When compared to the previous season, the closing cotton stock for the 2022–23 growing season may increase by 2.5 million bales (170 kg per bale) to roughly 5.8 million bales due to lower domestic and export consumption as well as higher output driven by increased sowing area. In India, the cotton season lasts from October…
The government’s announcement to remove the export duty late on Friday was applauded by the steel sector. The tax, which had been introduced in May, was eliminated as of Saturday. According to a notification from the Finance Ministry, iron ore lumps and fines with “less than 58 percent Fe” will not be subject to export…
On Friday, the Indian rupee is anticipated to trade range-bound due to caution in the equities markets and the strength of the US dollar. The USDINR pair is predicted by analysts to trade sideways today and quote between 80.50 and 81.5. The US jobless claims, housing starts, construction permits, and Philadelphia Fed Manufacturing Index data…
By the end of September 2022, creditors, mainly banks and financial institutions, had received 2.43 billion rupees under resolution plans approved by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC). This is in contrast to the total amount of claims made by creditors, which total $7.91 lakh crore and have…
The government-run Coal India anticipates selling about 50 million tonnes through its online marketplace this fiscal year. During the first half, the coal miner had sold about 30 million tonnes via the e-auction site. “We have already completed 30 metres in two quarters. Another 50 mt ought to be there in the third and fourth…
Indian sugar mills will break their export promises, raw sugar prices in the international market reached a high of 20 US cents per pound on Tuesday night. On Wednesday, it fluctuated, falling below the 20 cent threshold before rising again. Contracts are the result of the worldwide market’s response to exporters’ guarantees that there won’t…
India’s export of goods dropped for the first time this fiscal year in October 2022, dropping 16.6% to $29.78 billion (year over year). Shipments of the most of major goods, including petroleum, gems and jewelry, engineering equipment, chemicals, textiles, and medicines, suffered. According to initial estimates issued by the commerce and industry ministry for October…
On Wednesday, gold prices held steady near a three-month high on the international markets as reports of Russian missiles killing two people in Poland increased demand for safe-haven assets, and signs of slowing US inflation increased bets for lower rate hikes. Gold was unchanged at $1,776.50 an ounce after reaching its highest level since August…
The International Monetary Fund (IMF) declared on Sunday that the outlook for the global economy is much more gloomy than it was predicted to be last month, citing a steady slide in purchasing manager surveys in recent months. According to a blog written for the G20 leaders’ summit in Indonesia, the prospects for global economic…
Retail and wholesale inflation decreased in October, according to official figures released on Monday, which is good news for both the government and the RBI. Consumer Price Index (CPI)-based retail inflation decreased to a three-month low of 6.77% in October from 7.41% in September. Based on the Wholesale Price Index (WPI), wholesale inflation decreased from…
