Current Affairs - Economy - Discussion

The Indian government initially reduced the export tax on parboiled rice from 20% to 10% before revoking it entirely to boost exports. This reduction aimed to enhance India's competitiveness in the global market, particularly against major rice-exporting countries like Pakistan, Thailand, and Vietnam. By eliminating the tax, India seeks to capitalize on surging inventories and a predicted bumper crop, increasing rice shipments and strengthening its position in the international rice trade. This move reflects the government's efforts to promote economic growth and support the agricultural sector.