The Indian government has extended the export duty on parboiled rice until March 31 next year. This move aims to maintain sufficient local stock and control domestic prices. The restrictions apply to all varieties of non-basmati rice, which make up about 25% of the country’s total rice exports. Earlier, the government also banned the export […]
Export duty on parboiled rice extended upto March 31, 2024
India’s imports from Russia have increased by 67% to $30.42 billion during April-September this fiscal year. This surge is mainly due to higher shipments of crude oil and fertilizers. As a result, Russia has become India’s second-largest import source in the first half of this fiscal year. Russia’s share of India’s oil imports has risen […]
The eighth edition of the BRICS International Competition Conference, a biannual event, was held from October 11 to 13, with India playing the host after a gap of 10 years. The BRICS grouping comprises Brazil, Russia, India, China and South Africa. The next conference of the BRICS competition authorities will be hosted by South Africa […]
The IMEC was a landmark moment for India, promising to make it a big player in global trade. But now the Gaza war casts a shadow over this ambitious project and has dampened the spirits.
India is considering extending an export levy on parboiled rice to control local prices before key polls, potentially raising the risk of higher global food inflation. The government may extend a 20% export levy, due to expire on October 15, to keep a lid on domestic prices.
India’s diesel exports to Europe reached a record high in September, driven by arbitrage profits and a seasonal decline in domestic demand. The surge in exports will help Europe build commercial stockpiles ahead of the winter heating season and limit price gains. However, experts predict that export volumes are unlikely to continue at the same […]
The influx of cheap sunflower oil from Russia and Ukraine is causing palm oil prices to decrease. The two top producers are taking advantage of currency depreciation to gain a larger market share. Sunflower oil, which normally has a higher price, is now cheaper than soyoil and only slightly more expensive than palm oil.
According to ET Now sources, the export curb is due to poor seasonal monsoon rainfall which is vital for India’s $3 trillion economy. It brings nearly 70 per cent of the rain the country needs to water crops and replenish reservoirs and aquifers, reported Reuters.
The International Monetary Fund’s executive director, KV Subramanian, believes that India will be able to handle the spike in crude oil prices caused by the conflict in Gaza. He stated that India’s strong handling of the pandemic and its balanced approach to supply and demand measures have positioned the country well. However, he noted that […]
India, UK may ink FTA by the end of this month
2 years ago
India and the UK are expected to sign a free trade agreement (FTA) at the end of this month, marking India’s first comprehensive deal with an industrialized nation. The agreement aims to boost bilateral trade beyond the current $20 billion. India has invited UK Prime Minister Rishi Sunak to visit India on October 28 to […]