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.
Even as rice prices have risen 11% year-on-year in July, the government has taken several steps in last few months to cool inflation in the key food grain.
The price of Indian rice exports has jumped 9% to a five-year high, following a hike of 7% last month in the price the government pays farmers for new-season common rice.
PB 1121 Basmati rice has become prone to diseases, leading to increased use of chemicals by farmers. But high level of fungicide residue has led EU importers to reject consignments.
Following requests, India would allow exports to Indonesia, Senegal and Gambia in 2023-24. It also approved request from Nepal and allowed exports in current financial year.
In the first eight months of the current fiscal year, New Delhi’s net tax intake didn’t even hit the halfway mark of what it expects to collect by March 31.
As Visakhapatnam readies a mega airport, the Andhra Pradesh government has revived its shelved Dagadarthi project, aiming to boost cargo and connectivity on the south coast.
Speaking at annual press conference, Army chief reiterated that India does not recognise 1963 Sino-Pakistan border pact under which Pakistan illegally ceded Shaksgam Valley to China.
UK, EFTA already in the bag and EU on the way, many members of RCEP except China signed up, and even restrictions on China being lifted, India has changed its mind on trade.
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