The Indian government has lifted the export ban on broken rice, imposed in September 2022, to boost shipments and due to rising inventories. This follows the removal of the minimum export price and previous bans on non-basmati white rice amid sufficient domestic stocks and stable retail prices.
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India's gems and jewellery sector is highly dependent on exports, with the US being a major market. In FY 2023-2024, India's total exports of gems and jewellery stood at $32.85 billion, with $9.95 billion directed to the US, accounting for 30.29% of the sector's exports.
Microsoft-backed OpenAI's chief Sam Altman is planning a trip to India on February 5, which may include meetings with government officials. This visit comes amidst ongoing legal challenges in the country, including a lawsuit over copyright breaches filed by a news agency and supported by several media outlets.
India’s low volume of goods exports to the US offers a buffer against trade tensions due to Trump's tariff moves, with strong services exports and supportive domestic policies enhancing resilience. Economic recovery strategies include increased government spending, eased monetary policies, moderated food inflation, and robust services exports driving growth, says Morgan Stanley.
Intel appoints veteran Lip-Bu Tan as CEO amid efforts to reclaim its industry dominance. Tan, known for doubling revenue at Cadence Design Systems, faces the challenge of reversing Intel's financial struggles and keeping up with competitors like Nvidia. He starts his role in 2025.
India views the USA's announcement of 26% reciprocal tariffs as a 'mixed bag' rather than a 'setback.' The imposition includes a universal 10% tariff on all imports starting April 5, with an additional 16% from April 10. Discussions on a bilateral trade agreement between the two nations continue, aiming for completion by fall.
The IMF maintains India's growth forecast for 2024-25 at 6.5% despite a sharper-than-expected deceleration in industrial activity. Calls for measures to boost consumption persist amid global uncertainty. The IMF aligns with the World Bank's estimate, recognizing India's tag as the fastest-growing major economy.
Budget 2025 expectations: Gold traders, including jewellers and bullion sellers, hope Finance Minister Nirmala Sitharaman will enable middle-class purchases of gold via EMI and fund artisan upskilling in the Union Budget 2025.
India witnessed a record Rs 1.6 lakh crore raised through 90 IPOs in 2024, driven by robust economic growth and favorable market conditions. Hyundai Motor India's IPO led the charge, raising Rs 27,870 crore. Experts predict 2025 could surpass this record, with a potential Rs 2.5 lakh crore raised from upcoming IPOs, including HDB Financial Services and LG Electronics India.
Small finance banks (SFBs) are projected to experience slower growth of 18-20% in FY2025, down from 24% in FY2024, due to rising delinquencies and asset quality issues. The GNPA ratio in the microfinance segment is expected to increase, and funding pressures with higher deposit competition may affect profitability.
Bitcoin soared to a new all-time high, fueled by President-elect Trump's pro-crypto stance and MicroStrategy's inclusion in the Nasdaq 100. MicroStrategy's recent $1.5 billion Bitcoin purchase and Trump's support for a national Bitcoin reserve boosted investor confidence. This positive sentiment drove Bitcoin's seven-week winning streak, its longest since 2021, and increased demand for crypto ETFs.