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GL BAJAJ INSTITUTE OF MANAGEMENT AND RESEARCH. PGDM INSTITUTE Plot No-2, Knowledge Park –III, Greater Noida WEEKLY EDITION GLBIMR PGDM BATCH 2024-26, SECTION - G ECONOMY AND POLICY GOVERNMENT PLANS A...

GL BAJAJ INSTITUTE OF MANAGEMENT AND RESEARCH. PGDM INSTITUTE Plot No-2, Knowledge Park –III, Greater Noida WEEKLY EDITION GLBIMR PGDM BATCH 2024-26, SECTION - G ECONOMY AND POLICY GOVERNMENT PLANS AWARENESS CAMPAIGN ON DIRECT SELLING MALPRACTICE DHRIENDRA KUMAR In a bid to safeguard consumers, the government is set to launch an extensive awareness campaign targeting direct selling malpractices. This initiative aims to educate citizens about deceptive tactics often employed in direct CONSUMPTION RECOVERED IN FY23, NEEDS selling, empowering them to make informed choices. A STIMULUS NOW By raising awareness, authorities hope to mitigate risks associated RHIK KUNDU & GIREESH CHANDRA PRASAD with fraudulent schemes and Overall household consumption expenditure growth is ensure fair marketplace practices. showing signs of moderation and needs fresh growth Stay tuned for updates on this drivers. Details of household consumption in FY24 by crucial consumer protection effort. segments is expected next year. MINT newspaper page - 02, 05 July After the pandemic, demand for goods and services grew in a wide range of sectors, including in those that had seen a sharp dip during the pandemic. These include education, transportation, dining out, recreation, automobiles and households appliances and semi durable goods. Each of these sectors reported more than 10% expansion in FY23, according to a breakup of household consumption, which comes with a lag, showing that the story of consumption recovery after the pandemic was robust. However, household consumption expenditure growth is showing sign of moderation. Details of household consumption in FY24 by segments is only expected next year. MINT newspaper page no. 02, 05 July WEEKLY EDITION ECONOMY & POLICY WEEKLY EDITION ECONOMY & POLICY  WEEKLY EDITION ECONOMY & POLICY DRUG MAKERS EYE TAX BREAKS IN BUDGET 2024 PRIYANKA SHARMA & GIREESH CHANDRA The Pharmaceuticals Export Promotion Council of India (Pharmexcil) is asking for the government to increase tax breaks for companies that invest in research and development. This could involve allowing companies to deduct a larger portion of their research expenses from their taxable income. Import Tariff Reduction on Raw Materials: Pharmexcil also wants the government to lower the import taxes on raw materials used to make antibiotics. This would make it cheaper for drug companies to produce these essential medication. The current process for claiming tax refunds on raw materials can be complex and time- consuming. Pharmexcil is requesting that the government simplify these procedures. The Indian anti-infective market, which includes antibiotics, antifungals, and antivirals, was valued at ₹251.3 billion for fiscal year 2024. This highlights the significance of this segment for the pharmaceutical industry. MINT newspaper page no. 02, 05 July TOP OIL PSUs IN TALKS FOR PETROBRAS CRUDE RITURAJ BARUAH India is a major oil importer and is looking to diversify its sources beyond traditional suppliers. This makes Brazil a new potential partner. Consortium approach: The three Indian companies - IOCL, HPCL, and BPCL - are negotiating together with Petrobras, likely to get better deals. Individual contracts: While negotiating as a group, each Indian company will sign a separate contract with Petrobras for the specific amount of crude oil they need. MINT newspaper page no. 01, 05 July  WEEKLY EDITION MARK TO MARKET: FINANCE - SPECIAL SLOWDOWN IN CAPEX, GST BLOOM NANDITA VENKATESAN Indicates a slowdown in economic activity. Companies are spending less on expansion. Increased funding and business activity in startups. Investments are booming in certain areas. High spending in the wedding industry. ₹10 Trillion refers to a significant economic figure. Greenhouse gas emissions have increased. Rising energy consumption shown in the weekly chart. MINT newspaper page - 01, 05 July MARKET SURGE EMPHASIZES IMPORTANCE OF SEBI, SAT: CJI NEHA JOSHI Chief Justice of India (CJI) D.Y. Chandrachud on Thursday emphasized the importance of market regulator Securities and Exchange Board of India (SEBI) and its appellate body Securities Appellate Tribunal in view of the relentless surge in stock prices. In May this year, the market capitalization of all the companies listed on the National Stock Exchange (NSE) exceeded $5 trillion (416.57 - trillion), coinciding with the Nifty 50 index reaching a - record high of 22,993.60 but if it is 55% or higher, the weighting drops to half. It gives you a sense of the market sentiment," justice Chandrachud said, adding that it also emphasizes the importance of regulatory authorities including SEBI and SAT. MINT newspaper page - 04, 05 July HOUSING