At least 20 people were found dead as wildfires rage in Greece, and the temperature in Athens touches 41°c. On the other hand, in Tenerife, more than 12,000 people evacuated as a devastating blaze- which started deliberately engulfs the island.

Wildfires rage in Greece & Spain as soaring temperatures persist

The Indian hotel industry is expected to directly contribute $ 1 trillion to the country’s GDP by 2047, attributed to an&nbsp;increase in domestic tourism and international arrivals, a report said. According to the Hotel Association of India (HAI) and Benori Knowledge report, “Vision 2047: Indian Hotel Industry", the direct GDP contribution of the hotel industry was $40 billion in 2022 and is predicted to increase to $68 billion by 2027.

It also stated that it could reach $1 trillion by 2047. The association for the hotel industry said that, in order for the sector to reach its goal, growth must expand outside of metro areas into second- and third-tier cities as well as rural areas.

The report noted that the total contribution does take into account aspects of services from related business verticals, such as food and beverage and salons and spas, but does not take into account the expansion of the services market, eliminating scenario-based contribution estimations. The report says that variables including GDP growth, rising income levels, a rise in both domestic and international visitor arrivals&nbsp;are attributed to&nbsp;the predicted gain.

Domestic tourist visits are anticipated to rise from 677 million in 2021 to 1.5 billion by 2030 and then further to 15 billion by 2047 in the long term (2037-2047), according to the report. The survey noted that there would be 1.5 million international visitors arriving in India in 2021, 15 million by 2024, 25 million by 2030, and "are further projected to grow attracting 100 million tourists by 2047."

As per the report, all of these variables have opened up new prospects in the tourist and hospitality sectors. Technology, environmental and social sustainability, assistance from policymakers, and macroeconomic variables will all be significant, HAI Secretary General M P Bezbaruah told PTI.&nbsp;

(With inputs from agencies)&nbsp;

WATCH WION LIVE HERE

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The Indian hotel industry is expected to directly contribute $ 1 trillion to the country’s GDP by 2047, attributed to an increase in domestic tourism and international arrivals, a report said.

The Indian hotel industry is expected to directly contribute $ 1 trillion to the country’s GDP by 2047, attributed to an increase in domestic tourism and international arrivals, a report said. According to the Hotel Association of India (HAI) and Benori Knowledge report, “Vision 2047: Indian Hotel Industry", the direct GDP contribution of the hotel industry was $40 billion in 2022 and is predicted to increase to $68 billion by 2027. It also stated that it could reach $1 trillion by 2047. The association for the hotel industry said that, in order for the sector to reach its goal, growth must expand outside of metro areas into second- and third-tier cities as well as rural areas. The report noted that the total contribution does take into account aspects of services from related business verticals, such as food and beverage and salons and spas, but does not take into account the expansion of the services market, eliminating scenario-based contribution estimations. The report says that variables including GDP growth, rising income levels, a rise in both domestic and international visitor arrivals are attributed to the predicted gain. Domestic tourist visits are anticipated to rise from 677 million in 2021 to 1.5 billion by 2030 and then further to 15 billion by 2047 in the long term (2037-2047), according to the report. The survey noted that there would be 1.5 million international visitors arriving in India in 2021, 15 million by 2024, 25 million by 2030, and "are further projected to grow attracting 100 million tourists by 2047." As per the report, all of these variables have opened up new prospects in the tourist and hospitality sectors. Technology, environmental and social sustainability, assistance from policymakers, and macroeconomic variables will all be significant, HAI Secretary General M P Bezbaruah told PTI. (With inputs from agencies) WATCH WION LIVE HERE

Hotel industry projected to contribute $1 trillion to India’s GDP by 2047: Report 

India has made a leap to the 11th position in the ranking of the top direct seller markets with retail sales of $3.23 billion in 2022, according to a report by the international industry association World Federation of Direct Selling Associations (WFDSA).

The report by the WFDSA said that Indian direct selling has seen growth of 5.4 per cent above 2021 retail sales. According to the report, the Indian market experienced the highest Compounded Annual Growth Rate (CAGR) of nearly 13.3 per cent during the previous three years, measured in constant dollars.

The global direct selling market reported a 1.5 per cent fall to $172.89 billion in 2022.

With an overall decline of five&nbsp;per cent from 2021, the US ranked first on the list with $40.52. It was followed by Korea, Germany, China, Japan, and Malaysia.

According to Rajat Banerji, chairman of the India Direct Selling Association (IDSA), “India’s direct selling market is growing steadily and has the potential to place itself in the top five global markets over the next decade.”

He also added that the Consumer Protection (Direct Selling) Rules 202 and its subsequent amendment should bring stability to the Indian direct selling market, which may gather the interest of major international direct selling organisations as well as investors.

“Only three among the top ten (sellers) are in India today and we would like to see all start their business in India,” Rajat added.

IDSA is a self-regulatory body for the direct selling industry in India.

(With inputs form agencies)

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India has made a leap to the 11th position in the ranking of the top direct seller markets with retail sales of $3.23 billion in 2022, according to a report by the international industry association World Federation of Direct Selling Associations (WFDSA).

