India leads Asia-Pacific in FMCG sales growth via modern trade
Trade Promotion Council of India
Apex trade and investment promotion organization notified by the Department of Commerce, Government of India
In todays edition of Business Bytes, we dive deeper into:
Happy reading!
Government to fully automate customs processes by April 2026
The aim is to simplify business processes for importers and exporters and reduce trade turnaround times. The customs department has been working on a fully automated trade interface system called ‘Customs 2.0’ as part of the government’s effort to boost its ranking in the World Bank’s Logistics Performance Index (LPI).
FACT OF THE DAY
Starting October 1, 2024, Sri Lanka will offer visa-free entry for six months to citizens of 35 countries, including India, the UK, and the US. This move, designed to boost tourism, follows prior discussions on increased on-arrival visa fees managed by a foreign company. Previously, certain countries already enjoyed free tourist visas.
LEAD STORY
India leads APAC in double-digit FMCG and tech durables growth
India stands out in the Asia-Pacific region for consistently achieving double-digit sales growth in the FMCG and tech durables sectors through modern trade channels, as per a report by NielsenIQ. The report highlights India’s leading position, with premium-priced products contributing significantly to this growth—over 40% in FMCG and 30% in tech durables. Despite the rapid expansion of online shopping, modern trade, characterised by large, organised retail formats like supermarkets and hypermarkets, remains the dominant sales channel in the country.
India’s urea industry to drastically cut import dependency
India’s urea industry is poised to sharply reduce its reliance on imports, thanks to new production capacities stabilizing under the New Investment Policy 2012, significantly enhancing domestic self-sufficiency.
领英推荐
HIGHLIGHT OF THE DAY
Tamil Nadu Chief Minister M K Stalin laid the foundation stone for the state’s first Green Hydrogen project worth ?36,238 crore in Thoothukudi, as part of 28 new projects. Additionally, 19 other projects will be inaugurated. Together, these 47 projects are valued at ?68,773 crore and are expected to create over 1.06 lakh jobs. The Green Hydrogen project, the largest in India, will produce 200,000 tonnes of Green ammonia annually, with exports planned to Japan. This event highlights the state’s commitment to realizing projects signed during the Global Investors Meet 2024.
India remains net steel importer; Prices hit three-year low
India remains a net steel importer, with China as its top supplier, importing 2.69 million metric tons and exporting 1.57 million tons this fiscal year. Despite strong domestic demand, steel prices have dropped to a three-year low due to rising imports and sluggish exports.?
Read more
Corbion expands in India with Novotech acquisition
Corbion has acquired Delhi-based Novotech Food Ingredients’ bread improver business, strengthening its presence in the Asia Pacific and expanding its product offerings in India. This strategic move enhances Corbion’s ability to deliver tailored, high-quality solutions globally and regionally.
Thank you for appreciating our content. We welcome you to access our weekly India Business & Trade newsletter for deeper insights into India's business and trade ecosystem. To subscribe, click https://shorturl.at/BK26Q
The content of this newsletter has been sent as part of TPCI’s outreach initiatives to its members, associates and the larger Indian industry ecosystem. TPCI puts the security of its members and associates at a high priority.
The views, opinions and data included in this newsletter have been included keeping the business interests of TPCI’s members and associates in mind. Recipients are, however, requested, to recheck the given information before putting it to use. TPCI and/or any of its employees do not take any liability for views/opinions/data points expressed.
For any suggestion/query, you may write to [email protected]
Founder @ DREAMS CLUES?? | Business Ownership, Start-up Leadership
6 个月*Public Notice: Beware of Trade India's Poor Services* Attention all businesses and individuals! We have had a terrible experience with Trade India's services and want to warn others about their unprofessional and fraudulent practices. *Red Flags:* - Poor communication and unresponsive team - Failure to deliver on promises and commitments - Low-quality products and services - Unwillingness to resolve issues or provide refunds - Lack of transparency and accountability *Protect Yourself:* - Research thoroughly before engaging with Trade India - Be cautious of their false promises and marketing gimmicks - Demand clear agreements and contracts - Monitor their performance closely - Seek help from regulatory bodies if necessary *Share Your Experience:* If you have had a similar experience with Trade India, please share your story to help others make informed decisions. *Stay Vigilant:* Let's work together to expose and avoid fraudulent companies like Trade India.