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Jan 17, 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
Jan 17, 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
Jan 16, 2025 News Image India, Oman aiming to seal mega trade deal.
India and Oman are looking at sealing a broad trade and investment pact this year that will cut tariffs on each other’s goods and boost the overall trade basket in line with renewed vigour in the relations, especially in the economic sphere. The negotiations for a comprehensive economic partnership agreement (CEPA) gained new momentum after Oman’s Sultan Haitham bin Tarik travelled to India over a year back.
 Source:  tribuneindia.com
Jan 16, 2025 News Image Dr. Philipp Ackermann, Ambassador of the Federal Republic of Germany, Meets Dr. Devesh Chaturvedi, Secretary, Ministry of Agriculture and Farmers Welfare.
Dr. Philipp Ackermann, Ambassador of the Federal Republic of Germany, called on Dr. Devesh Chaturvedi, Secretary, Ministry of Agriculture and Farmers Welfare (MoA&FW), at Krishi Bhawan. The meeting provided an opportunity to explore avenues for further enhancing cooperation in agriculture and allied sectors, including post-harvest technology, organic and natural farming, and agricultural mechanization.
 Source:  pib.gov.in
Jan 16, 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
Jan 16, 2025 News Image Rupee depreciation will boost India’s export competitiveness in US, EU: Govt sources.
The depreciation of the rupee should be considered in the context of currency trends across the globe, government sources have noted. They pointed out that the rupee has been appreciating relative to most other currencies, including those of emerging economies.
 Source:  cnbctv18.com
Jan 16, 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
Jan 16, 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
Jan 16, 2025 News Image DGFT Updates Schedule II of India’s Export Policy.
The updated 'Schedule-II (Export Policy)' aligns with the Finance Act 2024, which was notified on August 16, 2024. The revised schedule includes the current export policy for all ITC (HS) codes, along with any specific conditions that must be met. Previously, specific policy conditions were only applied to goods with restrictions or special regulations.
 Source:  india-briefing.com
Jan 16, 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