Govt permits exports of up to 25,000 tn of pharma grade sugar per fiscal under restricted category
The permission will be given only to
bona fide pharmaceutical exporters
.
"Export of
pharma grade sugar
, up to a total of 25,000 MTs per financial year, shall be permitted to bona fide pharma exporters against a restricted export authorisation," according to a notification issued by the
Directorate General of Foreign Trade
(
DGFT
).
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Seniors Born 1939-1969 Receive 9 Benefits This Month If They Ask
Marthas Money
Learn More
Undo
Pharma-grade sugar is a high-quality product manufactured by following specific standards.
In a separate trade notice, the DGFT said that it has added 'Source from India' feature on
Trade Connect ePlatform
.
Live Events
The platform acts as a comprehensive hub of information and services on international trade with all related stakeholders including
Indian Missions Abroad
, Export Promotion Councils, EXIM Bank, Dept of Commerce, DGFT.
This feature would be a one-stop reference point for international buyers to discover accomplished Indian Exporters to source from.
"The feature allows exporters to create their own micropages where they can provide their product details as well as the credentials of their entity," it added.
Indian Missions Abroad have also been duly sensitised to use Source from India as a reference point for addressing the sourcing needs of foreign buyers approaching the missions for requests to help find Indian suppliers for various products.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
28 minutes ago
- Indian Express
EU trade talks: India to offer regulatory certainty in manufacturing to woo FDI
In the first such offer made during trade deal negotiations, India is working on a 'new chapter' aimed at extending long-term regulatory certainty in the domestic manufacturing sector to attract investment from the European Union (EU), The Indian Express has learnt. This comes in the backdrop of shared concerns between India and the EU over Chinese overcapacity, which is viewed as a threat to domestic manufacturing of critical products such as pharmaceuticals, electronics and defence requirements, among others. 'In the EU deal, one of the new chapters that has come in is about investment in non-services, which is a new element where they (EU) are looking at certainty on the commitments for FDI in non-services sectors — basically the manufacturing sector,' a senior government official said. 'There are two parts to it. One is deciding on sectors where India will allow 100 per cent FDI. Second, there are a number of conditions on things such as 'local employment', 'local value addition', 'use of local raw materials' and conditions around whether there will be local partners and joint ventures or not,' the official said. Another person aware of the development told The Indian Express that the government had undertaken extensive stakeholder consultations to work on the investment chapter that was offered to the EU during the last round of negotiations. This comes as India has begun seeking to attract investments from Western countries in exchange for lowering tariffs on key sectors. For instance, India has allowed 100 per cent FDI in telecom for the UK under the trade deal. In the insurance sector, the FDI ceiling has been kept at 74 per cent, providing investment certainty for UK insurers. A similar strategy was followed in the European Free Trade Association (EFTA) deal. India and the four-nation EFTA — an intergovernmental grouping comprising Iceland, Liechtenstein, Norway and Switzerland — signed a trade pact in March 2024, under which EFTA countries have committed to investing $100 billion in India over a 15-year period. However, officials indicated that the investment chapter in the EU deal would be far more extensive and legally robust. Shared challenge of China India and the EU have both been facing several challenges, particularly in the renewable energy sector. Another government official told The Indian Express that the Indian industry has been encountering pricing challenges, especially while trying to scale up the solar energy sector, and that India will have to work with 'Western countries' to achieve competitiveness and tackle the China challenge. According to a parliamentary report released last year, the EU is concerned about China's dominance in critical technologies, as China holds a leading global manufacturing position in several areas, exposing the EU to potential risks. The EU has said these sectors include raw or processed materials for robotics, as well as clean technologies including solar PV wafers, EV batteries and wind turbine blades. 'Despite a general decline in Chinese FDI into the EU since 2016 and a shift towards greenfield investments, China still holds stakes (full or partial ownership) in critical EU activities and infrastructure. These include automotive, fintech, advanced manufacturing, ports and shipyards, and electronics,' the parliamentary report said. India–EU negotiations making progress An EU trade deal status report earlier this month stated that India and the EU had made substantial progress on the text dealing with 'services and investment', marking a significant step forward towards concluding the Free Trade Agreement (FTA) that both sides aim to sign by the end of the year. The EU report also noted that negotiators had made substantial progress on the investment text, and that they had also made very good progress on rules for state-to-state mediation. Progress on dispute settlement is significant, as it suggests a breakthrough on long-standing EU concerns regarding investment protection in India. A European Parliament report had earlier expressed regret that 'uncertainties remain for EU investors, notably as a result of India's decision to unilaterally terminate all its bilateral investment treaties (BITs) in 2016'. However, India has since begun addressing the issue by negotiating new investment treaties under a revised framework. New chapter With Brussels looking at certainty on the commitments for FDI in India's manufacturing sector, investment in non-services opens a new chapter in the deal with the EU. The government had undertaken extensive stakeholder consultations on the investment chapter. Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets. ... Read More
