Basmati Rice Export: Basmati rice is another agri-commodity which Iran imports from India. In FY24, India exported one million kg of basmati rice to Iran, out of its total exports of 4.9 million kg.
Basmati rice is another agri-commodity which Iran imports from India. In FY24, India exported one million kg of basmati rice to Iran, out of its total exports of 4.9 million kg.
India is reviewing its trade pact with Asean to address anomalies like the inverted duty structure disadvantaging local manufacturers. Measures such as production-linked incentive schemes, import tariffs, and import monitoring are in place to tackle the trade deficit.
India s merchandise exports have recorded healthy growth in European nations like Romania, Czech Republic, Montenegro, Finland, the Netherlands, Portugal, Luxemburg, Iceland, Ireland, and Austria.
Exporters Seek Exemption From 45-day Payment Rule: The new rule, Section 43B(h) of the Income Tax Act, introduced in the Finance Act 2023, is designed to make sure small businesses get paid on time. It allows companies to get tax breaks if they pay their small business suppliers within the time limits set by the MSMED (Micro, Small and Medium Enterprises Development) Act, 2006.