The move comes amid sharp increase in retail prices of onion since August despite the government's several measures to boost the supply and contain prise rise.
The minister emphasised that India will play its due role in advancing global food security and it will do so in a manner in which it upholds equity, displays compassion, and promotes social justice.
Falling private sector investment and farm distress are problems that call for immediate attention, says T N C Rajagopalan.
Government allows duty-free import of 500,000 tonnes raw sugar till June 12. At present, India levies an import duty of 40% on sugar
Conformity assessment procedures will be put in place to verify that goods and services sold on e-commerce platforms meet required standards and technical regulations, according to the draft e-commerce policy. The policy, which is under discussion, also stated that actions and things which cannot be done by the online platform entities "can also not be done" by any of its associates and related parties. Government may, from time to time, notify parties which fall in the definition of associates and related parties, it said.
Exporters can make payment of fees through debit/credit cards.
Pharma firms will have to affix barcodes on consignments of all tertiary level packaging, such as cartons, following a government order.
India's import trade is regulated by the office of the Director General of Foreign Trade and its regional offices functioning under the Ministry of Commerce.
This decision is based on the precedent in the case of Iran where DGFT last week allowed export proceeds realised even in Indian rupees to be made eligible for export benefits and incentives under India's foreign trade policy.
At the benchmark Lasalgaon Agricultural Produce Market Committee (APMC) mandi, the model onion price shot up to Rs 21.50 a kg on Thursday, as against Rs 16.50 a kg on Wednesday. This was the highest since February 11.
Imports too contracted during the month by 7.61 per cent to $37.9 billion.
The Directorate General of Foreign Trade said in a directive that telecom operators will have to refund the duty sops availed under the commerce ministry's export promotion scheme for services -- Served From India Scheme.
The government has banned import of CDMA mobile phones that lack unique electronic serial number and mobile equipment identifier, which help authorities identify and track users.
At Lasalgaon mandi, Asia's largest onion selling market, the onion price jumped Rs 1.50 a kg to Rs 32 a kg, the highest since January last year.
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
MCA portal clocks 5 mn views in 8 months; ministry to integrate company records portal with DGFT, I-T dept this year
The government has withdrawn the 'export licence' restriction for overseas sale of onion, as the prices of commodity have started to soften in domestic market. The Director General of Foreign Trade has notified that the export of onions could be undertaken after getting the no-objection certificate from NAFED and 12 other state trading agencies.
The Government of India is in constant touch with its counterpart in Myanmar for opening a trade route to link the land locked North-East Indian states to markets in ASEAN countries, through Myanmar. The Director General of Foreign Trade (DGFT), R S Gujral, had disclosed that discussion with the Myanmar government was on regarding opening of the trade route through that country. He hoped that it would come through for the benefit of exporters from the landlocked North East.
The government can argue the change targets only those residing abroad but the fact remains that it does affect the kin and friends in India of non-residents.
India consumes around 24-25 million tonnes of pulses, but sowing trends show this year production is expected to be lower compared to last year.
Director General of Foreign Trade said on Thursday that India will have to double its exports to $80 billion while maintaining a growth rate of 12 per cent in order to increase its share of global trade to one per cent by 2007.
Tatas and Singapore Airlines have assured the government that control of their proposed airline venture would always remain in Indian hands, while seeking approval to offer passenger services on both domestic and international routes.
Cos can apply for PAN card number online through e-Biz portal.
The fall in exports of gems and jewellery exports is mainly because of shortage of raw-material for jewellery manufacturing.
Concerned over decline in gold exports from SEZs following ban on its trading, the government has allowed units in these zones to export gold items after a minimum value addition of 3 per cent.
Foreign Trade Policy: More incentives for exports, focus on ease of trading
The Reserve Bank of India on Monday moved on Monday to tighten gold imports again in an attempt to rein-in a record high current account deficit by taming demand for the yellow metal.
World Bank's Doing Business Indicators ranks India (out of 189) at 132 for trading across borders.
Exports in May 2012 stood at $24.77 billion.
With EU, it is part of the FTA that we will need to negotiate.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
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