India has made a leap to the 11th position in the ranking of the top direct seller markets with retail sales of $3.23 billion in 2022, according to a report by the international industry association World Federation of Direct Selling Associations (WFDSA). The report by the WFDSA said that Indian direct selling has seen growth of 5.4 per cent above 2021 retail sales. According to the report, the Indian market experienced the highest Compounded Annual Growth Rate (CAGR) of nearly 13.3 per cent during the previous three years, measured in constant dollars. The global direct selling market reported a 1.5 per cent fall to $172.89 billion in 2022. With an overall decline of five per cent from 2021, the US ranked first on the list with $40.52. It was followed by Korea, Germany, China, Japan, and Malaysia. According to Rajat Banerji, chairman of the India Direct Selling Association (IDSA), “India’s direct selling market is growing steadily and has the potential to place itself in the top five global markets over the next decade.” He also added that the Consumer Protection (Direct Selling) Rules 202 and its subsequent amendment should bring stability to the Indian direct selling market, which may gather the interest of major international direct selling organisations as well as investors. “Only three among the top ten (sellers) are in India today and we would like to see all start their business in India,” Rajat added. IDSA is a self-regulatory body for the direct selling industry in India. (With inputs form agencies) WATCH WION LIVE HERE

India moves up to 11th position in global direct selling ranking: Report

The BRICS nations consisting of Brazil, Russia, India, China and South Africa, are gathered in South Africa for a summit that carries the potential to define the bloc's future and its determination to challenge a world order it views as tilted in favour of the West. While these nations have never been more prominent on the world stage, the inner workings of BRICS remain complex. This family sure has issues. &nbsp;

The summit is missing Russian President Vladimir Putin, as South Africa faces potential obligations to detain him over alleged war crimes in Ukraine. India and China, both members of the group, are dealing with a border conflict.&nbsp;China finds itself in a complicated relationship with the US, while New Delhi maintains close bonds with Washington.&nbsp;

This year's summit is a big test for Indian diplomacy as two predominant themes taking centre stage are the urge for expansion and a drive towards adopting a shared currency, both of which present challenges for India.&nbsp;

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Indian PM Narendra Modi during his initial involvement in Johannesburg, took part in the Leaders' Dialogue of the BRICS Business Forum

As the bloc seeks to rebalance global power, experts warn that it may adopt a more pronounced geopolitical stance, especially with China and Russia hoping to garner its support amid escalating tensions with the West - a prospect that could be advanced through its expansion.&nbsp;

There are conjectures that China and Russia are keen to welcome new members who would introduce an anti-Western perspective. Concerns also exist that the bloc's expansion could draw in nations that perceive BRICS as a counterforce to the European Union and the United States, which India and Brazil both oppose. But is that indeed the scenario?&nbsp;

"China will not project BRICS as anti-Western because China is delicately calibrating its relations with the US in the wake of domestic economic challenges, though Russia surely has a direct interest in forming an anti-Western grouping,” Dr Geeta Kochhar, Assistant Professor, Centre for Chinese and South East Asian Studies, Jawaharlal Nehru University 
(JNU) told WION. &nbsp;

“China also seems to be the counterbalance Russia faces amidst the Russia-Ukraine war, and hence would not want to directly upset the West to avoid any sanctions from the Western world.” &nbsp;

Additionally, India also cannot prevent countries backed by China and Russia, like Iran, from joining the bloc, as India and Iran have the Chabahar port factor in the equation, Dr Kochhar explains.&nbsp;

The Chabahar port is situated along the Makran coastline in the Sistan and Baluchistan Province, adjacent to the Gulf of Oman and positioned at the entrance of the Strait of Hormuz. It stands as Iran's sole port offering a direct route to the Indian Ocean.

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Chabahar Port is a seaport in Chabahar located in southeastern Iran, on the Gulf of Oman

The primary and most crucial importance of the Chabahar port lies in enabling India to circumvent Pakistan when shipping goods to Afghanistan.&nbsp;It would also&nbsp;cut transport costs and time for Indian goods by a third.

Also read |&nbsp;<a href="https://www.wionews.com/world/where-is-xi-jinping-chinese-leaders-unusual-absence-at-brics-business-forum-raises-eyebrows-628067">Where is Xi Jinping?&nbsp;Chinese leader's unusual absence&nbsp;at BRICS Business Forum raises eyebrows</a>

<h2>What is India’s stance?&nbsp;</h2>

In the complex world of geopolitics, India's current strategic choices are anything but straightforward. The question that looms large is where India truly fits into the ever-evolving global geopolitical puzzle. Some Western perspectives tend to scrutinise India's participation in groups like BRICS and the SCO, especially in light of the Ukraine conflict and the Western-Russia standoff. &nbsp;

A frequently raised question is: Is it feasible for India to actively engage in the Quad, which includes Australia, Japan, the US, and India, while concurrently maintaining its significance within the G-20, G-7, BRICS, SCO, and the broader global South?&nbsp;

“India is talking the rhetoric of multipolarity, but what multipolarity are we talking about?,” questioned Dr Manish Dabhade, founder, The Indian Futures, a New Delhi based independent think tank. &nbsp;

"India is certainly contesting Chinese unipolarity in Asia and the Indo-Pacific. That's precisely why India opposes the BRICS currency; it's not inclined towards even regional trading currencies. There's also an economic rationale behind this stance,” he told WION. &nbsp;

Currently, over 50 per cent of all global transactions are conducted in US dollars, while the Chinese&nbsp;Renminbi (RMB) accounts for just 3-4 per cent, and at most, it might increase to 4-5 per cent, which is a marginal shift, he pointed out. “The notion propagated by BRICS that they are de-dollarising the global economy is unlikely to materialise, at least not in the next 10-20 years.”&nbsp;

India is speaking the language of multilateralism, but it has largely chosen its side. The broader trajectory is shifting towards a closer alignment with the West, encompassing the US, Europe, and France, added Dabhade. India has also been contesting all of China's unfair trade practices, including its withdrawal from RCEP and China's inundation of Indian markets with their goods. However, primarily, it was about strategically countering China, he said. &nbsp;

