Import/Export Industry Notifications

Chinese products are entering the Indian market through third countries such as Singapore and Cambodia to circumvent Indian laws. Hence, New Delhi has imposed anti-dumping duty on measuring tapes and their components originating from China and any other country. The finance ministry not only re-imposed anti-dumping duty on Chinese measuring tapes made up of steel and fibreglass but also extended the same to the imports from other countries so that Chinese products cannot be re-routed through a third country.

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ECGC Ltd.’s Surat branch made claim payment to the tune of Rs 133 crore to the banks under the ECIB in the first quarter of the current financial year. This was the highest ever claim to payout by the ECGC’s Surat branch to the bank. Exporters take export credit from the commercial banks, which are covered under the ECIB scheme. In case of payment losses, defaults or NPAs, the banks claim insurance from the ECGC.

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In a bid to boost the Atmanirbhar Bharat initiative, the government is looking at increasing customs duties and has initiated an inter-ministerial consultation. The government has begun a fresh round of assessment of current customs duties on directions from the Prime Minister’s Office. The government wants the key import-oriented ministries to re-assess their current import duties and come up with suitable suggestions.

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India is adopting a multi-pronged strategy to enhance trade and business partnership with Bangladesh amid Beijing's recent efforts to woo Dhaka with duty-free access to its products. Both India and Bangladesh are undertaking various measures to restore the pre-1965 rail and other connectivity links. While Chinese trade concessions can push Bangladesh into a “dual deficit and debt trap”, India is activating various connectivity initiatives for seamless movement of Bangladeshi products to the landlocked parts of India. These will enable Bangladesh to connect with Bhutan and Nepal markets along with India.

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The CMA CGM Group will toughen its rules for shipping protected species. They will draw up a blacklist of exporters suspected of illicit trafficking, and freeze timber exports from The Gambia to help prevent deforestation. This French shipping company is reinforcing its procedures for shipping protected species. As part of these tighter procedures, shippers must state if the species is covered by the CITES convention and provide requisite export permit whenever any animal or plant goods are carried.

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India imposed definitive anti-dumping duty on certain types of measuring tapes from China for five years to guard domestic manufacturers from cheap imports. The duty was imposed on 'steel and fibreglass measuring tapes and their parts and components' after the DGTR recommended for continuation of the duty. The anti-dumping duty imposed under this notification shall be effective for a period of five years and shall be paid in Indian currency

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India’s seafood exports to China are reportedly facing the brunt of resistance. Shippers are citing delays in the clearance of marine product consignments in the recent past. But in the last 15 days, there has been a deliberate attempt to delay inspection of Indian containers under the pretext of Covid-19 supervision. As matters are tense at the borders, it now takes 10 days for the cargo to be cleared instead of the standard 3 days.

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South Africa's government has banned all exports of ferrous and non-ferrous scrap metal for two months. This has been implemented to safeguard domestic supply while it considers measures to support the domestic industry. The two-month pause took effect on 3 July. Scrap metal shipments that already received export permits or that applied for permits prior to 3 July will be allowed to go forward. The ministry also will issue permits for scrap metal that it determines is not being used by South Africa's domestic processing industry.

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The commerce ministry is considering replacing the multi-modal transportation of goods act with a national logistics law to promote the growth of the sector. National Logistics Efficiency and Advancement Predictability and Safety Act (NLEAPS) are under consideration. This law tends to define various participants of the logistics space and create a light regulatory ecosystem.

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