India’s government has halved the export duty on parboiled rice from 20% to 10%, a year after the initial imposition due to production concerns. This decision follows the establishment of the Rice Federation Consulting Committee to address rice export challenges. Earlier in September, Centre removed the floor price for basmati rice, which is expected to […]
Government slashes export tax on parboiled rice by 10%, a year after fixing it at 20% to maintain domestic stock
EAC-PM suggests deregulating timber cultivation; proposes measures to make India a net exporter
1 year ago
The Economic Advisory Council to the PM has recommended deregulating the felling and transit of high-value timber trees like Teak, Gurjan, and Mernati. This move aims to transform India from a timber importer to an exporter, boosting farmers’ income and improving soil carbon content.
India will not buy from Russia’s sanctioned Arctic LNG 2 project: Oil secretary Pankaj Jain
1 year ago
India will not purchase liquefied natural gas from Russia’s Arctic LNG 2 project, which is under Western sanctions due to the conflict in Ukraine. Oil Secretary Pankaj Jain confirmed that India avoids any sanctioned commodities. The Arctic LNG 2 project by Novatek faces restrictions from the United States and other Western nations.
Allcargo Gati has announced a 10.2% general price increase for its express distribution services starting January 1, 2025. This is the first price revision since Allcargo’s acquisition of Gati in 2019. The increase aims to align pricing with operational investments and maintain service quality amid rising fuel costs and inflationary pressures.
India and Egypt have identified key areas for collaboration, including international trade settlement, digital payments, and investment in the Suez Canal Economic Zone. They also discussed market access issues on agricultural products and agreed to resolve them promptly. Both countries aim to increase trade and investment, with the next Joint Trade Committee meeting scheduled for […]
India’s steelmakers have urged the government to double tariffs on steel imports to 15% to counter a surge in cheaper shipments from China. The Indian Steel Association expressed concerns about the impact of these imports on local producers and requested additional measures to protect the industry.
‘Government run ports’ cargo handling capacity will double in 5 years’: Sarbananda Sonowal
1 year ago
India’s central government-controlled ports will nearly double their container handling capacity to 40 million TEUs in the next five years, creating two million jobs. Shipbuilding and repair hubs will be established in several states, supported by a new Greenfield Shipyard Building scheme. Hydrogen manufacturing hubs are also planned, attracting significant investment.
The government’s inconsistent policies on laptop import restrictions have led to increased business uncertainty and costs, according to think tank GTRI. To promote local manufacturing and reduce reliance on China, a stable and long-term policy is needed. Import restrictions could encourage global tech giants to shift production to India.
The Bangladesh government has ordered the export of 2,420 tonnes of Hilsa fish to India ahead of the festive season. This move is expected to lower prices and delight Indian fish lovers. The fish must be imported by October 12, raising concerns about timely delivery.
Industry body Ficci has urged for strict punishment and enhanced surveillance to combat illicit trade, which is estimated at Rs 7.97 lakh crore annually across five key sectors, including apparel and FMCG. The illicit market in packaged foods alone was Rs 2.23 lakh crore in 2022-23, over one-fourth of the country’s packaged food market.