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UK said: India-UK FTA now focused on delivery

India-UK FTA focus 'decisively shifted from signing to delivery': UK The focus of the India-UK Free Trade Agreement (CETA) has ‘decisively shifted from signing to delivery’, and that work is progressing apace, according to Jason Stockwood, UK Minister of State in the Department for Business and Trade and HM Treasury.The agreement is expected to “enter into force before the end of Spring,” Stockwood, who was speaking during a debate on the CETA in the House of Lords recently, said.The British Parliament is in the process of ratifying the agreement, with peers and MPs debating all aspects of the agreement in both houses before implementation expected by next month. The deal is set to unlock £25.5 billion in bilateral trade by 2040.Stockwood went on to describe the CETA as a ‘momentous achievement’, which goes well beyond ‘India’s precedent’ to open the door for UK businesses.“India will drop tariffs on 90 per cent of its lines, covering 92 per cent of current UK exports, giving the UK tariff savings of £400 million per year immediately on entry into force. This will rise to £900 million per year 10 years from now, even if there is no increase in trade. India’s average tariff will fall from 15 per cent to 3 per cent,” Stockwood highlighted.The United Kingdom logged £47.2 billion pounds in trade with India in last year, up by 15 per cent year on year, making India the country’s 11th-largest trading partner, the minister revealed.“Only the UK has secured access to India’s £38 billion federal procurement market,” he pointed out.Several others noted ‘missed opportunities’, with the pact being heavily weighted towards goods and leaving considerable scope for further work on services and investment facilitation.read more :- Rupee Opens 40 Paise Higher at 91.93

New deadline for Export Obligation extended till 31st August

India extends EO period for advance and EPCG authorizations till August 31India's Directorate General of Foreign Trade (DGFT) has recently announced extension of the Export Obligation (EO) period for certain export promotion schemes as geopolitical developments have impacted global shipping routes, logistics corridors and international supply chains.DGFT has provided automatic extension of EO period or block-wise EO fulfillment period till August 31, 2026 for specified advance authorizations and export promotion capital goods (EPCG) authorizations where the EO period is expiring between March 1 and May 31 this year.The extension will be granted automatically, and exporters will not be required to submit any separate application or pay any composition fee to avail the benefit.A release from the Ministry of Commerce and Industry said the measure will provide additional operational flexibility to exporters facing disruptions.The exemption applies to advance authorisations, including annual requirement and special advance authorisations, as well as EPCG authorisations.The extension granted will be in addition to the existing provisions under the Foreign Trade Policy (FTP) and Handbook of Procedures, which allows exporters to seek EO period extension on payment of prescribed composition fee.Regional officers of DGFT will verify compliance with EO requirements at the time of issuing EO Discharge Certificate, closure or regularization of the authority.read more :- Bhilwara's musk cotton will shine in the global market

Bhilwara's musk cotton will shine in the global market

Bhilwara's 'Kasturi Cotton' will shine in the global market, farmers will get premium priceThis is a big gift for the cotton farmers of Bhilwara district. Indian cotton is recognized globally as a premium brand ‘Kasturi Cotton Campaign’ The conch was blown. Ministry of Agriculture and Textiles, Federation of Indian Textile Industry and Cotton Research Institute This is a big gift for the cotton farmers of Bhilwara district. With the aim of establishing Indian cotton as a 'premium brand' globally, 'Kasturi Cotton Campaign' was launched in Udalias village of Sahada block on Sunday. In this farmer seminar organized under the joint aegis of the Ministry of Agriculture and Textiles, Indian Textile Industry Federation and Cotton Research Institute, experts shared the roadmap to make the farmers prosperous. GS Ametha, State Project Officer of Cotton Development Research Organisation, said that the high quality Kasturi cotton prepared through scientific method will fetch the farmers the best price in the market. CM Yadav, senior scientist of Krishi Vigyan Kendra, taught the tricks of increasing production and quality through balanced fertilizer management and modern techniques. Describing this initiative as a boon for the district, Agriculture Officer Kajod Mal Gurjar said that the climate, soil and advanced marketing facilities here are completely suitable for Kasturi cotton. In the program, District Coordinator Govind Parashar, Bharat Kumar Sharma, Bhupesh Kumar and Sanjeev Kumar and other experts also gave tips on advanced farming and marketing.read more :- Rupee fell 12 paise to close at 92.33 per dollar

