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2021-08-18

In a first, India to import 1.2 mn tonne GM soyameal after govt clears air

In a first, India is all set to import 1.2 mn tonne of genetically modified soyameal, used as livestock feed, after the environment ministry and DGFT cleared the air on the GM issue, an official said

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2021-08-18

India's July merchandise exports up 49.9% y/y

India's merchandise exports rose for the eighth straight month in July to $35.43 billion, up 49.85% from a year earlier, revised trade data released by the government showed on Friday.

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2021-08-18

Home textile exporters set to register robust performance during FY22

Home textile exporters set to register robust performance during FY22

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2021-08-19

Exporters want steel, pharmaceuticals sectors under RoDTEP scheme

The RoDTEP guidelines do not include sectors such as steel, organic & inorganic chemicals, and pharma under the scheme. According to commerce secretary BVR Subhramanyam, these sectors have been performing well, which is the reason why they have been excluded.

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2021-08-19

RoDTEP scheme : Govt announces Rs. 12,400 crore outlay for tax refund of 8,555 export products

The government is betting on the scheme, a long time in the coming to make India's exports more competitive in the global arena. The tax refund rates revealed by the Commerce Department show that exporters will be given tax refunds in the range of 0.5-4.3 percent.

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2021-08-19

International prices high, sugar industry hopes for good export season after over 4 years

India’s sugar industry is optimistic about a good run in the international markets in the upcoming 2021-22 season, as world prices are bullish.

Speaking to The Indian Express, Verma said the present price of 20 cents/pound for raw sugar translates into ex-mill realisation of Rs 3,100-3,150/quintal for raw sugar.

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2021-08-20

Centre asks export community to target $2 trillion exports by 2030.

The Centre on Thursday asked the export community to target $2 trillion exports by the year 2030.

These comprise $1 trillion merchandise exports and $1 trillion services exports, Union Commerce Minister Piyush Goyal said in Mumbai. He exhorted all export promotion councils to take immediate and effective steps to rise to the challenge of achieving the merchandise export target of $400 billion for 2021-22.

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2021-08-20

Govt approves Rs 11, 040-crore scheme to boost palm oil production

The Centre has approved the National Mission on Edible Oil-Oil Palm (NMEO-OP) with a financial outlay of Rs 11,040 crore to increase domestic production of palm oil and reduce dependence on foreign imports. At present, 98 percent of crude palm oil is imported from South East Asian countries.

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2021-08-20

Cabinet approves Rs 11,040-crore plan to increase edible oils output

The Union Cabinet on Wednesday approved the National Mission on Edible Oils - Oil Palm (NMEO-OP) with a financial outlay of Rs 11,040 crore to increase the production of edible oils in the country.

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2021-09-07

Economy's major parameters showing an uptick, import-export rise

India’s exports for the month of August 2021 stand at $33.14 billion, which is a 45.17% increase on a year-on-year basis. Last year, exports for the month of August stood at $22.83 billion.

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2021-09-07

Ambitious Plans for Textile Sector as Modi Govt aims to raise exports by USD 100 mn – check details here

The government is planning an ambitious plan for the textile sector, as in a recent meeting, the Union Ministry for Commerce & Industry and textiles, Piyush Goyal said that the government wanted to increase the textile exports by USD 100 million. Zee Business Research Analyst Mansi Dave has this detailed report.

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2021-09-07

August Gold Imports In India Were Highest In Last 5 Months

India has bought a record amount of gold in August 2021 according to a Reuters report. As the gold rates are increasing in the international markets, India is also enhancing its gold imports. However, in August during the second week, gold prices went record downs due to improved US jobs data of July, making it a profitable buy for India. In August, India's gold imports were at the highest position in the last 5 months. India has imported 121 tonnes of gold in August 2021, compared to 63 tonnes in the same month last year. This translates to August imports of $6.7 billion from $3.7 billion a year ago. Before the upcoming festive season and wedding season, this accumulated gold stock will help to meet the country's gold demand.

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2021-09-08

Cabinet clears PLI scheme for textile sector – Siyaram Silk, Nitin Spinners, Deepak Spinners - STOCKS IN ACTION on Wednesday

The Narendra Modi Government on Wednesday approved the Production Linked Incentive (PLI) scheme. The decision was taken in a meeting of the Cabinet today. The stocks in the textile sectors have been buzzing with anticipation since the markets opened today.

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2021-09-10

Govt likely to reintroduce the TMA scheme for farm exporters

The government is likely to re-introduce the transport and marketing assistance (TMA) scheme for the next two-three years, to support farm exporters at a time when exporters are grappling with challenges such as high freight costs and container shortage.

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2021-09-10

MSP hikes need to be supplemented by higher yields, say experts

The Minimum Support Price (MSP) of rabi crops for the 2022-23 marketing season, which will start from April, was announced on Wednesday. The maximum rise was reserved for oilseeds and pulses, while the least increase was for cereals, in this case wheat.

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2021-09-10

India signs deals to export 1.2 million tonnes of sugar in new season Read more at:

Indian mills have signed contracts to export 1.2 million tonnes of sugar in the 2021/2022 marketing year that starts from Oct. 1 as a rally in global prices has made exports feasible without government subsidies, two leading trade bodies said on Thursday.

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2021-09-13

Tractor exports hit historic high in August, but domestic volumes decline

Price hikes by tractor manufacturers seem to have impacted the demand. The Indian tractor industry witnessed a mixed trend in August 2021. While exports hit a historic high and the total production stayed in over one lakh for the second consecutive month, domestic sales declined during the month.

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