Import/Export Industry Notifications

VC meeting with Indian Missions in Tajikistan & Turkmenistan is scheduled be held on 27th May-2021 which Chemexcil representative will also attend. The objective of holding the above VC meeting is to explore the possibility of expanding the trade by identifying products with high potential, identifying trade-related issues, and exploring measures/ initiatives to be taken up further for tapping the export potential in these 2-countries.

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India’s wheat exports have hit a roadblock over the past few weeks as the coronavirus pandemic has forced shutdowns and affected critical operations across the country, sources told. Key trade centers in Madhya Pradesh and Rajasthan, significant growers of the staple food grain, have been shut for weeks, traders said.

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Late last year, India, the world's biggest sugar producer behind Brazil, approved subsidies of 5,833 Indian rupees per tonne to encourage cash-strapped mills to export 6 million tonnes of sugar in the current 2020/21 season. India on Thursday cut sugar export subsidies by 31.4% for the current season, which ends on Sept. 30, according to a government order issued by the Ministry Of Consumer Affairs, Food And Public Distribution.

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JK Paper Limited has claimed the probability of recurrence of dumping if the extant anti-dumping duty comes to an end and requests for review and continuation of the levy. Anti-dumping duty was first imposed in 2018. India has initiated a sunset review investigation on anti-dumping duty on uncoated copier paper imported from Indonesia and Singapore.

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Because of US economy’s resurgent and the revival in different parts of the world, India’s export is finally doing well. It turns out that between January and April, non-petroleum exports came in at $26.3 billion a month, much better than the $23.4 billion a month between October 2019 and January 2020, before the pandemic struck. The biggest problem, though, is the approach of our policymakers, who would instead look inwards and stay protectionist.

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On Wednesday, the Global Trade Update by the United Nations Conference on Trade and Development (UNCTAD) said that in Q1 2021, the value of global trade in goods and services grew by about 4% quarter-over-quarter and by about 10%  year-over-year. According to the latest UN data, India, China, and South Africa have fared “relatively better” than other major economies in imports and exports in the first quarter of this year.

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The global recovery has aided the recent jump in merchandise exports, exporters said, adding that their profit margins could remain under pressure. Merchandise exports nearly trebled in April to $30.63 billion over the same period last year. They grew 17.62% compared to April 2019.

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Special refund disposal drive from 15.05.2021 to 31.05.2021- reg.

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Central Board of Indirect Taxes & Custom (CBIC) has announced changes in GST refund policy and revocation of cancellation of registration rules. Experts feel that these changes will give some relief to GST assesses.

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