Latest news with #ForeignTrade(Development&Regulation)Act
Time of India
6 days ago
- Business
- Time of India
India imposes port restriction on certain jute based goods imports from Bangladesh
The Government of India has imposed new restrictions on the import of certain jute-based goods from Bangladesh. The decision, issued through a government notification by the Ministry of Commerce & Industry, the Directorate General of Foreign Trade (DGFT) on August 11, 2025, amends the existing Import Policy under the ITC (HS), 2022 Schedule 1, and takes immediate effect. According to the notification, items including bleached and unbleached woven fabrics of jute or other textile bast fibres, twine, cordage, rope, cables made of jute, and sacks and bags of jute will no longer be allowed entry into India through any land port along the India-Bangladesh border. Instead, these imports will be permitted only through the Nhava Sheva Seaport in Maharashtra. Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program "Imports from Bangladesh shall not be allowed from any land port on the India-Bangladesh Border. However, it is allowed only through the Nhava Sheva Seaport," the notification reads. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like You might be interested Undo The DGFT notification stated that the restrictions are being enforced under the powers given by the Foreign Trade (Development & Regulation) Act, 1992, and in continuation of earlier measures announced in May and June 2025. While the order does not specify the reasons behind the latest move, such measures are often linked to quality control, trade balance concerns, or safeguarding domestic industries from competitive pricing pressures. The notification makes it clear that other terms and conditions from the previous order, Notification No. 21/2025-26 dated June 27, 2025, will remain unchanged. Live Events The order, signed by Ajay Bhadoo, Additional Secretary to the Government of India and Director General of Foreign Trade, is effective immediately, meaning any shipments of the affected goods will have to comply with the new port restriction without delay. The jute sector has historically been a sensitive area in Indo-Bangladesh trade relations, with both countries being major producers and exporters of jute products. Bangladesh competes with India in the textile sector and now with a 50 per cent US tariff on India, it will have a major advantage on textile exports to the U.S. The India-Bangladesh trade in 2023-24 stood at USD 12.9 billion. In 2024-25, India's exports to Bangladesh stood at USD 11.46 billion, against imports of USD 2 billion.
Mint
31-05-2025
- 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.
India.com
05-05-2025
- Business
- India.com
India-Pakistan War Tensions: India Halts All Trade With Pakistan, Including Life-Saving Drugs
LIVE Blog Pahalgam Terror Attack, India-Pakistan Tensions Live Updates: In a sweeping move following the deadly Pahalgam terror attack that claimed 26 lives, India has imposed a total ban on all imports and transit of goods from Pakistan, citing national security concerns. The Ministry of Commerce and Industry issued a gazette notification on Saturday, invoking the Foreign Trade (Development & Regulation) Act, 1992, and the current Foreign Trade Policy 2023 to enforce the prohibition. Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.
Time of India
04-05-2025
- Politics
- Time of India
'It is an economic war, political war is already on': BJP leader Prakash Reddy after India bans all imports from Pakistan
HYDERABAD: Bharatiya Janata Party (BJP) leader Prakash Reddy stated on Sunday that while the Indian government is implementing comprehensive measures to combat terrorism, military action remains the final recourse. He elaborated that the suspension of trade relations through the ban on exports and imports serves as a strategic measure to pressure the Pakistani administration into taking decisive steps against terrorism. — ANI (@ANI) Reddy said, "The government of India is taking all measures, war is the last option... Banning the exports and imports is also one such measure to compel the Pakistani government to take stern action against terrorism... It is an economic war ... Political war is already on ... I appeal to the people of Pakistan to go to any extent to throw out the present government that supports terrorism, and not elect any such person that supports terrorism directly or indirectly..." The senior BJP politician urged Pakistani citizens to refrain from voting for candidates who provide either direct or indirect backing to terrorist activities. The Indian government has recently implemented a comprehensive prohibition on all products that originate from or are exported via Pakistan, irrespective of their import classification. This directive, issued through the Commerce and Industry Ministry's notification, has brought bilateral commerce to a standstill. The Commerce and Industry's Gazette notification issued on Saturday reads, "In exercise of power conferred by Section 3 read with Section 5 of the Foreign Trade (Development & Regulation) Act, 1992, read with Paragraph 1.02 and 2.01 of the Foreign Trade Policy (FTP) 2023, as amended from time to time, the Central government hereby inserts a new Para 2.20A in the Foreign Trade Policy, 2023 as follows with immediet effect." "Para 2.20A: Prohibition on Import from Pakistan. Direct or indirect Import or transit of all goods originating in or exported from Pakistan, whether or not freely importable or otherwise permitted, shall be prohibited with immediate effect, until further orders. This restriction is imposed in the interest of national security and public policy. Any exception to this prohibition shall require prior approval of the Government of India," the Commerce and Industry Ministry's notification added. Following the tragic incident in Pahalgam that claimed 26 lives, this action takes place during escalating hostilities between India and Pakistan.
Time of India
03-05-2025
- Business
- Time of India
Pahalgam Terror Attack LIVE Updates: Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad
Pahalgam Terror Attack LIVE Updates: India has imposed an immediate and comprehensive ban on the direct or indirect import and transit of all goods originating from or exported by Pakistan, effectively freezing bilateral trade. The Ministry of Commerce and Industry announced the decision through a Gazette notification on Saturday, invoking provisions under the Foreign Trade (Development & Regulation) Act, 1992, and the Foreign Trade Policy 2023 to justify the move. The notification states that a new clause, Para 2.20A, has been inserted into the Foreign Trade Policy, declaring that "direct or indirect import or transit of all goods originating in or exported from Pakistan, whether or not freely importable, shall be prohibited with immediate effect, until further orders." The ministry cited national security and public policy concerns as the rationale for the prohibition, adding that any exceptions would require prior government approval. This sweeping measure comes in the wake of rising tensions between India and Pakistan following the deadly terror attack in Pahalgam, which claimed 26 lives, mostly tourists. In response to the attack, the Indian government has implemented a series of diplomatic steps, including closing the Integrated Check Post (ICP) at Attari, suspending the SAARC Visa Exemption Scheme for Pakistani nationals—giving them 40 hours to return—and reducing diplomatic staff in both countries' High Commissions. Additionally, India has suspended the Indus Waters Treaty, a landmark 1960 agreement governing water sharing between the two nations. Prime Minister Narendra Modi vowed that those responsible for the Pahalgam attack—and those who aided them—would face unimaginable consequences. Emphasizing national resolve, Modi declared that the time had come to dismantle terrorism's remaining strongholds and that the collective will of 1.4 billion Indians would crush the backbone of terror networks.
