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TB replaces COVID-19 as leading infectious disease killer in 2023: WHO report

TB is the leading infectious disease killer in the world. Photo Courtesy: Unsplash

The World Health Organization (WHO) on Tuesday published a new report on tuberculosis revealing that approximately 8.2 million people were newly diagnosed with TB in 2023 – the highest number recorded since WHO began global TB monitoring in 1995.

This represents a notable increase from 7.5 million reported in 2022, placing TB again as the leading infectious disease killer in 2023, surpassing COVID-19.

WHO’s Global Tuberculosis Report 2024 highlights mixed progress in the global fight against TB, with persistent challenges such as significant underfunding.

While the number of TB-related deaths decreased from 1.32 million in 2022 to 1.25 million in 2023, the total number of people falling ill with TB rose slightly to an estimated 10.8 million in 2023.

With the disease disproportionately affecting people in 30 high-burden countries, India (26%), Indonesia (10%), China (6.8%), the Philippines (6.8%) and Pakistan (6.3%) together accounted for 56% of the global TB burden.

According to the report, 55% of people who developed TB were men, 33% were women and 12% were children and young adolescents.

“The fact that TB still kills and sickens so many people is an outrage, when we have the tools to prevent it, detect it and treat it,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “WHO urges all countries to make good on the concrete commitments they have made to expand the use of those tools, and to end TB.”

In 2023, the gap between the estimated number of new TB cases and those reported narrowed to about 2.7 million, down from COVID-19 pandemic levels of around 4 million in 2020 and 2021.

This follows substantial national and global efforts to recover from COVID-related disruptions to TB services.

The coverage of TB preventive treatment has been sustained for people living with HIV and continues to improve for household contacts of people diagnosed with TB.

However, multidrug-resistant TB remains a public health crisis. Treatment success rates for multidrug-resistant or rifampicin-resistant TB (MDR/RR-TB) have now reached 68%. But, of the 400 000 people estimated to have developed MDR/RR-TB, only 44% were diagnosed and treated in 2023.

Funding gaps and challenges

Global funding for TB prevention and care decreased further in 2023 and remains far below target.

Low- and middle-income countries (LMICs), which bear 98% of the TB burden, faced significant funding shortages.

Only US$ 5.7 billion of the US$ 22 billion annual funding target was available in 2023, equivalent to only 26% of the global target.

The total amount of international donor funding in LMICs has remained at around US$ 1.1–1.2 billion per year for several years.

The United States government remains the largest bilateral donor for TB.

While the Global Fund to Fight AIDS, Tuberculosis and Malaria (the Global Fund) contribution to international funding of the TB response, especially in LMICs, is important, it remains insufficient to cover essential TB service needs.

The report emphasizes that sustained financial investment is crucial for the success of TB prevention, diagnosis, and treatment efforts.

Globally, TB research remains severely underfunded with only one-fifth of the US$ 5 billion annual target reached in 2022.

This impedes the development of new TB diagnostics, drugs, and vaccines.

WHO continues leading efforts to advance the TB vaccine agenda, including with the support of the TB Vaccine Accelerator Council launched by the WHO Director-General.

Complex drivers of the epidemic

For the first time, the report provides estimates on the percentage of TB-affected households that face catastrophic costs (exceeding 20% of annual household income) to access TB diagnosis and treatment in all LMICs.

These indicate that half of TB-affected households face such catastrophic costs.

A significant number of new TB cases are driven by 5 major risk factors: undernutrition, HIV infection, alcohol use disorders, smoking (especially among men), and diabetes.

Tackling these issues, along with critical determinants like poverty and GDP per capita, requires coordinated multisectoral action.

“We are confronted with a multitude of formidable challenges: funding shortfalls and catastrophic financial burden on those affected, climate change, conflict, migration and displacement, pandemics, and drug-resistant tuberculosis, a significant driver of antimicrobial resistance,” said Dr Tereza Kasaeva, Director of WHO’s Global Tuberculosis Programme. “It is imperative that we unite across all sectors and stakeholders, to confront these pressing issues and ramp up our efforts.”

