Real estate equity investments in India to exceed $10 bn in 2024
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G20 Troika promotes inclusive growth with DPI and AI for governance
The G20 Troika—India, Brazil, and South Africa—has unveiled a groundbreaking declaration highlighting the transformative potential of Digital Public Infrastructure (DPI), Artificial Intelligence (AI), and data governance. Against the backdrop of global economic growth stagnating at just over 3%, the leaders underscored the critical role of inclusive digital transformation in achieving Sustainable Development Goals (SDGs) and fostering equitable, citizen-focused progress.
LEAD STORY
Real estate investments surge to record high in 2024
Equity investments in India’s real estate sector are set to surpass US$ 10 billion in 2024, driven by a 46% year-on-year growth in inflows, reaching US$ 8.9 billion by September.
FACT OF THE DAY
Asia's jet fuel imports from India are expected to reach multi-year highs in November due to refinery outages and reduced exports from China, creating supply shortages ahead of peak winter demand. Indian refiners, processing large volumes of affordable Russian crude since 2022, can adjust exports to Europe or Asia based on market conditions.
DPIIT finalises model city logistics plans for Delhi Bengaluru
The government is in the final stages of preparing a model city logistics plan for Delhi and Bengaluru, aimed at organizing passenger and freight traffic to reduce pollution and congestion in India’s busiest cities. The Department for Promotion of Industry and Internal Trade has finalized the plans for these two cities, which were selected for this initiative in early 2022.
HIGHLIGHT OF THE DAY
The number of jobs reported by micro, small, and medium enterprises (MSMEs) registered with the Udyam portal has surpassed 23 crore. As of the latest data, 5.49 crore MSMEs have reported 23.14 crore jobs, up from 13.15 crore jobs by 2.33 crore MSMEs in August of the previous year. This increase of 10 crore jobs over 15 months includes 2.84 crore jobs from informal micro units and 5.23 crore jobs for women. Among the registered MSMEs, 5.41 crore are micro enterprises, 7.27 lakh are small enterprises, and 68,682 are medium enterprises.
Andhra Pradesh secures ?60,000 crore petrochemical hub
Andhra Pradesh will host a ?60,000-crore oil refinery and petrochemical hub at Ramayapatnam, fulfilling a 2014 bifurcation promise. Developed by BPCL on 1,000 acres, the project secures access to a captive jetty at Ramayapatnam port.
India’s insurtech sector raised US$ 2.5 billion in funding
Over the years, cumulative funding for the Indian insurtech industry has exceeded US$ 2.5 billion, raising the total ecosystem valuation to US$ 13.6 billion. A report by Boston Consulting Group (BCG) and the India InsurTech Association (IIA) predicts that the sector will attract more investment, fueled by significant growth opportunities. India is home to around 150 insurtech companies, including 10 unicorns and over 45 “minicorns.”
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