The above-normal monsoon forecast brings hope for improved Kharif production The government has bought nearly 71,000 tonnes of onion so far this year to add to its buffer stock. It has set a target of procuring five lakh tonnes of onion for price stabilisation and expects retail prices to ease as the monsoon progresses over […]
Strong performance in textile and apparel exports bolsters India’s overall trade growth in May 2024 India’s textile exports witnessed a significant growth of 9.59 per cent in May this year compared to the same month in the previous year, overcoming unfavourable economic conditions in major markets such as the European Union (EU), the US and […]
The central government has authorised the export of 99,150 MT of onions to six nations: Bangladesh, UAE, Bhutan, Bahrain, Mauritius, and Sri Lanka. This decision follows projections of lower Kharif and Rabi onion crops for 2023-24 compared to the previous year, coupled with heightened international demand. To facilitate this export, the National Cooperative Exports Limited […]
Union Minister Jitendra Singh on Sunday stated that India’s startup landscape has undergone a remarkable evolution under Prime Minister Narendra Modi’s leadership. He highlighted a staggering growth, with the number of startups soaring from around 350 in 2014 to an impressive figure today, establishing India as the third-largest startup ecosystem globally. Singh underscored PM Modi’s […]
The South Indian Organised Retailers Association (ORA) is gearing up to seek the intervention of the central government concerning the business practices of POCO, a sub-brand of Xiaomi, the news agency PTI reported. The association alleges that the cell phone manufacturer is deliberately avoiding supplying phones to mainline channels. In its statement, the ORA asserts […]
Food safety regulator The Food Safety and Standards Authority of India (FSSAI) has advised food service establishments to adhere and display calorific value, allergen, and nutritional information in foods they serve as per mandated rules. After receiving representation regarding the misinterpretation of the display of information, it has written to commissioners of food safety across […]
In anticipation of the upcoming operationalisation of online stock monitoring from 15 April 2024, the government has issued a warning against forward trading, a practice known to distort the market, to ensure sufficient supplies of pulses in the country. According to an official statement, Consumer Affairs Secretary Nidhi Khare has taken proactive steps to ensure […]
The Ministry of Commerce and Industry has issued a directive to all ecommerce platforms to remove Bournvita and similar drinks from the “Health Drinks” category following an inquiry by the National Commission for Protection of Child Rights (NCPCR). The commission, constituted under the Commission for Protection of Child Rights (CPCR) Act, 2005, concluded that there […]
The commerce ministry is anticipated to request a five-year extension for the Interest Equalisation Scheme for exporters, rather than a short-term extension when the current period expires on 30 June. According to a senior official, the scheme has been particularly beneficial during periods of high interest rates. Under the interest equalisation scheme, exporters receive an […]
Highlighting India’s growth in digital transactions, External Affairs Minister S Jaishankar on Wednesday said that while India does transactions worth Rs 120 crores in a month, the US does only worth Rs 40 crores in a year. The EAM further said that while some countries have doubts about the efficiency of democracy, India has shown […]
