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India allows export of onions to Bangladesh

On September 18, 2020, the Directorate General of Foreign Trade lifted the ban on export of onions to other countries including Bangladesh. The decision was made after a long meeting with the Ministry of External Affairs and Commerce. Highlights The lift of Ban came after Bangladesh High Commission complained to India about price hike of onions ..

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GoI lifts ban on Paracetamol API exports

On May 28, 2020, the Government of India lifted the ban on export of paracetamol Active Pharmaceutical Ingredients. Highlights The removal of ban will now allow the export of pharmaceutical ingredients used for COVID-19 treatment. In order to achieve this, the GoI has amended Section 3 of Foreign Trade (Development and Regulation) act, 1992. The ..

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GoI: Rebate of State and Central Taxes Scheme in the form of Scrips

On May 1, 2020, the Government of India announced that the Rebate of State and Central Scheme arrears are to be provided in the form of scrips. It is to be provided by the Department of Revenue Communication. Highlights The ROSL scheme was discontinued in March 2019. The scheme was replaced with Rebate of State ..

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MEIS scheme to be replaced with RoDTEP Scheme

On March 13, 2020, the Union Cabinet approved to withdraw the MEIS (Merchandise Export from India) Scheme in phases. It is later to be replaced with RoDTEP (Remission of Duties or Taxes on Export Product) scheme. Highlights The MEIS is being replaced as the exports are to fall further due to Corona Virus outbreak. The ..

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GoI allows Export of Onions

In September 2019, GoI had banned the export of onions in order to bring down its prices in the country. The prices of the key cooking ingredient had soared due to supply disruptions and floods in the major onion producing states Haryana and Maharashtra. Highlights Onion prices peaked in December 2019 as rains hit the ..

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