Import/Export Industry Notifications

To crack down on soaring pulses prices, the Government on Friday imposed stock limits on wholesalers, retailers, millers and importers with immediate effect under the Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2021, an official statement said.

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The excellent quantity of gross financial institution credit score by Indian airports has doubled to ₹9,464 crores as of Might 2021 compared with ₹4,519 crores final 12 months, based on information put out by the Reserve Financial institution of India.

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A doubling of detention and demurrage charges (D&D) during the pandemic has resulted in complaints across the US, Europe and Asia. Some shippers claim they have been charged thousands of dollars without really knowing why.

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Implementation of the Sea Cargo Manifest and Transhipment Regulations-reg.

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The privately-owned Inland Containers Depots (ICDs) in Bangladesh are choked up with export laden containers amid congestions at transhipment ports and berthing delay at Chittagong port, which is hampering operations at their yards.

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Under the freight smart cities initiative, city-level logistics committees would be formed, and they will have related government departments and agencies at the local and state levels. The commerce ministry on Friday said it unveiled plans for smart freight cities to improve urban freight efficiency and create an opportunity for a reduction in logistics costs.

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The government will probably increase the allocation for its flagship export tax refund scheme — Remission of Duties and Taxes on Exported Products (RoDTEP) — by a third this fiscal, among apprehensions the current budgetary outlay of Rs 13,000 crore will fall way short of the amount required to implement the GK Pillai panel recommendations. The allocation for RoDTEP may be raised by about Rs 4,000 crore; sources told FE.

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As per the revised text of the Letter of Exchange, all authorised private container train operators (Indian as well as Nepali) will be able to utilise the Indian railway network to carry freight containers for Nepal’s imports or exports, ending the monopoly of the Indian government-owned Container Corporation of India (CONCOR).

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About 55% of the container fleet is currently sitting in various ports or on water, as against an expected average of approximately 30%, leading to less availability of containers globally and troubling exporters, including those in India, according to the Container Shipping Lines Association (India) (CSLA).

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