Forex, Foreign Exchange in India, Export Procedure, Exim Policy

Forex Rate

2010-01-19T03:23:00.000-08:00

Important links for Exporter & Importer

2010-01-12T02:52:00.000-08:00

For Exim procedure & Policy
DGFT (Goverment Site)
http://dgft.delhi.nic.in

Excise (Goverment Site)
http://www.cbec.gov.in

Export Logistics / Shipping
www.export911.com

Container Dimention

2010-01-10T03:26:00.000-08:00

22/2009-2014//23.12.2009//Prohibition on import of milk and milk products from China.

2010-01-09T21:47:00.000-08:00

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY
PART-II, SECTION-3, SUB SECTION (ii)
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DEPARPTMENT OF COMMERCE

NOTIFICATION NO. 22/2009-2014
NEW DELHI, DATED 23rd DECEMBER, 2009

Subject : Prohibition on import of milk and milk products from China.

S.O. (E) In exercise of powers conferred by Section 5, read alongwith Section 3(2) of the Foreign Trade (Development and Regulation) Act, 1992, also read alongwith paragraph 2.1 of Foreign Trade Policy, 2009-14, the Central Government hereby further extends the prohibition on import of milk and milk products including chocolates and chocolate products and candies/ confectionary/ food preparations with milk or milk solids as an ingredient, from China, imposed vide Notification No. 67(RE-2008)/2004-2009 dated 1st December, 2008 and extended vide Notification No. 111(RE-2008)/2004-2009 dated 16th June, 2009, for a period of six months from 24th December, 2009 and until further orders.

2. This issues in public interest.

Sd/-
( R.S. Gujral )
Director General of Foreign Trade and
Ex-officio Special Secretary to the Government of India

(Issued from F.No.01/93/180/898/AM99/PC-2(A)

23/2009-2014//08.01.2010//Import policy of items under Exim Code “7208”.

2010-01-09T21:33:00.000-08:00

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY
PART- II, SECTION - 3, SUB SECTION (ii)
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
DEPARTMENT OF COMMERCE

NOTIFICATION NO. 23/ 2009-2014
NEW DELHI, DATED 8th JANUARY, 2010

Subject : Import policy of items under Exim Code “7208”.

S.O. (E) - In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2009-2014, the Central Government hereby amends Schedule – I (Imports) of the ITC (HS) Classifications of Export and Import Items as under:

1. Import policy for the items under 4 digit Exim Code “7208” will be amended to read as “Free” (instead of “Restricted “).

2. This issues in public interest.
sd/-
( R.S. Gujral )
Director General of Foreign Trade and
Ex-officio Special Secretary to the Government of India

[Issued from F.No. 01/89/180/46/AM09/PC-2(A)]

Decline in import and export values continues

2010-01-06T23:21:00.000-08:00

The value of both merchandise imports and exports fell in November 2009 compared with November 2008, down 22.0 percent and 16.7 percent, respectively, Statistics New Zealand said today. This is the eighth consecutive monthly fall for imports and the sixth consecutive month that exports have fallen compared with the same month of the previous year.

The import and export trends (which remove seasonal and irregular fluctuations) have continued to decline since peaking in the latter half of 2008. The imports trend has fallen 25.7 percent since peaking in August 2008, although the rate of decline in the trend has been easing in recent months. The trend in export values has fallen 15.5 percent since peaking in October 2008.

Most commodity categories contributed to the $938 million fall in imports in November 2009. The largest contribution came from mechanical machinery and equipment (down $137 million or 25.9 percent).

Petroleum and products was the next largest decrease and was led by falls in crude oil and automotive diesel, both mainly due to lower prices.

Similarly, most commodity categories contributed to the $614 million fall in exports in November 2009.

Milk powder, butter, and cheese, the largest export category (down $250 million or 24.9 percent), was the largest decrease. This fall was led by unsweetened whole milk powder, despite quantities being 48.0 percent higher than in November 2008.

Not by domestic policy alone

2010-01-06T23:17:00.000-08:00

The export spurt in November, ending 13 months of decline, is definitely good news. However, the magnitude of export growth, 18 per cent, is
largely on account of the low base, the shrunken export figure for November 2008, in the post-Lehman crisis.

