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IOL News
10 hours ago
- Business
- IOL News
South Africa's agricultural sector shows resilience with 15. 8% growth in Q1 2025
South Africa's agricultural sector remains one of the few areas of the economy to consistently generate jobs and income. Image: Nicola Mawson In a time of economic uncertainty, South Africa's agricultural sector has emerged as a beacon of hope, recording a remarkable growth of 15.8% in the first quarter of 2025. This impressive performance has not only added 0.4 percentage points to the country's overall GDP growth but has also starkly contrasted with declines in critical sectors such as manufacturing, mining, electricity, and construction. The surge in agricultural output is primarily driven by increased activity in the horticulture and animal products sectors, underscoring the stabilising role agriculture plays during economic downturns. The National Agricultural Marketing Council (NAMC) said as the agricultural sector flourishes, South African agricultural exports have also seen a significant uplift, climbing by 6% from the previous quarter and an impressive 10% year-on-year, culminating in a value of US$3.35 billion (R61 billion). This growth has been significantly bolstered by the rising demand for horticultural and grain commodities, including grapes, maize, and apples. Notably, the international demand for South African animal products remains robust, with bovine meat exports soaring by 31% compared to the previous year, despite ongoing biosecurity challenges. The importance of this agricultural growth extends beyond mere statistics; it plays a critical role in poverty alleviation, particularly in low-income areas. Research indicates that growth in the agricultural sector can triple the potential reduction of poverty compared to growth in other sectors. In South Africa, agriculture supports approximately 956,000 jobs, with the broader agriculture and agro-processing industry employing an estimated 1.199 million people—surpassing the ambitious target set by the Agriculture and Agro-processing Master Plan (AAMP). Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ South Africa's agricultural sector has emerged as a beacon of hope, recording a remarkable growth of 15.8% in the first quarter of 2025. Image: Supplied However, this promising trajectory is not without its challenges. The recent hike in fuel levies, which increased petrol and diesel levies by 16 and 15 cents per litre respectively, poses a significant threat to the agricultural sector's growth. The government anticipates raising an additional R20 billion in tax revenue with this move, positioned as a strategic alternative to raising the value-added tax (VAT). Yet, for farmers, this hike represents increased input costs, particularly critical for an industry where fuel accounts for about 13% of variable costs in primary production and agri-logistics. The timing of the fuel levy increase, alongside soaring electricity tariffs, has stifled the benefits of concurrent global oil price reductions. Agricultural producers, heavily reliant on energy-intensive processes, are now grappling with rising costs that impact not only transportation and machinery operations but also the affordability of basic food items for consumers, particularly in lower-income households. However the NAMC, said the cascading effects of the fuel levy increase may lead producers to limit output or shift to less fuel-dependent practices, further exacerbating the food supply challenges faced by marginalised agrarian households. It said concerns are mounting that the rising prices will render staple food items less accessible for vulnerable populations, potentially reversing the gains made in poverty alleviation. "To counteract these adverse effects, several proactive measures are being suggested. First, enhancing the existing diesel fuel rebate scheme could ensure more inclusive access for smallholder and emerging farmers, leveraging their economic potential. Secondly, investments in rural transport infrastructure, alongside promoting alternative energy sources such as solar-powered irrigation and electric farming machinery, could fortify the sector's resilience against fuel price volatility. Finally, fostering collaborative efforts among the government, farmer organisations, and agribusiness stakeholders under the AAMP will be key in formulating adaptive policies that alleviate the inflationary challenges posed by the fuel levy. Such initiatives will not only secure food for low-income households but also advance the sustainability of the agricultural landscape in South Africa. While the agricultural sector in South Africa showcases remarkable growth and potential, it is imperative to address the challenges posed by rising costs and external pressures. By investing in infrastructure, supporting smallholder farmers, and fostering collaboration, South Africa can ensure that its agricultural sector continues to thrive, providing food security and economic stability for its citizens.
