FIEO to engage with traders in North-East to promote exports

download (12)Source: The Economic Times, Apr 11, 2017

NEW DELHI: Apex exporters’ body FIEO will spread awareness among traders in the North-East about various outward shipment schemes being run by the government and also organise workshops to address their issues.

The seven states of the region hold huge potential for exports, the Federation of Indian Export Organisations (FIEO) said. “We will increase awareness among the exporters of that region about the government’s export promotion schemes. We will also conduct workshops to resolve their issues,” new FIEO President Ganesh Gupta told PTI.

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India allows duty-free import of 500,000 tonnes of raw sugar

Source: Business Standard, Apr 05, 2017

India, the world’s biggest sugar consumer, allowed duty-free imports of 500,000 tonnes of raw sugar, a government official said on Wednesday, as a drought curtailed the country’s production below consumption levels for the first time in seven years.

The duty-free imports will be allowed until June 12, said the official, who declined to be named.

The imports will harden global prices as India was an exporter of sugar until last year.

The country’s sugar output in the 2016/17 year that started on Oct. 1 is likely to fall to 20.3 million tonnes, compared to annual demand of around 25 million tonnes a year ago, the Indian Sugar Mills Association (ISMA) said.

 

Indian merchandise, services exports to hit $500 Billion by FY18

Source: The Economic Times, Apr 05, 2017

HYDERABAD: Improving the product diversify of Indian exports and including more high-tech products will help India’s merchandise and services exports to cross $500 Billion mark by fiscal 2017-18 and compete better in the international market, views the Federation of Indian Export Organisation (FIEO).

The federation expects to end the fiscal 2016-17 with an export of about $270-275 Billion as against $262 Billion in the previous year, with a growth of around 3-4% for the year in the merchandise sector whereas in services sector FIEO is expecting an export of $160 Billion in 2016-17.

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Commerce ministry to make changes in export schemes after GST

Source: The Economic Times, Mar 30, 2017

NEW DELHI: The commerce ministry may have to make certain changes in the export related schemes due to the implementation of the Goods and Services Tax (GST), a senior official today said.

Director General of Foreign Trade (DGFT) A K Bhalla also said that the ministry is currently undertaking the stakeholders’ consultation for the mid-term review of the Foreign Trade Policy (FTP). “There is going to be certain changes (in the FTP)” due to the implementation of GST, he said here at the function of Federation of Indian Export Organisations (FIEO) here.

“We have (to) re-write some of the schemes,” he added.

The GST will subsume excise, service tax and other local levies. Bhalla also sought views of FIEO members for the review of the FTP.

Speaking on the occasion, MSME Secretary K K Jalan said that exports are crucial for country to boost growth and create employment.

He said exporters should also take advantage of the MSME schemes.

The commerce ministry can think of extending more incentives to the exporting sectors which create more employment, Jalan added.

FIEO President S C Ralhan said that exports are growing since the last five months and it has recorded double digit growth in February.

“Going by this trend, India’s exports may reach USD 270 billion by end of this fiscal,” he said.

 

Government may relax restrictions on organic agriculture product exports

download (3).jpgSource: The Economic Times, Mar 30, 2017

NEW DELHI: The Union Cabinet is expected to allow unrestricted exports of all certified organic agricultural products, a move which would help in boosting shipments.

The cabinet committee on economic affairs is likely to take up the proposal tomorrow to remove all quantitative ceilings on exports of organic agricultural and processed products, sources said. However, these products should be certified by the Agricultural and Processed Food Products Export Development Authority (APEDA).

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Nine years after ban, govt allows export of edible oil in bulk

Source: Business Standard, Mar 28, 2017

Mumbai: The Government of India has allowed bulk export of select edible oils.

In a notification issued on Monday, the office of the Director General of Foreign Trade, said, “Exports of groundnut oil, sesame oil, soybean oil and maize (corn) oil in bulk, irrespective of any pack size, has been exempted from the prohibition on export of edible oil.”

This means a nine-year ban on their export has been lifted.

Until now, export of select edible oils were allowed only in consumer packs of up to five kg each.This should mean better realisation for producers, improving their capability to pay more for oilseed. This could encourage more sowing by farmers.India currently meets around 60 per cent of its edible oil demand of 24 million tonnes (mt) a  year through import.

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Buffalo meat exports at over Rs 21,000 cr in Apr-Jan in FY’17

Source: Business Standard, Mar 27, 2017

New Delhi: India’s buffalo meat exports reached Rs 21,316 crore in April-January period of the current financial, Parliament was informed on Monday.In the entire last financial year, 2015-16, the exports aggregated Rs 26,684 crore with the main export destinations including Vietnam, Malaysia, Egypt, Indonesia and Saudia Arabia.

Commerce and Industry Minister Nirmala Sitharaman said as per the existing meat export policy, the shipments of beef (meat of cow, oxen and calf) is prohibited.

Bone in meat, carcass, half carcass of buffalo is also prohibited and is not permitted to be exported.Only the boneless meat of buffalo, meat of goat and sheep and birds is permitted for export.

She said in a written reply to the Lok Sabha that the processed meat exports from the country stood at Rs 2.82 crore during April-January period this financial year.

India exported sheep/goat and birds’ meat worth Rs 727.16 crore and Rs 22,073.5 crore during the period respectively.Replying to a separate question, the minister said that India is consistently taking up the issue of tightening norms for skilled foreign workers with the UK at the highest levels.

“The UK government has been urged to not accept the recommendations of the Migration Advisory Committee in the interest of the bilateral trade in services” between the countries, she added.