Climate change could quadruple economic losses by 2050
Trade Promotion Council of India
Apex trade and investment promotion organization notified by the Department of Commerce, Government of India
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DGTR recommends anti-dumping duty on PVC resins
The DGTR, the Commerce Ministry’s investigation arm, has proposed an anti-dumping duty of up to US$ 339 per tonne on PVC resin imports, aiming to safeguard domestic manufacturers. The notification of the directorate said that the imports from China, Indonesia, Japan, Korea RP, Taiwan, Thailand, and the US – have caused material injury to the domestic industry.
LEAD STORY
Climate change could quadruple economic losses by 2050
New data suggests that the economic cost of climate change could be far worse than previously estimated, with GDP losses potentially quadrupling by 2050 under some scenarios. The Network for Greening the Financial System (NGFS) warns that without timely action to transition to a sustainable economy, global economic impacts could be severe. While it’s not too late to mitigate these effects, achieving net-zero emissions by 2050 would require significant global investment, as highlighted by the latest reports from both NGFS and the United Nations Environment Programme (UNEP).
Donald Trump re-elected as 47th US President
Donald J. Trump has secured a return to the White House as the 47th President of the United States, following a resounding electoral victory over Vice President Kamala Harris. With decisive wins in key swing states, Trump becomes only the second U.S. president to serve two non-consecutive terms. His win signals a renewed direction for the country, promising sweeping changes in areas such as immigration, economic reform, and national security.
FACT OF THE DAY
The Indian rupee dropped to an all-time low against the U.S. dollar on Wednesday, as early results from the U.S. election triggered a rally in the dollar and put pressure on Asian currencies. The rupee declined to 84.1725 per dollar, while the dollar index rose to its highest level in four months. Initial projections showed Trump ahead in the presidential race, sparking “Trump trades” and driving up the U.S. currency.
Aquaex India partners with Indusfood Agritech
Aquaex India is launching Aquaex India Tech, an exhibition showcasing advanced aquaculture and fisheries technologies at Indusfood Agritech, scheduled for January 9-11, 2025, at Yashbhoomi, New Delhi. The event aims to enhance productivity and sustainability in the rapidly growing aquaculture sector amid rising global seafood demand.
HIGHLIGHT OF THE DAY
Indian car dealers reported a significant 32.4% increase in sales in October, driven by festive demand, the introduction of new models, and attractive offers. Sales surged to 483,159 units compared to 364,991 units in the same month last year, as per data from the Federation of Automobile Dealers Association. However, despite the rise in sales, inventory levels remained high.
Kharif output expected to grow by 5.4%
According to the First Advance Estimate of Production of Food Grains data, the kharif foodgrain production is estimated to reach 164.70 million tonnes. Rice production, the biggest kharif crop, is likely to hit a record 119.93 MT in the 2024-25 kharif season.
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