World Information

INDIAN DEFENCE MANUFACTURING   The Indian defence manufacturing industry is a significant sector for the economy. The industry is likely to accelerate with rising concerns of national security. Demand for defence equipment in India has been growing due to the ongoing territorial disputes with Pakistan and China over the ownership of the Northern State of Kashmir and the North Eastern State of Arunachal Pradesh, respectively.   Over the last five years, India has been ranked among the top importers of defence equipment to gain technological advantages over rival countries such as China and Pakistan. To modernise its armed forces and reduce dependency over external dependence for defence procurement, several initiatives have been taken by the government to encou

  INSURANCE INDUSTRY   The insurance industry of India has 57 insurance companies 24 are in the life insurance business, while 34 are non-life insurers. Among the life insurers, Life Insurance Corporation (LIC) is the sole public sector company. There are six public sector insurers in the non-life insurance segment. In addition to these, there is a sole national re-insurer, namely General Insurance Corporation of India (GIC Re). Other stakeholders in the Indian Insurance market include agents (individual and corporate), brokers, surveyors and third-party administrators servicing health insurance claims.   In India, the overall market size of the insurance sector is expected to US$ 280 billion in 2020. The life insurance industry is

Retail Sector in India   Indian retail industry is one of the fastest growing in the world. As per Forrester Research, in 2020, India's retail sector was estimated at US$ 883 billion, with grocery retail accounting for US$ 608 billion. The market is projected to reach US$ 1.3 trillion by 2024. The retail sector includes any business or individual involved with selling products directly to consumers. The retail sector includes shops, department stores, supermarkets, market stalls, door-to-door sales people and internet retailers. Retail stores are an important part of high streets and town centers. Indian retail industry has emerged as one of the most dynamic and fast-paced industrie

OIL AND GAS SECTOR IN INDIA Oil and gas sector is among the eight core industries in India and plays a major role in influencing decision making for all the other important sections of the economy.   India’s economic growth is closely related to its energy demand; therefore, the need for oil and gas is projected to grow more, thereby making the sector quite conducive for investment.   The Government has adopted several policies to fulfill the increasing demand. It has allowed 100% Foreign Direct Investment (FDI) in many segments of the sector, including natural gas, petroleum products and refineries among others. Today, it attracts both domestic and foreign investment as attes

AUTOMOBILE COMPONENTS India’s export of auto components increased at a CAGR of 7.6% during FY16-FY20 as the value increased from US$ 10.83 billion in FY16 to US$  14.5 billion in FY20. The Indian auto-components industry has experienced healthy growth over the last few years. The auto-components industry expanded by a CAGR of 6% over FY16 to FY20 to reach US$ 49.3 billion in FY20. The industry is expected to reach US$ 200 billion by FY26.   Due to high development prospects in all segments of the vehicle industry, the auto component sector is expected to rise by double digits in FY22.