The central government has imposed stock limits on wheat for traders, wholesalers, retailers, big chain retailers and processors in all states and Union Territories, a release from the Food and Consumer Affairs Department stated Friday. According to the ministry, this intervention was needed to manage the overall food security and prevent hoarding and unscrupulous speculation. […]
Easing global oil prices would help India boost imports from Russia, a senior government official said on Friday, as a lower than USD 60 a barrel price of Russian oil will enable buyers to use Western services such as insurance and ships. The Group of Seven large economies known as G7 and some other nations […]
India’s wheat inventories at state warehouses have dropped to 19 million metric tons, the lowest in seven years, two government sources said on Friday, as two years of falling production forced state-run agencies to sell more grain to private players. Last year, India, the world’s second-biggest wheat producer, banned exports after output was curtailed due […]
India has allowed duty-free imports of yellow peas until March 2024, an official gazette notification said. This is part of New Delhi’s intervention to cool the prices of the overall pulse basket. Reportedly, the duty on yellow peas was first implemented in November 2017 at 50 per cent. India largely imports yellow peas from Canada […]
Financial market participants in India will closely monitor the outcome and the policy stance of the central bank, the Reserve Bank of India (RBI), to be announced at 10 am Friday (today), for fresh cues. As things stand, the monetary policy committee is most likely to maintain status quo. The three-day bi-monthly monetary policy committee […]
India has allowed the export of non-basmati white rice in varying quantities to Comoros, Madagascar, Equatorial Guinea, Egypt, and Kenya, an official notification said. Notably, the export of non-Basmati white rice was prohibited on 20 July to check domestic prices and ensure domestic food security. Earlier, India allowed the export of such a variety of […]
Finance Minister Niramala Sitharaman on Thursday said that the manufacturing sector is contributing significantly to the economy following government initiatives and noted that India’s second-quarter growth this year was the highest in the world. Replying to a short-duration discussion on the “economic situation in the country” in the Rajya Sabha, Sitharaman said there was sustained […]
India has prohibited the export of onions till March 2024, as per an official notification issued late on Thursday evening. The DGFT notification said the export of onions will be allowed on the basis of permission granted by the central government to other countries based on the request made by the countries. Onions are currently […]
The beauty brands have high expectations for this year’s wedding season in India, as it leads to more cosmetics sales. The brands have experienced a substantial surge in sales and heightened demand within the beauty segment. However, the sector faces challenges amid the peak times. “While the wedding season has brought us amazing sales, we […]
Domestic electronics manufacturing has witnessed a remarkable increase in the past decade, growing by over 400 per cent to reach a staggering Rs 8.22 lakh crore in FY 2022-23. As informed by Minister of State for Electronics and IT Rajeev Chandrasekhar in the Lok Sabha, India’s domestic mobile phone manufacturing has achieved a milestone, with […]
