Import/Export Industry Notifications

Addressing the container shortage and consequent surge in freight rates, the Federation of Indian Export Organisations (FIEO) on Monday noted how the freight rates had skyrocketed from the pre-pandemic period.

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Garment units in Tirupur are all set to commence production with 100% workers from Monday. The move has brought cheers to the workers, who were jobless for the past several weeks.

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The COVID-19-related pressure on the businesses of ports is seen easing a little in the first two months of the current financial year, with Kochi port witnessing an upswing in the volume of cargo throughput. As per the Indian Ports Association figures, Kochi saw the volume of cargo throughput go up to a total of 5.17 million tonnes during April and May this year compared to 3.41 million tonnes during the same months in 2020.

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When exports appear to be the only support system for the Indian economy, exporters are being forced to shell out more to ship goods to global destinations.

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China has replaced the United Arab Emirates as India’s second-biggest export destination in the fiscal year 2021, with outbound shipments to the neighboring country rising 27% to over $21 billion despite the pandemic.

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In a significant boost to harness the export potential of agricultural and processed food products from the north-eastern states, a shipment of fresh Burmese grapes referred to as ‘Leteku’ in Assamese has been exported to Dubai from Guwahati by the air route.

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South Korea's logistics industry stakeholders have decried the Korea Fair Trade Commission's (KFTC) recent financial penalties on 12 country's liner operators, describing it as "a double blow amid tight shipping capacity".

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The Meghalaya government is working out modalities to resume cross-border trade with neighbouring Bangladesh through its land customs stations (LCS). The authorities have decided to resume international trade, keeping with all safety norms.

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A four-month ban on shipments coupled with a decline in demand because of the Covid pandemic pulled down onion export earnings to a six-year-low during the 2020-21 financial year.

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