Karnataka: Tomato prices surge as excess rains hit supply; onion prices crash
Bengaluru: The price of tomatoes has skyrocketed and is expected to touch Rs 100 per kg in the retail market in the coming days.
Farmers are attributing the reduced tomato yield to the heavy rains. Lakshman Gowda, a tomato farmer from Kolar, explained that the rainfall this year has led to a poor harvest. “This along with virus attacks has reduced the yield drastically while the demand has remained high. Hence the prices have shot up,” Deccan Herald quoted Lakshman Gowda, a tomato farmer from Kolar, as saying.
Dealers at the Kolar Agricultural Produce Marketing Committee (APMC) have reported a 40% drop in the arrival of tomatoes at the market.
Srinath, a dealer at Kolar APMC, explained that they previously received around 3,500 tonnes of tomatoes daily, but that number has now fallen to approximately 2,000 tonnes. “While crop loss in Karnataka has brought down the yield, the bad rains in Maharashtra has meant that a lot of produce from Karnataka is also being sent to meet the demand in North India. Hence the crisis,” DH quoted him as saying.
Meanwhile, onion prices have seen a sharp reversal. In contrast to the soaring prices of tomatoes, onions are now available for as low as Rs 5 per kilogram in the wholesale market. Dealers at the Yeshwantpur APMC market have pointed to the moist weather conditions, which have damaged onion crops, leading to a surplus of low-quality produce.
“Of the onions coming to the market, only about 10% is good and the rest is of poor quality. The rains damaged the crops bringing the yield down and now the moist weather conditions have meant that many are rotting even during transportation. Since good quality onion is not available, the price has remained low,” the newspaper quoted Ravi Shankar from the Yeshwantpur APMC yard as saying.
The situation is reportedly expected to persist for at least the next two months, after which some relief is anticipated.
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Ambani, Adani pledge USD 210 bn for India's AI push
New Delhi (PTI): Conglomerates run by billionaires Mukesh Ambani and Gautam Adani committed USD 210 billion investment to creating infrastructure that will help India emerge as an AI development hub.
At the India AI Impact Summit, Ambani announced a Rs 10 lakh crore (about USD 110 billion) investment in artificial intelligence over the next seven years in gigawatt-scale AI-ready data centres in Jamnagar, leveraging up to 10 GW of green power surplus, and a nationwide edge-compute layer integrated with telecom and digital operator Jio's networks to deliver low-latency AI across India.
"Our resolve is clear: make intelligence as ubiquitous as connectivity," he said. "When compute becomes infrastructure, innovation will become inevitable."
Adani, on the other hand, unveiled a USD 100-billion investment to develop renewable-energy-powered, hyperscale AI-ready data centres by 2035 -- one of the world's largest integrated energy-compute commitments.
The initiative is expected to catalyse an additional USD 150 billion across server manufacturing, cloud platforms, and supporting industries, creating a projected USD 250 billion AI infrastructure ecosystem in India.
India must architect its own artificial intelligence (AI) infrastructure rather than rely on imports, Adani Group executive director Jeet Adani said on Thursday, warning that AI will redefine national sovereignty.
Other major investments announced at the Summit included USD 50 billion commitment by Microsoft by the end of the decade to expand artificial intelligence access across the Global South. "India, not surprisingly, is one of the largest," its vice chair and president, Brad Smith, said.
The firm had unveiled USD 17.5 billion investment in AI investments in India last year.
Google CEO Sundar Pichai announced a new subsea cable initiative to boost AI connectivity between India, the US and other locations, alongside partnerships for cloud infrastructure platform support to over 20 million public servants across 800 districts.
Yotta Data Services, backed by a real estate group headed by Niranjan Hiranandani, announced over USD 2 billion spend on Nvidia's latest chips in an artificial intelligence computing hub it is setting up just outside the national capital.
While Tata Consultancy Services (TCS) signed up ChatGPT parent OpenAI as its first customer for its data centre unit under the global AI infrastructure initiative Stargate, infrastructure major Larsen & Toubro announced a proposed venture with Nvidia to build AI-ready data centre infrastructure, advanced computing platforms, and ecosystem enablement required to support large-scale AI workloads.
