Import/Export Industry Notifications

Container Corporation of India Ltd recommences to contribute towards further improving logistic sector to boost Export with Indian Railways; Moves full Export Rake, from ICD Nagpur to Nhava Sheva, with 90 containers loaded with Transmission Towers of KEC International, A RPG Enterprises Company, for a project in Afghanistan, flagged off by Dr. Balbir Singh, Principal Commissioner CGST.

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The finance ministry on Wednesday has extended the exemption from basic customs duty and Integrated Goods and Service Tax (GST) enjoyed by export-oriented units (EOUs) by another year, said an official order.

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India and Mauritius signed the Comprehensive Economic Cooperation and Partnership Agreement (CECPA), a kind of free trade pact, on February 22. Many Indian products will enjoy the benefit of greater market access at concessional duties in Mauritius as the free trade agreement signed between the two countries will come into effect from April 1.

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On Wednesday, the Union Cabinet approved the final contours of a Rs 10,900 crore Production-Linked Incentive (PLI) scheme for the food processing sector in the country, months after the initiative was first announced. The PLI aims to incentivize domestic players and make the industry globally competitive with the production of high-value, export-oriented items.

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The week-long Suez blockage aggravated already stretched container supply chains. Amid the Ever Given fallout, Asian shippers should expect a chronic container shortage, extended booking delays, and more cargo rollovers at key transhipment hubs.

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India has been hiking import duties on the pretext of nurturing domestic manufacturing—but heightened protectionism is hurting India’s MSME sector.

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Jawaharlal Nehru Port Trust (JNPT) opened a new Inter Terminal Route (ITR) on Sunday, linking the PSA International-run Bharat Mumbai Container Terminals (BMCT) with the other four container terminals at the state-run port.

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Since Tuesday, the Evergreen-operated boxship has been halting global trade when it veered to starboard and became wedged in the Suez Canal's eastern bank, a sea lane that carries 12% of all global trade. Day six of the Suez blockage and some glimmer of hope that the giant 199,629 dwt Ever Given containership could shift from its precarious position, aground straddling the Suez Canal.

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India has imposed anti-dumping duty on Chinese bottle-grade PET (polyethylene terephthalate) resin. It is used to make bottles and jars for mineral water, carbonated soft drinks, and pharmaceutical products, among other goods, to offset the damage to the domestic industry.

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