Import/Export Industry Notifications

According to a media report on Thursday, the Pakistan government has decided to withdraw customs duty on imported cotton yarns till June to ensure a smooth supply to the country's struggling textile industry.

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The commerce and industry ministry has convened a meeting of exporters on April 20 to discuss the export situation against the backdrop of surging coronavirus cases and healthy growth in overseas shipments in recent months.

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On Friday, Hyundai Motor India (HMIL), the wholly-owned subsidiary of South Korean-based Hyundai Motor Company (HMC), claimed that it had exported 1,04 342 units of passenger vehicles from India between April 2020 and March 2021, continuing its journey as the Number One automobile brand to export from the country.

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Dubai’s DP World, which is one of the world’s largest port operators, is looking for $210.2 million in damages from Djibouti’s government in an ongoing legal battle over port concession rights, documents related to the dispute.

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The union had suspended activities at the terminal on Thursday over an alleged breach of local content laws by management. The Maritime Workers Union of Nigeria (MWUN) has suspended the APM Terminals' shutdown, Apapa.

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The insufficiency of coal and a dwindling market affected more than 120 coking coal factories of Dhanbad, Giridih and Ramgarh in the last few years. Australian coal, besides being good quality, is also available at comparatively cheaper rates compared with the locally available coal provided by different Coal India subsidiaries like Bharat Coking Coal Limited  (BCCL); Eastern Coalfields Limited (ECL) and Central Coalfields Limited (CCL).

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Afghanistan and Indonesia account for 48% of sugar exports from India, according to figures from the Indian Sugar Mills Association (ISMA). Being the largest importer of Indian sugar, Indonesia has imported about 11.5 lakh tonnes during the period of October-March. Afghanistan has imported 4.7 lakh tonnes from India.

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The transport sector is facing losses of around Rs 315 crore every day because of coronavirus restrictions in the country. The chairman-core committee and former president of All India Motor Transport Congress (AIMTC) Bal Malkit Singh said that restrictions by the state government have started affecting the transport sector.

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According to a senior official, Russian bank Sber is ready to become a competence centre for exporters from Russia and India. PJSC Sberbank is Russia''s largest bank and has been operating in India for more than ten years.

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