Business Today

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A Slice of Global Finance

Business Today

FOREIGN RETURNS • IMPROVED INFRASTRUCTURE AND THE GOVERNMENT’S EFFORTS TO PROMOTE TOURISM LED TO A 59 PER CENT JUMP IN INTERNATIONAL TOURIST ARRIVALS IN 2023. HERE IS WHAT THE NUMBERS SAY:

FISCALLY FIT • DESPITE AN UNCERTAIN GLOBAL ENVIRONMENT, A NUMBER OF MACROECONOMIC PARAMETERS AND HIGH-FREQUENCY INDICATORS UNDERLINE THE INDIAN ECONOMY’S STRENGTH AS WE ENTER 2024. DATA SHOWS THE ECONOMY IS PICKING UP STEAM, WITH INCREASED INDUSTRIAL ACTIVITY, HIGHER FOREIGN EXCHANGE RESERVES, RECORD GST COLLECTIONS, AND ROBUST GDP GROWTH. A LOOK AT THE NUMBERS:

GUJARAT THE GROWTH ENGINE OF THE NATION • With a Compound Annual Growth Rate (CAGR) of 15 percent from 2002-03 to 2022-23, surpassing the national average, Gujarat has progressed as one of the country’s fastest-growing states. It offers an enviable model of economic progress and development that significantly contributes to the nation’s economy and positions India as a competitive market despite the global downturn. Gujarat has emerged as an 'Invest-or-friendly' destination in the country, which offers a luxurious lifestyle of leisure, pleasure, business and investments.

TEMPLE BOOM • From hotels to real estate, and airlines to railways, there’s a frenetic pace of activity at Ayodhya

Trade Gains • While India Inc. expects a boost in trade as the government races to conclude a number of trade deals in 2024, gains may take some time

IN SEBI’S COURT • The Supreme Court ruling in the Adani-Hindenburg matter has made it clear that Sebi is the sole authority that will look into the allegations against the conglomerate

WARM VIBES • With winter at its peak, sales of appliances like geysers and room heaters are spiking, bringing cheer for retailers and manufacturers alike

Choppy Waters • The derogatory remarks of now-suspended Maldivian ministers have not only led to calls for a boycott of the island nation but also a surge in demand for domestic destinations like Lakshadweep

THE BACKLASH

Poised for Growth • Following the outperformance of the broader markets in 2023, market watchers are counting on large-caps to come through in 2024, despite some concerns

CHIPS RISE • Tata’s announcement of a semiconductor unit and Simmtech’s ₹1,250-crore investment plan are encouraging, but India’s fab dream is still a long road

Celebrating AI • From home appliances to cars, companies across the board have embraced AI at CES 2024

ADANICONNEX: TAPPING INTO DATA CENTER GROWTH • Digital technology and mobility are integral to our everyday lives. Being connected has made distances shorter, tasks simpler, and life more convenient. Businesses are focused on digital transformation with remote workers, artificial intelligence (Al), machine learning, Internet of Things (loT), blockchain, and new technologies shaping their future. Data centers are now more than ever critical infrastructure that need to keep pace with the new wave of niche digital solutions and technology that are built to deliver real-world impact. This has led to big domestic as well as global infrastructure firms investing billions to build data center infrastructure in the country. Although still at a nascent stage, India’s data center market stands out prominently, accounting for 1.5% of global data center capacity.

THE PROJECT

CAPITAL GATEWAY • IN THE MAKING FOR OVER A DECADE, INDIA’S ONLY INTERNATIONAL FINANCIAL CENTRE, GIFT CITY, NOW SEEMS TO BE TAKING SHAPE WITH FOCUSSED POLICIES AND REGULATORY CLARITY. THERE’S GROWING INTEREST FROM INVESTORS AND MORE CONFIDENCE ON THE GROUND BUT A FEW MORE POLICY TWEAKS MAY BE...