Govt extends zero import duty & agri-cess exemption on masur dal till March 2025

The Indian government has extended the zero import duty on masur dal (lentil) until March 2025 to maintain a stable supply and control domestic prices. The exemption, along with a 10% agri-infra cess, was set to expire in March 2024. The move aims to provide a clear signal to farmers in producing countries and encourage […]

India has strongly objected to efforts of certain countries to push a proposal on investment facilitation at the WTO, saying the agenda falls outside the mandate of the global trade body and cannot be deliberated in formal meetings. According to the statement of the Indian delegation in a meeting of the General Council of the […]

Moreover, overall exports face a shortfall of about $4-5 billion this year after India curbed exports of wheat, rice and sugar amid rising prices though the growth in exports of other farm commodities will offset the export deficit.

India’s exports are displaying increased resilience to shifts in global demand and relative prices, according to the Chief Economic Adviser’s office. In a collection of essays released, it highlighted a growing trend in the export of high-value goods and a rise in participation in the manufacturing global value chain (GVC).

India might face a $4 to $5 billion drop in exports due to restrictions on wheat, rice, and sugar trade, aiming to control local prices. Attacks in the Red Sea might affect basmati rice shipments. To cope, India could use an African route, but ongoing attacks might raise rice prices by 15% to 20%

The Apparel Export Promotion Council (AEPC) has announced that a free trade agreement with Oman, known as the Comprehensive Economic Partnership Agreement (CEPA), will boost apparel exports in the Gulf nation. The agreement, which is currently being negotiated, is expected to significantly boost bilateral trade between the two countries.

India has requested G7 countries to postpone the ban on Russian diamonds, citing unclear rules on tracing gem origins. As home to 90% of the world’s diamond cutting and polishing industry, India’s cooperation is crucial. G7 announced a ban on Russian diamonds starting January 1, with phased-in restrictions on indirect imports from around March 1

According to Kulaste, Coal India Limited (CIL) has planned to increase raw coking coal production from existing mines by up to 26 million tonnes (MT) and identified ten new mines with Peak Rated Capacity (PRC) of about 22 MT by financial year 2024-25. CIL has also offered eight discontinued mines under a revenue sharing model […]

​Commerce and Industry Minister Piyush Goyal and his counterpart from New Zealand Todd McClay recognised the importance of trade facilitation and discussed measures to streamline trade processes, reduce trade barriers, and promote a more conducive environment for businesses and investors from both nations, the commerce ministry said.

India’s ban on onion exports has led to soaring prices for Asian buyers, causing them to seek cheaper alternatives. Traditional importers, including Bangladesh, Malaysia, Nepal, and the UAE, are grappling with high prices as India, the largest exporter of onions, faces a domestic shortage. The ban, imposed due to doubled domestic prices, is unlikely to […]