Ban extended
In a surprising turn of events, India has extended its ban on onion exports indefinitely, sending ripples through both domestic and international markets.
In a surprising turn of events, India has extended its ban on onion exports indefinitely, sending ripples through both domestic and international markets.
Main drivers of merchandise export growth in February 2024 include Engineering Goods, Electronic Goods, Organic and Inorganic Chemicals, Drugs and Pharmaceuticals and Petroleum Products, the commerce ministry said.
The country has set a target of defence exports worth Rs 50,000 crore by 2028-29, he added.
As the wheat stocks in government godowns hit a seven-year low, concerns about food security reverberate across the nation. The current inventory of 163.5 lakh tonnes, though above the minimum buffer level, signifies a delicate situation.
Commerce Secretary Sunil Barthwal said that despite a global slowdown, the country is "in the positive zone".
In order to stabilize sugar prices and also the financial positions of sugar mills in the country, the Centre has allowed the export of sugar up to 60 lakh metric tonnes (LMT) during the sugar season 2022-23.
India saw 44.6 million smartphone shipments in the third quarter this year, a 6 per cent decline from the previous year dragged by a lacklustre low-end segment.
India's overall exports went up to $61.10 billion in September, according to data released by Commerce Ministry on Friday. These were 10.2 per cent higher than the corresponding period of last year.
In sugar season (October-September) 2021-22, a record over 5,000 lakh metric tons (LMT) of sugarcane was produced in the country, out of which about 3,574 LMT was crushed by sugar mills to produce about 394 LMT of sugar (sucrose). Out of this, 35 LMT sugar was diverted to ethanol production, and 359 LMT sugar was produced by sugar mills.
As against a projected sugar production of over 100 MT in the upcoming crushing season (2022-23), the state's own consumption is likely to remain at 40 MT, leaving a vast chunk of sugar to remain stored in the mills if the state fails to push its stock in the national market, sources said.
