Rice export ban looms, Foxconn U-turn

As the El Niño threat mounts, speculation over a ban on rice exports is growing. A ban would probably help to keep a lid on domestic prices but have severe implications for the global market. Meanwhile, news that Taiwanese giant Foxconn has pulled out of its joint venture with Vedanta to develop a semiconductor plant is a dent to the government's ambitions of becoming a global electronics manufacturer, but we don't see it as a terminal blow.