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    News
    All› Customs, DGFT & SEZ › Customs, DGFT & SEZ - 2013
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    December 31, 2013
    ASSOCHAM Series of National Seminar on “SERVICE TAX” New Delhi, Chennai & Chandigarh
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    Service tax seminars offering direct clarification from senior tax administrators, covering compliance, cenvat, reverse charge; register with fee.
    ASSOCHAM is organising national seminars in New Delhi, Chennai and Chandigarh to clarify operational service tax issues through direct interaction with senior tax administrators and experts. Sessions will address definition of service, Cenvat Credit Rules, prosecution and arrest powers, negative list and declared services, place of provision, reverse charge mechanism, audits and Point of Taxation issues. Single-day events have specified fees (inclusive of refreshments and lunch), a 10% group discount, mandatory prior registration, payment details and limited seating.
    December 26, 2013
    Coal supplies to Power Projects
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    Coal supply allocation extended for delayed power project units, with additional MoU-based deliveries subject to periodic review.
    Approval continues coal supplies to nine thermal power units delayed in developing linked coal blocks: admissible tapering linkage quantities will be supplied under Fuel Supply Agreements while additional interim quantities will be supplied on Memorandum of Understanding basis subject to availability, limited to the affected period or until block production starts, and subject to annual reviews by the ministries and planning authority.
    December 25, 2013
    Petrapole, Benapole Land Customs Stations to be Operational Seven Days A Week Major Relief to Exporters from Congestion on Bangladesh Border
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    Border trade facilitation: land customs stations to operate daily with extended hours and aligned holidays easing cargo flow.
    Land Customs Stations at Petrapole and Benapole will operate seven days a week with extended Customs hours and aligned weekly holidays to facilitate export cargo movement, permitting trucks to reach the importing country's LCS for discharge. Coordination between Commissioners of Customs and trade stakeholders will address congestion causes-road conditions, traffic, and parking-while construction of an Integrated Check Post at Petrapole aims to upgrade infrastructure and streamline cross-border trade.
    December 23, 2013
    In Order to Protect the Interest of Rubber Growers, The Basic Customs Duty on Natural Rubber has been Iincreased from 20% or Rs 20 Per Kg Whichever is Lower, to 20% or Rs 30 Per Kg Whichever is Lower
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    Increase in basic customs duty on natural rubber to protect growers by curbing import-driven price declines.
    Increase in basic customs duty on natural rubber instituted to protect growers by raising the import charge applicable to imported rubber, thereby seeking to check import driven domestic price declines through amendment of the customs duty schedule via formal notification.
    December 20, 2013
    Allowing continuation of sugar export without quantitative restriction
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    Continuation of sugar export without quantitative restriction signals a stable, long term export policy for agricultural trade.
    The Cabinet Committee on Economic Affairs approved the continuation of sugar export without quantitative restriction due to surplus domestic availability; the decision imposes no financial obligation on the Government and is intended to signal a stable, long term export policy while removing quantitative controls on sugar shipments to facilitate exporter access.
    December 19, 2013
    Reduction in Minimum Export Price (MEP) of Onion to USD 350 PMT
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    Minimum export price reduction for onions restores export competitiveness and helps stabilise domestic market prices.
    Reduction of the Minimum Export Price (MEP) for onions to USD 350 per metric tonne is an IMC determined regulatory adjustment taken to balance domestic supply and export competitiveness. The IMC, constituted under the Cabinet Committee on Prices and chaired by the Joint Secretary, Department of Commerce, sets MEPs by assessing arrivals and modal wholesale prices in key markets. After prior increases to restrict exports during a supply shock, the IMC reduced the MEP in response to improved arrivals and falling wholesale prices to stabilize domestic prices while supporting farmers and making exports more competitive.
    December 18, 2013
    Extension of Time to Sez Developers
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    Extension of validity for SEZ approvals granted to address project delays and adverse business conditions.
    The Board of Approval for SEZs granted discretionary extension of validity of Letters of Approval to SEZ developers after case-by-case consideration of delays attributed to adverse business climate, statutory and state approval delays, environmental clearance delays, weak demand for space, and changes in fiscal incentives. The release records 574 formal approvals, 391 notified SEZs and 175 operational SEZs, and states that 115 developers were granted extensions between 1.4.2012 and 30.11.2013.
    December 18, 2013
    Exports to Emerging Economies
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    Export market diversification via the Focus Market Scheme as European exports recover and US trade remains stable.
    The Government advances export market and product diversification via the Focus Market Scheme targeting Africa, Latin America, CIS and ASEAN; reported exports show stable shipments to the USA while European exports fell in 2012-13 due to global economic slowdown and sovereign debt pressures but improved in 2013-14, with the first seven months of 2013-14 exceeding the corresponding period of the prior year.
    December 18, 2013
    Import of White Poppy Seeds
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    Customs protection for poppy seed cultivators maintained through duty and tariff floor, shaping import costs and valuation.
    The Government protects domestic poppy seed cultivators by imposing an ad valorem customs duty and by prescribing a minimum tariff value for imports; these concurrent measures raise the cost of imported white poppy seeds and establish a valuation floor for tariff assessment. The Ministry reports current applied rates and records recent import quantities and values, with the latest year-to-date figures marked provisional.
