Sponsored
    Follow Us:
Sponsored

Introduction: The recent notification (No. 07/2023) from the Directorate General of Foreign Trade (DGFT) signals a significant development in India’s onion export landscape. Under HS code 0703 10 19, the export of onions to Sri Lanka and the UAE has been permitted, presenting new avenues for trade and economic growth.

Export to Sri Lanka: With an allocation of 10,000 metric tons (MT) of onions, India aims to meet the demand in the Sri Lankan market. This move not only strengthens bilateral trade relations but also showcases India’s capability to cater to international markets.

Additional Export to UAE: The permission to export an additional 10,000 MT of onions to the UAE, on top of the existing quota, reflects growing demand in the region. This expansion underscores the competitiveness of Indian onion exporters and their ability to fulfill global requirements.

Market Impact: The export boost is expected to have a positive impact on India’s onion industry. It opens up new opportunities for exporters, potentially leading to increased revenue and market penetration. Furthermore, it contributes to the overall growth of the agricultural export sector.

Trade Relations: India’s decision to export onions to Sri Lanka and the UAE reinforces diplomatic and trade ties with these nations. It paves the way for deeper cooperation and collaboration in the agricultural sector, laying the foundation for long-term partnerships.

*****

MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
(Directorate General of Foreign Trade)

Notification No. 07/2023-DGFT | Dated: 15th April, 2024

Subject: Export of Onions (under HS code 0703 10 19) to Sri Lanka and UAE.

S.O. 1716(E).In In exercise of powers conferred by Section 3 read with section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy, 2023 and in accordance with the provision contained in Para 2 of Notification No. 81/2023 dt. 22.03.2024, the Central Government permits the export of the following quantity of onion (under HS code 0703 10 19) to Sri Lanka and UAE through National Cooperative Exports Limited (NCEL):-

Export of Onions (under HS code 0703 10 19) to Sri Lanka and UAE

Sl. No. Country Name Quantity
1. Sri Lanka 10,000 MT
2. UAE Additional 10,000 MT quantity of Onions over and above 24,400 MT quantity already notified vide DGFT Notification No. 65/2023 dt. 01.03.2024 and 02/2023 dt.03.04.2024 .

2. Effect of the Notification:

Export of 10,000 MT of onions (under HS code 0703 10 19) to Sri Lanka through National Cooperative Exports Limited (NCEL) has been allowed. Further, export of additional 10,000 MT quantity of Onions(under HS code 0703 10 19) through NCEL to UAE, over and above the quota of 24,400 MT already notified vide DGFT Notification No. 65/2023 dt. 01.03.2024 and 02/2023 dt.03.04.2024, has been allowed.

[F.No.01/91/191/060/AM-24/EC (e-38291)]

SANTOSH KUMAR SARANGI, Director General of Foreign Trade & Ex- officio Addl. Secy.

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Search Post by Date
July 2024
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031