There is an international climate now that is openly against China due to its expansionist agenda in Asia and the Indo-Pacific. This is the reason for the resounding calls to de-risk and decouple from China.&nbsp;

Follow the live blog for all latest updates on the 2023 BRICS summit:&nbsp;<a href="https://www.wionews.com/world/brics-summit-day-2-pm-modi-to-hold-bilateral-meeting-with-sa-prez-ramaphosa-628219">BRICS Summit, Day-2: PM Modi to hold bilateral meeting with SA Prez Ramaphosa</a>

<h2>Non–alignment to multi-alignment?&nbsp;</h2>

<a href="https://www.wionews.com/world/modi-aims-at-expansion-of-indias-upi-to-brics-nations-at-business-forum-meet-628060">India</a> is also walking the tightrope of multi-alignment, as noted by Dr Dabhade, while quoting Indian politician Shashi Tharoor. &nbsp;

“Somewhere, in some places, we are going to be with RIC (Russia, India, China trilateral) or even BRICS. However, India is also a part of the QUAD and has close bilateral relations with the US and France at the highest levels. But the larger eggs are in the American basket. India cannot simply walk out of BRICS because it still depends on Russian defence imports,” explained Dr Dabhade.&nbsp;

The contemporary geopolitical puzzle confronting New Delhi is far from a walk in the park: it involves India's need to establish a strong presence in non-Western global platforms like BRICS and the SCO, counterbalancing the ever-expanding influence of China within these arenas, and simultaneously juggling Western normative standards while carving out a space for itself in Eurocentric gatherings like the UNSC and the G-7. &nbsp;

All of this demands a delicate and multitasking approach, which Dr Kochhar likes to term "matured diplomacy". Additionally, India cannot antagonise anyone in a year when it’s hosting the G20 summit.&nbsp;

&nbsp;

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The BRICS nations consisting of Brazil, Russia, India, China and South Africa, are gathered in South Africa for a summit that carries the potential to define the bloc's future and its determination to challenge a world order it views as tilted in favour of the West.

The BRICS nations consisting of Brazil, Russia, India, China and South Africa, are gathered in South Africa for a summit that carries the potential to define the bloc's future and its determination to challenge a world order it views as tilted in favour of the West. While these nations have never been more prominent on the world stage, the inner workings of BRICS remain complex. This family sure has issues. The summit is missing Russian President Vladimir Putin, as South Africa faces potential obligations to detain him over alleged war crimes in Ukraine. India and China, both members of the group, are dealing with a border conflict. China finds itself in a complicated relationship with the US, while New Delhi maintains close bonds with Washington. This year's summit is a big test for Indian diplomacy as two predominant themes taking centre stage are the urge for expansion and a drive towards adopting a shared currency, both of which present challenges for India. Indian PM Narendra Modi during his initial involvement in Johannesburg, took part in the Leaders' Dialogue of the BRICS Business Forum As the bloc seeks to rebalance global power, experts warn that it may adopt a more pronounced geopolitical stance, especially with China and Russia hoping to garner its support amid escalating tensions with the West - a prospect that could be advanced through its expansion. There are conjectures that China and Russia are keen to welcome new members who would introduce an anti-Western perspective. Concerns also exist that the bloc's expansion could draw in nations that perceive BRICS as a counterforce to the European Union and the United States, which India and Brazil both oppose. But is that indeed the scenario? "China will not project BRICS as anti-Western because China is delicately calibrating its relations with the US in the wake of domestic economic challenges, though Russia surely has a direct interest in forming an anti-Western grouping,” Dr Geeta Kochhar, Assistant Professor, Centre for Chinese and South East Asian Studies, Jawaharlal Nehru University (JNU) told WION. “China also seems to be the counterbalance Russia faces amidst the Russia-Ukraine war, and hence would not want to directly upset the West to avoid any sanctions from the Western world.” Additionally, India also cannot prevent countries backed by China and Russia, like Iran, from joining the bloc, as India and Iran have the Chabahar port factor in the equation, Dr Kochhar explains. The Chabahar port is situated along the Makran coastline in the Sistan and Baluchistan Province, adjacent to the Gulf of Oman and positioned at the entrance of the Strait of Hormuz. It stands as Iran's sole port offering a direct route to the Indian Ocean. Chabahar Port is a seaport in Chabahar located in southeastern Iran, on the Gulf of Oman The primary and most crucial importance of the Chabahar port lies in enabling India to circumvent Pakistan when shipping goods to Afghanistan. It would also cut transport costs and time for Indian goods by a third. Also read | Where is Xi Jinping? Chinese leader's unusual absence at BRICS Business Forum raises eyebrows What is India’s stance? In the complex world of geopolitics, India's current strategic choices are anything but straightforward. The question that looms large is where India truly fits into the ever-evolving global geopolitical puzzle. Some Western perspectives tend to scrutinise India's participation in groups like BRICS and the SCO, especially in light of the Ukraine conflict and the Western-Russia standoff. A frequently raised question is: Is it feasible for India to actively engage in the Quad, which includes Australia, Japan, the US, and India, while concurrently maintaining its significance within the G-20, G-7, BRICS, SCO, and the broader global South? “India is talking the rhetoric of multipolarity, but what multipolarity are we talking about?,” questioned Dr Manish Dabhade, founder, The Indian Futures, a New Delhi based independent think tank. "India is certainly contesting Chinese unipolarity in Asia and the Indo-Pacific. That's precisely why India opposes the BRICS currency; it's not inclined towards even regional trading currencies. There's also an economic rationale behind this stance,” he told WION. Currently, over 50 per cent of all global transactions are conducted in US dollars, while the Chinese Renminbi (RMB) accounts for just 3-4 per cent, and at most, it might increase to 4-5 per cent, which is a marginal shift, he pointed out. “The notion propagated by BRICS that they are de-dollarising the global economy is unlikely to materialise, at least not in the next 10-20 years.” India is speaking the language of multilateralism, but it has largely chosen its side. The broader trajectory is shifting towards a closer alignment with the West, encompassing the US, Europe, and France, added Dabhade. India has also been contesting all of China's unfair trade practices, including its withdrawal from RCEP and China's inundation of Indian markets with their goods. However, primarily, it was about strategically countering China, he said. There is an international climate now that is openly against China due to its expansionist agenda in Asia and the Indo-Pacific. This is the reason for the resounding calls to de-risk and decouple from China. Follow the live blog for all latest updates on the 2023 BRICS summit: BRICS Summit, Day-2: PM Modi to hold bilateral meeting with SA Prez Ramaphosa Non–alignment to multi-alignment? India is also walking the tightrope of multi-alignment, as noted by Dr Dabhade, while quoting Indian politician Shashi Tharoor. “Somewhere, in some places, we are going to be with RIC (Russia, India, China trilateral) or even BRICS. However, India is also a part of the QUAD and has close bilateral relations with the US and France at the highest levels. But the larger eggs are in the American basket. India cannot simply walk out of BRICS because it still depends on Russian defence imports,” explained Dr Dabhade. The contemporary geopolitical puzzle confronting New Delhi is far from a walk in the park: it involves India's need to establish a strong presence in non-Western global platforms like BRICS and the SCO, counterbalancing the ever-expanding influence of China within these arenas, and simultaneously juggling Western normative standards while carving out a space for itself in Eurocentric gatherings like the UNSC and the G-7. All of this demands a delicate and multitasking approach, which Dr Kochhar likes to term "matured diplomacy". Additionally, India cannot antagonise anyone in a year when it’s hosting the G20 summit. WATCH WION LIVE HERE:

