The finance ministry today clarified that renting or leasing of land by farmers for agriculture, forestry, fishing or animal husbandry is exempt from the GST. Clarifying on the applicability of GST on farmers, the ministry said support services to agriculture, forestry, fishing or animal husbandry are exempt from the Goods and Services Tax (GST). Exempted support services to agriculture include renting or leasing of vacant land with or without a structure incidental to its use Thus, renting or leasing of land by farmers for agriculture, forestry, fishing or animal husbandry […]
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The Philippines’ state grains procurement agency on Tuesday gave the go-ahead for local traders to import up to 805,200 tonnes of rice under an annual quota scheme, which should boost domestic supply and keep rising prices in check. The imports, which should be shipped in starting July, wouldbring total rice purchases approved this year to 1.3 million tonnes, including half-a-million tonnes that the National Food Authority (NFA) has bought to replenish its depleted buffer stock. The Southeast Asian country, a frequent rice buyer, is seeking to stabilise retail prices of […]
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Arunachal Pradesh Chief Minister Pema Khandu today stressed the need to legalise harvesting and trade of medicinal plants in the state to save the crops from over-exploitation, an official release said. Chairing a review meeting of the state forest department here, Khandu said, Hundreds of medicinal plants face threats of extinction because of over-harvesting and destructive collection techniques. A mechanism should be devised to facilitate farmers to grow endangered medicinal plants for sustainable income, the chief minister said. Source: Money Control
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India has agreed to a renewed push for the proposed trade deal with the European Union (EU) that has been stuck over key issues. The decision to find a way forward before the 15th India-EU summit, set to be held later this year, came on Thursday, as Prime Minister of the Netherlands, Mark Rutte began his 2-day trip to India. Beginning in 2013, the proposed trade deal had completed 16 rounds of talks but negotiations had broken down in 2016 over India’s position on a separate bilateral investment pact. This […]
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Exports of organic products from India have risen over 20 per cent in the fiscal just ended owing to the growing global appetite for healthy food that is free from chemicals and pesticides residues. This is also a leg-up for the government’s plans to expand the area under eco-friendly and sustainable farming, stakeholders say. As per the Agricultural and Processed Food Products Export Development Authority (APEDA), India exported organic products worth Rs 30 billion (over $440 million) in 2017-18, from Rs 24.77 billion in 2016-17. The major demand under organic […]
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In a bid to boost export of mangoes by around 25 per cent, traders are exploring options of exporting varieties other than Alphonsoes to newer markets. Italy and Philippines are emerging as new destinations for exported mangoes, though the domestic price of the fruit remains high due to lesser produce this year. Sunil Pawar, managing director of the Maharashtra State Agricultural Produce Marketing Board (MSAMB), said many farmers’ organisations have started exploring export options for varieties like Kesar, which grows abundantly in Nashik and in parts of Marathwada. We are […]
Read MoreSkill Development & Entrepreneurship Minister Dharmendra Pradhan on Monday emphasised on recognising the traditional skill for economic development of the country. Addressing the inaugural session, of the ‘Odisha Skill Conclave, Dharmendra Pradhan said that all traditional skills need to be formally recognized under Skill Development and proper training needs to be imparted in these work-of-art translating into the further economic growth. Skill development is a national dialogue and there have been isolated efforts to promote skill development in the State thus far; but it is our endeavour now to join […]
Read MoreSlow growth in India’s exports has prompted the government to promote merchant exporters, who contribute almost a third of India’s exports in value terms but can’t avail of some incentives meant for manufacturer exporters. Merchant exporters do not own manufacturing facilities but buy goods from manufacturers here and sell to overseas customers. They have the flexibility to procure goods from many sellers and sell them after negotiating the best prices to foreign buyers They are usually able to negotiate prices with buyers, sellers and shipping lines which are better than […]
Read MoreSouth Asia is currently witnessing a rapid growth spurt, with a resurgence in investor interest despite the occasional geopolitical foible. India and Vietnam hold key positions in this region – on both trade and commerce as well as understanding on political and security issues. As a member of the Association of Southeast Asian Nations (ASEAN), Vietnam is an important enabler for India’s growing trade and investment ties with the rest of Southeast Asia – the focus of India’s ‘Act East’ Policy. In 2017, India and Vietnam celebrated 45 years since […]
Read MoreAfter three years, basmati has regained the top slot in the exports of agri and processed food category in 2017-18, surpassing buffalo meat. During the year, basmati contributed 22.60% to the country’s total agricultural and processed food products’ exports (value-wise), followed by buffalo meat (21.86%). Buffalo meat has been the highest agri-related export item from India for three consecutive years i.e in 2014-15, 2015-16 and 2016-17. In 2013-14, basmati was the top agri export item from the country. According to Agricultural and Processed Food Products Export Development Authority’s (APEDA) provisional […]
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