Ministry planning to exempt perishable agri products from GST: Harsimrat Kaur Badal
Sai Nikesh D | The Dollar Business Harsimrat Kaur Badal, Minister of Food Processing Industries, India, has assured the food industry that the agri and food sectors would have a minimal impact of the Goods and Service Tax (GST) when it is rolled out in next year and the Ministry would try to keep perishable agri products outside the purview of GST. Badal informed about the Ministry’s plans to Alok B. Shriram, President, PHD Chamber, when he led a delegation, consisting of its Senior Vice-President, Vice-President and Executive Director Mahesh Gupta, Gopal S Jiwarajka and Saurabh Sanyal, among others at her office in New Delhi yesterday. GST is an all-encompassing tax that will absorb central taxes like Central Excise ...
Indias cashewnut exporters eye emerging China market
Recent hike in wages in Kerala and import duty imposed by China put India at a disadvantage compared to countries like Vietnam which has overtaken India as the world’s largest cashewnut exporter Bidhu Bhushan Palo | The Dollar Business India’s cashewnut exporters are facing a tough time due to multiple factors that include higher input costs, shrinking sources and trade barriers in exporting to China. India is the world’s largest producer of cashewnuts and is known as a source of good quality cashewnuts. It was also the top exporter, but has now been replaced by Vietnam, which is keen to increase its cashewnut exports from the current $2 billion (around Rs.12,500 crore). Despite various incentives provided to cashew nut ...
Indias agri exports fastest growing in the world: USDA
Bidhu Bhushan Palo | @TheDollarBiz Growing production due to government support is behind India's agri export competitiveness, says report India’s agri exports have grown at a rate of over 21% in the last decade (2003-2013) helped by government support and a changing export matrix, according to a new report by the US Department of Agriculture (USDA). India’s rapid growth overshadows the growth rate of 15% recorded by Brazil, 12% by China and 9% by USA in the sector in the last ten years. Last year, India overtook Australia to become the world’s seventh largest exporter of agricultural products (up from the 13th position in 2003), and in terms of net exports, India is now the world’s sixth-largest net exporter of agricultural ...
Indias spices exports likely to reach a record high in FY2014-15
The Dollar Business Bureau | @TheDollarBiz Strong demand in international markets may help spices exports from India to reach a record high in FY2014-15, the Spices Board of India said during the release of export figures for April – July 2014 this week. According to the Spices Board, India has exported 2,71,280 tonnes of spices and spice products during April – July 2014, which is up about 10.2% from 2,46,060 tonnes exported during the same period last year. In rupee terms, earnings due to spices exports are up about 11% to Rs.4,339 crore (up from Rs. 3,892.72 crore in April – July 2013), while in term of USD, export earnings are up 6% to $721.02 million, up from $682.79 million earned ...
