1. NITI Aayog released 'Export Preparedness Index (EPI) 2022' report
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The ITI Commission released the 3rd edition of 'Export Preparedness Index (EPI) 2022' for the States/UTs of India.
An Overview of the News
The report was released by Vice President Suman Berry and other officials.
It aims to promote India as a global export player by leveraging regional competitiveness and diversity.
The focus is on export performance both at the state and district levels.
Objectives of EPI 2022
Empowering state governments with sector-specific insights for decision making.
Identify strengths and address weaknesses to promote comprehensive development.
To promote competitive federalism among the States/UTs.
Four Pillars of EPI 2022
Policy pillar: Evaluates the adoption of the export-related policy ecosystem and institutional framework at the state and district levels.
Business Ecosystem: Assesses the business environment, supporting infrastructure and transport connectivity in the States/UTs.
Export ecosystem: Focuses on export-related infrastructure, business support and research and development (R&D) to foster innovation.
Export Performance: Measures the growth, concentration and global market footprint of a state's exports.
Ten sub-pillars - Export Promotion Policy, Institutional Framework, Business Environment, Infrastructure, Transport, Connectivity, Export Infrastructure, Trade Support, R&D Infrastructure, Export Diversification, and Growth Orientation
Top Performing States/UTs
Coastal states including Tamil Nadu, Maharashtra, Karnataka and Gujarat performed well in all categories.
EPI 2022 Rankings
Rank | State | Category | Score |
1 | Tamil Nadu | Coastal | 80.89 |
2 | Maharashtra | Coastal | 78.20 |
3 | Karnataka | Coastal | 76.36 |
4 | Gujarat | Coastal | 73.22 |
5 | Haryana | Landlocked | 63.65 |
6 | Telangana | Landlocked | 61.36 |
7 | Uttar Pradesh | Landlocked | 61.23 |
8 | Andhra Pradesh | Coastal | 59.27 |
9 | Uttarakhand | Himalayan | 59.13 |
10 | Punjab | Landlocked | 58.95 |
2. 13.5 crore Indians out of multidimensional poverty in 5 years
Tags: Reports
According to the 'National Multidimensional Poverty Index: A Progress Review 2023' report released by NITI Aayog, between 2015-16 and 2019-21, 135 million people in India have successfully lifted themselves out of multidimensional poverty over a period of five years.
An Overview of the News
The report highlights a sharp decline in the number of multidimensionally poor persons in India, which increased from 24.85% in 2015-16 to 14.96% in 2019-21, showing a significant decrease of 9.89 percentage points.
Rural areas have seen the fastest decline in poverty, with the poverty rate falling from 32.59% to 19.28% during the same period.
India is making significant progress towards achieving SDG target 1.2, which aims to reduce multidimensional poverty by at least half before 2030, well ahead of schedule.
Improvements in various areas have contributed to poverty reduction, including nutrition, years of schooling, sanitation and access to clean cooking fuel.
Among states, Uttar Pradesh leads with the largest decline in the number of poor persons, followed by Bihar and Madhya Pradesh.
Improvements are evident in all 12 indicators of the Multidimensional Poverty Index (MPI), including nutrition, child and adolescent mortality, maternal health, education, access to basic amenities and financial inclusion.
About NITI Aayog
Its full name is National Institution for Transforming India, serves as the apex public policy think tank of the Government of India.
Its primary goals are to catalyse economic growth and promote cooperative federalism, involving state governments in the economic policy-making process through a bottom-up approach.
Formed - 1 January 2015
Objective - To promote participation in the economic policy-making process by the state governments of India
Jurisdiction - Government of India
Headquarters - New Delhi
Chairman - Narendra Modi
Founder - National Democratic Alliance
3. India to be world's second largest economy by 2075: Goldman Sachs Research
Tags: Reports
According to the report of Goldman Sachs Research, by the year 2075, India will become the second largest economy in the world after China leaving behind not only Japan and Germany but also America.
