India extends first Rupee Line of Credit to Mauritius

In today's edition of Business Bytes, we dive deeper into:

• Global electricity demand is rising faster than expected, driven by growing needs in factories, electric vehicles, air conditioners, and data centers, according to the International Energy Agency (IEA).
• LEAD: India has extended a new Line of Credit of Rs 487.60 crore to the government of Mauritius to finance a water pipeline replacement project
• India’s warehousing industry is expanding and is driven by e-commerce, 3PL, and omni-channel retail, demand is set to reach 1.2 billion sq ft by 2027
• FRESH EXCLUSIVE: In a conversation with Fresh, Chef Gill shares his vision for WACS, the essence of Indian cuisine, the role of chefs in promoting sustainability, and the importance of distinguishing between good and bad processed food
• HIGHLIGHT: India's IPO market is booming, with 47 companies raising ?16,152 crore in September
• Cargo volume at 12 major ports increased by 5.03% to reach 413.747 million metric tonnes (MMT) in September

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Rising electricity demand challenges global climate goals

Global electricity demand is rising faster than expected, driven by growing needs in factories, electric vehicles, air conditioners, and data centers, according to the International Energy Agency (IEA). While countries are expanding low-emission power sources like solar, wind, and nuclear to meet demand, the IEA warns that the current pace is insufficient to achieve net-zero emissions by midcentury. To stay on track with climate goals, nations must double their efforts in building clean energy infrastructure by 2035.

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LEAD STORY

India extends first Rupee Line of Credit to Mauritius

India has extended a new Line of Credit of Rs 487.60 crore to the government of Mauritius to finance a water pipeline replacement project. This marks the first Rupee-denominated Line of Credit provided by India for project financing to any country under the Indian Development and Economic Assistance Scheme (IDEAS).

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India’s warehousing sector on the rise, driven by e-commerce

India’s warehousing industry is expanding and is driven by e-commerce, 3PL, and omni-channel retail. Demand is set to reach 1.2 billion sq ft by 2027, with a shift towards Grade A facilities and growing activity in Tier II and III cities. Automation, sustainability, and government policies are reshaping the sector, aiming to reduce logistics costs and enhance efficiency.

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FRESH EXCLUSIVE

Chef Manjit S. Gill, president of the Indian Federation of Culinary Associations (IFCA) , is a globally recognized culinary expert with over four decades of experience. Known for his work at ITC Hotels , he pioneered concept restaurants like Bukhara , Dum Pukht , Dakshin, and Royal Vega, a vegetarian restaurant inspired by Ayurvedic principles.

Chef Gill has curated menus for global leaders, including former U.S. Presidents Obama, Clinton, and Bush, at state banquets. A strong advocate for sustainable and healthy cooking, he now aims to lead the WORLD ASSOCIATION OF CHEFS SOCIETIES (WACS), a prestigious global network of chefs.

In a conversation with Fresh, Chef Gill shares his vision for WACS, the essence of Indian cuisine, the role of chefs in promoting sustainability, and the importance of distinguishing between good and bad processed food.

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HIGHLIGHT OF THE DAY

India's IPO market is booming, with 47 companies raising ?16,152 crore in September. Retail investors are driving demand, especially in the SME segment, where offerings are often oversubscribed.

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Cargo volume at 12 major ports grew by 5% in September

Cargo volume at 12 major ports increased by 5.03% to reach 413.747 million metric tonnes (MMT) in September. The cargo transportation, during the April to August 2024 period on National Waterways reached 56.57 million metric tonnes (MMT), showing a 4.54% increase compared to the same period last year.

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