India [New] The online shopping market in Asia-Pacific is predicted to be worth US $ 45.9 billion by 2027, with growth led by countries like Australia, India and South Korea. [New] Now that India, the European Union, and the United States seem to have settled on banning Chinese tech products, other countries with active disputes against China could see that as their cue to follow suit at the next opportunity. [New] Big polluting countries, like China, the United States and India, need to become carbon neutral, adding no heat-trapping gas to the atmosphere, by 2050. [New] Coal peaked in 2014, and coal use in 2050 will be less than a third of current levels, despite the rise for coal demand in India and a flattening of coal use in China. [New] OPEC has cut its forecast for crude oil demand growth in 2020, citing a weaker-than-expected recovery in India and other Asian countries, and warned risks remain elevated and skewed to the downside for the first half of next year. [New] India has the world's second-largest road network, and with the current rate of growth, the total number of vehicles is projected to double by 2030. [New] Coal India has a production target of 1 billion tonnes by Indian fiscal year (April-March) 2023-24, up from 607 million tonnes in 2018-19. [New] The Indian government has been promoting use of electric vehicles (EVs) in India with a goal of reaching 30% EV penetration by 2030. [New] Led by countries such as Australia, India, and South Korea, the extruded plastics market in Asia-Pacific is forecast to reach US$ 35.2 Billion by the year 2027, while Latin America will expand at a 5% CAGR through the analysis period. In India, where lockdowns have stalled consumer and business spending, GDP contracted by a record 23.9% in the first quarter of its fiscal year and is forecast to shrink 9% in FY2020 before recovering by 8% in FY2021. Opec has cut its forecast for the global oil market for the year, amid faltering demand and a weaker-than-expected recovery in India and other Asian countries. Falling costs and renewable-friendly energy policies adopted by several countries in the six major geographies - North America, Latin America, Europe, the Middle East, China and India - are prominent reasons why solar photovoltaic and wind capacity projects are expected to climb this decade. The number of elderly in India is expected to grow to 173 million by 2026, which is roughly, 18 crore by the next seven years. By 2022, whilst India aims to create a resource pool of 500 million skilled workers, it will likely surpass Germany to become the fourth largest economy trailing only the United States, China and Japan. India is expected to account for a large share of the growth in emerging Asian demand, with LNG imports forecast to almost double from 23 million tonnes in 2019 to 40 million tonnes in 2025. India has ambitious plans to increase crude steel production capacity from 142 million tonnes in 2018-19 to 300 million tonnes per year by Indian fiscal year 2030-31. In emerging economies such as India, China and Africa, travel needs will increase proportionately to the growth of middle class and their discretionary spending. While most of major economies are staring at economic mayhem and severe recession with projections of negative growth in 2020, IMF projects a positive growth for India in 2020 and 7.4% in 2021. Trend point: The e-commerce market in India is expected to increase at a CAGR of 20.09% from US$ 39 billion in the end of 2017 to US$ 200 billion by 2027. The development of the dairy industry in countries like India and China is expected to fuel the growth of the synbiotic market in the coming years. India is expected to achieve the fastest energy consumption growth rate to fulfil economic growth objectives. China and India alone are expected to account for more than half of global energy demand growth between now and 2040 and their respective energy pathways will have a significant impact on the overall energy landscape and the pace of decarbonisation. See full forecast Last updated: 27 September 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
