Existing contracts below USD 1,200 per tonne have been kept in abeyance. A committee under the chairman of APEDA will be set up to evaluate future course of action.
India has imposed a 20 per cent export duty on parboiled rice as a measure to stabilise prices and strengthen domestic inventory.
"If India is charging us too, so what I want to have is a -- call it retribution. You could call it whatever you want. If they are charging us, we charge them," Trump said in response to a question.
In a statement on July 20, the Ministry of Food and Public Distribution said that in order to ensure adequate availability of non-basmati white rice in the Indian market
The export policy relating to non-basmati white rice (Semi-milled or wholly milled rice, whether or not polished or glazed: Other) has been revised from free to prohibited and it has come into force immediately, a Directorate General of Foreign Trade notification said.
The stock limit has been imposed on traders, wholesalers, retailers, big chain retailers and processors till March 31, 2024.
The duty exemption is applicable only for importers holding TRQ (Tariff Rate Quota) licence for 2022-23 fiscal.
Commerce Secretary Sunil Barthwal said that trade between India and the UAE has grown significantly after the implementation of the trade agreement on May 1 last year.
India has become a USD 3.5 trillion economy in less than nine years.
Mobile phone exports from India reached close to USD 11.12 billion with iPhone maker Apple accounting for around half of the total exports, according to industry body ICEA and estimates from industry sources.
Notably, China is the world's largest producer and exporter of APIs and many Indian companies depend on imports of the ingredients to produce various formulations.
Agricultural sector is the prime source of income for farmers in India. To pace up with the burgeoning population and cope up with the incessant consumer demands, the development of this sector is a must. Here’s what the agritech industry is looking forward to in the upcoming union budget.
Global Trade Research Initiative's report suggested that Indian exports may not be as impacted as other large economies by weak global demand in 2023.
Sugar exports: India has been the highest producer and the second largest exporter of sugar in the world in the current year.
The US and EU are impacting exports of key sectors including engineering, gems, and jewelry, and may have implications on India's exports in case the global situation does not improve in the coming months.
New Delhi: India-UK free trade agreement will help to boost the country's services exports, particularly from the legal, accounting, and auditing sectors, Services Export Promotion Council (SEPC)
Wheat flour export ban: "Export policy of wheat flour (atta) remains free but export shall be subject to recommendation of inter-ministerial committee on export of wheat," the Directorate General of Foreign Trade (DGFT) said in a notification.
The government has also allowed a wheat consignment headed for Egypt, which was already under loading at the Kandla port.
India, the world's second-biggest wheat producer, has banned wheat exports in a bid to check high domestic prices amid concerns of wheat output being hit by scorching heat waves.
It also clarified that wheat exports will be allowed on basis of permission granted by Govt of India to other countries to meet their food security needs and based on the request of their govts.
Top News
Latest News
