Wait...
  1. Home >
  2. Export Import News >
  3. Economy News >
  4. COVID-19: Foreign trade policy may get extended >
  5. COVID-19: Foreign trade policy may get extended

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

COVID-19: Foreign trade policy may get extended.


Date: 28-03-2020
Subject: COVID-19: Foreign trade policy may get extended
NEW DELHI: The government is likely to extend the existing Foreign Trade Policy by six months to September 30 in the wake of the Covid-19 outbreak. A decision is expected in a couple of days, officials said.

“There is a request to extend the extant policy from many export promotion councils; we are looking at it,” an official aware of the development told ET.

The request was made at a videoconference commerce and industry minister Piyush Goyal held with industry representatives on Friday to assess the impact of the Covid-19 outbreak and the ongoing lockdown in the country, and to get their feedback and suggestions in ameliorating the situation.

“Industry said it is not desirable to make changes at this juncture,” a second official said. We are in advanced stages of consideration and will decide soon.

The government had begun stakeholder consultations for the new policy which is likely to have a separate chapter on ecommerce and focus on import substitutions to make India self-reliant.

Exports from India touched $292.9 billion in the 11 months to February 2020, while imports were $436.03 billion.

At the meeting with Goyal, industry representatives also called for some more measures to boost the country’s sagging exports before the new policy is implemented.

China is back on its feet and has increased the export tax rebate for its exporters which has put India’s export markets and orders at risk, they said.

“The issue of other countries accepting digital copies of documents came up, especially because courier services are not operational,” said an industry representative who attended the videoconference.

High fixed charges of electricity and expanding the Employee State Insurance and Provident Fund cover to all industrial workers for three months were also discussed.

“The EPCs apprised of the impact of the pandemic on their activities and businesses, and made a range of suggestions to overcome the hardships,” the commerce and industry ministry said in a statement.

Source:- economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 01-06-2020
Notification No. 08/2015-2020-DGFT
Amendment in Export Policy of Alcohol based Hand Sanitizers

Date: 01-06-2020
Public Notice No. 07/2015-2020
Amendments in the Appendix 3B, Table 2 of the Merchandise Exports from India Scheme (MEIS)

Date: 01-06-2020
Public Notice No. 09/2015-2020
Amendments in the Appendix 3B, Table 2 of the Merchandise Exports from India Scheme (MEIS)

Date: 01-06-2020
Trade Notice No. 13/2020-21-DGFT
Implementation of MoU between India and Mozambique for import of pigeon peas and other pulses grown in Mozambique during 2020-21

Date: 01-06-2020
Instruction No. 08/2020-Customs
24x7 Customs Clearance at all the Customs Stations - reg

Date: 29-05-2020
Circular No. 26/2020-Customs
Review of Circular No. 17/2020 dated 03.04.2020 namely, 'Measures to facilitate trade during the lockdown period- section 143 AA of the Customs Act, 1962'

Date: 29-05-2020
Notification No. 48/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 28-05-2020
Notification No. 07/2015-2020
Amendment in Export Policy of Paracetamol API

Date: 28-05-2020
Instruction No. 7/2020- Customs
Special drive for disposal of applications for fixation of Brand Rate of Duty Drawback.

Date: 27-05-2020
Notification No. 9/2020-Customs (ADD)
Seeks to levy definitive anti-dumping duty on imports of 'Electronic Calculators of all types excluding calculators with attached printers, commonly referred to as printing calculators; calculators with ability to plot charts and graphs, commonly referred to as graphing calculators; programmable calculators',originating in, or exported from, People's Republic of China for a period of five years, in pursuance of final findings of sunset review investigations issued by DGTR and in supersession of the notification No. 24/2015- Customs (ADD), dated the 29th May, 2015.



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001