An Overview of the news:
- According to the world's important investment bank Goldman Sachs, India has left behind China in terms of population, so its GDP is expected to expand.
- India's current economy: $3.2 trillion
- Presently India's economy ranks in the world: Fifth
- India's economy in the world by 2075: $52.5 trillion (2nd largest)
Currently, the economy of the top countries (in trillions of dollars):
- America: 23.3
- China: 17.7
- Japan: 4.9
- Germany: 4.3
- India: 3.2
- UK: 3.1
Economy of top countries in 2075 (in trillions of dollars):
- China: 57
- India: 52.5
- No. Ra. America: 51.5
- Europe: 30.3
- Japan: 7.5
The main reasons for the reduction of India's dependence on developed countries:
- According to Goldman Sachs Research, India's dependence ratio on the regional economy will be the lowest in the next two decades. Because:
- Helping to grow the economy quickly with talent and workforce.
- Here innovation and increasing labor productivity are quite strong.
- Capital investment will continue to be an important driver of growth in the future as well.
- Decreased dependency ratio on other countries.
- Savings rate expected to rise due to rising incomes and favorable demographics.
4. 4 Indian-origin among 100 richest American women: Forbes
Tags: Reports
In July 2023, 4 Indian-origin women have found a place in America's 100 richest women released by Forbes.
An Overview of the news:
- According to a Forbes report, due to the boom in the stock market, the wealth of these 100 women has reached a record $ 124 billion, which is about 12% more than a year ago.
Women on top of Forbes list:
- Diane Hendrix, co-founder of ABC Supply, one of the largest wholesale distributors of Roofing, Siding and Windows in the US. She holds the top spot with a net worth of $15 billion.
- Musician Rihanna is in second place with a net worth of $1.4 billion.
- This year's list includes eight people, including television producer Shonda Rhimes and Insitro CEO Daphne Koller.
- Four Indian-origin women have made it to the Forbes list of 100 richest American women who are 'self-made'. The total assets of these four women are $ 4.06 billion.
The order of the four Indian women in the list:
- Jayshree Ullal (15th position): President and CEO of computer networking firm Arista Networks, with a net worth of $2.4 billion. Ullal is also on the board of directors of cloud computing company Snowflake.
- Neerja Sethi (25th rank): IT consulting and outsourcing firm Synte, Sethi has a net worth of $990 million.
- Neha Narkhede (ranked 50): CTO and co-founder of cloud company Confluent. Narkhede's net worth is $520 million.
- Indra Nooyi (77th position): Former PepsiCo chairperson, with a net worth of $350 million.
5. Water level in 75% reservoirs in India less than 40% of their capacity: CWC data
Tags: Reports
Recent data from the Central Water Commission (CWC) reveals that 110 out of the 146 monitored reservoirs have water levels at or below 40% of their total capacities.
An Overview of the news
Based on data from the India Meteorological Department (IMD), the following observations have been made:
Around 33% of the 717 districts with available data have experienced deficient rainfall till July 4, while for an additional 10% of districts, the situation is even worse.
As of June 30, the water levels in reservoirs across 10 states are lower than their respective 30-year average levels.
The deficiency in water levels ranges from 11% to 80% in states such as Bihar, West Bengal, Odisha, Jharkhand, Uttar Pradesh, Uttarakhand, Kerala, Karnataka, Tripura, and Nagaland.
However, it is worth noting that the current water levels are comparatively better than the average levels observed over the past 10 years.
About Central Water Commission:
The organization is a prestigious technical institution in India that specializes in the field of water resources.
Currently, it operates as an attached office of the Ministry of Jal Shakti, which falls under the Department of Water Resources, River Development, and Ganga Rejuvenation of the Government of India.
Headed by a Chairman, with the status of Ex-Officio Secretary to the Government of India.
