Indian rice shipments of 5,00,000 tons postponed after new duty: Exporters

India’s decision to impose a 20% duty on exports of parboiled rice has led buyers and sellers to delay shipments to avoid paying the tax. This could lead to depleted inventories and higher local prices in importing countries such as Benin, Ghana, Cote d’Ivoire, and Liberia. Indian exporters have also raised their prices to a […]

Oleg Deripaska, the founder of Rusal, one of the world’s largest aluminum firms, predicts that India will become one of Russia’s top three trading partners in the coming years. He expects that India-Russia trade, which has already increased significantly in the past 1.5 years, will reach $100-125 billion over the next three years. Deripaska also […]

Exporters and government officials in India are divided on the correct market price of food grains and onions, on which customs duty is calculated. The lack of a proper system to calculate the tax has led to under-invoicing by some traders to avoid customs duty and the illegal shipment of banned commodities. In response, the […]

In a regulatory filing, the company asserted that the price limit does not have any “impact on the exports for LT Foods Ltd as the company mostly export premium and aged rice in our own trusted brands i.e. DAAWAT and Royal, the export price of which is mostly over and above the said minimum export […]

Over the past few days, India imposed a minimum price on shipments of basmati rice and put an export tax on the parboiled variety. The government of Prime Minister Narendra Modi has stepped up measures to tackle rising food prices ahead of an election early next year.

India’s thriving economy has also attracted $46 billion in FDI during FY2023, registering a remarkable growth of 89% since FY2014. This warrants scrutiny of the jurisdictions contributing to this inflow. Notably, Singapore emerged as the leading source of FDI to India, contributing 37% ($17.2 billion) of the basket. The small island nation of Mauritius had […]

The commerce and industry ministry said on Sunday that it directed trade promotion body Agricultural and Processed Food Products Export Development Authority (Apeda) not to register contracts below $1,200 per tonne. Existing contracts below $1,200 per tonne have been kept in abeyance.

​​”So at this point, our trade relationship within the context of the larger relationship, is mirroring the dynamism and the upward trajectory that I see just over the course of a couple of days visiting Jaipur and Delhi (for G20). It is an incredible sense of optimism and forward-looking vantage point. We are challenging ourselves […]

Indian and UK officials will continue their negotiations till the month-end to iron out differences on the proposed free trade agreement (FTA), the commerce ministry said on Sunday. This meeting will be followed by a review at the higher level, it said.