Import/Export Industry Notifications

The reimbursement of taxes under the RoDTEP such as duty on power charges, VAT on fuel in transportation, farm sector, captive power generation, mandi tax, stamp duty and central excise duty on fuel used in transportation would make Indian products competitive in global markets. It was decided that the sectors and products under the RoDTEP scheme would be notified in a phased manner and the MEIS benefit for those sectors and items will be withdrawn.

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The Directorate General of Foreign Trade (DGFT) has asked nine automakers to submit details of their annual tyre imports. The government continues efforts to squeeze imports from China amid worsening relations between the two countries.

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The Directorate General of Foreign Trade (DGFT) has extended till August 8 the deadline for filing online applications to avail the current month's export quota for PPE medical coveralls for COVID-19. Due to technical/server issues, the ECOM facility for online application on the DGFT website was not available from 7 PM on August 2 to 4 PM on August 5.

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A mammoth explosion' at a Sussex port has sparked a huge blaze - as witnesses miles away from the fire report sightings of plumes of dark smoke. Firefighters rushed to reports of an inferno at a warehouse in Newhaven, East Sussex. The fire was so fierce that the smoke could be seen by people enjoying the sunshine on the beach in Brighton, some ten miles away. Fire crews evacuated the building. No injuries have been reported. People living near the blaze have been urged to keep windows closed. The fire broke out on 'Scorcher Saturday' when temperatures were expected to reach up to 37C.

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Two Indian Companies considered the opportunity and set up plants in Xinjiang and Suzhou Province, but were forced to close down the plant after a few years due to the deliberate restrictive policies by China. China’s foray into the spice extraction and oleoresin industry is giving sleepless nights for the Indian value-added spices industry, which once commanded a dominant position. The first instance of restrictive trade practises by the Chinese is in the ‘Paprika oleoresin’ trade.

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A moderate recovery for sea and road transport is underway, post the easing of lockdown restrictions while air transport remains severely stressed, according to India Ratings and Research (Ind-Ra). India's ports volumes recovered by 80 to 85 per cent of normal levels in June post a sharp 21 to 23 per cent year-on-year drop in volumes during April and May. Imports have been severely hit while exports have recovered to the pre-COVID levels, said Ind-Ra in the first edition of its credit news digest on India's logistics sector.

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In the biggest ever seizure of narcotic drugs in Maharashtra in recent years, the DRI, Mumbai in a joint operation with the customs department busted a major international drug cartel. They seized 191 kilograms (kg) heroin, estimated to be worth around ₹1,000 crores, from Nhava Sheva port in Navi Mumbai on Sunday. Two people have been arrested so far. The consignment had arrived from Afghanistan. The declared cargo was of Mulethi, a traditional herb extensively used in several traditional Ayurveda formulations to treat various conditions.

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Reiterating its demand for quantitative restrictions on edible oil imports, trade body, Soybean Processors Association of India (SOPA) highlighted that without restrictions, unnecessary import of edible oils will continue unbridled and import lobby was holding up the growth of domestic oilseed sector.

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The Director-General of Civil Aviation is reported to have suspended the operations of wide-bodied aircraft at the Calicut International Airport, following the accident of the Air India Express flight, killing 18 passengers on board, including the pilot and the co-pilot. Currently, Saudi Arabian Airlines and Air India are operating wide-bodied aircraft at the airport. Sources in the sector said that the DGCA has given a verbal order in this regard to temporarily withdraw the services of these airlines.

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