The rupee on Tuesday recovered sharply to settle at 68.74 against the US dollar with gains of 40 paise amid sustained foreign fund inflows and heavy buying in domestic equities. With exporters still struggling to see a significant revival, appreciation of the rupee may add more pressure.
As cotton prices ruled firm for most of the 2018-19 marketing season starting October, the state-run Cotton Corporation of India (CCI) could purchase only 10.7 lakh bales under the MSP scheme. The bulk of the procurement — over 70 per cent — has been from Telangana followed by Maharashtra.
Commerce & Industry Minister Suresh Prabhu is expected to chair the meeting scheduled on April 4.
India and Chile should diversify their export basket to enhance trade between the two countries, said President Ram Nath Kovind.
India and Ukraine on Tuesday discussed bilateral trade, highlighting the importance of exports and imports between the two countries and cooperation in the field of small and medium entrepreneurship.
The RBI’s rate setting panel on Tuesday started its 3-day deliberations for the first bi-monthly monetary policy of 2019-20 amid expectations of a cut in key lending rate by another 25 basis points to boost economic activities.