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,…
Due to a drop in domestic demand, the price of turmeric is currently nearly $1,000 per quintal lower than it was last year, but export demand is keeping prices from falling even lower. The current modal price for the finer kind of turmeric in Erode, Tamil Nadu, is $6,183 per quintal, down from $7,790 during…
Tuesday, as the US dollar fell in the foreign exchange market, the rupee strengthened 15 paise to end the day at 82.16 (provisional). Global oil benchmark Brent crude futures decreased 0.42 percent to USD 77.79 per barrel. At the interbank foreign exchange market, the local unit started out at 82.20 against the dollar and ultimately…
The Agricultural and Processed Exports Development Authority (APEDA), based on input from exporters, reported that sales of millets, both domestically and internationally, have increased by approximately 30% since the designation of the International Year of Millets in 2023. The prominence of millet goods in supermarkets has also expanded, as has knowledge of millets and their…
The government-owned Food Corporation of India (FCI) announced on Monday that it has temporarily ceased selling wheat at reduced prices through electronic auctions to large groups of people, organizations, and State governments because the purchase of the new crop will start next month. In accordance with the Open Market Selling Scheme (OMSS), the FCI sold…
