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25 Jun, 2025 News Image India, UK likely to sign trade pact by July end; commerce secretary in London: Official
The process of legal scrubbing of the India-UK free trade agreement (FTA) text is progressing at a faster pace, and the pact is expected to be signed by the end of July, an official said on Tuesday.To give an impetus to the process, Commerce Secretary Sunil Barthwal is in London with his official team.Barthwal will meet UK Secretary of State for Business and Trade Jonathan Reynolds and other British senior officials during his two-day visit.
 Source:  https://economictimes.indiatimes.com/
25 Jun, 2025 News Image Pulses import value down 37% in April-May at $492 m
“Weak demand coupled with last year’s record purchases had led to slowdown in imports during the first two months of the current financial year,” said Rahul Chauhan of Igrain India. Also, prospects for the domestic production look good with the forecast of above normal monsoon for the year, he said. Pulses acreage has increased by 42 per cent till June 20 in the ongoing kharif cropping season, per the Agriculture Ministry’s latest sowing data. The increase is led by higher area under moong bean at 4.43 lakh hectares (2.67 lh in the corresponding period last year), urad bean at 1.39 lh (0.62 lh) and other pulses 0.94 lh (0.67 lh). However, the acreage under tur was 2.48 lh, marginally lower than corresponding previous year’s 2.61 lh.
 Source:  https://www.thehindubusinessline.com
25 Jun, 2025 News Image CBIC extends NOC validity for imported alcoholic beverages
The Central Board of Indirect Taxes and Customs (CBIC) has extended the validity of no objection certificate (NOC) for imported alcoholic beverages bottled at origin or in bulk with more than 10% alcohol content.
 Source:  https://economictimes.indiatimes.com
25 Jun, 2025 News Image Centre approves procurement of summer moong, urad in MP, urad in UP
The Agriculture Ministry has approved the procurement of summer moong and urad from Madhya Pradesh and urad from Uttar Pradesh at minimum support price (MSP).Agriculture Minister Shivraj Singh Chouhan held a meeting with the agriculture ministers of the two States and approved the procurement under the Price Support Scheme (PSS), according to an official statement.
 Source:  https://www.thehindubusinessline.com/
25 Jun, 2025 News Image Union Commerce and Industry Minister Shri Piyush Goyal Chairs Review Meeting on PLI Scheme
India must focus on the sectors in which India has competitive edge over other countries and address the problems faced by the various stakeholders so that country’s exports can grow. This was stated by Union Minister of Commerce and Industry, Shri Piyush Goyal at the review meeting on Production Linked Incentive Scheme, one of the notable initiatives for making India “Aatmanirbhar’ in the manufacturing sector.
 Source:  https://www.pib.gov.in/PressReleasePage.aspx?PRID=2139489
25 Jun, 2025 News Image Indian basmati 24-25 exports up Rs1,923cr over last season
Despite the shadow of tensions between Iran and Israel, the export of Indian basmati rice surged by Rs 1,923 crore in 2024-25 fiscal year (April-March) compared with the previous fiscal year, according to the data available with the Agricultural and Processed Food Products Export Development Authority (APEDA). The escalating Israel-Iran conflict over the last fortnight had held up Basmati shipments.In terms of value in rupees, the exports were about 3.97% higher than the 2023-24 fiscal year, according to the data compiled by the Kolkata-based Directorate General of Commercial Intelligence and Statistics (DGCIS), aided by the strong demand from the Middle East.
 Source:  https://timesofindia.indiatimes.com
25 Jun, 2025 News Image US & EU trade pacts to be concluded soon: Nirmala Sitharaman
The negotiations for a bilateral trade deal with the United States and a free trade agreement with the European Union (EU) are progressing "really intensely" and should be concluded soon, finance minister Nirmala Sitharaman said Tuesday. Countering a US-led narrative that India is a "tariff king," she said the government has brought down customs duty slabs to eight "including the zero rate" and that effective rates are much lower than the tariff rate, or the maximum possible tax on imports.
 Source:  https://economictimes.indiatimes.com/
25 Jun, 2025 News Image Govt bans import of watermelon seeds due to excess supply
India imported 83,812 tonne of watermelon seeds last fiscal against almost double the average import of 40,697 tonnes in the last three years, according to the Ministry of Commerce website.The government has taken the decision to ban watermelon seeds imports based on the plea by Laghu Udyog Bharati, an all-India organisation dedicated to protect interest of Micro and Small Enterprises.
 Source:  https://www.thehindubusinessline.com
24 Jun, 2025 News Image Asean not keen to review trade pact: Government.
Commerce and industry minister Piyush Goyal on Tuesday said little headway was made in the review of 15-year-old free trade agreement (FTA) with Asean, despite nine rounds of negotiations since 2022.The minister's statement came days after controversy erupted over his comments on some of the Asean countries being a B-team of China. While the assertion was not taken favourably by some of the countries.
 Source:  timesofindia.indiatimes.com
24 Jun, 2025 News Image Indian rapeseed meal exports soar as China replaces Canadian canola supply.
China is set to make record purchases of rapeseed meal from India following Beijing’s move to impose a 100 per cent retaliatory tariff on Canadian canola imports, senior industry officials said. Why it matters: China, a key importer of Canadian canola, has placed a 100 per cent tariff on canola oil and meal.
 Source:  ukragroconsult.com