(Bloomberg) Last year, Prime Minister Narendra Modi said India could feed the world. This year, the world’s top rice exporter is instead curbing grain sales, rushing to ease rising food inflation at home as next year’s general election approaches.Most Read from BloombergEveryone Wants to Work at UPS After Teamsters DealWeWork Tumbles After Raising ‘Substantial Doubt’ About FutureUS Bank Shares Drop as Moody’s Cuts Ratings, Warns on RisksWall Street WhatsApp, Texting Fines Exceed $2.5 BillionT
India has been forced to curb grain sales and is preparing to import wheat to ease food inflation ahead of next year s general elections. Rice exports have been banned and the government is curbing sales of other grains, adding to the global supply squeeze. The government may scrap a 40 per cent tariff on wheat, which would pave the way for India to import substantial volumes for the first time since 2017.
India s grain stockpiles crucial to PM Modi s pre-election strategy business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
India s annual wholesale
prices fell for the third successive month in June, mainly due
to lower fuel and power prices, government data showed on
Friday. The wholesale price index in.
India s soaring prices of tomato, onion and pulses are prompting concerns over a hike in retail inflation, adding to predictions of hawkish decisions by the Reserve Bank of India for the rest of 2019. After slowing down for four months, consumer price inflation could have risen to 4.6% in June, according to economists via a Bloomberg survey, compared to May s low reading of 4.25%.