Import/Export Industry Notifications

Workers at the strategic Colombo Port have stopped work in protest against the privatisation of its Eastern Container Terminal, demanding a written pledge from Sri Lankan President Gotabaya Rajapaksa that it would not be privatised by giving it to India. The move comes after the workers last month threatened to go on an indefinite strike to protest against what they called "Indian pressure" to prevent Sri Lanka from developing a deep-sea container terminal of the country's largest and busiest port.

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The Central Board of Indirect Taxes and Customs (CBIC) notified the e-invoicing system for businesses with turnover above Rs 500 crore. This will come as a relief to small businesses as earlier the turnover threshold for mandatory issuing of electronic was Rs 100 crore. In its notification, the indirect tax department said that units in Special Economic Zones (SEZs) are not required to follow e-invoicing rules.

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SOPA's quota proposal gets strong objections from SEA. India's rising edible oil imports has left the domestic industry in splits as two of the prominent trade bodies came face-to-face on quota suggestions.

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FedEx pilots have called on the express company to suspend services to Hong Kong as a result of unacceptable risks related to the Covid-19 outbreak. The Air Line Pilots Association, Int’l (ALPA) has passed a resolution calling on their company to suspend operations in Hong Kong after pilots were forced into hospitals and government camps as a result of Covid-19. The union claimed that three Covid-19 positive asymptomatic FedEx pilots have been forced into mandated hospital facilities for up to 10 days in Hong Kong.

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Commerce and industry minister, Piyush Goyal said the key incentive scheme for exports Merchandise Export from India Scheme (MEIS) is not going anywhere and that it is a cash flow issue for which the government will find a solution that does not impact exports. The Govt. is in dialogue with the requisite authorities.

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The Tamil Nadu government announced the extension of general lockdown till August 31. Interstate and intrastate public and private bus transport are not allowed. The government would implement intense lockdown in the state on all Sundays of August without any relaxations.

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The government has begun an exercise to identify exemptions under the customs duty law that need to be weeded out. It has sought suggestions from industry and other stakeholders on phasing out exemptions and simplifying customs procedures. The crowdsourcing exercise, which is not limited to only a few notifications or sectors will go on till August 21.

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Virtual events have become buzzword after the outbreak of COVID- 19 and the leather sector, which was badly affected due to the lockdown and cancellation of export orders, is utilising the online platform to attract global customers. The industry has witnessed a significant recovery in June and they are expecting that these virtual events will further lead to its revival. The Council for Leather Exports (CLE) is organising virtual leather fairs, exhibitions and B2Bmeetings in different countries with the support of Indian Embassies. So far, the virtual fairs have been organised in Korea and Vietnam and soon events will be held in Russia and Peru.

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By shifting its focus on cultivation and effectively handholding farmers, the country can be among the top-five exporters of agro commodities, according to a report by the World Trade Centre. The report comes at a time when the government has announced some reforms in the farm sector by allowing farmers to sell products outside the regulated APMC markets. This along with the relaxation of the Essential Commodities Act, among others, can help boost exports.

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