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23 May, 2025 News Image India and Singapore Strengthened Trade Ties with AEO Agreement.
The agreement was formalised between Shri Sanjay Kumar Agarwal, Chairman of the Central Board of Indirect Taxes and Customs (CBIC) of India, and Mr. Tan Hung Hooi, Director-General of Singapore Customs. The AEO MRA aims to recognise the compatibility of both countries’ Authorised Economic Operator programmes. This arrangement is expected to facilitate faster and more secure customs procedures for certified companies, thereby promoting trusted trade and improving the efficiency of regional supply chains. It also underscores the commitment of both nations to improving cross-border trade facilitation and enhancing economic cooperation in the Asia-Pacific region.
 Source:  indiplomacy.com
23 May, 2025 News Image India set for record wheat harvest after favourable weather boosts yield.
India’s wheat output, which was threatened by the second-warmest February in over a century, is likely to be a bumper one this year as favorable weather during the crucial grain-filling stage improved yields. The world’s second-biggest grower is set for a record harvest as climatic conditions were good, and there were no reports of any major damage due to hailstorms or crop diseases, said Ratan Tiwari, director of state-run Indian Institute of Wheat and Barley Research. The increased use of climate-resilient, high-yielding seeds further helped in improving productivity, he said.
 Source:  business-standard.com
23 May, 2025 News Image 'India, Oman close to signing trade pact'.
The proposed India-Oman comprehensive economic partnership agreement is close to conclusion except for a few issues that are yet to be resolved, an official said. The 'Omanisation' policy, which mandates employment of Omani nationals in the private sector, and its market access demands for petrochemical products are some of the remaining issues. New Delhi has insisted that the sector-specific quotas for compulsory employment of Omanis must be frozen at the current levels for India and not increased after CEPA is signed. This assumes significance as the quotas are periodically revised and can vary between 15% and 30%.
 Source:  economictimes.indiatimes.com
23 May, 2025 News Image FSSAI makes closure report of food safety licences mandatory for FBOs.
Food Safety & Standards Authority of India (FSSAI), the food regulator of the country, has made it mandatory for food business operators (FBOs) to submit closure reports on the licences/registrations which expired in FY2024-25. In case the food safety licences/registrations have expired, the operators have to confirm that no food business activity is being conducted from the respective premises since the expiry of the licences. If in case they have renewed or obtained a new licence which needs to be recorded and if not renewed the reasons for non-renewal has to be furnished.
 Source:  hospitality.economictimes.indiatimes.com
23 May, 2025 News Image UK to give non-discriminatory treatment to India in procurement under FTA.
The UK for the first time has agreed to accord non-discriminatory treatment to Indian companies in its public procurement system under the free trade agreement (FTA) between the two countries, an official said. On May 6, the two announced conclusion of negotiations for the FTA. It will be implemented next year.
 Source:  business-standard.com
23 May, 2025 News Image India eyes new markets after record-breaking exports: Tea Board.
India's tea exports have reached a record high, with the country exporting 255 million kilograms of tea worth $924 million in 2024. To sustain this growth, the Tea Board of India is exploring new international markets while maintaining traditional ones.
 Source:  economictimes.indiatimes.com
23 May, 2025 News Image IIMR-run incubator powers India’s millet start-up boom.
If you’ve bought a millet biscuit packet or any other millet-based product from a retail store anywhere in the country, the manufacturer is probably linked to Nutrihub in Hyderabad in one way or the other. It has so far nurtured over 500 millet start-ups, which have raised an aggregate of ₹1,000 crore in various funding rounds, triggering a consumption demand in the country.
 Source:  thehindubusinessline.com
23 May, 2025 News Image India resumes U.S. mango exports after facility glitch.
India's mango exports to the United States have resumed smoothly following the resolution of a technical error at one of the country's main irradiation facilities. The error, discovered at the Maharashtra State Agricultural Marketing Board's Export Facilitation Centre in Vashi, led to the rejection of 25 metric tons of mangoes by U.S. authorities earlier in May. The issue, related to dosimetry readings during the irradiation process on May 8 and 9, disrupted shipments despite initial certification confirming compliance.
 Source:  freshplaza.com
23 May, 2025 News Image Indian High Commissioner presents rice, edible oils to Trinidad.
The Indian government has donated 19,000 kilogrammes of rice and over 12,500 litres of edible oil to Trinidad and Tobago. According to Minister of Agriculture, Land and Fisheries, Ravi Ratiram, the intent of the donation is to support underprivileged and vulnerable communities across the nation.
 Source:  stabroeknews.com
23 May, 2025 News Image India seeks full exemption from US' 26% reciprocal tariffs in interim trade pact.
India and the US are likely to announce an interim trade agreement before July 8, the day Washington's 26% reciprocal tariffs are due to come into force, an official said Wednesday. New Delhi is seeking full exemption from the additional 26% reciprocal tariffs on domestic goods, the official said, adding India will protect its sensitive sectors through quotas or minimum import price.
 Source:  economictimes.indiatimes.com