INDIA
Kerala unveils budget focused on industry, IT, science parks; few measures to cut spending, garner more revenue
The finance minister said the budget was prepared with the objective of “nava Kerala nirmanam” (new Kerala development) with the aim of accelerating growth and ensuring environmental conservation, and sustainability in development and social justice.
BUSINESS
Builders to be worst hit by commodity price increases; steel, aluminium makers to reap export bonanza
The construction industry has to bear the brunt of the increase in steel and aluminium price. With steel prices up by 65% and aluminium and copper prices by 30% in the country in the last 18 months, the cost of construction has already risen.
BUSINESS
Russia-Ukraine war disrupts India's commodity exports to the region
The movement of tea, seafood and coffee, which are among the key items exported from India to Russia, has been impacted by the conflict.
BUSINESS
Kerala’s tourism revival plans hit a big speed bump
While the State is going all out to woo visitors, its tourist vehicle industry is in a shambles with operators struggling to stay afloat after COVID-19 hit business hard.
BUSINESS
India sees record production of cultured shrimp, export
Farmed shrimp is the mainstay of marine products exported from India. Its production exceeded 9 lakh tonnes in CY2021, despite rampant diseases and logistic hiccups. Covid-led demand in the United States is the prime reason
BUSINESS
A curious paradox: Latest NFHS shows liquor consumption declined in last five years
Survey carried out in two phases from 2019 to 2021 says that the alcohol consumption rate among men and women above the age of 15 was 18.8%, down from 29.2 % in the 2015-16 survey.
BUSINESS
Cardamom prices rise on new auction rules
The new measures were aimed at arresting the slide in prices of the spice. Sluggish export demand and weak buying in the domestic market had seen prices falling, and growers were saddled with excess stock.
BUSINESS
Coffee exports rise 28% in 2021, Will they match it this year?
India exports 70% of its total coffee output and European countries led by Italy are the main buyers.
BUSINESS
Budget 2022 fails to enthuse plantation sector
Sector disappointed as demand for better export incentives falls on deaf ears.
BUSINESS
Budget 2022 | Shrimp culture gets a major boost, but seafood exporters wary of relief
Budget 2022: Although the import duty cuts look good for the aquaculture industry and seafood sector in general, it seems the concessions are only for a limited period. This is still being debated in the industry and the picture is yet to be clear.
BUSINESS
Budget 2022 | Gems and jewellery sector has little to cheer about
Budget 2021 | While there is no change in the import duty of gold, that on cut and polished diamonds has been brought down to 5 percent from 7.5 percent.
BUSINESS
Economic Survey 2022 | Huge rise in FDI in food processing sector
FDI in the food processing industry has increased 86 percent during April-September in FY22 to $410.62 million compared to $220.42 million in the corresponding period of the previous year.
BUSINESS
India gold demand surges in 2021, jewellery purchases almost double: World Gold Council
The spurt in demand in Q4 is less likely to be repeated in 2022, though the revival will continue to set a new normal above pre-pandemic levels, the WCG said
BUSINESS
Natural rubber production in the country may fall below FY22 target
The going was good during initial months of the year. However, with heavy October-November rainfalls in Kerala, Omicron, and the cold wave in north-eastern states hitting demand, production will be below the FY22 target of 8 lakh tonne. Industry experts expect prices to pick up from March
BUSINESS
After COVID-19, IT firms may prefer satellite offices in smaller towns; employees re-locating to Kerala: John M Thomas, CEO, Kerala State IT Parks
Though Technopark in Thiruvananthapuram was the first IT park in the country, Kerala could not capitalise on it. Now, to play catch-up, it is projecting the co-development model, govt-pvt partnerships, and plans are afoot to strengthen the talent pool. Companies are taking note.
BUSINESS
Covid and lockdowns chill liquor sales in Kerala
Provisional figures with Bevco for 2020-21 show a 10 percent drop in Kerala'siquor revenue, at Rs 13,212 crore
BUSINESS
Now, Kerala’s CPM government battles opposition to expensive train project
Chief Minister Pinarayi Vijayan has announced an attractive compensation package of Rs 13,265 crore for the people who stand to lose their homes and land to the project. For the project, 1,383 hectares require to be acquired, which may need the demolition of 9,314 buildings and relocation of 10,000 families
BUSINESS
Increase in footwear prices may lead to drop in demand, hurt manufacturers
Higher tax rates and raw material costs may hurt small manufacturers of footwear, which form the largest chunk of the industry
BUSINESS
Cumin, coriander prices to stay high
Falling production, rising demand primary reasons. China agrees to import Cumin on condition that Spices Board certifies consignments are pesticide-free. Dwindling crop area affects coriander as well. Much depends on Madhya Pradesh.
BUSINESS
Being the only full-stack speciality coffee company from India gives us an edge: Blue Tokai’s Shivam Shahi
In an exclusive interview, Shivam Shahi, co-founder and COO of Blue Tokai, explains how the company skillfully navigated the many pitfalls of the Covid pandemic with the help of multiple channels. He also outlines the speciality coffee company’s expansion plans.
TRENDS
Rs 99,999 a kg: What makes Assam's Manohari Gold tea special
Factors like plucking tea buds in the early morning hours and at specific times of the year, and cutting and rolling the tea manually, matter, say tea producers.
BUSINESS
QuEST Global to double headcount in India in two years
The company expects strong demand traction to continue for the next few years provided there is no drastic impact of any subsequent pandemic waves
BUSINESS
Imports made up 86% of India’s gold supply from 2016-2020, says WGC
According to a World Gold Council report, bullion banking is one of the key pillars to address multiple challenges faced by India’s gold market, such as a lack of quality assurance, the unorganised state of the market and a lack of trust in international markets
BUSINESS
Gold-loan demand surges, banks compete fiercely with NBFCs
The pandemic lull ends, and NBFCs reduce interest rates from an average of 18% to 14-15% and banks are offering rates ranging from 6.5% to 13%.