SALES UP 11% DURING JAN-JUNE PTI The data suggests that the Indian real estate market was strong in the first half of 2024, with both housing sales and office leasing experiencing significant growth. Housing sales reached a record high of 173,241 units, representing an 11% increase compared to the same period in the previous year. Similarly, office space leasing surged by 33%, reaching a total of 34.7 million square feet across eight major cities. Interestingly, premium housing sales accounted for a substantial share (34%) of all sales during this period. Overall, the data paints a positive picture of the Indian real estate market in the first half of 2024. MINT newspaper page no. 09, 05 July WEEKLY EDITION MARK TO MARKET: FINANCE AXIS BANK MAY INTEGRATE CITI’S INDIA RETAIL ASSETS BY MID JULY SHAYAN GHOSH & GOPIKA GOPAKUMAR Axis Bank will integrate Citibank's retail business by mid-July. Citibank's customers will switch to Axis Bank. A transition agreement has been in place since March,2022. About 3,200 Citibank employees will join Axis Bank. Axis Bank bought Citi bank's retail business in India, including loans and credit cards. MINT newspaper page - 04, 05 July INVESTORS NEED TO LOOK PAST 55% MANISH JOSHI MSCI's decision to cap HDFC Bank's foreign ownership at 55% has impacted the stock negatively. HDFC Bank's shares have been falling due to this foreign ownership cap. The revised cap will be implemented on 31 July. Investors are advised to look beyond the 55% cap as the bank's fundamentals remain strong. Despite the current decline, the long-term prospects of HDFC Bank are favorable. MINT newspaper page - 04, 05 July PHONE TARIFF HIKES: IS THIS THE END OF CHEAP DATA India’s leading telecom companies Reliance Jio, Bharti Airtel, Vodafone Idea raised tariff across voice and data by 10-15%. WEEKLY EDITION MARK TO MARKET: FINANCE WEEKLY EDITION MARK TO MARKET: FINANCE  WEEKLY EDITION EDITORIAL, LONG STORIES EDITORIAL, LONG STORIES AND MAJOR ISSUES GEN AI’S BRAIN FOG WILL NOT STOP A RECKONING FOR PARMY OLSON CREATIVE FOLKS The impact of generative AI on creative professionals. It explores how AI, despite its impressive capabilities, faces challenges in replicating human creativity and originality. The article points out that AI often produces outputs that lack the nuanced and innovative touch that humans naturally provide. This phenomenon, referred to as "AI brain fog," highlights the limitations of AI in generating truly novel and imaginative content without human intervention. Therefore, while generative AI tools are powerful and useful, they cannot fully replace the unique creative abilities of human artists, writers, and other creative professionals MINT newspaper page no. - 13, 05 July THE NEW GOVERNMENT SHOULD ACT TO BROADEN INDIA’S FISCAL AGENDA INDIRA RAJARAMAN The final Union Budget for 2024-25 will be presented on July 22, expected to align with the interim budget while incorporating new initiatives due to recent developments. Examination paper leaks have become a major concern, calling for fiscal support for a training centre for exam personnel, potentially under the UPSC. The budget must also address climate change, which is causing rising food prices and severe water issues, impacting the economy. Fiscal prudence is challenged, with Moody’s warning that water scarcity could lower India's credit rating. Proposed solutions include partnerships with municipalities for restoring underground aquifers and managing floods, funded partly by private contributions. Additionally, subsidies for energy-efficient air conditioning and insulation are suggested to combat urban heat. The budget must prioritise these issues to ensure economic stability and public welfare amidst the challenges posed by global warming. MINT newspaper page - 12, 05 July WEEKLY EDITION EDITORIAL, LONG STORIES WEEKLY EDITION EDITORIAL, LONG STORIES  WEEKLY EDITION EDITORIAL, LONG STORIES CAN GHOST CITY AMRAVATI RISE FROM ITS RUINS? Once envisioned as a symbol of modernity and progress, Amravati now stands awaiting and eerily silent, its deserted streets echoing the dashed dreams of a capital city. Amidst the crumbling infrastructure and unfinished projects lies a stark reminder of bureaucratic missteps and political ambitions gone awry. Yet, hope flickers in the eyes of residents and stakeholders, as discussions reignite on resurrecting Amravati from its ghostly slumber. The challenge ahead is monumental: to transform neglect into opportunity and rebuild trust. As the debate intensifies, Amravati's revival hinges on a commitment to transparency, inclusive development, and sustainable urban planning. Can Amravati, once a beacon of promise, rewrite its destiny and emerge as a testament to resilience and foresight. HOW MANGOES KEEP THE WHEELS OF FINANCE TURNING In the world of finance, seemingly unrelated commodities often play crucial roles in global trade dynamics. Mangoes, known for their seasonal abundance and tropical allure, serve as an unexpected yet vital component in sustaining financial markets. This article explores how the cultivation, trade, and consumption of mangoes contribute to economic activities across various regions. From agricultural production stimulating local economies to international trade fostering diplomatic ties, mangoes exemplify the interconnectedness of global finance. By examining the multifaceted impact of mangoes on commerce, this piece reveals their surprising influence on economic stability and growth worldwide.  