Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

India likely to extend wheat import tax beyond March: Sources.


Date: 22-03-2016
Subject: India likely to extend wheat import tax beyond March: Sources
India is likely to extend a wheat import tax beyond March to shield its domestic farmers from cheap imports particularly as wheat from the new-season harvest will become available by the end of this month, government sources said on Monday.

After consulting the food, farm and trade ministries, the finance ministry now looks likely to extend the duty until September, the sources, who requested anonymity because they are not authorised to talk to the media, said.

India, the world's biggest wheat producer after China, imposed an import tax of 10 percent in August last year, reinstating it after a gap of eight years following big wheat imports from overseas.

In October, the government raised the import tax, which expires on March 31, to 25 percent.Once the tax is extended, Prime Minister Narendra Modi's ministers will review the decision in June when they will have a clear idea about the size of this season's crop, the sources said.

Food ministry spokesman N C Joshi declined to comment.

Indian farmers, who grow only one wheat crop in a year, will start their harvests from end of March and April, after planting the crop in October and November.

There has been some concern from farmers and experts about the size of the crop because of wet weather. But Farm Minister Radha Mohan Singh expects India to harvest at least 92 million tonnes of wheat in 2016, almost in line with the previous government forecast.

Output last year was 86.53 million tonnes, down from 95.85 million tonnes in the previous year, due to rains and hail flattening the crop in February and March.

On March 1, wheat stocks at government warehouses totalled 16.9 million tonnes against a minimum requirement of 13.80 million tonnes.

Source : moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 28-04-2025
Notification No. 24/2025-Customs
Seeks to amend List 34A and 34B of the Notification No. 50/2017-Customs dated 30.06.2017

Date: 23-04-2025
Notification No. 28/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 17-04-2025
Notification No. 26/2025 – Customs (N.T.)
Amendment to Notification No. 77/2023-Customs (N.T.) dated 20.10.2023 - Revision of rate of duty drawback of Gold jewellery and silver jewellery/articles

Date: 15-04-2025
Notification No. 24/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 08-04-2025
Notification No. 23/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 04-04-2025
NOTIFICATION No. 23/2025-Customs
Seeks to amend entry 515C of notification 50/2017-Customs

Date: 28-03-2025
Notification No. 17/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 27-03-2025
NOTIFICATION No. 11/2025–Central Tax
Seeks to notify Central Goods and Services Tax (Second Amendment) Rules 2025

Date: 13-03-2025
Notification No. 13/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 13-03-2025
Notification No. 10/2025 – Central Tax
Seeks to amend notification No. 02/2017-Central Tax.



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001