Mint
20-06-2025
- Business
- Mint
National Awards for Manufacturing Competitiveness 2025 Celebrates India's Industrial Growth
June 14, 2025 | ITC Maratha, Mumbai India's most influential gathering of manufacturing minds convened on June 14, 2025, at the ITC Maratha, Mumbai, to celebrate industrial excellence at the annual National Awards for Manufacturing Competitiveness (NAMC) presentation ceremony. The evening marked a significant milestone in the country's journey toward global manufacturing leadership. The awards ceremony was held immediately after the 7th edition of the Manufacturing Thought Leaders' Summit (MTLS), an event that has come to symbolize the spirit of knowledge exchange and innovation among India's industrial visionaries. Padma Bhushan Dr. A. Sivathanu Pillai, one of India's most distinguished scientists and technocrats, graced the event as the Chief Guest. In recognition of his monumental contributions to science and nation-building, Dr. Pillai was conferred with the Lifetime Achievement Award by the International Research Institute for Manufacturing (IRIM). The award was presented by Mr. Ravi Kant, former Vice Chairman and Managing Director of Tata Motors, in a moving and celebratory ceremony. The evening was further elevated by the presence of distinguished special guests from some of India's leading industrial houses: Mr. Satish Agrawal – President, Ajanta Pharma Ltd Mr. Saurabh Khedekar – President and CEO – Hindalco Alumina Business, Hindalco Industries Limited Mr. Lokendra Raj Singh – Chief Operating Officer, JSW Steel Mr. Lakshminarayana Neti – Chief Operating Officer, Biological E. Ltd Mr. Shirish Bhide – Operations and Supply Chain India Lead, Cummins India Limited Mr. Nirupam Sahay – CEO, Hindware Limited Mr. Rajendra Chunodkar – President – Manufacturing Operations, Lupin Limited Mr. Vikas Garg – Chief Manufacturing Officer, Superform Chemistries Ltd. (UPL Group Company) Mr. P R Bhaskar Reddy – Director, Hetero Labs Limited Mr. Amit Gupta – Director – Infrastructure, Energy and Materials Business, Dassault Systèmes Mr. Praveer Kumar – Executive Director, GAIL Mr. Vijay Kumar Bindlish – Senior Vice President, Jindal Stainless Limited The summit featured compelling keynote addresses and thought-provoking discussions by some of India's most respected minds across industries. Esteemed speakers included: Dr. Anil Khandelwal, former Chairman and Managing Director, Bank of Baroda Dr. Ganesh Natarajan, former Chairman, NASSCOM Mr. Rajesh Srivastava, renowned author and leadership expert Dr Sibichen Mathew, renowned author and bureaucrat Mr. Barath from Zoho, who shared insights on a simplified approach to developing customized business solutions, highlighting the importance of agility and adaptability in today's digital landscape Speakers from Dassault Systèmes, the Technology Partner for the summit, also captivated the audience with powerful case studies showcasing scientific software solutions and their application in real-world manufacturing environments. Their presentations demonstrated how advanced modelling and simulation tools can accelerate innovation and improve product and process efficiency. The summit's Knowledge Partner, Deloitte India, brought deep insights into the digital transformation of manufacturing. Mr. Jayakumar, Partner at Deloitte India, emphasized the necessity of digital adoption to enhance global competitiveness. Ms. Sudeeptha Veerapaneni, Chief Innovation Officer, spoke about the critical need for gigafactories and hyper-connected supply chains. Mr. Rahul Ghosh discussed the application of digital twins to optimize operations and unlock efficiencies on the shop floor. The NAMC Awards ceremony saw the convergence of over a hundred participating factories, celebrating the rigor, innovation, and operational excellence demonstrated across the manufacturing sector. Business leaders who accepted the awards on behalf of their respective units praised the transparent, technical, and robust assessment methodology adopted by IRIM in identifying the winners. This year, 118 factories were evaluated, and 91 units were recognized across various categories for their outstanding performance. The most coveted title, the NAMC 2025 Trophy, was claimed by the Vijayanagar Works of JSW Ltd. The First Runner-up award went to Tata Motors Electric Mobility Unit, Sanand, while JSL's Hisar Unit secured the Second Runner-up position. As India aims to become a global manufacturing powerhouse, the NAMC Awards and the MTLS platform serve as a beacon, celebrating excellence, encouraging innovation, and reinforcing the nation's commitment to building a resilient and future-ready industrial ecosystem. Note to the Reader: This article is part of Mint's promotional consumer connect initiative and is independently created by the brand. Mint assumes no editorial responsibility for the content.
