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India's overall exports grow by 17.01 per cent

Dec 13, 2018

India's overall exports including merchandise and services have increased a positive growth of 17.01 per cent during April-September of 2018-19 as compared to the corresponding period of previous year, Minister of State for Commerce and Industry CR Chaudhary informed the Rajya Sabha in a written reply.
 
During April-September of 2017-18, India's total export value was pegged at US $ 226.08 billion, which increased to US $ 264.54 billion during April-September period of the current financial year, the minister said.
 
In order to boost India's exports, the Central government has taken several measures through new Foreign Trade Policy (FTP) 2015-20 launched on April 1, 2015, its mid-term review released on December 5, 2017, and other policy measures taken from time to time, he added.
 
According to Chaudhary, FTP 2015-20 provides a framework for increasing exports of goods and services as well as the generation of employment and increasing value addition in the country, in line with the Make in India, Digital India, Skill India, Start-up India and Ease of doing business initiatives.
 
The main policy objective is to enable India to respond to the challenges of the external environment keeping in view the rapidly evolving international trading architecture and make trade a major contributor to the country's economic growth and development, he said.
    
Source: Business Standard



Indian Ports Association launches 'PCS 1x' to increase ease of doing business

Dec 13, 2018

 The Indian Ports Association (IPA) has launched the port community system 'PCS1x', a cloud-based technology that offers services like notification, work-flow and track and trace, the government said Tuesday. 
 
It is estimated that this feature alone will reduce up to 2 days in the life of a transaction. 
 
This system will enable trade to have an improved communication with the customs as they have also embarked on an Application Programming Interface (API) based architecture, thereby enabling real time interaction, the Ministry of Shipping said in a statement. 
 
IPA, under the guidance of Ministry of Shipping launched the Port Community System 'PCS1x'...'PCS 1x' is a cloud based new generation technology, with user-friendly interface. This system seamlessly integrates 8 new stakeholders besides the 19 existing stakeholders from the maritime trade on a single platform,the statement said. 
 
The platform offers value added services such as notification engine, work-flow, mobile application, track and trace, better user interface, better security features, improved inclusion by offering dashboard for those with no IT capability, it said. 
 
A unique feature of 'PCS1x' is that it can latch on to third party software which provides services to the maritime industry thereby enabling the stakeholders to access wide network of services, it said. 
 
The system enables single sign on facility to provide one stop interface to all the functionalities across all stakeholders, it said, and added that another major feature is the deployment of a world class state of the art payment aggregator solution which removes dependency on bank specific payment ecosystem. 
 
The statement said the system offers a database that acts as a single data point to all transactions. It captures and stores data on its first occurrence thereby reducing manual intervention, the need to enter transaction data at various points and thereby reducing errors in the process. 
 
The application will have a cascading effect in reducing dwell time and overall cost of transaction. The platform has the potential to revolutionize maritime trade in India and bring it at par with global best practices and pave the way to improve the Ease of Doing Business world ranking and Logistics Performance Index (LPI) ranks, the statement said. 
 
    
Source: Times of india



New air cargo facility to boost agro processing

Dec 13, 2018

 Though the agro-processing industry in South Gujarat is in a nascent stage, the Agriculture Produce Market Committee (APMC), Surat, has made a beginning by sending mango pulp to the US and Canada last year.
 
APMC has acquired licence to export from Agricultural and Processed Food Products Development Authority (APEDA) and entered into contracts with 10 international exporters who do business in the US, UK, Canada and UAE to lift the processed fruit pulp from Surat on a daily basis for international market.
 
The plant set-up by APMC has the capacity to process 60 metric tonnes of fruit pulp on daily basis. It has also started making puree from juicy vegetables like tomatoes and other local fruits like guava, banana and sapota (chickoo). 
 
