The Brics proposal for a Grain Exchange, aimed at challenging the dominance of Western trading firms, faces significant operational and implementation hurdles, including settlement currency, regulatory frameworks, and limited participation from key members like India, according to experts.
Commerce Minister Piyush Goyal announced that the legal scrubbing of the India-EU Free Trade Agreement (FTA) text is expected to be completed within 10-12 days, with the final deal anticipated to be signed by December 31.
The UK body's forecast comes after the UN agency World Meteorological Organisation warned that there is more than 50 per cent chance of El Nino happening this year. El Nino is caused by an abnormal warming of the eastern Pacific Ocean and its impact would cause droughts and floods.
The BRICS nations have expressed concern over the proliferation of trade-restrictive actions in the form of 'indiscriminate rising' of tariffs, particularly measures used as a means of 'coercion', cautioning that such practices risk marginalising the Global South countries.
Ukraine government officials have accused Russian forces of destroying grain storage facilities in the country. Nearly 25 million tonnes of grains are stuck in Ukrainian warehouses and unable to move out due to Vladimir Putin's War.
Very sensitive items -- such as apples, which carry political weight and are closely tied to farmer interests in states like Himachal Pradesh and Uttarakhand -- may face restricted concessions.
After climbing to the highest level in more than five years to 4.7 million tonnes in FY24, India might import fewer quantities of pulses this financial year at 4-4.5 mt on the back of good monsoon and higher domestic production, Bimal Kothari, chairman of India Pulses and Grains Association (IPGA), said in New Delhi on Friday. Kothari was addressing reporters on the sidelines of a seminar on pulses titled "Bharat Dalhan-2024".
Back-to-back droughts in India, the world's largest importer of edible oils and pulses, has boosted prices and made pulses attractive to Canadian farmers.
He said in the last five years, under the leadership of Prime Minister Modi, the role of zonal councils has changed from advisory nature to action platforms.
If a product claims to be 'Made with Natural Ingredients', this may mean that one ingredient is natural. However it does not mean the product is 100% natural, cautions Pavitra K, lead, new product development, True Elements.
Emphasising the importance of sustaining food and energy security, the G20 leaders called for the "cessation of military destruction or other attacks on relevant infrastructure".
'The corruption charges in FCI are not the first and won't be the last.'
The resolution was adopted by a vote of 33 in favour, China and Eritrea voting against and 12 abstentions, including India, Armenia, Bolivia, Cameroon, Cuba, Kazakhstan, Namibia, Pakistan, Senegal, Sudan, Uzbekistan and Venezuela.
Dr Shreekant Sambrani pays tribute to M S Swaminathan, renowned agricultural scientist and a lifelong crusader against hunger who passed away in Chennai recently.
A day ahead of the G20 Summit, it was not very clear whether a consensus on the text to describe the Ukraine crisis in the joint leaders' declaration was achieved with China appearing to emerge as the main stumbling block to bridge the differences on the contentious issue.
Jaishankar said the world has experienced its consequences in terms of higher costs and shortages of foodgrains and fertilizers and fuel.
The US hopes India will "reconsider" its decision to ban wheat exports, with Washington "encouraging" countries not to restrict exports as that will exacerbate food shortages, amidst Russia's invasion of Ukraine. India, the world's second-biggest wheat producer, has banned wheat exports in a bid to check high domestic prices amid concerns of wheat output being hit by scorching heat waves. The decision would help control retail prices of wheat and wheat flour, which have risen by an average 14-20 per cent in the last one year, besides meeting the foodgrain requirement of neighbouring and vulnerable countries.
Emphasising that various issues are on agenda at the G20 under India's leadership.
Elections may be a few months away, but the government may get into election mode much earlier than that, predicts A K Bhattacharya.
Renowned agricultural scientist M S Swaminathan and the driving force behind the nation's 'Green Revolution,' passed away in Chennai on Thursday.
India's Permanent Representative to the UN Ambassador T S Tirumurti said India remains on the side of peace.
India believes no country would emerge victorious in the Russia-Ukraine war as all will suffer losses and there will be a "more serious" impact on developing and poor countries, Prime Minister Narendra Modi said on Monday after holding talks with German Chancellor Olaf Scholz as both leaders reiterated the need for an immediate cessation of hostilities.
With high prices remaining a concern, Prime Minister's Economic Advisory Council chairman C Rangarajan on Wednesday said all policy measures, like rate hikes and intervention in grain markets, will be undertaken to bring down inflation to comfort zone of 4-5 per cent.
Referring to the US sub-prime mortgage crisis and the likely slowdown of the global economy, Singh said, "this may impact both our exports as well as capital flows". Singh said with increased globalisation, the country's economy accounts for almost 40 per cent of the GDP and, hence, India cannot remain unaffected by global developments.
'This announcement is big foolishness.' 'The government has no idea of economics. They are just announcing what comes to their mind.' 'Let them implement what they have announced and just see what will happen in two years.'
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
The government's predicament is a result of its own doing: That of not ensuring adequate buy-in by the stakeholders before passage of the laws, notes Vivek Gumaste.
'Whatever else may or may not happen, China and its people are likely to pay a very heavy price for the lack of transparency of its Communist regime,' predicts Colonel Anil A Athale (retd).
There was no announcement from the government on guaranteeing a minimum basic income, which is the need of the hour. The announcements on portability of ration cards and affordable rental housing to workers are for the long and medium terms. Migrant workers need immediate relief.
Quinoa is said to play a role in the treatment of as many as 20-odd ailments, including liver problems, angina, notes Surinder Sud.
"Though we reiterate our commitment to peace, our defence forces -- the army, the air force and the navy -- are adequately mobilised in a well-coordinated move to thwart any attempt to undermine our security. Our national interest will be protected at all costs. We have also ensured a widespread understanding in the international community of India's firm and principled stand," the President said. India and China are locked in a nearly nine-month long military standoff in eastern Ladakh.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
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If India does not wish to continually violate the WTO rules, it must also continue to push the WTO to either revisit the reference point of 1986-88 prices for calculating subsidies and pitch it at a recent period, or raise the ceiling on subsidies to enable countries like India to stay within the envisaged cap.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
"At present, there are two main rate slabs under which sa majority of goods are covered -- five per cent and 12.5 per cent -- which will now increase to three (five per cent, 12 per cent and 18 per cent).Will this result in multiple litigations is anybody's guess."
Embrace a daily sport. Cook and eat your meals with love. Ditch the pills. Hydrate well.
The Delhi metropolitan area has one of the highest concentrations of population in the world, and suffocating the people of the area on an annual basis should be treated as a crime against humanity, especially when the cause for such suffocation can be controlled, says Arvind Kumar.
Here's the full text of President Ram Nath Kovind's address to the nation on the eve of 72nd Republic Day.
From India's fight against COVID-19 to China face-off, Kovind spoke on several issues during the televised address.
The list of exempted goods from central excise duty has shrunk from 400 items in 2011-12 to 300 now.
