Economy

Customs imposes penalties on 2 firms for irregularities in organic rice exports

The Indian Customs Department, an arm of the Finance Ministry, has imposed a fine of ₹75 lakh on two exporters for “misleading” authorities by trying to ship out non-basmati white rice as organic non-basmati white rice. In an order passed last month (a copy is available with businessline), the Commissioner of Customs (Appeals) also imposed […]

Economy

India’s frozen shrimp export in jeopardy as the US imposes hefty CVD

The US Department of Commerce (DOC), as part of its final determination in the anti-dumping duty investigations on frozen water shrimp from India, has imposed a higher countervailing duty (CVD) compared to Ecuador, Indonesia and Vietnam. This could hit Indian seafood exports to the US and provide an edge to the competing countries. Research House […]