09 Apr, 2024 News Image India, Oman conclude trade talks; to sign deal after elections.
Negotiations for a free trade agreement (FTA) between India and Oman have concluded, and it's likely to be signed after the formation of a new central government in the coming months, two people aware of the matter said.
The pact, officially known as the Comprehensive Economic Partnership Agreement (CEPA), will boost Indian exports to the West Asian country by eliminating duties, especially on petroleum products, textiles, electronics, pharmaceuticals, machinery, and iron and steel.

 Source:  livemint.com
09 Apr, 2024 News Image 'India has a big heart': Maldivians blast Muizzu as New Delhi allows export of essential commodities.
Days after India allowed the export of certain quantities of essential commodities at the request of Male, Maldivians reminded President Mohamed Muizzu of his 'no one can bully us' remarks against New Delhi. Muizzu, who is considered pro-China, in January said Maldives may be small but no country can bully it. His comments were directed at New Delhi. 
 

 Source:  businesstoday.in
09 Apr, 2024 News Image Economic relations secretary in MEA to visit Rwanda, Uganda, Kenya.

Dammu Ravi, secretary, economic relations in the MEA, will visit Rwanda, Uganda and Kenya from April 7-12, as a 'reaffirmation of India's commitment' to further strengthen its ties of friendship with the three African countries. The Ministry of External Affairs, in a statement on Saturday, said the visit seeks to 'maintain the momentum of high-level contacts' between India and countries in Africa, post the entry of the African Union (AU) as a permanent member of the G20 during the Indian Presidency of the grouping.


 Source:  economictimes.indiatimes.com
09 Apr, 2024 News Image Europe is the saving grace for declining Indian exports in 2023.
Despite tough economic conditions, Europe provided a modest boost to Indian merchandise exports during the calendar year 2023, even as overall shipments from the country contracted.
Exports to Europe, comprising 27 European Union (EU) countries, four European Free Trade Association (EFTA) nations, and seven other countries, witnessed 2 per cent growth year-on-year (Y-o-Y) at $98 billion during 2023, while merchandise exports saw a 4.8 per cent contraction in the year.

 Source:  business-standard.com
09 Apr, 2024 News Image India uses peace clause fifth time, for rice subsidies given in 2022.

India has, for the fifth time, invoked the peace clause for exceeding the 10% ceiling on support it offered its rice farmers. The country informed the World Trade Organization (WTO) that the value of its rice production in 2022-23 was $52.8 billion while it gave subsidies worth $6.39 billion, which comes out to 12.1% as against the permitted 10%.


 Source:  economictimes.indiatimes.com
09 Apr, 2024 News Image Flour millers' survey predicts better wheat production over last year.

A survey commissioned by the Roller Flour Millers’ Federation of India forecasts a 3 per cent increase in India’s wheat production for the ongoing 2024-25 crop marketing year that started on April 1, projecting a total of 105.79 million tonnes (mt) compared to last year’s 102.9 mt.


 Source:  business-standard.com
09 Apr, 2024 News Image ICAR-IIHR focusing on entrepreneurship development for individuals to manage own business effectively.

ICAR-IIHR (Indian Institute of Horticultural Research) is now increasingly focusing on entrepreneurship development. The objective is to nurture and support  individuals to create, innovate, and manage their own businesses effectively.


 Source:  fnbnews.com
09 Apr, 2024 News Image India's coffee exports rise 13.35 pc to 1.25 lakh tonnes in January-March.
Coffee shipments from India rose 13.35 per cent to 1,25,631 tonnes during January-March period of this year on higher demand for Robusta coffee, according to the official data. The country had exported 1,10,830 tonnes of coffee in the same period in 2023.
India, Asia's third-largest producer and exporter, grows Arabica and Robusta varieties of coffee.

 Source:  economictimes.indiatimes.com
09 Apr, 2024 News Image Govt may provide DBT to onion farmers for procurement.
The union government is planning to directly transfer payments to farmers for purchases of shallots by procurement agencies, an official said.
The move for direct benefit transfer (DBT) is aimed at cutting off middlemen. The government currently provides a DBT of Rs.6,000 per farmer annually under PM Kisan Samman Nidhi Yojana. However, there is no data on how farmers are paid for the produce procured from them.

 Source:  livemint.com
09 Apr, 2024 News Image 'India surpasses China's growth rate...it will continue doing so': European Parliament policy expert.

Pointing out the sustained growth of the Indian economy over the past decade, European Parliament think tank expert, Angelos Delivorias said that India's GDP growth exceeding that of China reflects New Delhi's emergence as a formidable economic powerhouse in the global arena.


 Source:  economictimes.indiatimes.com