The ET GenAI Hackathon 2026 has announced the results of its Idea Submission phase, with the shortlist finalised after evaluating entries from more than 54,000 builders across India. Shortlisted teams now advance to the Prototype Development Phase
The fast-expanding war between the United States, Israel, and Iran has captured global attention largely because it is disrupting oil and gas supplies from the Persian Gulf. Yet another resource is now emerging as far more critical to the survival of the region’s societies. Water
Indian technology stocks have seen an unprecedented rout over the past few weeks over fears of artificial intelligence upending the traditional outsourcing model that powers the country's $300bn (£223bn) back-office industry. The sell-off - part of a global correction in traditional software and
The ruling Bharatiya Janata Party-led National Democratic Alliance (NDA) on Monday managed an easy victory in the biennial polls to five Rajya Sabha seats in Bihar, with its candidates including Chief Minister Nitish Kumar and BJP national president Nitin Nabin
Star Brazilian forward Neymar didn’t receive a call-up to the national team squad for the upcoming friendlies against France and Croatia, although striker Endrick found a spot. With this snub, Neymar’s hopes of playing at the upcoming FIFA World Cup have received a massive blow
If one wants to explore the many debates and controversies surrounding the Congress and its role in shaping India’s political trajectory, there may soon be a new address in the capital to turn to. At 3, Safdarjung Lane, the official residence of Nishikant Dubey — the Bharatiya Janata Party MP
Chelsea have been handed a Premier League record fine of £10.75m and a suspended transfer ban. It was a result of the club making secret payments to unregistered agents and third-parties over transfers between 2011 and 2018. But it could have been a lot worse
Iran’s National Security Chief Ali Larijani on Monday penned a note to Muslim countries, questioning their lack of support for Tehran as the US-Israeli war is now entering its third week with no clear end in sight, disrupting global energy supplies and raising fears of a spike in global inflation
Basmati Rice Trade At Risk? Middle East Crisis Casts Shadow Over Rs 50,000 Crore Indian Exports
Basmati Rice Trade At Risk? Middle East Crisis Casts Shadow Over Rs 50,000 Crore Indian Exports
India is world’s largest basmati exporter, producing over 70% of global supply and shipping nearly 60 lakh tonnes annually, valued at close to Rs 50,000 cr
Iran has launched retaliation attacks using drones and small-scale missile strikes, targeting several cities across the Middle East, further intensifying regional instability. In response, the Indian Rice Exporters Federation (IREF) on Sunday advised members to avoid entering new ‘cost, insurance and freight’ (CIF) contracts with Iran and Gulf destinations amid escalating West Asia tensions, warning that the situation could disrupt shipments and sharply increase freight and insurance costs. Under CIF arrangements, sellers bear transport, insurance and freight costs until cargo reaches the buyer’s port.
The advisory follows a major US-Israel strike on Iran on February 28, which has raised fears of wider regional conflict and possible shipping restrictions through the strategic Strait of Hormuz in the Persian Gulf. Exporters are concerned that prolonged conflict could block maritime trade routes and trigger financial losses. Punjab and Haryana together contribute nearly 75% of India’s premium aromatic basmati rice exports, with Haryana accounting for about 35% and Punjab about 40%. India is the world’s largest basmati exporter, producing over 70% of global supply and shipping nearly 60 lakh tonnes annually, valued at close to Rs 50,000 crore.
India exported around 60 lakh tonnes of basmati rice in 2024–25, with demand largely driven by West Asia and the Middle East, including Iraq, the UAE and the US. Trade disruptions have already begun as shipping companies reportedly halted vessels in transit, stopping movement of grain cargoes. If the war prolongs, exporters fear mounting losses and falling basmati prices could also hurt farmers growing the premium aromatic variety. Traders also highlighted that shipments heading to Iran or Afghanistan via Iran’s Bandar Abbas port have been delayed, with payment cycles expected to lengthen.
The conflict comes after earlier trade disruptions in January when US sanctions on Iran weakened the Iranian currency, forcing local authorities to restrict food trade and leaving grain stocks worth nearly Rs 2,000 crore stranded. Exporters warn that continued instability could push traders toward financial distress. The Agricultural and Processed Food Products Export Development Authority (APEDA) data showed that basmati exports to Middle Eastern countries between April and December 2025 were worth Rs 27,197 crore, with Iran alone importing premium rice valued at about Rs 6,000 crore during the period.
