India Weekly Update from Tom Thomas

India Weekly Update: VOLUME 1/ISSUE 38 - October 8th 2021

· News from Scotland and Beyond

MOODYS UPGRADES INDIA'S OUTLOOK TO STABLE: Highlighting that downside risks are receding, Moodys upgrades India’soutlook from negative to stable.

Coal shortage, rising fuel prices may hit manufacturing activity: The combined impact of domestic coal shortages and rising fuel prices could impact the activities of the manufacturing sector.

No quarantine for fully vaccinated Indians visiting the UK from October 11: Indians fully vaccinated with Covishield or any other UK approved vaccines will not be quarantined when they arrive into the UK after October 11th. This was announced by British High Commissioner to India, Alex Ellis.

Services sector employment rises: A survey by IHS Markit shows the services sector employment rates rising for the first time in ten months.

“The Central Government isencouraging to bring about the ‘electricculture’ in the public transport system” Rajendra Kumar, Transport Department, Karnataka

OFF-BEAT: KARNATAKA SWITCHES TO E-BUSES FORPUBLIC TRANSPORT: The Karnataka State has started procuring and deploying e-buses for public transport with a view to move away from fossil based powered buses and reducing pollution.

Quote-Unquote

“Indian companiescontinued to benefit from arecovery in demand as the pandemic receded furtherand restrictions were lifted. The improved market environment meant that firms managed to securenew work and increase business activity during September,” Pollyanna De Lima, IHS Markit

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