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China has stepped up trade diplomacy with two of New Delhi’s traditionally close allies — Dhaka and Kathmandu as it clashes with India on the border. China is wooing them through greater trade concessions. China is also reportedly planning to lay a strategic railway network connecting Kathmandu and Shigatse in Tibet. It has also offered Nepal four ports for the supply of goods to reduce reliance on India.

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Maersk Line will introduce a $500 fee for special and out-of-gauge cargo if the actual dimensions of the cargo differ from booking details. This is an effort towards cracking down on mis-declared cargo. Maersk has warned shippers that, from 1 July, even if the actual sizes differ from booked dimensions by as little as a few centimetres, the fee will be applied. The fee is not added as a penalty but is introduced to cover all additional administrative efforts caused by these mis-declarations.

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The government plans to tighten the regulatory measures around pharmaceuticals imports from China. There will be stricter scrutiny of active pharmaceutical ingredients (APIs), key starting materials (KSM) for medicines and medical equipment. Higher duties on Chinese products may also be on the cards. These moves gathered pace in the wake of the military face-off between India and China in east Ladakh and the continuing diplomatic tension. India imports more than 53 critical pharma APIs, including those used in tuberculosis medicines, steroids and vitamins from China.

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India is looking to plug loopholes as it seeks to reduce import dependence on China. The routing of Chinese goods to India through their common trade partners, inversion in duty structures and the exploitation of ambiguities in origin rules have come under the government’s scanner. The GOI is putting together details of the installed capacities of local industry for goods that India trades under free trade and bilateral agreements, and products which face issues related to inverted duty structures.

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The government has invited global vessel owners to flag their ships in India to take advantage of the “Make in India” policy. The government has recently revised this policy for public procurement. Under this, no global tender enquiry will be issued, except with the approval of the competent authority to procure services with estimated value of less than Rs 200 crore. It is estimated that this policy will provide an opportunity to at least double the number of Indian flag vessels in the immediate term.

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The first deadly face-off between Indian and Chinese troops in more than four decades has created a stir among the companies. It adds another layer of uncertainty to companies already reeling from the coronavirus pandemic on both sides of the border.

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In a novel initiative, turmeric is being transported by rail from Nizamabad in Telangana to Bangladesh. The freight train loaded 2,474 tonnes of turmeric in 42 wagons and set off to Benapole. Traditionally, it was transported by road to Bangladesh, which was a time-consuming and expensive process. More freight customers are showing interest in increasing the transportation of goods such as essentials and agricultural goods from Nizamabad to Bangladesh.

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India has questioned the rationale of joint statements issued by some countries at the World Trade Organization. The nation is pushing for the greater opening of markets for agricultural products. It has argued that for developing countries, export restrictions are a tool to prevent domestic shortages and are essential. Hence, India is against easing farm export tariffs amid COVID-19 crisis.

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The Centre will soon introduce a policy to link cargo handlers with land available with the Syama Prasad Mookerjee Port Trust (SPMPT) for industrial purposes through a reverse auction. This was announced at a webinar by Mansukh Mandaviya, minister of state for shipping and chemicals and fertilisers.

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