Functions of Central Water Commission:
General responsibilities of initiating, coordinating and furthering in consultation of the State Governments concerned, schemes for control, conservation and utilization of water resources throughout the country, for the purpose of Flood Control, Irrigation, Navigation, Drinking Water Supply and Water Power Development.
The Commission is responsible for conducting investigations, as well as overseeing the construction and execution of various schemes as needed.
The Commission's work is organized into three wings: Designs and Research (D&R) Wing, River Management (RM) Wing, and Water Planning and Projects (WP&P) Wing.
Each wing is headed by a full-time Member who holds the position of Ex-Officio Additional Secretary to the Government of India.
6. India ranks 67th on WEF's Energy Transition Index
Tags: Reports
On 28 June, the World Economic Forum (WEF) published a report titled 'Fostering Effective Energy Transition 2023' which ranked 120 countries on the basis of energy transition.
An Overview of the news:
India in ETI Report:
- In this ranking, WEF has placed India at 67th position (a jump of 20 places) globally in the Energy Transition Index (ETI). Because in the year 2021, India was at 87th position among 115 countries.
- According to WEF, India is the only major economy where the pace of energy transition is accelerating in all dimensions.
- Despite sustained economic growth, India has successfully reduced the energy intensity of its economy and the carbon intensity of its energy mix, achieved universal energy access and managed electricity affordability effectively.
- The ETI benchmarks countries based on the performance of their energy systems and their readiness to secure sustainable energy systems.
- In a report published in collaboration with Accenture, the WEF noted that the global energy transition has stagnated amid the global energy crisis and geopolitical instability, but India is among the countries that have made significant improvements in the energy transition.
- According to ETI the top five countries in the world are Sweden, Denmark, Norway, Finland and Switzerland respectively.
World Economic Forum (WEF):
- Establishment : 1971 in Geneva (Switzerland)
- Headquarters: Cologny, Switzerland
- Founder : Klaus Schwab
- Chairman : Borge Brende
Major reports published by WEF:
- Global Gender Gap Report
- Energy Transition Index (published jointly by Accenture and WEF).
- Global Competitiveness Report
- Global Risk Report
- Global Travel & Tourism Report
- Global Information Technology Report (The report is published by WEF in association with INSEAD and Cornell University).
7. PM Modi becomes most popular leader of the world with 75% approval rating
Tags: Reports
According to the Global Leader Approval Rating report by US-based consulting firm Morning Consult, PM Modi became the most popular leader in the world with an approval rating of 75%.
An Overview of the News
Swiss President Alain Berset is second in the approval rating.
Mexican President Andrés Manuel López Obrador is in third place.
US President Joe Biden ranks 8th in the approval rating.
British Prime Minister Rishi Sunak is ranked 13th among 22 world leaders.
The latest approval ratings are based on data collected from June 7 to 13.
The ratings are calculated using a seven-day moving average of adult residents in each country, with sample sizes varying by country.
Prime Minister Modi has been consistently on top in the previous ratings as well.
Global Leader Approval Rating
This approval rating is based on the data collected from June 14-20, 2023-
1. | Narendra Modi (India) | 76% |
2. | Alain Berset (Switzerland) | 60% |
3. | Andrés Manuel López Obrador (México) | 59% |
4. | Anthony Albanese (Australia) | 54% |
5. | Giorgia Meloni (Italy) | 52% |
6. | Luiz Inácio Lula da Silva (Brazil) | 51% |
7. | Pedro Sánchez (Spain) | 40% |
8. | Joe Biden (U.S.) | 40% |
9. | Justin Trudeau (Canada) | 40% |
10. | Alexander De Croo (Belgium) | 39% |
https://pro.morningconsult.com/trackers/global-leader-approval
8. CBIC releases National Time Release Study 2023 report
Tags: Reports
Vivek Johri, Chairman, Central Board of Indirect Taxes and Customs (CBIC) recently released the National Time Release Study (NTRS) 2023 report.
