FIEO offers digital certification of origin facility

Leading industry chamber of Indian exporters FIEO has started the facility of the digital certificate of origin (both non-preferential and preferential, for which it is authorized) using FIEO’s online CoO system. The facility will reduce the transaction time and cost of exporters also. The facility is expected to help exporters in sending CoO electronically to buyers to help them clear the consignment particularly as most of the courier companies are not operating in the country. Many of the countries are now accepting scanned /digital copies of the Certificate of Origins. FIEO is also updating information…

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Warehouse, FPO modules added in e-NAM platform

The Union Minister of Agriculture & Farmers’ Welfare, Rural Development and Panchayati Raj, Narendra Singh recently launched new features of National Agriculture Market (e-NAM) Platform   to strengthen agriculture marketing by farmers which will reduce their need to physically come to  wholesale mandis  for selling  their harvested produce, at a time when there is critical need to decongest mandis to effectively fight against COVID-19. These software modules are namely (i) Warehouse based trading module in e-NAM software to  facilitate trade from warehouses based on e-NWR (ii)  FPO trading module in e-NAM…

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Lifting of restriction on freight movement draws mixed response

India’s battle against the deadly Coronavirus may be far from reaching a conclusive stage, but the government surprised all by lifting restrictions on road transportation of non-essential commodities across the country early last week…   To read complete report, please visit: https://www.indoasiancommodities.com/2020/03/31/lifting-of-restriction-on-non-essential-commodities-draws-mixed-response/

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Global shipping associations seek G-20 intervention

Two leading associations representing global shipping industry last week sought intervention by G-20 to facilitate minimal restrictions for ships and crews. The International Chamber of Shipping (ICS) association and the International Association of Ports and Harbors (IAPH) jointly made the plea to ease the restrictions (ships and their crews being in a quarantined phase at several places) to ensure the flow of essential items globally. These restrictions have been imposed in response to Coronavirus menace. “ Ensuring that seafarers can travel without undue restriction will be key to maintaining the…

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Export body seeks extension of Foreign Trade Policy

FIEO, apex association of exporters, has recommended a slew of measures to the government to help the fraternity in combating the unprecedented crisis caused by Coronavirus threat. This includes extension of the Foreign Trade Policy 2015-2020 (also extension of Status Holder Certificates till March end next year). The association has also suggested amnesty scheme for old Advance, EPCG and EOUs for regularization of default by payment of only Customs duty without interest and penalty to lessen the burden on industry. Other key recommendation includes extension of Export Obligation (EO) of all advance/EPCG…

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Redressal cell to control food processing supply chain disruption

On 26th of March, Union Food Processing Industries Minister Smt. Harsimrat Kaur Badal informed setting up of a Grievance Redressal Cell in the Ministry to ensure that problems faced by food processors during the COVID-19 lockdown are resolved at the earliest. Smt.HarsimratKaur Badal said that industry members facing any problem in operations and distribution of food products could send their queries to covidgrievance-mofpi@gov.in.            Earlier , Secretary, Ministry of Food Processing Industries (MoFPI), Smt. Pushpa Subrahmanyam had written letter to Chief Secretaries of all states regarding need for continued functioning…

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More than 34000 freight wagons deployed in a single day

On the 3rd day of the nation-wide complete lock down (27th March), 34648 railways freight wagons carried supplies across  the country to keep the supply chains functional. Of these, 23682 wagons of essential commodities were ferried by Indian Railways in 425 rakes to ensure that the supply chains keep functioning. The total number of wagons carrying essential commodities during the last week reached approximately 1.25 lacs. Out of the total 23682 wagons which were loaded for essential commodities, there were 1576 wagons of foodgrains, 42 wagons of fruits and vegetables,…

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40 crore trade workers, one crore transporters joined Janta Curfew

 In support of Prime Minister Narendra Modi’s call for Janata curfew, more than 7 crore traders across the country, led by the Confederation of All India Traders (CAIT), closed their businesses today and nearly 40 crore of their employees stayed at their homes and participated in Janta curfew. In a press release, the association further claimed that about 60 thousand commercial markets all over the country remained completely shut with no business activities. Joining hands with CAIT, about 1 crore transporters, 4 crore hawkers and about 2 crore small scale…

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Fuel demand drops in India as coronavirus strikes

India’s fuel demand has dropped by a steep 10-11 per cent in the first two weeks of March as the outbreak of coronavirus (Covid-19) led to the cancellation of flights and reduction in industrial activity. The country had consumed 19.5 million tonnes of petroleum products in March 2019, official data showed. Assuming consumption in two halves of the month was almost the same, as much as 10 million tonnes of fuel was consumed during the first fortnight of March 2019. “The petroleum industry is witnessing the impact of coronavirus on…

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Time extension for solar projects hit by supply chain disruption

The ministry of new and renewable energy (MNRE) has notified facilitating time extension to solar power projects which are likely to get affected by supply chain disruption in China following Coronavirus crisis. India presently imports over 85 percent of its total requirement of solar panels. “All Renewable Energy implementing agencies of the Ministry of New & Renewable Energy (MNRE) are hereby directed to treat delay on account of disruption of the supply chains due to spread of coronavirus in China or any other country, as Force Majeure,” MNRE said in a public…

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