MRL
Commerce ministry developing platform for registration, resolution of non-trade barriers
"We are making a portal so that we can prioritise all the NTBs. Traders will register their complaints and the ministry will pursue that," the official said. In cases where the barrier is impacting a large volume of goods will be prioritised for their redressal and action-taking.
Govt working with spice makers to ensure EtO norm compliance; asks Everest to take corrective action
Government finds non-compliant Everest Spices with ethylene oxide, asks for corrective action. MDH samples compliant. Spices industry evolving to meet MRL requirements. Reports on recall of Indian spice brands in Singapore and Hong Kong due to ethylene oxide residue. Spices exports rose 12.27% to USD 405.62 million in April.
India's spice export may fall 40 pc if EtO contamination issue not resolved quickly: FISS
The Federation of Indian Spice Stakeholders (FISS) on Friday said India's spice export may decline nearly 40 per cent in FY25 if the issue of ethylene oxide or EtO contamination in spices meant for exports is not addressed at the earliest. The statement came against the backdrop of Hong Kong and Singapore banning the sale of popular brands MDH and Everest after detecting carcinogenic chemical ethylene oxide in their products, leading to a mandatory recall from shelves.
India has stringent norms for pesticide residue limits: FSSAI
The Food Safety and Standards Authority of India (FSSAI) stated that India maintains some of the strictest maximum residue limits (MRLs) for pesticides globally. MRLs are determined based on risk assessments for different food items.
FSSAI calls reports of allowing 10x more MRL in herbs, spices as 'false and malicious'; says India has most 'stringent standards'
The Food Safety and Standards Authority of India (FSSAI) has clarified that it allows 10 times more pesticide residue levels in herbs and spices, stating that it has one of the most stringent standards of Maximum Residue Levels (MRL) of pesticides. The MRLs of pesticides are fixed differently for different food commodities based on their risk assessments. India has registered over 295 pesticides, with 139 approved for use in spices alone.
FSSAI allows 10 times more pesticide residue in herbs, spices
India dilutes pesticide norms for herbs and spices, raising MRL to 0.1mg/kg. Activists fear harm to exports. Concerns include health risks, cumulative pesticide effects, and harm from unknown pesticides on imports.
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From spices to steel to drugs, India's exports are being hammered
India's path to becoming a developed country hinges on boosting exports, as demonstrated by China's growth. Leveraging bilateral agreements and FTAs, India is expanding into new markets like Africa and Latin America. Yet, quality issues and trade restrictions pose challenges, such as recent bans on Indian spices in Hong Kong and Singapore. Additionally, green trade barriers like the EU's CBAM could impact key sectors like steel, potentially affecting Indian exports to the EU. Strengthening regulations and meeting global standards are crucial for India to realize its export potential.
India calls for norms to fix default maximum pesticides residue limit
In a submission to the WTO last week, India said that stringent MRLs can be trade-restrictive and act as non-tariff barriers to international trade, disproportionately affecting exporters from developing countries.
In setback for Oberoi Group flagship, SC confirms order to hand over Shimla's Wildflower Hall to Himachal govt
The Himachal Pradesh High Court, in the first week of January, had allowed a petition from the state government and directed EIH to vacate the historic luxury property located in Mashobra, Shimla.
Himachal Pradesh HC directs EIH to vacate Wildflower Hall luxury hotel in Mashobra
Ahead of the court's order, the Himachal Pradesh government had argued that since EIH had failed to comply with the direction of the arbitral award of July 23, 2005, the state government had decided to resume the 'Wild Flower Hall' property and take its possession in terms of the award.
Himachal Pradesh HC directs EIH to vacate Wildflower Hall Hotel in two months
Ahead of the court’s order, the Himachal Pradesh government had argued that since EIH had failed to comply with the direction of the arbitral award of July 23, 2005, the state government had decided to resume the ‘Wild Flower Hall’ property and take its possession in terms of the award. In 1995, the Oberoi Group converted the property spread over 77,000 square meters into a five-star hotel after signing an agreement with the Himachal Pradesh government through a joint venture called Mashobra Resort Ltd (MRL).
HC grants EIH time to reply in Wildflower Hall dispute
The Himachal Pradesh High Court granted EIH Ltd, the flagship company of the Oberoi Group, time to file its rejoinder to the reply filed by the state government in a dispute over the historic Wildflower Hall luxury hotel in Shimla.
