The Indian government is continuing to purchase lentils from Canada despite the strained diplomatic relations between the two countries. This is part of India’s efforts to build buffer stocks and stabilize the high prices of pulses. Two central government agencies have issued tenders to procure red lentils from the local market as well as through […]
Indian government continues to purchase Canada lentils for buffer stock
KPMG Indirect Tax Head & Partner Abhishek Jain said the amendments proposed are aligned with the apex court’s ruling in the case of Mohit Minerals and help explicitly mention the government’s alignment to the position. “While this has been issued prospectively, the industry has been seeking and successfully claiming refund of taxes already paid for […]
India- Canada ties: The deteriorating Canada-India relationship is now threatening their economies. A potential trade deal is at risk, which could hinder India’s efforts to attract Western investment and serve as an alternative to China. Canada’s supply of potash to India may be affected, along with the higher education sector, as Indian students may avoid […]
Exporters in India have expressed concerns about the slow growth of labour-intensive exports such as garments, gems and jewellery, marine products, and plastics compared to countries like Bangladesh, China, and Vietnam. The Federation of Indian Export Organisations (FIEO) analyzed the sector-wise export performance over the past five years and found that India’s market share in […]
RoDTEP scheme gets extension till June 30
3 years ago
The RoDTEP scheme provides a mechanism for reimbursement of taxes, duties and levies, which are currently not being refunded under any other mechanism, at the central, state and local levels
India’s export of cut, polished diamonds may fall by 22 pc in FY24 on sluggish demand: Icra
3 years ago
India’s export of cut and polished diamonds is expected to decline by 22% to USD 17.2 billion in the current fiscal year, according to rating agency Icra. The decline is attributed to weakened demand from key consuming nations such as the US and Europe, as well as limited demand from China. Additionally, competition from lab-grown […]
The Indian government has extended support under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme until June 30, 2024. The scheme provides reimbursement of taxes, duties, and levies incurred by export entities during the manufacturing and distribution of exported products. The extension aims to help exporters negotiate better terms in the international […]
A growing dispute between India and Canada has erupted following allegations made by Canadian Prime Minister Justin Trudeau over the killing of Khalistani separatist Hardeep Singh Nijjar. Chairman of CTI, Brijesh Goyal, said that the development has sent ripples through the business world. Indian traders have demanded that India should ban import of lentils from […]
In a notification, the Directorate General of Foreign Trade (DGFT) said: “Export of 75,000 MT of non-Basmati white rice to the UAE is permitted through National Cooperative Exports Limited.” India exported $2.2 billion of non-Basmati white rice in FY23 of which Kenya, Madagascar, Benin and the UAE were among the top destinations.
According to a September 24 ToI report, though, the Indian government so far is “comfortable” as far as the import of this item is concerned. Nearly lakh tonnes of it have arrived at Indian ports amid the ongoing diplomatic tiff, ToI said citing officials.