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19 Jun, 2025 News Image No major economic impact of Iran-Israel conflict, but vigil up: India official.
The ongoing Israel-Iran conflict is unlikely to have any major economic impact on India unless it escalates into a broader and protracted regional conflagration but the government is keeping a close watch on the evolving situation, a senior official said. The conflict, however, could potentially stoke volatility in global crude oil prices, capital flows, currency movement and shipping costs in the short term, the official conceded.
 Source:  economictimes.indiatimes.com
19 Jun, 2025 News Image Union Minister of Commerce and Industry Shri Piyush Goyal Embarks on Official Visit to the United Kingdom from 18–19 June 2025.
Union Minister of Commerce and Industry Shri Piyush Goyal is on a high-level official visit to the United Kingdom from 18th to 19th June 2025. The visit underscores India’s strategic focus on strengthening its economic and trade partnership with the UK, particularly in the backdrop of the announcement by the two Prime Ministers to conclude the India–UK Free Trade Agreement (FTA).
 Source:  .pib.gov.in
19 Jun, 2025 News Image Edible oil companies reduced rates after duty cut, says Indian government.
Most of the edible oil companies have reduced maximum retail price (MRP) and Price to Distributor (PTD) after the Centre announced a drastic reduction in basic customs duty of imported crude edible oils, the Government said on Wednesday. On May 30, it cut the levy from 20 per cent to 10 per cent. . Also, many other processing units have assured the government to further cut prices over the next few days, as they continue to receive lower-cost shipments of crude oils under the revised duty structure.
 Source:  thehindubusinessline.com
19 Jun, 2025 News Image Centre calls States’ meet on June 24 to discuss follow-up action after ‘Lab to Land’ campaign ends.
Union Agriculture Minister Shivraj Singh Chouhan today announced a comprehensive review of the recently concluded 'Viksit Krishi Sankalp Abhiyan,' a 15-day campaign aimed at bridging the gap between agricultural research and farmers. He will chair a meeting on June 24 with State agriculture ministers, officials, and scientists to assess the campaign’s outcomes and formulate future action plans. Virtual participation will be available for those unable to attend the meeting physically.
 Source:  thehindubusinessline.com
19 Jun, 2025 News Image India’s oilmeal exports rise by 1.79% during April-May 2025-26.
India exported 7.81 lakh tonnes (lt) of oilmeals during the first two months of 2025-26 against 7.67 lt in the corresponding period of 2024-25, registering a marginal growth of 1.79 per cent. Data compiled by the Solvent Extractors’ Association of India (SEA) showed that India exported 3.15 lt of oilmeals in May 2025 against 3.02 lt in May 2024, registering a growth of 4.31 per cent.
 Source:  thehindubusinessline.com
19 Jun, 2025 News Image FAS USDA forecasts record Indian rice harvest and exports.
In the 2025/2026 season, which begins on October 1, India may harvest 150 million tonnes of rice, the Foreign Agricultural Service of the US Department of Agriculture (FAS USDA) predicts. The current season’s harvest is estimated at a record 149.0 million tonnes. From October 2024 to March 2025, India has already exported 12.7 million tonnes of rice, which is 5.6 million tonnes more than in the same period last season. If the export pace does not slow down until the end of the season, the volume of rice exports for the entire current season will amount to a record 24.5 million tonnes.
 Source:  ukragroconsult.com
19 Jun, 2025 News Image 'India's exports share growth among fastest over 2010-23'.
India's export sector demonstrates resilience. A new report suggests a steady upward trend from 2010 to 2023. India's growth rate is the highest among major economies. The country outperforms the EU, China, and the US. Trade policies and export initiatives contribute to global integration. Total exports reached $776.3 billion in 2022-23.
 Source:  timesofindia.indiatimes.com
19 Jun, 2025 News Image Piyush Goyal visits UK to fast-track FTA, strengthen economic ties.
Commerce and industry minister Piyush Goyal began a two-day official visit to the UK on Wednesday, seeking to fast-track the India–UK Free Trade Agreement (FTA) and advance broader economic cooperation, the government said in a statement on Wednesday. The visit follows a joint commitment by Prime Ministers Narendra Modi and Keir Starmer to conclude the trade pact, which has been under negotiation for over two years.
 Source:  livemint.com
19 Jun, 2025 News Image Kashmir’s premium cherries make historic debut in Middle East markets.
A premium commercial consignment of cherries from Jammu and Kashmir has reached markets in Saudi Arabia and the United Arab Emirates for the first time, marking a new chapter in the global journey of the Union Territory’s high-value produce. The exported cherries were carefully hand-picked, graded, and packed in temperature-controlled conditions before being airlifted to Gulf markets.
 Source:  deccanherald.com
19 Jun, 2025 News Image Developed world nowhere close to India in Fintech: Finance Minister.
Praising India's Fintech revolution, Finance Minister Nirmala Sitharaman has said that even advanced countries are nowhere close to the kind of progress India is witnessing. 'This is something very unique to Indian Fintech. Several countries are now eager to engage with us, often requesting deeper interactions,' she said while addressing the Digital Payments Award ceremony on Monday.
 Source:  newindianexpress.com