Ram Vilas Paswan
'Global plant-based food market expected to reach $77.8 bn by 2025'
Noting that the plant-based foods industry offers a major opportunity to address climate change, food insecurity, and malnutrition, and public health risk (including pandemics and antimicrobial resistance), a newly-formed body said it can be a major industry catering to both domestic and global markets.
Ukraine conflict spreads panic waves through world of commodities
Commodity prices were already on a steady rise in 2021 and early 2022 thanks to the loose monetary policies several leading countries adopted during the Covid-19 pandemic. However, the Ukraine–Russia conflict that broke out on February 24 has spread panic waves through the world of commodities and resulted in an all-out commodity price shock globally.
Ukraine crisis may hit India's global semiconductor hub dream
The government recently set up the India Semiconductor Mission (ISM) and approved Rs 76,000 crore ($10 billion) for the development of semiconductors and display manufacturing ecosystem in the country. The Rs 76,000 crore Production-Linked Incentive (PLI) scheme will be spread across six years. As part of the scheme, incentives worth Rs 2.3 lakh crore will be provided to position India as a global hub.
Countries like India with large forex reserves will closely watch freeze on Russia's $643 bn reserves
There is an air of Western triumphalism in the air as regards the effectiveness of Western sanctions against Russia, most particularly the freezing of Russia's $643 bn of foreign reserves, Wood said in his commentary, Greed and Fear.
Russia-Ukraine crisis to widen India's CAD
Geopolitical risks emanating from the Russia-Ukraine conflict is expected to push India's import bill higher. Consequently, the trend will widen the country's Current Account Deficit. The crisis is expected to increase prices of mineral fuels and oils, gems and jewellery, edible oils and fertilisers. At present, India has a significant import dependence for these items.
India worried about Russia-Ukraine conflict impact on exim trade: FM
Interacting with the industrialists and businessmen here, she said that the Centre is closing monitoring the situation as it is worried about the impact of the war on Indian exports and imports. Sitharaman said she would be in a position to comment only after a complete assessment of the situation is made by different ministries.
WTO to hold ministerial meeting in mid-June
According to a WTO press release, the decision was taken by the organisation's General Council following the easing of the Covid-19 restrictions in the host country Switzerland. The exact dates of the meeting will be specified later.
Russia-Ukraine crisis boosts gold, crude oil prices
As global equity indices slid, commodities, including crude oil, surged as geopolitical risks over Ukraine rippled through global markets. The Brent-indexed Crude oil prices crossed $96 per barrel, the highest in seven years.
US trade deficit hits record high in 2021
US imports rose by 20.5 percent to $3.39 trillion in 2021 while exports climbed by 18.5% to $2.53 trillion, according to the department. The trade gap represented 3.7% of US gross domestic product in 2021, up from 3.2% in 2020, Xinhua news agency reported. "A surge in imports to fuel domestic demand for goods caused the trade deficit in goods and services to widen 27% in 2021 and reach its largest annual deficit on record".
China-backed Pak being set up as challenger to India in auto components, textiles
"Of course, some may argue that there is still a considerable gap between India and Pakistan in terms of manufacturing strength, but with the improved BRI connectivity as well as the steadily growing investments by Chinese companies in Pakistan, the South Asian nation is well poised for a rapid facelift," the Global Times said in a report.
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