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Latest Share Market News, Sensex, Nifty, BSE, NSE Today | The HinduBusinessLine

IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy BALCO deploys AI humanoid agent for real-time training, operations and safety Om Power Transmission IPO subscribed 3.33 times on final day Broker’s call: Anand Rathi Wealth (Neutral) Broker’s call: Paytm (Outperform) Pakistan Stock Exchange plunges 5,000 points after US-Iran talks fail NSE gets MCA approval to launch National Coal Exchange of India Citius TransNet Investment Trust's ₹1,105-cr IPO to open on Apr 17 NSE gets MCA nod for coal exchange entity name Coal stock adequate for 90 days available: Union Coal Minister Kishan Reddy Rupee falls most in two weeks as oil spikes on US move to blockade Iran ports India auctions 46 critical mineral blocks, launches 7th round with 19 more: G Kishan Reddy Dalal Street midday: Sensex, Nifty down nearly 1%, Reliance, Eicher among top laggards, auto, oil Stocks weigh Iranian crude returns to India after seven years as tankers dock at key ports Sensex, Nifty pare early losses but stay in red at noon; Auto, Financials drag India's March palm oil imports fall 19% to three-month low Government bonds slump after US-Iran peace talks falter Failure of US-Iran talks set to weigh on risk assets Monday Failure of US-Iran truce talks: Rupee opens 57 paise weaker RBI criticises banks’ rupee arbitrage trades Crude oil futures rise as US moves to blockade Iranian ports Gold falls on stronger dollar, fading Fed rate-cut hopes Crude oil jumps 7% to above $100 on US’ maritime blockade on Iran Japan’s benchmark bond yield jumps to 29-year high as US-Iran talks collapse How govt policy initiatives to impact shares of EV makers, oil exporters Stock Market Highlights: Sensex ends at 76,776; Nifty 50 down 226 pts (0.94%) at 23,823 Draft CAFE-3 Norms: Govt eases penalties, focuses on carbon credit trading for auto sector Brokers’ ISF explores unified documentation framework to ease compliance burden K-shaped trend emerges in jewellery as premium demand stays resilient Retail investors give recent IPOs a miss due to lack of bumper listing gains Inconclusive US-Iran talks, oil prices, inflation data to dictate investors' sentiment: Analysts FPIs extend sell-off in April; pull out ₹48,213 crore in 10 days After hitting rock bottom, Indian stock market is on its way to a speedy recovery, says Vallum Capital Gold vs equities: Does the yellow metal hold edge despite softening shine? 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Battle over Basmati rice GI for Madhya Pradesh heats up
Prabhudatta Mishra · 2026-06-26 · via Latest Share Market News, Sensex, Nifty, BSE, NSE Today | The HinduBusinessLine

The battle over expanding the geographical indication (GI) area for Basmati rice by including the areas in Madhya Pradesh has intensified, with the All India Rice Exporters Association (AIREA) formally opposing any expansion of the notified Basmati-growing region. At its general body meeting held earlier this week at Sonipat in Haryana, the association passed a resolution against including new areas for Basmati GI, a move that directly challenges Madhya Pradesh’s long-standing demand for inclusion in the Basmati map.

The resolution is significant because it reflects growing resistance from the trade to Madhya Pradesh’s claim, which has been opposed by traditional Basmati-producing states led by Haryana and Punjab. Trade sources said even some exporters who had earlier expressed support for MP’s inclusion did not object to the resolution, suggesting a broadening consensus within the export industry against expanding the GI area at this stage.

Some of the Basmati exporters of Punjab and Haryana were vocal and wanted to know how the GI issue all of a sudden has cropped up after so many years, sources said. A leading exporter also said that AIREA should highlight how India has been consistently questioning the expansion of area in Pakistan.

Emotive issue

The issue of including Madhya Pradesh in the GI area is an emotive issue in the State, first raised by Union Agriculture Minister Shivraj Singh Chouhan, when he was chief minister, as the state government had filed a case in GI registry for its inclusion in the geographical area. Under the GI law, as Basmati rice has already received the GI tag, even if farmers grow Basmati varieties outside the demarcated GI area, those cannot be sold as Basmati, making it difficult to get exported.

Congress leader Digvijaya Singh in March threatened to go on a hunger strike if the state’s farmers do not receive the GI benefits for their Basmati rice. But, Chouhan is on the defensive now and not ready to touch the issue. In April, when Chouhan was asked about Singh’s threat on Basmati GI, he declined to comment saying the matter was sub-judice.

Singh met Commerce Minister Piyush Goyal in May and sought his intervention, terming the previous stand of the Agricultural and Processed Food Products Export Development Authority (APEDA) a “mistake and should be corrected now”, sources said. He is also believed to have suggested that an impartial expert committee be set up to revisit the issue and find out what could be done.

Onus on APEDA?

Earlier this week, a senior official of the Commerce Ministry is believed to have held stakeholder consultations with experts and APEDA officials on the issue. Prior to that meeting, APEDA Chairman Abhishek Dev discussed the GI issue with various stakeholders including legal experts.

Kedar Sirohi, the head of farmer cell of Congress party in Madhya Pradesh, who met Dev last week, said that APEDA should first decide what to do as the agri-export promotion body it should not be a party to interest of any particular state. Sirohi, who was also present when Singh met Goyal, said he has taken up the GI issue with scientists of the Indian Council of Agricultural Research (ICAR).

“Since the GI mandate for Basmati rice is with APEDA, it has to decide if it wants inclusion of Madhya Pradesh or not. Once it agrees, a solution can be found when concerned people discuss the issue,” Sirohi said.

Pending with Madras HC

On the other hand, an expert requesting anonymity wondered if India is opposing Pakistan’s move to expand Basmati area at global forum like European Union, how can it “emulate the neighbouring country’s wrong model”. Till any judicial verdict comes, status quo should be maintained, the expert said.

After a prolonged hearing for years, in February 2016, the Chennai-based GI registry issued the GI certificate to APEDA for Basmati rice, under which the recognised area included some districts of Jammu and Kashmir, Himachal Pradesh, Punjab, Haryana, western Uttar Pradesh, Uttarakhand and Delhi. Thereafter the matter went to many courts and finally the Supreme Court referred it to Madras High Court in 2021. Since then, the matter is pending.

businessline on June 16 had reported that two rice exporters’ organisations had urged the Commerce Ministry to reconsider the APEDA’s decision to “arbitrarily” appoint a law firm to handle global cases on basmati geographical indication (GI) and intellectual property rights (IPR). But, APEDA sources had said that the law firm had been engaged after due process of tender by an expert selection panel.

Published on June 26, 2026