Import/Export Industry Notifications

Ajay Sahai, Director General of the Federation of Indian Export Organisations, says that Indian exporters are now experiencing a flurry of foreign orders as global trade picks up. He warns that the international crisis over lack of available shipping containers, lack of liquidity facing MSMEs and differential levels of vaccination in different economies continues to pose a challenge.

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India will not be under pressure at the World Trade Organisation (WTO) to re-consider its import duties on specific Information Communication and Technology (ICT) products. This will include mobile phones for at least another year as the dispute panels for examining complaints made against the taxes by some members have sought more time to submit their reports.

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Indian steel companies may face some problems managing steel exports at current levels during the next financial year. Domestic production will just about meet demand within the country, a top industry official has said.

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Bureau of Indian Standard (BIS), the national standards body, has suggested providing standards and quality-related solutions to developing and least developed countries, which are at the same level of technological advancement and have similar climatic and socio-economic conditions.

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A parliamentary panel has recommended the Department of Commerce to take appropriate measures to check the further deterioration in exports and crucial imports for preventing more disruptions in the supply chains.

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Most traders favoured to wait and watch as the market took a breather after piercing through the long term resistance of 170, the minimum support price for rubber in the state. As per reports, domestic prices are expected to strengthen further since the current rally in the global natural rubber market is mainly driven by China's rising demand.

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With the Union Minister of Commerce & Industry (CIM) doing constant engagements with the plastics industry, which essentially comprise MSMEs, the industry is seeing stabilization in raw materials prices (particularly PVC Resin) in March 2021. The Plastics Export Promotion Council (PLEXCONCIL), the apex trade body of plastics exporters, has stated that plastics’ exports have grown in January 2021 (up 12.2% vis-à-vis January 2020) and February 2021 (up 3.2% vis-à-vis February 2020 on a provisional basis).

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On Wednesday, a trade body said that Indian mills have undertaken to export 4.3 million tonnes of sugar so far in the 2020/21 season-ending on Sept. 30, as a rally in global prices to a four-year high and an export subsidy makes overseas sales lucrative.

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MSME support and development organization National Small Industries Corporation (NSIC) will help micro, small and medium enterprises working with the Agricultural and Processed Food Products Export Development Authority (APEDA) over multiple areas. NSIC, through an MoU with APEDA, will help its MSME members in the export potential of their agricultural and processed foods products.

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