Explained: Balancing act or anti-West pivot? India’s choices at the BRICS summit

Presently, India hopes to win this week’s space race by being the first country to set foot on the moon’s south pole. The race is about science, politics of national pride, and a brand-new frontier: money.

India’s Chandrayaan-3 is scheduled to touch down on the lunar south pole on Wednesday. Analysts and businesspeople anticipate a quick boost for the nation’s fledgling space industry if it is successful.

Before the lander plummeted from orbit and likely took with it the financing for a replacement mission, observers say, Russia’s Luna-25, which was launched less than two weeks ago, had been on pace to arrive first.

The unexpected race to reach a previously undiscovered area of the moon brings to mind the space race between the US and the USSR in the 1960s.

But now that space travel is a lucrative industry, the moon’s south pole is prized for the water ice that scientists believe could one day support a lunar colony, mining operations, and eventually journeys to Mars.

With the help of Prime Minister Narendra Modi, India has privatised space launches and is attempting to attract international investment as it aims to grow its market share in the launch industry five-fold over the course of the next ten years.

Analysts predict that India’s space industry will benefit from its reputation for cost-effective engineering if Chandrayaan-3 is a success. Only about $74 million was allocated by the Indian Space Research Organisation (ISRO) for the project.

The inspector general of the US space agency has calculated that NASA is on schedule to spend nearly $93 billion on its Artemis lunar plan through 2025.

“The moment this mission is successful, it raises the profile of everyone associated with it,” said Ajey Lele, a consultant with the Manohar Parrikar Institute for Defence Studies and Analyses in New Delhi.

Russia’s setback &nbsp;

Russia was able to launch a moonshot despite sanctions from the West over its involvement in the Ukraine War and growing isolation. However, some authorities question its capacity to support a Luna-25 replacement. The amount Russia spent on the expedition is unknown.

According to Moscow-based author and independent space specialist Vadim Lukashevich, the exploration costs are consistently decreasing annually.

A replication of Luna-25 is “extremely unlikely” given Russia’s budget priorities, he continued.

Prior to 2021, when it said it would collaborate with China on its moon plan, Russia had been considering a position in NASA’s Artemis programme. Little data about the attempt has been made public.

2019 saw China’s first-ever soft landing on the moon’s far side, while the country has additional missions in progress. According to space research company Euroconsult, China will invest $12 billion in its space project in 2022.

NASA’s strategy guide&nbsp;

According to officials, NASA has provided the blueprint that India is using by opening up to private funding.

For instance, SpaceX, run by Elon Musk, is creating the Starship rocket to carry NASA’s astronauts to the moon’s surface as part of a $3 billion contract.

In addition to that contract, Musk has stated that SpaceX will invest about $2 billion in Starship this year.

By the end of the year, or in 2024, lunar landers being constructed by the American space companies Astrobotic and Intuitive Machines (LUNR.O) are anticipated to be sent to the moon’s south pole.

Additionally, privately funded alternatives to the International Space Station are being created by businesses like Axiom Space and Jeff Bezos’ Blue Origin. Axiom reported raising $350 million from Saudi and South Korean investors on Monday.

Space is still risky. India’s most recent moon mission failed in 2019, the same year an Israeli startup’s bid to make history by becoming the first privately funded moon mission also failed.

