Import/Export Industry Notifications

Paradip is the latest port to be opened up for rice shipments after the deep-water port in Kakinada recently. For the first time, rice will be exported from Paradip port in Odisha.

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Manufacturing activity in April improved a tad as new export orders rose at the fastest pace since October, canceling out the impact of new domestic factory orders and output falling to eight-month lows.

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Indian exporters expect constant growth in the country’s outbound shipments despite an increase in COVID-19 cases as their order books are encouraging, and there is a pick up in demand in affluent markets.

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Railways will now provide for the collection of freight and all kinds of ancillary charges through all modes like Net Banking/RTGS/NEFT, Credit card/Debit card/UPI through customer’s Dash Board.

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Partial modification of Public Notice No. 93/2020 dated 29.07.2020. 2.4 In case of amalgamation/merger of Banks, the modified annexure A (attached with this PN) needs to be submitted by the exporter of their current bank & no separate NOC is required from the previous bank.

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Already affected by difficulties in production and export fronts, the Indian seafood sector fears further setbacks due to the proposed retaliatory tariff by the US and the impending freight rate hike.

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On Monday, the Trade Promotion Council of India (TPCI) said that healthy export growth in labor-intensive sectors such as jute, carpet, handicrafts, and leather indicates that demand is picking up in the western markets.

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The Chinese Ministry of Finance and the State Administration of Taxation (customs tariff commission) declared a total abolition of export rebates (13% on VAT) with effect from May 1, 2021, on 146 steel items.

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On Monday, UK Prime Minister Boris Johnson announced new UK-India trade and investment worth £1 billion, including an investment of £240 million by the Serum Institute of India (SII) for its vaccine business in Britain, ahead of a virtual summit with his Indian counterpart Narendra Modi.

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