Import/Export Industry Notifications

Request to send trade-related issues faced by Indian Exporters in the UK

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Exports from the Special Economic Zone (SEZ) of Indore rose by 21.5% to Rs 3,103.32 crore during the first quarter (April-June) of the current financial year driven by a spurt in demand for life-saving drugs during the COVID-19 pandemic.

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India exported goods worth a record $35.2 billion in July, signalling that the rapid economic recovery in key Western markets is increasing demand for Indian products.

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"Freight rates are surging continuously. As a result, the charges for containers are increasing between $500 (Rs 37,000 approx) to $800 (Rs 59,000 approx) every fortnight,” said Ashwin Nayak, founder chairman, Federation of Indian Spice Stakeholders (FISS).

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The container operations at the Port of Houston seem to return to normal, with the port stating that Bayport and Barbours Cut Container Terminals have opened to truck traffic.

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Amendment in Appendix 2K of the Foreign Trade Policy.

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India will aim to more than double its annual goods and services exports to over $1 trillion by FY26 under the new foreign trade policy (FTP), as it seeks to tailor its policies suitably to cash in on an expected rebound in global economic growth, sources told FE.

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Exporters have called on the government to ask Indian shipping lines to lease containers, as a worldwide supply chain imbalance has led to skyrocketing freight prices.

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The shipping lines are quoting four to five times the regular price of about 1,500 to 2,000 US Dollars for various global destinations. The Building Material Special Economic Zone at Gullapalli in the district alone has more than 400 containers of processed material ready for shipping to various countries.

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