Wildflower Resort Case: Himachal gets time to reply to EIH's plea
In 1995, The Oberoi Group converted the property spread over 77,000 square meters into a five-star hotel after signing an agreement with the Himachal Pradesh state government through a joint venture called Mashobra Resort (MRL). Under the arrangement, the state government got shares that translated into a stake in the venture. As per its annual 2022-2023 report, EIH holds 78.79% shares in MRL, and the ownership interest held by non-controlling interests is listed as 21.21%.
Buy KNR Constructions, target price Rs 329: HDFC Securities
KNR Constructions Ltd. key Products/Revenue Segments include Income From Contracts and Other Operating Revenue for the year ending 31-Mar-2022.
Fast track action to remove non-tariff barriers key to realise trillion-dollar merchandise export goal: GTRI report
It asked for upgrading domestic systems, in cases where Indian products are rejected due to quality issues; and retaliating if unreasonable standards or rules continue to obstruct exports from New Delhi. "Many of India's exports suffer due to time taking prior registration requirements and unreasonable domestic standards/rules in many countries. India must talk to partner countries for reasonable solutions," GTRI Co-founder Ajay Srivastava said.
NITI Aayog unveils TCRM Matrix framework to drive innovation in India
The NITI Aayog framework is expected to help the government prioritize funding, setting regulations, mitigate risks and enhance public-private partnership.
Buy Tata Consumer Products, target price Rs 910: Motilal Oswal Financial Services
Tata Consumer Products, incorporated in the year 1962, is a Large Cap company (having a market cap of Rs 71626.80 Crore) operating in FMCG sector.
Buy Tata Consumer Products, target price Rs 870: Sharekhan by BNP Paribas
Any large inorganic deal focusing on enhancing shareholders’ value will be a key trigger for valuations to improve in the near term.
Buy VRL Logistics, target price Rs 590: Prabhudas Lilladher
VRL Logistics, incorporated in the year 1983, is a Small Cap company (having a market cap of Rs 4938.40 Crore) operating in Logistics sector.
Buy VRL Logistics, target price Rs 597: Prabhudas Lilladher
Promoters held 64.17 per cent stake in the company as of 31-Dec-2022, while FIIs owned 4.15 per cent, DIIs 20.77 per cent.
Buy Tata Consumer Products, target price Rs 950: ICICI Direct
Strong innovation & premiumisation strategy in salt, tea, Sampann & Soulful in the Indian market are expected to drive sales & margins.
Buy HEG, target price Rs 1610: Jefferies
HEG, incorporated in the year 1972, is a Mid Cap company (having a market cap of Rs 4084.95 Crore) operating in Industrial Consumables sector.
Tea Board directs all producers, sellers to strictly comply with quality norms of FSSAI
The board has cautioned that no tea consignment that has failed on Food Safety and Standards Authority of India (FSSAI) test parameters should be out from the warehouse until receipt of the views of brokers and further direction of Tea Board in the matter, the official said.
India raises concerns with EU, Russia over tea exports
India has raised concerns at the European Union’s decision to classify dye-making chemical anthraquinone as a pesticide, calling it a non-tariff barrier that has hit tea exports to the trade bloc.
India asks Germany to help relax new EU rice import rule
The EU has reduced the maximum permissible residue level of Tricyclazole (a fungicide) in basmati rice to 0.01 mg per kg from the present limit of 1.0 mg per kg effective January 1.
MRL Posnet's Kishore Kothapalli shows an old-fashioned way to riches
In his book, “bootstrapped“ does not mean making do with available resources. It meant a conscious choice to disallow financiers to buy him growth in return for equity.
Worldline SA to pay $105 million for Chennai-based MRL Posnet
The transaction will add to Worldline's margins immediately and has been financed through internal accruals.
Worldline buys 100% stake in MRL Posnet for euro 89 million
Chennai-headquartered MRL Posnet has 100,000 payment terminals and processes close to euro 1.13 billion worth of transactions an annual basis.
Japan fixes MRL for ethoxyquin in shrimps; brings relief to Indian marine exporters
Japan's health ministry has officially notified the MRL for ethoxyquin in shrimps. It has been fixed at 0.2 ppm in crustaceans including farmed shrimp.
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