In a significant development, the Ministry of Commerce & Industry, Department of Commerce, Directorate General of Foreign Trade, has issued Notification No. 32/2023 dated 25th September, 2023, granting approval for the export of non-Basmati white rice to the United Arab Emirates (UAE) through the National Cooperative Exports Limited (NCEL). This announcement marks a milestone in trade relations between India and the UAE, as it opens up opportunities for the export of 75,000 metric tons (MT) of non-Basmati white rice.
Detailed Analysis:
Regulatory Authority: The approval for this export is granted under the powers conferred by Section 3 read with Section 5 of the Foreign Trade (Development & Regulation) Act, 1992, as amended. It is in accordance with the Foreign Trade Policy, 2023, and aligns with the provisions of Para 2 (iv) of Notification No. 20 dated 20.07.2023.
Quantity and Product: India is permitted to export a substantial quantity of 75,000 MT of non-Basmati white rice under HS code 1006 30 90 to the UAE. This rice variety is a significant commodity in India’s agricultural exports.
Export Channel: The export will be facilitated through the National Cooperative Exports Limited (NCEL), indicating the cooperative nature of this trade initiative.
Impact on Trade: This approval signifies an expansion of India’s trade horizons, especially in the context of food exports. The UAE is a vital trading partner, and this move enhances economic cooperation between the two nations.
Conclusion:
The approval for exporting 75,000 MT of non-Basmati white rice to the UAE is a testament to India’s commitment to fostering trade relationships and boosting exports. It opens doors for Indian rice exporters to access the UAE market and contribute to the growth of agricultural trade. This development holds significance not only for the exporters but also for the broader economic ties between India and the UAE. It reflects the government’s efforts to facilitate international trade and promote economic growth.
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Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan, New Delhi
Notification No. 32/2023 Dated: 25th September, 2023
Subject: Export of Non-Basmati White Rice (under HS code 1006 30 90) to UAE through National Cooperative Exports Limited (NCEL).
S.O. 4224(E).—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 (iv) of Notification No. 20 dated 20.07.2023, export of 75,000 MT of non-Basmati white rice (under HS code 1006 30 90) to UAE is permitted through National Cooperative Exports Limited (NCEL).
2. Effect of the Notification:
Export of 75,000 MT of Non-Basmati White Rice (under HS code 1006 30 90) to UAE is permitted through National Cooperative Exports Limited (NCEL).
(Santosh Kumar Sarangi)
Director General of Foreign Trade
Ex-Officio Additional Secretary, Government of India
E-mail: [email protected]
