The minister said the fall in the value of the national currency, which hit a record low of 78.92 against the dollar, is being monitored by the government
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.
In April, Modi had said publicly that the world's most populous democracy was ready to fill part of the gap left by Ukraine in global grains markets by increasing its wheat exports, following five consecutive record harvests.
About 33,000 tonnes of wheat as humanitarian assistance has already been supplied to Afghanistan against the commitment of 50,000 tonne, he said.
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.
The supply deal with Russia, the world's biggest wheat exporter, could help Dhaka in meeting its needs below the elevated global prices, industry officials said.
The export of finished steel had reached a record high of 18.3 million tonnes in the 2021-22 financial year and the prices were at their all-time high, the agency said on Monday.
Production-based output fell by 0.2% in the quarter, Statistics NZ said on Thursday. That was below economists' median expectations of a 0.6% rise and significantly below the 3.0% rise in the December quarter, when the country had benefited from moving out of COVID-related lockdowns.
Imports during May 2022 grew by 62.83 per cent to USD 63.22 billion, the data showed.
The estimated value of services export for May 2022 is $23.28 billion
Since the Russian invasion and blockade of Ukrainian Black Sea ports, grain shipments have stalled and more than 20 million tonnes are stuck in silos. Ukraine says it faces a shortage of silos for a new crop.
During an agri intervention in a WTO session, commerce and industry minister Piyush Goyal said that the World Food Programme (WFP) over the last few years has demonstrated its inability to really ramp up supplies to the countries in distress.
The 7,200-km long International North South Transport Corridor (INSTC) is India's grand plan to cut short the time it takes for trade shipments to reach Russia, Europe and central Asian markets.
According to the latest figures issued by industry group ISMA on Wednesday, sugar exports from India , reached a new high of 8.6 million tonne in May of the current marketing year.
Between June 1-June 3, it received 326 applications from sugar mills and exporters requesting for issuance of Export Release Orders (ERO) for a quantity of 23,10,333 metric tons. These applications were received via the National Single Window System.
Imports during the month jumped by 56.14 percent YoY to $60.62 billion, the commerce ministry said. The surge was driven by petroleum and crude oil imports, which increased by 91.6 per cent to $18.14 billion.
Domestic sales last month were at 53,525 units as compared to 20,073 units sold a year ago. Royal Enfield said its exports were reported at 10,118 units last month while the same was at 7,221 units in the year-ago period.
Linda Thomas-Greenfield told reporters at UN headquarters that there are no US sanctions on Russian shipments of grain and fertilizer, but she said companies are “a little nervous” and have been holding back.
According to a report, sugar exports in the country are likely to climb to roughly 9-10 million tonnes in the sugar season 2022, which begins in October, following lower production in Brazil due to severe weather conditions.
Higher local prices will keep margins intact of sugar makers such as Balrampur Chini, Shree Renuka Sugars, Dalmia Bharat Sugar and Dwarikesh Sugar and help them in making cane payments on time to farmers.
Had India not closed its markets, the country might have faced a shortage of chapatis. People, rich or poor, don’t consume wheat; they buy flour to make chapatis
Analysts, however, say that 10 MT volume is a “fairly large cap” and will “help mills to export maximum amount and keep the bare minimum in the country."
Industry stakeholders raised the issue during a recent meeting with Minister of Civil Aviation Jyotiraditya Scindia
During the second week of this month (May 15-21), the exports grew by about 24 percent to USD 8.03 billion, the official added.
Air raid sirens blared across Ukraine on Monday morning, sounding the daily alarm ahead of anticipated attacks by Russian forces in the east and south of the country.