India shows record export growth in October; US market shows strong momentum
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India’s insurance growth outshines China and Thailand
India’s insurance industry has seen remarkable growth, achieving a gross written premium of over US$ 130 billion and an 11% CAGR from FY2020-23. This surpasses countries like Thailand and China, which recorded growth below 5%, as per a report by McKinsey & Company.
LEAD STORY
Indian startups raise record $10 bn by October 2024
India’s total exports during April-October 2024 reached US$ 468.3 billion, a 7.3% increase YoY. Merchandise exports in October alone jumped by 17.2% to US$ 39.2 billion led by rice, electronic goods, engineering goods, jute products and readymade garments among others.
The US remained India’s largest export destination, while China was the top source of imports, with a 9.8% increase to US$ 65.9 billion. India’s export cycle typically improves in the second half of the year, but much depends on the pace of global growth recovery, which remains patchy.
Game on! India’s sports sector eyes a $130 bn score
India’s sports industry is hitting its stride, expanding rapidly beyond the cricket pitch and captivating audiences across a diverse array of sports. A new report by Google and Deloitte, titled ‘Think Sports: Unlocking India’s $130B Sports Potential,’ reveals a remarkable transformation underway. With a projected growth rate of 14%—nearly double the pace of India’s GDP—this sector is set to soar to an impressive valuation of $130 billion by 2030.
From packed stadiums to rising stars in everything from football to badminton, India’s sports landscape is evolving into a powerhouse of opportunity, innovation, and unstoppable momentum.
HIGHLIGHT OF THE DAY
The 2025 Times Higher Education (THE) Global University Employability Ranking and Survey (GUERS), features 10 Indian institutions in the top 250, based on employer feedback on the most employable graduates produced by universities worldwide. IIT Delhi remained the top performer among Indian univesities in the survey.
India eases compliance for white category industries
In a move aimed at streamlining compliance, India’s Union Environment Ministry has exempted industries in the ‘white category’—non-polluting industries with a pollution index score below 20—from obtaining separate Consent to Establish (CTE) and Consent to Operate (CTO) from state pollution boards.
FACT OF THE DAY
The Indian e-commerce market is projected to grow at a CAGR of 21% and reach US$ 325 billion by 2030, as per a report by Deloitte. This potential is attracting big players like Tata and Reliance into the quick commerce segment.
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Agro Tech to acquire Del Monte in Rs 1,300 crore share swap
Agro Tech Foods, backed by Samara Capital, is set to acquire Del Monte Foods, a Bharti Enterprises and Del Monte Pacific joint venture, through a Rs 1,300 crore share swap deal. As part of the agreement, Agro Tech will issue 13.3 million shares to current stakeholders Bharti (59.29%) and Del Monte Pacific (40.7%), making Del Monte a wholly owned subsidiary.
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