The decline in imports is definitely not good news. Imports were lower than in the corresponding month a year ago by 2.6 per cent. But if you look at non-oil imports alone, these were 5.9 per cent lower than a year ago. Without more disaggregated data, it is not possible to make a clear judgment, but lower imports are not good news, as imports fuel domestic economic activity.
The only saving grace is that the decline in November is a far cry from the decline in non-oil imports of nearly 24% for the April-November period. So, recovery is on, but the recovery is still not entirely robust. Federation of Indian Export Organisations president A Sakthivel has cautioned against early withdrawal of either the stimulus package or interest subsidy on exports. He has a point.

For better policymaking, better data availability is a must. There is plenty of scope for speeding up data collection and analysis on our foreign trade. In these days of electronic compilation of information, why should it take the government so long to collate the data? After the commissioning of the Reliance refineries, petroleum exports are a major component of India’s overall exports. It would be a simple matter to make data on this item available, along with the data on oil imports.

Govt considering ban on cotton export

2010-01-06T23:15:00.000-08:00

LAHORE: On the demand and pressure of a few elements with vested interests, the government is once again contemplating to ban the export of cotton, which is being opposed by the business community. The Farmers’ Associates Pakistan (FAP) feels this being detrimental to the interest of the farmers has caused lot of concern and anguish to the cotton growers. Farmers are surprised about the double standards of the policymakers wherein everyone talks about free economy and despite farmer’s hue and cry and reservations cotton was allowed to be imported form India last year, resulting is huge losses to the farmers. At that juncture, the government did not accept farmers’ point of view so why should now they even consider adopting a policy by succumbing to the pressure of a very small group of vested interests for timely gain and be a party to cause loss to farmers thereby undermining the present short-term price advantage at the fag end of the cotton crop. In fact this is tantamount to nullifying the importance and contribution of the agriculture sector in strengthening our economy. Textile mill owners also resent this ban and realise that cotton growers are their raw material producers, providers and partners and not their competitors and unless their interest is taken care of, they would also suffer eventually. It is imperative that cotton farmers and textile industry should try and formulate a joint strategy to overcome such crisis now and for the future to carve out sustainable and practical measures for mutual benefit. The farmers feel that the cotton export should not be banned and prevalent trend or policy of the cotton marketing based on market forces be allowed to prevail. However, FAP wishes to extend invitation to the textile bodies to a dialogue to discuss and formulate a unified and mutually beneficial stance for now and the future

Spain Export, Import Prices Fall In November

2010-01-06T05:37:00.000-08:00

Spanish export prices dropped 1.7% year-on-year in November, slowing from the 3.5% decrease in the previous month, Madrid-based National Statistics Institute reported on Tuesday.

By economic destination of goods, export prices dropped 1.4% annually for consumer goods and down 5.1% for intermediate goods.

Meanwhile, import prices registered a decrease of 3.1% in November compared to a year ago. That came after a 7.2% decline in October.

On a monthly basis, export and import prices increased 0.3% and 0.6%, respectively.

Spanish export prices dropped 1.7% year-on-year in November, slowing from the 3.5% decrease in the previous month, Madrid-based National Statistics Institute reported on Tuesday.

5th China Chemical Transportation, Warehouse and Logistic Forum 2010 Held in Shanghai

2010-01-06T05:30:00.000-08:00

SHANGHAI - (Business Wire) Chemical industry is recovering in second half 2009. Enterprises started construction of new projects for capacity expansion. Premium auxiliary facilities such as warehouses, storage and docks are a little bit fewer than demand. Warehouse enterprises are to go through a reshuffle. Production, transportation and warehousing of chemical industry are hampered since resource plans at ports, transfer stations and bonded ports lags behind market condition, and railway transportation is monopolized. Copenhagen Climate Conference also alarms environmental-protection issue of chemical production and transportation.

2010 World Expo is approaching. The six-month event covers a wide range of countries and regions, exerting high requests on efficient integration of water, land and air transportation, which are the highlights among insiders.

