minister Narendra Modi highlighted India's potential in the semiconductor sector, assuring a stable policy regime. He emphasized technology's role in welfare and India's readiness to be a trusted partner in the global supply chain. CEOs praised India's growth environment and expressed confidence in its future as a semiconductor powerhouse.
Unilateral carbon, digital measures create trade tensions: WTO
The WTO warns that unilateral approaches to the digital economy and low-carbon transition could cause trade tensions and distortions. It emphasizes the need for multilateral policies to reduce poverty and inequality, benefiting vulnerable groups. The report highlights the importance of inclusive trade agreements and investment facilitation for development.
Jeyyam Global Foods stock lists flat at Rs 61 on NSE SME platform
Jeyyam Global Foods Share Price: Jeyyam Global Foods made a flat debut on the NSE SME platform with a listing price of Rs 61, matching its issue price. The IPO received strong investor interest, being subscribed over 100 times. The company plans to use the proceeds for working capital, capital expenditure, and general corporate purposes.
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Indo-Russian train making JV plans expanding India presence
According to Aleaxandra Meluzova, Chief Executive Officer (CEO) at Kinet Railway Solutions, the JV's Latur project is important to establish a long term industrial relationship between Russia and India.
Cash-rich quick commerce firms rush to grab dark store sites, personnel amid rapid growth
Quick commerce in India: There is fierce competition for the right sites — now increasingly expensive and difficult to find in large cities — to set up these micro warehouses for servicing localities in the vicinity. Meanwhile, the likes of BigBasket, Zepto, Flipkart Minutes and Swiggy Instamart are recruiting aggressively, as well as poaching, people in the know told ET.
Q-comm dark store battle; NPCI’s new UPI Circle
Happy Tuesday! Companies in the buzzy quick commerce sector are jostling for warehouses to fortify their supply chain. This and more in today’s ETtech Morning Dispatch.
Circuit breaker: India’s strategy for becoming a leader in sustainable electronics manufacturing
India has plans to become a centre for sustainable electronics component manufacturing. Will a proposed new incentive scheme, offering Rs 40,000 crore in subsidies, help achieve that aim? The scheme targets capital and operational costs, aiming to address import dependency and create high-value jobs while boosting domestic production and global competitiveness.
Stabilising prices, securing steady supply should be a priority to sustain the millet revolution: Founder of Millet Bank
A focused effort over the next decade is essential to meet the desired goals in production of millets in India, says Vishala Reddy Vuyyala, Founder, Millet Bank and Minkan Agro Industries.
Wary of Donald Trump, US minerals projects rush to close government loans
US miners and battery recyclers are hurrying to secure billions in government loans before January, fearing a potential funding block if former President Donald Trump is reelected. The mining industry seeks Washington's support to counter China's market influence and bolster domestic supply of critical minerals for the energy transition.
US India's top trade partner in first half of the year; max deficit with China
The United States emerged as India's leading trading partner in early 2024, although the country experienced a record trade deficit of $41.6 billion with China. India's merchandise exports increased by 5.41%, led by sectors such as iron ore and pharmaceuticals, while services exports grew by 6.9% to $178.2 billion, says GTRI.
India is growing 'very well,' but it still needs a strong jobs push, IMF's Gita Gopinath says
Gita Gopinath, IMF's deputy managing director, emphasized that India needs significant reforms to sustain its economic growth. With a 7% growth rate projected for this year, the focus should be on job creation and ease of business to attract investments. Gopinath highlighted infrastructure investment, labor market flexibility, and reduced trade restrictions as key factors.
ET Road Safety & Safer Mobility Forum 2024: The ‘road’ ahead to tech-powered, safer logistics and supply chains
The Delhi edition of the ‘The Safety Circuit: Enhancing Safety Standards in Modern Logistics and Supply Chains’ roundtable, organised by The Economic Times and powered by Netradyne, brought cross-industry decision-makers together to brainstorm and formulate actionable strategies to make logistics and supply chains safer, and leveraging technology towards achieving the goals.
EVs across different categories will be at par or cheaper than ICE products soon: Bhavish Aggarwal
Bhavish Aggarwal of Ola Electric announced that their S1 X scooters are priced to compete with ICE scooters. Ola quickly went public and focuses on leading India's EV future through vertical supply chain integration. The company aims to achieve price parity between EVs and ICE vehicles soon, with ongoing advancements in lithium cell production.
Think making cars is hard? Try being a supplier
Major component manufacturers such as privately owned Robert Bosch GmbH, ZF Friedrichshafen AG and stock-market listed Continental AG have been hurting for years amid a cornucopia of inflationary and competitive pressures, plus the slow recovery of car production following the pandemic.
