In 2004-05, lack of information on private trade contracts resulted in much larger quantities of wheat exports than intended. India had to import for years to make up.
While documentation about barter treaty is sparse, it was inked in 1949 when India, a leading commercial producer of jute, was experiencing a food crisis.
Rising wholesale prices are signs that traders are estimating a lower crop size for wheat and buoyant exports. It can worsen with Indonesia's ban on palm oil.
India is the world’s second-largest wheat producer after China, but a high consumption base has seldom allowed it to be a big exporter. This can change, at least in this year.
Ukraine and Russia together account for over a quarter of global trade of wheat. The war has closed major ports in Ukraine, and severed logistics and transport links.
About 30-40 Afghan trucks will be crossing over from Pakistan to India Monday night and will leave for Afghanistan after the loading of 10 MT of wheat is complete .
Industry insiders say any rise in duties on Indian generics will squeeze profits for Indian companies, but will also make the drugs costlier for patients in US.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
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