WTO projects steady start to 2025, flags trade uncertainty
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In this latest edition of Business Bytes, we spotlight the stories making headlines
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Race to 600 GW: Can India power its future without fossil fuels?
India is facing a growing energy demand challenge, driven by rapid consumption and rising temperatures. To meet this surge sustainably and affordably, the country must scale up its non-fossil-fuel energy capacity to 600 GW by 2030, according to a new report by the Council on Energy, Environment and Water (CEEW). The report highlights the economic, environmental, and social benefits of a high renewable energy pathway while warning of potential power shortages if targets fall short.
LEAD STORY
WTO sees stable start to 2025 but warns of trade uncertainty
The WTO expects global trade to remain steady in early 2025 but warns that rising trade policy uncertainty and potential new tariffs could weigh on growth later. It maintains its 3% trade volume growth forecast for 2025. While global trade rebounded in 2024, regional disparities persist, with weaker European trade and stronger performance in Asia and North America.
FACT OF THE DAY
A study reveals that no country is on track to achieve all 17 Sustainable Development Goals (SDGs) by 2030, with varying progress influenced by geographical, cultural, and socioeconomic factors. African and Asian countries excel in climate action and responsible consumption, yet lag in eradicating poverty and gender equality.
Rethinking rice: A shift to climate-resilient crops
A recent study published in Nature Communications highlights that shifting from rice cultivation to alternative cereals like millets, maize, and sorghum can enhance farmers’ incomes while reducing climate-induced production losses by up to 11%.
Conducted by experts from the US, India, and Italy, the research emphasizes that farmers’ crop choices are closely tied to price fluctuations, and economic incentives could accelerate this transition.The study also calls for policy reforms, including revised pricing structures and support for climate-resilient crops, to ensure a more sustainable and profitable agricultural system in India.
HIGHLIGHT OF THE DAY
Niqo Robotics transforms farming in the Global South with AI-driven spot spraying across 148,000 acres, helping 3,000+ farmers cut agrochemical use and water consumption by up to 60%, while boosting precision and soil health.
India best placed in Asia for growth amid trade tensions
India is seen as the most favourably positioned country in Asia for economic growth amid ongoing global trade tensions, according to a Morgan Stanley report. The outlook is supported by strong services exports, low reliance on goods exports, and government policies that promote growth. Easing monetary policy and rising domestic demand are also expected to boost economic performance despite global headwinds.
India’s tea exports hit decade-high of 255 mn kg
?In 2024, Indian tea exports soared to a decade high of 255 million kg, fueled by strong demand from the UAE, Iraq, and Russia—an increase of 10% compared to 2023. The average global price of Indian tea also climbed by 10% per kg offering a positive outlook for the Indian tea industry.
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