India's presidency in the G20 is seen as an opportunity for the country to strengthen trade ties and attract investments from member nations, particularly in sectors like infrastructure. Experts believe that the G20 plays a strategic role in global economic growth and prosperity, as its members represent a significant portion of global GDP, trade, and population.
India's restrictions on rice exports have caused panic in the global market, with rice prices in Asia nearing a 15-year high. The anxiety over supply is justified as rice is a vital food source for billions of people. The onset of El Niño threatens to further disrupt the market, and if Thailand and Vietnam follow India's lead in imposing export controls, world rice prices could surpass $1,000.
Walmart has spent $3.5 billion this year to increase its stake in Indian business Flipkart to 80.5%, underlining the aggressive bets the United States-based retailer is making in the country, which it counts as one of its key markets.
Expecting a bumper festival season, car and SUV makers reported an all-time high vehicle dispatch to dealerships on volumes estimated at 3.6 lakh units, surpassing the previous record of 3.5 lakh units achieved in September last year. The record number comes in as production at top car companies such as Maruti Suzuki, Hyundai and Mahindra improves, while demand on the consumer side continues to remain strong. Tata Motors was the only company to see a decline in numbers.
The country’s economic growth in the April-June quarter of the current fiscal year touched a four-quarter high on the back of robust performances by services, farm, manufacturing and mining sectors and a favourable base, but patchy monsoon rains and a global slowdown could hurt expansion in the months ahead.