(With inputs from Reuters)

&nbsp;

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Presently, India hopes to win this week’s space race by being the first country to set foot on the moon’s south pole. The race is about science, politics of national pride, and a brand-new frontier: money.

Presently, India hopes to win this week’s space race by being the first country to set foot on the moon’s south pole. The race is about science, politics of national pride, and a brand-new frontier: money. India’s Chandrayaan-3 is scheduled to touch down on the lunar south pole on Wednesday. Analysts and businesspeople anticipate a quick boost for the nation’s fledgling space industry if it is successful. Before the lander plummeted from orbit and likely took with it the financing for a replacement mission, observers say, Russia’s Luna-25, which was launched less than two weeks ago, had been on pace to arrive first. The unexpected race to reach a previously undiscovered area of the moon brings to mind the space race between the US and the USSR in the 1960s. But now that space travel is a lucrative industry, the moon’s south pole is prized for the water ice that scientists believe could one day support a lunar colony, mining operations, and eventually journeys to Mars. With the help of Prime Minister Narendra Modi, India has privatised space launches and is attempting to attract international investment as it aims to grow its market share in the launch industry five-fold over the course of the next ten years. Analysts predict that India’s space industry will benefit from its reputation for cost-effective engineering if Chandrayaan-3 is a success. Only about $74 million was allocated by the Indian Space Research Organisation (ISRO) for the project. The inspector general of the US space agency has calculated that NASA is on schedule to spend nearly $93 billion on its Artemis lunar plan through 2025. “The moment this mission is successful, it raises the profile of everyone associated with it,” said Ajey Lele, a consultant with the Manohar Parrikar Institute for Defence Studies and Analyses in New Delhi. Russia’s setback Russia was able to launch a moonshot despite sanctions from the West over its involvement in the Ukraine War and growing isolation. However, some authorities question its capacity to support a Luna-25 replacement. The amount Russia spent on the expedition is unknown. According to Moscow-based author and independent space specialist Vadim Lukashevich, the exploration costs are consistently decreasing annually. A replication of Luna-25 is “extremely unlikely” given Russia’s budget priorities, he continued. Prior to 2021, when it said it would collaborate with China on its moon plan, Russia had been considering a position in NASA’s Artemis programme. Little data about the attempt has been made public. 2019 saw China’s first-ever soft landing on the moon’s far side, while the country has additional missions in progress. According to space research company Euroconsult, China will invest $12 billion in its space project in 2022. NASA’s strategy guide According to officials, NASA has provided the blueprint that India is using by opening up to private funding. For instance, SpaceX, run by Elon Musk, is creating the Starship rocket to carry NASA’s astronauts to the moon’s surface as part of a $3 billion contract. In addition to that contract, Musk has stated that SpaceX will invest about $2 billion in Starship this year. By the end of the year, or in 2024, lunar landers being constructed by the American space companies Astrobotic and Intuitive Machines (LUNR.O) are anticipated to be sent to the moon’s south pole. Additionally, privately funded alternatives to the International Space Station are being created by businesses like Axiom Space and Jeff Bezos’ Blue Origin. Axiom reported raising $350 million from Saudi and South Korean investors on Monday. Space is still risky. India’s most recent moon mission failed in 2019, the same year an Israeli startup’s bid to make history by becoming the first privately funded moon mission also failed. (With inputs from Reuters) WATCH WION LIVE HERE

How the money is influencing a new space race with India’s boom and Russia’s crunch 

In this space competition, India hopes to win this week by landing first on the Moon's South Pole is not just about science and status but about money as well India is opening its space sector to foreign investment to increase its share. To know more watch this interview with the Senior Analyst of the Australian Strategic Policy Institute, Dr Malcolm Davis.

The world watches as India's Chandrayaan-3 attempts to land on moon

India’s restricitve trade policies&nbsp;with custom duties as high as 22 per cent may have&nbsp;given Vietnam the upper hand for manufacturing smart phones, and other electronics, reports suggest.

The glass cover, the touch-screen display, the camera module, and the printed circuit board assembly, when combined, makes about 75 per cent of a smart phone’s bill-of-materials price. Vietnam, the world’s second-largest handset exporter after China, is able to source components with zero-tariff from trade partners.

In contrast, despite its eagerness to promote local smart phone manufacture, India has a four per cent cost disadvantage, according to the 2023 edition of a price comparison research published by the industry association India Cellular &amp; Electronics Association (ICEA).

India has intentionally increased the burden on assemblers even as it started compensating them for the various cost disadvantages that already exist, namely inadequate infrastructure and excessive regulations.

The existence of production-linked incentives, or PLIs, guarantees to pay businesses up to 4 per cent to 6 per cent of their additional sales for a period of five years. But the report suggests that India is hampering its ability to compete, while it pays companies to locate its plants there.

Another opinion holds that the assistance is “supported through indirect revenue from increased indirect taxes from the same sector,” as the ICEA study states.

Competition elsewhere in Asia and is focused on semiconductors. Several nations, ranging from Thailand to Singapore and Malaysia, are currently looking to move the manufacturing of front-end chips from East to Southeast and South Asia. India is attempting to climb that ladder through testing and packaging. While those intentions have yet to materialise, the nation is now Vietnam’s next competitor in a low-value-added activity like assembly electronics parts because to its affordable labour.

Multinational companies have altered their manufacturing plans after the pandemic and President Xi Jinping’s deteriorating relations with the West. Only a few weeks after they begin shipping from Chinese manufacturing, the Foxconn Technology Group plant in the southern Indian state of Tamil Nadu is getting ready to export iPhone 15s, according to a report by Bloomberg News.

