The government has permitted export of 8,424 tonne raw sugar under its tariff-rate quota (TRQ) to the US, S, which enables shipments to enjoy relatively low tariff.
TRQ is a quota for a volume of exports that enter the US at relatively low tariffs. After the quota is reached, a higher tariff applies on additional imports.
The quantity of raw sugar (8,424 tonnes) to be exported to USA under TRQ up to September 30, 2017 has been notified, Directorate General of Foreign Trade (DGFT) said in a public notice.
India enjoys duty-free sugar exports to the US for up to 10,000 tonnes annually under preferential quota arrangement.
India, the world's second biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as well.
The country had exported 1.1 million tonnes of sugar in the 2014-15 marketing year (October-September).
Sugar production is estimated to decline to about 25 MT in 2015-16 marketing year, from 28.3 MT in the previous year.
Original Source: business-standard.com
India submitted its formal proposal for an agreement on trade facilitation in services at the World Trade Organisation (WTO) suggesting measures to smoothen flow of services be...
For the first time, Rajasthan government will roll out an exports policy with an objective to double the shipments from the state to Rs 72,000 crore by 2022 from the current Rs...
Triggered by a sharp increase in production led by grapes, India's exports of fresh fruits jumped by a staggering 40 per cent in the first nine months of the current financ...