India, Sri Lanka collaborate to strengthen trade interactions through local currency settlement initiatives
India and Sri Lanka have discussed ways to enhance trade settlement in local currencies to reduce transaction costs and insulate the bilateral trade from dollar volatility. Local currency settlement reduces transaction costs, eliminates conversion losses in both directions, and insulates bilateral trade from dollar volatility, said Santosh Jha, Indian High Commissioner.
Source: economictimes.indiatimes.com
India's rice stocks climb to record high; wheat inventories at five-year peak
India's rice stocks in government warehouses rose 15% from a year ago to a record high for the start of June, while wheat stocks reached a five-year peak driven by increased farmer procurement, official data showed on Tuesday. Record rice stocks will help the world's biggest exporter increase shipments despite concerns over rainfall due to an El Nino weather pattern, while an improvement in wheat inventories will help the federal government tame any price spikes later this year by increasing open market sales.
Source: economictimes.indiatimes.com
States told to prepare contingency plans for districts likely to face low rainfall during kharif season
Agriculture minister Shivraj Singh Chouhan has directed states to prepare contingency plans for districts likely to face low or uneven rainfall during the kharif season as the country braces for its weakest monsoon in 11 years due to strong El Nino conditions. The agriculture ministry has identified 9-10 states likely to face a greater impact from El Nino and has drawn up a special plan focusing on water conservation, moisture management, inter-cropping and alternative cropping patterns.
Source: economictimes.indiatimes.com
India, Canada agree to conclude free trade pact talks by year-end
India and Canada on Tuesday agreed to conclude negotiations for a free trade agreement by the year-end as Prime Minister Narendra Modi held wide-ranging talks with his Canadian counterpart Mark Carney on boosting ties in areas of defence, trade and energy. Modi and Carney met on the sidelines of the G7 Summit in Evian-les-Bains in eastern France.
Source: economictimes.indiatimes.com
Indian litchis from Assam enter the Singaporean market
A consignment of 500 kilograms of GI-tagged "Piyaji" litchis from Tezpur, Assam, India, has been exported to Singapore following a flag-off ceremony at Lokpriya Gopinath Bordoloi International Airport. The shipment follows a recent export of Assam litchis to Dubai and marks the opening of the Singapore market for the fruit. ccording to Assam Chief Minister Dr Himanta Biswa Sarma, Tezpur litchis have gained access to international markets over recent years. He noted that 2,000 kilograms of GI-tagged litchis were recently exported to Dubai through the Agricultural and Processed Food Products Export Development Authority (APEDA)
Source: freshplaza.com
From natural farming to digital agriculture, BRICS countries agree on four new global networks
The networks include BRICS Network of Centres of Excellence on Agro-Ecology and Regenerative Agriculture, BRICS Network on Digital Agriculture, Global Forum on Farmers’ Rights in Seed Systems and BRICS AgriN – Agro Inputs, Genetic Resources and Information Network. The BRICS Agriculture Ministers and officials-level meetings held in Indore concluded with the adoption of a unanimous ‘Indore Declaration’ that includes several historic decisions giving new direction to food security, farmer welfare, climate-resilient farming, agricultural trade and digital agriculture. Shivraj Singh Chouhan, Union Minister for Agriculture & Farmers Welfare and Rural Development made it clear that member countries have decided to make collective and sustained efforts to translate all initiatives mentioned in the Indore Declaration into action on the ground so that its benefits actually reach farmers, rural communities and food systems in a real and impactful manner.
Source: agrospectrumindia.com
Bananas remain one of India's fastest-growing fruit exports despite war and weather disruptions
India's banana exports continue to record strong growth, with export values rising steadily over the past five years, says Shvam Dhumal of Agroindi EXIM Pvt Ltd. "The fruit has become one of India's fastest-growing fresh produce export categories, even as the industry currently deals with geopolitical tensions, logistics disruptions, and weather-related challenges." According to Shvam, "India's banana export value increased from USD 124.5 million in FY 2021-22 to USD 149 million in FY 2022-23 before surging to USD 255 million in FY 2023-24. Exports reached USD 339 million in FY 2024-25 and further climbed to USD 462 million in FY 2025-26, reflecting an annual growth of 36%."
Source: freshplaza.com
US-Iran peace deal may help boost India's exports, stabilise rupee
The announcement that the US and Iran have finalised a deal to end their 107-day conflict and reopen the Strait of Hormuz is expected to boost India's exports to West Asia, which was severely impacted by the hostilities, spur manufacturing activity and help stabilise the rupee, according to exporters and experts. They said the announcement, if implemented successfully, would reduce pressure on India's import bill, ease inflationary covers and create a more conducive environment for trade.
Source: economictimes.indiatimes.com
US Trade Representative Greer to visit India on June 23-24 for talks
U.S. Trade Representative Jamieson Greer is scheduled to visit India on June 23-24, an Indian trade official said on Monday. His discussions with Indian officials will focus on giving final touches to the interim deal between New Delhi and Washington, the official said.
Source: reuters.com
The cumulative exports (merchandise & services) during April-May 2026-27 is estimated at US$ 162.69 Billion, as compared to US$ 141.89 Billion in April-May 2025-26, an estimated growth of 14.66%
The cumulative value of merchandise exports during April-May 2026-27 was US$ 88.91 Billion, as compared to US$ 76.59 Billion during April-May 2025-26, registering a positive growth of 16.09%
Source: pib.gov.in