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Jun 02, 2025 News Image Govt slashes import tax on edible oil by 10%.
The Centre, in a bid to bring down food prices, on Friday lowered the basic import tax on crude edible oils by 10 percentage points, the government said in a notification. The duty change would be effective from May 31, the notification said.
 Source:  economictimes.indiatimes.com
Jun 02, 2025 News Image Mangoes sweeten Air India’s cargo performance.
Air India is reaping the benefits of high global demand for mangoes, which witnessed a 15 per cent increase in exports this season. Buoyed by increased cargo capacity, in April the airline shipped 1,000 tonnes of the king of fruit and volume in May is higher than the previous month, an airline spokesperson said. The UK, the US, UAE, Canada, France, Germany and the Netherlands are the main export destinations. The top varieties exported include Alphonso, Safeda (Banganpalli) and Dussehri.
 Source:  thehindubusinessline.com
Jun 02, 2025 News Image Union Commerce and Industry Minister Shri Piyush Goyal commences three-day official visit to France;to visit Italy next.
Union Minister of Commerce and Industry, Shri Piyush Goyal, commenced his three-day official visit to France on 1st June 2025, as part of his ongoing visit to France and Italy from 1–5 June 2025. The visit reflects India’s continued commitment to deepening strategic and economic ties with key European partners and advancing a shared vision for resilient and inclusive global growth.
 Source:  pib.gov.in
Jun 02, 2025 News Image WTO meet on June 3 in Paris: India to raise issues on agri, fisheries, investment facilitation.
India will flag its concerns on issues pertaining to agriculture, fisheries agreement, China-led proposal on investment facilitation and dysfunctional appellate body of the WTO during an informal meeting of about 25 trade ministers in Paris on June 3, an official said. The mini-ministerial meeting will be held on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting in Paris.
 Source:  economictimes.indiatimes.com
Jun 02, 2025 News Image 'Not in it to enrich ourselves, we are in it to enrich both peoples': NZ FM on FTA negotiations.
Describing the negotiations on a comprehensive free trade agreement a 'breakthrough' in India-New Zealand economic relationship, Foreign Minister Winston Peters on Friday said 'we are not in it to enrich ourselves, we are in it to enrich both peoples'. In an interactive session after delivering an address at an event here, Peters also elaborated on the trade talks, and said he 'understands the concern' of the dairy industry in India.
 Source:  economictimes.indiatimes.com
Jun 02, 2025 News Image India, EU can wrap up FTA talks before year-end: Piyush Goyal.
India and the European Union can conclude talks for a comprehensive free trade agreement (FTA) before the end of this year, commerce and industry minister Piyush Goyal said Sunday. However, he said, there are certain sensitive issues on both sides that have to be resolved.
 Source:  economictimes.indiatimes.com
Jun 02, 2025 News Image India and Chile conclude first round of FTA talks.
India and Chile have concluded the first round of negotiations for the proposed comprehensive bilateral free trade agreement, the Department of Commerce said on Friday. The two countries had implemented a preferential trade agreement (PTA) in 2006 and are now negotiating to widen its scope for a comprehensive economic partnership agreement (CEPA).
 Source:  economictimes.indiatimes.com
Jun 02, 2025 News Image New Zealand hails ‘breakthrough’ in trade talks with India, but no timeline for deal.
New Zealand’s deputy prime minister said on Friday that talks over a free trade agreement between his country and India were ongoing, but he didn’t provide a timeline for when the two nations could eventually sign a deal. Winston Peters, who is on a two-day visit to India, said that the negotiations were 'going with real meaning now,' calling them 'a breakthrough in our economic relationship.'
 Source:  apnews.com
Jun 02, 2025 News Image Pragmatic tariff adjustments with US can secure India’s farm exports: NITI paper.
India should grant more market access to American products that do not hurt Indian farmers—including apples, almonds and pistachios—for a mutually beneficial bilateral trading arrangement, according to a working paper by NITI Aayog. In turn, India could benefit from greater long-term market access for its shrimp, fish, rice, tea, coffee and rubber, the paper said as the two countries tried to wrap up a bilateral trade agreement.
 Source:  livemint.com
Jun 02, 2025 News Image IRRI scientists identify rice varieties with anti-cancer properties.
Here’s a breakthrough that rice lovers would want to hear. Scientists at the Philippines-based International Rice Research Institute (IRRI) have identified a few rice varieties with anti-oxidant and anti-cancer properties. The research outcome has been published in the scientific journal Food Hydrocolloids and Health. This could be a significant development, particularly in Asia, where colorectal cancer incidence is increasing in countries such as India and China.
 Source:  thehindubusinessline.com