Global milestones and targets for reducing the TB disease burden are off-track, and considerable progress is needed to reach other targets set for 2027 ahead of the second UN High-Level Meeting.

WHO calls on governments, global partners, and donors to urgently translate the commitments made during the 2023 UN High-Level Meeting on TB into tangible actions.

Increased funding for research, particularly for new TB vaccines, is essential to accelerate progress and achieve the global targets set for 2027.

October 31, 2024
Tata, JSW groups to invest over $30 billion in EV sector amid govt’s push: Report

New Delhi, Oct 30: The Indian government continues to push for higher EV production in the country and for greater localisation of supply chains, which will be key to help the country reach the target of 30 per cent EV penetration by 2030, according to a report on Wednesday.

“We estimate that the Tata and JSW groups alone will be investing over $30 billion into making EVs and EV materials over the coming decade, of which about $10 billion will be in South and Southeast Asia (SSEA),” said the report by S&P Global Ratings.

As the world’s most populous country, India’s vast market potential is attracting substantial EV-related investment. EV adoption in India will progress with model launches that bring prices more in line with ICE models, and with improving charging infrastructure.

“We also believe hybrids and vehicles powered by compressed natural gas will command meaningful market share alongside EVs in the light-vehicle and passenger commercial vehicle segments,” the report mentioned.

The government recently launched the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme that has a financial outlay of Rs 10,900 crore over a period of two years. The PM E-DRIVE scheme will play a pivotal role in accelerating EV adoption and building critical charging infrastructure nationwide, contributing to a cleaner and more sustainable future.

According to the report, the transition from ICE in India will initially be more about a shift to alternate fuels rather than pure electrification.

“Government policies on imports and foreign investment will continue to play a critical role in India’s vehicle electrification,” it mentioned.

India is increasingly important to the Korean entities Hyundai Motor Co. (HMC) and Kia, which combined rank as the second-largest carmaker in the country. The market accounted for about 12% of the group’s global sales volume in 2023.

Hyundai plans to continue investing in India, including in local EV production. It will start with its first fully electric model made in the country, launching in January 2025.

The company recently completed an initial public offering in India, and part of proceeds will be used to further their growth and improve its product offerings in that market, said the report.

“We believe Tata Motors has sufficient financial headroom in its credit metrics to undertake its EV investments. In September 2024, the firm announced plans to invest about $1 billion in a new EV plant in the south Indian state of Tamil Nadu,” the report noted.

Its parent entity, Tata Sons Pte. Ltd., has also announced an investment in a lithium-ion battery plant in the northwestern state of Gujarat, with an initial capacity of 20 gigawatt hours. The plant will support more development of the EV supply chain in that region.

The report estimates that rated carmakers will be spending more than $20 billion building electric vehicle (EV) production in South and Southeast Asia for the next few years.

October 30, 2024
Tata, JSW groups to Invest $30 Billion in EV Sector: Report

IANS

India is on the brink of a significant shift in its automobile sector, with major conglomerates Tata and JSW groups planning to invest over $30 billion in the electric vehicle (EV) sector over the next decade. This move comes in response to the Indian government’s push for higher EV production and greater localisation of supply chains, which are key to achieving the target of 30 per cent EV penetration by 2030.

The report by S&P Global Ratings estimates that about $10 billion of this investment will be in South and Southeast Asia (SSEA). As the world’s most populous country, India’s vast market potential is attracting substantial EV-related investment. The adoption of EVs in India is expected to progress with model launches that bring prices more in line with internal combustion engine (ICE) models, and with the improvement of charging infrastructure.

The Indian government recently launched the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme, with a financial outlay of Rs 10,900 crore over two years. This scheme is expected to play a pivotal role in accelerating EV adoption and building critical charging infrastructure nationwide, contributing to a cleaner and more sustainable future.

IANS

The transition from ICE in India will initially be more about a shift to alternate fuels rather than pure electrification. Government policies on imports and foreign investment will continue to play a critical role in India’s vehicle electrification.

