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Business Economy

Production of Natural Rubber rises to 7.12 lakh tonnes in India

Kottayam, May 30 (UNI) The production of natural rubber in the country rose to 7.12 lakh tonnes, registering a growth rate of 9.4 per cent during 2019-2020.
The production crossed seven lakh tonnes for the first time since 2014-15.
The rise in production was attributed to several activities initiated by Rubber Board at Regional and field levels, with active cooperation of rubber producers' societies, Rubber Board Executive Director K N Raghavan said in a statement here.
The overall tapped area increased by 40,000 hectares during the period while the rain-guarded area was 2.50 lakh hectares, up by about 40000 hectares. This was in addition to 4,000 hectares brought in through the plantation adoption programme of the board.
The volume of consumption was down from 12,11,940 tonnes in 2018-19 to 11,34,120 tonnes in 2019-20. At the same time, the production consumption gap also declined to around 4,22,000 tonnes from 5,61,000 tonnes the previous year.
The import volume marked a decline of 20 per cent while exports increased from 4,551 tonnes in 2018-19 to 12,194 tonnes in 2019-20.
The statement projects the production of Natural rubber for the current fiscal at 7.10 lakh tonnes, taking into consideration the crop loss due to COVID-19.
Meanwhile, world production level is expected to decline by 2.2 per cent to become 13.43 million tonnes while consumption too will be down by 4.6 per cent to become 13.13 million tonnes, according to a study by International Rubber Study Group.
In view of the present situation faced by small growers due to COVID-19, the board has submitted a proposal to Ministry of Commerce and Industry, seeking minimum import price and restrictions on imports with minimum price mechanism in the domestic market.
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2020 Indiaspora Business Leaders List Recognizes More Than 50 Executives of Indian Heritage Leading Global Corporations

10 Jul 2020 | 11:06 PM

PUNE and WASHINGTON, July 10, 2020 /PRNewswire/ -- Indiaspora, a nonprofit organization of global Indian diaspora leaders from various backgrounds and professions, released today their inaugural list honoring executives of the Indian diaspora who are leading the largest global corporations in 2020.

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Mukesh Ambani is eighth richest in the world

10 Jul 2020 | 10:46 PM

New Delhi, Jul 10 (UNI) India's richest man and CMD of Reliance Industries Mukesh Ambani is eighth richest man in the world, according to the latest Bloomberg Billionaires Index released on Friday.

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IIP numbers of May not released due to inadequate data

10 Jul 2020 | 9:19 PM

New Delhi, Jul 10 (UNI) The government did not release headline industrial output numbers for May due to inadequate data collection in view of the lockdown imposed in the country to curb the spread of Covid-19.

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SAIL maintains profitability during FY20; Earns more than Rs 2,000 cr net profit

10 Jul 2020 | 9:03 PM

New Delhi, Jul 10 (UNI) Steel Authority of India Limited announced on Friday that it has earned a Profit Before Tax (PBT) of Rs 3170.66 Crore leading to Profit After Tax (PAT) of Rs 2021.54 Crore in the Financial year 2019-20.
This profit has been earned in spite of the challenging market conditions including the onset of Corona virus pandemic. In FY’20, the Company made a turnover of Rs 61024.88 Crore and its EBITDA per tonne of Saleable Steel improved from Rs 7284 in FY’19 to Rs 7869 FY’20.

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Rossari First IPO to do Virtual Roadshow

10 Jul 2020 | 8:30 PM

Companies adopt Virtual Roadshows for Capital Raise
MUMBAI, July 10, 2020 /PRNewswire/ -- Rossari Biotech Ltd, which is doing a capital raise of Rs. 500 Crores is the first company to have a virtual press conference followed by an analysts & brokers Conference for announcing its IPO which opens for subscription on Monday, July 13, 2020. The virtual conference had over 1,000 registrations and was simultaneously broadcasted for investors.

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