Import/Export Industry Notifications

American and European retailers are filing for bankruptcies due to the coronavirus pandemic crisis. The Indian creditors who have unsecured outstanding dues with the companies are feeling the pressure. It is estimated that the Indian creditors have outstanding dues in excess of $50 million.

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The Marine Products Export Development Authority (MPEDA) announced that it has developed a testing protocol for formaldehyde adulteration in seafood. This adulteration poses serious challenges on food safety and has the potential to become an irritant in India's seafood exports to various markets. A validated method for detecting formaldehyde in seafood is by using high-performance liquid chromatography (HPLC).

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The Indian polymer producers have restarted their plants and were building up inventories to service both, a lift in export orders and in anticipation of a rise in demand post a nationwide lifting of the lockdown across India. The demand from China for select polymers has lifted. Given that polymer prices are currently quite attractive, inquiries for Indian PP, PE and PVC have reportedly lifted.

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Indian Prime Minister Narendra Modi called upon his countrymen to try and turn the COVID-19 pandemic crisis into an opportunity and become self-reliant in terms of manufacturing activities. Modi announced a special economic package of 267 billion U.S. dollars to make the country self-reliant amid a nationwide COVID-19 lockdown. This economic package would be around 10 per cent of the country's gross domestic product (GDP).

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Out of the 15 relief measures announced under the mega Rs 20 lakh crore stimulus package for the COVID 19-battered economy, six aimed at bringing lockdown-hit India’s vast MSME sector back to life. Nirmala Sitharaman said that the government and central public sector enterprises will release all pending MSME payments in 45 days.

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The services to and from CONCOR ICD Locations at Rewari, Chinchwad and Panipat in India are no longer valid. These are terminated by CONCOR and hence have been expired in Hapag-Lloyd systems effective May 5 2020.

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The Delhi Customs intercepted a huge amount of PPE (Personal Protective Equipment) kits, masks, raw material, and sanitisers which were being smuggled to China. The DGFT, on March 19, had banned the export of all ventilators, surgical, disposable (2/3 Ply) masks, and textile raw material for masks and coveralls. Export of Alcohol-based sanitiser was banned by DGFT on April 7. The Delhi Customs has started an investigation in the matter.

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Basmati exporters have asked the growers to increase the area under cultivation, saying that they have orders in hand, despite the COVID-19 pandemic affecting most other sectors of the economy. The orders are from West Asia, Arabian countries, Europe, Canada and the US. The exports of basmati from the country were expected to touch Rs 40,000 crore this year with an increase of 15% over Rs 35,000 crore last year.

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After relaxing the labour laws, the Uttar Pradesh government has now decided to elevate the warehousing and logistics sector to industry status. CM Yogi Adityanath has already given a green signal to the proposal which would be put up before the state cabinet soon.

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