Starting from mango pulp to dried chickoo and all types of frozen vegetables, the South Gujarat region has it all. All types of vegetables and fruits, including their variants, could form a rich export market for gulf countries, the US and UK, earning more than Rs 1,000 crore in the next five years. On the other hand, shrimp farming in South Gujarat has gained prominence over the last decade with export potential of more than Rs 900 crore. Majority of the shrimp export is done from Mumbai and South India ports.
    
Source: Times of india



Chief Secretary, Uttaranchal holds talks for increasing the volume of export with Union Commerce Secretary.

Dec 13, 2018

Uttarakhand chief secretary Utpal Kumar Singh met the Union commerce secretary Anoop Vadhawan at the Secretariat here on Wednesday and discussed ways to increase the volume of export from the State. Singh said that there are ample opportunities of investment in the realms of Yoga and Ayush in Uttarakhand.
 
He further said that he expected the Centre to act on the proposal of the State Government for setting up of Spiritual Economic Zones and instructed the secretary concerned to send the proposals to the Union Government.
 
Mention worthy, the State export accounts for 0.5 per cent of the national export rate in agriculture, pharma and other products.
 
CS requested the Centre to help in reducing the logistic costs to double the volume of the State’s export. He also put forth a proposal for help in extending cargo facilities for mushroom produced in the State. The Union commerce secretary said that a meeting between the Air India and the State Government officials would be held soon on the matter. Besides, the chief secretary had a telephonic conversation with the vice-chancellor of Pantnagar University to expedite the work of certification in a bid to boost exports of agricultural produce. Notably, the Centre has authorised the Pantnagar University for certification of agriculture produce for exports.
 
Chief secretary said that the State Government expected necessary cooperation in its proposed projects related to the export-linked infrastructure development under the Trade Infrastructure For Export Scheme (TIES) of the Government of India. Secretary, Commerce asked the State Government to send maximum proposals under the scheme.
 
CS also drew the attention of the secretary towards the delay in GST refund to the exporters to which the latter assured prompt action to resolve the matter.
 
Secretary Commerce said that during his talks, rice exporters of the State had demanded the merchant exporters in the State be allowed concession in Market Fee. I have asked the chief secretary to consider the matter, he said after the meeting was over.
 
It was also informed at the meeting that the export policy of the State would be brought before the Cabinet soon.
 
The meeting was attended by the president APEDA Paban Kumar Bor Thakur, Union joint secretary Commerce Keshav Chandra, executive director  FIEO Ajay Sahay, Uttarakhand secretary R K Sudhanshu, D Senthil Pandian, R Meenakshi Sundaram and director Industries Sudhir Nautiyal among others.
 
Aside from the meeting, the Union commerce secretary chaired a discussion oragnised by Federation of Indian Export Organisation (FIEO) and Industry Directorate, Dehradun on the issue of Export policy of Uttarakhand with the exporters, trade organisations and different departments in Dehradun.
    
Source: Daily Pioneer



FIEO urges new RBI Governor Shaktikanta Das to ensure smooth flow of credit to exporters

Dec 13, 2018

Exporters body FIEO Wednesday urged new RBI Governor Shaktikanta Das to ensure smooth flow of credit to the sector as decline in the funds will hit outbound shipments. 
 
 
Das, former economic affairs secretary, has assumed charge as the RBI Governor. 
 
We hope that the new Governor will ensure flow of credit to exports sector which is declining sharply on year on year basis, affecting the liquidity of exporters particularly the MSMEs," Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta said in a statement. 
 
The commerce ministry has yesterday stated that it is working closely with the finance ministry to take measures for ensuring adequate availability of funds to exporters. 
 
He also said that while exchange rate is market driven, RBI's intervention is essential to stem extreme volatility in rupee as it is not beneficial for exporters or importers. 
 
A movement of rupee in narrow band of 5 per cent would be more appropriate for export sector as near predictability in rate would reduce the cost of hedging as well, he added. 
 
Further, he said that the new governor will act as an effective bridge between the government and the central bank, so as to give necessary boost to economy. 
    