How do enterprises deal with environmental logistic crisis in such context? How to work out and unify policies in water, land and air departments during world expo? How do enterprises adopt emergency measures? Where is the launch of products and new projects? How is the import and export growth in various regions? How is the integration of resource distribution at warehouses and docks? What is the developing trend at ports and international transfer stations? How do enterprises integrate supply chain amid economic recovery so as to boost rapid development of the industry?

CBI gathers industrial experts to discuss crisis and challenges when the alarm bell is ringing regarding logistic and environmental-protection issues. We have invited water, land and air governmental organizations for transportation limits during world expo. We have also arranged web conferences ahead of the conference for latest world expo policies from MSA, Administration of Work Safety and Civil Aeronautics Administration. The conference offers you a platform to analyze petrochemical industrial trend and understand layout of warehousing, port transfer stations and railway routes to be the leading enterprises through more dynamic and professional angle.

U.S. Meat Export Federation Statement On Legislative Action By Taiwan

2010-01-06T02:24:00.000-08:00

Taiwan’s legislature today passed an amendment to its food sanitation law that will ban the import of all ground beef and offals from the United States, as well as any country that has had a BSE case, for a period of 10 years from that country’s most recent case. The legislature also approved a resolution to restrict U.S. beef imports to products derived from cattle less than 30 months of age. While this resolution is nonbinding, Taiwan may implement changes to its import requirements that reflect the resolution’s intent.
“The action taken by Taiwan’s legislature is very disappointing and has no scientific basis whatsoever,” said U.S. Meat Export Federation President and CEO Philip Seng. “Before expanding beef trade with the United States in October of last year, Taiwan's best scientists determined the safety of U.S. beef through a thorough and extensive risk assessment. That effort has now been largely cast aside, as this policy shows no regard for OIE guidelines or the controlled risk status held by both the United States and Taiwan with regard to BSE.”

Seng also noted that the blanket inclusion of ground beef and offals in this action is inappropriate on several levels. There are no scientific concerns related to BSE regarding ground beef and offals as they are produced according to the same rigorous food safety regulations as other U.S. beef products.

The action by Taiwan’s Legislative Yuan will ban the importation of skulls, brains, eyes, spinal cord, offals and ground beef from the United States and any country that has had a case of BSE until the 10th anniversary of that case. Of the three cases identified in the United States, the latest was found March 15, 2006.

On one positive note, neither action taken by the Taiwan legislature prohibits boneless or bone-in muscle cuts from under-30-month cattle. Since the new beef trade protocol between the U.S. and Taiwan was adopted in October, suppliers from the United States have voluntarily excluded ground beef and offal, limiting their shipments to under-30-month muscle cuts. Therefore, today’s actions by Taiwan’s parliament should not disrupt existing orders for U.S. beef.

Duties may shatter iron ore exporters' hopes

2010-01-05T23:26:00.000-08:00

Iron ore miners and exporters are facing double whammy at a time when the export demand is at its peak from China, the world’s largest steel maker.

Early this year the government levied a 10 per cent royalty on iron ore mining which hampered the industry for sometime. And last month, the commerce ministry levied export duty of 5 per cent on fines and 10 per cent on lumps which is likely to put a break on the pace of exports.

China requires over 700 million tonnes of iron ore to achieve the steel production target of 600 million tonnes. Out of this about 80 per cent is likely to be imported. India constitutes about 15 per cent of the Chinese ore demand.

Meanwhile, iron ore exports for FY10 may decline on unexpected customs levy as the steelmaking raw material would now become uncompetitive in global markets. The shipment of steelmaking raw materials jumped 23.23 per cent at 64.84 million tonnes until November 2009 compared with 52.62 million tonnes in the corresponding period last year.

After three months lull in the beginning of this financial year, the shipment started recovering with a surge in Chinese demand on revival of steel mills there. China, which has so far not signed long term deal with the three global iron ore majors including Rio Tinto, BHP Billiton and Vale due to price cut demand, is now looking at India and other spot markets to feed its local steel mills. The world’s largest steelmaker focused more on spot market to source iron ore at the current prevailing prices. This resulted in spot price doubling to over $100 a tonne.

