International media also reports on the warning from Canadian intelligence agencies about the possibility of India & China meddling in the country's elections.
Global rice prices soared to their highest level in over 15 years following India's decision last year to ban the export of white rice and impose a 20% duty on parboiled rice exports.
Rice stocks at the Food Corporation of India on 1 September stood at 32.3 million metric tons, 38.6% higher than last year, encouraging the government to consider export relaxation.
With Red Sea, critical to enter and exit Suez Canal, under attack by Yemen’s Houthi rebels, exporters are having to pay more than double to send goods to Middle East, Europe & US.
India, which accounts for 40% of world rice exports, sells the staple to more than 150 countries, including a few poor and vulnerable countries in Africa and Asia.
The ban will cut availability of rice on world markets by about a fifth, and could lead to importers seeking more govt-to-govt deals to overcome shortages and tame spiraling prices.
India has strategic interest in Nepal and Bangladesh so it is possible that export of white non-basmati rice to these countries will be allowed on diplomatic considerations.
Pierre-Olivier Gourinchas noted that these types of rice restrictions could lead to 'retaliatory measures.' He also said that global grain prices could rise by 10-15% this year.
Fauja Singh, 114, died after being hit by a speeding car. His death renews questions about India’s deadly roads, rising accidents, and poor traffic discipline.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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