IMF drives down global growth forecast; India to grow at 9.5% this year and 8.5% in 2022

India’s economy, which contracted by 7.3 per cent due to the COVID-19 pandemic, is expected to grow by 9.5 per cent in 2021 and 8.5 per cent in 2022, according to latest projections released by the International Monetary Fund (IMF). India’s growth projection released by the latest World Economic Outlook remains unchanged from its previous […]

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More vegetables from the north east being brought under export basket under Operation Greens Scheme

Twenty two more vegetables are being brought under Operation Greens Scheme (OGS). The Centre’s move to increase the scope of Operation Greens Scheme (OGS) will act as a catalyst for exports of agri-perishables from the Northeast and four Himalayan states and Union Territories. OGS is currently applicable to tomatoes, onions and potatoes (TOPs). The Ministry […]

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South Korea’s food company, Orion enters the Direct-to-Consumer (D2C) space in India

One of South Korea’s leading food companies, Orion, has entered the $ 44.6 billion Direct-to-Consumer space in India.  With the launch of its website ShopOrionIndia.com the company has announced its readiness to ride on its digital success with eCommerce which so far contributes about 25 per cent of its annual sales. This move comes within a year […]

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Moody’s upgrades India’s outlook to stable, affirms rating

Ratings agency Moody’s affirmed India’s sovereign rating and upgraded the country’s outlook to ‘stable’ from ‘negative’, citing receding downside risks to the economy and financial system. The sovereign rating by Moody’s stands at ‘Baa3’—which is the lowest investment grade, just a notch above junk status. “Moody’s Investors Service has today changed the outlook on the […]

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