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India's urad imports have surged by 19% in the 2023-24 period, reaching 6.23 lakh tonnes due to a decrease in domestic supplies caused by erratic weather affecting both kharif and rabi output. Brazil and Argentina are expanding their black matpe cultivation, potentially becoming major suppliers to India, which has traditionally relied on Myanmar for urad. The India Pulses and Grains Association has forecasted a significant increase in imports from Brazil, with expectations of 50,000 tonnes of black matpe arriving from June-July. Despite the production shortfall, urad prices have remained stable, with imported urad prices in Chennai at ₹8,950 per quintal for FAQ quality and ₹9,550 per quintal for SQ quality. The duty-free imports of urad have been extended until March 31, 2025 to address pulses inflation. 
GST authorities are grappling with taxation and registration issues surrounding shared warehouses used by e-commerce companies for last-mile delivery. The problem arose when multiple suppliers tagged the same warehouse as their 'additional place of business' under GST rules, potentially leading to fraudulent registrations. Officials are exploring the concept of a 'shared workplace' for these warehouses to address the issue. The Central and state GST officers discussed this matter earlier this month, with plans to present the idea to the GST Council. Industry experts emphasize the need for a refined tax system to differentiate between warehouses and individual taxpayers to prevent undue scrutiny and ensure accurate risk assessments by tax officers. Geo-tagging has been implemented to pinpoint the exact locations of registered taxpayers, highlighting the importance of resolving this challenge at the industry level.
In Mangaluru, the Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) is focusing on stabilizing the cocoa market amidst fluctuations in international prices. Campco offered ₹220 a kg for wet cocoa beans and ₹700 a kg for dry beans, aiming to support domestic growers. Despite volatile international cocoa prices, Campco remains committed to stabilizing the market by maintaining steady prices and supporting growers. The lack of liquidity and low open interest in the cocoa market have magnified price movements, with traders closely monitoring crop conditions in Ivory Coast and Ghana. As the procurement season nears its end, Campco continues its efforts to stabilize prices and support cocoa growers in the domestic market.
Japanese firms Hitachi and Kawasaki have shown interest in supplying 'Shinkansen' train sets for India's Mumbai-Ahmedabad High-Speed Rail project, with discussions underway for modifications to suit Indian conditions. The consortium is proposing changes to the design to address factors like cost, weather conditions, and the need for bio-toilets. The trains will be adapted to operate in temperatures up to 50 degrees Celsius and accommodate 690 passengers. The National High-Speed Rail Corporation Ltd plans to procure 18 bullet trains based on Japan's E5 Shinkansen technology, with completion of 40% of the project reported so far. Railway Minister Ashwini Vaishnaw shared updates on the project's progress, with the first phase expected to be commissioned in July 2026.
The agriculture and allied sectors in India have seen a significant decline in their contribution to the economy over the years, despite remaining vital due to their magnitude. The sector's Gross Value Added (GVA) surpasses the GDP of several countries, highlighting its importance. However, the sector lags in productivity compared to global counterparts, with limited access to inputs, lack of awareness about soil testing, and inefficient processes being key issues. Private market investments play a crucial role in addressing these challenges, with a focus on upstream activities like agri-biotech and innovative farming techniques being essential for long-term sustainability and resilience. To unlock the sector's true potential, a long-term approach involving targeted investments and concerted efforts is necessary to empower farmers and ensure sustainable agriculture for future generations.
The National Skill Development Corporation (NSDC) and AVPL International have joined forces to establish 70 skills and incubation hubs across India, focusing on drone, IoT, agriculture, and allied sectors. These hubs will offer certificate courses from prestigious institutions like the IITs and IIMs, in collaboration with the NSDC Academy, aiming to empower Indian youth with the skills necessary for global employment opportunities. The initiative, which aims to train 1,40,000 candidates annually, will provide advanced training facilities and internationally recognized certification programs, enhancing vocational training in the country. Both NSDC CEO Ved Mani Tiwari and AVPL International's Founder Deep Sihag Sisai expressed enthusiasm for this partnership, which seeks to elevate the local workforce and position India as a leader in global skill development.
Agri start-up eFeed has been selected as one of the top eight startups in the 5th cohort of AgFunder's GROW Impact Accelerator in Singapore. The company focuses on reducing methane emissions from cattle through precision animal management and nutrition, utilizing artificial intelligence and smart technology. With a database of over 100,000 animal data points, eFeed aims to optimize yields and address environmental concerns. The accelerator program aims to bridge the gap between finite resources and the 2030 Sustainable Development Goals, emphasizing innovative agrifood technologies. CEO Kumar Ranjan expressed excitement about the opportunity to showcase eFeed's technology, which leverages farmers' smartphones for data collection to reduce emissions and improve yields. The program includes a $100,000 investment, mentorship, and networking opportunities, culminating in a demo day during the Singapore International Agri-Food Week in November 2024.
A recent study by the State Bank of India's economic research department has revealed that for every 100 additional male voters in the first four phases of the 2024 General Elections in India, there were 110 additional female voters, indicating a significant increase in female participation. This surge in female voters has been attributed to women-centric schemes such as Ujjwala Yojana, Matru Vandana Yojana, and PM Awas Yojana, which have had a positive impact in rural areas. The study also noted a total of 45.1 crore voters casting their votes in the first four phases, with a voter turnout of 66.95 per cent. The analysis predicts an overall voter turnout of around 67.5 per cent for this Lok Sabha election, with women voters playing a crucial role in shaping the political landscape.
Despite the Power Ministry's directive against taxing renewable energy, the Kerala State Electricity Board (KSEB) has raised charges, causing financial disincentives for solar adoption. The move has been criticized by domestic solar power producers in Kerala, who argue that it goes against efforts to promote renewable energy adoption. Solar Prosumers-Domestic Only, a community advocating for solar power prosumers, has proposed solutions to address the challenges faced by consumers, including reframing the fixed charge system and adjusting the annual settlement month for solar energy prosumers. With over 1.20 lakh solar power prosumers in Kerala, the community recommends a multi-pronged approach to encourage continued participation in the solar energy program, such as adjusting the average power purchase cost rate and implementing incentive programs. Founder Jameskutty Thomas believes that by addressing these challenges and incentivizing renewable energy adoption, Kerala can reduce grid load, lower operational costs, and contribute to environmental sustainability.
Tea prices at the Kochi auction have seen a boost due to active participation from exporters and strong overseas demand, with orthodox tea prices rising. In sale 20, the average price realization increased to ₹177 from ₹172 the previous week, with exporters from CIS and Middle East countries showing interest. The auctioneers Forbes, Ewart & Figgis reported that 91% of the offered quantity of 1,14,678 kg was sold. CTC leaf also saw a strong demand, with a 100% sales percentage out of the offered quantity of 20,500 kg. The dust market remained strong, with a 94% sales percentage out of the offered quantity of 5,49,179 kg. Exporters were actively participating in the orthodox dust market, with primary grades seeing higher prices and secondaries lower.
Finance Minister Nirmala Sitharaman has reassured that the inclusion of Indian bonds in global indices will not pose significant challenges, stating that it will not make life difficult. In an interview with BusinessLine, she emphasized the importance of oversight to ensure that fluctuations do not have a negative impact on the country's financial stability. Sitharaman highlighted that the decision to open up to global indices was made after extensive discussions and groundwork, including consultations with the Reserve Bank of India. She expressed confidence in the decision-making process and stated that she is not particularly worried about the potential consequences. The Finance Minister's comments come amidst concerns about the impact of sudden dollar inflows on the Indian economy.
