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17 Jan, 2025 News Image India central bank liberalises FX rules to promote cross-border trade.
To encourage the use of the rupee and other currencies to settle cross-border transactions, India's central bank took steps to further liberalise regulations under the foreign exchange management act, it said in a release on Thursday. Indian exporters will now be able to open accounts in any foreign currency overseas to settle trade transactions, including receiving export proceeds, and use these proceeds to pay for imports, the Reserve Bank of India said.
 Source:  reuters.com
17 Jan, 2025 News Image Bagalkot exports over 34k MT of horticulture produce, reaching global markets.
Bagalkot district, renowned for its horticulture products, has achieved remarkable success in exports. Grapes, red chillies, turmeric, onions, bananas, and other produce are now drawing the attention of both domestic and international buyers. Ravindra Hakati, deputy director of horticulture, Bagalkot, told TOI that the district exported horticulture produce of 34,100 metric tonnes and generated a revenue of Rs 366 crore for farmers.
 Source:  timesofindia.indiatimes.com
17 Jan, 2025 News Image India’s rice exports up by 64% in December.
India’s agri-food export sector recorded robust growth in December 2024, with rice exports witnessing an impressive rise of 64.03 per cent, climbing from $0.87 billion in December 2023 to $1.43 billion in the same month this year. This remarkable performance solidifies India’s position as a key player in the global agricultural market.
 Source:  nuffoodsspectrum.in
17 Jan, 2025 News Image Bangladesh: Import of 1 lakh tonnes of rice from India, Pakistan approved.
The cabinet committee on government purchase at a meeting on Thursday approved two separate food ministry proposals to import total one lakh tonnes of rice from India and Pakistan. Presided over by finance adviser Salehuddin Ahmed at the secretariat in the capital Dhaka, the meeting approved a proposal from the food ministry to procure 50,000 tonnes of atap rice from Pakistan under a government-to-government deal with per tonne costing $499.
 Source:  newagebd.net
17 Jan, 2025 News Image India-UAE: A Strategic Partnership to Boost Food Trade and Investment.
India’s food sector has experienced exponential growth in recent years, solidifying its position as a crucial driver of the nation’s economic resilience. Indian agricultural and food exports have significantly contributed to this growth, fostering strategic collaborations with various countries and stimulating investment. India’s longstanding bilateral trade relations with the United Arab Emirates (UAE), which intensified following the UAE’s unification in 1971, have led to increased Indian exports and the establishment of diplomatic ties between the two nations.
 Source:  news18.com
17 Jan, 2025 News Image India seeks improved Nigeria trade relations.
The Consul General of India in Lagos, Shri Chandramouli Kumar Kern, announced that efforts will be heightened to enhance the trade relations between India and Nigeria, which are currently valued at $7.89 billion. During an interview with journalists at a free health camp organised by the Indian Pharmaceutical Manufacturers and Importers of Nigeria (IPMIN) in collaboration with the Ilupeju Estate Owners and Residents Association, in Lagos,he emphasised that the conducive business environment created by the Federal Government has facilitated the expansion of Indian companies’ investments in diverse sectors such as pharmaceuticals, power, and construction.
 Source:  thenationonlineng.net
16 Jan, 2025 News Image Ease of doing business: FSSAI says any changes in labelling regulations will be enforced from July 1 every year.
In a bid to promote ease of doing business, the Food Safety and Standards Authority of India (FSSAI) on Wednesday said that it has decided to enforce any changes or amendments in labelling regulations from July 1 every year. It said this will provide food business operators a predictable regulatory environment and also ensure greater transparency for consumers. The labelling regulations are enforced through Food Safety Standards (Labelling and Display) Regulations 2020.
 Source:  thehindubusinessline.com
16 Jan, 2025 News Image India doing FTAs only after extensive stakeholder consultations: Piyush Goyal.
Commerce and Industry Minister Piyush Goyal on Tuesday said India is finalising free trade agreements (FTAs) only after extensive consultations with all the concerned stakeholders. He said that unlike in the past, these pacts are now fair, equitable and balanced.
 Source:  economictimes.indiatimes.com
16 Jan, 2025 News Image Golden spice. India launches National Turmeric Board to boost exports to $1 billion by 2030.
With turmeric exports expected to cross the $1-billion mark by 2030, the Union Government has opened the national Turmeric Board to develop and grow turmeric and turmeric products in the country. Union Minister for Commerce and Industry Piyush Goyal formally inaugurated the board’s office in Nizamabad in northern Telangana, one of the key turmeric hubs in the country.
 Source:  thehindubusinessline.com
16 Jan, 2025 News Image 15th round of India-UK FTA talks to begin in February.
The negotiations on a free trade agreement (FTA) between India and the UK are expected to resume in early February, after months of pause due to the general election in the UK, a senior official said on Wednesday.
 Source:  financialexpress.com