1.   

Govt notifies new duty drawback rates for exporters

The government has notified revised rates duty drawback for exporters as country's outward shipments slipped into red for the first time in six months in October. The Ministry of Finance has notified the new All Industry Rates (AIR) of Duty Drawback for the 2014-15 financial year. "As before, the drawback rates have been determined on the basis of certain broad average parameters including, inter alia, prevailing prices of inputs, input output norms, share of imports in input consumption, the applied rates of central excise and customs duties...Which are used as input services in the manufacturing or processing of export goods...," it said.

2.   

NFPDC convenes 1st post-reconstitution meeting; Chaired by MoFPI Badal

The reconstituted National Food Processing Development Council (NFPDC) convened its first meeting in New Delhi on November 19, 2014. It was chaired by food processing industries minister Harsimrat Kaur Badal. The council deliberated upon the prevailing issues regarding the development of the food processing sector and the minister’s brainchild, the new food processing policy.

3.   

Canada keen to partner with India in agriculture and processing sectors

Canada is keen to partner with India in the agriculture and processing sectors, particularly in pulses and canola (rapeseed). More than 50 per cent of the total pulses imported by India comes from Canada. India is the biggest producer of pulses in the world at 19 million tonne and their biggest importer - 3.5 million tonne. A Canadian delegation, headed by Brad Wall, premier of the Saskatchewan province of Canada, met agriculture minister Radha Mohan Singh on Wednesday.

4.   

Australia asks India to promote small and medium enterprises

The small and medium enterprises (SME) sector can play a key role in further strengthening trade ties between Australia and India, Australian treasurer said today and asked Prime Minister Narendra Modi to look into promoting this untouched area. Joe Hockey's remarks came during the last leg of the roundtable CEO meet held yesterday. Hockey was a part of discussion where Modi met top honchos of corporate Australia along with his high level CEOs delegation including Adani Group's Gautam Adani, Mahindra & Mahindra's Anand Mahindra and Infosys CMD Vishal Sikka.