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19 Aug, 2024 News Image Iran turns saviour for pricey Indian soyameal exports.
Iran has turned out to be the saviour for the Indian soyameal exports during the oil year 2023-24 ending September.
 
Strong buying from Iran is likely to push up soyameal exports during oil year 2023-24 to 21 lakh tonnes, an increase of 14 per cent over previous year’s 18.36 lakh tonnes, according the Soyabean Processors Association of India (SOPA), the apex trade body.

 Source:  www.thehindubusinessline.com
19 Aug, 2024 News Image India-Australia trade deal talks resume today.
Chief negotiators of India and Australia will begin the next round of talks for the comprehensive free trade agreement from Monday in Sydney, where both sides are likely to close negotiations on several chapters of the pact, an official said.
 
Both countries have already implemented an interim pact and are in discussions to expand its scope under the CECA (Comprehensive Economic Cooperation Agreement).
 
The interim pact — Economic Cooperation and Trade Agreement (ECTA) — came into force in December 2022. The tenth round of negotiations is scheduled from August 19-22 in Sydney.

 Source:  timesofindia.indiatimes.com
19 Aug, 2024 News Image World Avocado Organisation to promote fruit s nutritional and health benefits in India.

The World Avocado Organisation (WAO), a non-profit organisation that represents producers, exporters and importers of avocados from across the world, has launched a consumer education campaign in the country to promote avocados’ nutritional and health benefits.


 Source:  www.thehindubusinessline.com
19 Aug, 2024 News Image APEDA facilitates first shipment of Fig Juice to Poland.

The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated the export of India's first ready-to-drink fig juice, made from GI-tagged Purandar Figs, to Poland. This milestone shipment, flagged off by  Chairman APEDA, Shri Abhishek Dev in the presence of all stakeholders, departed on August 1, 2024, via Hamburg port in Germany. This event marks a significant achievement in promoting India's unique agro-products on the global stage.


 Source:  pib.gov.in
19 Aug, 2024 News Image Commerce dept mulls options for key export schemes.
The commerce and industry ministry is pushing for the continuation of two key export incentive schemes even as it weighs various options such as lowering the sops if they’re not allocated more funds.
 
The ministry has moved a note for the approval of the Expenditure Finance Committee (EFC) to extend to the Interest Equalisation scheme by five years, which is available for small businesses and products falling under 401 tariff codes, till August 31. The total outlay of the scheme is capped at Rs 750 crore.

 Source:  economictimes.indiatimes.com
19 Aug, 2024 News Image VP urges the industry, trade, and commerce sectors to prioritize local production over avoidable imports.

Vice-President, Shri Jagdeep Dhankhar today called upon the nation to embrace economic nationalism, urging the industry, trade, and commerce sectors to prioritize local production over avoidable imports. Emphasizing the concept of Economic nationalism as a facet of Swadeshi and a reflection of being vocal for local, Shri Dhankhar highlighted the negative impact of unnecessary imports on the economy, including the drain of foreign exchange and the loss of job opportunities for Indian workers.


 Source:  pib.gov.in
16 Aug, 2024 News Image Malaysian PM Anwar Ibrahim to visit India next week; several pacts set to be inked.

Malaysian Prime Minister Anwar Ibrahim will visit India from August 19 to 20 during which both sides are expected to sign several pacts including one on recruitment of Indian workers, people familiar with the matter said on Tuesday.


 Source:  indianexpress.com
16 Aug, 2024 News Image India, Russia discussing rupee-rouble trade; reducing non-tariff barriers: Commerce Secretary.

India and Russia are discussing holding trade in local currencies and reducing non-tariff barriers by Moscow to boost the bilateral trade, Commerce Secretary Sunil Barthwal said on Wednesday.


 Source:  economictimes.indiatimes.com
16 Aug, 2024 News Image India s total exports estimated to grow at 2.81% in July 2024.The cumulative overall exports during April-July 2024 estimated to grow at 6.65%.
India’s total exports (Merchandise and Services combined) for July 2024* is estimated at USD 62.42 Billion, registering a positive growth of 2.81 percent vis-à-vis July 2023.Total imports (Merchandise and Services combined) for July 2024* is estimated at USD 72.03 Billion, registering a positive growth of 7.14 percent vis-à-vis July 2023.
 

 Source:  pib.gov.in
16 Aug, 2024 News Image Shri Chouhan urges farmers to start a new era under the leadership of Prime Minister Modi.
Union Minister of Agriculture and Farmers’ Welfare and Rural Development Shri Shivraj Singh Chouhan said that since independence, the Prime Minister has been hoisting the flag from the ramparts of the Red Fort, but earlier no government had invited farmers on Independence Day because farmers were never in the priority of previous governments. Shri Chouhan thanked and congratulated Prime Minister Shri Narendra Modi who invited farmers on Independence Day.
 

 Source:  pib.gov.in