Hyundai Motor Co. (HMC) and Kia, which combined rank as the second-largest carmaker in India, are also planning to invest in local EV production. Hyundai plans to launch its first fully electric model made in India in January 2025. The company recently completed an initial public offering in India, and part of the proceeds will be used to further their growth and improve its product offerings in the Indian market.

Tata Motors, part of the Tata group, has announced plans to invest about $1 billion in a new EV plant in the south Indian state of Tamil Nadu. Its parent entity, Tata Sons Pte. Ltd., has also announced an investment in a lithium-ion battery plant in the northwestern state of Gujarat, with an initial capacity of 20 gigawatt hours. This plant will support further development of the EV supply chain in the region.

The report estimates that rated carmakers will be spending more than $20 billion building electric vehicle (EV) production in South and Southeast Asia for the next few years. This massive investment in the EV sector by major Indian conglomerates is a clear indication of the country’s commitment to sustainable mobility and the government’s push for a greener future.

October 30, 2024
Broadband sector to drive telecom industry growth, create new jobs: Report

Broadband sector to drive telecom industry growth, create new jobs: ReportIANS

The rising demand for high-speed internet and data-driven services will boost growth in the broadband market, which is expected to witness a 9-10 per cent Compound Annual Growth Rate (CAGR) over the next few years, according to a report on Tuesday.

The report by TeamLease Services, a people supply chain company, showed that the penetration of wired broadband in India currently stands at around 13 per cent. This figure is expected to accelerate as service providers prioritise broadband services over traditional mobility products due to higher Average Revenue Per User (ARPU).

Further, the report stated that the expansion of broadband services is not only enhancing connectivity but also driving a surge in employment across the telecom industry.

As broadband services continue to expand, there is a growing need for skilled professionals across various roles. Sales teams are pivotal in customer acquisition as broadband penetration extends into previously untapped regions, the report said.

In addition, installation and repair teams are essential for setting up connections and ensuring smooth service delivery. In contrast, network operations and maintenance teams, including fibre technicians, Network Operations Center (NOC) personnel, and customer care professionals, are critical for maintaining network infrastructure and providing customer support. These roles are essential to meet the increasing demands of India’s growing broadband ecosystem.

Broadband services continue to expandIANS

“Home broadband penetration in India currently stands at only 13 per cent, but with the rapid adoption of 5G and satellite-based services on the horizon, we are on the cusp of a major transformation. This surge in broadband demand is creating new job opportunities across the board, from sales and installation to network operations and customer service,” said Subburathinam P, Chief Strategy Officer at TeamLease Services.

“We are witnessing a critical shift in the telecom landscape — where data-driven services will lead the next wave of growth, driving new career paths and reshaping the workforce,” he added.

Further to the rising demand for job roles, the report also identified several key trends that are expected to shape the future of the broadband sector.

The expansion of 5G-based wireless broadband services, often referred to as air fibre, is already underway, with a few service providers launching these offerings. This development will provide faster internet speeds and improved coverage, meeting the growing need for high-speed data.

The continued rollout of the BharatNet project is also enhancing rural connectivity and bringing broadband access to underserved areas. In addition, the potential launch of satellite-based internet services in India is poised to revolutionise internet access in remote regions, further intensifying competition in the broadband market, the report said.

(With inputs from IANS)

October 29, 2024
Festive Season 2024 Ignites Unprecedented Real Estate Demand Across India – InvestoXpert’s Consumer Sentiment Report

21 October 2024: As India ushers in the festive season of 2024, real estate is experiencing a palpable surge in consumer sentiment, driven by auspicious times, attractive offers, and renewed confidence. InvestoXpert’s latest Consumer Sentiment Report reveals insightful trends that underline the market’s buoyant trajectory, highlighting key factors shaping demand and investment preferences during this period.

