The Tamil diaspora community on Monday expressed deep concern over the ban on rice from India as they are grievously affected by the Union government’s decision. Notably, in South Indian states like Kerala, Karnataka, Tamil Nadu and Andhra, Telangana and Puducherry, rice is a staple diet item and with the ban on its export, the availability of parboiled rice has come down leading to the Tamil diaspora suffering with shortage of rice.
The UN’s Food and Agriculture Organization’s (FAO) All Rice Price Index increased by 2.8% on the month and 19.7% on the year to reach its highest nominal level since September 2011, as India’s July 20 prohibition of non-parboiled Indica exports fostered expectations of greater sales in other origins, amplifying upward pressure already exerted on prices by seasonally tighter supplies and Asian purchases.
As India continues to break all previous records on local mobile manufacturing, tech giant Apple is on course to surpass the FY24 figures of exports from India, reaching over Rs 50,000 crore (more than $6 billion) in the first six months this fiscal (FY25), according to latest industry data.
The iPhone exports from India surged to cross $10 billion in 2023-24 from $6.27 billion in 2022-23. Overall, the iPhone maker’s India operations reached $23.5 billion in value in the last fiscal (FY24).
With US President Joe Biden announcing a steep hike in tariffs on $18 billion worth of Chinese goods, an opportunity has emerged for India to increase its exports of items such as steel, aluminum, and medical goods like facemasks, PPE, syringes, needles, and gloves to the American market, according to industry experts and market analysts.
“The ban imposed by the government of India on the export of certain types of rice in July this year is “for the global good to ensure food safety for economically weaker sections of consumers” and also “to prevent traders from hoarding and blackmarketing rice,” said India’s commerce minister Piyush Goyal, while addressing a group of chartered accountants of ICAI from San Francisco. Goyal urged rice importers based in the US to “bear with” the Indian government’s calculated decision to put curbs on rice exports “for the larger good.”
The Indian government on Saturday imposed a 40% duty on the export of onions to check domestic price rise and improve supplies till December 31, 2023. India had earlier banned the export of non-Basmati white rice on July 20 by amending rice export norms and putting non-basmati white rice in “prohibited+” category.
Rice prices soared to the highest levels in almost 15 years in Asia on mounting concerns over global supplies as dry weather threatens production in Thailand and after top shipper India banned some exports.
India’s ban on the export of non-Basmati rice on July 20 has sent shockwaves among the rice-consuming community in the US. The sudden prohibition has led to a price rise and several stores across the country have begun limiting the number of rice bags one buys. The USA Rice Federation — the nation’s apex trade body on the foodgrain — believes the ban could impact as much as 80 percent of India’s rice exports and affect global food security. indica spoke to Mani Krishnan of Shastha Foods…
After the Indian government prohibited the export of non-Basmati rice, many department stores in the US are limiting the number of rice bags customers can purchase. A user on Twitter (now X) has shared a picture in which a notice put up by a store in the US, says, “Only one rice bag per family”.
In order to ensure adequate availability of non-Basmati white rice in domestic markets and prevent its prices from rising, the Centre on Thursday prohibited its export with immediate effect.
The Indian government on Thursday amended the rice export norms putting the non-basmati white rice in “prohibited” category. The export policy relating to non-basmati white rice (Semi-milled or wholly milled rice, whether or not polished or glazed: Other) has been revised from “free” to “prohibited” and it has come into force immediately, a Directorate General of Foreign Trade (DGFT) notification said.
The export figure for last year had already been crossed in February and merchandise and services exports would touch $750 billion this year. Union Minister of Commerce and Industry, Piyush Goyal made this forecast while addressing the 8th edition of the Raisina Dialogue in New Delhi on March 4, Saturday.
Former Reserve Bank of India Governor Raghuram Rajan has advised that India should leverage its G20 presidency to seek greater openness towards service exports. In a television interview during the ongoing World Economic Forum (WEF) meeting at Davos, Rajan said that too much investment is going towards chip making globally, which could lead to a glut.
The Indian government on Thursday banned the export of broken rice and imposed a 20 per cent duty on exports of non-Basmati rice amid concerns over low production due to a fall in area under the paddy crop.
Prime Minister Narendra Modi on Wednesday informed that India has achieved the target of 400 billion dollars of goods exports for the first time ever. “I congratulate our farmers, weavers, MSMEs, manufacturers, exporters for this success. This is a key milestone in our Aatmanirbhar Bharat journey,” Narendra Modi tweeted.
Microchip shortage along with high fuel prices heavily dented major automobile manufacturers’ September sales on a year-on-year basis.
Arul Louis- India sent $755 million more in exports to the US during the first half of this year as a result of the trade war waged by President Donald Trump against China, according to the trade arm of the UN. Trade diversion effects for India were smaller compared some other countries, “but still […]
Tanvi Madan – The Trump administration’s decision not to extend waivers from Iran sanctions will not be welcome in New Delhi. India imports over three-quarters of the oil it consumes, and Iran has long featured in the list of its top sources. Washington had previously issued it a waiver, and, since sanctions had gone into effect, […]
By Justice Markandey Katju- (Justice Markandey Katju is a former Judge, Supreme Court of India, and former Chairman of Press Council of India. The views expressed are his own.) India’s Prime Minister Modi is set to hold a bilateral meeting today, Wednesday, 23rd October, with Chinese President Xi Jinping (their first since the 2020 Galwan […]
After achieving about 10% growth last year, the Indian pharmaceuticals sector is again set to log a revenue growth of 8-10% this fiscal, according to a report on Wednesday.
The report by rating agency CRISIL suggested that the growth is supported by healthy exports to regulated markets, recovery in exports to semi-regulated markets, and steady domestic demand.
As many as 1,998 registrations have been issued for 184 product categories under the ‘India Handloom Brand’ for high-quality niche products with zero defects and zero effect on the environment since the launch of the scheme in August 2015, the Textiles Ministry said in a statement on Tuesday.
India’s External Affairs Minister S Jaishankar will travel to Maldives for a three-day official visit starting Friday, August 9, as both countries look afresh at the bilateral bond, following a strained relationship since President Mohamed Muizzu came to power in the strategically significant Indian Ocean archipelago in 2023.
This would be Jaishankar’s first visit since assuming the office for a second term in June. He had previously visited Maldives in January 2023.
In the 21st July print issue of The Week, there is an article by Santosh Pai titled ‘Neighbours with benefits’, below which is written ”There has never been a better time to pursue a trade deal with China”.
Mr Pai says that ”There is growing recognition that selective Chinese investments can help India achieve multiple objectives”.
With great respect to Mr Pai, I submit that he has no understanding of economic and political realities.
India emerged as the only country among the world’s top steel producing nations to post a growth in steel production during April this year, according to figures compiled by the World Steel Association.
By Justice Markandey Katju- (Justice Markandey Katju is a former Judge, Supreme Court of India, and former Chairman of, Press Council of India. The views expressed are his own) There are broadly two kinds of sciences, natural sciences and social sciences. The former studies inanimate matter ( e.g. physics, chemistry, biology, etc ) and living […]
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