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KALANAMAK RICE EXPORTS GET BOOST AS GOVT WAIVES DUTY ON 1,000 TONNES
The Business Guardian
|April 04, 2024
The removal of the hefty 20% duty on overseas exports marks a significant shift in the government’s trade policy regarding Kalanamak rice
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In a significant move aimed at promoting trade of agricultural commodities, the government has lifted the duty on exports of the Kalanamak variety of rice. This exemption applies to shipments of up to 1,000 tonnes and is effective immediately from Wednesday, according to a notification issued by the Finance Ministry.
Previously subject to a hefty 20% duty on overseas exports, the removal of this tariff barrier marks a notable shift in the government’s trade policy concerning Kalanamak rice.
The Directorate General of Foreign Trade (DGFT) paved the way for this initiative on Tuesday by authorizing exports of up to 1,000 tonnes of Kalanamak rice through six specified customs stations.
Kalanamak rice, a type of non-basmati rice renowned for its distinct aroma and taste, was previously prohibited for export. However, with this recent decision, it joins the ranks of exportable agricultural commodities, offering new avenues for Indian rice producers to tap into international markets.
This story is from the April 04, 2024 edition of The Business Guardian.
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