Indian exporters shipping goods to Israel may face higher insurance premiums and shipping costs due to the Israel-Hamas conflict, according to experts. Israel witnessed a surprise and unprecedented multifront attack by air, land and sea by the Hamas militant group, which rules the Gaza Strip, in its southern parts on Saturday morning. The International trade experts said the conflict may reduce the profits of domestic exporters but will not impact trade volumes unless war escalates.
India's trade ties with Israel have only strengthened in the years after 2019. The total value of trade rose to $10.5 billion on a rolling four-quarter basis in June 2023 from $5.5 billion in the same month in 2019, shows a Business Standard analysis of data from the Centre for Monitoring Indian Economy (CMIE). A rolling four-quarter number provides a comparable figure across different time periods.
Prime Minister Narendra D Modi visited the Science City in Ahmedabad on Wednesday, September 27, 2023.
India has launched Operation Ajay to facilitate the return of those who wish to come back home as a series of brazen attacks on Israeli towns by Hamas militants over the weekend triggered fresh tension in the region.
The Monetary Policy Committee (MPC) is expected to maintain the status quo on policy rates for the fourth consecutive time in its October 4-6 review meeting. The incremental information available since its last meeting in August suggests that growth and inflation prints for the second quarter (Q2) of financial year 2023-24 (FY24) will exceed the committee's projections. However, the Consumer Price Index (CPI)-based inflation is expected to moderate in the second half (H2) of FY24.
Diesel sales in India fell 3 per cent in September as a receding monsoon continued to dampen demand and slowed industrial activity in some parts of the country, preliminary data of state-owned firms showed. While diesel sales by three state-owned fuel retailers fell year-on-year, petrol sales rose in September. Consumption of diesel, the most consumed fuel in the country -- accounting for about two-fifths of the demand, fell to 5.81 million tonnes in September from 5.99 million tonnes demand in the same period a year ago.
Days after JP Morgan announced the inclusion of government bonds in its emerging market (EM) bond index, a host of banks and other financial institutions (FIs) are set to tap the debt market. They plan to raise Rs 18,000 crore by issuing non-convertible debentures (NCDs) and bonds. National Bank for Agriculture and Rural Development (Nabard) plans to raise up to Rs 3,000 crore via five-year social impact bonds on Tuesday, the first of its kind in India.
The talks for a free trade agreement (FTA) between India and Canada may have taken a pause but will resume once the political row between the two countries is resolved as the pact has economic benefits for both the nations, trade experts and exporters said on Friday. However, they said that India may not hurry for the trade agreement as 60 per cent of New Delhi's exports are already entering Canada at zero duty. Earlier this month, India and Canada paused the negotiations for the agreement due to political reasons.
Area under paddy has gone up nearly 3 per cent so far in the ongoing kharif sowing season to 411.52 lakh hectare, while pulses acreage declined 5 per cent, according to the agriculture ministry data. Paddy acreage stood at 400.72 lakh hectare (LH) in the same period last year. As per the data released on Friday, area under pulses declined 5 per cent to 122.57 LH from 128.49 LH in the year-ago period.
In a press statement, the foreign ministry here said 10 Nepali nationals lost their lives in the recent attack by Hamas in Israel.
BRS spokesperson Sravan Dasoju, speaking to PTI, expressed confidence KCR would win from both the constituencies with a thumping majority.
A bench of Justices Surya Kant and Dipankar Datta relaxed the interim bail conditions imposed on Mishra by the court on January 25.
India had been striving for long to get a UNESCO tag for this cultural site located in Birbhum district.
Asked about the talk of a rift between him and Chief Minister Baghel during the tenure of the government in the last five years, Singhdeo said there were no differences as such.
The Centre, for the first time, has initiated a draft proposal for setting up an All India Institute of Medical Sciences (AIIMS)-like institute of national importance for animal health, education and research in Delhi to be called the All India Institute of Veterinary Sciences (AIIVS).
The ruling Congress is seeking to retain power in Chhattisgarh by banking on the welfare schemes of the Bhupesh Baghel government, while the Bharatiya Janata Party is hoping to corner it on the issues of alleged corruption, religious conversions and unfulfilled poll promises.
Tightening its noose around Canada-based 'designated individual terrorist' Gurpatwant Singh Pannu, the National Investigation Agency (NIA) confiscated a house and land of the self-styled general counsel of the outlawed Sikhs for Justice (SFJ) outfit in Punjab's Amritsar and the Union Territory of Chandigarh on Saturday, an official said.
Riniki Bhuyan Sarma, the wife of Assam Chief Minister Himanta Biswa Sarma, has filed a Rs 10 crore defamation suit against Congress MP Gaurav Gogoi for 'false' allegations of irregularities in a food processing project.
The list of drought-hit taluks will be notified, following Chief Minister Siddaramaiah's approval.
After a steady surge, prices of pulses, except those of urad and masoor to some extent, are showing signs of stabilising amid a revival of monsoon rains over major growing areas of Maharashtra and Karnataka, and on expectations of a rise in imports. Chana prices, which too had moved up in recent months, have dropped by almost 3 per cent since the end of August due to increased liquidation of government stocks, official data shows. Monsoon rains seem to have benefitted the standing soybean crop as well.