Source: Economictimes.indiatimes



India's sugar package purely domestic issue, has not distorted global trade: Commerce Min

Dec 13, 2018

India has informed the WTO that its sugar package is purely a domestic issue and has not distorted international trade in the commodity, the government said Wednesday.
 
A number of questions on India's sugar policies has been raised in the WTO Committee on Agriculture from time to time by various members including the EU, Australia, New Zealand, Brazil, Canada, and Russia, Union Minister C R Chaudhary said in a written reply to Rajya Sabha.
 
He said that recently, Australia submitted a communication to WTO on India's measures to provide market price support (MPS) to sugarcane, stating that New Delhi has provided this support vastly in excess of the limits allowable under the global trade rules.
 
India is a member of the World Trade Organisation (WTO), which frames rules for global exports and imports.
 
In November 27 meeting of WTO Committee on Agriculture, India informed the members that various measures have been taken to address the concerns related to unpaid sugarcane dues of farmers and the liquidity crisis affecting sugar mills.
 
It was clarified that India's sugar package is purely a domestic issue and has, in no way, distorted international trade in sugar as it is compliant to India's obligations in WTO, he added.
    
Source: Business Standard



Ministry of MSME-CII Global Summit to address significance of global value chains for SMEs

Dec 13, 2018

The upcoming CII 15th SME Global SME Business Summit being held in partnership with Ministry of MSME in the capital on 19-20th Dec 2018 will stir up a range of discussions aimed at fostering global MSME growth. 
 
A host of established names from the industry will engage in interactive sessions on the export potential of the MSME sector, identifying strategic markets and the increasingly important role of e-commerce to bolster trade. 
 
 
The theme this year centres around “Building Partnerships Through Global Value Chains.” Shreekant Somany, Chairman, CII National MSME Council says, The objective of the summit is to apprise the SMEs on the significance of global value chains in the development paradigm, the importance of connecting to the global platform as well as the current trends and best practices that can be employed by SMEs of different countries to aid their profitable integration with global value chains. 
 
He highlights how such value chains provide a window of opportunity for the SMEs to step outside the usual domestic market and initiate their quest in the global market. SMEs with their moderate financial capabilities find it difficult to connect completely to the global market through meeting their standards and quality. In such circumstances, global value chain offers them to be a part of exports by producing intermediate goods for larger players be it domestic or international, he adds. 
 
MSMEs constitute almost 95% of the total industries in India. Contributing to almost 8% of the national GDP, they comprise a crucial component of the Indian economy. Hence, connecting the SMEs to global value chains is a crucial step to boost not just their development but also to build the economic growth of the country. 
 
    
Source: Economictimes.indiatimes



IIFT organising two-day research conference on global trade, finance from Thursday

Dec 13, 2018

The commerce ministry's IIFT said it is organising a two-day research conference starting from Thursday to provide a platform for academic debate and knowledge sharing on issues related to international trade and finance.
 
The Indian Institute of Foreign Trade (IIFT), a deemed-to-be-university, is under the administrative control of the ministry.
 
The conference, to be inaugurated by Commerce and Industry Minister Suresh Prabhu, will be attended by renowned academicians from across the globe, policymakers and economists from various multilateral agencies such as OECD, ILO, and UNESCAP.
 
The participants will exchange views and knowledge in different domain of research in trade and finance.
 
The sixth research conference on Empirical Issues in International Trade and Finance will be organised at its New Delhi campus, IIFT said in a statement Wednesday.
 
Besides lectures by guests and technical sessions, there will be four policy forums on trade and employment challenges in South Asia, bilateral investment treaty, emerging issues in international trade negotiations, and trade, technology and global value chain, it added.
    
Source: Business Standard



US Commerce Secretary to visit India in February for commercial dialogue

Dec 13, 2018

US Commerce Secretary Wilbur Ross has said that he will visit India in February to attend the bilateral commercial dialogue and the Trump administration is sending a major trade mission to the country next year. 
 
