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Economy News, Latest Economic News Today | The HinduBusinessLine

GE, HAL clinch tech deal on joint jet engine plan India rejects USTR allegations, seeks termination of Section 301 probe Indian automobile sales record highest-ever sales in FY26, first time after FY19: SIAM Madhya Pradesh CM says basmati rice from the State is exported to 47 nations 63 Moons’ cybersecurity arm pilots GPS-spoofing solution at Indian airports Highways ministry notifies amendment to streamline fee for overloaded vehicles on NHs Global aviation crisis deepens as fuel shortage, Iran conflict hit airlines TRI launches agri-voltaic project to help farmers earn double income Hotel industry to hit $31 billion in 2029; listed hotel firms set to add 70k rooms by 2030: CBRE Temperatures may trend up over North-West, Central India until weekend Reduction in airport tariff credit neutral, minimal impact on revenue: Ind-Ra Global coffee prices rise as fertiliser costs and West Asia tensions threaten supply Bluspring Enterprises to acquire LSG Sky Chefs India, enters aviation catering sector China says policy to improve relations with India remains unchanged amid Arunachal naming row Research firms divided over impact of below normal monsoon on food inflation Unnat Krishi Mahotsav concludes, farmers to emerge as energy, fuel & hydrogen providers, says Gadkari Airlines may get ₹5,000 crore credit support under proposed ECLGS variant How kashmir’s breakthrough is making Gucchi mushroom farming possible Centre not taking away State’s power on bonus for agri produces, says FM Sitharaman Carriers cut flights on cost pressures, uncertain demand GE Aerospace scales AI from pilots to production; India anchors global capability West Asia crisis may push India’s current account deficit to 2% of GDP: Crisil Tax Dept to resume Tiger Global reassessment, says GAAR relief won’t alter SC ruling Ceasefire talks fail to restore vessel movement in Strait of Hormuz, fate of 599 ships remain inconclusive DMRC launches mid-life refurbishment of Blue Line trains to enhance safety and passenger experience Retail inflation likely rose 3.5-4% in March India-UK free trade pact may come into force from second week of May: Official 'West Asia war a good opportunity for energy reforms, lower costs for industry' India’s marine exports surge to ₹62,408 crore in 2024-25, Govt sets ₹1 lakh crore target PM Modi to inaugurate Dehradun-Delhi Expressway on April 14 India’s economic growth journey huge opportunity for international partners: Kwatra From diesel to daylight: How government solar schemes are powering India’s farmers The next energy leap: Replicating ethanol’s success in diesel Delhi EV Policy: Electric 3-Wheelers Only by 2027, 2-Wheelers by 2028 Windfall levy on export bound diesel, ATF raised India-flagged LPG tanker Jag Vikram crosses Strait of Hormuz after US-Iran ceasefire Muted pricing power, rising costs to curb benefits of demand in cement sector: HDFC Securities Central Railway to run four special local trains for Ambedkar Jayanti Cotton Association revises output estimates for 2025-26 up at 324 lakh bales of 170 kg each Agtech marketing in the age of regional content and creator communities Rajnath Singh, Nitin Gadkari to join 3-day agri event at Shivraj’s home turf, inaugurated today How agripreneurship will drive improved rural livelihoods in India World’s largest tur producer, yet an importer: A self-sufficiency puzzle unfolding on ground Ethanol in diesel generators: India’s next practical step towards energy security How sustainable sourcing can unlock value in India’s agri-value chains West Asia Crisis: Induction cooking may consume 13-27 GW power Govt defers power plant maintenance for three months; ready for summer demand Tractor sales cross 10 lakh mark in FY26 on strong rural demand, GST cut India to continue buying Russian crude oil India’s textile and garments exports to the US declined 28.7% in February 2026 Why India’s ₹5 pack won’t disappear, but getting smaller West Asia conflict: LPG usage at 21-month low in March E-way bill generation surged all time high of over 14 crore in March Cotton prices firm up tracking global prices Corn prices poised to fall on Iran-US ceasefire pact Air India at critical stage of transformation: Tata Sons Chairman FYL91 commences new flights to Hyderabad, Rajahmundry and Vijayawada Telangana’s GST revenue up 15% in last 3 months ASMS launches agri-commerce network AYOU in Hyderabad Ladakh turns to apricot blossoms to stretch short tourism season Govt proposes overhaul of company incorporation rules to cut paperwork, enable risk-based checks HAL delivers 4 helicopters to Coast Guard Charter services operators urge review of ATF pricing Structural gaps affect growth of India’s high-value horticulture sector: Report Rubio set to visit India in May to discuss trade, tariffs, defence, Quad DGFT rolls out procedure for allocation of calcined coke Qatar vows to remain reliable energy supplier to India amid West Asia tensions Gadkari bats for 100% land acquisition before approving NH projects India must rethink West Asia energy reliance after biggest shock in decades, says ONGC chief Sumeet SSG partners Pinnacle Industries to strengthen Maharashtra’s EMS fleet Consumer durables growth muted as demand slows, margins shrink: HDFC Securities March 2026 was the fourth-warmest month on record, says European weather agency India relaxes rice exports norms to some European countries Unseasonal rains damage rabi crops on 2.49 lakh ha, wheat most affected: Agri Minister ADB projects 6.9% growth rate for current fiscal, 70 bps lower than FY26 India-UK FTA likely by May 1; 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2 rice export bodies seek review of Apeda move to appoint new law firm to handle Basmati GI, IPR cases
Subramani Ra Mancombu · 2026-06-15 · via Economy News, Latest Economic News Today | The HinduBusinessLine
Basmati Rice Spilling from Sack - basmati rice spilling from burlap or jute sack.

