Discover What’s Next in 2024: Stock Market Predictions, EV Innovations, India’s Space Endeavors, and China’s Monumental 75th Year Celebration! (Part 2 of Our Series)
India’s space exploration reached a pinnacle in 2023 with the triumphant lunar touchdown of Chandrayaan-3 in August. In a continuous pursuit of cosmic prowess, India is gearing up for an audacious mission to Venus this coming year.
Moreover, the Indian share markets are bracing for potential volatility as the anticipation around national elections builds. Furthermore, the 2024 Olympics will serve as a crucial proving ground for the rising prominence of Indian sports.
Don’t miss the second installment in our series detailing the top 10 pivotal events set to unfold in 2024. Catch up with the first part here.
Will the Sensex Soar as Optimism Grows?
With central banks globally adopting a more accommodating stance, foreign investment in Indian equities is on the rise. The Sensex has soared to unmatched heights, breaking the 70,000 mark for the first time.
The current uptrend coincides with several positive macroeconomic indicators leaning in India’s favor, painting a bullish picture for 2024. The spotlight has now turned to the upcoming general elections. Buoyed by the BJP’s sweeping success in recent state elections, the possibility of the party maintaining power could quell market hesitations. Historically, markets have favored political stability, rewarding investors with robust returns before elections.
Looking towards the primary market, it appears to have regained its momentum, as a series of fresh IPOs queue up for their moment on Dalal Street in the following year.
Is the Electric Vehicle Market Set to Accelerate?
The electric vehicle (EV) sector is witnessing a significant growth spurt, supported by strong governmental drives towards sustainable transport. India’s EV market has accelerated rapidly, with sales topping a million in 2022 and matching that figure within the first nine months of 2023 alone.
However, the market penetration of EVs in comparison to traditional vehicles has plateaued, with combustion engines still driving the majority of new sales. Three-wheelers continue to be the pillar of the EV sector’s expansion.
The FAME India scheme has somewhat driven the adoption of EVs but is set to expire in March. Despite concerns over subsidy misapplications and previous governmental hesitations to extend the program, a new parliamentary recommendation suggests a potential three-year renewal.
Major auto manufacturers, such as Tata Motors, are anticipating record EV sales in 2024, while metropolitan areas push forward with the integration of electric buses. Regardless of the subsidy debate, projections show India is on track to become one of the top global players in the EV market.
Will China’s Platinum Jubilee Reflect Past Glory or Future Challenges?
As it approaches the milestone of 75 years since the establishment of the People’s Republic, China stands as a testament to resilient governance and startling economic transformations. October 1 marks the day when, in 1949, Mao Zedong declared a new era from Beijing’s Tiananmen Square, concluding years of civil turmoil and heralding the reign of a single-party communist state.
China’s journey from tumultuous experiments to economic marvel has been nothing short of phenomenal, captivating global attention with its meteoric rise post-1980s. The Eastern giant, now a critical player on the world stage, still raises eyebrows over its stringent political controls even as it astonishes the international community by lifting more than 800 million individuals to prosperity.
While currently an emblem of upper-middle-income success and tantalizingly close to high-income echelons, its recent economic slowdown post-COVID and demographic decline poses questions. Can the next 75 years sustain the momentum that has defined China’s ascent?
Is India Poised to Scale New Heights in the Space Race?
As the calendar turns, the Indian Space Research Organisation is gearing up for an audacious leap into the cosmic arena with its Venus Orbiter Mission, slated for a December launch. This mission is on the heels of ISRO’s commendable 2023 achievements—Chandrayaan-3’s lunar quest and Aditya L1’s solar observations.
Known informally as Shukrayaan, this probe aspires to unravel the veiled mysteries of our solar system’s sultriest planet, Venus. It seeks to penetrate the dense cloak of sulphuric acid clouds to understand the planet’s geological story and scan for signs of atmospheric oxygen—a potential harbinger of paradigms yet undiscovered.
With an eye on success, ISRO aspires to join the prestigious cadre of space-faring pioneers – the Soviet Union, the United States, Europe, and Japan. Looking ahead, India is poised to update on other stellar endeavours like Gaganyaan, the manned foray into the final frontier, and Mangalyaan 2, the sequel to its Martian exploration—could these missions herald a new epoch for ISRO and India?
Will the Paris Olympics Set a New Standard for Affordability?
The summer Olympics in Paris are poised to mark a historical moment as France heralds these games as the most budget-friendly of the century. The French authorities have announced a financial strategy that leans heavily on private funding, revealing that public funds will constitute a mere 25% of the event’s total expenses.
Historically, hosting the Olympics has often spelled financial woe for countries, casting a long and expensive shadow over their economies. The record for the priciest Olympics to date is held by the 2014 Winter Games in Sochi, Russia, with an astonishing price tag of $59.7 billion. Such exorbitant costs have increasingly led to hesitation among nations when it comes to bidding for the Games; this reluctance was apparent in the diminished pool of applicants for the 2024 Olympics. This situation compelled the International Olympic Committee to break with tradition and select the hosts for both the 2024 and 2028 Olympics simultaneously.
As the Paris Olympics approach in 2024, the French capital will face scrutiny over its ability to maintain its pledged budget, particularly in an era characterized by surging living expenses. Skeptics are already casting doubts, worried about potential budget overruns that could add pressure on the taxpayers to foot the bill. Will Paris manage to defy expectations and host an economical yet spectacular Olympic Games? Only time will tell.