Industry participants also worry about rising maritime risks due to Houthi threats targeting cargo vessels in the Red Sea. If tensions spread to the Strait of Hormuz, freight and insurance costs could rise sharply, while currency volatility may squeeze export margins. Exporters have been advised to prefer ‘free-on-board’ (FOB) contracts where shipping risks are borne by international buyers. West Asian markets — including Saudi Arabia, Iran, Iraq, UAE and Yemen — account for nearly half of India’s basmati rice exports, making geopolitical stability in the region critical for the trade.
Source: News18.com
Source: OfficeNewz
Related Posts: Rice Or No Rice 6 Major Health Risk Factors That Significantly Raise Stroke Risk Government suspends fortified rice rollout in welfare schemes citing shelf-life concerns Incredible' Rice is 'future captain of England' - Rooney Central Govt temporarily discontinues fortification of rice under PMGKAY Paul Scholes Snubs Declan Rice Rice 'stretches himself to limit' before another 'masterclass' AIIMS gut doctor shares 9 facts about rice Roti or Rice? Healthier Option For Stomach And Digestion Process
Nagaon MP Pradyut Bordoloi expressed strong displeasure over Dr. Asif Nazar being considered for the Lahorighat Assembly ticket, citing Nazar's alleged association with an individual charged in an attack on Bordoloi. Bordoloi wrote to AICC General Secretary Jitendra Singh
5 hours ago
A sessions court in Gujarat’s Gir Somnath district on Monday convicted five persons and acquitted 35 others in connection with a 2016 case in which seven Dalits were assaulted in the town of Una, The Indian Express reported. Additional Sessions Judge Jignesh Pandya of the court in Veraval
5 hours ago
It's Hollywood's biggest night. The 98th Academy Awards featured emotional speeches, comical relief and a bevy of backstage fun. But it was perhaps a night to forget for Timothée Chalamet. As well as losing out to Michael B Jordan for best actor and One Battle After Another for best picture
5 hours ago
US President Donald Trump on Monday said more than 30 mine laying ships of Iran have been destroyed which has affected Tehran’s capacity to threaten commercial shipping in the Strait of Hormuz. “We are hammering their capacity to threaten commercial shipping in the Strait of Hormuz with more
5 hours ago
Love Horoscope Today for March 17, 2026: A spontaneous moment could lead to a meaningful connectionLove Horoscope Today, March 17, 2026: Find daily astrological predictions for all sun signs. Published on: Mar 17, 2026 7:28 AM IST By Neeraj Dhankher Share via Copy link Aries: Mars is pushing you to
5 hours ago
Dubai arrests Iranian drone strike survivors after they sent explosion photos to loved ones3 foreigner nationals who survived drone strike in Dubai have been arrested after sending photos of the explosions to family members. Updated on: Mar 16
5 hours ago
‘Firms need to move to adaptive, energy-efficient AI models’Sarah Hooker is convinced that the future lies in AI systems that use less computing power, cost less to run and can adapt to the needs of users. Published on: Mar 17, 2026 6:58 AM IST By Shweta Taneja Share via Copy link In the last
5 hours ago
Baghdad witnessed a significant drone and rocket attack on the U.S. embassy early Tuesday. This incident marks the most intense assault since the commencement of the U.S.-Israel war with Iran. Iraqi security forces have heightened their presence across the capital. The Green Zone
5 hours ago
Russell Wilson trade update: Chiefs hand a shock to Giants QB with Justin Fields move Published on: Mar 17, 2026 5:03 AM IST By Khushi Arora Share via Copy link New York Giants quarterback Russell Wilson (3) waves to fans after the game against the Dallas Cowboys (IMAGN IMAGES via Reuters Connect)
5 hours ago
![London [UK], March 17 (ANI): The Premier League has completed a disciplinary process with Chelsea FC in respect of historical breaches relating to Financial](http://newsorbit360.com/files/news/en/imgs/chelsea-fined-and-faces-supended-transfer-ban-by-premier-league.webp?height=520)
London [UK], March 17 (ANI): The Premier League has completed a disciplinary process with Chelsea FC in respect of historical breaches relating to Financial Reporting and Third Party Investment.In 2022, Chelsea FC’s current owners voluntarily reported to the League that they had evidence of
5 hours ago
A Bengaluru-based cafe has drawn attention on social media after adding a 5 per cent “Gas Crisis Charge" to a customer’s lemonade order, sparking debate on social media platform X. The unusual fee, applied on a bill for two mint lemonades, has left many users amused and some questioning its
