Many Indian restaurants are cutting back on tomatoes in their popular dishes and consumer companies are ramping up production of cheaper purees that are flying off the shelves, after prices surged more than 500%.

India has rejected Chinese automaker BYD Co's (002594.SZ) proposal to set up a $1 billion factory in India in partnership with Hyderabad-based Megha Engineering and Infrastructure Ltd, the Economic Times reported on Saturday.

India on Thursday ordered a halt to its largest rice export category in a move that will roughly halve shipments by the world's largest exporter of the grain, triggering fears of further inflation on global food markets.

The Indian government is weighing a ban on the export of many rice types to control inflation, creating a good chance for Vietnam to accelerate outbound sales of rice, said several industry insiders.

Vietnamese Minister of Foreign Affairs Bui Thanh Son had meeting with Indian Minister of External Affairs Subrahmanyam Jaishankaron the occasion of their attendance at the 56th ASEAN Foreign Ministers’ Meeting (AMM-56) in Jakarta, Indonesia on July 12.

India is poised to become the world’s second-largest economy by 2075, leapfrogging not just Japan and Germany, but the U.S., too, says Goldman Sachs.

El Niño has resulted in increasing rice imports from Vietnam, enabling the country to reap US$2.32 billion in the first half.

India and Vietnam reportedly discussed cooperation on judicial matters to strengthen the law and order sector to unprecedented levels in bilateral ties.