Sponsored
    Follow Us:
Sponsored

Introduction: The Directorate General of Foreign Trade (DGFT) has issued Notification No. 48/2023, dated December 7, 2023, allowing the export of Non-Basmati White Rice under HS Code 10063090. This export is specifically permitted to Comoros, Madagascar, Equatorial Guinea, Egypt, and Kenya through the National Cooperative Exports Limited (NCEL).

Detailed Analysis: The notification, exercised under the powers conferred by the Foreign Trade (Development & Regulation) Act, 1992, and the Foreign Trade Policy, 2023, outlines the quantities permitted for export to each country:

1. Comoros: 20,000 MT

2. Madagascar: 50,000 MT

3. Equatorial Guinea: 10,000 MT

4. Egypt: 60,000 MT

5. Kenya: 1,00,000 MT

This initiative aims to streamline and regulate the export of Non-Basmati White Rice, fostering trade relationships with these nations. The use of NCEL as the designated export entity ensures a systematic and organized process for this trade.

Conclusion: In conclusion, DGFT’s Notification 48/2023 serves as a pivotal step in facilitating the export of Non-Basmati White Rice to key nations. Stakeholders and businesses involved in rice exports are encouraged to leverage this opportunity. The quantities specified for each country indicate a strategic approach, aligning with the broader trade policies of the government. For further details and clarifications, stakeholders can reach out to DGFT via the provided contact information.

*****

Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan, New Delhi

Notification No. 48/2023-DGFT | Dated: 7th December, 2023

Subject: Export of Non-basmati White Rice (under HS Code 10063090) to Comoros, Madagascar, Equatorial Guinea, Egypt and Kenya through National Cooperative Exports Limited (NCEL).

S.O. 5183(E).—I 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. 20/2023 dated 20.07.2023, export of following quantity of Non-basmati White Rice (under HS Code 10063090) to Comoros, Madagascar, Equatorial Guinea, Egypt and Kenya is permitted through National Cooperative Exports Limited (NCEL) : –

S. No. Country Name Quantity
1 Comoros 20,000 MT
2 Madagascar 50,000 MT
3 Equatorial Guinea 10,000 MT
4 Egypt 60,000 MT
5 Kenya 1,00,000 MT

Effect of the Notification:

Export of Non-Basmati White Rice (under ITC-HS Code 10063090) to Comoros, Madagascar, Equatorial Guinea, Egypt and Kenya through National Cooperative Exports Limited (NCEL) is notified.

(Santosh Kumar Sarangi)
Director General of Foreign Trade
Ex-Officio Additional Secretary, Government of India
E-mail: [email protected]

(Issued from F. No. 01/91/191/049/AM-24/EC /E-37225)

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
Ads Free tax News and Updates
Sponsored
Search Post by Date
December 2024
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031