Mint
13-06-2025
- Business
- Mint
Manufacturing the Future: MTLS 2025 and NAMC Awards to Redefine India's Industrial Landscape
Mumbai, June 13-14, 2025 | ITC Maratha India is rapidly stepping into a pivotal role in the global manufacturing map. In this transformative journey, the Manufacturing Thought Leaders' Summit (MTLS) 2025 emerges as a landmark event, bringing together the brightest minds and boldest ideas shaping the future of industry. Taking place on June 13th and 14th at the ITC Maratha in Mumbai, the summit will feature strategic dialogues, tech showcases, and leadership insights designed to catalyze the next leap in India's manufacturing evolution. The event culminates in the presentation of the 11th Annual National Awards for Manufacturing Competitiveness (NAMC) — a highly respected platform recognizing excellence, innovation, and resilience in manufacturing enterprises across India. As manufacturers globally grapple with supply chain disruptions, digital transformation challenges, and growing ESG demands, MTLS 2025 serves as a critical forum for navigating this complexity. This year's theme focuses on intelligent automation, sustainable growth, resilient operations, and people-centric innovation — key levers for competitive advantage in an era of disruption. The summit will convene over 300 senior decision-makers, including CEOs, policymakers, technocrats, and thought leaders, to chart a collaborative path forward. MTLS 2025 is strengthened by an ecosystem of esteemed partners who play an active role in shaping the summit: Deloitte joins as the Knowledge Partner, bringing insights from global best practices in operational excellence and digital maturity. 'Manufacturing plays a significant role in India's economic growth, contributing to 17% of the GDP and employing over 27 Mn people. The "Viksit Bharat 2047" vision positions India as a leading manufacturing and export hub, fostering economic resilience, technological leadership, and industrial self-reliance by contributing to 25% of the GDP vision of $ 30 tn. Policies and initiatives including the National Manufacturing Mission, Production Linked Incentive Schemes, and Ease of Doing Business combined with India's young workforce and, a large and growing domestic market make India a compelling destination for manufacturing and business expansion. Sector-specific clusters, plug-and-play infrastructure, and integrated logistics hubs further strengthen India's position as a global manufacturing hub' says Mr P.S Easwaran, Partner and Supply Chain leader, Deloitte India Dassault Systèmes, the Technology Partner, will showcase futuristic solutions in digital twins, 3DEXPERIENCE platforms, and model-based engineering. Zoho steps in as the Digital Transformation Partner, contributing tools and strategies for agile, cloud-based factory management. MicroGenesis joins as Co-Partner, enabling innovation in enterprise engineering and scalable technology deployment. These partnerships ensure that discussions go beyond theory — into real-world solutions and implementation strategies. What truly differentiates MTLS is its stellar speaker lineup — a powerful mix of industrialists, authors, and transformation leaders who have steered billion-dollar organizations or authored breakthrough frameworks in operations and leadership. Attendees can expect insights from: Former Chairmen and CEOs of global manufacturing giants, offering deep dives into leadership during disruption. Renowned management authors, whose concepts have shaped modern manufacturing thinking. Subject Matter Experts (SMEs) across AI-led production, lean transformation, ESG compliance, and workforce skilling. Every session is curated to deliver actionable strategies and inspire a shared vision of innovation At the conclusion of MTLS, attention turns to honoring India's most competitive and forward-looking manufacturing organizations at the National Awards for Manufacturing Competitiveness (NAMC). Now in its 11th year, NAMC — curated by the International Research Institute for Manufacturing (IRIM) — is known for its transparent, consultative, and performance-driven evaluation process. The awards emphasize sustained excellence