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18 Billion-Dollar Rice Question: Why US And Canada Are Targeting India At The WTO

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18 Billion-Dollar Rice Question: Why US And Canada Are Targeting India At The WTO


India Rice Export: The debate around India’s rice trade intensified this week after representatives from the United States and Canada raised objections at the World Trade Organisation (WTO). Their complaint centred on the worry that India’s growing presence in the global rice market may end up unsettling countries that rely on stable prices and dependable supplies.

People in the knowhow of the discussions said both delegations voiced the view that New Delhi’s plan to expand exports in the coming seasons might trigger tremors across international markets, especially for smaller economies that have little cushion when price trends change.

Union Minister Prahlad Joshi acknowledged the concerns but added that India’s intention remains unchanged. The government, he said, wants farmers to earn a fair return while the country continues to meet global demand in a balanced manner.

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New Delhi has earlier indicated that it plans to double exports over the next few years, a projection that carries weight considering India already accounts for almost 40 percent of the world’s rice trade.

During its submission to the WTO, Canada alleged that India had been encouraging farmers to raise output through financial support and yearly increases in the minimum support price for paddy. It argued that such policies maximise production and create a surplus that eventually flows into international markets. The statement warned that this expansion could distort trade patterns and place other exporting countries under pressure, gradually altering price behaviour across the region.

The numbers behind India’s basmati shipments illustrate why the conversation has gathered momentum. In 2019-20, Basmati rice exports were valued at 4.33 billion dollars, before settling at over 4 billion dollars the following year.

The figure stood at 3.54 billion dollars in both 2021-22 and 2022-23, but it surged dramatically to 5.83 billion dollars in 2023-24 and inched further to 5.94 billion dollars in 2024-25.

These swings reveal how strongly global buyers continue to rely on India for premium aromatic rice, despite periodic turbulence in trade policies.

The non-Basmati segment has travelled an equally eventful path. In 2019-20, India exported rice worth 2.01 billion dollars in this category. The number rose steeply to 4.8 billion dollars in 2020-21 and then crossed 6.12 billion dollars in 2021-22. It climbed slightly to 6.35 billion dollars in 2022-23 before easing to 4.57 billion dollars in 2023-24.

By 2024-25, it had surged again to 6.52 billion dollars. These figures explain why competing exporters are watching every move taken by New Delhi. Even a modest change in India’s export policy can shift expectations for importers, traders and retailers in dozens of countries.

With the matter now gaining traction at the WTO, trade diplomats expect several more rounds of submissions and counter-submissions. India is preparing a detailed response that will outline its position and the rationale behind its support policies.

For now, both sides appear to be settling in for prolonged discussions, because few commodities reveal the global balance of power as clearly as rice, the grain that feeds more people on this planet than any other.



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Goldman Sachs is about to report fourth-quarter earnings — here’s what the Street expects

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Goldman Sachs is about to report fourth-quarter earnings — here’s what the Street expects


Goldman Sachs CEO David Solomon speaks during an interview at the Economic Club of Washington in Washington, D.C., U.S., Oct. 30, 2025.

Kevin Lamarque | Reuters

Goldman Sachs is scheduled to report fourth-quarter earnings before the opening bell Thursday.

Here’s what Wall Street expects:

  • Earnings: $11.67 per share, according to LSEG
  • Revenue: $13.79 billion, according to LSEG
  • Trading revenue: Fixed income of $2.93 billion, equities of $3.70 billion, per StreetAccount
  • Investing banking fees: $2.58 billion, per StreetAccount

Goldman Sachs is set up to be a beneficiary of several trends in the fourth quarter.

Trading desks across Wall Street have benefited in the last year as President Donald Trump’s policies have roiled markets for bonds, currencies, commodities and stocks.

For instance, rival JPMorgan Chase topped expectations for fourth-quarter results on equities and fixed income trading revenue that exceeded the StreetAccount estimate by a combined $460 million.

Global investment banking revenue in the quarter was 12% higher than a year ago, according to Dealogic, which should provide a boost to Goldman’s advisory business.  

The firm’s asset and wealth management division should also see gains as stock market levels remained buoyant in the quarter.

Finally, the bank said last week that its deal to offload its Apple Card business to JPMorgan would result in a 46-cents-per-share boost to quarterly results.

This story is developing. Please check back for updates.



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After Backlash, Elon Musk Grok To Stop Creating Undressed Images Of Real People On X

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After Backlash, Elon Musk Grok To Stop Creating Undressed Images Of Real People On X


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X decision came after facing outrage over the misuse of Grok, where the AI Chatbot was found to be complying with user requests to digitally undress images of real people.

Elon Musk’s Grok can no longer undress images of real people on X. (Representative Image)

Elon Musk’s Grok can no longer undress images of real people on X. (Representative Image)

Amid the rising concerns over the sexualised AI deepfakes in countries including the UK and US, Elon Musk’s Grok artificial intelligence chatbot will no longer edit “images of real people in revealing clothing” on X, the company confirmed Wednesday evening.

The company’s decision came after facing global outrage over the misuse of Grok, where the AI Chatbot was found to be complying with user requests to digitally undress images of adults and, in some cases, children.

“We have implemented technological measures to prevent the Grok account from allowing the editing of images of real people in revealing clothing such as bikinis. This restriction applies to all users, including paid subscribers,” X wrote via its Safety team account.

Within the last week xAi, which owns both Grok and X, restricted image generation for Grok on X to paying X premium subscribers

CNN reported that it has been observed that in the last few days, Grok’s X account had modified how it responded in general to users’ image generation requests, even for those subscribed to X premium.

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Elon Musk’s X to block Grok from undressing images of real people

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Elon Musk’s X to block Grok from undressing images of real people


Elon Musk’s AI model Grok will no longer be able to edit photos of real people to show them in revealing clothing, after widespread concern over sexualised AI deepfakes in countries including the UK and US.

“We have implemented technological measures to prevent the Grok account from allowing the editing of images of real people in revealing clothing such as bikinis.

“This restriction applies to all users, including paid subscribers,” reads an announcement on X, which operates the Grok AI tool.

The change was announced hours after California’s top prosecutor said the state was probing the spread of sexualised AI deepfakes, including of children, generated by the AI model.

The update expands measures that stop all users, including paid subscribers, editing images of real people in revealing outfits.

X, formerly known as Twitter, also reiterated in a statement on Wednesday that only paid users will be able to edit images using Grok on its platform.

This will add an extra layer of protection by helping to ensure that those who try and abuse Grok to violate the law or X’s policies are held accountable, it said.

Users who try to generate images of real people in bikinis, underwear and similar clothing using Grok will be stopped from doing so according to the laws of their jurisdiction, X’s statement said.

In a statement on Wednesday, California Attorney General Rob Bonta said: “This material, which depicts women and children in nude and sexually explicit situations, has been used to harass people across the internet.”

Malaysia and Indonesia have blocked access to the chatbot over the images and UK Prime Minister Sir Keir Starmer warned X could lose the “right to self regulate” amid outrage over the AI images.

Britain’s media regulator, Ofcom, said on Monday that it would investigate whether X had failed to comply with UK law over the sexual images.



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