Why did India decide to abolish the export tax on parboiled rice
India has scrapped the export tax on parboiled rice to enhance exports of the product.
Reasons why India decided to abolish the export tax on parboiled rice:
- To enhance export opportunities: Removing the export tax on parboiled rice is aimed at boosting exports of the product by making it more competitive in the global market.
- Competitive advantage: By eliminating the tax, Indian parboiled rice becomes more attractive to foreign buyers due to lower prices, leading to increased demand and higher export volumes.
- Promoting economic growth: The move is expected to contribute to the overall growth of the Indian rice industry and the economy by expanding market reach and increasing revenue from exports.
- Trade agreements: The decision may also be in alignment with international trade agreements or to respond to changing market dynamics.
Answered
6 months ago