BUSINESS
Tomato Price Today: Tomato prices down to Rs 100/kg, heading to Rs 30 soon
Tomato Price Today: Prices of this humble kitchen staple have started falling from a peak of Rs 250 per kg to Rs 100 per kg now. They are expected to touch Rs 30 per kg by mid-September.
POLICY
USDA lowers global rice trade forecast for 2023 & 2024 after India’s export ban
The ban has led to a steep spike in rice prices across the globe, breaking the 12-year ceiling. The rice price index rose 2.8 percent in July from a month ago to its highest level in nearly 12 years
INDIA
Demographic dividend to keep India growing for next 30 years: Commerce AS Rajesh Agrawal
More than 600 million Indians are aged between 18 and 35 with the demographic dividend expected to persist at least until 2055–56, as per United Nations.
BUSINESS
India looks to Japan, Latin America to arrest fall in gems & jewellery exports
The recent slowdown in the top export markets of Indian gems and jewellery, like the US, European Union and Hong Kong, has prompted New Delhi to scout for fresh markets, an official said
BUSINESS
Exclusive: On El Nino fear, India’s rice export ban may continue till at least November: Government source
Any decision on rolling back the prohibition can only be considered after the sowing season for kharif crops ends, enabling the government to assess the yield for the current year, the official said.
BUSINESS
India-UK FTA talks may conclude as early as September
The countries have already achieved broad consensus on trade of goods especially on the prickly issues of whiskey and automobiles. As many as 19 chapters of the total 26 have also been closed.
BUSINESS
India eyes diversifying imports, exports to limit fallout of US, China demand slowdown
Measures to arrest the impact of global headwinds include diversifying import source nations, scouting for newer markets for Indian goods as well as non-tariff barriers are expected to push local manufacturing at the same time, a senior government official said
BUSINESS
India explores FTA prospects with Peru, shifts focus to strategic cooperation in trade pacts
The country may engage with Peru as early as September to begin negotiations in this matter.
BUSINESS
India's exports plunge to 9-month low in July, trade gap widens on-month
Merchandise trade exports fell to a 9-month low of $32.25 billion in July along with imports registering a fall of 17 percent to $52.92 billion in the same period.
POLICY
Pulses sowing continues to lag as most regions face deficient rains
While the sown area for rice has increased by almost 5 percent, the sown area for pulse continues to lag with a decline of 8 percent
POLICY
PLI Scheme for electronics manufacturing attracts Rs 6887 crore investments till June 2023
The number has breached the ministry’s target which had aimed for an investment of Rs 5,488 crore till the end of FY24.
BUSINESS
PLI scheme disbursals may rise 4-fold on push to local manufacturing
The secretary further said that there is "some course correction required" in the PLI scheme focussing on the sectors that are lagging behind.
BUSINESS
Government to sell more wheat, rice in open market to cool prices
The move comes amid a sharp increase in food prices that is expected to propel headline retail inflation for July to perhaps more than 7 percent
ECONOMY
After tomato, onion prices set for eye-watering rise
A dip in onion acreage coupled with low carryover stocks from the rabi season has put onion prices on a rising trajectory, with prices hitting Rs 2,500 a quintal at Pimpalgaon and Lasalgoan, Asia’s largest onion market
POLICY
2023 will be a crisis year for agriculture, rural demand to stay stagnant till 2024: Economist Bhanumurthy
India recently banned non-basmati white rice exports to contain domestic inflation and increase availability locally. However, the decision is expected to have a big impact on the global market as Indian exports meet 40 percent of world rice demand.
POLICY
India food export ban will keep prices in control, may help govt in quid pro quo: ASK Private Wealth Somnath Mukherjee
India's policy of curbing exports of wheat and rice will keep domestic prices in control and could work for India to pull some strategic levers on the global stage
POLICY
India’s protectionist trade policy: Licence Raj or strategy for a new world order?
While some argue that the smart protectionism of India’s trade will lead to its growth others feel it will be a drag on the country’s long-term trade.
POLICY
Why are veggies getting dearer? Look skywards
An uneven monsoon and early heatwaves, coupled with the damage caused by cyclone Biparjoy, have wreaked havoc on vegetable production
BUSINESS
Kharif sowing continues at pace but pulse planting worrisome
While the sown area for rice has increased by 3.3 percent, the sown area for pulse continues to lag with a decline of 9.3 percent
POLICY
Onion prices expected to increase from early September: Report
However, onion supplies should improve once the kharif arrivals start from October, leading to softer prices, the research report from Crisil added
POLICY
MSMEs hit as exports slump but no job losses yet
Falling profits and incomes batter MSMEs even as exports drop for the seven months out of nine, down 12% in the first quarter of FY24 on an annualised basis.
POLICY
Weather pattern variations damaging crops, veteran farm leader says
Successive crop failures due to rising temperatures and unseasonal rain and hail have dealt a blow to farmers
POLICY
IMD’s below-normal rainfall forecast for August not a cause of worry for kharif sowing: Crisil’s Pushan Sharma
July saw above-normal rainfall, thereby ensuring good soil moisture, and the overall production is expected to rise.
ECONOMY
IMD working to sharpen forecast tools in view of changing weather patterns
India’s weather pattern has seen a swift change, with the monsoon bringing in heavy rain followed by spells of dry weather, says DS Pai, Head of the IMD’s Environment Monitoring and Research Centre.