Time of India
42 minutes ago
- Time of India
Maharashtra's single-feed distilleries get the nod to use grains, mainly maize, to produce ethanol
Kolhapur: State govt has approved existing single-feed distilleries, which primarily rely on molasses and sugar cane juice, to operate as dual-feed. This approval allows these distilleries to use grains, such as maize and broken rice, as an alternative feed for ethanol production. While a few standalone distilleries in Maharashtra already utilise grains as feed, the majority are attached to sugar mills, depending on molasses and sugar cane juice to produce ethanol. These distilleries could operate only three to four months annually due to raw material shortages. With the inclusion of grains, they can now function nearly all year round, benefiting grain producers, especially maize farmers in Maharashtra. In states like Uttar Pradesh, Bihar, Punjab, and Haryana, distilleries have been permitted to use maize and rice for ethanol production. Experts noted that Maharashtra's distilleries have significant potential to produce ethanol from maize, a crop predominantly grown by non-irrigated farmers. Nearly 54 lakh tonnes of maize, primarily a kharif crop, are produced in Maharashtra. State govt issued a notification on July 23 to allow single-feed distilleries to adopt dual feed. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Prestige - New Launch - Affordable Luxury Apartments Prestige Pallavaram Gardens Learn More Undo "Now, the mills that are financially capable of setting up silos to store the grains, developing facilities to grind the grains and fermenting, can easily start using the distilleries to convert grains into ethanol. Around 70% of the sugar mills have distilleries attached. Most of them have increased their capacity, but they are short of raw material. Now, with maize, which is a prominent crop in Maharashtra, they can run the distilleries for most parts of the year and thereby overcome the financial hurdles they are facing," said Vijay Autade, a sugar cane industry expert. For the past three years, sugar mill associations sought dual feed status for distilleries from state govt and have now succeeded. "Centre had allowed ethanol production from grains since 2018; however, the distilleries in Maharashtra had no such permission and relied only on molasses and sugar cane juice, unlike the north Indian states, where the distilleries started using grains and benefited a lot. We were also trying to get permission. Accordingly, state govt, through a notification, has given permission. We expect that the mills can run their distilleries for 12 months. The farmers producing maize will get a good price. Also, we can achieve ethanol blending to 27% from the current 20%. The oil import dependency will thus be reduced," said B B Thombare, the president of the West India Sugar Mills Association. Dual-feed distilleries require specific equipment and process mechanisms for handling, fermenting, and distilling both types of feedstock. Currently, in Maharashtra, molasses-based distilleries can produce 316 crore litres of ethanol in a yearly cycle, while grain-based distilleries can produce 50 crore litres.
Time of India
42 minutes ago
- Time of India
Court denies bail to teenager accused of Rs 64-cr GST fraud in Faridabad
Gurgaon: A Faridabad court has denied bail to a 19-year-old boy, who allegedly pulled off a Rs 64-crore fraud on central GST. Sanket Mittal (19) — who was arrested on May 6 — had used fake bills showing the sale of iPhones and registering bogus firms in the name of his grandmother and house help. On Saturday, he was refused bail by additional sessions judge Ajay Sharma, who said "as alleged, the applicant (Sanket) is the mastermind behind the entire fraud". The court, terming the "economic offence" as a separate class, pointed out a regular offence is generally directed towards a particular person or section of society, whereas an economic offence affects and harms society at large by impairing the economic stability and well-being of the nation. You Can Also Check: Gurgaon AQI | Weather in Gurgaon | Bank Holidays in Gurgaon | Public Holidays in Gurgaon "Looking into the gravity and seriousness of alleged offences and without commenting on the merits of the case, the applicant is not entitled to the grant of regular bail at this stage," the judge said. Sanket and co-accused Naveen Tayal (34) fraudulently sourced data regarding the sale of iPhones from e-commerce sites to claim input tax credits. Sanket also produced fake bills to show he transported phones worth Rs 5.9 crore in Haryana Roadways buses. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 12 reasons why Tata Communications should be your trusted networking partner. NetworkWorld | Tata Communications Undo The accused orchestrated a fictitious trade of iPhones through a dummy company to claim ITC. The company was registered on a forged electricity bill and iPhones worth crores were shown to be transported. Harpreet Singh, representing CGST, said the company of the accused traded in iPhones and availed ITC from various suppliers to the tune of Rs 60 crore, out of which around Rs 30.4 crore of ITC was availed between Dec 2023 and March 2024, using "goods-less invoices".
