Federation of Indian Export Organisations proposed that the government extend the Interest Equalisation Scheme (IES) for five years to compensate exporters for a portion of the interest on loans
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The Ministry of Consumer Affairs, Food & Public Distribution announced that the stock limit for traders and wholesalers is 3000 metric tons (MT), while for retailers, the limit is 10 MT per retail outlet.
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This initiative is part of broader efforts by the Ministry of Consumer Affairs to modernize and streamline foreign trade procedures
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In terms of major items of export, Frozen shrimp lead in quantity and value, while the USA and China became the major importers of India's seafood.
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The recently released export data revealed that sectors such as electronic goods, drugs and pharmaceuticals, organic and inorganic chemicals, engineering goods, petroleum products, plastics & linoleum, cotton yarn/fabs made-ups ( textiles manufactured), handloom products
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Despite the overall downturn, specific segments such as Gold and Silver segments displayed growth
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India’s total exports during April to May 2024 is estimated at USD 133.61 billion
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Overall trade deficit significantly improved from USD 121.6 billion in 2022-23 to USD 75.6 billion in 2023-24
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While CHASE India report outlines the ministry's focus on modernising the armed forces and central armed police forces with advanced weapons, equipment and technology
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The government though did not give any reasons behind such move.
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