May 8 (BNP): A United Nations expert panel has called on countries to adopt broader ways of measuring national progress, arguing that Gross Domestic Product (GDP) alone does not fully reflect people’s well-being or long-term development.

According to the panel, while GDP remains an important indicator of economic activity, it often overlooks key aspects such as income inequality, environmental sustainability, healthcare, education, and overall quality of life. The UN believes that relying only on economic output can give an incomplete picture of how societies are truly performing.

The recommendation comes at a time when governments around the world are facing growing challenges linked to climate change, social inequality, and economic uncertainty. Experts say these issues require policies that focus not just on growth, but also on improving living standards and ensuring sustainable development.

The panel has proposed a wider framework that includes social, environmental, and economic indicators to help governments better assess the real impact of their policies. Areas such as public health, education, environmental protection, job security, and social welfare are expected to play a larger role in future progress assessments.

UN officials noted that several countries have achieved strong economic growth over the years while continuing to struggle with social and environmental problems. They believe a more balanced approach to measuring development could help policymakers make decisions that benefit both people and the planet.

The push to move beyond GDP reflects a broader global conversation about creating more inclusive and sustainable economies. Experts believe adopting wider measures of progress could help nations focus on long-term resilience and improve the overall well-being of their citizens.

New Delhi, May 08: The Electric Lamp and Component Manufacturers Association of India (ELCOMA), in strategic association with Ace Exhibitions, today announced the launch of the inaugural “Lighting World & Home Tech Expo”, scheduled for 14–16 January 2027 at Bharat Mandapam, New Delhi. Conceived as a high-impact B2B + B2C marketplace and knowledge platform, the Expo will bring together the complete value chain—from lamps, luminaires and components to smart controls, automation, AV integration and energy management—supporting quality-led growth and stronger competitiveness for India’s lighting industry.

“Lighting World & Home Tech Expo is a timely, future-facing initiative. It creates a dedicated stage for advanced lighting, controls and connected–living solutions—helping manufacturers, brands and innovators engage with specifiers and buyers, showcase differentiated technology, and build partnerships that can scale across India,” said Mr. Parag Bhatnagar, President, ELCOMA.

“As the market rapidly upgrades to efficient, compliant and digitally enabled solutions, India is seeing sustained momentum in lighting. Industry estimates compiled by ELCOMA indicate that the Indian lighting market is valued at about USD 3.83 billion (2025) and is projected to reach USD 5.12 billion by 2031, growing at a CAGR of 4.9%,” said Mr. Amal Sengupta, Secretary General, ELCOMA.

Broader market trackers also estimate the overall lighting market in India at about USD 14.1 billion (2024), with potential to reach USD 22.4 billion by 2030 (CAGR 8.6%). In parallel, smart lighting is emerging as one of the fastest-growing categories—driven by IoT-enabled controls, human-centric lighting, sensor-based automation and integration with building management systems.

“The convergence of lighting and home technology is now a decisive market shift. The India smart home market is estimated at USD 5.20 billion (2025) and forecast to reach USD 24.1 billion by 2031 (CAGR 29.12%). For lighting, this means greater demand for connected fixtures, intelligent drivers, certified controls and interoperable ecosystems that deliver measurable gains in energy efficiency, comfort, safety and lifecycle value,” Amal Sengupta added.

“The Expo is designed as a curated growth engine for the industry—connecting manufacturers and brands with architects, designers, developers, system integrators, EPCs, hospitality leaders, smart-city stakeholders and B2C buyers. By enabling discovery, specification and procurement in one destination, we aim to accelerate adoption of smart, sustainable and design-forward lighting across residential, commercial and infrastructure projects,” said Mr. Anupreet Singh Jaggi, Managing Director, ACEXM7 Events Pvt Ltd.

A curtain-raiser for the Expo will be held on 12 May 2026 at India Habitat Centre, Lodhi Road, New Delhi. Apart from signing of MOU between ELCOMA and Ace Exhibitions . it will  feature a panel discussion on “The Future of Smart Lighting & Home Tech in India” with industry leaders, policymakers and technology experts, followed by structured networking to enable collaboration and business matchmaking.

