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Union Minister for Commerce and Industry, Piyush Goyal, on 19th April 2021, launched the Startup India Seed Fund Scheme (SISFS). The Fund aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.

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The government is working on a system to soon provide a report to GST officers on a real-time basis for those vehicles moving without e-way bills to help intercept stuck trucks at toll plazas and check GST evasion.

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The rupee has slumped 2.5% against the dollar so far in April after falling 0.1% in the quarter ended March. The rupee weakened past 75 per dollar for the first time in eight months this week. Federal Bank Ltd. expects it to fall further to 76 by year-end.

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When Europe gets cold, Tamil Nadu sneezes. The aphorism has been proved again as countries like Germany, France, and Britain announced a lockdown due to the Covid-19 pandemic leaving nearly one thousand knitwear units in Tirupur gasping for breath.

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Fearing a possible flight of migrant labourers in the wake of the second wave of the Covid-19 pandemic, exporters at some of the key hubs have started urging their workers to refrain from leaving the factories this time around just when order flows are improving.

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Users are requested to avoid using the online duty payment feature and use the “Advance Duty Payment” module or TR 6 Challans in order to prevent difficulties. If any transactions are already initiated for online duty payment, but duty payment has failed, the user may send the details to sezinfo@nsdl.co.in, and the transaction will be enabled for payment using TR6.

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Non-tariff measures (SPS and TBT) issues being faced by the exporters to be raised in the forthcoming WTO SPS/TBT committee meetings. Inputs are requested to be sent to the council by 25th April 2021 via email.

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The reversal in coffee price trend has left growers bothered in key producing states such as Karnataka and Kerala as they complete the harvest and gear up to start operations such as pruning and maturing for the next season.

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A new analysis from Danish consultancy Sea-Intelligence shows just how much North America is to blame for the critical equipment imbalances challenging the global container shipping industry. Sea-Intelligence warned in its latest weekly report that the structural supply chain imbalances related to empty containers are not approaching normalisation.

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