Daily News - Wednesday, 10 June 2026

India Considers Extending Petrochemical Import Tax Exemption Beyond June 30 (Reuters)

India is weighing an extension of the import tax exemption on 40 petrochemical products used in plastics and pharmaceuticals beyond June 30, 2026, according to Ravi Teja, Deputy Director at the Department of Commerce. The exemption, first announced in April 2026, was aimed at easing shortages in pharmaceutical inputs and stabilizing industrial supply chains disrupted by the Iran conflict. India, a net importer of petrochemical derivatives despite domestic production from LPG, naphtha, and ethane, has faced pressure to secure raw materials for critical sectors. The Ministry of Commerce is monitoring geopolitical developments and will decide on continuation based on industry needs and regional stability. Following U.S.-Israeli strikes on Iran, the government directed companies to divert locally produced petrochemical components toward LPG production, prioritizing cooking gas supply. This policy underscores India’s balancing act between ensuring energy security, supporting domestic industries, and managing external shocks to its trade and manufacturing ecosystem.

India Exports 1 Tonne of GI-Tagged Tezpur Litchi to Dubai (Economic Times)

India has exported 1 tonne of Geographical Indication (GI)-tagged Tezpur Litchi from Assam to Dubai, marking a milestone in promoting premium fruits from the North Eastern Region in overseas markets, according to the Commerce Ministry. Known for its exceptional sweetness, bright red colour, and distinctive aroma, the Tezpur Litchi has gained international recognition through its GI status, which strengthens identity and market appeal. The ministry highlighted that the Tezpur region cultivates several notable litchi varieties, including Bombaya, Bilati, Elaichi, Piyaji, and Sahi, all contributing to the region’s agri-diversity. This export initiative is part of the government’s broader push to enhance agricultural exports from the North East, aligning with India’s trade diversification strategy. The GI certification has created new opportunities for premium agricultural exports, positioning Tezpur Litchi as a flagship product for India’s fruit exports. Officials emphasized that such initiatives not only boost farmer incomes but also expand India’s footprint in high-value global agri markets.

Government of India to Sell Up to 3% Stake in NLC India Ltd. via Offer for Sale (moneycopntrol)

The Government of India has announced an Offer for Sale (OFS) of up to 3% equity stake in NLC India Ltd (formerly Neyveli Lignite Corporation), comprising a base offer of 2% and an additional 1% green shoe option in case of oversubscription. The Department of Investment and Public Asset Management (DIPAM), led by Secretary Arunish Chawla, set the floor price at Rs 303 per share, with bidding scheduled to open for non-retail investors on June 9, 2026, and for retail investors on June 10, 2026. This transaction follows earlier stake sales in NHPC, Coal India, and Central Bank of India, as part of the government’s FY27 disinvestment program. So far, disinvestment proceeds have totaled INR ₹7,808 crore (USD $940 million), contributing to fiscal consolidation efforts. NLC India, a Navratna PSU under the Ministry of Coal, is a key player in lignite mining and power generation, making this stake sale strategically significant. The move underscores the government’s continued push to meet its disinvestment targets while broadening retail and institutional participation in public sector enterprises.

India Leads BRICS+ Push for Food Security and Climate Resilient Agriculture (Economic Times)

The Economic Times reports that India is spearheading BRICS+ agricultural cooperation, positioning food systems as a foundation for resilience, prosperity, and global trust. The expanded BRICS+ grouping of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, UAE, and Indonesia represents a majority of the world’s population, land, and food production capacity, making its agricultural policies critical for global food security. India’s agricultural output reached a record 376.56 million tonnes in FY26, including 154.02M tonnes of rice, 120.66M tonnes of wheat, 55.09M tonnes of maize, and 17.58M tonnes of millets, alongside leadership in milk, pulses, spices, fruits, vegetables, cotton, sugarcane, fish, and eggs. The Indian Council of Agricultural Research (ICAR) and the Department of Agricultural Research and Education (DARE) have driven innovations such as the world’s first genome edited rice varieties and genome editing across 40 crops, reinforcing India’s scientific leadership. BRICS+ priorities include climate resilient cereals, regenerative farming, harmonised trade standards, biotechnology, AI-driven precision agriculture, and rural transformation through infrastructure, renewable energy, and women-led enterprises. India has proposed initiatives such as a BRICS+ Centre of Excellence for Climate-Resilient Agriculture, a Digital Agriculture Knowledge Network, and an Agri Innovation and Startup Exchange, underscoring its role as a global driver of sustainable agrifood systems.