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TECHNOLOGY

Apple to completely switch to OLED for iPhone display from 2025, Nikkei says

Key Insights:

• Apple will switch to OLED displays for all iPhone models starting in 2025, moving away from LCDs

• The shift to OLED will significantly impact Japanese companies Sharp Corp and Japan Display, which lack the capacity to produce OLEDs.

• Chinese company BOE Technology and South Korea's LG Display are set to benefit from Apple's transition to OLED

The Story:

Apple's decision to transition to OLED displays for all iPhones by 2025 marks a significant yet delayed shift in its display technology strategy. While many competitors adopted OLED screens years ago for their superior colour accuracy and contrast, Apple continued to rely on LCDs for its lower-end models. This shift underscores Apple's late entry into the full OLED adoption game. China's BOE Technology and South Korea's LG Display stand to benefit greatly from this transition, as they have already begun receiving orders from Apple for OLED panels.

Conversely, the move will substantially impact Japan's Sharp Corp and Japan Display, which once dominated Apple's LCD supply but are now excluded from the OLED-driven future of iPhones. These companies, which held a 70% share of iPhone displays a decade ago, are facing a significant loss in business as they lack the capacity to mass-produce OLEDs. The substantial impact caused due to this would further strain Japan’s already slow-growing economy, given that Sharp Corp and Japan Display are important players in Japan's electronics industry. As Japan's electronics sector struggles, Japanese companies may reduce investments in India, potentially impacting India's efforts to expand its own electronics manufacturing amidst global shifts toward OLED technology.

SPORTS

Avani Lekhara shot for her second gold yesterday; Bhagyashree Jadhav also in action

Key Insights:

• India eyed more medals on Day 6 of the Paralympics 2024 held in Paris.

• In Women’s Shotput F34, Bhagyashree Jadhav competed in the finals.

• In the Women's 50m Rifle 3 position qualifier, Avani Lekhara is in action again.

• India now has 16 medals in total, with 3 gold medals, 5 silver medals, and 8 bronze medals.

The Story:

India is eyeing more medals as Day 6 of the Paris Paralympics 2024 begins. In the Athletics category of Women’s Shotput F34, Bhagyashree Jadhav competes for a podium finish. She was part of the Indian team in the Asian Para Games in Hangzhou, China, in 2022, where she secured a silver medal in the shotput F34 category. In 2021, she won the 'Dr. Pradnya Nitin Joshi Smriti Kritagyata Sanman' award by Galaxy Hospital, Nanded.

In the Shooting category of Women’s 50m Rifle 3 positions, SH1, Avani Lekhara and Mona Agarwal both try to bag a spot in the finals. A. Lekhara previously won a gold on the 2^nd Day in the Women's 10m air rifle standing SH1. Avani Lekhara had become the first Indian woman to win a gold medal at the Paralympics in Japan. She entered the record books after finishing first in the R2 women’s 10m Air Rifle Standing SH1 event. Then 19 years old, Lekhara, who hails from Jaipur in Rajasthan, had registered a world record-equalling total of 249.

BFSI

World Bank raises India growth forecast to 7% for current fiscal year from 6.6%

Key Insights:

• World Bank projects strong growth for India through FY26 and FY27

• Current account deficit expected to stay within 1-1.6% of GDP

• Declining inflation and growth are major factors in reducing extreme poverty in India

The Story:

The World Bank has revised India's growth forecast for FY24-25 to 7%, up from 6.6%, citing the country's strong economic performance, which led it to be the fastest-growing major economy in FY24 with an 8.2% growth rate. Auguste Tano Kouame, the World Bank's Country Director for India, emphasized that India's proactive approach to free trade agreements and strategic policy initiatives drive this growth.

The World Bank expects India's medium-term outlook to remain positive, with continued strong growth through FY26 and FY27. The report highlights the importance of diversifying India's export basket and leveraging global value chains to achieve ambitious export targets, alongside a gradual decline in the debt-to-GDP ratio and a stable current account deficit.

