Chennai: India allowed exports of specified quantities of river sand and stone aggregates to the Maldives under a bilateral trade agreement.
“Export of the quantities of river sand and stone aggregates with the annual ceiling…has been permitted for export to the Maldives under a bilateral trade agreement between India and Maldives,” directorate general of foreign trade (DGFT) said in a notification.
For 2019-20, the ceiling fixed for river sand and stone aggregates was two lakh tonnes and eight lakh tonnes respectively.
It said the export is subject to a no-objection from Chemical and Allied Export Promotion Council of India (CAPEXIL), which would monitor the ceiling and send a quarterly report to the directorate.
The council would also ensure that the suppliers/extractors have obtained appropriate clearances and mining of sand is not undertaken in the coastal regulation zone area.
The bilateral trade between India and the Maldives have increased to $222.7 million in 2017-18 from $206.7 million in 2017-18.