The Indian Press Trust reported on November 4 that the Indian government may also give incentives for rice imports within a year.
According to the news agency, a ministerial panel, headed by India’s Finance Minister Pranab Mukherjee, will consider various proposals to import rice.
The worst monsoon in four decades caused a sharp decline in the output of rice sown in summertime, which has raised the prospects of higher food prices and a further dependence on imports to satisfy domestic demand.
To help cover a projected fall of about 15 million tonnes in this crop, the Indian federal government last month allowed rice to be imported tax-free and asked three state-owned firms to import 30,000 tonnes of rice by mid-December.