The Indian High Commissioner to the United Kingdom, Vikram Doraiswami, who was touring Scotland this week was blocked from entering a gurdwara in the capital Glasgow by pro-Khalistan extremists.
Indian growth in the rest of this fiscal year and next will be propelled by robust domestic consumption as consumer confidence improves, and by investment, including large increases in government capital expenditure, according to the Asian Development Outlook September 2023. "As slowing exports could foment headwinds for the economy, and erratic rainfall patterns are likely to undermine agricultural output, the growth forecast for FY2023 is revised down marginally to 6.3 per cent," ADB said.
"As I was working on agriculture, my family wanted me to take over the management of our plantations. But my aim was to master the art of developing new varieties, that is genetics and breeding. As the proverb has it, we reap what we sow. Consequently, sowing the right things is very important," M S Swaminathan had once said.
Contests in 13 seats would attract most attention during the Chhattisgarh assembly elections as they feature prominent leaders of the Congress and BJP.
"First ladies from Turkiye, Japan, the UK, Australia and Mauritius, among others visited the exhibition at NGMA (National Gallery of Modern Art)," the source added.
Youth unemployment (ages 15 to 29) is higher than the national average of 12.4 per cent in Telangana (14.2 per cent) and Rajasthan (13 per cent), followed by Chhattisgarh (6.7 per cent) and MP (6 per cent).
The G20 leaders will deliberate on pressing global issues at the grouping's annual summit here on September 9 and 10. India is hosting the summit in its capacity as the current G20 chair.
'They are too connected for the relationship to completely sour.' 'It will be difficult to mend this relationship, but it will start with full and clear evidence on the issue in question.'
Maratha quota protester Manoj Jarange, who has been on a hunger strike in Maharashtra's Jalna district, said on Thursday that their agitation will continue till the state relaxes the condition of genealogy while giving Kunbi caste certificate to the community members from the Marathwada region.
Irregular rainfall and a pick-up in commodity costs are expected to weigh on the demand and margins of fast-moving consumer goods (FMCG) companies. Most companies reported a sharp expansion in gross margins in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24), given the lower prices of key raw materials and earlier price hikes. Furthermore, there were expectations that cost savings being passed on could reflect in volume growth going forward. However, these hopes could be dashed if demand recovery, especially in the rural segment, stalls, and gains on the raw material front start to recede.
The Maharashtra cabinet on Wednesday decided that Kunbi caste certificates will be issued to those Marathas hailing from the Marathwada region who possess revenue or education documents from the Nizam era that recognise them as Kunbis, Chief Minister Eknath Shinde said.
Haryana Bharatiya Janata Party leader Birender Singh on Monday threatened to quit the party if does not sever ties with the Jannayak Janta Party, which he accused of indulging in rampant corruption in the state.
Any long dry spell could cause moisture stress in the standing crop during the crucial maturing stage and also make it prone to pest and disease attacks.
India's recent move to remove additional 'retaliatory' duty on eight products from the United States (US), including apples and walnuts, would not have any negative impact on the domestic producers, the government clarified, even as the issue threatened to snowball into a political slugfest between the ruling and Opposition parties. The move would, in fact, result in competition in the premium market segment, ensuring better quality at better prices for consumers, especially for apples, a senior government official said. "There were certain concerns that were being raised on the mutually agreed solution that has come in, more specific to seven-eight agriculture products where we had levied additional import duties in retaliation to the steel and aluminum measures (imposed by the US)," Peeyush Kumar, additional secretary in the commerce department, told reporters in a briefing.
Moody's Investors Service on Friday raised India's growth projection for 2023 calendar year to 6.7 per cent on account of robust economic momentum. "Strong services expansion and capital expenditures propelled India's 7.8 per cent real GDP growth in the second (April-June) quarter from a year ago. "We have accordingly raised our 2023 calendar year growth forecast for India from 5.5 per cent to 6.7 per cent," Moody's said in its Global Macro Outlook. - el nino
Addressing a press conference virtually, India Meteorological Department Director General Mrutyunjay Mohapatra said September was likely to witness normal rainfall in the range of 91-109 per cent of the long period average of 167.9 mm.
Jarange, whose hunger strike at Antarwali Sarati village in Jalna district for reservation for the community in government jobs and education entered 12th day, also rejected the fresh outcome of talks held with a delegation of Maratha community leaders and the government late on Friday night in Mumbai.
The southwest monsoon season concluded on Saturday with India receiving 'below-average' cumulative rainfall -- 820 mm compared to the long-period average of 868.6 mm -- in an El Nino year.
Renowned agricultural scientist M S Swaminathan and the driving force behind the nation's 'Green Revolution,' passed away in Chennai on Thursday.
From a high of Rs 140 per kg in the wholesale market a few weeks ago, the prices of tomatoes have come down sharply in parts of Karnataka to about Rs 20 as supply of the commodity has improved substantially, officials said on Monday. In the Mysuru APMC (Agricultural Produce Marketing Committee) yard, for example, tomato prices were down to Rs 14 per kg on Sunday.
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