Import/Export Industry Notifications

JNPT on Saturday said it has planned to sail out all the vessels at berth by 11.00 pm on May 15, while all inward shipping movements will remain suspended till easing of weather conditions as part of various mitigating following a cyclone warning.

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Merchandise exports mounted a record 196% year-on-year in April, driven mainly by a good base, as the country had witnessed a Covid-induced lockdown throughout April last year. However, what comes as a pleasant surprise is that even in absolute terms, exports in April stood at $30.6 billion, up almost 18% from the same month in 2019 (before the pandemic struck).

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With Cyclone Tauktae fast approaching the Gujarat coast, Minister of State for Ports, Shipping, and Waterways Mansukh Mandaviya on Sunday reviewed the preparedness of ports and maritime boards of all states along with India''s western coast.

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On Friday, Anup Wadhawan, Commerce Secretary, said that India could achieve a $400 billion export target in FY22 as the recovery in the country's exports is broad-based and substantial. India's exports in April jumped nearly three-fold to $30.63 billion while imports rose to $45.72 billion, official data showed.

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Sharp development in exports throughout sectors, notably within gems and jewelry, engineering items, and petroleum merchandise, resulted in a steep improvement of 195.72% in India’s exports efficiency in April 2021 to $30.63 billion in comparison with April 2020. Exports had plunged in April 2020 because of a halt in manufacturing actions through the Covid-induced lockdown, per fast estimates launched by the Commerce Ministry.

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Deendayal Port Trust handled 10.452 mt in April from 8.674 mt last year, a growth of 20.%. Mumbai Port Trust handled 4.67 mt (4.08 mt), with an increase of 14.41%. Visakhapatnam Port Trust handled 5.57 mt (5 mt), posting a growth of 11.2%.

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The Mahratta Chamber of Commerce Industries and Agriculture (MCCIA), in association with the National Bank for Agriculture and Rural Development (NABARD), will launch India’s first and unique Agriculture Export Facilitation Centre on 15th May 2021. This Facilitation Centre will work as a one-stop-shop for the exporters in the agricultural sector.

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To ensure liquidity for exporters in the challenging period of the Covid pandemic, the government has decided to credit all customs refunds and duty drawback claims made by them up to May 14, by the end of the month. The Central Board of Indirect Taxes and Customs (CBIC) has launched a special refund and duty drawback between May 15 and May 31.

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A senior trade official said on Friday that the government might finally notify the refund rates for taxes paid on exported goods by the end of this month. Almost five months since the introduction of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme with the delay affecting exporters’ pricing strategies.

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