Economy

The Economic Survey 2017-18 stated that Indian tractor industries have emerged as the largest in the world and account for about one-third of total global tractor production. Budget 2022 proposed to phase out the concessional rates in capital goods and project imports gradually. This is another step towards creating level playing field for domestic manufacturers and capacity creation in the sector which includes tractors.

Indian Sugar Mills Association (ISMA) stated that the YoY production of sugar rose 5.6% till 31st January, 2022. According to ISMA, 507 sugar mills were operating in the country on January 31, 2022, producing 187.08 million tonnes of sugar. That is 10.02 lac tonnes more than the previous season’s production for the same period.

The major destinations for Indian exports of Bishop Seeds (Ajwain) are U S A (23.3%), Saudi Arabia (20.1%), Canada (11.2%), Nepal (11%) & U K (9.1%).

In digital skills readiness, India is No. 1, according to a global study by Salesforce. India topped with a score of 66 out of 100, followed by Brazil at 53, Thailand at 48, and Mexico at 47 in the Salesforce Global Index.

According to provisional data from the commerce ministry, the country’s exports increased by 23.69% to US$ 34.06 billion in January, owing to strong performances in the engineering, petroleum, and gems and jewellery segments, despite the trade deficit widening to US$ 17.94 billion.