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12 Apr, 2024 News Image Britain suspends import duties on over 100 items.
Britain on Thursday suspended import duties on more than 100 items, including car parts and fruit juice, until June 2026, responding to industry demand as ministers seek to help domestic firms keep a lid on costs.
The government said it would implement 126 new tariff suspensions on goods which aren't produced in sufficient quantities in Britain. It also said 11 other existing suspensions would be extended.

 Source:  reuters.com
12 Apr, 2024 News Image Disclosure of pulses stock mandatory from April 15.

The government has made it mandatory for pulses importers, millers, stockists, traders, and processors to disclose their stocks of all pulses from April 15 to prevent hoarding as it suspects a large quantity of imported legumes are lying in customs warehouses.


 Source:  economictimes.indiatimes.com
12 Apr, 2024 News Image India reviewing Asean trade pact with an eye to boost domestic manufacturing.

India has begun looking at several products where taxes on input items are higher compared to the finished goods as part of a comprehensive review of its trade pact with the 10-member Asean to correct several anomalies that have undermined domestic manufacturing.


 Source:  economictimes.indiatimes.com
12 Apr, 2024 News Image Global trade to pickup in 2024: WTO.
Global goods trade is expected to pick up gradually this year following a contraction in 2023, the World Trade Organization (WTO) said in a forecast Wednesday. The volume of world merchandise trade should increase by 2.6% in 2024 and 3.3% in 2025 after falling 1.2% in 2023, it said but cautioned that regional conflicts, geopolitical tensions and economic policy uncertainty pose substantial downside risks to the forecast.
 

 Source:  economictimes.indiatimes.com
10 Apr, 2024 News Image India s NCEL to export 1,600 tonnes of white rice to Singapore.
India’s National Cooperative Export Ltd, jointly owned by India’s five top cooperative organisations, will export 1,600 tonnes of white rice to Singapore following successful negotiations with the island nation’s aggregator. 
'We will soon negotiate to export 2,000 tonnes more. The shipment will be done in April itself,' said Jayen Mehta, Managing Director, Gujarat Cooperative Milk Marketing Federation (GCMMF), which owns the Amul brand. As Amul is one of the promoters of NCEL, Mehta is its operational head.
 

 Source:  thehindubusinessline.com
10 Apr, 2024 News Image India, Luxembourg hold second round of foreign office consultations in Delhi .

The 2nd round of India-Luxembourg Foreign Office Consultations (FoC) took place on Tuesday in New Delhi, with the discussions centering on bilateral relations and emphasis laid on the early conclusion of a comprehensive, balanced and mutually beneficial India-EU Free Trade Agreement.


 Source:  aninews.in
10 Apr, 2024 News Image Melon seeds permitted without restrictions from May 1 to June 30 on actual user basis.
The government has said imports of melon seeds are permitted without any restrictions from May 1 to June 30 on an actual user basis to eligible processors of this commodity only, according to a notification.
The Directorate General of Foreign Trade (DGFT) said that the imports will be permitted only against a valid FSSAI (Food Safety and Standards Authority of India) manufacturer license for melon seeds.

 Source:  ptinews.com
10 Apr, 2024 News Image Indian food processing sector to focus on R&D to take the sector to next level.
Anita Praveen, secretary, ministry of Food Processing, Government of India said that the Indian agriculture sector is witnessing a robust growth with record levels of production and Food Processing sector has become one of the priority sectors for growth. She said, 'We have already reached high levels of growth with the resources we have. There is a need now for the food processing sector with R&D as focus for taking the sector to the next level.'
 

 Source:  fnbnews.com
10 Apr, 2024 News Image India s trade talks with South American trade bloc on the back burner.
Talks between India and South American trade bloc Mercosur have been put on the back burner with both sides focused on concluding their long-pending free-trade agreements with other regions, a person with direct knowledge of the matter told Mint.
The talks were meant to expand the number of products enjoying low- or no-tariff benefits under a preferential trade agreement from about 450 to 1,500-2,000.

 Source:  livemint.com
10 Apr, 2024 News Image Disclosure of pulses stock mandatory from April 15.
The government has made it mandatory for pulses importers, millers, stockists, traders, and processors to disclose their stocks of all pulses from April 15 to prevent hoarding as it suspects a large quantity of imported legumes are lying in customs warehouses.
Consumer Affairs Secretary Nidhi Khare will meet pulses traders, representatives of various government departments such as customs and state government representatives in separate meetings to discuss measures for bringing imported pulses, which are lying in customs warehouses, to the market.

 Source:  economictimes.indiatimes.com