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Maize (corn) exports from India are expected to go on until May, with global supplies that are predicted to be tight this year and demand continuing from Malaysia and Vietnam.

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India’s farm subsidy policies came under the radar at the World Trade Organization (WTO) amid the country’s trade policy review (TPR).  Members such as Canada, the US, and Australia complained that India had not declared its agricultural export subsidies for more than eight years, while Brazil held that India’s longstanding support measures for sugar had suppressed global prices by up to 25%.

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In mid-February, the French company imposed extra charges for worldwide cargo bound to and from Kenya, which saw importers paying $150 per 20-foot container and $300 per 40-foot container. Shipping giant CMA CGM has been forced to withdraw an emergency port congestion surcharge in Kenya following protests by the government, manufacturers, and importers.

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Government-owned Indian Railways has moved empty boxes to inland depots like Delhi from seaports for free. South Korea has deployed an extra nine vessels on the Trans-Pacific route to help local manufacturers. In contrast, China’s state-owned shipyard, Cosco Shipping Heavy Industry, has converted at least one freshly built paper-and-pulp carrier to transport the containers.

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Requirement of HSN Code for Goods and Services Tax is mandatory w.e.f April 01, 2021.

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In October of 2020, the Directorate General of Foreign Trade (DGFT) issued a notification under which import of Air conditioners with refrigerants was prohibited. In a development that bore wells for the Indian government's Atmanirbhar Bharat policy that aims at self-sufficiency, the country has seen a reduction of 65% split AC or air conditioners being imported. The policy that has been put in place calls for ACs that use local refrigerants.

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On Monday, the Finance Ministry further decreased the threshold for mandatory e-invoicing to ₹50 crores, from ₹100 crores. The new rule will come into effect from April 1, according to a Central Board of Indirect Taxes and Customs (CBIC) notification.

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The Budget sprang a surprise by imposing on imported cotton a five per cent basic customs duty plus a five per cent Agriculture Infrastructure Development Cess. Social Welfare Cess's pre-existing 10 percentage point continues, taking the aggregate duty burden to 11% ad valorem on cotton. The sudden impost of customs duty on imported cotton has left the stakeholders in the cotton industry shocked.

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Seamless transport connectivity between India and Bangladesh has the potential to increase national income by as much as 17 percent in Bangladesh and 8 percent in India, according to a new World Bank report.

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