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   Recently India has banned the export of Non-Basmati White Rice.   As a result, food crisis may occur in many countries in the world.   Because many countries of the world including USA, Europe are dependent on India for high quality rice.                                           Experts fear that global food crisis may occur due to India’s banning rice export. IMF or international monetary fund came forward to solve this situation.   They said they would request India to lift the ban on rice exports.   IMF chief Pierre-Olivier Gourinchas said, 'I will request India to withdraw this decision.   Otherwise, it will have a bad effect on the whole world.” Financial experts claim that, inflation will also have a serious impact on America, Britain, Canada, and...

  India ranks first in rice exports in the world market. India accounts for 40% of total rice exports. India exports rice to most of the countries including USA, Europe. Recently on 20th July 2023, Government of India imposed a ban on the export of non-basmati rice. As a result, NRIs in the USA are panicking. And they are flocking to grocery stores to stock up on rice.          Due to erratic weather conditions the move is said to have been taken by the Indian government to curb the increase in domestic rice supply and prices due to a decline in rice production in India. There are currently over 40 lakh Indian expatriates in the USA. The staple food of those who are more fortunate is rice, Idle etc. which are made from rice. Sona masuri rice is also in high demand in most cities in the USA. Due to this ban, NRIs in the USA rush to buy rice at various grocery stores. Shop owners have also increased the price of rice on the occasion. Earlier where a bag of ri...

  There was a  time when  rice and wheat used to come to India from America.  The ships used to load rice and wheat unfit for consumption of the people of that country in the port of India.  The people of this country tried to survive by eating that rice and wheat.  The people of this country have been eating that rice-wheat rice-bread that is unfit for US citizens to eat.  It is in America that there is now a clamor for Indian rice.   No more rice can be exported except Basmati, the Indian government has imposed this ban from Thursday, July 20. In this case also one thing is clear that the Government of India has banned the export of non-Basmati white rice only.  But there is no ban on export of parboiled rice.  This issue has also been disclosed in a statement by the government late on Thursday, July 20.  As a result, there is no obstacle for all the exporters who export parboiled rice.   The government said in a statement...

 According to the 2023 fiscal year survey, the US stands as India's largest trading partner, recording $128.78 billion. And China is in second position. India's exports to the US increased by 2.81% from 2022 to 2023 to reach $78.54 billion. Whereas in 2021-22 it was 76.11 billion dollars. And Imports with the U.S. rose nearly 6% to $50.24 billion. In 2021-22 it was $43.31 billion. This improvement has led to increased bilateral trade and increased economic relations between the two countries. On the other hand, India's bilateral trade with China is decreasing every year. Trade was $113.83 billion in 2021-22, which declined by 1.5% to $115.42 billion in 2022-23.  The economic partnership between India and the US has seen significant progress in recent years. Trade production in USA to become India's largest trading partner in FY 2023. This resulted in bilateral trade value of US$128.78 billion in 2023. In recent years, India has accelerated its inter-island trade with th...

 Sri Lanka has no objection to the use of the Indian Rupee in Sri Lanka's trade with India. In 2022, Sri Lanka was troubled by loans from China. At that time India helped Sri Lanka 400 core dollars which is 32000 crore rupees in Indian value. Sri Lankan President Ranil Wickremesinghe thanked the Indian government for this and agreed to trade with India in Indian currency. He said, we have no objection on uniform use of Indian currency. Such a message is considered significant ahead of plans to tour India this year.        Besides, Sri Lankan Foreign Minister Ali Sabry, who is visiting India, spoke about increasing the use of the Indian currency in comparison to the dollar in trade at a businessmen's conference. In the last year 2022, Sri Lanka suffered severe financial crisis. There was great anarchy throughout the country, and the prices of daily necessities rose steadily. In that situation, mass protests broke out across the country, forcing the then President...

