Import/Export Industry Notifications

The centre will consider restarting the agri-exports slowly. The issues related to port, ocean freight services, courier services and movement will be considered for necessary resolution. Food processing industry, spices and cashew nuts sectors may be allowed with 25-30% staff strength during the lockdown period.

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Gujarat’s cotton yarn exporters are not able to receive money from their buyers as they are not able to send Bill of Lading (BoL) to neither foreign banks nor their importers in foreign countries. Nearly Rs 1,000 crore payments have been stranded due to closure of all courier services in wake of the COVID-19 outbreak.

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There is a spike in the global demand for Basmati rice this year due to the COVID-19 pandemic and the festival of Ramadan. The Basmati rice export might set a record of shipments in FY20 as it is expected to amount to 4.4 million tonnes even as consignments were stranded at ports and foreign destination since last week of March. The rise in demand from the Middle East is also bolstered by higher buying for Ramadan.

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India imports 9 million tonnes of palm oil in a year. Going forward, restriction on the import of palm oil has been imposed by the DGFT. Only licensed importers or people with permission to import can go ahead and import the oil. India put the commodity from free to the restricted category in the backdrop of remarks by Malaysia on the new citizenship law and Kashmir issue.

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The paperless customs will help contain the spread of COVID-19 by reducing interface or contact with authorities. Besides reducing costs, the movement of goods out of customs areas after checks become easy. Allowing importers and customs brokers to give electronic out of charge copies of the bill of entry and gate pass, has made customs clearance convenient.

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The entities that paid goods and services tax (GST) on advances for events or bookings that got cancelled can claim refunds according to the CBIC. This step is taken as a relief measure towards the tourism, hospitality and entertainment sectors, which are facing business loss due to the nation-wide lockdown.

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China is at the risk of losing businesses in many countries due to the outbreak of COVID-19. India can become a choice for cost-efficient, quality products. There are countries like Japan who want to divert their investments in China. The Indian Government will look at a measured approach to open up industries and ensure hygiene and social distancing with utmost priority.

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Micro, small and medium enterprises (MSMEs) across the country seek financial support from the government as these firms may not be able to run even if they manage to re-open. The Confederation of Indian Industry (CII) has recommended helping MSME with funds with relaxed collateral norms.

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India has started exporting all major products like rice, groundnut, processed food, meat, poultry, dairy and organic products. The government stepped in to resolve the issues related to transportation and packaging in the wake of COVID-19 lockdown.

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