India's commerce department is working to resolve the credit issues faced by exporters, particularly small businesses, due to a lack of access to finance. Banks and the Reserve Bank of India (RBI) have not been intervening effectively. One idea being discussed is establishing a credit guarantee fund for export finance, similar to the post-Covid loan package, which would eliminate the need for businesses to provide collaterals.

The Reserve Bank of India on Monday entered into a Currency Swap Agreement with the Maldives Monetary Authority (MMA) under the SAARC Currency Swap Framework 2024-27.

In an attempt to streamline various standards followed with regard to Halal certification of meat and meat products exported from India, the Directorate General of Foreign Trade (DGFT) has made it mandatory for exporters to have certification from the Quality Council of India (QCI) if they want to export such products to some 15 countries, including the UAE, Singapore, and Indonesia, effective from October 16.

Yogi government is going to establish an export hub near Jewar airport under the UP Agriz project to boost the income of the farmers of the state, agricultural productivity and agriculture related industries. It will be implemented with the help of the World Bank. Apart from this, agricultural SEZ (Special Economic Zone) will be established to export 2 to 3 crops on a large scale globally.

Pune Airport is set to enhance its international flight operations, with the addition of two new routes following the successful launch of services to Singapore and Dubai. A direct flight to Bangkok is expected to commence soon, promising increased connectivity for travelers. However, despite these developments, the cargo import service remains stalled, a situation that has persisted for over a year.

The Directorate General of Foreign Trade ( DGFT ), through Trade Notice No. 19/2024-25 dated 4th October 2024, has issued a clarification regarding the requirement of a Registration-Cum-Membership Certificate ( RCMC ) for post-export remission-based schemes under the Foreign Trade Policy ( FTP ) 2023.

The Bilateral Investment Treaty (BIT) signed on 13th February, 2024 at Abu Dhabi, UAE between the Government of the Republic of India and the Government of the United Arab Emirates (UAE), entered into force with effect from 31st August, 2024.  The enforcement of this new BIT with UAE gives continuity of investment protection to investors of both the countries, as the earlier Bilateral Investment Promotion and Protection Agreement (BIPPA) between India and UAE signed in December 2013 expired on 12th September, 2024.

The state government has taken a series of farmer-centric initiatives, including delivering six lakh premium saplings and building the world’s first geothermal storage facility, to transform the horticulture sector.

Civil Supplies Minister N. Uttam Kumar Reddy held a video conference with the Minister of Food and Agriculture, Philippines to discuss the possibilities of paddy export to Philippines to the tune of 3 lakh metric tonnes.

South African importers have welcomed India's decision to ease restrictions on rice exports. Last month, the Indian government withdrew a blanket ban on overseas shipments of non-basmati white rice. It imposed a floor price of USD 490 per tonne and exempted the commodity from export duty.