22 May, 2024 News Image GDP likely expanded 6.8% in Q4; FY24 print may hit 7.8%.
The Indian economy likely grew a better-than-expected 6.8% in the last quarter of FY24, according to the median forecast of a poll of 15 economists, propelled by strong growth momentum and strengthening demand.
The strong March quarter print could lift overall gross domestic product (GDP) growth for the full fiscal year to 7.8% against 7.6% assessed in the government's first advance estimates released in February.

 Source:  economictimes.indiatimes.com
21 May, 2024 News Image Establishment has discretion to select method for display of info, clarifies FSSAI.

The FSSAI has issued a clarification with regard to display of information such as declaration of calorific value, allergen and nutritional information by Food Service Establishments and said that such establishment has the discretion to select the method for display of such info.


 Source:  fnbnews.com
21 May, 2024 News Image Chabahar Port pact: PM Modi says India will ensure regional connectivity, trade and commerce .

Prime Minister Narendra Modi called the Chabahar Port pact between India and Iran an important milestone. He said that the trilateral treaty between India, Iran and Afghanistan was signed to provide much-needed connectivity to Afghanistan.


 Source:  businesstoday.in
21 May, 2024 News Image India, Eurasian Economic Union to soon start FTA negotiations.
India will soon start negotiations for concluding a free trade agreement (FTA) with Russia-led Eurasian Economic Union (EAEU) that will give the country a smooth access to markets of five resource-rich post-Soviet states.
 

 Source:  economictimes.indiatimes.com
21 May, 2024 News Image India calls for details on ambit of proposed EU deforestation norms.

India has sought information from the European Union about its proposed regulation that seeks to benchmark exporting countries as low or high risk basis deforestation levels. The EU's deforestation-free product regulation has implications for India's coffee, cocoa, soya, wood products, rubber and its products, and leather goods exports.


 Source:  economictimes.indiatimes.com
21 May, 2024 News Image Forging Partnerships: Exploring the India-Central Asia Business Conclave; India-EAEU FTA Talks to start soon.

At the recently concluded India-Central Asia Business Conclave in Pune, the focus was on the prospects of cooperation within the framework of the Eurasian Economic Union (EAEU) and India.


 Source:  financialexpress.com
21 May, 2024 News Image Renew the generalised system of preferences.

In the pantheon of obscure international trade terminology, the 'generalised system of preferences,' or GSP, has a special place. GSP refers to an approach that has been adopted by nearly all developed countries for roughly the last half-century to offer incentives for economic reform in developing countries through lower tariffs.


 Source:  thehindu.com
21 May, 2024 News Image DAHD and UNDP signs MoU on Digitalization of Vaccine Cold Chain Management, Capacity Building, and Communication Planning.
The Department of Animal Husbandry & Dairying (DAHD), Ministry of Fisheries, Animal Husbandry & Dairying signed a Memorandum of Understanding (MoU) today with the United Nations Development Programme (UNDP) India on Digitalization of Vaccine Cold Chain Management, Capacity Building, and Communication Planning.
 

 Source:  pib.gov.in
21 May, 2024 News Image Govt mulls new farm law to facilitate inter-State agriculture produce sale.

The Centre is considering a new farm law that will take care of inter-state trading and help farmers sell their produce online at distant places, outside their State boundary. The plan is to set up an independent regulatory authority to frame rules and regulations, including fees, for facilitating all inter-state trading. However, the trade within the state will be untouched and the local government will have complete control over it, sources said.


 Source:  thehindubusinessline.com
21 May, 2024 News Image India poised to surpass last year's wheat procurement record.
Government agencies are set to exceed last year's wheat procurement figure of 262 lakh tonnes in the coming days, with current purchases reaching around 261 lakh tonnes as of Saturday. However, the total is expected to fall short of the initial estimate of 300-310 lakh tonnes.
 

 Source:  economictimes.indiatimes.com