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HomeEconomyGovt permits export of 2 lakh tonne wheat to Nepal
Govt permits export of 2 lakh tonne wheat to Nepal
Economy

Govt permits export of 2 lakh tonne wheat to Nepal

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The government has permitted exports of two lakh tonne of wheat to Nepal, according to a notification issued on Saturday. The export is permitted through National Cooperative Exports Limited (NCEL), the Directorate General of Foreign Trade (DGFT) said in the notification.

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NCEL is a company set up with cooperative societies as its promoters.

Though export of wheat is banned to maintain domestic supply, outbound shipments are allowed on the basis of permission granted by the government to certain countries to meet their food security needs and on request.

In a separate notification, DGFT said inputs imported for synthetic knitted fabrics by advance authorisation holders, EOUs (export oriented units) and SEZs (special economic zones) shall be exempted from MIP (minimum import condition).

There is a USD 3.5 per kg MIP on synthetic knitted fabrics, to discourage inbound shipments of cheap fabrics.


“Import of synthetic knitted fabrics…is restricted. However, import is free if CIF (cost, insurance, freight) value is USD 3.5 and above per kilogram. Further, inputs imported by advance authorisation holders, EOUs and SEZs shall be exempted from MIP condition,” it said.

Content Source: economictimes.indiatimes.com

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