  Bangladesh started foreign trade with India in Indian rupees.  Bangladesh is suffering from dollar crisis for almost a year.  There is a danger that the economy of Bangladesh will collapse.   Many experts fear that Bangladesh's economic situation may resemble that of Sri Lanka, citing Sri Lanka's deep economic crisis as an example.  In order to get rid of this situation, Bangladesh started trading with India in Indian rupees to keep the country's import system running.  The initiative was officially launched on Tuesday, July 11 at a ceremony in Dhaka.  Indian Ambassador to Bangladesh Prannoy Verma was present on the occasion.  As a result, India-Bangladesh foreign trade will be facilitated and Bangladesh's trade deficit will be reduced, he expressed hope.  According to international relations experts, over-dependence on China has weakened Bangladesh's economy.  Leaving a true friendly country like India away, China has stepped int...

 India has started thinking about imposing a ban on the export of rice to the world market due to the fear of price inflation.  The world's largest rice exporter is considering banning the export of all types of rice except Basmati, according to a Reuters report on Thursday. As a result of this move by the Indian government, the price of rice, which has already skyrocketed in the global market, may increase further.  People involved in the matter say the government is discussing a plan to ban the export of all types of rice other than Basmati.  This is because of the price increase in the domestic market and the authorities want to avoid the risk of inflation.   If this decision of India is implemented, about 80 percent of the country's rice exports will be blocked.  Such a move would help bring down prices in the domestic market, but risk a further jump in global rice prices.  Rice is the staple food of nearly half of the world's population....

Mainly USA Dollar is used in world trade. But India is currently moving towards trading in Indian currency. At present 18 countries of the world have recognized Indian currency for trade. Russia and Moscow are the first foreign countries to step on this matter, and the others countries are Malaysia, United Kingdom, Singapore, New Zealand, Sri Lanka, Myanmar, Botswana, Israel, Fiji, Germany, Guyana, Kenya, Mauritius, Oman, Seychelles, Tanzania, Uganda. India's neighbour countries like Bangladesh and Nepal also have a shortage of dollars for trading. According to a report in the news agency in ROITERS: Tajikistan, Cuba, Luxembourg City, Sudan now are discussing with India about using this currency system. These four countries have shown interest in opening special currency accounts called Vostro Accounts. RBI has already approved Mauritius and Sri Lanka to open Vostro account. Impact of India Currently, the world’s largest reserve currency is the US dollar. So, most of the transa...

Bangladesh is India's biggest trading partner in the subcontinent and India is the second biggest export partner accounting for 12% of the total exports to Bangladesh. The total trade turnover in 2021-2022 touched US$18.2 billion. Exports readymade garments, jute and jute products, plastics, light engineering machinery, consumer goods from Bangladesh to India. About $2 billion dollars worth of goods are exported from Bangladesh to India. Inda’s international trade is increasing despite various uncertainties in the global economy. According to a report by the Economic Times, India’s will be around $340,000 crore by the end of the financial year. It will account for 48% of foreign trade. Ajay Srivastava, co-founder of the Global Trade Research Initiative, said on increasing the share of trade in GDP, this is a sign of the urgency with which India opened up the market to the world. Bangladesh is India’s fifth largest export destination. Although Bangladesh has a much smaller econom...

India is the largest Basmati rice producing country in the world. In India, basmati rice is mainly cultivated in Jammu and Kashmir, Himachal Pradesh, Punjab, Haryana, Delhi, Uttarakhand and West Uttar Pradesh. India is the largest Basmati rice exporter in the world tread. India's basmati rice is in high demand in world trade due to large quantities of basmati rice exported from India. Iran is one of the largest importer of India’s basmati rice. Iran imports about 1.5 million kg of basmati rice from India every year. Iran also imports tea and others agriculture products. Currently Iran is reducing its Basmati rice imports from India due to US sanction. India used to import unrefined oil from Iran until 2019. These imports and exports between India and Iran were in Indian currency. India used to buy unrefined oil from Iran in exchange of Indian currency. Iran used to import basmati rice, tea and other goods from India in exchange for that Indian currency. But in may 2019 , due to U...