India’s vegetable oil imports have increased by 33 per cent year-on-year (YoY) to reach 18.66 lakh tonne in August. This is attributed to lower duties and a revival of demand after a decline in domestic rates, as reported by the Solvent Extractors’ Association (SEA). India is the world’s leading vegetable oil buyer, and its imports […]
Preliminary data from state-owned firms reveals that diesel sales in India have declined for the second consecutive month in September. The drop in demand is attributed to rains that have dampened industrial activity and reduced the need for diesel in certain regions of the country. While diesel sales by three state-owned fuel retailers saw a […]
The Confederation of Indian Industry (CII) has said that the opportunity to become part of global value chains has significantly increased post the G20 declaration adopted in New Delhi. In an exclusive interview with ANI, R Dinesh, President of CII and Executive Vice Chairman at TVS Supply Chain Solutions said, “India has been one of […]
The Society of Indian Automobile Manufacturers (SIAM) has revealed that August 2023 witnessed achievements in the Indian automotive industry, with the highest-ever year-on-year monthly sales for Passenger Vehicles and Three-wheelers. The announcement was made by SIAM during the release of the monthly sales data for August 2023. Highest-ever passenger vehicle sales reported. This growth reflects the resilience […]
The central government has sold 1.66 lakh metric tonne (LMT) wheat and 0.17 LMT rice through the Open Market Sale Scheme (D) in an e-auction held on 06 September 2023. The Ministry of Consumer Affairs, Food and Public Distribution in a statement said that a quantity of 2.0 LMT wheat from 500 depots and 4.89 […]
India’s palm oil imports are set to jump 26 per cent to a record high in the 2022-23 year ending on 31 October, as a recovery in consumption and competitive prices prompt refiners to increase purchases, the country’s top palm oil buyer told Reuters on Wednesday. Higher purchases by the world’s biggest importer of palm […]
The Unified Payments Interface (UPI) has revolutionised India’s digital payment ecosystem and played a pivotal role in driving financial inclusion by bringing millions of unbanked individuals into the formal financial system, said RBI Governor Shaktikanta Das here on Monday. The RBI Governor was delivering the keynote address at the Grand Finale of the G20 TechSprint […]
India is monitoring steel imports after shipments from China touched a five-year high in the first four months of the fiscal year that began in April, the country’s steel secretary told Reuters on Monday. During April-July, China was the second-biggest steel exporter to India, after South Korea, selling 0.6 million metric tons, up 62 per […]
Procurement of goods and services from government portal GeM will cross Rs 3 lakh crore this financial year ending on 31 March 2024, said Chief Executive Officer of Government e-Marketplace (GeM) PK Singh in a media briefing. Singh said that on August 23, GeM crossed the Gross Market Value (GMV) one lakh crore mark and […]
For the first time since the global financial crisis of 2008, global household wealth in 2022 (in US dollars) decreased on aggregate as well as on a per-adult basis, both in nominal and real terms. Wealth per adult also recorded the second-largest reduction since 2000. This was revealed in a recent Credit Suisse-UBS report by […]
