In the current 2021-22 marketing year ending September, the government has allowed sugar exports of 112 lakh tonnes and mills are likely to ship the entire quantities.

Inter-ministerial consultations are progressing on revising the Wholesale Price Index (WPI) base year from 2011-12 to 2017-18, a top government official has said. Revising base year to 2017-18 for computation of wholesale inflation would help in presenting a more realistic picture of the price situation in the country.

Exim bank said that the rise in exports during the second quarter of FY23 could be shadowed by softening global commodity prices. Slowdown in major trade partners, inflationary pressures and tight monetary policies around the world could also offset the exports gain, as per the Exim Bank data.

The restructuring rests on pillars like increasing India's share in global trade, assuming leadership roles in multilateral organisations, creating 100 Indian brands as global champions, and setting up economic zones in India to strengthen the manufacturing base and attract greater investments.

IPEF was launched jointly by the US and partner countries of the Indo-Pacific region on May 23 in Tokyo. It seeks to strengthen economic partnership among participating countries with the objective of enhancing resilience, sustainability, inclusiveness, economic growth, fairness and competitiveness in the region.

​​The government can step in where they can not solve a problem, the Union minister said. He was speaking at an outreach program organised by the Agricultural and Processed Food Products Export Development Authority, a government body, in association with his Agrovision Foundation.

Over 2022-23, India's growth will average 7 per cent, the strongest among largest economies, contributing 28 per cent and 22 per cent to Asian and global growth, Morgan Stanley said in a report.

During April-August period of the current financial year, the government data showed that the country has already exported 9.35 million tonnes as against 8.36 million tonnes in the year-ago period. "The exports may fall to 16-17 million tonnes in this financial year because of ban on broken rice and 20 per cent export duty," All India Rice Exporters Association (AIREA) former president Vijay Setia said.

Negotiations for a free trade agreement (FTA) with the UK is expected to be concluded this month, while talks with Canada for a deal are progressing at a rapid pace. Piyush Goyal said two FTAs have already been finalised this year and he is hoping for the conclusion of at least two more by the end of this year.