●      Planned as a comprehensive annual exposition, the Lighting World & Home Tech Expo will feature curated exhibition zones, technical conferences, buyer–seller meets, innovation recognition, and hands-on workshops on emerging applications such as IoT Enabled Lighting Systems , Architectural Lighting solutions , Integrated Human Centric Circadian lighting, AI-driven automation and net-zero building solutions.

●      Who should attend: Lighting manufacturers, component makers, brands, architects,lighting designers, interior designers, developers, MEP consultants, facility managers, system integrators, project management consultants and authorities ,  building owners , government authorities, policy makers and regulators , utility companies , buyers ,distributors, retailers, export-oriented businesses and discerning B2C buyers exploring premium home–tech and lighting upgrades

●      What to expect:

o   Exhibition – Product launches, application showcases, specification-led sourcing,

o   Technical Conference, Knowledge Sessions,Panel Discussions

●      Focus themes: Sustainable and energy efficient solutions around Smart controls, connected ecosystems, human-centric/circadian lighting, compliance and quality, intelligent building integration

●      Outcomes for the industry: New buyer connections, project leads, partnerships for smart-city and infrastructure programmes, and stronger alignment on standards and best practices.

The initiative also reinforces ELCOMA’s role in enabling an ecosystem anchored in quality, standardisation and global competitiveness for Indian lighting products. Ace Exhibitions brings deep experience in building high-ROI platforms that combine business development with knowledge exchange—supported by premium venue selection, disciplined curation and targeted audience outreach.

As India accelerates towards connected living and sustainability-by-design, Lighting World & Home Tech Expo is positioned to become a signature industry destination—catalysing innovation, collaboration and commerce for the lighting and allied technology sectors.

May 8 (BNP): India and the European Union have moved closer to a landmark economic partnership with the conclusion of a wide-ranging Free Trade Agreement (FTA) that officials describe as one of the most comprehensive trade deals ever negotiated.

Speaking at an industry event in New Delhi, senior Commerce Ministry officials highlighted the scale of the agreement, calling it the “Mother of All Deals” because of its global economic reach and strategic importance. The proposed pact connects nearly two billion people and covers close to one-third of global trade, making it a major milestone for both economies.

The agreement is expected to deepen trade ties between India and the EU across goods, services, technology, manufacturing, and investment. Together, the two economies account for nearly one-fourth of global GDP, creating significant opportunities for businesses and consumers on both sides.

Officials noted that the partnership reflects the complementary strengths of the two regions. While Europe offers advanced technology, capital goods, and high-value manufacturing, India brings a rapidly growing consumer market, strong digital capabilities, and expanding industrial capacity.

Trade between India and the EU has already been growing steadily. Bilateral trade in goods and services has crossed major milestones in recent years, with sectors such as petroleum products, telecom equipment, pharmaceuticals, textiles, engineering goods, and digital services playing a key role.

One of the biggest highlights of the agreement is the proposed reduction or elimination of tariffs across a wide range of products. Indian exporters are expected to benefit significantly in sectors including textiles, apparel, leather, gems and jewellery, chemicals, engineering goods, and marine products, where duties in the European market are likely to fall sharply.

European companies, meanwhile, are expected to gain improved access to India’s fast-growing market in areas such as machinery, medical equipment, aviation, chemicals, and advanced technologies.

The agreement also places strong emphasis on services and digital trade. India is expected to receive improved market access in sectors such as IT services, professional services, education, and business consulting. Industry experts believe this could further strengthen India’s position as a global hub for digitally delivered services and Global Capability Centres (GCCs).

Another important aspect of the deal is the easier movement of professionals. The EU has reportedly agreed to a more predictable framework for temporary business visas and professional mobility, a long-standing priority for India.

The agreement additionally addresses emerging global trade concerns, including sustainability regulations and carbon-related trade measures. Both sides are expected to establish dedicated mechanisms for dialogue and dispute resolution to ensure smoother implementation and reduce future trade disruptions.

Officials described the FTA as a forward-looking and flexible framework designed to evolve with changing global economic conditions, technological developments, and regulatory standards.