Basmati Rice Spilling from Sack - basmati rice spilling from burlap or jute sack. | Photo Credit: TRAVELLINGLIGHT

Two rice exporters’ organisations have urged the Commerce Ministry to reconsider the Agricultural and Processed Food Products Export Development Authority (Apdea) decision to “arbitrarily” appoint a new law firm to handle global cases on basmati geographical indication (GI) and intellectual property rights (IPR).

However, Apeda sources said the law firm has been engaged after due process of tender by an expert selection panel.

The All-India Rice Exporters Association (AIREA) and The Basmati Rice Millers and Exporters Association (Punjab), or BRMEA, in separate letters to Commerce Minister Piyush Goyal and Apeda Chairman Abhishek Dev, said the new law firm has been selected without consulting stakeholders and exporters.

Both organisations said their representations do not question the law firm’s professional competence and were not against the law firm. One of the main reasons for raising concern was the law firm’s “conflict of interest.” 

Selection by expert panel

“Our concern relates to institutional governance, stakeholder confidence and adherence to the Memorandum and Rules of BEDF (Basmati Export Development Foundation) in matters concerning protection of India’s Basmati Geographical Indication,” said AIREA President Satish Goel. 

“... it concerns the preservation of India’s long-standing legal doctrine, international credibility and the substantial public and stakeholder investment made over several decades,” said Bal Krishan Garg, President of BRMEA.

Conflict of interest

Garg said one of the most contentious issues in recent years has been the demand to include Madhya Pradesh regions in the Basmati GI area.

The law firm selected by Apeda had represented petitioners for the inclusion of some regions in the State where Basmati rice is grown. 

Apeda had been “historically opposing” the inclusion of Madhya Pradesh regions in the GI area for Basmati rice. 

 “Any firm representing parties favouring the expansion of basmati rice growing area while simultaneously advising Apeda is in conflict of interest,” he said.

Basmati GI territorial scope

“Concerns have been raised by stakeholders regarding past positions taken (by the law firm) in matters relating to the territorial scope of Basmati GI. Without commenting on the merits of such issues, we believe these concerns deserve consideration before any final appointment is made,” said AIREA’s Goel.

The GI defines that Basmati rice is grown in the Indo-Gangetic plains. The law firm, picked by Apeda, questioned this and termed it arbitrary. It had also said that agro-climatic factors should prevail over historical and reputational considerations, and public perception has no “independent significance” in GI law, said BRMEA’s Garg. 

“These propositions (of the law firm) are fundamentally inconsistent with the position consistently maintained by Apeda and the Government of India,” he said.

Madhya Pradesh-linked petitioners, lawyers and Pakistan have opposed India’s EU application, while Apeda has opposed Pakistan’s application. 

BEDF rules

“Apeda’s international position is built on the fact that basmati originates from the specified Indo-Gangetic Plain area,” said the BRMEA president.  

Referring to the BEDF rules, Goyal said rule 19.2.21 specifically empowers the Board to appoint and pay consultants and advisors. The proposed law firm is a strategic consultant and advisor to BEDF, and, therefore, it should have been involved in the selection.

Rule 19.1 of the BEDF rules makes the board responsible for the management and administration of the society’s affairs and vests in it all powers for the furtherance of its objectives, he said. 

Garg said the current Apeda and BEDF terms of reference require the selected law firm to formulate a strategy. advise on WTO and TRIPS issues, assist in regional trade agreements and FTAs, monitor international developments, represent India globally and act as a strategic custodian of India’s basmati doctrine. 

“Current assignment proposed by APEDA and BEDF goes well beyond conventional litigation and requires complete alignment with India’s long-standing policy …,” he said. 

Perception of division

Any perception that India is internally divided on territorial boundaries, historical reputation and legal foundations of Basmati could be exploited by adverse parties, particularly Pakistan. and may weaken India’s position in ongoing and future proceedings, said the BRMEA president.

Stating that Basmati exports contribute ₹65,000 crore annually to the exchequer, AIREA urged Apeda to keep the appointment in “abeyance”, pending consideration by the BEDF board. 

“If the appointment letter has been issued, it may kindly be placed on immediate hold, and no further action may be taken until the concerns raised herein are duly considered,” said Goyal.  

BRMEA urged the Commerce Minister to cancel the appointment. “Also, the process of IPR law firm selection by APEDA/BEDF may be driven through an empowered methodology such constituting an independent panel of experts in Geographical Indications, WTO and TRIPS law,” said Garg. 

Published on June 15, 2026