Latest news with #DirectorateGeneralofForeignTrade
Mint
6 hours ago
- Business
- Mint
Govt extends duty-free import window for yellow peas till March 2026
The Centre on Saturday extended the duty-free import window for yellow peas until 31 March 2026, aiming to stabilise domestic pulse prices and ensure adequate supply. The extension, notified by the Directorate General of Foreign Trade (DGFT), permits importers to bring in yellow peas without the minimum import price (MIP) condition or port restrictions, provided the bill of lading is dated on or before the new deadline. The liberalised policy is expected to help manage price volatility in the pulses market, particularly as tur and other key pulses continue to face supply constraints. The earlier policy was valid until 31 May 2025. With this extension, the government maintains its calibrated approach to easing import restrictions on select pulses to bridge domestic demand-supply gaps. All imports under this provision will require registration under the online Import Monitoring System, which remains a mandatory compliance requirement. The decision has been taken under the Foreign Trade (Development & Regulation) Act, 1992, and has received the approval of the minister of commerce and industry. The move is likely to ease price pressures ahead of the festive season in major consuming states, according to traders familiar with the matter. It is also expected to benefit pulse processors and millers by ensuring continued access to overseas yellow pea supplies without regulatory hurdles. The government has previously issued a series of notifications to adjust the import policy for yellow peas, including those dated 8 December 2023, 23 February 2024, 5 April 2024, 8 May 2024, 13 September 2024, 24 December 2024, and most recently, 10 March 2025. The latest extension signals a continued intent to retain flexibility in agricultural imports in response to shifting domestic needs. Bimal Kothari, chairman of the India Pulses and Grains Association (IPGA), criticised the government's decision to extend the duty-free import period for yellow peas, saying it could have adverse effects on Indian farmers. 'Allowing imports for such a prolonged period will discourage farmers who cultivate chana from expanding their cultivation area,' Kothari said. He warned that this move could undermine the government's goal of making India self-reliant in pulses by reducing incentives for domestic production growth. The government has launched a mission for atmanirbharta (self-reliance) in pulses, with an outlay of ₹ 1,000 crore over the next six years. As of 31 May, the average retail price of chana dal stood at ₹ 86.26 per kg, compared to ₹ 86.12 per kg a year earlier.
New Indian Express
4 days ago
- Business
- New Indian Express
Tiruppur knitwear makers hopeful of better profits after ban on garment imports from Bangladesh
TIRUPPUR: Knitwear manufacturers of Tiruppur are gleeful as they believe that the ban imposed by the central government on the import of ready-made garments from Bangladesh through land ports will lead to the growth of domestic production in Tiruppur. Currently, the value of domestic production annually is about Rs 30,000 crore. MP Muthurathanam, president of Tiruppur Exporters and Manufacturers Association (TEAMA), said, 'On May 17, the Directorate General of Foreign Trade shut down all land ports with Bangladesh for import of apparel (ready-made garments) from Bangladesh. Import of ready-made garments is allowed only through two seaports. This is good news for our domestic manufacturers since Tiruppur's domestic production has not risen above Rs 30,000 crore since five years as ready-made garments are being imported from Bangladesh.' 'There is a tax rebate on ready-made garments imported from Bangladesh. Plus, the labour costs are lower there. Even if raw materials are imported from China to Bangladesh, there is no tax for the industrial sector. Due to this, they are able to sell ready-made garments at 20-25% less than our prices. As a result, many big domestic traders buy from Bangladeshi manufacturers, affecting our orders,' he added. Further, Muthurathanam said, 'We have expressed our concerns to the central government in this regard. This move will greatly reduce the import of ready-made garments, and will also restrict the entry of cheap raw materials from China into India. In 2024, India's imports of ready-made garments from Bangladesh were valued at USD 634 million.'
