Govt allows exports of specified quantity of white onion via three ports - Exportify Pulse Edition - April 30, 2024
Govt allows exports of specified quantity of white onion via three ports
Easing export ban, the government on Thursday permitted overseas shipments of a specified quantity of white onion from three ports. The Directorate General of Foreign Trade (DGFT) in a notification said that the exporter shall have to get the certificate from the Horticulture Commissioner, Government of Gujarat, certifying the item and quantity of white onion to be exported.
"Exports of up to an aggregate quantity not exceeding 2,000 MT (tonnes) of white onion has been allowed through the specified ports, taken together, with immediate effect," it said.
The exports are allowed from Mundra Port, Pipavav Port and Nhava Sheva/JNPT Port.
Exports of onion -- a politically sensitive commodity -- are banned in general. However, the government allows specified quantities of shipments to friendly nations on their requests.
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China's share in India's industrial goods imports jump to 30% from 21% in last 15 years: GTRI
New Delhi, With increasing India's dependence on Chinese industrial goods like telecom, machinery and electronics, Beijing's share in New Delhi's imports of such goods rose to 30 per cent from 21 per cent in the last 15 years, a report said. According to the report by the economic think tank Global Trade Research Initiative (GTRI), the growing trade deficit with China is a cause of concern, and the strategic implications of this dependency are profound, affecting not only economic but also national security dimensions.
From 2019 to 2024, India's exports to China have stagnated at around USD 16 billion annually, while imports from China have surged from USD 70.3 billion in 2018-19 to over USD 101 billion in 2023-24, resulting in a cumulative trade deficit exceeding USD 387 billion over five years.
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Govt allows onion export to Bangladesh, UAE, Sri Lanka & 3 more countries amidst domestic supply worries
The central government has allowed the export of 99,150 MT onion to six countries, Bangladesh, UAE, Bhutan, Bahrain, Mauritius and Sri Lanka.
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According to a press release, the decision comes against the backdrop of lower estimated Kharif and Rabi crops in 2023-24 compared to the previous year, coupled with increased demand in the international market.
To facilitate the export, the National Cooperative Exports Limited (NCEL) has been designated as the agency responsible for exporting onions to these countries.
NCEL will be sourcing the onions from domestic producers through an e-platform at competitive prices. The onions will be supplied to the nominated agency or agencies of the destination countries at negotiated rates, with 100 per cent advance payment.
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India's services exports grow 11.4% in 2023: UNCTAD report
India's services exports jumped 11.4 per cent to USD 345 billion in 2023 despite global economic uncertainties, while China's shipments from the sector contracted by 10.1 per cent to USD 381 billion, according to a UNCTAD report. Sectors that contribute to India's services export growth include travel, transport, medical and hospitality.
With an 8.9 per cent annual rise in current dollar value terms, the world services exports surpassed USD 7.9 trillion in 2023, a quarterly bulletin of UNCTAD said.
The leading exporters among developing economies include India, China, Singapore, Turkiye, Thailand, Mexico, and Saudi Arabia, it added.
India's services imports, however, dipped marginally by 0.4 per cent to USD 248 billion last year.
"The main driver of the YoY (year-on-year) rise of services exports in Q4 2023 was the ample growth of international travel receipts. In the post-COVID-19 recovery, travel receipts increased by 70 per cent in Asia (YoY)," the report said.
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