Government extends validity of scrips under export incentives schemes for exporters
Depending on the nature of services and product, the government gives duty credit scrips or certificates to exporters. These scrips can be transferred or used for payment of a number of duties including the basic customs duty.
Govt should remove technical difficulties in existing export promotion schemes: Exporters of agricultural commodities
“The HACCP code for exp...
Export performance to improve in May, June: Piyush Goyal
“While April was a washout with a 60% decline, the fall in exports in May will be 30...
Fruit, veggie exports fall 70% during lockdown
The average export was 4 lakh tonne a month in the previous year and now only 30% of that is happening said an APEDA official.
Exporters gradually getting order enquiries from US, Europe
FIEO Director General Ajay Sahai said the situation is better as buyers from the US and Europe have started talking to domestic companies. The coronavirus outbreak has impacted the sector significantly and in such a crisis, the government support is needed on an urgent basis to put the growth trajectory on track.
Govt frees export of alcohol-based hand sanitizers except those in containers with dispenser pump
"Alcohol based hand sanitizers exported in containers with dispenser pump…are prohibited for export,” DGFT said in a notification. The government on May 6 had prohibited the export of all alcohol-based hand sanitizers.
RBI's announcement for exporters welcome but problem is far bigger: EEPC
While the moratorium and working capital relaxations are welcome, exporters would need direct fiscal support for staying alive in business.
Exports plunge by record 60.28%in April; trade deficit lowest in 4 years
Imports too tumbled by 58.65 per cent to USD 17.12 billion in April from USD 41.4 billion in the same month last year, according to the data by the commerce and industry ministry. The trade deficit narrowed to USD 6.76 billion. Trade deficit in April 2019 stood at USD 15.33 billion. The country's exports had contracted by 34.57 per cent in March 2020.
Export sops likely to continue till March 2021
The commerce and industry ministry is considering a plan to extend the Merchandise Exports from India Scheme (MEIS) till March 31, 2021. The proposal was mentioned in a letter to development commissioners of special economic zones from the Department of Commerce. ET has reviewed the letter.
India’s leather industry stares at export loss of $1.5 billion
Leather exporters said countries like US, Germany and Italy have started sending enquiries and are negotiating for a lower price.
Physical copy of key export document mandatory for shipments to Thailand, Vietnam under FTA
The government on Friday restored the procedure for issuance of physical copy of certificates of origin as exporters had expressed difficulties in obtaining preferential access in Thailand and Vietnam based on digitally signed electronic certificates.
DRI sounds alert over smuggling of infrared thermometers into India from China
The Directorate of Revenue Intelligence (DRI) official said there is information to suggest that smugglers may under-value or mis-declare these thermometers to illegally import them to India.
Rice exports to Bangladesh via West Bengal likely to commence soon
Rice exports to Bangladesh through West Bengal will likely begin soon as the ministry of home affairs (MHA) has taken a tough stand against the state government for not allowing border trade with India's eastern neighbour.
Reserve Bank extends Rs 15,000-cr credit line to EXIM Bank
The central bank said Export-Import Bank of India (EXIM Bank) depends on foreign currency borrowings for its operations and as a result of the COVID-19 pandemic, it is unable to raise the resources, due to which the facility is being extended.
SEZ units want customs duty waiver for domestic sale as exports plummet
At present, SEZs are also not able to sell their products in the domestic market, as payment of customs duty as per Section 30 of SEZ Act, 2005, is making their products uncompetitive, the Export Promotion Council for EOUs and SEZs (EPCES) said in a letter to commerce and industry minister Piyush Goyal.
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