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Measures to facilitate trade during the lockdown period- Section 143AA of the Customs Act, 1962- reg.

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The Center examines options such as putting a cap on the refund amount for individual exporters and limiting the number of items eligible for refunds to stay within the limited budget sanctioned.

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India’s imports from China held steady at the previous year’s level, and exports soared. China also emerged as India’s largest trade partner as the value of transactions between the US and India fell.

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Union Commerce and Industry Minister Shri Piyush Goyal and Senior Officers of the Department of Commerce and Directorate General of Foreign Trade (DGFT) on 11th May 2021 held a meeting with the Export Promotion Councils to discuss various issues concerning international trade.

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In the wake of an acute shortage of tinplate/tin-free steel material, which is primarily used to manufacture cans and containers to pack processed food and fruits, the processed food packaging industry feels a pinch.

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The holding up of imported edible oil consignments in Indian ports for nearly two weeks has led to the drying up of the supply pipeline temporarily, and steps are being taken to release them at the earliest.

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India’s recent import barriers have come under scrutiny at the World Trade Organization, with several trading partners raising concerns over the checks placed by the government as part of its policy to encourage domestic production.

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Shipments of products monitored by the Agricultural and Processed Foods Exports Development Authority (Apeda) grew 25% in dollar terms to a six-year high of $19.96 billion against $15.97 billion in the previous year. In rupee terms, the exports were up 29% at ₹1.47-lakh crore (₹1.14-lakh crore)

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Building upon lower domestic cotton prices, Indian exporters have so far shipped over 75% of the 65 lakh bales (each of 170 kg) of cotton exports projected for the whole year 2020-21.

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