The Minister of Commerce and Industries, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyaltoday called for free trade within a rules-based multilateral trading system with honesty and transparency as core values. He added that wherever India faces an unfair or unjust treatment, it will take reciprocal action. Shri Goyal also emphasized upon the need for resolution of issues posed by Non- Tariff Barriers in international trade. He was addressing the 54thConvocation of Indian Institute of Foreign Trade in New Delhi today. Referring to India’s recent achievement of […]
Read MoreThe Spices Board has sought to elevate India’s share of spices and product exports by focusing on buyer-seller meets and other market linkage programs through virtual platforms. As per the Spices Board, the total share of spice exports raised the landmark level of $4 billion in value realization during 2020-21. D. Sathiyan, Secretary of, Spices Board, said that the Board has been organizing a series of virtual buyer-seller-meets to make sure that there’s no hindrance or gap in the sourcing & supply of spices from the country. It has been […]
Read MoreIndia has turned a major wheat supplier for countries in South Asia and the Indian Ocean Region, mainly West Asia, as prices in the global market have surged near eight-year high, according to officials and industry experts . Rising freight charges have also resulted in these countries turning to India to meet their wheat demand. #aptsoexports#Indiaexport#export
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The US wants to reduce its trade deficit with India as quickly as possible, a senior official told lawmakers here, asserting that the Trump administration is aggressively pushing New Delhi on the issues of medical devices, pharmaceuticals, dairy products and agriculture. The President wants fair and reciprocal trade…when we look at India, there are three sectors where, I think, we can get a significant boost in our trade, Alice G Wells, Principal Deputy Assistant Secretary of State for South and Central Asia, told lawmakers during a Congressional hearing yesterday. When […]
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The country has exported around 1,190 tonne of mangoes to the United States of America (USA) this season — an all time high. The Countrys mango export to the US recorded a rise of 11% as compared to the last year’s figure of 1,072 tonne. However, the exporters had projected around 30% rise in figures, but the recent farmers’ strike affected the supply of mangoes drastically. Source: Times of india
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The government is considering incentivising exports of milk products, adding milk to mid-day meal rations as well as reducing GST and increasing import duty on certain products as it seeks ways to ensure better returns for dairy farmers. On Tuesday, the Centre convened a high-level inter-ministerial meeting under transport minister Nitin Gadkari to discuss these measures, even as a strike by dairy farmers in Maharashtra continued for the second day. Railway minister Piyush Goyal, who also holds the finance and coal portfolios, Amul managing director RS Sodhi, Maharashtra State Commission […]
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The World Bank has forecast a growth rate of 7.3 per cent for India this year and 7.5 per cent for the next two years, making it the fastest growing country among major emerging economies. A top World Bank official said India’s economy is robust, resilient and has potential to deliver sustained growth Growth in India is projected to advance 7.3 per cent in Fiscal Year (FY) 2018/19 (April 1, 2018-March 31, 2019) and 7.5 per cent in FY 2019/20, reflecting robust private consumption and strengthening investment, the bank said […]
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India will soon have a policy on cargo, or the carriage of goods, that is being finalised by the new department of logistics, the government said on Friday. Addressing the fourth Supply Chain Management and Logistics Summit organised by Economic Times, Commerce Minister Suresh Prabhu said his ministry is putting the final touches on a policy for the logistics sector as part of a comprehensive plan to boost business and exports. It will include a new industrial policy, one for agriculture exports and developing parameters for the country’s districts on […]
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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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