Category: Business

Business

IoTechWorld bags order from IFFCO for supply of 500 agri-drones

July 10, 2023 admin

Experts say while drone applications occupy an important place in the Agriculture 4.0 vision, the innovations work best when allied with policy-level interventions to sustain the agricultural sector. | Photo Credit: KSL Agri-drone maker IoTechWorld Avigation on 10th July said it has secured a large contract from cooperative fertiliser major IFFCO for supplying 500 drones,…

Business

Union Commerce Minister Piyush Goyal to push trade deals in U.K.

July 9, 2023 admin

Piyush Goyal, Minister of Commerce & Industry. File. | Photo Credit: Kamal Narang Union Commerce, Industry and Textiles Minister Piyush Goyal is heading for a two-day visit to London, starting Monday, to take forward negotiations for bilateral trade pacts with the United Kingdom and the four-nation European Free Trade Association (EFTA) bloc. Mr. Goyal will…

Business

Russia oil discount to India shrinks to $4, delivery charges remain opaque

July 9, 2023 admin

The steep discounts on Russia crude oil that India gorged on since the Ukraine war, have plunged but the shipping rates charged by Russia-arranged entities continues to remain ‘opaque’ and higher than normal, sources said. Russia bills Indian refiners at a price shade less than the $60 per barrel price cap imposed by the West…

Business

Explained | Why are India-Russia trade payments in crisis?

July 8, 2023 admin

Oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia on June 4, 2023. | Photo Credit: Reuters The story so far: As India continues to import oil from Russia, it is getting tougher for the country to pay for it. On the one hand, it faces repercussions of breaching the oil price cap…

Business

Explained | Why is China limiting exports of raw materials?

July 8, 2023 admin

The Chinese Ministry of Commerce announced that it would implement export controls on items related to gallium and germanium. | Photo Credit: Reuters The story so far: On July 3, in what is being seen as the country’s retaliatory move in the ‘chip war’, the Chinese Ministry of Commerce announced that it would implement export…

Business

Rain, pests drain mangoes of colour, flavour in north India

July 8, 2023 admin

It’s peak mango season in north India, but varieties of the fruit arriving in the market lack taste, odour and colour. Untimely rains, hailstorms and attacks by semi-looper caterpillars are being cited as reasons for the dip in quality in both home-grown varieties such as Alphonso, Kesar, Dasheri, Chausa, Langda and Lucknowi, and hybrid ones…

Business

Data | Retail price of tomatoes more than ₹100 a kilogramme in over 50 cities

July 7, 2023 admin

Tomato inflation: The wholesale price of the tomatoes for the first-grade variety stood above Rs. 100 per kg in many parts of India by the last week of June The sudden and rapid fall in the quantity of tomatoes brought to various mandis across India in the last week of June created a demand-supply mismatch….

Business

India has highest tariffs on inputs in electronic segment among competing economies like Vietnam: ICEA study

July 6, 2023 admin

Image used for representative purpose only. | Photo Credit: K.V.S. Giri India has the highest tariffs on inputs in electronic segment among competing economies such as Vietnam and Thailand, ICEA said on July 6 citing its latest study as the industry body made a strong pitch for reduction in tariffs. The high tariffs impact competitiveness,…

Business

Finance Ministry pushes for reforms to spur FDI inflows

July 6, 2023 admin

“India needs to watch FDI data closely and continue to take measures to facilitate FDI inflows.” | Photo Credit: V. Sudershan The Finance Ministry has made a strong pitch for measures to facilitate Foreign Direct Investment (FDI) flows, that dipped last year and may remain subdued in coming months, mooting greater attention from policymakers to…

Business

India’s macroeconomic management ‘stellar’; paves way for sustained recovery: Finance Ministry report

July 6, 2023 admin

Representational image only. | Photo Credit: Twitter/@FinMinIndia “Stellar macroeconomic management in the midst of unprecedented global challenges has put India on a quicker recovery path than has been the case in other nations,” the Finance Ministry said in a report on July 6. “Investments in supply-side infrastructure have raised the possibility of India enjoying sustained…

Business