Apple Inc. and other companies are wary of placing an undue reliance on China to meet global demand. India now has an opportunity to take over the supply chain as a result of their pursuit of a China+1 strategy. However, due to Samsung Electronics Co., Vietnam’s phone exports increased by six times last year compared to other South Asian countries. This is the difference that New Delhi seeks to bridge.

However, data from the ICEA revealed that India’s total cost disadvantage due to tariffs on smart phone components came to around 3.6 per cent in comparison to the cost gap with Vietnam. This competitive disadvantage may increase to a near 4 per cent. This could possibly prompt multinational companies to look for alternative manufacturing locations in countries like Vietnam, potentially making it a huge competitor to India.

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India’s restricitve trade policies with custom duties as high as 22 per cent may have given Vietnam the upper hand for manufacturing smart phones, and other electronics, reports suggest.

India’s restricitve trade policies with custom duties as high as 22 per cent may have given Vietnam the upper hand for manufacturing smart phones, and other electronics, reports suggest. The glass cover, the touch-screen display, the camera module, and the printed circuit board assembly, when combined, makes about 75 per cent of a smart phone’s bill-of-materials price. Vietnam, the world’s second-largest handset exporter after China, is able to source components with zero-tariff from trade partners. In contrast, despite its eagerness to promote local smart phone manufacture, India has a four per cent cost disadvantage, according to the 2023 edition of a price comparison research published by the industry association India Cellular & Electronics Association (ICEA). India has intentionally increased the burden on assemblers even as it started compensating them for the various cost disadvantages that already exist, namely inadequate infrastructure and excessive regulations. The existence of production-linked incentives, or PLIs, guarantees to pay businesses up to 4 per cent to 6 per cent of their additional sales for a period of five years. But the report suggests that India is hampering its ability to compete, while it pays companies to locate its plants there. Another opinion holds that the assistance is “supported through indirect revenue from increased indirect taxes from the same sector,” as the ICEA study states. Competition elsewhere in Asia and is focused on semiconductors. Several nations, ranging from Thailand to Singapore and Malaysia, are currently looking to move the manufacturing of front-end chips from East to Southeast and South Asia. India is attempting to climb that ladder through testing and packaging. While those intentions have yet to materialise, the nation is now Vietnam’s next competitor in a low-value-added activity like assembly electronics parts because to its affordable labour. Multinational companies have altered their manufacturing plans after the pandemic and President Xi Jinping’s deteriorating relations with the West. Only a few weeks after they begin shipping from Chinese manufacturing, the Foxconn Technology Group plant in the southern Indian state of Tamil Nadu is getting ready to export iPhone 15s, according to a report by Bloomberg News. Apple Inc. and other companies are wary of placing an undue reliance on China to meet global demand. India now has an opportunity to take over the supply chain as a result of their pursuit of a China+1 strategy. However, due to Samsung Electronics Co., Vietnam’s phone exports increased by six times last year compared to other South Asian countries. This is the difference that New Delhi seeks to bridge. However, data from the ICEA revealed that India’s total cost disadvantage due to tariffs on smart phone components came to around 3.6 per cent in comparison to the cost gap with Vietnam. This competitive disadvantage may increase to a near 4 per cent. This could possibly prompt multinational companies to look for alternative manufacturing locations in countries like Vietnam, potentially making it a huge competitor to India. WATCH WION LIVE HERE

Vietnam likely to benefit more from India’s restrictive trade policy

India's Chandrayaan-3 mission is progressing slowly for a lunar touchdown at 6pm IST on the 23rd of August. However, in case of an anomaly, the landing could be postponed to Sunday the 27th of August. Watch to know what the Moon Man of India who was also the former ISRO Satellite Centre Director Dr Mylswamy Annadurai has to say about the mission.

Dr Mylswamy Annadurai speaks to WION on Chandrayaan-3 landing

Greek Ambassador to India, Dimitrios Ioannou, hailed the upcoming visit of Indian Prime Minister Narendra Modi to Athens on August 25, at the invitation of Greek Prime Minister Kyriakos Mitsotakis. Ioannou emphasized the significance of the visit, noting that the last visit by an Indian Prime Minister to Greece took place 40 years ago.

Greek Ambassador Ioannou welcomes PM Modi's Athens visit, commends India's Mediterranean presence

India's central bank is nudging local banks to ask their clients to settle trade between the United Arab Emirates and India using the Dirham (AED) or Indian rupee (INR) to reduce US-dollar-based transactions, according to sources cited by Reuters.

India central bank nudges banks to settle UAE trades in Rupee, Dirham

India has made its mark, propelling itself to the 11th position in the global rankings. With a 5.4% surge in 2022, this industry has become a beacon of hope for the Indian economy.

India moves up to 11th position in global direct selling ranking

Many people associate a trip to Africa with spotting the big 5 on a Safari, but did you know that India also has incredible potential as a wildlife tourism destination? In the heart of India we unlock the country's astonishing potential as a wildlife tourism haven. Immerse yourself in the diverse ecosystems that shelter incredible species, from regal tigers to majestic elephants. Witness the harmony between nature and culture, and uncover the treasures that make India a must-visit for wildlife enthusiasts.

India's potential as a Wildlife Tourism Destination

India and UAE are taking de-dollarisation seriously. India's central bank RBI is nudging local banks. To settle trade between the UAE and India using either the dirham or the Indian rupee.

De-dollarisation: RBI urges lenders to use Rupee or Dirham in trade with the UAE

Making significant progress towards India's lunar exploration ambitions, Chandrayaan-3 is advancing smoothly and is poised to touch down at the moon's southern pole on August 23rd.

