News Buzz

Food Ministry releases guidelines for open market sale of Rice

Food Ministry issued guidelines for Open Market Sale Scheme of rice to states, private traders & entities engaged in ethanol production.

India to sign MoUs for imports of non-urea fertilisers

India will establish long-term agreements with Morocco and Egypt for guaranteed imports of non-urea fertilisers.

WPI inflation declines in December

The Wholesale price inflation declined to a near two year low in December 2022, on account of moderating inflation in food.

India’s smartphone shipments drop by 6% in 2022

In the last quarter of 2022, India’s smartphone shipments saw first-ever decline, falling by 27% YoY to 32.4 million units due to supply chain issues and low demand caused by global macroeconomic headwinds.

Under export advance authorization, DGFT streamlines composition fees

DGFT has announced the rules for calculating the collection fee for the extension of the export bond based on the prior authorization system.

Incorporation of new companies indicates positive sentiment

As many as 0.17 million companies were incorporated in 2021-22, the highest number ever, and this record is expected to be broken in 2022-23.

Apple becomes top mobile exporter in India

Apple overtook Samsung to become the top mobile phone exporter in India. The company recorded export of smartphones worth $1 billion from India in December.

Govt. announces rewards for boosting PoS, e-commerce via Rupay, and BHIM

The government has announced a programme to reward banks for boosting point-of-sale and online purchases made with RuPay debit cards.

Budget 2023: Oil industry expects removal of windfall tax

The Oil industry is expecting the removal of windfall taxes in Budget 2023-24, imposed after crude producers and fuel exporters recorded extraordinary profits.

New guidelines released for certification of halal meat products

The guidelines state that all meat and its products are to be exported as “halal certified” if it is produced, processed and packed under a valid certificate.

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