WEEKLY EDITION AI, TECHNOLOGY & STARTUPS ARTIFICIAL INTELLIGENCE (AI), TECHNOLOGY AND STARTUPS - SPECIAL DEEPFAKES AND INDIAN ELECTIONS: A CASE OF MUCH ADO OVER NOTHING JASPREET BINDRA Potential for Misinformation: Deepfakes have the capability to spread false information rapidly, leading to misinformation campaigns that can influence public opinion during elections. Regulatory Challenges: Governments face challenges in regulating deepfakes due to their complex nature and the rapid evolution of technology. There is a need for robust legislation and enforcement mechanisms to address these threats effectively. Impact on Trust: The proliferation of deepfakes can erode trust in political institutions and media sources, as distinguishing between genuine and manipulated content becomes increasingly difficult. MINT newspaper page no. 12, 05 July LARGE GEN AI DEALS PROPEL A REVIVIAL IN IT SECTOR HIRING JAS BARDIA & DEVINA SENGUPTA Large deals involving GenAI often require specialized AI expertise in areas such as machine learning, natural language processing, computer vision, and data science. This demand can lead to increased hiring of AI specialists and data engineers within the IT sector. Companies involved in large GenAI deals may expand their AI initiatives, creating opportunities for hiring software developers, project managers, and IT professionals skilled in implementing and managing AI solutions. Large GenAI deals often involve collaboration between technology companies, research institutions, and startups. This collaborative ecosystem can foster job creation across different sectors of the IT industry, including software development, cybersecurity, and cloud computing. Economic Impact: A revival in IT sector hiring driven by GenAI deals can have broader economic implications, including job creation in related industries such as consulting, finance, and healthcare, as organizations across sectors integrate AI into their operations. MINT newspaper page no. 06, 05 July  WEEKLY EDITION AI, TECHNOLOGY & STARTUPS WIPRO CONSUMER CARE VENTURES, 9UNICORNS BACK LET’S TRY K. AMOGHVARSHA Wipro Consumer Care Ventures and 9Unicorns have jointly backed the startup Let's Try. Let's Try focuses on offering unique food products aimed at providing healthier and innovative snacking options. Fabrito has secured pre-seed funding to further develop its platform. The funding will help the company enhance its capabilities and expand its market reach. MINT newspaper page no. - 03, 05 July FABRITO RAISES PRE-SEED FUNDING FROM GREEN TRUNK VENTURES, OTHERS K. AMOGHVARSHA B2B Fabric marketplace Fabrito has raised an undisclosed amount in pre-seed funding round, led by Green Trunk Ventures. Maninder Gulati (OYO), Krishna Kalyan TD (Laurus Bio), Puja Jain (ex-Mckinsey) also took part in the round. The firm will use the funds towards technology stack, expansion of textile manufacturing and seller network, and hiring. MINT newspaper page no. - 03, 05 July WEEKLY EDITION AI, TECHNOLOGY & STARTUPS WEEKLY EDITION AI, TECHNOLOGY & STARTUPS  WEEKLY EDITION GEOPOLITICS & GLOBAL AFFAIRS GEOPOLITICS AND GLOBAL AFFAIRS CHINA REOPENED TO FOREIGN STUDENTS: AMERICANS ARE STAYING AWAY JAZPER LU China's national interest is no longer solely focused on economic development Rise of a 'Responsible Great Power': Wu emphasizes that China aspires to become a responsible great power, engaging in multilateral diplomacy, upholding international norms, and promoting regional and global stability. Belt and Road Initiative (BRI): Wu sees the BRI as a critical component of China's foreign policy, aimed at promoting economic integration, connectivity, and cooperation with other countries. A new type of major-country relationship between China and the United States, characterized by cooperation on global issues while maintaining healthy competition in various fields. He suggests that both countries should work together to address common challenges like climate change, pandemics, and economic inequality. MINT newspaper page no. - 08, 05 July SIEMENS CEO FOR FINALIZING EU FTA DEVINA SENGUPTA Why India is important for Siemens? Growing Demand: India's growing economy and increasing demand for infrastructure development make it an attractive market for Siemens. Large Middle Class: India's large and growing middle class presents a significant consumer base for Siemens' products and services. Strategic