Economy News ( English version)

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  • Basmati prices may fall 5–10% as Strait of Hormuz closure hits exports June 21, 2026
    "After the interim (US-Iran) peace deal was announced, exporters started buying basmati rice in good quantities for shipment to the Middle East and prices surged 15-20%. But this sudden announcement will bring down prices," said Dev Garg, vice-president, Indian Rice Exporters Federation.
  • Nearly 12 ships carrying fertiliser cross Strait of Hormuz June 21, 2026
    At the onset of the Iran war, eight urea, four diammonium phosphate (DAP), one ammonia and three sulphur vessels bound for India were stranded in the strait.
  • PSBs told to tighten scrutiny of government accounts amid fraud concerns June 21, 2026
    In response to a staggering ₹590 crore fraud uncovered in Haryana government accounts, the finance ministry has mandated that public sector banks must enhance their security measures. Banks are urged to conduct thorough reviews of their current practices, adopt more stringent Standard Operating Procedures, and strengthen security protocols to avert any futur […]
  • FTA map: Mega FTA wave to bring 60% of India trade under preferential regime June 21, 2026
    With the UK deal kicking in next month, an EU pact likely next year, and a US agreement in the works, over 60% of India’s trade will soon fall under preferential terms.
  • UK FTA calls for standards upgrade: Experts June 21, 2026
    Indian exporters must elevate product standards and meet UK regulations to fully leverage the upcoming India-UK free trade agreement, effective July 15. Experts urge the government to launch nationwide outreach programs, mirroring UK efforts, to equip domestic industries. This proactive approach will help businesses transform the agreement's potential i […]

 

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