Rising Consumer Confidence and Demand

The festive season has always been a catalyst for home buying in India. This year, it is marked by a robust increase in consumer demand. According to the report, a significantupto 65% of potential buyers are actively considering real estate investments during the 2024 festive window, compared to 45% last year. This uplift reflects a combination of economic resilience, favourable policies like stable repo rates by RBI, PMAY extension, and ongoing infrastructure developments across metro and Tier-II cities.

Speaking on the report, Vishal Raheja, Founder & MD, InvestoXpert, said, “The festive season of 2024 has infused a renewed sense of optimism among homebuyers. With a combination of favorable market conditions, lucrative developer offers, and improving consumer sentiment, we are witnessing an unprecedented surge in property inquiries. This festive period is not just about buying homes; it’s about making long-term investments in a stable and appreciating asset.”

Attractive Offers and Financial Incentives

The festive season is synonymous with lucrative offers from developers, and this year is no exception. The Consumer Sentiment Report indicates that 76% of prospective buyers are motivated by developer discounts, zero EMI schemes, attractive payment plans, and waived stamp duties, which reduce the upfront financial burden. Real estate developers are leveraging innovative financing models and aggressive marketing strategies to tap into this surge in demand, helping to convert leads into sales faster than in previous years.

High Demand for Premium and Mid-Segment Properties

InvestoXpert’sreport reveals a noticeable shift in consumer preferences, with 43% of respondents showing interest in mid-segment properties priced between ₹50 lakh and ₹1 crore. Meanwhile, luxury housing continues to draw affluent buyers, particularly in metro regions like Delhi NCR, Bengaluru, and Mumbai. The rising aspiration for larger homes, driven by hybrid work models and the growing importance of real estate as a long-term investment, is amplifying interest in premium properties, which saw a 14% rise in inquiries compared to 2023.

Growth in Tier-II and Tier-III Cities

With metro areas becoming saturated and property prices climbing, Tier-II and Tier-III cities such as Lucknow, Chandigarh, Jaipur, and Vadodara are witnessing a significant increase in buyer interest. As per the report, 28% of buyers are considering investment in these emerging markets due to lower property prices, expanding infrastructure, and the prospect of higher returns on investment. Cities like Gurugram, Noida, Hyderabad continue to hold strong, but peripheral regions are catching up fast, propelled by government-led infrastructure projects like the Bharatmala and Smart City Mission.

First-Time Homebuyers: The Key Demographic

The 2024 festive season is particularly promising for first-time homebuyers, who make up a substantial portion of the buyer pool. InvestoXpert’sreport states that 44% of first-time buyers are eager to make purchases, especially with attractive financing schemes offered by banks and developers. The combination of low home loan interest rates and schemes like subsidized GST on affordable housing has made owning a home more achievable than ever before.

Technology and Digital Platforms Enhancing Buyer Experience

The real estate industry is also witnessing a paradigm shift in how properties are marketed and sold. 61% of consumers indicated that digital platforms, virtual tours, and AI-driven property consultations played a significant role in their decision-making process. This trend, coupled with e-commerce-style payment solutions and real-time property updates, has made the buying process smoother and more transparent.

Festive Boost and Long-Term Optimism

The 2024 festive season is shaping up to be a turning point for India’s real estate sector, as revealed by InvestoXpert’s Consumer Sentiment Report. With attractive offers, favorable economic conditions, and rising demand across segments and geographies, the industry is set for a 20% growth in sales volume during this period compared to 2023. As consumer confidence continues to grow, driven by a blend of traditional sentiments and modern conveniences, the long-term outlook for the real estate market remains optimistic well into 2025.

This year’s festive season is lighting up the real estate landscape, fostering strong momentum that developers and buyers alike are keen to capitalize on.

Mansi Praharaj

October 21, 2024
Global CRDMO Work Distribution in India Expected to Rise up to 10% by 2033; Report at Scale-Up Health Conference
India, October 17, 2024: The global CRDMO (Contract Research Development & Manufacturing Organisation) industry is about to witness a re-distribution of outsourcing work across several Asian countries, with India and Korea emerging as new powerhouses by 2033.

