The international monetary fund (IMF) warned about global food inflation in 2023. The consequences of food inflation are shortages of food grains and a ban on rice exports from rice-producing countries, among others.

India is among the world's most extensive rice exporter countries, accounting for around 40 percent of worldwide rice exports, along with Thailand, Vietnam, the United States, and Pakistan. More than half of the rice belongs to non-basmati white rice varieties. According to International Rice Research Institute (IRRI), rice is pivotal in handling malnutrition and hunger-related issues in Southeast Asia. It is the staple food of that region and comprises 48 million hectares of land, equaling 30 percent of the world's rice…

Inflation in the United Kingdom reached 6.8 percent in July 2023 as per the recent Consumer Price Index (CPI) data. The drop in inflation by 4.3 points compared to 2022 indicates the actual data matches the expected economic calculations done by the agencies.

The UK faced a sudden hike in February 2023, but the inflation rates began falling systematically and continuously. With the rate of interest by the Bank of England from 2.25 to 5.25 in September 2022, the rate has been hiked by 3 points to counter inflation. This strategy applied by the Bank of England has helped a lot in controlling the rising inflation to come down efficiently. If recorded monthly, the consumer prices index has fallen by 0.4 percent in July 2023 compared to 0.6…

China’s leading electric vehicles company Build your dreams (BYD) is dominating the electric vehicles’ market with its rising sales in the first half of 2023. The electric vehicles companies in China have reported for 56 percent of the global unit sales.

According to a survey conducted, the global electric vehicle sales have increased by 50 percent year-over-year in the second quarter of 2023.  At the same time, the progress of the Chinese companies globally comes with the scalable benefits in their own land, that makes for 56 percent of the global unit sales in the second quarter of 2023. As per the analysts, BYD is the topmost passenger electric vehicles manufacturer, among the other five companies that sells most of their electric cars…

The growing climate change lays numerous reasons to opt for an energy transition by lowering the need for fossil fuels and shifting the focus to renewable energy. Many countries have aims to achieve net -zero by 2050. Thus, energy transition is an awakening process to fight against climate change in 2023 as different nations take necessary actions against it.

According to recent trends in 2023, the clean energy sector sees progress in the economy in 2023. The investment in clean energy is gaining momentum in 2023 since sustainable development goals (SDGs) have been integrated firmly. As per the recent data, world energy investment in 2023 is anticipated to rise by 7 percent to hit a record of USD 2.8 billion trillion. Even if it is far…

Digital payments are a new way of transforming the economy via online and cashless payments. The world is seeing immense growth in digital payment, and emerging economies like India are developing a new digital ecosystem. The progress in the digital payment field is revolutionizing India digitally.

Based on a survey in 2023, online payment numbers have increased more than 100 times in the last nine years, from 127 crore in 2013-14 to 12,735 crore online payments in 2022-2023. Various factors affect the online pay portals to grow in this period. One of the major factors accelerating the growth of digital payments is the convenient-to-pay portals, such as Bharat Interface for Money-Unified Payments Interface (BHIM-UPI), prepaid payment…

Electric vehicles (EVs) are ruling the automotive industry as the market is seeing exponential progress in 2023. BYD and Tesla dominate the electric vehicle sales worldwide in 2023. Sustainable mechanisms with technology are boosting the growth of electric vehicles. This electrification in the auto industry is set to cut the use of around 5 million barrels of oil per day by 2030.

According to the International Energy Agency (IEA), the worldwide sales of electric cars will surge in 2023 and will be one-fifth of the overall car market in 2023. Electric vehicles are bringing many changes to the car production industries globally. Thus, EVs are driving the emerging global energy economy currently. Based on the surveys, Chinese market leaders…

The packaging industry has grown in the last five years, making handling packaging of parcels easier with its new trends and developing technologies. Sustainable packaging is one of those trends. One of the leading recyclers of agricultural film, LyondellBasell and AFA Nord, has recently come forward to form a fifty-fifty joint venture for recycling commercial secondary packaging wastes in 2023. The company LyondellBasell plans to build a mechanical recycling plant in northern Germany to recycle plastic materials for use in flexible packaging. The recycling process here will consider Linear Low-density polyethylene (LLDPE) and low-density polyethylene (LDPE) waste to be converted into recycled plastic materials, and it is expected to start…

The electric vehicle market is progressing day by day with new features in the automotive industry in 2023. The automotive industry is witnessing an essential phase with electric vehicles, which are more sustainable than conventional vehicles, environmentally friendly technologies, and others.