Location: India's strategic location enables Siemens to leverage its production capabilities in the country as a hub for exports to other Asian markets MINT newspaper page no. - 09, 05 July WEEKLY EDITION GEOPOLITICS & GLOBAL AFFAIRS RISHI SUNAK ACCEPTS RESPONSIBILITY FOR HISTORIC TORY DEFEAT Keir Starmer will be Britain's next PM with his centre left Labour Party expected to win a huge majority in a parliamentary election, ending 14 years of often tumultuous Conservative government by trouncing Rishi Sunak's party. This victory will conclude 14 years of often turbulent Conservative rule. Calling it a "difficult night," British Prime Minister Rishi Sunak on Friday conceded defeat in the UK parliamentary elections, saying the opposition Labour Party had won. "The Labour Party has won this general election and I have called Sir Keir Starmer to congratulate him on his victory," Sunak said after winning his parliamentary seat in northern England. EUROPE HAS A NEW ROLE AS U.S. STRATEGY SHIFTS FROM CHINA The U.S.-European relationship will have several practical benefits for Washington’s rivalry with Beijing. The future of U.S.-European relations is emerging as one of the most significant factors that will shape the global system. NATO’s celebration of its 75th anniversary at the bloc’s summit in Washington next week will be overshadowed not only by Russia’s war on Ukraine but by uncertainty over the future of the alliance itself—not least because of the possibility that NATO- bashing former U.S. President Donald Trump could return to power next year. WEEKLY EDITION GEOPOLITICS & GLOBAL AFFAIRS WEEKLY EDITION GEOPOLITICS & GLOBAL AFFAIRS SCO SUMMIT: WHAT’S IN IT FOR NEW DELHI? DEVINA SENGUPTA The SCO (Shanghai Cooperation Organization) provides India with a platform to engage with key strategic partners in the region, including China and Russia, and how these relationships are crucial for India's foreign policy objectives. India's interest in regional security issues within the SCO framework, such as counter-terrorism efforts, border security, and stability in Afghanistan, and how these discussions at the summit are relevant to India's security concerns. The potential for enhanced economic cooperation through SCO initiatives, including trade facilitation, infrastructure development, and energy partnerships, and how these align with India's economic interests and growth aspiration. Analyze The role of connectivity projects like the International North-South Transport Corridor (INSTC) and the importance of SCO platforms in fostering regional connectivity and development initiatives, particularly with Central Asian countries. The challenges India faces within the SCO, such as balancing its relations with China and other member states amidst regional geopolitical dynamics, and the opportunities presented by a multilateral platform like the SCO WEEKLY EDITION GEOPOLITICS & GLOBAL AFFAIRS THE NEW ERA OF CLEAN ENERGY Transcontinental Power lines It is a grand project to build a nearly 2,500-mile subsea power line which would connect wind and solar farms in Morocco to the U.K., providing a reliable supply of electricity to meet a projected boom in demand in U.K. This ambitious project aims to harness Morocco's vast wind and solar potential to bolster the U.K.'s energy grid amid rising demand. The transcontinental power line promises a reliable, green energy supply, marking a significant step in global efforts to combat climate change. Potential economic benefits for both Africa and the Europe, including job creation and economic growth in the renewable energy sector. Experts foresee this initiative not only meeting the U.K.'s energy needs but also advancing international collaboration in renewable energy infrastructure INDIA & IRAN MAY FAST-TRACK RAIL LINK FOR CHAHBAHAR-ZAHEDAN India & Iran plan to fast-track the development of a new rail route between the Chabahar port and Zahedan city in Iran. India & Iran in May, 2024 signed a long-term contract for the development of Chabahar port after years of negotiations. IPGL (India Ports Global Ltd), under the Ministry of Ports, Shipping and Waterways, India has taken over operations of Shahid Beheshti terminals at Chabahar port. Chabahar port's development as a regional trade hub is pivotal to the endeavour. This initiative aims to harness Chabahar's strategic position to bolster connectivity, particularly for the International North South Transport Corridor (INSTC). The project seeks to Enhance trade routes and economic ties between India, Iran, and beyond. The deal is extremely critical to India’s national interests, as it opens up a faster route to world markets. WEEKLY EDITION EDITING TEAM Gaurang Sharma, PGDM24783 Sanshita Tripathi, PGDM24218 Akash Singh, PGDM24412 Unnati Singh, PGDM24724 Madhu Kumari, PGDM24127 Utkarsh Singh, PGDM24186 Anurag Koshta, PGDM24006 Khushi Kumari, PGDM24671 Rishita Sharma, PGDM24582 Shivangi Gaur, PGDM24233