Chandrayaan-3: ISRO aims for the moon, mars and beyond

Chandrayaan-3: India's space mission to usher in discoveries

India China and Russia Brazil and South Africa created the BRICS, one of the world's most important economic blocs. The summit is taking place in Johannesburg, South Africa. South Africa's President Ramaphosa honoured Xi Jinping with South Africa's highest honour 'Order of South Africa'.

BRICS Summit 2023 LIVE: Ramaphosa honours China's Xi Jinping with South Africa's highest honour

The 15th BRICS Summit has kickstarted. Leaders are reachingn Johannesburg. The 15th BRICS Summit is being hosted by South Africa. The eyes, however, will be on two major global powers India & China. As PM Modi and Xi Jinping are likely to meet face-to-face.

BRICS Summit 2023: How are relations between India & China as members of the bloc?

Bijuli Prasad, one of the world's oldest elephants who was brought to India by a British farmer during the colonial era, died at the age of around 89 on Monday (August 21) in the northeastern state of Assam.

Caretakers in Sonitpuri district, where he spent his last days,&nbsp;said the pachyderm died of age-related issues.&nbsp;He breathed his last at the Behali tea estate of The Williamson Magor Group around 3.30 am IST.&nbsp;

Bijuli Prasad was brought to work on a tea estate by a British farmer in the 1940s. &nbsp;

Elephant veterinarian Kushal Konwar Sarma, who cared for Bijuli Prasad in his later years,&nbsp;said: "Domestic elephants live up to 80 years, provided they are taken care of well."

&nbsp;Also read:&nbsp;<a href="https://www.wionews.com/trending/thieves-fix-muhurat-with-help-of-astrologer-to-loot-a-realtors-house-superstition-lands-them-in-jail-627888">Thieves fix 'muhurat' with help of astrologer to loot a realtor’s house, superstition lands them in jail</a>&nbsp;

"All the teeth of the elephant fell out due to age and it could not eat. I changed the diet and asked the caretakers to give him boiled food - mostly rice and soybean with a high protein value," AFP news agency quoted him as saying.&nbsp;

Animal lovers and others who were associated with Bijuli Prasad gathered to mourn his death.

As quoted by media outlets, an official of the tea garden said: "Bijuli Prasad was a symbol of pride for The Williamson Magor Group."&nbsp;

"It was first brought to the Bargang tea estate as a calf, and later shifted here after the Bargang tea estate was sold off by the company," the official added.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/india-news/kashmirs-tulip-garden-listed-as-asias-largest-by-world-book-of-records-627868">Kashmir’s tulip garden listed as Asia's largest by World Book of Records</a>

Sarma, who is a Padma Shri awardee and famous elephant surgeon,&nbsp;&nbsp;told PTI, "As far as my knowledge is concerned, Bijuli Prasad was the oldest recorded domestic elephant in India."&nbsp;

He said that the wild Asiatic elephants live up to 62-65 years, while the domestic ones survive till around 80 years with proper care.&nbsp;

An official of the Behali tea estate said that the elephant was offered around 25 kg of food every day.&nbsp;

(With inputs from agencies)

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Bijuli Prasad, one of the world's oldest elephants who was brought to India by a British farmer during the colonial era, died at the age of around 89 on Monday (August 21) in the northeastern state of Assam.

Bijuli Prasad, one of the world's oldest elephants who was brought to India by a British farmer during the colonial era, died at the age of around 89 on Monday (August 21) in the northeastern state of Assam. Caretakers in Sonitpuri district, where he spent his last days, said the pachyderm died of age-related issues. He breathed his last at the Behali tea estate of The Williamson Magor Group around 3.30 am IST. Bijuli Prasad was brought to work on a tea estate by a British farmer in the 1940s. Elephant veterinarian Kushal Konwar Sarma, who cared for Bijuli Prasad in his later years, said: "Domestic elephants live up to 80 years, provided they are taken care of well." Also read: Thieves fix 'muhurat' with help of astrologer to loot a realtor’s house, superstition lands them in jail "All the teeth of the elephant fell out due to age and it could not eat. I changed the diet and asked the caretakers to give him boiled food - mostly rice and soybean with a high protein value," AFP news agency quoted him as saying. Animal lovers and others who were associated with Bijuli Prasad gathered to mourn his death. As quoted by media outlets, an official of the tea garden said: "Bijuli Prasad was a symbol of pride for The Williamson Magor Group." "It was first brought to the Bargang tea estate as a calf, and later shifted here after the Bargang tea estate was sold off by the company," the official added. Also read: Kashmir’s tulip garden listed as Asia's largest by World Book of Records Sarma, who is a Padma Shri awardee and famous elephant surgeon, told PTI, "As far as my knowledge is concerned, Bijuli Prasad was the oldest recorded domestic elephant in India." He said that the wild Asiatic elephants live up to 62-65 years, while the domestic ones survive till around 80 years with proper care. An official of the Behali tea estate said that the elephant was offered around 25 kg of food every day. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Bijuli Prasad: India's oldest domesticated Asiatic elephant, brought by the British, dies aged 89

Chinese Ambassador to South Africa has hinted that Indian PM Narendra Modi and Chinese President Xi Jinping will hold bilateral talks on the sidelines of the BRICS Summit. Their potential meeting would be the first formal meeting since the border clashes in May 2020. It also comes in the backdrop Chinese efforts to expand BRICS grouping. A move that has been resisted by members like India and Brazil. Molly Gambhir brings you a report.

