India: Economic Growth| Surge In Billionaires| Amul Outside India| AI and Internet of Things| IPL
India Top News:
Stay informed with India’s latest headlines. Here we bring to you what transpired that has significance to the nation and its people. Read on to update yourself.
India Among Leaders In Asian Emerging Markets
S&P Global Ratings revised India’s growth forecast for 2024-25 to 6.8%, up by 0.4%, citing robust domestic demand. The Economic Outlook for the Asia Pacific highlights India, Indonesia, the Philippines, and Vietnam as leaders in growth among Asian emerging markets. This adjustment follows last November’s projection of 6.4% growth for India. S&P anticipates rate cuts up to 75 basis points in India later this year, aligning with US policy rates, due to higher interest rates and inflation impacting household spending.
Mumbai Emerges As Asia’s Billionaire Epicenter
India saw a surge in billionaires, adding 94 new ones in 2023, bringing the total to 271, with a combined wealth of $1 trillion, according to a report released Tuesday. Mukesh Ambani of Reliance Industries ranks 10th globally, with a wealth of $115 billion. Gautam Adani of Adani Group follows, ranking 15th with a net worth of $86 billion. The report highlights India’s booming stock market, adding the most billionaires after the US. Mumbai emerges as Asia’s billionaire epicenter, surpassing Beijing, with New Delhi entering the top 10 cities. The Hurun Global Rich List positions India as a future economic powerhouse.
Amul Milk To Be Available Outside India For the First Time
Gujarat Cooperative Milk Marketing Federation (GCMMF) is set to launch Amul fresh milk outside India for the first time, targeting the US market. Partnering with the Michigan Milk Producers Association, GCMMF will introduce four variants of Amul milk, catering to the Indian diaspora and the Asian population. MMPA will handle the milk collection and processing, while GCMMF will manage marketing and branding. Available in key cities like New York, New Jersey, and Chicago, GCMMF aims to tap into NRIs and Asian consumers. With a turnover of Rs 55,000 crore in 2022-23, GCMMF eyes a successful foray into the US dairy market.
AI and Internet of Things For Bengaluru Water Crisis Management
Amidst Bengaluru’s water crisis, the Bengaluru Water Supply and Sewerage Board (BWSSB) integrates Artificial Intelligence (AI) and Internet of Things (IoT) technologies to manage borewells. IoT sensors analyze flow patterns, and send data to the cloud for assessment, regulating motor operation for optimal usage. V Ram Prasath Manohar, BWSSB Chairman, emphasizes the move’s sustainability benefits, curbing unscientific borewell exploitation. With 6,900 borewells dried up, the city faces severe water scarcity. The civic agency’s initiatives include tap aerator mandates and restrictions on water usage for non-essential activities like pool dances during festivals, aiming to mitigate the crisis.
RCB Clinches Thrilling Victory Over Punjab Kings
Virat Kohli’s scintillating 77 off 49 deliveries propelled Royal Challengers Bangalore to a thrilling four-wicket victory against Punjab Kings at the Chinnaswamy Stadium. Dinesh Karthik and Mahipal Lomror’s late heroics sealed the win, with Karthik striking the winning boundary in the final over. Despite Punjab Kings’ 176/6 on a flat M. Chinnaswamy Stadium wicket, RCB’s exceptional death bowling restricted their opponents. Faf du Plessis’ Punjab Kings suffered a setback in their campaign, following their defeat to Chennai Super Kings in the tournament opener. Mustafizur Rahman’s pivotal wickets disrupted RCB’s batting order, although Dinesh Karthik and Anuj Rawat’s resilient partnership provided a silver lining.
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