Highlight of the report
According to the report the average import release time by customs authorities has decreased in 2023 compared to 2022.
The report states that the import release time has declined by 20% for inland container depots (ICDs), 11% for air cargo complexes (ACCs), and 9% for seaports.
In absolute terms, the import release time for seaports is 85.42 hours, for ICDs is 71.46 hours, for ACCs is 44.16 hours, and for integrated check posts (ICPs) is 31.47 hours.
The CBIC has been actively working towards reducing release time by customs for both imports and exports in order to promote ease of doing business and enhance tax collections.
National Time Release Study
The National Time Release Study (NTRS) is a performance measurement tool released by the Central Board of Indirect Taxes and Customs (CBIC).
It aims to provide a quantitative measure of cargo release time.
The NTRS report presents port-category wise average release time for a given year.
It serves as an essential tool for assessing the efficiency and effectiveness of customs procedures and regulations related to cargo clearance.
9. NTPC climbs up 52 positions to 433rd rank in Forbes’ “The Global 2000” List
NTPC Limited, India's largest power generation company, has made significant progress in Forbes' "The Global 2000" List for 2023, climbing 52 positions to reach the 433rd rank.
An overview of the news
This remarkable advancement showcases NTPC's growing influence and presence in the global market.
It is a testament to the company's consistent expansion, strong financial performance, and unwavering commitment to excellence.
"The Global 2000" List compiled by Forbes acknowledges the world's largest companies based on four key metrics: sales, profits, assets, and market value.
NTPC's significant climb in the rankings from the 485th position in 2022 to the 433rd position in 2023 underscores its exceptional performance across these metrics.
In addition to its global ranking, NTPC has also secured the 10th position among the largest Indian companies on the list, moving up one spot compared to the previous year.
About NTPC
NTPC formerly known as National Thermal Power Corporation of India is owned by the Government of India. It was established in 1975.
Vindhyachal Thermal Power Station in Singrauli district of Madhya Pradesh, with an installed capacity of 4,760 MW, is currently the largest thermal power plant in India.
It is a coal based power plant owned and operated by NTPC.
The company had a total installed commercial capacity of 69454 MW before the JPL deal.
Headquarters: New Delhi
Chairman and Managing Director: Gurdeep Singh
10. Reliance climbs eight spots to 45th rank on Forbes' Global 2000 list
Billionaire Mukesh Ambani’s Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes’ latest Global 2000 list of public companies worldwide.
An overview of the news
This achievement marks the highest position for an Indian company on the list.
The Global 2000 ranks public companies worldwide based on sales, profits, assets, and market value.
JPMorgan tops the list
JPMorgan, America's largest bank with $3.7 trillion in assets, has secured the top spot on the Global 2000 list.
This marks its first time at the top since 2011.
The bank's strong performance during the regional banking crisis, coupled with increased deposits and the opportunistic acquisition of the failed First Republic Bank, contributed to its ranking.
Warren Buffett's Berkshire Hathaway, which topped the list in the previous year, fell to the 338th position in the latest ranking.
This decline is attributed to unrealized losses in its investment portfolio.
Saudi Arabia's oil giant, Aramco, holds the second position on the list.
Indian firms on the list
Reliance Industries leads as the highest-ranked Indian company at the 45th spot.
Other notable Indian firms include State Bank of India at 77th, HDFC Bank at 128th, ICICI Bank at 163rd, and Tata Consultancy Services (TCS) at 387th.
A total of 55 Indian companies made it to the Global 2000 list, including Oil and Natural Gas Corporation (ONGC), HDFC, Life Insurance Corporation (LIC), and Tata Steel.
Gautam Adani's conglomerate firms
Three companies from Gautam Adani's conglomerate are included in the list. Adani Enterprises secured the 1062nd position, Adani Power is at 1488th, and Adani Ports & Special Economic Zones is at 1598th.
