Import/Export Industry Notifications

Even though Reserve Bank of India’s lower interest rate regime is intended to support industry growth facing a liquidity crisis, banks are still not fully transmitting the benefits of the rates to exporters and end-customers at large, exporters say.

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On Tuesday, Transporters body AIMTC said that it fears disruptions in services due to several states' restrictions, including Maharashtra and Delhi, due to a surge in coronavirus cases and demanded hassle-free goods movement.

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Washington state apple industry officials have stated that the fruit’s exports had dropped extensively compared to recent years’ figures. The state exported 18.8 million 40-pound (about 18 kilograms) boxes of apples from the 2020-21 crop as of last week, which is down 20.5% from this time last year and down 16.4% compared to the 2018-19 shipping season.

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In December, news reports indicated that the ministry of new and renewable energy had suggested a 20% basic customs duty (BCD) on the solar module and cell imports. Fast forward three months that has gone up to a proposed duty of 40% on solar photo-voltaic (PV) modules and 25% on solar photo-voltaic cells from April 2022.

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As per a report, Indian exporters and processors have written to the Directorate of Revenue Intelligence (DRI) alleging that Chinese nationals were carrying out illegal human hair trade by under-invoicing hair and smuggling it from Hyderabad to China via Myanmar.

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The government has notified verification regulations named Customs (Verification of Identity and Compliance) Regulations, 2021, for new importers, exporters, and customs brokers.

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The RoDTEP scheme has, from January 1, replaced the Merchandise Exports from India Scheme (MEIS). It was successfully challenged by the US at the WTO on ground of being inconsistent with global trade norms.

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Change of office address of Regional Authority, Ahmedabad.

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Exports of farm products monitored by the Agriculture and Processed Foods Development Authority (Apeda) advanced by a fifth to top $17.5 billion amidst the April-February period of the last fiscal compared with $14.5 billion in the same period the previous fiscal. The export growth is caused by the supply disruptions caused by Covid-induced lockdown.

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