Import/Export Industry Notifications

Spices exports during 2019-20 have reached the milestone of $3 billion. The Rs 20-lakh crore relief package is generally appreciated across sectors. The spice industry is expected to benefit from the package announced for the MSME units as well as from the package for the agriculture sector. Sub-components like ‘formalisation & global outreach of micro food enterprises’, ‘farm-gate infrastructure development’ and ‘promotion of herbal cultivation’ are beneficial to the sector.

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After 23 days of accepting Indian imports, but unable to export anything to the country, disgruntled Bangladeshi traders have now stopped the entry of Indian goods via the Petrapole-Benapole border. According to sources, disruptions on the Bangladeshi side of the border emerged after some exporters protested that the West Bengal government had not developed the standard operating procedures (SOPs) for the resumption of Bangladeshi imports.

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China’s assertion that India’s ban on Chinese mobile applications is “selective and discriminatory” is completely misplaced. India also has a long list of Beijing’s restrictive trade and investment practices. Some of them are the imposition of internet censorship through ‘Great firewall’, restrictions on long-term visa and non-tariff barriers on investments.

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With the easing of lockdown regulations, banana growers from Ardhapur in Maharashtra have started getting demands for export of the fruit to the Gulf countries. The state agriculture department is also guiding farmers from the area to export bananas and other crops. The Ardhapur area and other parts of Nanded have been known for banana cultivation because of the availability of water in the area. Nearly 40 tonnes of bananas are now being exported every day from Ardhapur to Oman, Iran, Iraq and Dubai.

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The ongoing trade war between India and China has cast a shadow on the burgeoning textile sector of the country. The exporters are worried about their stuck payment. As India stares at bumper cotton stocks, exporters are asking for urgent steps like exporting subsidies to help them offload their stocks. With the stoppage of imports from Bangladesh at the land ports, Indian exporters fear this would affect their prospects to one of the biggest markets of Indian cotton.

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Exporters' body FIEO demanded fast resolution of issues related to 'risky exporters' and immediate release of their refunds to help them tide over the problems arising due to COVID-19 pandemic. The Federation of Indian Export Organisations (FIEO) said that during the current crisis, exporters are already facing problems and the matter of risky exporters is further adding to their woes. An exporter is tagged as risky if the customs department suspects that duty drawback claims and IGST refunds are on the basis of bogus invoices. The consignments of risky exporters undergo manual checking before their claims are refunded.

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Hapag Lloyd has issued a notice to their customers informing that the Maritime Employer’s Association in the Port of Montreal has received a strike notice starting on Thursday, July 2 at 3 p.m. and ending on Saturday, July 4 at 6:59 a.m. As a result of this strike notice, the two Terminals operated by MGT (Racine and Cast) will cease operations during these two days. The strike will last 40 hours.

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Hapag Lloyd has issued a notice to their customers informing about the Currency Adjustment Factor (CAF) application from/to the Middle East, Indian Subcontinent and Africa. According to this, the FAK base rates as well as Security-related surcharges; Peak Season surcharges (if applicable) and Terminal Handling Charges (THCs) remain unchanged. Other local charges and contingency surcharges may apply.

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India's trade pushback against China amid a border standoff threatens to disrupt the world's biggest generics-exporting industry during the pandemic. Shipments of active pharma ingredients, or raw materials for drugs, and key starting materials that go into making APIs are stuck at ports as customs authorities have delayed clearance. The disruption is so acute that the Pharmaceuticals Export Promotion Council of India wrote to several departments, including the Finance Ministry and the Prime Minister’s Office, seeking an intervention. They are yet to get clarity.

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