Export restrictions on non-Basmati rice from India to countries like Bhutan, Mauritius and Singapore have been lifted. 79,000 tonnes of non-basmati rice will be exported to Bhutan and 50,000 tonnes to Singapore. It has been decided to export 14,000 tonnes to Mauritius. This has been clarified by the Ministry of Commerce. India is one of the leading exporters of rice in the world. Last month, India said it would allow exports of vegetables if specifically requested to meet the food security needs of other countries.
India’s rice exports fell due to export ban on white rice. Exports fell by 6.58 percent in January. Exports reached $32.91 billion compared to $35.23 billion in the same month last year. The merchandise exports in December 2022 are 3448 crore dollars.
Imports in January fell by 3.63 percent from $5257 crore in January 2022. Trade deficit in January was $1775 crore from $2376 crore in December.
India’s rice exports fell due to export ban on white rice. Exports fell by 6.58 percent in January. Exports reached $32.91 billion compared to $35.23 billion in the same month last year. The merchandise exports in December 2022 are 3448 crore dollars.
Imports in January fell by 3.63 percent from $5257 crore in January 2022. Trade deficit in January was $1775 crore from $2376 crore in December.
During the April-January period of this financial year, the country’s merchandise exports rose 8.51 percent to $369 billion. Imports during this period increased by 21.89 percent to 602.2 billion dollars. The decrease in trade deficit and increase in exports of various products from the country is good for the economy. . The RBI expects India to receive more foreign investment and reduce its current account deficit. Lower imports also contributed significantly to the decline in the merchandise trade deficit.
