WORLD
India-Middle East-Europe economic corridor more significant than silk and spice routes: Saudi minister
Prime Minister Narendra Modi on September 9 announced the launch of the India-Middle East-Europe mega economic corridor during G20 summit. The project includes India, the UAE, Saudi Arabia, the European Union, France, Italy, Germany and the US
BUSINESS
Saudi Arabia to set up an office in GIFT City India: Minister of Investment
While speaking with the Investment Minister on stage, Commerce Minister of India, Piyush Goyal also stated that India will look into opening an office in Riyadh.
WORLD
Saudi Arabia sees India as key partner in space sector: Saudi investment minister
The statement comes weeks after India’s Moon mission Chandrayaan-3 scripted history when it successfully landed on the Moon on August 23.
BUSINESS
G20 leaders’ declaration commits to halving digital gender gap by 2030
The G20 leaders agree to create a new working group on empowerment of women to support the G20 Women’s Ministerial and look forward to the convening of its first meeting during the Brazilian G20 Presidency.
BUSINESS
WTO to have a fully functional dispute settlement system by 2024: G20 leadership declaration
It has been almost four years since the Appellate Body, which is the dispute-settlement mechanism of the WTO, became defunct, thus affecting developing countries adversely
BUSINESS
India and US resolve final WTO dispute, strengthen bilateral trade relations
India and the US had resolved six of the total 7 disputes at the WTO bilaterally during the Indo-US state visit between June 21 to June 23 earlier this year.
BUSINESS
Low rainfall impact: Pulse sowing continues to lag, with a drop of 8.5% YoY
The delayed sowing of arhar, urad, and moong are responsible for the reduction in the area under pulse cultivation
BUSINESS
Driest August since 1901 - what it means for agriculture in India
The 36 percent rainfall deficit last month has cast a shadow on crop output. Poor vegetative growth and pest infestation are already affecting crops.
BUSINESS
Centre likely to shelve Rs 11,000 crore PLI scheme for manufacture of standard shipping containers
Worldwide container glut behind the decision to put the scheme on hold. As part of the initiative, the shipping ministry had suggested dispersing Rs 11,000 crore over a nine-year period, to boost the manufacturing of such containers in India.
BUSINESS
India looks to ASEAN, West Asia and Far East to arrest fall in buffalo meat exports
After peaking in 2014-15, when meat worth $4.8 billion was exported, buffalo meat exports plummeted 35 percent to $3.1 billion in FY23. Currently, India is the fourth largest exporter of buffalo meat in the world.
BUSINESS
Century-low monsoon hits kharif sowing, pulses register sharp fall
While a pickup in rice sowing during the month of July may hint towards rice output seeing a marginal rise this year, production of pulses is estimated to fall with any drastic changes unlikely as the sowing for autumn crops nears end.
BUSINESS
Driest August since 1901, but revival likely from September: IMD
Hit by strengthening El Nino, India had only 161.7 mm of rainfall this month. Never has the country received less than 190 mm of rainfall in August, as per IMD.
BUSINESS
Exclusive: Retail giant Ikea scouting for 25 acres of land in South Delhi, Dwarka areas
Central and state government officials in the know said that the retail giant had been looking for suitable land parcels to the size of 25 acres preferably in South Delhi and Dwarka regions.
BUSINESS
Digitisation in agriculture to bring in next big Green Revolution: Amitabh Kant
The agricultural working group of G20 had identified four priorities during India’s presidency including the digitalisation for agricultural transformation with emphasis on standardised agricultural data platforms and leveraging new-emerging digital technologies to transform the agri-food sector
INDIA
Govt introduces additional safeguards to ensure restricted rice varieties are not exported out of the country
To check the domestic prices and to ensure domestic food security, the Government has been taking measures to restrict export of rice from India. The export of non-basmati white rice was prohibited on July 20 this year.
POLICY
Sambhar with chana dal, anyone? Govt wants you to ditch expensive tur for cheaper alternative
The government is strategising to alleviate the high inflation in pulses by weaning consumers away from tur to chana dal. But are Indian taste buds ready for the change? Will the 'Bharat Dal' strategy work? Experts are doubtful.
BUSINESS
Consumers or farmers? Inflation fight tests Modi government in an election year
The unprecedented levels of inflation in food prices have brought the focus back on the government’s intent to raise farmers income, especially when the country is bracing for national elections in less than a year
BUSINESS
No plans to import wheat from Russia via diplomatic means: Food secretary Sanjeev Chopra
India is not considering imposing any restrictions on the exports of non-basmati parboiled rice, he further added.
BUSINESS
Govt procuring onions at Rs 2,410/quintal, to ensure welfare of farmers: Piyush Goyal
Onion prices have been on a rise with prices rising from Rs 30 a kg to Rs 40 a kg now. Experts have given the trajectory for the commodity to increase significantly to Rs 60-70 per kg in the retail market starting early September on a likely shortfall in supplies.
BUSINESS
India, ASEAN to begin review of FTA in goods, conclude it by 2025
India and ASEAN registered a bilateral trade of $131.5 billion in 2022-23. The trade with ASEAN accounted for 11.3 percent of India’s global trade in 2022-23
INDIA
Tomatoes continue to fly off ONDC platform; over 45,000 kg sold in a month
ONDC, in collaboration with the National Cooperative Consumer Federation (NCCF), has facilitated the delivery of about 22,500 orders for 45,000 kg of tomatoes around Delhi-NCR.
BUSINESS
Sowing of pulses continues to lag, but not to worry, says govt
The government says that the sowing is temporarily affected by the delayed monsoon, and feels it will catch up next month
BUSINESS
India to hold FTA talks with UK, EU, Canada on sidelines of G20 meet next week
Discussions between New Delhi and UK, EU and Canada are ongoing for a free trade pact with each of these nations in a bid to facilitate greater and smoother movement of goods and services between them
ECONOMY
G20 Summit: Delhi’s hotel occupancy expected to be at a decadal high of 70-72%
Delhi G20: Capital’s most premium hotels including Taj Mahal, Taj Palace, ITC Maurya Sheraton, Le Meridien, Shangri-La, The Lalit, Imperial, Oberoi, and Leela have already closed availability for almost all dates between September 6-11.