“Certainly, the levy will put a break on our export target. We were eyeing at 110 million tonnes this financial year which is expected to reduce to 100 million tonnes,” said Federation of Indian Mineral Industries (FIMI) Secretary General RK Sharma.

“The export levy is totally unjustified as it has been taken without any consultation with the mining industry, particularly those engaged in the mining and export of lower grades of iron ore,” said Haresh Melwani, an iron ore miner and exporter based in Goa. Moreover, the decision is taken randomly as a knee jerk reaction, not as a planned Budgetary exercise, but as an arbitrarily imposed tax, thereby eroding the moral justification of the levy, he added.

These lower grade fines and lumps do not find any customers in the Indian steel mills, nor are any steel plants proposed in the next 20 year horizon which can utilise these fines or lumps, resulting in an unwanted burden on the export of these fines, since India’s technologies rely on coke, which is a very expensive raw material here. So all the steel plants must use high grades iron ore lumps (above 63 per cent of iron content) in order to reduce their coke consumption and produce steel economically.

BRAC Bank launches business equity loan

2010-01-05T23:15:00.000-08:00

BRAC Bank introduced Business Equity Loan for small and medium entrepreneurs yesterday.

The loan aims to help in faster expansion of businesses or to purchase commercial space by mortgaging residential or commercial premises.

Businessmen in Dhaka and Chittagong can borrow an amount ranging from Tk 10 lakh to Tk 3.5 crore under the new facility.

Customers can pay back the loan through monthly instalments over a period of up to 10 years.

Marking the start of its journey, Syed Faridul Islam, head of SME Banking of BRAC Bank, handed over the first loan sanction letter to Syed Atiqur Rahman, chief executive officer of Inquisitive Chemical Services, at a ceremony in the bank's head office in Dhaka yesterday.

AEA Muhaimen, managing director and chief executive officer of BRAC Bank, and Mohammad Mamdudur Rashid, deputy managing director, were also present.

Cabinet okays power import, export

2010-01-05T23:02:00.000-08:00

The cabinet yesterday approved in principle a memorandum of understanding with Delhi, seeking open-ended import and export of electricity with an option to purchase power from both public and private sectors of India.

A meeting of the cabinet chaired by Prime Minister Sheikh Hasina also approved a proposal to amend policy guidelines for expanding private sector's participation in generating power.

Hasina asked the authorities concerned to increase scopes for the private sector to generate power to meet the growing demand of electricity. She also directed them to fix the price of electricity on the basis of production cost.

A team of Bangladesh delegates initialled the MoU between the governments of Bangladesh and India on cooperation in power sector during their visit to Delhi in November.

Prime minister's Press Secretary Abul Kalam Azad yesterday said, "The government will sign an agreement with Delhi on the basis of this MoU during the prime minister's visit to India in January.

"As a result of the deal, both the countries will be able to sell or buy electricity from each other depending on availability, need and price of electricity," he told The Daily Star.

Asked how Bangladesh will be able to sell power to India when the country itself is facing severe power crisis, Azad said, "This [the deal] applies to a situation when Bangladesh will have surplus power."

The deal will allow Bangladesh to import not just 100MW power as proposed earlier but 400-500MW from India in the near future. Similarly, it allows the Power Development Board to sell power to India when it has surplus electricity.

Once the agreement is signed, it will take at least two years to install equipment for connectivity between the two countries.

Officials of the two countries have identified Iswardi as the best point in Bangladesh and Baharampur in West Bengal, India, for setting up the connectivity plants within the earliest possible time.

A four-member Indian team headed by a joint secretary of the Indian power ministry arrived in Dhaka on Monday and has held meetings with the Power Grid Company of Bangladesh and the PDB.

The meetings are a follow-up to the November 18-22 visit of the Bangladesh team headed by the power secretary.

The MoU also approves a joint venture power project between the PDB and the National Thermal Power Company of India, which will allow the two national companies to jointly set up power plants in the two countries.

The MoU will also allow cooperation between the organisations to develop human resources, with the National Thermal Power Company providing technical and management training to PDB staff in plant maintenance and operation.

Auto Shipping Is Facile With Exclusive Auto Logistics

2010-01-05T05:02:00.000-08:00

Car shipping is sometimes a must. For instance if you purchased a car from United States and you live in Spain and probably you do not have the right mood or opportunity to go and bring it home, then a car shipping company will do the job for you.

