Value addition and diversification are essential to increase export competitiveness and farmers’ income, Dr M Angamuthu, Chairman, APEDA, Ministry of Commerce and Industry, told a meeting organised by industry body FICCI. “Our farmers must get better farm income by doubling of exports. This is the right time to increase our productivity and diversify to value […]
After India’s nationwide lockdown caused gold jewellery demand to drop to a record low during the second quarter, there was a modest recovery during the third quarter to 52.8 tons, according to the World Gold Council (WGC). Still the demand was 48% lower on year – notching the third lowest quarter for Indian jewellery demand. “Not […]
India’s cabinet on Thursday approved a mechanism for procurement of ethanol by state-run oil marketing companies for blending with gasoline. The government has raised the price of ethanol by 5-8% to encourage more farmers to offer their crop for ethanol. The bulk of ethanol in India is made from sugarcane, though the use of other feedstock […]
Global demand for gold during the third quarter of this year dropped by 19% on year to 892 metric tons, the lowest since that experienced during the third quarter of 2009 as consumers battled the effects of the pandemic, according to the World Gold Council. The year-to-date gold demand is down 10% on year at 2,972.1 […]
China was the top foreign buyer of Indian steel between April and September 2020, government data showed, marking a rare rise in bilateral economic activity at a time of political tensions which have triggered some trade curbs. As per a Reuters report, China bought 1.9 million tonnes of finished steel from India, cornering 29 per cent of […]
India’s junior Commerce Minister Som Prakash said on Wednesday that the government will soon be introducing a national policy for logistics as well as e-commerce to boost the retail trade following the devastation suffered in the global pandemic. He told the Federation of Indian Chambers of Commerce and Industry (FICCI) annual retail event called MASSMERIZE […]
With the Covid-19 lockdown being eased across the country, demand for gold loans are set to rise by 15%-18% this fiscal year especially from individuals and small businesses, according to a CRISIL study. Gold loans would be in demand because non-banking financial companies (NBFCs) and banks have tightened their underwriting norms for other loans, leading to […]
India has taken rapid strides in nearly doubling electricity access over the past two decades, but improving the quality and reliability of services remain as key challenges, according to a joint survey called Smart Access Study. The study, which was released in conjunction with NITI Aayog and the Rockefeller Foundation, was conducted to evaluate the status of electricity […]
India has planned to raise its refining capacities from about 250 million tonnes per year (MTPA) to 400 MTPA by 2025, Prime Minister Narendra Modi told the recently held India Energy Forum The PM further indicated his preference towards moving the country towards a gas-based economy. “Increasing domestic gas production has been a key government […]
State-owned FCI and state procurement agencies have bought 21 per cent more paddy so far in the kharif marketing season of this year at 151.17 lakh tonnes amounting to Rs 28,543 crore. Paddy procurement for kharif 2020-21 is progressing smoothly in Punjab, Haryana, Uttar Pradesh, Tamil Nadu and Kerala with purchase of over 151.17 lakh […]