Gravitas | BRICS Summit: PM Modi To Meet Xi Jinping? India, China Border Breakthrough Possible?

Germany's Federal Minister for Digital and Transport Volker Wissin used India's Unified Payments Interface (UPI) to make a payment. The German Embassy in India hailed India's success in digital infrastructure. Why is the West reluctant to take lessons from India? Molly Gambhir tells you more.

Gravitas: German minister buys groceries with UPI | Is US afraid to learn from India?

India China and Russia Brazil and South Africa created the BRICS, one of the world's most important economic blocs. The Summit will take place in Johannesburg, South Africa, and will be attended by heads of state and government seeking to strengthen their influence and encourage a shift in global geopolitics.

BRICS summit in Johannesburg: Meet between PM Modi and Xi on cards? | World News | WION

In a bid to bolster bilateral ties, India's Deputy National Security Advisor, Vikram Misri, met with South Korea's Foreign Minister, Park Jin, emphasising closer relations and potential collaboration in Critical and Emerging Technologies. This sets the stage for the Fourth South Korea-India Strategic Dialogue, scheduled for later on Tuesday (August 22), further solidifying the robust partnership between the two nations.

Also Read | <a href="https://www.wionews.com/world/russian-air-defence-intercepts-and-downs-two-attack-drones-near-moscow-627704">Russian Air Defence intercepts and downs two 'attack drones' near Moscow</a>

During the meeting, both Misri and Park expressed a strong commitment to strengthening their diplomatic and economic bonds. Foreign Minister Park conveyed South Korean President Yoon's eagerness to embark on his India visit in September, where he is scheduled to participate in the G20 Summit.

Also Read | <a href="https://www.wionews.com/world/north-korea-threatens-thermonuclear-war-over-camp-david-summit-and-us-south-korea-drills-627702">North Korea threatens 'thermonuclear war' over Camp David summit and US-South Korea drills</a>

Notably, both sides acknowledged the potential for collaboration in Critical and Emerging Technologies.

This recognition underscores their shared aspiration to harness cutting-edge innovations for mutual benefit. The Deputy NSA-level Strategic Dialogue, set to take place later on Tuesday (August 22), promises to deepen the strategic partnership even further.

South Korea's Principal Deputy National Security Adviser Kim Tae-hyo will engage in discussions with his Indian counterpart, Vikram Misri.

The dialogue, established as a regular forum since a Korea-India summit in 2014, has played a pivotal role in fostering bilateral cooperation. The third session of such talks took place in India in 2021.

Watch | Beijing's fruit diplomacy turns sour as China bans imports of Taiwanese mangoes

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The increased India and South Korea engagement comes in a year that saw South Korea announcing its Indo-Pacific strategy.

The strategy calls for enhancing a special strategic partnership with India and increasing strategic communication and cooperation through high-level exchanges in the areas of foreign affairs and defence.

The policy also calls for strengthening the foundation for enhanced economic cooperation by upgrading the ROK-India Comprehensive Economic Partnership Agreement (CEPA).

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In a bid to bolster bilateral ties, India's Deputy National Security Advisor, Vikram Misri, met with South Korea's Foreign Minister, Park Jin, emphasising closer relations and potential collaboration in Critical and Emerging Technologies.

In a bid to bolster bilateral ties, India's Deputy National Security Advisor, Vikram Misri, met with South Korea's Foreign Minister, Park Jin, emphasising closer relations and potential collaboration in Critical and Emerging Technologies. This sets the stage for the Fourth South Korea-India Strategic Dialogue, scheduled for later on Tuesday (August 22), further solidifying the robust partnership between the two nations. Also Read | Russian Air Defence intercepts and downs two 'attack drones' near Moscow During the meeting, both Misri and Park expressed a strong commitment to strengthening their diplomatic and economic bonds. Foreign Minister Park conveyed South Korean President Yoon's eagerness to embark on his India visit in September, where he is scheduled to participate in the G20 Summit. Also Read | North Korea threatens 'thermonuclear war' over Camp David summit and US-South Korea drills Notably, both sides acknowledged the potential for collaboration in Critical and Emerging Technologies. This recognition underscores their shared aspiration to harness cutting-edge innovations for mutual benefit. The Deputy NSA-level Strategic Dialogue, set to take place later on Tuesday (August 22), promises to deepen the strategic partnership even further. South Korea's Principal Deputy National Security Adviser Kim Tae-hyo will engage in discussions with his Indian counterpart, Vikram Misri. The dialogue, established as a regular forum since a Korea-India summit in 2014, has played a pivotal role in fostering bilateral cooperation. The third session of such talks took place in India in 2021. Watch | Beijing's fruit diplomacy turns sour as China bans imports of Taiwanese mangoes × The increased India and South Korea engagement comes in a year that saw South Korea announcing its Indo-Pacific strategy. The strategy calls for enhancing a special strategic partnership with India and increasing strategic communication and cooperation through high-level exchanges in the areas of foreign affairs and defence. The policy also calls for strengthening the foundation for enhanced economic cooperation by upgrading the ROK-India Comprehensive Economic Partnership Agreement (CEPA). WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. ×

India's deputy NSA Misri, S. Korea FM prioritise critical technologies ahead of key talks

All eyes are on India's Chandrayaan-3. As the spacecraft inches closer to the moon. Since the launch, NASA & ESA have been supporting ISRO.

Chandrayaan-3: The role of NASA & ESA in aiding ISRO during the Moon landing

Inside India's Kasimedu fishing harbour, where women are the true heroes

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