Import/Export Industry Notifications

The commerce and industry ministry has convened a meeting of exporters on April 20 to discuss the export situation against the backdrop of surging coronavirus cases and healthy growth in overseas shipments in recent months.

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India and Japan are strategic partners with a common interest in promoting peace, security, stability, and prosperity globally, especially in the Indo-Pacific region. Over the years, Japan has been one of the most important economic partners for India’s development.

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Afghanistan and Indonesia account for 48% of sugar exports from India, according to figures from the Indian Sugar Mills Association (ISMA). Being the largest importer of Indian sugar, Indonesia has imported about 11.5 lakh tonnes during the period of October-March. Afghanistan has imported 4.7 lakh tonnes from India.

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The insufficiency of coal and a dwindling market affected more than 120 coking coal factories of Dhanbad, Giridih and Ramgarh in the last few years. Australian coal, besides being good quality, is also available at comparatively cheaper rates compared with the locally available coal provided by different Coal India subsidiaries like Bharat Coking Coal Limited  (BCCL); Eastern Coalfields Limited (ECL) and Central Coalfields Limited (CCL).

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Dubai’s DP World, which is one of the world’s largest port operators, is looking for $210.2 million in damages from Djibouti’s government in an ongoing legal battle over port concession rights, documents related to the dispute.

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On Friday, Hyundai Motor India (HMIL), the wholly-owned subsidiary of South Korean-based Hyundai Motor Company (HMC), claimed that it had exported 1,04 342 units of passenger vehicles from India between April 2020 and March 2021, continuing its journey as the Number One automobile brand to export from the country.

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After the government approved of duty-free import of cotton yarn, exporters have requested that the leadership open imports from India. They have also requested the government to extend incentives until the country achieves its yearly cotton production target.

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On Thursday, MSME Minister Nitin Gadkari emphasised the opportunity MSMEs in India have to plug themselves into the global supply chains as countries look to diversify their supply out of China. As per a survey covering over 150 companies in India by FICCI and Dhruva Advisors in December 2020, 69% of the respondents expected global companies to exit China and move to India.

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Unrest in Myanmar and high shipping charges have resulted in South-East Asian countries and Bangladesh turning to India to meet their maize (corn) demand for feed purposes. The problem for these countries is that the freight rates for getting maize from these countries are currently $55-65 (₹4,100-4,800) a tonne. Charges for a container are $500 (₹37,200). “In contrast, freight rates from India are $20 (₹1,500) a tonne.Unrest in Myanmar and high shipping charges have resulted in South-East Asian countries and Bangladesh turning to India to meet their maize (corn) demand for feed purposes. The problem for these countries is that the freight rates for getting maize from these countries are currently $55-65 (₹4,100-4,800) a tonne. Charges for a container are $500 (₹37,200). “In contrast, freight rates from India are $20 (₹1,500) a tonne.

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