Export price of rice in india

The government of the United Arab Emirates (UAE) ordered a four-month suspension in exports and re-exports of wheat and wheat flour imported from India. The state-run news agency said that the ministry of economy of the UAE took the decision due to disruptions in global trade flows. The ministry also stated that the grain was exported by the UAE for its domestic consumption. “The resolution applies to all wheat varieties (spelt), namely hard, ordinary, and soft wheat, and wheat flour (spelt flour)… This decision comes in view of the international developments that have affected trade flows and in appreciation of the solid and strategic relations that bind the UAE and India, especially after the signing of the Comprehensive Economic Partnership Agreement between the two countries and the Indian government’s approval to export wheat to the UAE for domestic consumption,” the ministry said in a release. The UAE government’s move means that many nations (mostly rich and developed … [Read more...] about ‘In Appreciation Of The Solid Relations…’: UAE Bans Export, Re-export Of Indian Wheat

Egypt has contracted to buy 180,000 tonnes of wheat from India, Supply Minister Aly Moselhy said on Sunday, less than previously agreed, a deal that is part of the country's efforts to diversify its wheat supplies. Egypt, one of the world's biggest wheat importers, is looking for alternatives to Black Sea grain exports which face disruptions caused by Russia's invasion of Ukraine . Russia and Ukraine have been Egypt's main wheat suppliers. The Ukraine crisis has also raised import costs for Egypt , which heavily subsidises bread for its 70 million population. Mr. Moselhy had said in May that Egypt had agreed to buy 500,000 tonnes of wheat from India but that a contract had not been signed. India banned wheat exports in May because of lower domestic production, but made allowances for countries like Egypt with food security needs. "Based on what the supplier said, the condition was that the wheat has to be at the ports, then it would be available," Mr. Moselhy said on … [Read more...] about Egypt contracts to buy 180,000 tonnes of wheat from India: Supply minister Aly Moselhy

Union Minister Piyush Goyal on June 26 said India wants to capture the world market in all sectors and the country would “very soon” become a $30 trillion economy from the level of $3 trillion at present. The Minister for textiles and commerce and industry said the domestic textile industry has huge potential to generate jobs in coming years and the Centre is working actively with various countries to finalise free trade agreement (FTA) which will give zero-duty access to India’s textile sector in the world market, according to an official statement. Addressing an event in Coimbatore, Mr. Goyal emphasised that the Centre is promoting both cotton and man-made textile sector so that it gets larger share of world market thereby increasing jobs opportunities as well as investment, the statement said. “In all sectors, we want to become a global industry. We want to capture the world market” he said, adding on that under the guidance of the Prime Minister, the Centre is working … [Read more...] about India wants to capture world market, to become $30 trillion economy very soon: Piyush Goyal

Brakes India, a major supplier of automotive braking systems, is considering setting up a new plant in one of its existing premises in Tamil Nadu, Andhra Pradesh or Gujarat to meet future growth, said MD Sriram Viji. “Currently, we are in the process of setting up a new plant in Thervoy Kandigai, near Chennai, by investing ₹100 crore,” Mr. Viji said. The plant, which would manufacture products for commercial vehicle braking systems, was expected to become operational in three months time, he observed, adding that the products were currently in the process of getting validated. According to Mr. Viji, the company had been posting high growth due to a good order book position and the introduction of new products. “The factories are expected to run out of capacity in 18 months time... we are looking at expanding the capacity within our premises either in Tamil Nadu, Andhra Pradesh or Gujarat,” he said. On the company’s prospects, Mr. Viji said that over a five-year horizon, Brakes … [Read more...] about Brakes India plans to boost capacity to meet growth

The Group of Seven rich democracies will commit on Tuesday to a new package of coordinated actions meant to raise pressure on Russia over its war in Ukraine, and will finalise plans for a price cap on Russian oil, a senior US official said on Monday. The announcement came as the White House said Russia had defaulted on its foreign sovereign bonds for the first time in decades – an assertion Moscow rejected – and as Ukrainian President Volodymyr Zelensky spoke virtually with G7 leaders meeting at an alpine resort in southern Germany. Zelensky asked leaders of the Group of Seven leading industrial democracies for a broad range of military, economic and diplomatic support, according to a European official. G7 nations, which generate nearly half the world’s economic output, want to crank up the pressure on Russia without stoking already soaring inflation that is causing strains at home and savaging the global south. The price cap could hit Russian President Vladimir Putin’s war … [Read more...] about G7 to Hike Sanctions on Russia, Nears Oil Price Cap Deal

