Skip to content
Search

Latest Stories

India’s agricultural products export rise 17.34 per cent in 2020-21

INDIA’S export of agricultural and allied products grew 17.34 per cent in 2020-21 to $41.25 billion (£29.17bn) a top government official said on Thursday (10).

Increased overseas shipments of cereals, non-basmati rice, wheat, millets, maize and other coarse grains boosted overall exports this year, said commerce secretary Anup Wadhawan.


Exports of only agricultural products (excluding marine and plantation products) surged 28.36 per cent on year to $29.81bn (£21bn) in 2020-21.

"Agriculture exports have performed well during 2020-21... after remaining stagnant for the past three years," Wadhwan said.

The largest markets for India's agricultural products are the US, China, Bangladesh, UAE, Vietnam, Saudi Arabia, Indonesia, Nepal, Iran and Malaysia.

To increase India’s share in the global market, 18 states in the country have finalised their action plan to implement an agri export policy, under which 46 unique product-district clusters have been identified for export promotion.

India recently gained market access for pomegranate in Australia; mango and basmati rice in Argentina; carrot seeds in Iran; wheat flour, basmati rice, mango, banana and soybean oilcake in Uzbekistan; tomato, okra and onion in Bhutan; and oranges in Serbia.

Meanwhile, India’s basmati exports to the European Union were hit because of stringent pesticide residue norms for chemicals like tricyclazole and buprofezin.

The two chemicals are extensively used in rice cultivation in India.

To counter this problem, the government has made Export Inspection Council (EIC) testing mandatory for exports to the EU.

Punjab imposed a ban on the sale of nine chemicals, including tricyclazole and buprofezin, during the 2020 sowing season.

More For You

Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Keep ReadingShow less
Trump-Getty

Trump said that while deals are being made with some countries, others may face tariffs.

Getty Images

Trump says major trade deal with India may be finalised soon

US PRESIDENT Donald Trump on Friday said a "very big" trade deal could be finalised with India, suggesting significant movement in the ongoing negotiations between the two countries.

“We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India," Trump said at the “Big Beautiful Bill” event at the White House.

Keep ReadingShow less
Asda suffers nearly £600m loss as debt and IT costs surge

Asda co-ownerMohsin Issa. (Photo: Asda)

Asda suffers nearly £600m loss as debt and IT costs surge

ASDA, one of Britain’s largest supermarkets, has reported a pre-tax loss of £599 million for 2024, swinging sharply from a £180 million profit the previous year.

The loss comes despite total sales rising by over £1 billion to £26.8bn, as the retailer faces mounting debt costs, falling sales, and spiralling spending on a major IT overhaul, the Telegraph reported.

Keep ReadingShow less
Mounjaro

Mounjaro, or tirzepatide, is part of a new class of weight-loss medications, with trials showing patients losing an average of 20 per cent of their body weight after 72 weeks.

Reuters

Lilly to sell Mounjaro pens in India as Wegovy enters market

ELI LILLY said on Thursday that it has received approval from India's drug regulator to launch pre-filled injector pens of its weight-loss drug, Mounjaro.

The move gives the company more options to compete with Novo Nordisk, which recently launched its weight-loss drug Wegovy in the country.

Keep ReadingShow less
Grant Thornton's Anuj Chande urges UK firms to tap booming India

Anuj Chande

Grant Thornton's Anuj Chande urges UK firms to tap booming India

INDIAN companies are well placed to support the UK’s economic growth, Eastern Eye has been told by Anuj Chande, partner and head of the South Asia Business Group at Grant Thornton.

He was speaking after the publication of Grant Thornton’s India Meets Britain Tracker 2025: The latest trends in Indian investment in the UK, which was released last week. While companies in India need little encouragement to enter the UK market, the reverse is not true.

Keep ReadingShow less