Commercial Wing
India Connect
January-February 2022
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SBI’s Union Budget webinar On February 22, Ambassador Sanjeev Singla participated in the webinar on Union Budget 2022-23 organized by the State Bank of India offices in Tel Aviv, Frankfurt, and Antwerp along with representatives from the industry. |
Union Budget 2022-23
On February 1, The Union Budget of 2022-23 was presented by Finance Minister Nirmala Sitharaman. Infrastructure emerged as the topmost priority for the Narendra Modi government as the Budget for 2022-2023 will lay the foundation for economic growth through public investment as Asia's third-largest economy emerges from a pandemic-induced slump.
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Economic Survey 2021-2022
On 31 January, The Union Minister for Finance & Corporate Affairs Nirmala Sitharaman tabled the Economic Survey 2021-22 in Parliament. According to the survey India to witness GDP growth of 8.0-8.5 percent in 2022-23, supported by widespread vaccine coverage, gains from supply-side reforms and easing of regulations, robust export growth, and availability of fiscal space to ramp up capital spending.
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India launches its first digital currency
The Reserve Bank of India will launch its digital currency this year starting April 1, 2022. The launch of a digital rupee will usher in cheaper, more efficient currency management. The Reserve Bank of India has been working on a phased implementation strategy, which could reduce the nation’s high dependency on cash.
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India's renewable energy rise
India set the world's largest expansion plan in renewable energy with the ambitious target to achieve a capacity of 175 GW worth of renewable energy by the end of 2022, which expands to 500 GW by 2030. India’s installed renewable energy capacity has increased 286% in the last 7.5 years and stands at more than 151.4 GW (including large Hydro), which is about 39 percent of the country’s total capacity.
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India to launch sovereign green bonds India will issue sovereign green bonds for funding green infrastructure. The green
bonds are debt instruments that differ from conventional fixed-income securities in that the issuer pledges to use the proceeds to finance projects that are meant to have positive environmental or climate effects. The move is a big boost especially with India making aggressive strides toward a low-carbon economy with ambitious targets like achieving a robust 175 GW of renewable energy capacity by the year 2022. Such targets require massive funding. |
India extend the tax incentives for startups
In relief to startups, Finance Minister Nirmala Sitharaman has announced an extension of one year for the incentives provided to them. Tax incentives for startups increased from three years to four years of incorporation, in view of the pandemic.
India now has more than 61,400 startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). At least 14,000 recognized startups were added in the 2021-22 fiscal year.
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INDIA CARPET EXPO 25-28 March 2022
India Carpet Expo is one of the largest Handmade Carpet Fair in Asia which serves as a unique platform for buyers to source the best of handmade carpets, rugs and other floor coverings under one roof. The fair is organized in New Delhi (March) and Varanasi (October) every year. India Carpet Expo is a B2B event solely focused on overseas buyers.
For more details: http://cepc.co.in/events/india-carpet-expo-delhi-india
Registration: http://cepc.co.in/buyer-registration
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IHGF Delhi Fair 30 March - 3 April 2022
53rd IHGF Delhi Fair 2022 edition presents a comprehensive collection of home, lifestyle, fashion, textiles & furniture products for the season ahead from over 2000+ manufacturers & exporters. To be held at the plush India Expo Centre, Delhi-NCR, India, the IHGF Delhi Fair exhibits over 2000+ new product expressions and more than 300 design developments across 14 product categories. This is a one-stop sourcing destination for retailers, importers, wholesalers, and design professionals.
IHGF Delhi Fair is organized by the Export Promotion Council for Handicrafts (EPCH) facilitates its 10,000+ members to customize and offer unique styles and quality products to the global sourcing community.
For more details: https://www.ihgfdelhifair.in/
Registration: https://www.ihgfdelhifair.in/register
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AAHAR – The International Food & Hospitality Fair 26-30 April 2022
AAHAR - The International Food & Hospitality Fair is a flagship B2B event organized by India Trade Promotion Organization (ITPO), the premier trade promotion body of the Government of India. The 36th edition of the event will be organized from April 26-30, 2022 at the iconic venue of Pragati Maidan (New Delhi). AAHAR is one of Asia's best-known brands in Food & Hospitality shows.
For more details: https://www.indembassyisrael.gov.in/pdf/E-BroucherAAHAR-2022_11032022.pdf
Registration: https://domesticbooking.indiatradefair.com/
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-For comments, suggestions, economic information and business opportunities, please contact the Embassy's Commercial Section:
FS(E&C) - Shri Naveen Ramakrishna
Commercial Wing local team:
-Mr. Tal Ben-Avner, Marketing Officer
-Ms. Nitzan Bitan, Commercial Officer
-Ms. Sharona Shimson, Trade Assistant
[email protected]
https://www.indembassyisrael.gov.in/
https://www.facebook.com/IndiaInIsrael/
For previous editions of India Connect:
https://www.indembassyisrael.gov.in/pages?id=nel5a&subid=mep2b
140 Hayarkon St., P.O.B 3368, Tel-Aviv 61033, T: 03-5291999
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