I'm happy to report that I'm scheduled to visit India this coming February. I'll be co-chairing the US-India Commercial Dialogue and the US- India CEO forum with my Indian counterpart, (commerce and industry) minister (Suresh) Prabhu," Ross said at a farewell reception organised for the outgoing Indian Ambassador to the US, Navtej Singh Sarna. 
 
Some 200 guests, including top officials of the Trump administration, diplomats, eminent Indian Americans and top corporate executives attended the farewell reception for the top Indian diplomat, who is retiring later this month. 
 
Highly appreciative of the role played by Sarna in strengthening the US-India relationship during his tenure as the Indian envoy, Ross said that Sarna has laid the ground work for more to come. 
 
Thank you for your efforts to improve our bilateral relationship and enrich our economic, military, and cultural ties, Ross said. 
 
Noting that India is held in great esteem in the US, Ross said the Trump administration wants to continue to build on the commercial ties that exists between the two vibrant democracies. 
 
During my previous career, I made a number of investments in India,he said, adding that that experience taught him firsthand the vast potential that exists in the fast-growing Indian market. 
 
    
Source: Economictimes.indiatimes



Mainline vessel docks at VOC Port, enables direct export

Dec 13, 2018

 M V Wan Hai 510, a mainline vessel operated by Wan Hai Lines Limited, became the first of its kind to have berthed at the VO Chidambaranar Port in Tuticorin. The ship  measuring 268.8 metres long and 32.3 metres wide made its maiden voyage to Dakshin Baharat Gateway Container Terminal and reached there at 11.45 am on Wednesday. 
 
 
This mainline service has made possible direct export and import to the Far East countries without their dependence on Colombo, Sri Lanka. Through a video conferencing, the first import container was jointly flagged off by union minister for shipping, road ways and water resources Nitin Gadkari, chief minister Edappadi K Palaniswami, minister of state for road transport and highways, shipping, chemical and fertilizers Mansukh L Mandaviya and minister of state for shipping and finance Pon Radhakrishnan.
 
It makes Tuticorin only the second port in the state, after Chennai, to handle motherships. This China India-2 (CI-2) mainline vessel connects with two Malaysian ports - Penang and Port Klang - and Chinese ports Hong Kong, Qingdao, Shanghai, Ningbo and Shekou. With six vessels having a carrying capacity of 4,333 TEUs (containers), it calls on Tuticorin Port every Tuesday. So far, exporters and importers from Tuticorin Port sent consignments to the Colombo port, from where the mainline ships took them to their destinations.
 
Nitin Gadkari affirmed that the call of the first mainline container vessel will be a game-changer in container traffic in South India. Customers can save around 50 US $ per container compared to Colombo handling charges. This port has become a mainline vessel port. Having a high potential, it will soon become a transshipment port, he said and added that in the last four years, the port has made investments to the tune of Rs 1,500 crores towards infrastructure improvement.
 
Edappadi Palaniswami said the historic mainline service will boost exports in Tamil Nadu and the overall economic growth in Southern Tamil Nadu. Pon Radhakrishnan said that VOC Port has grown as a major container handling port in the country from being a major port in 1974. Minister Mansukh Mandaviya stated that the strategic location of the port close to the East West trade route and draft of 14 metres is poised to make it a transshipment hub of South India, with an added advantage of handling gateway cargo as well.
 
Deputy Chairman of port N Vaiyapuri told reporters that the mainline vessel brought 320 containers to Tuticorin and will be carrying around 260 containers export from the port. “A European mainline CMA CGM has showed interest in calling on the Tuticorin port and will be calling on shortly. It will be a boon for exporters from Coimbatore, Pollachi and Tirupur. We will be marketing in Coimbatore region to send their exports from Tuticorin,” he said. Vaiyapuri said that they waived 100% handling charges for M V Wan Hai 510 on its maiden berth and added that 60% of the charge will be waived for other mainliners directly calling on the port. 
 
    
Source: Times of india



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