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Export From India to CIS Countires.




Introduction
Commonwealth of Independent States (CIS) was founded in 1991 after the dissolution of the Soviet Union. At present the CIS includes Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Uzbekistan and Ukraine. Relations between India and countries of the CIS Region have remained close and cordial since the Soviet era. However, bilateral trade and commercial relations of India have not grown commensurately with these newly formed countries. Due to the factors like distance, language barrier, inadequate transport facility, inadequacy of information about business opportunities CIS only constitutes 1.2% share in India's total exports.

Major Trading Partners in the CIS Region
Russia, Ukraine, Kazakhstan, Uzbekistan, Kyrgyzstan, and Belarus are India's major trading partners, constituting more than 90% of India's total bilateral trade with the CIS countries.

Major Items of Exports
India's major items of export to this region are : cotton, drugs, pharmaceuticals coffee, tea tobacco machinery & instrument, processed mineral, plastic and Linoleum products gem & jewellery, transport equipment, etc.

India CIS Trade Relations - Armenia
Despite a trade agreement being signed, India's trade with Armenia after independence has been not worth mentioning. Indian exports to Armenia in 2002 were worth US$ 5.6 million which mainly includes car batteries, chemical goods, pharmaceuticals, and electrical equipments.

India CIS trade relations – Georgia
Trade relations between India and Georgia were established in 1992, according to which two countries agreed that there would be cooperation within the framework of Indian Council for Cultural Relations and Indian Technical and Economic Cooperation. Trade turnover between India and Georgia in 2006 was US$ 20,521,700. Laws on tariffs have been simplified and so far the trend has been such that India's exports to Georgia have been more than Georgia's exports to India.

India CIS Trade Relations – Ukraine
Ukraine is the second largest trade partner of India in the CIS region, after the Russian Federation. Diplomatic relations between India and Ukraine were established way back in the 1960s. In March, 1992 a treaty on friendship and cooperation was signed to strengthen bilateral trade. More than 17 bilateral Agreements have been signed between India and Ukraine, including agreements on Cooperation in Science and Technology, Foreign Office Consultation, Cooperation in Space Research, Avoidance of Double Taxation and Promotion and Protection of Investments. The amount of bilateral trade that took place between the two countries in 2004 was worth more than $500,000. India mainly exports pharmaceutical products to Ukraine.

India CIS Trade Relations – Latvia

In 1991, diplomatic relations between the two countries were formed. Bilateral trade relations between these two countries are not very intense due to inaction on both sides. Import to Latvia amounted to US$ 16,954,219 and the export stood at US$ 2,554,392 in 2005. The major export items from India include pharmaceuticals and healthcare products, telecommunications, IT and software, development; heavy engineering; export of textiles gems and jewellery, chemicals and dyes, vegetables and fruits, leather and leather products and third country exports.

India CIS Trade Relations – Estonia
Diplomatic relations between the two countries were established in December, 1991. In 2005, the total amount of bilateral trade that took place was €19.6 million. India mainly exports vegetables, chemical, and textile products to Estonia.

India CIS Trade Relations – Lithuania
In July, 1993 an Agreement on Trade and Economic Cooperation was signed between India and Lithuania. India mainly exports pharmaceuticals, paper, and textiles items to Lithuania. The major items imported from India include pharmaceuticals, paper, and textiles. Lithuania exports cement, metals, sulphur, and base metals. The total bilateral trade between the two countries stands at US$ 47.06.

India CIS Trade Relations – Belarus
In 2005, India's trade turnover with Belarus amounted to around US$ 118.3 million. The export items from India include pharmaceuticals, tea, rice, pepper, yarn, organic dyes, machine and electrical equipments.

 

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What is New?

Date: 18-12-2014
Customs Circular No 17/2014
Regarding authentication of supply invoice/ ARE-3 by the Central Excise Authorities for Claiming Deemed export benefits

Date: 18-12-2014
Customs Circular No 15/2014
Regarding norms for Execution of Bank Guarantee in respect of Advance License/Export Promotion Capital Goods (EPCG) Schemes

Date: 18-12-2014
Customs Circular No 16/2014
Regarding re-warehousing of goods imported and/or procured indigenously by EOU/EHTP/STP/BTP units

Date: 18-12-2014
Customs Notification No 116/2014 (NT)
Rate of exchange of conversion of each of the foreign currency with effect from 19th December, 2014

Date: 18-12-2014
DGFT Public Notice No.78/(RE 2013)/2009-14
Deferment of implementation of the procedure for export of certified organic products.

Date: 17-12-2014
RBI/2014-15/360 A.P. (DIR Series) Circular No.51
Foreign Exchange Management (Deposit) Regulations, 2000 - Exemption thereof

Date: 17-12-2014
Customs Notification No 115/2014 (NT)
Amends Exchange Rate notfn. 113/2014-Customs (NT) effective from 18th December, 2014

Date: 17-12-2014
Central Excise Circular No. 991/07/2014-CX
Amendment to CESTAT Appeal Forms

Date: 16-12-2014
RBI/2014-15/357 A.P. (DIR Series) Circular No.49
Money Transfer Service Scheme – Delegation of work to Regional Offices-Submission of Statements / Returns

Date: 16-12-2014
RBI/2014-15/358 A.P.(DIR Series) Circular No.50
Rupee Drawing Arrangement – Delegation of work to Regional Offices-Submission of Statements / Returns