Taking yet another measure to check inflation through improving domestic supplies, the government today stopped export incentives on basmati rice. "Export of basmati rice shall not be entitled for DEPB (Duty Entitlement Pass Book) benefits," the Directorate General of Foreign Trade said in a notice. Government has already banned export of non-basmati rice & revised upward the minimum export price for basmati rice. Inflation for the week ended March 22 has touched the 7% mark.
To cut transaction costs for traders, the government has launched an online facility for issuing Importer-Exporter Code Number.
Export-Oriented Units (EOUs) in the country are likely to continue to enjoy income-tax benefits even after the ensuing deadline of March 2009.
The government has formed the Export Promotion Council for Pharmaceuticals (Pharmaexcil) to boost pharma exports.
Currently, the five-year FTP aims to raise total exports to $900 billion but targets may be reduced
In 2006, FCI's procurement fell sharply to 9.2 million tonnes from 14.8 million tonnes in the previous year, forcing the government to import 5.5 million tonnes.
India is heading for a major rise in food prices especially rice and pulses. Following the global trend and anticipating a shortage, Central government has raised the minimum price for non-Basmati rice exports. Other countries like Egypt and Cambodia have imposed restrictions on export of rice. With rice being staple food in many countries export restrictions will affect prices in the importing countries. These countries are already facing social unrest over high food prices.
The government on Thursday launched a Grievances Redress Cell for exporters and importers in a bid to improve the of the directorate general of foreign trade.
From toys, footwear and furniture to insulated flasks, smart meters, and air coolers - the Central government over the last decade has mandated higher standards for production and imports of such items. Sample this: Till 2014, there were 14 Quality Control Orders (QCOs) covering 106 products. By the latest count, there are 156 QCOs on 672 products.
Prime Minister Narendra Modi on Saturday welcomed a host of world leaders, including United States President Joe Biden and United Kingdom Prime Minister Rishi Sunak, at the Bharat Mandapam, the venue of the G20 Summit.
Small and medium enterprises would continue to play a vital role in enhancing India's exports, L Mansingh, the director general of foreign trade, said in New Delhi.
The government on Wednesday ruled out revising the export growth target downwards in the wake of rupee appreciation and said it was slated to grow at 12 per cent during this fiscal.
As many as 267 of 453 companies from the BSE500 index are trading above their consensus price targets, according to the data compiled by Bloomberg. Not all companies in the BSE500 index are tracked by analysts.
A significant surge in the imports of crude palm oil has led to a 17 per cent growth in the imports of 300 sensitive items during the period April-October.\n\n\n\n
The government on Thursday banned exports of non-basmati white rice to boost domestic supply and keep retail prices under check during the upcoming festive season. There would be no change in export policy of par-boiled non-basmati rice and basmati rice, which forms the bulk of exports, the food ministry said in a statement. Non-basmati white rice constitutes about 25 per cent of total rice exported from the country.
The dealers operating in the space have jumped nearly three times over the past two years.
A delegation of high-level executives from US public pension funds (non-profit and government sectors) is visiting India next week to assess and familiarise themselves with the investment opportunities in the country. These executives belong to various American states and cumulatively represent $1.8 trillion in assets under management (AUM) invested across the US and global markets. The United States (US) mission to India, which includes its embassy and consulates and the Department of Treasury, along with India's Ministry of Finance and the National Investment and Infrastructure Fund (NIIF), is hosting the delegation.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
The government on Saturday imposed a minimum export price (MEP) of $800 per tonne on onion exports till December 31 this year with a view to increase availability of the vegetable in the domestic market and contain prices. The decision will come into effect from October 29. Besides, the government has also announced the procurement of additional 2 lakh tonnes of onion for the buffer, over and above the 5 lakh tonnes already procured.
Exports to Greece from India are $360 million a year.
During 2013-14, total value of exports stood at $465.90 billion.
'Trump's disregard for norms and institutions could prove very costly for America's social fabric.'
The current total installed capacity of the seven manufacturers of remdesivir is 38.80 lakh vials per month, the Ministry of Chemicals and Fertilizers said in a statement.