over one-off performance, recognizing manufacturers who demonstrate continuous improvement, innovation, and leadership across functions. This year's awards will spotlight Special Category Winners under the Aatmanirbhar Factory Recognition Program, celebrating self-reliance and localized excellence. Winners are selected through a comprehensive 360-degree process involving site visits, leadership interviews, and detailed process audits — making the recognition not just prestigious, but also deeply credible. In today's fast-changing industrial world, leaders face a pressing need to adopt digital tools, redesign supply chains, and embed sustainability. MTLS provides a neutral, high-impact platform where these complex ideas are discussed, debated, and distilled into actionable roadmaps. It also aligns closely with India's national priorities like Make in India, PLI Schemes, and Green Manufacturing mandates, helping industries align their growth ambitions with evolving policy frameworks. India's manufacturing transformation won't be led by legacy thinking. It will be shaped by bold ideas, cross-industry collaboration, and visionary leadership — all of which converge at MTLS 2025. If you're serious about future-proofing your organization and contributing to India's rise as a manufacturing superpower, this is the one event you can't afford to miss. Event: Manufacturing Thought Leaders Summit (MTLS) 2025 Venue: ITC Maratha, Mumbai Followed By: 11th Annual National Awards for Manufacturing Competitiveness (NAMC) Organized By: International Research Institute for Manufacturing (IRIM) Knowledge Partner: Deloitte Technology Partner: Dassault Systèmes Digital Transformation Partner: Zoho Expected Attendees: 300+ leaders from manufacturing, technology, government, and academia
The South African
23-04-2025
- Business
- The South African
The REAL cost if May 2025 VAT increases go ahead
As the DA and EFF interdict May 2025 VAT increases in the Western Cape High Court, economists have revealed the long-term cost of these measures. Latest research from the National Agricultural Marketing Council (NAMC) points to the negative impact May 2025 VAT increases will have on the South Africa economy. Should May 2025 VAT increases go ahead, it could cause long-term damage to the economy. This includes killing jobs and reducing overall government revenue, not increasing it. According to NAMC's modelling, not only will May 2025 VAT increases bring in less money than expected, but over time it will have negative secondary effects on various industries. As such, NAMC estimates real GDP will fall by 0.21 percentage points and significantly reduce household spending. Next, while VAT collection will increase, other forms of tax revenue collection will likely fall due to lower disposable income. In turn, this will lower Personal Income Tax (PIT) collections, something NAMC calls the 'general equilibrium effect.' Therefore, if May 2025 VAT increases go ahead, higher income expenditure elasticities are bound to be hardest hit. These include vehicles, electronics, other household luxury consumables and real estate transactions subject to VAT. Basically, the National Treasury can't have its cake and eat it, too … The Finance Minister has also increased excise on alcohol and tobacco products – the so-called 'sin tax.' But here, too, any short-term increase in revenue collection jeopardises long-term prospects of the industry. A 6.8% increase in excise duties on alcohol is expected to have ripple effects across the wine and brandy industries. NAMC estimates an additional R1 billion in revenue will be offset by losses due to lower economic activity and disposable income. 'Our simulation suggests that for every R1-billion increase in excise duties collected due to higher tax rates, other tax revenue collected may fall by around R0.25 billion,' says NAMC. Therefore, at an industry level, the excise duty increase could result in the beverage industry's sales falling by 0.3%. South Africa's beverage industry contributed 3.6% (R226.3 billion) to South Africa's GDP. And the industry employs approximately 500 000 people. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