FMCG

Adani’s $1 Bn Feast: Serving up Three tasty Acquisitions

Key Insights:

• Adani Wilmar to invest $1 Bn in strategic acquisitions to expand its FMCG sector presence

• Targeting companies in spices, ready-to-cook foods, and packaged edibles to cater to India’s growing middle-class demand

• With focus on southern and eastern India, aiming to establish a strong foothold in these untapped markets

The Story:

Adani Wilmar is jumping into the FMCG market with a bold $1 billion plan. As more Indians crave quick and easy food options, they’re snapping up brands in spices, ready-to-cook foods, and packaged edibles. However, the mastermind's move in their plan is to diverge into southern and eastern India, where the competition isn’t as strong, but the demand is just as high, allowing them to expand.

Their strategy isn’t just about adding new products. It’s a plan to bulk up their supply chain, take on the big players such as HUL, and carve out a leading spot in the market. By focusing on these fast-growing regions, Adani Wilmar is setting itself up for the long game by staying ahead in India’s wildly expanding FMCG scene.

HEALTHCARE

Govt plans to launch central database for allied healthcare professionals

Key Insights:

• The Indian govt plans to create a central database for allied healthcare professionals to regulate and standardise the sector

• This move is driven by a SC order to fully implement the NCAHP Act 2021 by October 2024

• Certification may face delays due to missing state councils, leading to slow implementation

The Story:

The Indian government plans to launch a central register for allied and healthcare professionals as part of its efforts to implement the National Commission of Allied and Healthcare Professionals (NCAHP) Act 2021.

The NCAHP Act regulates and standardises education and services for allied healthcare professionals, ensuring quality and accountability in India. This initiative, prompted by a Supreme Court directive, aims to regulate and standardise education and services in the allied healthcare sector by creating a comprehensive database of qualified professionals and recognised institutions. The register is intended to address concerns over unregulated institutes offering substandard courses. While the launch is expected soon, the certification process may face delays due to the lack of state councils, which could hinder the full implementation of the NCAHP Act by the October 2024 deadline.

Auto

Mercedes-Benz India expands Sustainability Garage with new Centres of Excellence

Key Insights:

• Mercedes-Benz R&D India establishes two new Centres of Excellence

• T-Hub, the startup incubator, will engage over 500 students aimed at developing climate tech solutions

• Actions aim to achieve the company’s goal of being a global leader in sustainable mobility

The Story:

Mercedes-Benz India has announced the establishment of two new Centres of Excellence in Hyderabad and New Delhi. This includes a Climate Tech Incubator, which will support 25 social enterprises focused on sustainable mobility and environmental innovation. With the Indian government introducing various schemes across the EV chain to incentivise its production, adoption, and usage, Mercedes-Benz is deploying considerable resources to stay ahead of the development curve of the sustainable mobility sector.

Other companies, such as Tata, which intend to capture a considerable market share in the near future, may face possible hinderances to their business growth plans.

Anything Interesting

'Go for gold' as China weighs on other commodities, says Goldman Sachs

Key Insights:

• Goldman Sachs recommends gold as the top investment, predicting a price increase soon

• This increase will be driven by expected interest rate cuts by Fed, attracting more Western capital to the gold market

• They are still cautious about other commodities, expecting only a slight increase in oil price

The Story:

Goldman Sachs suggests investing in gold, projecting a price target of $2,700 per ounce by early 2025. This recommendation stems from gold's status as a hedge against economic uncertainty and potential U.S. rate cuts. In contrast, other commodities like oil and copper are struggling due to weaker Chinese demand and an oversupply in the market. Goldman has revised its forecasts for these commodities, highlighting China's significant influence on global commodity prices. The firm advises a cautious and selective approach to commodity investments, favouring gold for its relative stability and potential for price appreciation.

What it might mean for some sectors:

Investments: Increased gold demand signals a shift away from riskier assets like stocks and bonds, influencing market dynamics and portfolio strategies, especially during times of economic uncertainty.

Currency Stability: As gold demand rises, currencies of gold-rich countries may strengthen, impacting trade balances and economic stability, especially in nations with significant gold reserves.

Mining Sector: Gold miners benefit from higher prices, boosting profitability and encouraging further investment in exploration and extraction, positively impacting jobs and related industries.