Cotton production in Khandesh dropped by 40%

Shine of 'white gold' fades in Khandesh, 40% decline in cotton productionThere has been a decline of about 40 percent in cotton production this year in Khandesh region, due to which the cotton season seems to be ending prematurely. The cotton season, which usually lasts from April to May, has stopped this time in the beginning of March. Although the Cotton Corporation of India (CCI) has extended the procurement deadline till March 15, the arrival of cotton in the mandis has almost stopped.Cotton is cultivated on a large scale in Khandesh, Vidarbha and Marathwada regions of the state, which farmers consider as 'white gold'. This time due to adverse weather conditions and heavy rains there has been a major impact on production.fall in market pricesIn the last two weeks, cotton prices have fallen by Rs 300 to Rs 400 per quintal in the private markets of Jalgaon and Khandesh. At present the price of cotton in the market is ranging between Rs 6500 to Rs 7000 per quintal. Many farmers had kept cotton at home in the hope of better prices, but they are facing disappointment due to the fall in prices. Due to low prices, many farmers are avoiding bringing their produce to the market, due to which private ginning and pressing factories are also almost closed.Farmers have large amount of stockIn Khandesh, about one lakh bales of cotton are still available with the farmers. This stock is mainly held by large farmers, who have held cotton in the expectation that the price will rise. According to Pradeep Jain, founder president of Khandesh Ginning Association, considering the current market conditions, this cotton is likely to come in the market in the next season only.Distance of farmers from government centersCotton arriving in the mandis at the end of the season is often being rejected at government procurement centers citing lack of moisture or quality. Due to this, farmers are disappointed and are staying away from government centers and are forced to keep their produce at home.read more :- The rupee fell 47 paise to open at 92.21. 

Long queues for cotton sale, CCI centres to remain open for 7 days

Farmers queue up to sell cotton, but CCI centers will only be open for seven daysFarmers in Marathwada are becoming increasingly concerned about selling cotton. The Cotton Corporation of India (CCI) has extended the cotton procurement deadline to March 15, but due to the holidays, farmers will only have seven days for the actual procurement.This period includes two Saturdays, three Sundays, and the Holi and Rangpanchami holidays. Farmers say it will be difficult to procure cotton from all farmers in such a short period.Approximately two thousand farmers in Gangapur taluka are waiting to sell cotton, while across the district this number has reached nearly eight thousand. A large number of farmers are still waiting for their turn.Improvements in Slot Booking and Message UpdatesPreviously, farmers faced significant difficulties due to the closure of slot booking at some procurement centers. Now, this process has been improved, and messages regarding cotton sale dates are being sent to farmers on their registered mobile numbers. Farmers who have not yet received the message have been urged to contact the relevant market committee.Demand for Extension of Center Opening HoursFarmers say that due to holidays, procurement will only be possible for seven days until March 15th. Therefore, it is not possible to procure cotton from all farmers in such a short time. Therefore, farmers have demanded that CCI procurement centers remain open until March 31st instead of March 15th.Fear of Lower GradesLast year, CCI reduced cotton grades several times due to deficiencies in grading and screening. This year, similar concerns are being raised, leading to concerns among farmers that they may suffer losses due to the quality of their cotton.Farmers Expect Better PricesAt the beginning of the season, cotton prices in the market were below the Minimum Support Price (MSP), so a large number of farmers turned to CCI centers to sell their cotton. Although a significant amount of cotton has been procured in the district so far, approximately 20 to 25 percent of the cotton remains lying in farmers' homes in rural areas.Farmers are waiting in hopes of receiving better prices. Therefore, they say it is important to keep procurement centers open for longer periods so that all farmers have a chance to sell their cotton.read more :- CCI weekly cotton auction: 1.08 lakh bales sold, prices stable

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