Pilot launch of upgraded electronic bank realisation certificate system for exporters from Nov 15

The commerce ministry plans to soft-launch the revamped electronic Bank Realisation Certificate (eBRC) on November 15. The eBRC is an essential document for exporters, confirming that they have received payment from a foreign buyer. The upgraded system will rely on electronic inward remittance messages transmitted directly by banks to the Directorate General of Foreign Trade […]

The government has provided a one-time exemption from the export ban to Patanjali Ayurved Limited to ship 20 tonnes of non-basmati white rice as a donation to Nepal for earthquake victims. India, had in July, banned the export of non-basmati white rice to boost domestic supply but allowed exports on the basis of permission granted […]

India’s palm oil and sunflower oil imports reached record highs in 2022/23 due to a rebound in consumption and a steep discount compared to rival soyoil. The country’s largest importer of vegetable oils, India, bought palm oil mainly from Indonesia, Malaysia, and Thailand, while soyoil imports fell 12% to 3.68 million tons.

The Indian government has granted a one-time exemption from the export ban to Patanjali Ayurved for shipping 20 tonnes of non-basmati white rice as a donation to Nepal for earthquake victims. Exports of non-basmati white rice were banned in July to boost domestic supply, but are allowed on request and based on permission granted by […]

Earlier this year, Russian officials said that Moscow had accumulated billions of rupees in Indian banks that couldn’t be used. Industry estimates peg this amount at $7-8 billion. Until July 2, the RBI had approved 34 applications from different Russian banks for opening SRVAs in 14 Indian commercial lenders.

The Indian Pulses and Grains Association (IPGA) said that one influential exporter in Mozambique has not been allowing other exporters to ship tur to India, thereby driving up the prices.

The meet will focus on several tracks — ‘Financial Cooperation’, ‘Cooperation in Pharmaceuticals and Healthcare’, ‘Support for Innovation and Entrepreneurship’, ‘Trade and Logistics’, ‘Tourism and Cultural Relations’, and ‘Digital Transformation and E-commerce’, ET has learnt.