India's frying problem - How to reduce imports

News Today:

India’s frying problem – How to reduce imports

Consumption of cooking oil is expected to climb in India by as much as 17 per cent over the next four years. India will likely produce about 10 million tons of edible oils in 2021-22, compared with local consumption of as much as 23 million tons.

Cooking oil is used to fry jalebis, the sticky, road-side sweet, and for practically every other staple dish.

Increasing domestic palm oil production would augment the overall supply of vegetable oil in the country. India aims to produce 1 million tons by 2026 and further boost output to 2.8 million tons by 2030, up from 300,000 tons.

Most of the commodities are linked to global prices that have rallied in the past year due to a supply crunch and rising biofuel use.

Google Trends Today

Wild day on Wall Street

On a wild day on Wall Street, stocks ended the day higher with a stunning turnaround just before the closing bell. Stocks began the day with a dramatic selloff. US stocks opened in the red as investors worried about the Federal Reserve’s plans to hike interest rates, tensions in Ukraine, earnings season and — of course — inflation.

American troops on alert

Roughly 8,500 Americans troops have been put on heightened alert in the US in case NATO activates its Response Force or if the security situation in Europe deteriorates further, the Pentagon has said.

Republic Day Preparations

Ahead of Republic Day celebrations and amid intelligence inputs of possible strikes by rogue elements from Pakistan, BSF has put its troops on high alert on and along Indo-Pak border.

Twitter Trends

#stockmarketcrash

There’s a Reason So Many People Are Obsessed With Wordle — It’s Genius

NATO sends fighter jets and ships to eastern Europe as Russia accuses West of hysteria

4-day working weeks are being trialled for six months with staff at 30 companies cutting their hours with no loss in pay.

#NationalGirlChildDay

#NationalVotersDay

Compiled from Twitter

Byju's Faces Drastic Valuation Cut Amid Financial Turmoil

Startup

24 February, 2024

Byju’s, once heralded as a flagship in India’s edtech sector, is grappling with severe financial and operational challenges, marked by a dramatic valuation drop. The company, which sought to stabilize its operations and finances, is now raising funds at a valuation significantly lower than its peak. This development comes amid efforts to address a substantial debt burden, with Byju’s proposing a repayment plan for its $1.2 billion loan. Investor confidence appears shaken, with some stakeholders pushing for drastic changes in leadership to navigate the crisis effectively. The turmoil reflects broader sectoral pressures and raises questions about the sustainability of high-growth trajectories in the edtech industry

Australia Accelerates Clean Energy Transition Amid Market Shifts and Investment Surge

Energy

10 February, 2024

Australia’s energy market is witnessing significant transitions and investments aimed at bolstering renewable energy infrastructure and securing gas supplies. Key developments include a $179 million investment by the Queensland Government for community battery projects, Santos’ $5.7 billion gas pipeline project following a legal battle win, and a $206 million energy savings package for NSW households. Additionally, the Australian government has secured new gas supply deals to support the east coast market, emphasizing the role of gas in transitioning to a renewable grid.

CVoter India Today: BJP Projected to Secure Clear Majority in 2024 Indian Elections

India 2024

9 February, 2024

The latest opinion polls, including the Mood of the Nation survey by India Today, predict a comfortable victory for Prime Minister Narendra Modi’s BJP and its allies in the National Democratic Alliance (NDA), with a projected win of 335 Lok Sabha seats in the 2024 general elections. This forecast suggests a slight decrease from the 2019 elections but still ensures a majority. The survey, involving interviews with over 149,000 respondents, reflects Modi’s enduring popularity based on his nationalist policies and economic reforms. Other polls echo these findings, although seat projections vary slightly. The opposition INDIA alliance is expected to secure a significant number of seats, yet not enough to challenge the NDA’s majority. These predictions highlight a political landscape that remains largely favorable to Modi and the BJP as the election approaches

India's frying problem - How to reduce imports

News Today: