India exempts Singapore from rice export ban due to `close strategic partnership`
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
India has agreed to exempt Singapore from its ban on rice exports owing to “very close strategic partnership”, the External Affairs Ministry said.
"India and Singapore enjoy a very close strategic partnership, characterised by shared interests, close economic ties and strong people to people connect. In view of this special relationship, India has decided to allow export of rice to meet the food security requirements of Singapore," Ministry spokesperson Arindam Bagchi was quoted as saying in a communique issued late Tuesday night
Formal orders in this regard will be issued shortly, he added.
On July 20, India had banned export of non-basmati rice to prevent its rising prices and ensure availability in the domestic market.
However with Singapore being a "close friend" of India, it has been seeking shipments of rice and exemption from the ban, which the Centre has now granted.
Meanwhile, India has also allowed traders to ship out their non-basmati white rice cargoes, which are stuck at ports due to the ban on exports, the DGFT said in an order issued late on Tuesday.
