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Started 1 week ago · Updated 1 week ago

Nepal Assures Sugar Supply Amidst India's Export Restrictions; India Bans Silver Imports

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Nepal's Ministry of Industry, Commerce and Supplies has assured consumers of a regular supply and price stability of essential goods, including sugar, despite India's recent sugar export policy revisions. The ministry stated that current domestic and imported stocks are sufficient for approximately eight months and that market monitoring is being strengthened. Meanwhile, India has banned the import of most silver types to reduce expenditure and ease pressure on its rupee.

  • Nepal's Ministry of Industry, Commerce and Supplies stated that current sugar stocks, from domestic production and imports, are sufficient to meet demand for about eight months.
  • The ministry is enhancing market monitoring, supply management, and inter-agency coordination to prevent artificial shortages, black marketing, hoarding, and unjustified price hikes.
  • India's ban on silver imports, affecting 99.9 percent pure silver bars and semi-finished items, aims to curb import spending and support the Indian rupee.
  • India recently increased import duties on gold and silver from 6 percent to 15 percent, citing rising global crude oil prices and a need to control precious metal imports.
  • In the first 10 months of the current fiscal year, Nepal received foreign investment commitments worth NPR 45.32 billion across 728 projects, with agro-based industries receiving the largest share.

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Ministry of Industry, Commerce and Supplies Department of Industry India Government of India Netra Prasad Subedi

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