Govt extends RoDTEP benefits for exporters till September 30.
The government has extended fiscal benefits under the RoDTEP scheme for exporters by six months, until September 30, amid disruptions to global trade caused by the ongoing West Asia crisis. The Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme, launched in 2021, provides for a refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods, and not being reimbursed under any other mechanism at the Centre, state or local level.
Source: economictimes.indiatimes.com
India has adequate seed stock available amid the Israel-Iran war, says govt official.
India has adequate seed stock available for the upcoming sowing season, a government official said on Wednesday, as war in the Middle East continues to disrupt global supply chain. 'India has enough seed stock available for the upcoming sowing season,' Additional Secretary, Agriculture and Farmer Welfare, Maninder Kaur Dwivedi said during the government's inter-ministerial briefing on recent developments in West Asia.
Source: economictimes.indiatimes.com
Centre plans sweeping reforms as West Asia war jolts supply chains.
The government is drawing up a comprehensive reform road map amid the West Asia conflict, seeking to build on measures already under way, people familiar with the matter told ET. In a communication earlier this month, the Prime Minister's Office asked various ministries and departments to submit reform plans, with an emphasis on actionable measures and low-hanging fruit, they said.
Source: economictimes.indiatimes.com
'India's economy will double every 7-8 years,' says Union Minister Gajendra Singh Shekhawat.
Union Minister Gajendra Singh Shekhawat has stated that India's economy is projected to reach nearly 30 trillion dollars by the year 2047, marking its transformation into a developed nation. Union Minister Gajendra Singh Shekhawat, while speaking to ANI, said, '...The path India is on, the speed at which India is advancing, the foundation that PM Modi has laid for a developed India--the entire world is acknowledging that in the coming times, India's economy will double every 7-8 years. By 2047, when India becomes developed, its economy will have advanced to nearly 30 trillion dollars.'
Source: economictimes.indiatimes.com
Pulses import duties likely to stay unchanged.
The government is expected to keep the current import duties on pulses and extend the duty-free period for tur and urad to prevent price increases, especially with an expected El Nino affecting monsoon rainfall, according to officials. The current duty structure expires on March 31. The production of tur and urad are expected to decline, as per the government's second advance estimate. A decline could mean higher prices and higher food inflation.
Source: economictimes.indiatimes.com
WTO faces new reality of global trade.
The WTO's failure to reach significant agreements during high-level talks in Yaounde demonstrates its inability to adapt to a new reality of fragmented global trade, jeopardising a return to multilateralism, experts warn. The World Trade Organization's 14th ministerial conference wrapped up in the wee hours Monday with no results on the key issues of agriculture and much-needed reform of the organisation.
Source: economictimes.indiatimes.com
Australia seeks 'another crack' at trade deal with India in coming weeks.
India is set to start discussions on a trade deal with Australia in the coming weeks, as Canberra steps up efforts to push forward a fresh bilateral agreement. Australia’s Trade Minister Don Farrell said discussions with India will restart soon, underlining continued engagement between the two sides beyond their 2022 trade pact.
Source: economictimes.indiatimes.com
India cuts sugar allocation for April amid low demand, 15.6 million tonnes released in 7 months.
The Indian government has allocate 23 lakh tonnes (lt) of sugar for sales in domestic market during April, which is lower from 23.5 lt a year ago. It is also lower than the 25 lt allocated in April 2024. Taking the allocation as actual consumption data, though there is marginal variation at total number for the year, the sugar demand for the first seven months of 2025-26 season (October-September) has been pegged at 156 lt against 161 lt a year ago, an estimated fall of 3 per cent.
Source: thehindubusinessline.com
India extends zero duty import of pigeon pea and black matpe, retains 30% tariff on yellow peas till March 2027.
The Indian Government has extended the import policy for key pulses such as tur, urad and yellow peas by another year till March 31, 2027 to ensure adequate supplies. Black matpe (urad) and pigeon pea (tur) imports will continue to remain duty-free, while yellow peas will continue to attract an import duty of 30 per cent. The current import policy for tur, urad and yellow peas ended on Tuesday.
Source: thehindubusinessline.com
Regenerative mustard farming boosts yields by up to 31%, cuts costs: SEA.
The Regenerative Mustard Model Farm programme – jointly implemented by the Solvent Extractors’ Association of India (SEA), AWL, and Solidaridad to promote sustainable and climate-resilient mustard production in India – delivered productivity gains ranging from 21 per cent to 31 per cent, and reduced the cost of cultivation by 5-11 per cent across three states, according to SEA.
Source: thehindubusinessline.com