Automobile transport industry includes great number of shipping providers, some of them are experienced professionals others amateurs. Exclusive Auto Logistics is a family owned and operated full service auto shipping business, specializing in car dealers and individuals. This way you can get auto transport quotes and auto moving service from best auto moving company. Their reputation was built over thirty years of good and professional service.

There is some legislative requirements which standardizes the relationship between any vehicle transporter and a user. It guarantees execution of your transportation and secures your investment and grants you serenity.

When it comes to getting affordable online vehicle shipping quote, Exclusive Auto Logistics is the best choice in the market. You can easily get online vehicle shipping quotes after registering with the website in a few simple steps. The sign up process is absolutely free and you can post your shipment load details on the website.

Specialists in world-wide shipping are very important to manage transportation with ease. The reputed company will import or export any type of vehicle you own with great handling and care. All the information that should be taken care of, regarding the shipping, will be made clear by the company. This puts the customer at ease and the details or country laws of import or export also gets maintained.

The prices are some of the most competitive in the niche market and they can vary depending on what type of car you need to transport and what service of transportation do you choose. So check out and have fun choosing the best that serves your purpose!

Explore Import Export Business Opportunity

2010-01-05T05:01:00.000-08:00

A large number of goods come into and depart the coasts of every country. Most of the daily utilities that you buy from your local provision stores each day may have come from overseas nations. They come from all over the globe to meet the demand for that product in your nation. If you are an entrepreneur and you are keen to expand globally then there is no better thing to initiate than export import businesses.
Export import trading is one of the quickest growing fields that entrepreneurs are getting involved in because small money is required to initiate and continue the business. Remember that there are literally millions of items out there that people desire and want and they will buy those items at a significant mark up. By being smart and appropriately managing the products that you trade, you can simply turn an export import firm into a great business opportunity.

How does exporting importing work?
Well, let’s have a glance at some of the methods that you can consider to get into a great business opportunity:

Discover perfect markets - Let’s say you come across an item like specialized body kits for a particular car. You make out that there’s a big fan club for this car but you haven’t observed any of these body kits in that region, then there is an opportunity to sell it in that market.

Discover the geographical requirements - Remember that not all exporting is just nation to nation. You can also trade products between states. So pay consideration to what products people around you or people abroad are demanding and try to discover a provider for those products. Keeping your ears and eyes open can truly help you out to capitalize on demand.

Discover what other countries need - Export Import is not just about trading from other parts and distributing those goods in your region. You can also discover items that others require that may be produced in your region at a very competitive cost. You can start shipping those items abroad. Again, it is all about canvassing marketplace to discover what people are looking for.

Export Import is one of the greatest business opportunities. It is simple to establish and for the most part often only needs you to effectively manage your customers and manufacturers, without even having to actually receiving the products. All you have to do is control the distributors and those that desire to buy them.

Five Tips For Enhancing Your Thailand Export-import Business

2010-01-05T04:48:00.000-08:00

Thailand. It is a kingdom of great culture and tradition. Bordered on the north by Laos and Burma, and to the east by Cambodia, it is the fiftieth largest country in the world. It is a place of great possibilities for a trader looking to enhance his Thailand export-import business.
Known for both its mountainous landscapes in the North and the tropical climates of Promthep Cape, Thailand is a haven of beauty, and a place of many possibilities. With an emerging economy and a large population (the twentieth largest), you as a trader can make a large splash in the Thailand export-import market.

Here are five tips for getting started:

1. Pay attention to the Thailand market. Did you know that Thailand's annual exports total around $105 billion? One of their biggest export products is rice. These are the types of considerations you must make when selecting product and starting your own Thailand export-import business. No matter which country you are operating from, it always pays dividends to be educated, both figuratively and literally.

2. Pay attention to Thailand sports. With Muay Thai its national sport, Thailand is a country that values contact and competition. Rugby is also a growing force in the Thailand sporting world. Why does that matter to the Thailand export-import businessman? Because by knowing what interests your potential customers, you can make better decisions when it comes to which products you should sell.

