Sunil Barthwal, India’s secretary of commerce, stated on Friday that his country is willing to conduct business in dollars with nations who are having problems with their currencies or are short of dollars. The secretary also stated that the government is concentrating on improving the rupee payment system after the announcement of the Foreign Trade…
Yesterday, Jeera prices increased as poor weather conditions hindered supply from the key producing areas, and they eventually decreased by -1.05% to end at 35430 on profit taking. This year, jeera production is down, demand for exports is up, and there is a shortage in stocks. Gujarat has seen an increase in cumin harvests over…
Gold prices were unchanged on Friday, maintaining their proximity to the important $2,000 mark following wild swings this week, but safe-haven demand in the face of a potential banking crisis has left the yellow metal on track for a significant increase this quarter. Prior to staging a rebound on Thursday, when higher-than-expected U.S. jobless claims…
The world’s second-largest consumer of crude oil, China, saw an increase in manufacturing activity on Friday morning, which helped lift confidence. At the same time, fears over Middle Eastern supply also increased. Brent futures, up almost 6% this week, were up 15 cents, or 0.19%, at $79.42 per barrel. After increasing by approximately 8% this…
According to a research, the auto parts industry’s sales are expected to climb by 58% in FY24, driven by higher domestic demand. With greater premiumization of automobiles, an emphasis on localization, and enhanced export and regulatory standards, the industry is anticipated to reach revenues of over 2.5 lakh crore. The sector’s income increased by more…
On Wednesday, gold prices fell as investors gradually retreated into riskier investments, hoping that the risk of the global banking crisis spreading had been temporarily contained. At $1,965.89 per ounce, spot gold was trading 0.4 percent lower. U.S. gold futures decreased 0.3 percent to $1,967.50. According to independent analyst Ross Norman, gold has dropped as…
The government has begun buying 10,727 metric tonnes of wheat for the Rabi marketing season 2023–2024 as opposed to buying nothing last year, the food ministry announced in a statement on Tuesday. The food ministry noted in a statement that “according to the most current reports from FCI field offices, the recent rains have not…
The price of oil held steady in early Asian trade on Thursday as a smaller-than-expected reduction in Russian supplies and a stronger dollar countered an unexpected decrease in U.S. crude oil stocks that had buoyed prices. The price of Brent crude futures was unchanged at $78.28 per barrel. To reach $72.91 a barrel, West Texas…
The second round of the production-linked incentive (PLI) plan for the solar industry has awarded contracts to up to 11 businesses, including Reliance, ReNew, Indosol, First Solar, Tata Power Solar, and Avaada, for solar photovoltaic (PV) manufacturing projects totaling 39,600 MW capacity. The positive tender response is anticipated to support India’s aspirations to establish a…
At the current minimum support price during the rabi procurement season, the government agencies have so far purchased more than 2.48 lakh tonnes of gramme (chana) (MSP). Maharashtra, Karnataka, Gujarat, and Andhra Pradesh are in the middle of their Rabi purchase for gramme. In the major producing states of Madhya Pradesh, Rajasthan, and Uttar Pradesh,…