For India, the agreement represents a major strategic and economic step as the country seeks deeper integration with global markets while expanding export opportunities and attracting investment. Analysts believe the India-EU FTA could reshape trade relations between the two regions and open a new chapter in long-term economic cooperation.

May 8 (BNP): Saudi Arabia’s tourism sector continues to gain momentum, with the country emerging as one of the fastest-growing travel destinations globally. Fresh insights from the World Travel & Tourism Council (WTTC) highlight the Kingdom’s rising influence in the global tourism industry, supported by a sharp increase in domestic travel and ongoing investments in hospitality and infrastructure.

The sector’s growth reflects Saudi Arabia’s broader vision to diversify its economy and reduce dependence on oil revenues. Over the past few years, the Kingdom has introduced major tourism initiatives, eased travel regulations, and expanded entertainment and cultural offerings to attract both international and local visitors.

Domestic tourism has played a key role in this expansion. More Saudi residents are choosing to explore destinations within the country, boosting demand for hotels, resorts, heritage sites, and leisure experiences. Popular cities and tourism hubs have witnessed higher visitor activity, contributing to stronger spending across the travel and hospitality sectors.

Industry experts believe the WTTC’s recognition reinforces Saudi Arabia’s position as a major emerging tourism market. Large-scale projects, improved connectivity, and investments in world-class attractions are helping the country compete with established global destinations.

The government continues to focus on enhancing visitor experiences through digital transformation, infrastructure upgrades, and new tourism partnerships. Events, cultural festivals, and sports tourism are also contributing to increased footfall and international attention.

With tourism becoming a central pillar of economic development, Saudi Arabia is expected to maintain strong growth momentum in the coming years, supported by rising domestic demand and expanding global interest in the Kingdom’s evolving travel landscape.

May 8 (BNP): Teenage cricket sensation Vaibhav Sooryavanshi is receiving growing support for an India debut following his impressive performances in domestic and franchise cricket, with several cricket experts viewing him as a potential long-term asset for the national Test side.

The 15-year-old batter, who has largely featured in T20 cricket with limited First-Class experience, has rapidly emerged as one of the most talked-about young talents in Indian cricket. His fearless batting approach, high strike rate, and maturity under pressure have sparked discussions about how quickly exceptional players should be introduced to international cricket.

Former cricketers and mentors believe Sooryavanshi possesses the talent and temperament needed to succeed at the highest level despite his young age and limited exposure to red-ball cricket.

Among the strongest voices backing the youngster is mentor Zubin Bharucha, who is widely credited for identifying and bringing Sooryavanshi into the Rajasthan Royals setup. Bharucha has urged the BCCI to take a bold step similar to the one taken with legendary batter Sachin Tendulkar during his teenage years.

Referring to Tendulkar’s iconic Test debut against Pakistan in 1989, Bharucha said exposing extraordinary young talent to the highest level at the right time can significantly accelerate development and confidence. According to him, Sooryavanshi’s batting ability and fearless approach already place him ahead of several players waiting for opportunities.

Although the teenager has primarily opened the batting throughout his career, Bharucha believes his long-term future in Test cricket may lie in the middle order rather than at the top. He suggested that Sooryavanshi could eventually become highly effective in positions five or six in India’s Test lineup, roles often associated with players like Rishabh Pant and Ravindra Jadeja.

The mentor also highlighted the youngster’s strong back-foot play and technical adaptability, qualities that could help him succeed in challenging conditions once he gains more experience against swing and seam bowling.

Bharucha emphasized that while Sooryavanshi possesses exceptional natural talent, mastering red-ball techniques will be crucial for long-term success in Test cricket. He noted that while the youngster could initially flourish in familiar Indian conditions, overseas environments with heavy seam movement and overcast conditions would provide tougher challenges.

Despite his limited First-Class experience, Sooryavanshi’s rapid rise through youth cricket and franchise competitions has generated immense excitement among fans and cricket analysts alike. While many experts believe immediate Test selection may still be premature, there is growing agreement that the teenager has the potential to become a major part of India’s future across formats.