Import/Export Industry Notifications

India has introduced changes in the process and levy of anti-dumping duties, safeguard duties, and countervailing duties to protect the industry from cheap imports. As per the budget for FY22, with effect from July 1, the final findings in reviewing anti-dumping and countervailing duty are to be issued at least three months before the duty expiry.

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More so in Anantapur and Kadapa, enterprises of the state are adopting modern methods like certified tissue culture plant materials, fruit-care activity, and drip integration with fertigation that led to the spurt in quality and quantity of the banana plantations. With the increase in its extent of cultivation from 79,360 hectares in 2014-15 to 104,000 hectares by 2019-20, banana export from Andhra Pradesh also has increased exponentially.

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Under the Aatmanirbhar Bharat initiative, India achieved impressive growth in cereals exports in the 1st three quarters of 2020-21, despite challenges posed by the COVID19 pandemic. Cereals exports grew by close to 53% to Rs 49,832 crore in Apr-Dec 2020-21, compared to a year-ago period. The 1stProduct Committee meeting for Floriculture, Seeds, and Cereals was held on 3rd February 2021 and was Chaired by Dr. M. Angamuthu, Chairman, APEDA.

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In an attempt to move temperature-sensitive cargo, particularly pharmaceutical products, amid the Covid-19 crisis, KIA, Kempegowda International Airport, has come up with a new cold-chain air cargo solution.

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Global competition for the ribbed steel containers means that Thailand can't ship its rice, Canada is stuck with peas, and India can't offload its mountain of sugar. Shipping empty boxes back to China have become so lucrative that even some American soybean shippers have to fight for containers to supply hungry Asian buyers.

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Continuing on its growth trend January exports further moved northward towards positive territory with revival of both global and Indian economy as expected. FIEO President also reiterated that the government must address some of the key issues including release of the required funds for RoDTEP, MEIS and clarity on SEIS benefits

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California’s request for the Federal Maritime Commission to take immediate action on export delays shows political pressure is mounting to deal with Southern California port congestion that began over the summer.

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As per Container xChange, a rush to get containers back to Asia to decrease shortages at key export ports has now left the Port of Los Angeles with its own scarcity. Adding to the Port of Los Angeles’ woes of congestion, Covid outbreaks, and labour issues, the US gateway port has seen acute excess of boxes change to a shortage in just seven weeks.

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The Reserve Bank of India (the "RBI") has introduced the Foreign Exchange Management (Export of Goods and Services) (Amendment) Regulations, 2021 (the "Amendment Regulations") through a notification1 dated January 08, 2021, and amended the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015 (the "Principal Regulations"). The RBI aims to introduce certain exemptions related to the aviation sector through the Amendment Regulations by substituting the erstwhile Regulation 4(ea) of the Principal Regulations.

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