India has firmly opposed a joint counter notification submitted by the US and Australia at the WTO alleging that its sugar subsidies breached WTO norms by a wide margin. It questioned the methodology used for calculating the subsidies and argued against the use of the rupee in making the calculations on the ground that the currency was 'heavily' impacted by inflation, sources said.

The Maldives is set to introduce India’s RuPay payment system, a move expected to strengthen the Maldivian Rufiyaa. Although no specific launch date has been announced, this initiative is seen as a step towards enhancing the country’s financial stability.

India’s concerns on the EU’s new Regulation on Deforestation-Free Products (EUDR), that would restrict exports of several items to the bloc from this year-end (December 30 2024), have been shared by a number of other WTO members who all asked for its  postponement at a recent meeting in Geneva, sources said.

India’s farm input subsidies, including sops for fertilizers, electricity and irrigation, have increased a sharp 50 per cent to $48.13 billion in 2022-23 from $32.07 billion in the previous fiscal, per notifications made by the country at the WTO. 

India has initiated efforts to create a Free Trade Agreement (FTA) with the Maldives, Maldivian Minister Mohamed Saeed has said. Addressing a press conference in Male, Saeed, who is the Minister of Economic Development and Trade, further stated that deliberations regarding the FTA are currently underway.

Despite the rise in the price of mangoes, the demand for mangoes from Karnataka is on the rise, not just for domestic consumption, but also overseas. While most sought after varieties are Alphanso, Badami, Mallika and Banganapali, the new entrant to the list seeking a high demand is the GI tagged Kari Ishad, from Ankola.