India's push for electrolysers: IBT Newsletter May 27-31, 2024

Dear Stakeholders,

Welcome to the latest edition of our India Business & Trade newsletter!

• In this edition we dive into India's strategic push for electrolyzer manufacturing, fueled by a recent ₹19,744 crore allocation to SIGHT under the Green Hydrogen Mission. Can this bold move be a global game-changer?

• As temperatures rise, so do the challenges in India's tea sector.

• GenAI: The future of finance or just another buzzword?

• Interesting growth prospects in India-Russia Trade by Andrey Grechkin, CEO of Dalreftrans (FESCO Transportation Group) s.

• Plus, discover what skills India needs for export success in our industry survey results!

Stay informed, stay empowered.

Empowering the future: India’s strategic push for electrolyzer manufacturing

India's ambitious goal for a 3 GW annual electrolyzer manufacturing capacity under the National Green Hydrogen Mission promises to revolutionize hydrogen production and reduce import dependency. But can this bold move truly position India as a global leader in green hydrogen technology and sustainability?

With a vision to produce 5 million metric tonnes of green hydrogen annually, the NGHM features two primary components: the Strategic Intervention for Green Hydrogen Transition (SIGHT) and the Strategic Hydrogen Innovation Partnership (SHIP). These initiatives, supported by a ₹19,744 crore allocation, focus on public-private partnerships, pilot projects, skill development, and extensive research and development.

Spellbound by heat wave: The Indian tea paradox

The heat is on as mercuries rise across India, and it seems to be catching on to the tea sector as well. According to tea planters, the exceptionally prolonged period of dry weather without rain has adversely affected both production and quality of the premium *first flush teas, which reach the market in April-May period. The quantity of good first flush teas has reportedly been affected due to the extended dry spell.

While some experts predict that crop losses will rise to over 50% other analysts are confident that availability of tea in the domestic market won’t be affected despite significantly low average rainfall in February this year in the two major tea-growing states

GenAI’s impact on financial services transformation

The financial services industry is transforming with generative AI (GenAI), enhancing customer service, fraud prevention, and tasks like code development and regulatory reporting. McKinsey estimates GenAI could add $200 billion to $340 billion annually to the global banking sector, boosting revenues and efficiencies.

However, challenges remain, such as data privacy, ethical biases, integration with legacy systems, regulatory compliance, and the AI talent gap. Can the industry overcome these hurdles to fully unlock GenAI's potential?

Prospect of banana exports by India to Russia could be huge

India Business & Trade recently caught up with Andrey Grechkin, CEO of Dalreftrans, a subsidiary of FESCO Transportation Group. The discussion revolves around Dalreftrans’ role in facilitating trade between India and Russia, particularly focusing on perishable cargo.

Grechkin sheds light on Dalreftrans’ expertise in refrigerated container transport and their position as the leading reefer operator in Russia. He also highlights their commitment to end-to-end logistics and their plans for expansion in the Indian market. The interview delves into the future of India-Russia trade, exploring opportunities for balancing exports and potential products that can be explored for bilateral trade.

POLL: Top areas for export upskilling in India

The Trade Promotion Council of India recently conducted a poll asking stakeholders to identify the top areas for export upskilling in India. Among the four options provided, 61% of respondents identified International Marketing as the most crucial skill needed. This was followed by Logistics and Insurance at 14%, Foreign Trade Policies at 11%, and Trade Finance at 11%.

Regulations relaxed for green hydrogen producers in SEZs

India has exempted solar and wind energy plants located in special economic zones (SEZs) or export-oriented units (EOUs) from the requirement to purchase modules and turbines from the approved list of models and manufacturers (ALMM).

This exemption applies to plants that will be commissioned by December 2030 for producing green hydrogen and its derivatives within the same zones. 

Fighting counterfeits with advanced packaging technologies

Counterfeiting is actually way more harmful to business prospects than most companies realise, with an estimated loss of US$ 4.5 trillion globally. This means that there is an untapped demand in the market that brands are not fulfilling today, as they are not aware of this demand being fulfilled through counterfeiters. By adopting a secure track-and-trace system, companies can better manage their operations and maintain a competitive edge in the global marketplace.

In this edition of our Tech Trailblazers episode series, we welcomed Kaushik Banerjee, co-founder and CEO of Noos Technologies, a company in the field of anti-counterfeit tamper evidence, warranty fraud detection, and tracking that uncovers the hidden cost of counterfeits in the supply chain, provides an itemised view, helps companies protect their goods and allows customers to ascertain the difference.

Agriculture 2.0: Power of cloud technologies in modern farming

The agricultural sector, the backbone of the Indian economy, has shown remarkable resilience, significantly aiding the nation’s economic recovery despite challenges like the global health crisis and climate variability.

With rising demands for food production and increasing exports cloud-based technologies could play a crucial role in boosting agricultural output and offering various solutions to farmers. This article explores how adoption of these solutions can support farmers and enhance the overall agricultural economy.

Employee recruitment and retention in a dynamic, new-age work environment

In today’s competitive job market, attracting and retaining top talent is crucial. Companies must adapt their recruitment strategies to embrace flexibility, prioritize employee well-being, leverage technology, and foster diversity and inclusion. By doing so, organizations can position themselves as employers of choice and secure the skilled professionals needed for success.

India’s data centre capacity to cross 1,800 MW by 2026

India’s data centre (DC) industry has demonstrated remarkable growth, with its capacity doubling since the onset of the COVID-19 pandemic. According to a recent report by CBRE South Asia, titled ‘Asia Pacific Data Center Trends Q1 2024’, India’s data centre capacity is expected to surpass 1800 MW by 2026, positioning it above other major Asia-Pacific (APAC) countries.

With its robust growth trajectory, significant investment inflows, and strong policy support, India’s data centre sector is well-positioned to continue its expansion and maintain its leading position in the APAC region.

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