ECONOMY
Government works on formal framework for public-private partnership in agriculture
The government wants to partner with industry to create a PPP model which will not only be replicable and upscalable but also highly viable on a sustainable basis, Agri Ministry officials have said. The move to formally rope in more companies into the sector comes 6 months after the three controversial farm laws were repealed by the Centre under popular pressure.
ECONOMY
Centre constitutes new trade advisory body, onboards TCS CEO
The Board advises the government on policy measures connected with Foreign Trade Policy (FTP). However, the body had been defunct for a long time with the last meeting having taken place in 2013.
CURRENT-AFFAIRS-TRENDS
Exclusive | India may provide emergency food aid to Sri Lanka as situation worsens
Sources said New Delhi has also assured Colombo of its participation in a proposed aid consortium being planned by Sri Lanka with India, Japan, and China.
ECONOMY
Govt-registered startups have created 7.5 lakh jobs till now, DPIIT data shows
Earlier this year, the DPIIT had begun a plan to enable the creation of 20 lakh new jobs in the sector by officially registering 50,000 new startups over the next four years.
BUSINESS
Exclusive | Industry seeks lower import duty on raw materials in a dozen sectors: Sources
While imports are set to get costlier, the cascading effect of a fast-depreciating currency is set to result in higher prices of gems and jewellery, fertilisers and capital goods, Ind-Ra has said.
ECONOMY
Exclusive | Boris Johnson's exit may prolong India-UK trade talks but won't complicate it: Officials
The India-United Kingdom Free Trade Agreement(FTA) aims to significantly boost trade by reducing tariffs on upto 65 percent of traded goods and up to 40 percent of services. On June 24, both nations concluded the fourth round of talks.
ECONOMY
MSP system should be reformed, less govt intervention crucial to agri growth: NITI Aayog member Ramesh Chand
Chand batted for deferred deficiency price payments (DPP) as an alternative to the existing procurement based MSP structure.
ECONOMY
Odisha, Uttar Pradesh, Andhra best in implementing National Food Security Act, first-ever state rankings show
The new rankings reveal that some states and union territories significantly lag others in terms of the coverage, beneficiary satisfaction, digitisation, and overall system efficiency of their Targeted Public Distribution System. Goa was the worst performing state on these metrics, while Ladakh had the worst implemention of NFSA.
ECONOMY
Trade deficit shoots up 62% YoY to $25.6 billion in June
The issue has again caught the attention of the Prime Minister’s Office as the government expects the trade deficit to widen in the near term, and efforts are on to quickly address it, officials have told Moneycontrol.
ECONOMY
Exclusive | Widening trade deficit again on PMO radar, steps being discussed: Sources
Fuelled by rising commodity prices and a weakening rupee, India's trade deficit shot up to $190.7 billion in FY22. Fears of this continuing this year have led policymakers to plan steps to reduce imports and boost exports.
ECONOMY
Gujarat and Karnataka best in developing startup ecosystem: Centre's rankings show
Telangana, Kerala, Maharashtra, and Odisha have occupied the second tier in the rankings. Among smaller states, Jammu and Kashmir have entered this list.
CURRENT-AFFAIRS-TRENDS
Exclusive | As global demand for Indian rice shoots up, govt assessing need for export curbs
India, the largest exporter of rice, is considering curbs on overseas shipments as demand for the cereal shoots up and domestic requirements rise.
BUSINESS
Andhra, Gujarat, Punjab and four others top 'ease of doing business' rankings in India
The Business Reforms Action Plan (BRAP) 2020 report showed these states led in completing a long list of reforms identified by the Centre for improving investor confidence and access to government services for citizens.
ECONOMY
Lower tariffs on scotch whiskey re-emerge as pain point in India-UK trade talks
India had earlier offered the UK lower duties on alcohol, but the UK has demanded an immediate and steep reduction of tariffs.
ECONOMY
Govt trying to reinvigorate handicrafts exports but needs ideas from industry: Piyush Goyal
Goyal said the government wants to open up more exhibition space for handicrafts at existing government premises but is wary of only a few players cornering most of the showroom space either directly or by setting up different entities.
ECONOMY
PM’s one-day visit to UAE put together to build trust after Nupur Sharma controversy, sources say
Officially, the PM will be paying his personal condolences on the passing away of UAE President Sheikh Khalifa bin Zayed bin Sultan Al Nahyan. But sources said the visit will also serve to signal India’s commitment to the region in the wake of a damaging controversy.
ECONOMY
India not part of official G7 statement that supports Ukraine and condemns Russia: Officials
India is participating in the ongoing G7 summit as a guest nation but does not condone or endorse any of the recommendations, statements or announcements in the six-page statement on Ukraine, as it was not part of the drafting team, officials said.
ECONOMY
India in demand for trade deals as negotiations calendar heats up: Officials
Commerce and Industry Minister Piyush Goyal has attributed the upcoming flurry of trade talks to a direct impact of India’s firm, yet inclusive, leadership at the recently-concluded 12th Ministerial Conference (MC12) of the World Trade Organisation (WTO).
ECONOMY
India is committed to creating an environment of competition among districts for exports: PM
Modi said the government will not only set short term but also long term targets for boosting exports. However, unlike previous governments, it will also create detailed roadmaps for individual items to reach that target, achieve zero defect zero effect among manufacturers, and world class packaging of products.
ECONOMY
Exclusive| India to handle Maldives Yoga Day protest 'firmly but discreetly'
A mob chanting Islamist slogans stormed the Maldivian national stadium where over 150 people, including ambassadors from India, Bangladesh and the UK, were taking part in an International Day of Yoga event, co-organized by the Indian High Commission in Maldives.
ECONOMY
Need faster dispute redressal, e-disposal of cases: Piyush Goyal to Consumer dispute redressal commissions
There is also a need for developing a sense of sensitivity and sympathy towards the fact that most of the complainants in the country's consumer grievance redressal mechanism were poor, weak consumers, the minister added.
ECONOMY
WTO Summit | Through leadership and dissent, India attains centre stage at MC 12
India was a major component of the talks on almost all tricky issues during the four-day WTO ministerial conference, which had to be extended by two days to bridge differences among member-nations.
BUSINESS
Spectacular success for India at WTO ministerial conference: Piyush Goyal
"India is 100% satisfied with the outcome of WTO's MC12 conference. India was successful in ensuring the livelihood of its farmers and fishermen," Goyal said.
CURRENT-AFFAIRS-TRENDS
WTO Summit | For the first time in 7 years, nations set to strike deals on global Covid vaccine waiver, fisheries subsidies
The once-in-two-year mega meeting of trade ministers from all 164 WTO member nations which legislate on global trade has concluded in Geneva, Switzerland.
