Cashew sector issues

Premachandran calls on Nirmala Sitharaman

May 04, 2015 12:00 am | Updated 05:58 am IST - KOLLAM:

Union Minister of State for Commerce and Industry Nirmala Sitharaman told N.K. Premachandran, MP, that she is prepared to hold talks to find a solution to the issue of the Ministry of Commerce slashing the export incentive on cashew kernels from 5 to 2 per cent.

The incentive was slashed under the new commerce policy of the Union government. Ms. Sitharaman told Mr. Premachandran on Saturday that the incentive on cashew and some other agricultural products had been slashed.

A press release issued by the MP’s office said he brought to the Minister’s attention that cashew processing was an industry which employed over 10 lakh people, a majority of them women.

Ms. Sitharaman was told that the incentive on badam, Brazil nut, walnut, pista, and peanuts had not been slashed. Moreover, the incentive was slashed when the Indian cashew industry faced stiff competition in the international markets, the release said.

Ms. Sitharaman told Mr. Premachandran that she was ready for detailed discussions, the release added. — Special Correspondent

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