Import/Export Industry Notifications

On Thursday, the Agricultural and Processed Food Products Export Development Authority (APEDA), in collaboration with the India embassy and the importer LuLu group, organised a mango promotion programme in Dubai for varieties from northern India.

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Merchandise exports shrugged off the Covid impact to surge by 48% in June from a year before, while imports staged a smart rebound with a 98% jump, signalling a recovery in both external and internal demands even though the growth was aided by favourable base effect.

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An increase in global freight charges has made booking charges of shipping containers from India to the US and Europe at least four times more expensive than last year.

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On Wednesday, the Union Cabinet approved a scheme to provide Rs 1,624 crore over five years as a subsidy to Indian shipping companies in global tenders floated by ministries and CPSEs for the import of government cargo, an official statement said.

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With the shortage of domestic edible oil pushing up the need to raise imports quickly, the Indian Customs has put up special motoring and import clearances procedures for the commodity to reduce the clearance time for such consignments to about 3-4 days.

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The government on Wednesday decided to extend the RoSCTL scheme for providing a rebate on central and state taxes to garment exporters on their outward shipments till March 2024.

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The Chittagong Port Authority (CPA) has approved plying of four new feeder vessels in the Chittagong-Colombo route to lessen the mounting export cargo backlog at the inland container depots (ICDs).

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Exclusive data from maritime intelligence service eeSea shows the world’s most congested box spots, ranking all ports by the sum of mainline vessels either in port or waiting.

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On Tuesday, the Finance Ministry said that the Centre continues to toughen the noose around GST evaders through its crackdown on fake invoices slowed down in recent months due to the COVID-19 resurgence.

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