At the recent Scale-Up Health event by Eight Roads Ventures, McKinsey & Company presented survey findings that showed that global pharmaceutical companies are increasingly considering India as a destination for their outsourcing needs.

As per McKinsey analysis, by 2033, India could potentially account for 8%-10% share of work outsourced to CDMOs globally, an outcome of the recent trend of significant amount of outsourced work shifting from EU/US to Asia. This growth is largely driven by the evolving geopolitical environment with most Indian CRDMOs expecting 20-40% of their new business to stem from these changes.

Conceptualized and championed by Eight Roads Ventures, Scale-Up Health is India’s first platform for healthcare and life sciences entrepreneurs and leaders, which brings together the Indian entrepreneurial ecosystem to drive collaboration, build stronger networks and champion innovation. It aims to spotlight conversations on latest trends, innovations, and technologies that are redefining global healthcare delivery, accessibility and outcomes. This year, the conference explored four disruptive trends for 2025 and beyond.

Dr. Prem Pavoor, Senior Partner, Head of India & India Healthcare Investments at Eight Roads Ventures, said “The evolving geopolitical landscape and impending legislation presents a significant opportunity for the Indian CDMO industry, one that could be truly transformative. We’re already seeing leading Indian biopharmaceutical companies receive more request-for-proposals, especially from US customers. Though these customers maybe adopting a wait-and-watch approach for now, it’s clear that, amidst global uncertainties, they will seek to diversify their outsourcing footprint. This creates a huge opportunity for India, but also a challenge because Indian CDMOs will need to be prepared with the right infrastructure and services to meet this increased demand.”

Sharing insights from the survey, Anirudh Roy Popli, Partner, McKinsey & Company, said, The biopharma industry is increasingly recognizing the value Indian CDMOs bring to the table. We are seeing increased interest levels across customer segments. However, building trust and long-term, at-scale partnerships takes time. With a strong focus on value and innovation, Indian CDMOs are well-positioned to play a pivotal role in shaping the future of healthcare.”

The conference also spotlighted conversations on oncology care, the global surge of anti-obesity drugs and the rising medtech wave.

Industry leaders who spoke at the event offered key observations during the panel discussions, including:
- Technology, including AI, digital health, and telemedicine, has the potential to augment and transform cancer care by improving diagnosis, treatment selection, monitoring, and patient access.
- The future of cancer care may involve small curative treatments for specific patient populations, but the focus should be on earlier diagnosis and screening to achieve better outcomes.
- GLP-1 drugs are creating a lot of buzz globally as a new class of diabetes and weight loss medication. The annual revenue for the GLP-1 drug class is projected to exceed $100-150 billion by 2030.
- There is potential for India to participate in the global surge of anti-obesity medications as a market as well as through research, clinical trials, and manufacturing.
- The medtech market, currently at $10 billion, has the potential for significant growth and value creation.
- The biggest challenge for the medtech industry in India is developing a strong supply chain ecosystem and overcoming talent shortages in research and development
- As the CDMO industry in India prepares to make the best out of emerging geopolitical circumstances, enhancing customer experience, widening the array of offerings to include emerging new technologies and strengthening proactive scientific problem-solving with the innovators should be the key areas of focus.
- Though India has a reasonably large talent pool to cater to small molecules, there is a need for specialized skills in the large molecule space as well. Companies could explore investing in nurturing talent and bridging the skill gap.
Neel Achary
October 18, 2024
India set to become 3rd largest by 2030, likely dominate emerging markets by 2035: S&P report

India poised to lead emerging markets, cement its position in global economy by 2035: S&P GlobalIANS

India is on track to become a major player in the global economy, according to a recent report by S&P Global. The report predicts that India will be the fastest-growing major economy over the next three years and the third-largest globally by 2030.

This growth is expected to be driven by emerging economies in the Asia-Pacific region, including China, Vietnam, and the Philippines. Emerging markets are set to play a crucial role in shaping the global economy over the next decade. The report forecasts an average GDP growth of 4.06 per cent through 2035 for these markets, compared with 1.59 per cent for advanced economies. By 2035, emerging markets are expected to contribute about 65 per cent of global economic growth.