According to a survey, the global electric vehicle market is expected to reach up to 14 million units with a diffusion rate of 18 percent in 2023. The data says it was at 10 million units with a diffusion rate of 14 percent in 2022. Europe and China are the leading market players in the world in the production of electric vehicles, as per the reports. There are many advantages to opting for electric vehicles over conventional ones, with more key…

Google is growing daily with its new advancements in different technology sectors. The company is implementing artificial intelligence (AI) for technical developments in its tools and services. Recently, according to a survey conducted for July-August 2023, Chrome is the most used web browser in the world.

A survey shows that the regional use of Google Chrome globally in 2023 shows South America has the highest number of Chrome users, with a 78.9 percent market share. It is followed by the African region and Asia with 71.5 and 72.2 percent market share for the July-August 2023, respectively. Europe and North America's worldwide market share of Chrome web users is comparatively less, with 58.6 and 53.1 percent, respectively. Thus, the data…

Generative AI (artificial intelligence) is taking place in the digital world, where customer experiences face practical and emotional needs and expectations from marketers. Generative AI will play a crucial role in evolving the technicalities of content creation in 2023.

Generative AI prompts and essential tools help produce content, give information based on natural prompts, and make ideas prominent and unique. The active content created with the help of generative AI helps enhance the model's underlying customer data inputs in real time to get relevant and precise results. According to some sources, the language learning models (LLMs) in generative AI should not depend only on static information. The LLMs should boost efficacy by…

With its recent gross domestic product (GDP) reports for the first quarter of 2023, the United States presses the fears of stagflation. One of the largest economies had estimated the fear of stagflation in the early April reports for the first quarter of 2023. Still, the advance reading for the second quarter of the US economy has stopped this fear of stagflation.

Based on the data released by the Bureau of Economic Analysis, the annual GDP growth rate is expected to accelerate to 2.4 percent in the second quarter of 2023, up from 2 percent noted in the first quarter for the same economic year. This reading has gone beyond the expectations of the analysts. The gross domestic product (GDP) estimation for 2023 is based on the source data…

The United States market has witnessed a significant rise in plant-based milk compared to cow milk. Research on plant-based milk consumption in 2023 proves that in the United States, people mostly preferred plant milk for many reasons, such as healthier options and environmental impact.

Consumers are more driven towards the almond milk consumption in the United States. With the growing market of plant-based milk, consumers market is more dependent on the plant milk citing various reasons. According to the data extracted from a study, the plant-based milk industry will be USD 2 billion in 2023, up with a 6.4 percent increase compared to 2022. Based on the data from National Consumer Panel, 41 percent of the consumers bought plant-based milk…

Sustainable development is growing daily in every sector of the economy. It has not been limited to the environmental aspects only, instead, it influences each market segment and eventually contributes towards protecting the environment only. There is a significant rise in consumer preferences shifting towards more sustainable and healthy food choices in 2023.

Recent studies have proven that plant-based milk will be more environmentally sustainable in 2023. Various options come with plant-based milk, such as soy, oat, coconut, and others. These plant milks are gaining popularity due to their many health benefits. These alternatives have also helped people who follow a vegan diet and are lactose intolerant. According to the survey, cow milk…

Accenture announced to invest USD 3 billion in artificial intelligence (AI) practices in 2023 to provide new industry solutions and previously built models that will provide companies across nineteen industries to drive value and accelerate clients.

It will invest in data and artificial intelligence (AI) practices to support its customers with them in various advanced industries. Accenture will use artificial intelligence to gain growth and efficiency in the work field. According to the company, it focuses on helping customers shift from interest to action with the support of data and artificial intelligence (Data & AI) practices. This initiative of Accenture will help the company handle business cases with more responsibility. The…