Govt permits basmati rice exports via land custom stations

Government permitted exports of basmati rice through land custom stations on Indo-Bangladesh and Indo-Nepal border.

"In addition to the EDI (electronic data interchange) ports, export of basmati rice will now be permitted through land custom stations on Indo-Bangladesh and Indo-Nepal border also subject to registration of quantity with DGFT (Director General of Foreign Trade), the commerce ministry said in a notification.

It also said exports of basmati shall not be permitted on the basis of documents against acceptance unless such export is covered either by bank guarantee or ECGC guarantee with effect from October 1.

ECGC Ltd (Export Credit Guarantee Corporation of India Ltd), wholly-owned by the government with the objective of promoting exports from the country by providing credit risk insurance and related services for exports.

India's rice exports in 2015-16 stood at USD 5.79 billion.

It was USD 459.39 million in April this year.