India’s entry into JP Morgan’s Government Emerging Market Bond Index is expected to provide additional government funding and unlock significant resources in domestic capital markets. This is seen as a first step, as investors will continue looking for improved market access and settlement procedures. India, Indonesia, and Brazil have made improvements relative to their peers and have the momentum to ascend over the next decade. India, in particular, boasts high momentum in policy favourability, while Brazil and Indonesia have made gains in resource availability, including labour and financial capital.

India, Mexico, and Vietnam are among the emerging markets that could benefit from supply chain relocation given their relatively mature manufacturing sectors and strategic trade ties with the US and other developed markets. To compete with developed economies’ government support for local manufacturing and the use of rules of origin to secure their economic interests, emerging markets such as India, Malaysia, and Indonesia have successfully attracted investment and boosted exports by leveraging their unique value propositions.

Emerging markets are setting long-term goals that tend to converge on establishing long-term growth targetsIANS

India’s expansion in electronics has followed an assembly-to-component strategy, using tariffs and production-linked incentives to draw investment in the manufacturing of smartphones and other network-connected devices. The sheer scale of sales opportunity in the Indian market has also provided “in-market, for-market” justifications for investments in manufacturing in the country. India’s consumer spending on goods is worth $1.29 trillion in 2024, according to S&P ‘Global Market Intelligence’ forecasts. The acceleration in growth is particularly marked in export industries such as apparel, household equipment including appliances and electronics, and transport equipment.

Aside from manufacturing for local sales, the contracted electronics manufacturers also export products, particularly smartphones, driving 44 per cent annual growth in telecom equipment exports from 2015 to 2024. The report suggests that the key to success is for governments to establish policies to upskill workforces both generationally and in the short term, and to reduce the ‘brain-drain’ effects of high-skill worker emigration. India’s economic growth and development are set to be driven by a combination of factors, including policy favourability, resource availability, strategic trade ties, and a focus on upskilling the workforce. The country’s entry into JP Morgan’s Government Emerging Market Bond Index, its measures to improve fiscal flexibility, and its strategies to attract investment in manufacturing are all expected to contribute to its position as a leading emerging market and major global economy by 2035. This growth trajectory underscores the importance of strategic planning and policy implementation in shaping the future of emerging economies.

October 17, 2024
US officials report “productive meeting” with India enquiry committee amid ongoing assassination investigation

The United States had a “productive meeting” with visiting members of the India Enquiry Committee, a State Department official said on Wednesday, October 16, adding they were satisfied with the cooperation from the Indian side.

Representational image. Flags of USA and India. Photo courtesy: in.usembassy.gov

“We are satisfied with the cooperation. It continues to be an ongoing process. We continue to work with them on that, but we do appreciate the cooperation and we appreciate them updating us on their investigation as we update them on ours,” State Department Spokesperson Matthew Miller told reporters at his daily news conference.

He was responding to a question on the visit of officials from the India Enquiry Committee, which is investigating the American allegations of involvement of an Indian official in the assassination plot of a Sikh separatist, who is also an American citizen.

“The meeting that occurred yesterday — we updated — we being the US government broadly — updated members of the Committee of Inquiry about the investigation that the United States has been conducting. We’ve received an update from them on the investigation that they have been conducting. It was a productive meeting and I will leave it at that,” Miller said.

“They did inform us that the individual, who was named in the Justice Department indictment, is no longer an employee of the Indian government,” he said in response to a question.

October 17, 2024
Weather Latest Report! IMD has issued heavy rain alert in these cities for the next four days

Latest Rain Alert: Along with Tamil Nadu, Orange alert (Weather Update Latest News) for heavy rain has been issued in Puducherry, Kerala, South Interior Karnataka and Coastal Andhra Pradesh.

Heavy rains are expected in Tamil Nadu. Chief Minister MK Stalin took stock of the preparations and steps taken by the officials to deal with the situation arising in view of the forecast of heavy rains (Rain Alert) in the next four days by the Meteorological Office.

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