Key View: We forecast passenger EV sales growth of 219.9% y-o-y in FY2022 to reach over 45,000 units sold annually. We also highlight that as many non-EV vehicles are in very short supply (due to chip shortages and the prioritisation of EV production), the local EV market is gaining more interest from consumers. Additionally, we note that the

Key View

• On August 8 2022, the Lok Sabha passed the Energy Conservation (Amendment) Bill, a move by the government to adopt a stronger stance on supporting renewables growth. We expect this Bill to be adopted as an effort to achieve 50% non-fossil fuel-based power in its installed capacity mix by 2030.
• As for India's renewables capacity

The Latest: As of June 29 2022, rice planted area in India was 13.3% down from that planted at the same stage in the 2021 crop cycle, primarily due to below-average monsoon rainfall in east and north-east India, where cumulative rainfall during the current monsoon to date is almost 15% below normal levels. The UN FAO All Rice Price Index climbed

Key View

• India is taking steps to position itself as a global hub for medical and wellness tourism.
• The Heal in India initiative aims to boost the country’s standing as a leading destination for medical tourists.
• India’s medical tourism market will continue to facilitate medical tourism from predominantly low-income nations.
• India will seek

Key View

• India’s production-linked incentive scheme will reduce imports by promoting domestic manufacturing of pharmaceuticals.
• The country will remain keen to secure its drugs market from external shocks, lessen import dependencies, and continue support for the domestic production capabilities in APIs.
• Reducing India's dependence on

Key View

• India will remain committed to strengthening the country’s digital health system post-Covid-19.
• The advent of digital health in India will be of strategic importance to pharmaceutical firms.
• Despite the potential, several challenges in digitizing public health will need to addressed.

India will remain committed to

Key View

• Pharmaceutical trade between India and Australia will increase following the bilateral trade agreement signed on April 2 2022.
• Improved market access of Indian medicines in Australia will support Australia’s cost-containment measures which are encouraging the switch to lower-value generic medicines.
• Increased uptake of generic drugs

Key View

• The Reserve Bank of India (RBI) on June 8 raised the benchmark repo rate by 50bps to 4.90%, and we at Fitch Solutions now expect a further 110bps worth of hikes to materialise before the end of FY2022/23 (April-March).
• Inflation is set to remain above the 6.0% ceiling of the RBI’s target for several more months, and the economy’s

Key View:

• At Fitch Solutions, we maintain our forecast for India’s rice production in 2022/23 and expect output to increase 0.2% y-o-y to 129.3mn tonnes, the country’s seventh successive record rice crop.
• Our view is that India is unlikely to impose trade restrictions on rice while domestic prices remain subdued and stockpiles are high, the