India is set to harvest a record wheat production of 106.21 million tonne in the 2019-20 crop year on the back of good rains, according to latest government data. Wheat production has been rising year-on-year and the previous record of 103.60 million tonne was achieved during the 2018-19 crop year (July-June). Wheat is the main rabi (winter) crop, harvesting […]
Domestic consumption of petroleum products in January 2020 slipped by 0.6 per cent year-on-year (y-o-y) to 18.4 million tonnes, mostly on the back of lower sales of diesel, bitumen and fuel oil. According to provisional data by the government’s petroleum planning and analysis cell (PPAC), diesel usage dipped 1.9 per cent to 6.9 million tonnes. In […]
India will stop importing thermal coal from Financial Year 2023-24, said Union Minister of Coal and Mines Shri Pralhad Joshi while chairing “Chintan Shivir” – a two day brainstorming session. The session was organized to find a way forward for the coal sector – at Kevadia in Gujarat on 17th and 18th February 2020. “The Shivir […]
India’s regulator, the Securities and Exchange Board of India (SEBI) board has decided to allow non-banking custodians to manage gold-exchange traded funds (ETFs) and other gold-related products. Banking custodians can continue to provide these services, it stated after a meeting. The board decided to bring amendments to the SEBI (Mutual Funds) Regulations, 1996, in this […]
Indian solar projects worth US$2.24 billion risk incurring time and cost overruns, including penalties for missing commercial operation timelines, if the coronavirus outbreak continues to impact Chinese solar panel exports, said CRISIL Ratings, an S&P Global company. India sources around 80 per cent of the solar modules it uses from China, as per CRISIL’s analysis. […]
The auctioning of mining leases in Odisha has begun and is almost half way through. The current auction of mining leases marks the end of the existing regime and the beginning of a new, anxiety-laden era. The Mines and Minerals (Development and Regulation) Act was amended in 2015, extending the life of leases of both […]
Global shrimp prices are expected to face pressure over the next few months as global trade adjusts to the changing demand dynamics in China, a key importer and consumer of farmed shrimp, credit rating agency ICRA said. The report revealed that India is also likely to be affected from not only a reduction in Chinese […]
India’s biggest iron ore miner plans to raise production by as much as 50 per cent, potentially boosting supplies and alleviating concerns of shortages of the key raw material. State-run NMDC Ltd. is targeting production of 48 million tons in the year starting April, and will surpass 32 million tons this year. The growth in […]
Gold imports, which have a bearing on the country’s current account deficit (CAD), fell about 9 per cent to USD 24.64 billion (about Rs 1.74 lakh crore) during April-January period of the current financial year, according to Commerce Ministry data. Imports of the yellow metal stood at USD 27 billion in the corresponding period of […]
The gems and jewellery industry urged the government to reduce the import duty on precious metals, cut and polished diamonds and gemstones and amend taxation laws to give domestic traders a level playing field in the global market. Speaking at the 13th edition of the India International Jewellery Show (IIJS), Gem and Jewellery Export Promotion Council (GJEPC) Chairman […]
