The share of UPI in digital payments in India has reached close to 80 per cent in 2023, informed Reserve Bank of India (RBI) Shaktikanta Das on Monday, as he outlined the growth of the payments ecosystem in the country. Addressing the Digital Payments Awareness Week organised by the Reserve Bank of India, the RBI […]
The sugar production in India has registered a decline of 1.19 per cent during the 2023-24 market year (October-September 21) as recorded up to February this year. Indian Sugar Mills Association (ISMA) released a report for the production of sugar to the extent of 25.53 million tonnes (MT). In comparison to the past year, the […]
In a development signaling confidence in India’s economic trajectory, Moody’s, the global credit rating agency, has revised its GDP forecast for the country upwards to 6.8 per cent for the year 2024. The optimistic outlook comes as India is poised to maintain its position as the fastest-growing economy among G20 nations, fueled by robust growth […]
The latest Household Consumption Expenditure Survey 2022-23 indicates a notable rise in the consumption of paan, tobacco, and intoxicants over the past decade, with people allocating a larger portion of their income to these products. The survey, conducted by the National Sample Survey Office from August 2022 to July 2023, reveals that in rural areas, […]
Less than 3 per cent of India’s population, or 3.4 crore people, live below the USD 1.90 purchasing power parity (PPP) daily criteria for global poverty, according to data from the World Poverty Count. Further, India has seen a considerable decline in extreme poverty representing a 3 per cent decrease from 4 crore in 2023 […]
The National Dairy Development Board (NDDB) Chairman Meenesh Shah has stated that the National Dairy Development Board (NDDB) is dedicated to enhancing productivity to enable India to represent one-third of the world’s milk production by 2030. Shah highlighted that the main areas of focus for achieving this objective are animal breeding, nutrition, and health. Currently, […]
India, the world’s largest rice exporter, is expected to witness a decline in rice production for the first time in eight years during the 2023-24 crop year. This development comes amidst concerns over below-average rainfall impacting agricultural output. The Indian government, through the Ministry of Agriculture and Farmers Welfare, revealed that rice production is projected […]
Online shopping is no longer confined to metropolitan areas in India, as digital literacy and widespread internet connectivity have expanded the trend to smaller cities and towns. A recent PwC report highlights the diverse nature of India’s online shoppers, emphasising the need for businesses to tailor strategies based on the geographical location of consumers. The […]
In India’s textile industry, there exist both mechanical and chemical recycling methods. The fabric recycling structure in India is quite lazy In 2022, the textile industry emerged as a major contributor to pollution in India, ranking third after plastic and paper waste. This led it to be a significant source of environmental concern, the textile […]
India’s basmati rice exports are likely to fall in 2024 after nearing a record high last year, as rival Pakistan is offering the grain at competitive prices amid a rebound in production, industry officials said. India and Pakistan are the leading exporters of the premium long-grain variety of rice, famous for its aroma, to countries […]
