Monday 21 October 2019

Export Import News 21.10.19
1.      New rules of origin initiative to help firms better utilize trade preferences
The World Trade Organization is partnering with the International Trade Centre (ITC) and World Customs Organization (WCO) in an initiative which will enable firms to take fuller advantages of benefits under free trade agreements and preferential trade arrangements by helping them comply with product rules of origin requirements.
We have also advised in our last video that applying GSP certificate is now on line at DGFT site.

2.      Regarding import of flag

3.      DGFT: Import policy of Urea is free  now.

DGFT has issued notification No.23 dated 11.10.19 about Import policy for Urea for industrial or non-agricultural shall be "free" with immediate effect the same can be imported through Rashtriya Chemicals & Fertilizers (RCF)

Ministry of Finance Revenue department

4.      Antidumping duty  on flat rolled products of steel
Ministry of Finance Revenue department has issued NOTIFICATION No. 40/2019-CUSTOMS (ADD) on 15.10.19  About anti-dumping duty imposed on Flat rolled product of steel, plated or coated with alloy of Aluminium and Zinc, imported from China, Vietnam and Korea due to :

i)                    Goods are exported to India below their normal values.;
 (ii)     The domestic industry has suffered material injury;

5.      Onion
MMTC’s 2,000 ton onion import tender fails to draw bids

After prices went up to Rs.80/- (Euro 1.02) per kg in domestic retail market, Govt run MMTC called tender for import of 2,000 tons of onion from any country. There were no bidders in MMTC's tender

"The objective of the tender was to control prices (of onion). Now that the new crop from Karnataka has started arriving in the market, prices are almost under control. So, the failure to draw bids wouldn't matter much.

6.      Flipkart: Fresh groceries via Farmermart

A commerce ministry official told Reuters that
The Indian government is looking into whether hefty discounts offered on Walmart-owned Flipkart and during their online festive sales violate foreign investment rules,

7.      ICC has published INCOTERM 2020 With the new rules set to come into force from 1st January 2020
With the new rules set to come into force from 1st January 2020, exporter, importers, shipping, logistics, supply chain and freight professionals need to refresh their knowledge now if they want to be able to use the Incoterms® 2020 confidently and without errors, to avoid costly mistake.
  • Updates to the FCA rule regarding bills of lading
  • Updates to the levels of insurance coverage required in CIF and CIP
  • Renaming of the DAT rule to make it more fit for purpose

Sunday 23 June 2019


1.      Textile body seeks Ministry’s support to tackle readymade imports, help local industry

3.      16th WTO-WIPO colloquium for intellectual property teachers opens in Geneva

4.      India's exports grew by 3.93% to $30 billion in May on account of healthy growth in sectors such as chemicals, pharmaceuticals and engineering, according to a commerce ministry data released Friday. Imports too rose by 4.31% to $5.35 billion, widening the trade deficit to $15.36 billion in May

5.      Commerce Minister reviews free trade pactsCommerce & Industry Minister Piyush Goyal has reviewed India’s free trade agreements (FTAs) with partner countries such as Japan, South Korea, Sri Lanka and the 10-member ASEAN to identify problem areas for the Indian industry and the opportunities they could offer.
“The Minister reviewed in details the impact of the existing FTAs on the Indian industry and the extent to which the partner countries had gained from it. The idea was to explore if there are ways in which concerns of the Indian industry could be addressed and what should negotiators look out for in future pacts,” a government official told BusinessLine.

6.      India responds to US moves at last with tariff hike on 29 US products

7.      50% tariff on US motorcycles by India unacceptable, says US President

8.      US Secretary of State says India 'perfect partner', great place to figure out how to grow economies

9.      Indian, Chinese officials hold dialogue to break deadlock in RCEP (Regional Economic Partnership) trade negotiations

  1. India-LAC trade up 20-fold yet since 2002; huge potential untapped: MEA official,

11.  Commerce Ministry plans to boost exports through e-commerce
12.  Centre removes export incentives for onion

13.  Ease in government clearances
14.  Electronics manufacturers seek ban on television imports from Vietnam

15.  Index Numbers of Wholesale Price in India (Base: 2011-12=100)

Wednesday 22 May 2019

Export Import New Letter

 1.      Supply of essential commodities to the Republic of Maldives during 2019
2.    E BRC notification issued by DGFT, Amendment in the Para 3.01 (b) of the Handbook of Procedures
 3.      Non-requirement of submission of Hard copy of application at RAs for issue of Advance Authorisation

News Letter : -  

1.      Export made to OFAC countries and e-BRC not issued by bank. Exporter can submit self-declaration with payment received in INR to DGFT

2.      Huawei says it is a victim of U.S. bullying

4.      Trade Deficit widens to $15.33 billion in April-19

13.  Trade tussle: India voices concern over ‘existential’ threat to WTO

16.  RBI releases payments systems roadmap for a ‘cash-lite’ India

17.  China ready for further U.S. trade talks, ambassador says