Import/Export Industry Notifications

The ongoing trade war between India and China has cast a shadow on the burgeoning textile sector of the country. The exporters are worried about their stuck payment. As India stares at bumper cotton stocks, exporters are asking for urgent steps like exporting subsidies to help them offload their stocks. With the stoppage of imports from Bangladesh at the land ports, Indian exporters fear this would affect their prospects to one of the biggest markets of Indian cotton.

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Imports and exports of goods through trucks have resumed at West Bengal-Bangladesh land border after traders took the matter with the Centre and state authorities. The issue was flagged by FIEO in a meeting with commerce and industry minister Piyush Goyal. We are getting reports that the movement of trucks have started at the land borders. Both the sides are permitting the movement of trucks.

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South Korea is facing more investigations on import restrictions from major countries this year due to growing protectionism worldwide amid the COVID-19 pandemic. According to the KITA, South Korea saw the launch of 23 new investigations on suspicions of anti-dumping and safeguards in the first six months of the year, up to four from a year earlier. Currently, South Korea is subject to 219 import regulation measures. Of them, 164 are anti-dumping duties, while 46 others are safeguard measures and nine are countervailing duties.

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Exporters' body FIEO demanded fast resolution of issues related to 'risky exporters' and immediate release of their refunds to help them tide over the problems arising due to COVID-19 pandemic. The Federation of Indian Export Organisations (FIEO) said that during the current crisis, exporters are already facing problems and the matter of risky exporters is further adding to their woes. An exporter is tagged as risky if the customs department suspects that duty drawback claims and IGST refunds are on the basis of bogus invoices. The consignments of risky exporters undergo manual checking before their claims are refunded.

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Hapag Lloyd has issued a notice to their customers informing that the Maritime Employer’s Association in the Port of Montreal has received a strike notice starting on Thursday, July 2 at 3 p.m. and ending on Saturday, July 4 at 6:59 a.m. As a result of this strike notice, the two Terminals operated by MGT (Racine and Cast) will cease operations during these two days. The strike will last 40 hours.

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India's trade pushback against China amid a border standoff threatens to disrupt the world's biggest generics-exporting industry during the pandemic. Shipments of active pharma ingredients, or raw materials for drugs, and key starting materials that go into making APIs are stuck at ports as customs authorities have delayed clearance. The disruption is so acute that the Pharmaceuticals Export Promotion Council of India wrote to several departments, including the Finance Ministry and the Prime Minister’s Office, seeking an intervention. They are yet to get clarity.

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Hapag Lloyd has issued a notice to their customers informing about the Currency Adjustment Factor (CAF) application from/to the Middle East, Indian Subcontinent and Africa. According to this, the FAK base rates as well as Security-related surcharges; Peak Season surcharges (if applicable) and Terminal Handling Charges (THCs) remain unchanged. Other local charges and contingency surcharges may apply.

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Customs officials across the country have started releasing China originated consignments, giving relief to the pharma industry in India. However, the industry is not accepting the fact to pay the demurrage charges asked by the customs officials. The industry is planning to compile a nationwide data of imposed demurrage charges on each pharma company, and present it to the government authorities.

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Export of Indian goods to Bangladesh through the Petrapole border in West Bengal was disrupted due to agitation by a section of exporters of the neighbouring country. India has allowed export of goods from Petrapole, the largest land border port with Bangladesh on June 7 but has not allowed import of goods from Bangladesh. Hence, Bangladesh has stopped import as their exporters are annoyed since India has not allowed import of goods from Bangladesh through Petrapole.

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