Mention of heatwaves at all-time high in India’s earnings calls
India faced near-record temperatures this summer as a devastating heat wave gripped most parts of the country including its financial hub Mumbai and the capital city of New Delhi.
Chemicals, auto, pharma in critical sectors list to cut import dependence
Last year, the 14 IPEF nations inked a supply chain resilience agreement to reduce dependence on China and shift production of critical sectors and key goods to member countries. The IPEF includes India, Australia, the US, Japan, Fiji, South Korea, New Zealand, Singapore and Thailand, representing 40% of global gross domestic product and 28% of the global trade in goods and services.
Chinese FDI Pe Charcha: The debate on Chinese investments in India
The Economic Survey has stirred a political debate by suggesting that Foreign Direct Investment (FDI) from China could bolster India's global supply chain participation through exports. Despite India's 'China+1' strategy, aimed at reducing dependency on Beijing, the survey argues that inviting Chinese investments can boost India's export capabilities. The government, however, swiftly denied any easing of restrictions on Chinese capital inflows. The ongoing discussion highlights the need for a balanced approach, considering both national security concerns and economic growth.
EU suggestion on India’s carbon tax will not help local companies: GTRI
Global Trade Research Initiative recommended a strategic response to the EU's upcoming Carbon Border Adjustment Mechanism, which will impose a tax of 20-35% on certain imports from January 2026. The think tank suggested renaming current schemes as carbon taxes and adopting a calibrated retaliation strategy. They pointed out that simply adding local taxes may not alleviate the burden on Indian exporters. India had previously retaliated against U.S. tariffs in 2018. The EU's additional regulations on deforestation and supply chain due diligence may further impact Indian exports.
Goyal rules out rethink on Chinese investment norms
Commerce minister Piyush Goyal confirmed that India is not reassessing its stance on easing Chinese investment norms, despite recommendations from the Economic Survey. He also mentioned that India will consider the European Union's proposal to implement its own carbon tax system in response to the EU's carbon border adjustment mechanism (CBAM).
Not just Sensex, equity investors should check Geopolitical risk index too; Up 27% last year, may worsen in near future: Eco Survey
Equity shareholders should also take into account the Geopolitical Risk Index along with the Sensex as it has increased significantly. The Geopolitical Risk Index relies on an aggregation of news articles pertaining to geopolitical tensions from ten newspapers.
Centre woos Tesla and states gear suppliers
The southern state-widely regarded as an automotive and electronics manufacturing hub-already has some of Tesla's suppliers based there. This includes a European metal automotive component maker, which is looking to expand its existing operations,and a German manufacturer, which has a joint venture in Pune, manufacturing high performance rubber parts there.
Piyush Goyal discusses UK, EU trade pacts at G7 meeting
Commerce and Industry Minister Piyush Goyal, at the G7 trade ministers meeting in Italy, discussed India's FTAs with the EU and UK and the India-Middle East-Europe Economic Corridor. Talks with Valdis Dombrovskis focused on India-EU trade and FTA negotiations, while discussions with Jonathan Reynolds covered deepening India-UK economic ties and resolving FTA issues before elections. Goyal met ministers from Italy, Germany, and New Zealand to strengthen supply chains amid global crises like Covid-19. Emphasis was placed on collaborations in critical sectors like minerals, semiconductors, pharmaceuticals, and green energy, as well as public-private partnerships and regulatory frameworks. The eighth round of India-EU FTA talks was held in June, with another round expected in September. Investments in critical infrastructure were also addressed.
U.S. creates high-tech global supply chains to blunt risks tied to China
The core elements of the plan include getting foreign companies to invest in chipmaking in the United States and finding other countries to set up factories to finish the work.
Union Budget 2024 measures can upgrade India's supply chain in its bid to match up with China
BUDGET EXPECTATION: Finance Minister Nirmala Sitharaman, through Budget 2024, may introduce measures to strengthen India’s supply chain and manufacturing sector. This aligns with India’s strategic pivot to become a global manufacturing alternative to China. Under Prime Minister Modi's leadership, India has gained traction with infrastructure and logistics improvements, drawing multinational interest.
Capital goods train delay hits India Inc's capex plans as manufacturers in China & Southeast Asia embark on their own expansion plans
Geopolitical tensions and the Red Sea crisis have increased delivery times for machinery, affecting production lines and capital goods planning for Indian companies like Amber Group and Havells India.
Pieter Elbers explains what is driving up IndiGo profitability and double-digit capacity guidance for FY25
Pieter Elbers, CEO of InterGlobe Aviation, highlights IndiGo's unique position with over 50 planes delivered annually. Q4 revenue drivers include Indian market growth and strategic initiatives. He discusses the seasonally weak Q4 yields and predicts similar revenue environment for Q1 FY25. Elbers says their strategy is starting to take shape and resonating very well for all the different initiatives.
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