Hello, everyone!
Here are some of the key updates on Indian business and lifestyle as of January 13, 2025.
Let’s dive in!
[Business News]
"Water war brewing: China-India tensions over world’s largest hydropower dam project"
Summary: China’s plan to build a colossal hydropower dam, three times the size of the Three Gorges Dam, downstream on the Yarlung Tsangpo River has heightened tensions with India. India and Bangladesh have voiced concerns about ecological damage and potential disasters caused by reduced water flow. Though China promotes the project as a strategic response to climate change, India views it as a potential "water bomb" and monitors the development closely as a matter of national defense.
Source: Times of India
Insight: The growing water resource competition between China and India is likely to have diplomatic and economic ripple effects, potentially influencing international hydropower projects.
"India’s steel sector set for robust 8-9% growth in 2025"
Summary: India’s steel demand is expected to grow by 8-9% by 2025, driven by the expansion of housing and infrastructure projects. While global steel demand declined in 2024 due to market slowdowns, India recorded an 11% demand increase. Safeguard policies to stabilize steel prices are set to be implemented in 2025.
Source: The Economic Times
Insight: The rising steel demand underscores its critical role in India’s economic growth and manufacturing expansion, signaling the need for strategic adjustments by global players, including South Korean steel manufacturers.
"Signature Global invests Rs 300 crore in Gurugram land for premium housing project"
Summary: Real estate firm Signature Global has acquired 16.12 acres of land in Gurugram for INR 300 crore (~KRW 48 billion) to develop a premium housing project. The project boasts a development potential of 2.7 million square feet and plans to expand to Noida and Greater Noida. The company achieved sales worth INR 7,270 crore last year and aims to reach INR 10,000 crore this year.
Source: The Economic Times
Insight: The growing demand for premium housing among India’s middle and upper classes is fueling the real estate market. Korean construction firms should consider formulating entry strategies for this booming market.
[Lifestyle News]
"Devotees flock to 129-year-old Swami Shivanand at Maha Kumbh 2025"
Summary: Swami Shivanand Saraswati, believed to be 129 years old, attended the Maha Kumbh event in Prayagraj. The Swami, who practices daily meditation and yoga at 3 AM and leads an austere life, attracted hundreds of devotees seeking his blessings.
Source: Times of India
Insight: Traditional Indian religious festivals and the lifestyle of centenarians resonate with global trends promoting mindfulness and healthy living.
"Kolkata overtakes Bengaluru as India’s most congested city"
Summary: According to the 2024 TomTom Traffic Index, Kolkata has been ranked as the second slowest city in the world, with an average speed of 17.4 km/h. Other Indian cities such as Bengaluru and Pune also ranked high in congestion, highlighting challenges posed by rapid urbanization and insufficient infrastructure.
Source: The Economic Times
Insight: There is an urgent need for efficient urban transport planning and the expansion of smart city initiatives to tackle traffic congestion.
"GST exemption on leasehold rights set to boost India’s industrial realty market"
Summary: The Gujarat High Court’s decision to exempt GST on industrial leasehold rights is expected to reduce the tax burden on businesses and real estate developers. This ruling is likely to invigorate industrial and commercial real estate transactions across India.
Source: The Economic Times
Insight: Government tax incentives can significantly stimulate the industrial real estate leasing and development market.
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