Import/Export Industry Notifications
23 April 2020
THE HINDU | CFS operators were blamed for charging high prices
23 April 2020
The container freight station (CFS) operators were blamed for charging high prices earlier. Now, they are helping the government by managing the ports from getting choked as importers fail to clear cargo due to the lockdown. A majority of the importers are being facilitated by CFSs.
23 April 2020
ET | Stringent restrictions on foreign direct investments
23 April 2020
The Indian government announced stringent restrictions on foreign direct investments (FDIs) from countries sharing land borders with India. Similar restrictions were already in place for Bangladesh and Pakistan. So the fresh action is clearly aimed at monitoring and regulating Chinese FDIs into India, and buyouts of Indian companies by Chinese entities.
23 April 2020
THE HINDU | Exporters need a relief package
23 April 2020
While exporters agree that the RBI’s decision to relax bad loan classification and provide refinance facility would help; a comprehensive economic package with enhanced sops is required to help them survive the challenges posed in the wake of the COVID-19 situation.
23 April 2020
THE HINDU | World trade is likely to decline by 13-32 per cent in 2020
23 April 2020
According to the WTO, world trade is likely to decline by 13-32 per cent in 2020. To increase economic activity from April 20, 2020, the Finance Ministry has asked PSBs to place in the indicative time frame from processing to disbursement. The Ministry emphasised that timely credit to businesses in the context of the COVID-19 pandemic is critical for revival of economic activity.
23 April 2020
THE HINDU | Extend all possible support to Exim trade and community
23 April 2020
The Cochin Port Trust will extend all possible support to Exim trade and community. It has been hit severely by the lockdown on account of the COVID-19 outbreak. The port is considering concessions, including ground cargo rent/container rent, CFS charges, godown rental waiver, etc. The decision on the concessions will be taken in consultation with the Shipping Ministry.
23 April 2020
ET | Request to go digital shipping increases
23 April 2020
To ensure smooth cargo operations at India's ports amid the coronavirus pandemic, the shipping ministry has requested the commerce ministry to issue advisory for recognition of electronic trading documents instead of manual ones. The request has been made by citing bottlenecks caused in handling EXIM cargo. They’ve also requested the Indian Banks Association to accept electronically-generated trade documentation.
23 April 2020
Economic Times | Logistics costs set to rise as freighters hike tariffs
23 April 2020
Truckers and transporters are increasing prices by 80%. Freighter operators are adding surcharges for transportation of goods. They are facing regulatory challenges, shortage of manpower and a huge slump in supply. Blue Dart has implemented a 25% emergency situation surcharge (ESS). Air India might increase freight charges by 90% per kilo if it doesn’t have sufficient cargo to ferry.
23 April 2020
THE HINDU | Vallarpadam ICTT violates a Union government advisory during the lockdown
23 April 2020
The practice of charging demurrage and ground rent on importers by the container freight station at the Vallarpadam ICTT violates a Union government advisory during the lockdown. It has almost doubled the financial burden of operators from north Kerala. Several importers have received bills to the tune of ₹5,000 to ₹2 lakh.
23 April 2020
DECCAN HERALD | Garment exporters will continue to get a rebate on central and state taxes
23 April 2020
Garment exporters will continue to get a rebate on central and state taxes on their outward shipments. The government has decided to extend the RoSCTL scheme beyond March 2020.
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