5 hours ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Still using an older laptop? These Intel 13th Gen laptops show what modern performance feels likeIntel 13th Gen laptops bring improved performance
5 hours ago
US President Donald Trump said on Monday that he is planning to delay a high stakes visit to China later in March by about a month because of the Iran war. "We've requested that we delay it a month or so," he told reporters at the White House
5 hours ago
LDF ally ISJD, UDF ally RSP name candidates for four seats eachThe ISJD and RSP announced their candidates for Kerala Assembly polls, with ISJD's K Krishnankutty retiring from politics and RSP seeking assembly representation. Published on: Mar 17, 2026 7:30 AM IST By Vishnu Varma
5 hours ago
Horoscope Today, March 17, 2026: Operational strategies at work need refinementHoroscope Today: Read the astrological predictions for each zodiac sign based on an expert's guidance on March 17, 2026. Published on: Mar 17, 2026 7:19 AM IST By Dr Prem Kumar Sharma
5 hours ago
Viswanathan Anand has defended Cyprus as the host of the upcoming FIDE Candidates Tournament, saying the island nation offers a high-quality setting for one of chess’ most important events despite concerns over regional tensions. Cyprus has been in focus due to its proximity to the evolving Gulf
5 hours ago
A parliamentary panel has flagged the Ministry of Social Justice and Empowerment for surrendering nearly a quarter of funds sanctioned for Scheduled Caste welfare schemes. The committee found the ministry's inability to utilize allocated funds and its consistent budget scaling down at revised
5 hours ago
Fino Payments Bank clarifies the ongoing probe relates only to certain programme managers and merchants associated with multiple banks. Also Read :10 people dead after fire breaks out at Odisha’s Cuttack SCB Medical College; CM announces Rs 25 lakh ex-gratia assistanceFino Payments Bank clarifies
5 hours ago
When the daytime air feels like an oven and night brings no relief, people in Karachi, Pakistan, say the heat “goes straight to the head”. They mean more than dizziness or sweat. It’s the creeping panic of a body that cannot cool down: restless nights, frayed tempers, a household on edge
5 hours ago
Dozens of people are feared dead or injured at a drug treatment centre in Kabul, Afghanistan after an air strike that the Taliban government blamed on Pakistan. The hospital was hit on Monday evening, killing some people and injuring others, the government's spokesman said on X
5 hours ago
The report from Elara Capital said retail gasoline and diesel prices “could be fully protected through excise cuts until roughly $110/bbl, beyond which price hikes on diesel and gasoline would become inevitable”. Also Read :Fino Payments Bank Shares Fall To 52-Week Low Amid Probe Reports;
5 hours ago
Shocked Karan Johar reveals his 9-year-old son Yash's ‘business proposal’ as he wants to pay rent to him. WatchKaran Johar and his son Yash had a fun conversation as they discussed a business proposal. Watch their banter here. Mar 17, 2026, 06:00:58 IST By Ananya Das Share via Copy link
5 hours ago
Punjab Assembly session: House passes motion against LoP Bajwa over ‘band player’ remarkThe Punjab assembly condemned opposition leader Partap Singh Bajwa for alleged derogatory remarks about a minister, leading to chaos and a walkout by Congress. Published on: Mar 17
5 hours ago
More than a thousand citizens in Ladakh's Leh and Kargil regions rallied on Monday, echoing calls for statehood and adherence to the Sixth Schedule. Leaders from the Apex Body Leh alongside the Kargil Democratic Alliance expressed their discontent regarding the central government's stance
5 hours ago
Menstrual pain is often dismissed as an inevitable part of being a woman. But when cramps become debilitating, interfere with daily life or are accompanied by chronic pelvic discomfort, they may signal something more serious. One such condition is endometriosis – a long-term disorder affecting
5 hours ago
Khushbu Sundar comes out in support of Trisha amid her viral pics with Vijay: ‘She is one of the most dignified women’Khushbu Sundar has addressed the online chatter surrounding the public appearance of Vijay and Trisha Krishnan, after the divorce petition filed by Sangeeta. Mar 17, 2026
5 hours ago
Rex Culpepper's fiancee pays sweet tribute after tragic bike accident death: ‘I don’t regret' Published on: Mar 17, 2026 4:55 AM IST By Yash Nitish Bajaj Share via Copy link Former Syracuse quarterback Rex Culpepper died after an accident on Saturday (Instagram/Rex Culpepper) Rex Culpepper
5 hours ago