India.com
4 days ago
- Business
- India.com
List of things which may become expensive in India as Modi govt imposes ban on goods coming from Bangladesh
List of things which may become expensive in India as Modi govt imposes ban on goods coming from Bangladesh India has recently imposed port restrictions on the import of certain goods from Bangladesh, such as cheap readymade garments and processed food items. The Indian government has taken the decision weeks after controversial remarks made by the neighbouring country's interim chief advisor, Muhammad Yunus, regarding India's northeastern region during his visit to China. During his speech in China, Yunus termed India's northeastern states as a 'landlocked region with no access to the ocean.' This remark by the leader sparked diplomatic tensions between the two countries. Now, the port restriction move by the Indian government is likely to put more pressure on Dhaka's already weak economy. Items like garments and processed food can only be imported only from sea ports like Kolkata and Nhava Sheva. The Government Order? India's Directorate General of Foreign Trade has announced temporary import restrictions on specific goods from Bangladesh, including clothing and processed food, impacting select ports. These restrictions have come into force with immediate effect. Notably, India's took the decision in response to the restrictions imposed by Dhaka on some Indian products last month. Goods Imported To India From Bangladesh? India's northeastern states (Meghalaya, Assam, Tripura, Mizoram) and two West Bengal border points (Phulbari and Changrabandha) will restrict the import of various goods via land customs. These prohibited items include ready-made garments, plastics, wooden furniture, carbonated drinks, processed foods, fruit-flavored drinks, cotton, and cotton waste. These Things Are Also Banned Apart from the above-mentioned items, restrictions have been imposed on the import of – baked goods, snacks, chips and confectionery, plastic and PVC finished goods, and wooden furniture. Things To Become Expensive? Restrictions imposed on imports from Bangladesh especially readymade garments, processed food, and plastic products, could have a mixed impact on prices in India. Prices Expected To Rise Readymade Bangladeshi garments are known for their low prices. Now, banning their imports could reduce the supply of these goods, which could increase their prices in the short term.
Business Standard
4 days ago
- Business
- Business Standard
DGFT enhances Ease of Doing Business for Leather Exporters
The Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry, has issued a Notification yesterday, removing key procedural restrictions applicable to the export of value-added leather products. This step is expected to reduce compliance burden and improve ease of doing business for exporters. Port restrictions have been withdrawn, allowing export of Finished Leather, Wet Blue Leather, and EI Tanned Leather from any port or Inland Container Depot (ICD). Earlier, these exports were restricted to specific notified ports. The mandatory requirement for testing and certification by the Central Leather Research Institute (CLRI) for export of Finished Leather, Wet Blue Leather, Crust Leather, and EI Tanned Leather has also been dispensed with. These procedural requirements were originally instituted to monitor export of value-added leather products and distinguish them from raw hides and dutiable items. However, with the removal of export duties on such leather categories and the clear physical distinction between processed and raw leather, the existing checks were considered redundant. The decision follows consultations with stakeholders, including the Council for Leather Exports, Leather Exporters and Central Leather Research Institute (CLRI). It is expected to streamline export procedures, reduce transaction costs, and benefit MSME exporters in particular.
The Hindu
5 days ago
- Business
- The Hindu
Export boost: Government restores RoDTEP scheme, allows leather exports from all ports
The Ministry of Commerce and Industry has, over the last few days, taken steps to enhance the competitiveness, cost-effectiveness and reach of India's exports, including for leather items made in Tamil Nadu. On Monday (May 26, 2025) evening, the government announced that the Directorate General of Foreign Trade had removed port-related restrictions on the export of certain types of leather. Earlier, finished leather, wet blue leather, and East India tanned leather had to be exported from particular notified ports. Now, all such restrictions have been lifted, meaning these leather items can be exported from any port or inland container depot. East India tanned leather, produced using a special process involving vegetable dyes, has earned Tamil Nadu a Geographical Indication (GI) tag, giving the product an exclusive branding like Darjeeling Tea or Kanchipuram silk sarees. In addition, the government has also done away with the mandatory requirement for testing and certification by the Central Leather Research Institute (CLRI) for the export of these leather items. 'These procedural requirements were originally instituted to monitor export of value-added leather products and distinguish them from raw hides and dutiable items,' the Ministry of Commerce and Industry said in a release. 'However, with the removal of export duties on such leather categories and the clear physical distinction between processed and raw leather, the existing checks were considered redundant,' it added. Restoration of scheme for reimbursing exporters Another decision that could have a major impact on boosting India's export competitiveness is Tuesday's announcement of the restoration of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for exporters done by Advance Authorization (AA) holders, Export-Oriented Units (EOUs), and units in Special Economic Zones (SEZs). Initiated in 2021, the RoDTEP scheme reimburses exporters for any embedded duties, taxes, or levies that are not otherwise reimbursed under any other existing scheme. The aim was to make Indian exports more competitive. The scheme benefits were available till February 5 of this year, following which export bodies lobbied hard for an extension, which has now come to pass. The move was cheered by export bodies. SC Ralhan, the president of the Federation of Indian Export Organisations (FIEO) said that it would go a long way in 'improving the global competitiveness of Indian exporters' and that the extension of RoDTEP benefits to AA, EOU, and SEZ units 'reflects the government's recognition of their critical role in India's export ecosystem'. While the government has said the benefits would be restored from June 1, 2025, Mr. Ralhan requested the government to make them available from February 7, 2025, as this would ensure a seamless transition between when the benefits were revoked and when they were restored.
