CBEC to give swift clearance for bulk cargo export
The Dollar Business Bureau In yet another attempt to remove export bottlenecks and ease outbound shipping procedures, the government has decided to exempt bulk cargo from sealing in packages or containers, thus reducing delays in export consignments. The decision was taken after traders’ bodies expressed concern about their problems in sealing of bulk cargo for export, especially for goods such as coal, iron-ore, alumina concentrate and heavy machinery. They sought for a simple procedure for exports of such articles. “The matter has been examined. Notification has been amended, thereby exempting bulk cargo from sealing in packages or container. The Central Excise has been empowered to grant exemption from self-sealing of bulk cargo for export on case to case ...
India to reduce export documents to three by April 2015
The Dollar Business Bureau | @TheDollarBiz Softening commodity prices and an uneven global recovery hurt India's exports in October 2014 The Indian government has fast-tracked efforts to reduce export barriers and improve Ease of Doing Business to boost manufacturing and revive exports. India’s exports slipped into the negative list in October 2014 y/y for the first time since April 2014. Exports have declined due to several factors such as dipping global commodity prices, strengthening rupee against the USD, and a slowdown in Europe. Experts say that the uncertainty over the release of the new Foreign Trade Policy isn’t helping exporters and the government must take immediate steps to address the decline in exports. Earlier this month, M Rafeeque Ahmed, President, ...
