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India’s new tax regime hits Nepal exports

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GST

Nepals exports to India has been adversely affected after the Indian government enforced the Goods and Services Tax (GST) this year, a media report said.

The GST is an indirect tax introduced in India on July 1 to make it one unified common market. It is a single tax on the supply of goods and services, right from the manufacturer to the consumer.

Export of major export items to India which were enjoying zero duty or nominal tariff earlier dropped significantly, according to a Nepal Rastra Bank report.

Export of juice, jute products, vegetables and fruits, processed food like biscuits and noodles and cardamom, among others, plunged heavily, the Himalayan Times reported.

Export of juice, which was a major export item to India in the previous years, plunged by 57 per cent in the first two months of current fiscal as compared to corresponding period of the previous fiscal year.

Nepal exported juice products worth Rs 344 million in first two months of the ongoing fiscal as compared to Rs 800 million in same period of previous fiscal, the report said.

Export of juice products to India was on the rise since last several years as the Indian multinational Dabur Nepal was the largest exporter of juice to India.

As per the central bank’s data, export of juice had surged by 50 per cent in the first two months of fiscal 2016-17 compared to the corresponding period of fiscal 2015-16.

The major reason behind the significant decline in export of juice was increased tariff to export to the Indian market.

According to exporters, they had to pay 12 per cent integrated goods and services tax (IGST) to export juice to India, compared to 6.18 per cent in the pre-GST regime.

They said the Indian market now has become 5.82 per cent costlier for juice exporters post GST implementation.

Likewise, export of large cardamom plunged by 45.3 per cent, fruits (85.9 per cent), vegetables (39 per cent), noodles (34 per cent) and jute goods (2.3 per cent) in the first two months of this fiscal as compared to the corresponding period of last fiscal.

There were high tariff differences in post- and pre-GST period in vegetables, processed food and other agriculture products, according to the bank report.

Shekhar Golchha, senior vice president of the Federation of Nepalese Chambers of Commerce and Industry, said Nepali goods have become less competitive in Indian market as they have to pay high duty in post-GST period.

“Nepali exporters should diversify their market in short-term and be competitive in longer-term to tap the huge market opportunity in India,” he said.(IANS)

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Fast Food Outlets Get Most Orders From Swiggy

Fast food outlets corner bulk of orders on Swiggy

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swiggy fast food
Burgers are one of the most ordered dishes on Swiggy Food delivering app. Pexel

Although biryani is the most popular dish in India, Indians are far from cutting down on fast foods, suggest new data from online food delivery platform Swiggy, which is completing five years this week.

Higher intake of fast food is often linked to rise in obesity.

Subway, Domino’s Pizza, McDonald’s and Burger King clocked the highest number of orders in five years, said Swiggy, which has entered over 290 cities since launch in 2014.

Swiggy revealed the biryani order rate stood at 43 per minute, followed by dosa and burgers in the list of most ordered dishes on Swiggy. Among desserts, gulab jamun topped the order chart with rasmali at a distant second.

swiggy food delivery app
Fast food is most popular among Swiggy customers. IANS

The data also revealed a surprise and showed coffee, not tea, was the go-to drink for most Swiggy clients.

The demand for vegetarian foods is also on the rise with most cities having close to double vegetarian orders over non-vegetarian items, according to the data with “pure veg” being the most popular filter on the app.

Also Read: Louisiana to Dispense Therapeutic Cannabis

Swiggy claimed to have over 2 lakh delivery partners with women executives alone delivering over 2.5 lakh orders in the past five years.

A Bengaluru man, who placed 17,962 orders with Swiggy, has emerged as the platform’s most loyal customer. (IANS)