New Delhi: Indian exporters have sought priority shipment facilities for local micro, small and medium enterprises (MSME) as transhipment of Bangladesh‘s export cargo to third countries through the Delhi Air Cargo complex is causing delays, inflating freight expenses. The Noida Apparel Export Cluster (NAEC), where 80% of the apparel production and export units are MSMEs, … Read more
The commerce ministry has made it mandatory for exporters to file registration-cum-membership certificate (RCMC) applications through a common digital portal, a move aimed at promoting ease of doing business for the trading community. According to the Foreign Trade Policy, a Registration-cum-Membership Certificate (RCMC) is required for exporters in order to avail benefits under the policy. … Read more
Freight rates have started increasing once again after remaining steady in December, rising 10% in the first week of January, raising fresh concerns for exporters of basmati rice, tea, apparel and leather goods among others. The waiting time of consignments at ports has also increased to more than a month from 15 days, trade insiders … Read more
The government on Friday extended the last date for submitting applications to January 31, 2022 from December 31, 2021 for various export promotion schemes under the Foreign Trade Policy. The Directorate General of Foreign Trade (DGFT), in a notification, said that after January 31, 2022 no further applications would be allowed to be submitted and … Read more
The Reserve Bank on Thursday said a scheme providing interest subsidy for post and pre-shipment export credit has been extended by three months till September, a move that will provide relief to exporters. Exporters get the subsidy under the ‘Interest Equalisation Scheme for pre and post-shipment Rupee Export Credit’. Earlier in April, the scheme was … Read more
NEW DELHI: Exporters are concerned about the proposed amendments in the integrated goods and services tax (IGST) in the Finance Bill that have taken away the flexibility of exporting on the payment of the integrated tax. Earlier, exports could be made either on payment of the integrated tax or under bond. Citing liquidity crunch and … Read more
Mumbai: Exporters have dragged the Revenue Intelligence (DRI), India’s primary anti-smuggling intelligence agency to various courts following notices over allegedly wrongfully availing Goods and Services Tax (GST) exemptions. Exporters have filed various writ petitions in Gujarat High Court, Punjab High Court, Bombay High Court and Madras High Court. Some of the courts have decided to … Read more