Import/Export Industry Notifications

In a novel initiative, turmeric is being transported by rail from Nizamabad in Telangana to Bangladesh. The freight train loaded 2,474 tonnes of turmeric in 42 wagons and set off to Benapole. Traditionally, it was transported by road to Bangladesh, which was a time-consuming and expensive process. More freight customers are showing interest in increasing the transportation of goods such as essentials and agricultural goods from Nizamabad to Bangladesh.

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Seafood exporters are anxious about the EU-Vietnam FTA. It is expected to give Vietnam an export advantage on marine food products vis-à-vis India in accessing EU markets. Domestic industry fears it will lose the edge in the key export market.

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India has questioned the rationale of joint statements issued by some countries at the World Trade Organization. The nation is pushing for the greater opening of markets for agricultural products. It has argued that for developing countries, export restrictions are a tool to prevent domestic shortages and are essential. Hence, India is against easing farm export tariffs amid COVID-19 crisis.

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Government is likely to fast-track import restrictions on 371 Chinese goods. From toys and plastic goods to sports items and furniture goods worth $127 billion - could be placed under restrictions. The commerce ministry is fast-tracking measures to cut down on Chinese imports and the findings will be presented to the Prime Minister's Office soon.

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The Directorate of Revenue Intelligence (DRI), Mumbai zone, has seized 13 metric tonnes of red sanders which were being smuggled to Sharjah, UAE from the Nhava Sheva port in Navi Mumbai. The blocks of red sanders were concealed in the cover cargo of onions. The central law enforcement agency has also arrested two members of the syndicate.

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After the success in export of fresh vegetables and fruits from farms of Varanasi and adjoining regions in the markets of Dubai and London, the district has taken a step ahead with the efforts to get its own pack house to end its dependency on others like of Rehmankheda in Lucknow. Construction of a pack house by mandi parishad in Varanasi has already been sanctioned by the government.

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India has been traditionally the largest importer of pulses as it is one of the most common sources of protein for its people. India’s decision to extend import restrictions on peas, lentils, beans and other pulses by another year till March 31, 2021, has been objected to by many trading partners. That includes Australia, the EU and the US opposing on the ground that it is no more a temporary measure and should be removed.

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In a major relief to several companies, the government has asked tax officials to allow refunds of unutilised input tax credits to companies in certain cases. Many tax officials have been rejecting refunds after claiming that companies are not eligible for such refunds unless it’s explicitly reflected in the forms (GSTR-2A).

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Labour shortage and scarcity of containers at the ports has hit India’s rice exports to Africa, Saudi Arabia, Iraq, Iran and the United Arab Emirates. While Africa imports non-basmati rice from India, the Gulf countries rely on India’s basmati rice for their domestic consumption. Trucks are standing at the Kandla and Mundra ports for a minimum of seven days as there is no labour to unload the trucks.

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