Indian shrimp exports set to nearly double to $7 billion by 2022: CRISIL

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CRISIL expects shrimp exports from India to nearly double to $7 billion by 2022, driven by strong demand, high quality, improved product mix, and an increase in aquaculture area in Andhra Pradesh, Gujarat, Odisha and West Bengal – even as its Asian rivals battle structural issues and rising domestic consumption. In fiscal 2016, India became […]

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Indian steel makers cut capital expenditure on slow growth and to conserve cash

After a lacklustre performance in the second quarter, several top domestic steelmakers are cutting down on capital expenditure and conserving cash, for what can be described as a long winter before demand revives. Tata Steel, JSW Steel and Jindal Steel and Power (JSPL) have decided to slash their capital expenditure for the year, says a […]

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Mining entities in Karnataka expect iron ore prices to drop further

Mining companies in Karnataka are expecting iron ore prices to fall as supply from NMDC’s Donimalai mines is likely to restart. Lesser offtake of steel due to a decline in demand is another reason being cited for the fall in iron ore prices, reports Business Standard. To ensure seamless renewal of mining leases allocated to the government companies, the Union […]

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NCAER pegs India’s GDP to grow at 6.2% in FY20; RBI cuts repo rate by 35 basis points

After CRISL cutting down India’s GDP growth estimate to 6.9 per cent, India’s GDP growth is likely to be 6.2 per cent during the current fiscal, down from 6.8 per cent in 2018-19, on account of flat growth in agriculture sector, economic think-tank National Council of Applied Economic Research (NCAER) said. The prospects for agricultural […]

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India’s cane arrears to farmers reduce at least by 13% in Sugar season 2020: CRISIL report

Higher liquidity and profitability of mills is expected to reduce cane arrears that stood at Rs 15,200 crore as of July 2019, rating agency CRISIL Research said in its latest report. The government is expected to reimburse the cost of carrying inventory of 4 million tonnes by paying Rs 1,670 crore directly to farmers, thus […]

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CRISIL cuts India’s GDP growth forecast for FY20 to 6.9%

Credit rating agency CRISIL Research has sliced its estimate of India’s gross domestic product (GDP) growth by 20 basis points to 6.9 per cent for this fiscal, following a triangulation of downside risks: weak monsoon, slowing global growth, and sluggish high-frequency data for the first quarter. The slowdown would be pronounced in the first half, […]

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Andhra Pradesh govt order puts Rs 21,000 crore renewables sector debt at risk: CRISIL

The Andhra Pradesh (AP) government’s move to review and bring down the purchase cost of wind and solar energy could aggravate the problem of delayed payments from distribution companies and stress almost 5.2 GW of renewables projects with estimated debt exposure of over Rs 21,000 crore, credit rating agency CRISIL Research said. Nearly half of […]

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