Global Rice News

Amid Red Sea Unrest, Rice Exports Take a Hit in India

In the wake of the Red Sea unrest, there have been concerns about the impact on rice exports, both domestically and internationally. Union Commerce Minister Piyush Goyal addressed the issue, acknowledging that the extent of the impact will only be clear when the export data for December is available. However, it is evident that basmati rice exports have been affected. Additionally, there has been a decrease in basmati rice prices within the country. On a positive note, e-commerce exports have reached a record-breaking $800 million this year, according to Director General of Foreign Trade Santosh Kumar Sarangi.

Minister Goyal also highlighted the benefits of the expansion of the road scheme, particularly for small exporters and MSMEs who utilize postal and courier services. Under the tax and duty relief scheme, e-commerce exporters will now receive significant benefits, similar to conventional exporters.

Reducing Costs for Small Exporters

Minister Goyal emphasized that the reduction in costs for small exporters will provide them with the opportunity to thrive and contribute to the growth of the country’s exports. Currently, only regular exporters are benefiting from the Roadtape Scheme. However, the Ministry of Commerce and Industry plans to introduce the lane scheme specifically for e-commerce exports. The export limit for e-commerce has been increased from 5 million GEL to 10 million GEL. In addition, 1000 postal export centers have been established to facilitate the transportation of goods.

A Guide for Exporting through E-commerce

To aid small and medium-sized enterprises (SMEs), Minister Goyal released a guide on e-commerce exports, offering step-by-step assistance for becoming an exporter. The process typically involves acquiring a PAN number, a bank account, an Authorized Dealer (AD) Code, an Import-Export Code (IEC), and a GSTIN.

Easy Access to Export Markets

To boost e-commerce exports, the Directorate General of Foreign Trade is partnering with major e-commerce platforms, ensuring that small entrepreneurs have easier access to export markets. Recently, agreements have been signed with Amazon and the e-commerce platform Shiprocket.

Opportunities for Growth in Various Sectors

Minister Goyal highlighted the vast potential for e-commerce exports in sectors such as textiles, apparel, leather, gems-jewelry, and handicrafts. Efforts are underway to promote business-to-consumer (B2C) exports in these sectors. The government is actively working on creating a conducive ecosystem to facilitate this growth. Meanwhile, Director General Sarangi announced that e-commerce exports have been steadily increasing, with a record value of USD 800 million this year.

Overall, while the Red Sea situation has impacted rice exports, the government is taking measures to support exporters and promote e-commerce exports across various sectors.

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