3. Pay attention to Thailand culture. India, China, and Cambodia, are heavy influences in Thailand culture, due to the closeness of the lands and the people. Pastimes, hobbies, and religions, are great places to get started. For example, kite flying is a major hobby in Thailand culture. So why not test the waters on a new line of handmade or custom designed kites. Ask yourself what products are viable to the interest in question, and then check with your government, embassy, or consulate to see if there are any licensing requirements or restrictions you should be aware of.

4. Pay attention to the business. It always helps to get involved closely with a network of others who know what they are doing. Start with the consulate or the embassy for the country where you wish to do business. There, you will find a number of helpful resources such as manufacturer lists, catalogues, and the industries where there is need.

5. Be a businessman. It is not enough to acquire information. You must get into the day-to-day workings of the business and be responsible for its upkeep. In addition to doing the research that is needed for you to get started, you should maximize your efficiency on the job. As a businessman, you will have to make tough decisions with regards to shipping, customs navigation, and, if necessary, outsourcing. Outsourcing to customs brokers and freight forwarders can save you tons of time, money, and trouble in the long run.

Of course, these are just simple tips. To make your Thailand export-import business a reality, you should get into the nuts and bolts. Pick a product and do what it takes to deliver!

Trade With India -special Economic Zones Fuelling India’s Export Growth Graph

2010-01-05T04:15:00.000-08:00

Indian Trade Exports have received a radical boost in the recent years, thanks to the 274 Special Economic Zones (SEZs) operational on the Indian soil, since April 2000. In the fiscal year 2007-2008, India’s exports from the functional SEZs, were up 92 percent at Rs, 66, 638 against Rs. 34, 615 in the previous year.

Exports from the functioning SEZs during the last five years

Year Exports (Rs. Crores) Growth rate of exports
2003-2004 13,854 39%
2004-2005 18,314 32%
2005-2006 22,840 25%
2006-2007 34,615 52%
2007-2008 66,638 92%

Clearly, SEZs have emerged as the key that have opened new door of opportunities for foreign players to Trade with India. They have emerged as one of the strongest pillars contributing to India’s Export growth.

SEZ- Overall Scenario

India was one among the foremost Asian countries that toyed with the idea of setting up an Export Processing Zone (EPZ) model to promote Indian exports. The idea translated into realty in 1965, with the first EPZ being launched in Kandla. However, in an attempt to further smoothen the roads for MNCs to trade with India, a need was felt to flaunt something new, precisely a zone that will make up for all the missing elements that came in the way, while promoting Indian exports, be it, stifling controls and clearances, under- rated infrastructure facilities and a oscillating fiscal regime and so forth. All this negative factors influenced the announcement of Special Economic Zones Policy in April 2000.

The principal objective of the policy was to promote SEZs as a prime driver for economic growth, by factoring in aspects such as, quality infrastructure coupled with compelling fiscal packages, and bare minimum regulations.

Broadly speaking, the objectives for launching SEZs in April 2000 are as follows:

• to promote trade with India, especially exports of goods and services

• to create more economic activity

• to attract investment from domestic and foreign sources

• to generate more employment opportunities

• to develop modern infrastructure facilities

Special Economic Zones can be defined as a specific region that has economic laws that are more flexible than a country’s usual economic laws. SEZs are a living roof of the potential of export-led growth strategy in propelling a nation’s into higher growth plane.

The Indian SEZ policies promote establishing of these zones in the government, private or joint sector. This policies offer brilliant opportunities, inviting both Indian and International foreign players to set up operations in India for manufacturing of goods and services. The units set up in the zone, need to be foreign exchange earners but will be free from any value addition or minimum export promotion requirements.

The Government of India has converted around eight EPZs into SEZs, to attract foreign players to trade with India. This include, Kandla and Surat (Gujarat), Cochin (Kerala), Santa Cruz (Mumbai-Maharashtra), Falta (West Bengal), Madras (Tamil Nadu), Visakhapatnam (Andhra Pradesh) and Noida (Uttar Pradesh). Additionally, three new Special Economic Zones have started functioning, this include, Indore (Madhya Pradesh), Manikanchan - Salt Lake (Kolkata) and Jaipur.