Import/Export Industry Notifications

The Commerce Ministry has written to the Finance Ministry to immediately restore duty-free import of export inputs used by the garment, leather, and handicraft sectors. Removal of the duty-free status in the Budget 2021-22 has impacted exports worth Rs 5,000 crore.

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The import of urad (black gram or black matpe) into the country could be hit this year because of the political unrest in Myanmar. But rather than importing urad from other countries, the government must empower farmers to boost the cultivation of urad and help India become ‘Atmanirbhar,’ say Maharashtra farmers who have questioned the government’s import policies that are affecting the farming community.

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As diesel price continues to increase and supply of local raw materials shrinks for processing, it is hurting the seafood export industry in Kerala, which directly and indirectly employs thousands of people and earns around ₹6,500 crore annually exports.

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Shippers strengthen themselves for a fresh attack of freight rate hikes and peak season surcharges (PSS) from April, as ocean carriers reinforce their supply chain dominance across tradelanes.

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FIEO President Sharad Kumar Saraf said that the monthly exports increased marginally by 0.67% to 27.93 billion dollars, mainly due to container deficits across the country and limited supply disruptions in the last week of the month to increasing COVID cases in certain states.

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With global trade touching a new height late in 2020, driven by recovery from the COVID pandemic in some regions and a consumer shift to purchasing products throughout lockdowns, market fundamentals for the sector look good. The subsequent increase in demand for containers and container shipping brought capacity utilization to near-100% on head-haul trades.

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Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, has allowed the closure of Handicrafts and Handlooms Export Corporation of India Limited (HHEC), the Corporation, a Government of India undertaking under the administrative control of the Ministry of Textiles.

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Hapag-Lloyd implements changes to the Terminal handling Tariff in India. These changes will be effective April 15, 2021, and can be found online on the official website.

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CMA CGM group in India (CMA CGM SA, ANL Singapore PTE Ltd., CMA CGM Asia Shipping PTE Ltd) file their GSTR1 return every month. Also, effective 1st January 2021, all three entities are applicable for e-invoicing. Hence, GST's credit on the invoice should be available for credit in the GSTR-2A by the 12th of the subsequent month.

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