The story so far: The World Gold Council accorded India as the fourth largest recycler of gold, having recycled 75 tonnes of the valuable yellow metal in the previous year. As per the report titled ‘Gold refining and recycling’, India’s gold refining landscape has changed ‘notably’ in the past decade with formal operations increasing from less than 5 in 2013 to 33 in 2021. The import duty differential that gold doré has enjoyed over refined bullion has particularly accelerated the growth of organised refining in India. Helped by these tax incentives, about half of India’s new refining capacity opened up in Excise Free Zones (EFZs) in Uttarakhand since 2014. China topped the list having recycled about 168 million tonnes of gold in 2021. Italy stood second having recycled 80 million tonnes of gold in 2021, followed by the United States (78 million tonnes). For perspective, gold dorés are metal bars with high gold content. They are composed of a mixture of precious metals but … [Read more...] about Explained | What is gold recycling?

In view of the lockdown, the government on Friday released only a part of the retail inflation data, which indicates that food prices have gone up by 9.28 per cent in May. "All India year-on-year inflation rates for Consumer Food Price Index (CFPI) for the month of May 2020 for Rural, Urban and Combined sector are 9.69 per cent, 8.36 per cent and 9.28 per cent respectively," said an official press release. In May 2019, the food inflation was 1.83 per cent as per the full CPI data released for that period. The government for the second month in a row released the truncated data on retail inflation in the backdrop of the lockdown following COVID-19 pandemic. For April also, Ministry of Statistics and Programme Implementation had released a truncated CPI data. The government had imposed the lockdown from March 25, 2020 to curb the spread of coronavirus. The lockdown adversely affected economic activities in the country. In a statement, the National Statistical Office (NSO) in … [Read more...] about Govt Releases Part of Retail Inflation Data, Food Inflation up 9.28% in May

The G-7 leaders have pledged to continue supporting Ukraine “for as long as it takes.” In a joint statement Monday after a video link session with Ukrainian President Volodymyr Zelensky, the leaders underlined their “unwavering commitment to support the government and people of Ukraine in their courageous defence of their country’s sovereignty and territorial integrity.” President Joe Biden is set to announce that the U.S. is providing an advanced surface-to-air missile system to Ukraine, as well as additional artillery support Russian forces were fighting on June 27 to achieve one of their strategic objectives in Ukraine as Moscow-backed separatists said they were pushing into Lysychansk, the last major city still held by Ukrainian troops in eastern Luhansk province. Lysychansk's twin city of Sievierodonetsk fell on Saturda y in a victory for Moscow's campaign to seize the eastern provinces of Luhansk and Donetsk on behalf of pro-Russian separatists. Russia invaded Ukraine on … [Read more...] about Russia-Ukraine crisis live updates | G-7 demands Russia ‘immediately’ return Ukrainians taken by force

This is a carousel. Use Next and Previous buttons to navigate 26 ELMAU, Germany (AP) — Leading economic powers conferred by video link with Ukrainian President Volodymyr Zelenskyy on Monday as they underscored their commitment to Ukraine for “as long as it takes” with plans to pursue a price cap on Russian oil, raise tariffs on Russian goods and impose other new sanctions. In addition, the U.S. was preparing to announce the purchase of an advanced surface-to-air missile system for Kyiv to help Ukraine fight back against Vladimir Putin’s aggression. The new aid and efforts by the Group of Seven leaders to punish Moscow come as Zelenskyy has openly worried that the West has become fatigued by the cost of a war that is contributing to soaring energy costs and price hikes on essential goods around the globe. U.S. … [Read more...] about G-7 leaders confer with Zelenskyy, prep new aid for Ukraine

Spain is shifting its foreign policy towards Africa while lobbying the EU and NATO for support to address migration from the continent, aggravated by the Ukraine invasion, two senior government officials and two diplomatic sources told Reuters. Spain will use a NATO summit in Madrid this week to press its case, and is likely to ask for increased intelligence sharing by the alliance including on issues related to migration, the diplomats said. Even before Russia’s Feb. 24 invasion of Ukraine, Socialist prime minister Pedro Sanchez had revived a strategy mothballed by previous governments of working with African partners to contain migration and to tackle root causes such as instability and climate change, two officials close to him said. That drive has now taken on more urgency, they added. “We are looking for good relations with all the neighbours around us and jointly managing phenomena that no one, not even the most powerful state on the planet, can deal with on its own,” … [Read more...] about Spain Turns to Africa, Lobbies NATO, Allies Over Ukraine-driven Migration