The Indian government has decided to extend the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme beyond September, with a review planned for December. This decision comes amid a slowdown in goods exports. The scheme aims to refund various taxes and duties not covered by other rebate programs.
Export remission scheme may continue beyond Sept
India has lifted its ban on the export of non-basmati white rice, a move welcomed by exporters in West Bengal. The government also reduced the export duty on parboiled rice from 20 percent to 10 percent. This decision is expected to boost incomes for exporters and farmers with the upcoming kharif crop.
Piyush Goyal’s US visit: India, America to discuss pact to boost collaboration in critical minerals
1 year ago
India and the US are negotiating a pact to enhance collaboration in critical minerals. Commerce Minister Piyush Goyal will visit Washington to discuss expanding supply chains and increasing bilateral trade. The visit aims to promote strategic partnerships and investment opportunities between the two countries.
India has lifted most of its rice export restrictions imposed in 2023, expecting higher crop yields due to above-average monsoon rains. India, which contributed over 40% of global rice exports in 2022, saw a 20% drop in exports due to the restrictions, impacting prices and demand globally.
India has lifted the ban on non-basmati white rice exports and set a minimum export price of $490 per tonne. The ban, in place since July 2023, was lifted to address food security needs of various countries. Key export destinations include Kenya, Mozambique, and Cameroon.
First consignment of Hilsa reaches West Bengal from Bangladesh, second lot to arrive soon
1 year ago
Over 50 metric tonnes of Hilsa fish have arrived in West Bengal from Bangladesh for the Durga Puja festival. The Fish Importers’ Association expects a total of over 2000 metric tonnes by October 12. The consignment has been distributed to various wholesale markets, with prices ranging from Rs 900 to Rs 1500 per kg.
The government lifted the ban on non-basmati white rice exports, effective immediately, while introducing a minimum export price (MEP) of USD 490 per tonne. This change follows a prohibition since July 20, 2023, aimed at enhancing domestic supply. The policy amendment is issued by the Directorate General of Foreign Trade.
The government has exempted non-basmati white rice from export duty and reduced the levy on parboiled rice to 10 per cent. The export duty on husked and paddy rice has also been lowered to 10 per cent. These changes, effective from September 27, 2024, aim to boost exports and enhance farmers’ income.
The policy would seek to optimise use of waterfront and associated land for industrial purposes. It is expected to bring relief to companies who have developed projects reliant on captive berths since the existing policy does not provide for an extension.
DHL Express will raise parcel delivery prices in India by an average of 6.9 per cent starting January 1, 2025. The company adjusts prices annually based on inflation, currency dynamics, and regulatory costs. DHL aims to maintain reliable services despite geopolitical and supply chain challenges, according to senior vice-president R S Subramanian.