Govt imposes 30% duty on yellow peas import from November 1 (Financial Express)
To support domestic chana prices and encourage pulse cultivation, the Indian government has imposed a 30% import duty on yellow peas effective November 1, ending the duty-free regime that had allowed cheap imports since December 2023. The move, aimed at countering depressed mandi prices caused by low-cost imports from Russia and Canada, is expected to make pulses farming, especially chana and masoor, more remunerative during the upcoming rabi season. The decision aligns with the CACP’s recommendation to curb rising import dependency—up from 9% to 23% in four years—and to protect farmers from losses caused by frequent duty-free import relaxations.
India gets 6 months exemption from US sanction on Chabahar port, says MEA (Financial Express)
India has secured a six-month exemption from U.S. sanctions on Iran’s Chabahar Port, allowing continued operations at the strategic Gulf of Oman facility crucial for India’s connectivity to Afghanistan and Central Asia. The waiver, restored after its recent withdrawal by the Trump administration under the Iran Freedom and Counter-Proliferation Act, spares Indian activities at the port from punitive American measures aimed at isolating Tehran. This temporary relief ensures India can maintain its regional trade and strategic outreach while the U.S. continues its “maximum pressure” policy against Iran.
Doing trade deal with India, says Trump (Financial Express)
US President Donald Trump announced that a trade deal with India is imminent, signaling renewed warmth in bilateral economic ties that had strained over tariffs and oil imports from Russia. Both countries have concluded five rounds of negotiations on the Bilateral Trade Agreement and are now finalizing the legal text after resolving most major issues, including tariffs, though differences over India’s farm and dairy market access had earlier delayed progress. Trump’s remarks boosted investor sentiment, with shares of export-linked sectors rising as expectations grew that the U.S. might ease its additional tariffs, potentially revitalizing the $212 billion India–U.S. trade relationship.
