March 2, 2020
New Delhi: The Centre on Monday decided to lift the export ban on onions from March 15.
The Directorate General of Foreign Trade (DGFT) issued a notification in this regard.
“The effect of the notification will be that the export of all varieties of onions has been made ‘free’ without any condition of ‘Letter Of Credit’ and ‘Minimum Export Price’, with effect from 15th March, 2020,” the Commerce & Industry Ministry said in a statement.
The decision was taken by a Group of Ministers (GoM) headed by Home Minister Amit Shah on February 26.
Commerce & Industry Minister Piyush Goyal, in a tweet, said: “Permitting the export of onions from 15th March is a step in the direction of farmers’ welfare. This decision will help in increasing the income of farmers.”
In the last 6 months, prices of onions had sky-rocked due to shortage of supply as a result of widespread flooding in key producer states.
The Centre, in a bid to control the soaring prices, had imposed the ban in last September. IANS
WTO chief stresses need to learn from history on US push for import substitution
New York: Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has said there is a need to learn from history in regard to the US federal government's push for...
India’s GDP to grow at 6.2 pc despite tariff woes: IMF
New Delhi: Citing trade tensions and uncertainties oozing from ‘Trump-tariff’, International Monetary Fund (IMF) has slashed down growth forecast for global economy by 0.5 per cent for this year to...
FM Sitharaman invites global CEOs, investors to join India’s growth story
San Francisco: Union Finance Minister Nirmala Sitharaman met global CEOs, pension fund managers and other institutional investors here, and discussed the opportunity for collaboration in the domain of energy and...
India close to finalising comprehensive bilateral trade deal with US
Mumbai: India is close to finalising a comprehensive Bilateral Trade Agreement (BTA) with the US, which is expected to facilitate zero-duty imports under the production-linked incentive (PLI) schemes and enhance...
India to grow by 6.5 pc in 2025 amid global slump: UN report
New Delhi: India is expected to remain the fastest growing major economy with a 6.5 per cent growth rate in 2025 while global growth is seen as marking a shift...
Now withdraw cash on train: Panchavati Express becomes 1st in India to get ATM
Mumbai: In a first-of-its-kind move, the Mumbai-Manmad Panchavati Express has become the first train in India to have an ATM installed onboard. The ATM has been set up in an...
India scraps transshipment facility for Bangladesh’s export cargo
New Delhi: India has withdrawn the transshipment facility extended to Bangladesh for sending its export cargoes to other countries through Indian territory. A circular issued by the Central Board of...
India plans to seal trade deal with US by fall 2025: EAM Jaishankar
New Delhi: India is perhaps the only country which has reached an understanding with the United States to ink a bilateral trade agreement (BTA) by the fall of this year,...
Trump’s reciprocal tariffs take effect undeterred by negotiations
Washington: US President Donald Trump’s sweeping reciprocal tariffs go into effect Tuesday at midnight US Eastern time (9:30 am IST) unaffected by negotiations underway between the US and the affected...
RBI cuts inflation forecast to 4 per cent for 2025-26
Mumbai: The Reserve Bank’s Monetary Policy Committee has reduced its inflation forecast for 2025-26 to 4 per cent from 4.2 per cent earlier as the “outlook for food inflation has...
RBI lowers GDP growth forecast to 6.5 pc for 2025-26 as global uncertainties spike
Mumbai: The RBI’s monetary policy committee has reduced its projection for India’s GDP growth in 2025-26 by 20 basis points to 6.5 per cent from 6.7 per cent due to...
RBI cuts repo rate by 25 basis points, switches to accommodative stance to spur growth
Mumbai: RBI Governor Sanjay Malhotra on Wednesday announced a 25 basis cut in the policy rate from 6.25 per cent to 6 per cent and change in monetary policy stance...