    December 18, 2013
    Mid-Quarter Monetary Policy Review: December 2013
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    Monetary policy stance: repo rate unchanged, conditional intervention if persistent headline inflation or food-price pass-through continues.
    The Reserve Bank left the policy repo rate and cash reserve ratio unchanged while underscoring a data-dependent, conditional policy stance to address persistent headline inflation driven chiefly by food and housing components. Liquidity management measures-term repos, swap facilities and targeted refinance lines including support for small industry finance-were used to ensure credit flow. The Bank noted improving external resilience from swap inflows and narrower trade deficits but warned that if food-price moderation and other disinflationary signals do not materially reduce headline inflation or inflation excluding food and fuel, it will act, including on off-policy dates, to stabilise inflation expectations.
    December 17, 2013
    Per-Capita Income
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    Per Capita Income measures combine investment, manufacturing policy and inflation controls to protect and raise household incomes.
    Per Capita Income is to be increased through coordinated growth and income-support policies: investment facilitation, infrastructure financing, FDI liberalisation, financial sector and fiscal reforms, implementation of a National Manufacturing Policy, and employment and rural development schemes; concurrently inflation-control measures - monetary tightening, fiscal consolidation, trade and supply interventions, commodity controls and targeted foodgrain distribution - are employed to stabilise prices and protect real incomes.
    December 17, 2013
    Statement of Shri Anand Sharma, Minister of Commerce and Industry in Parliament on the 9th Ministerial Conference of WTO at Bali
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    Public stockholding protection: interim WTO mechanism preserves developing countries' flexibility for food security and procurement policies.
    India contested treatment of procurement for public stockholding under the WTO Agreement on Agriculture, arguing that administered price purchases from subsistence farmers should not be treated as unlawful support given the outdated reference price calculation. Through coalition building, India secured an interim protection from WTO challenges for public stockholding programmes for food security until a permanent solution is negotiated, insisted this protection be non country specific and enduring until a permanent agreement is reached, and obtained commitment by Members to continue work toward a permanent solution.
    December 13, 2013
    Impact of Price Rise on Savings
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    Inflation-indexed bonds proposed to protect household savings from inflation and promote channeling into financial instruments.
    Household gross domestic savings rose in absolute terms but declined as a share of GDP due to high inflation reducing real returns; the Government has used fiscal, administrative and monetary measures-including trade and tariff adjustments, stock limits, suspension of certain futures trading, targeted domestic food allocations, the RBI's anti-inflation stance-and proposed inflation indexed bonds to protect savers and channel household savings into financial instruments.
    December 12, 2013
    DRI Asked to Focus on Better Trade Facilitation, Use of Latest Technology and Sharing of Information with Other Intelligence Agencies for Achieving Optimal Results : FM
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    Trade facilitation: DRI urged to adopt modern technology and interagency information sharing to strengthen intelligence outcomes.
    The Finance Minister directed the Directorate of Revenue Intelligence to prioritise trade facilitation by adopting the latest technology for intelligence gathering and analysis, reforming recruitment, training and deployment to obtain suitably skilled personnel, and eliminating silos through active information sharing with other agencies using existing data platforms such as PAN, excise and service-tax registries, capital market depositories and insurance records to improve targeting and investigative effectiveness.
    December 11, 2013
    Long Term Vision on Trade and Commerce
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    Trade policy vision aims to position India in global trade through targeted strategies and export facilitation.
    The government sets a long-term Trade Policy Vision employing a Strategy Paper, Strategic Plan and Foreign Trade Policy to boost export competitiveness through schemes for export infrastructure, market assistance, export risk coverage, and institutional capacity building, while engaging private stakeholders and addressing infrastructure, cost, technology and skill constraints.
    December 11, 2013
    Trade Deficit with China
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    Trade deficit reduction with China through export diversification, market access negotiation, and exporter promotion initiatives.
    Policy to reduce the trade deficit with China focuses on diversifying exports toward manufactured goods, addressing non tariff barriers through market access negotiations at ministerial and technical fora, and promoting exporter engagement in Chinese trade fairs and B2B links. Export promotion schemes such as the Market Access Initiative and Market Development Assistance support these efforts, set against ministerial coordination in a Joint Group and statistical evidence of a large bilateral deficit with a marginal recent decline.
    December 9, 2013
    Trade with African Countries
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    Trade promotion: India targets expanded exports to Africa through sectoral outreach and institutional business engagement.
    India aims to expand bilateral trade with African countries by promoting identified high potential export sectors-transport equipment, pharmaceuticals, machinery, plastics and linoleum, and textiles-using trade promotion events (India Show exhibitions, trade fairs, buyer-seller meets), joint trade committee meetings and bilateral dialogues, supported by the India Africa Forum Summit framework and the India Africa Business Council to advance trade, investment, technology transfer, capacity building and SME development.
    December 9, 2013
    Relaxation of Norms for Sezs
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    Relaxation of SEZ norms permits extended subcontracting to domestic units and eases area requirements to boost investment.
    Amendments to the SEZ Rules relax operational requirements: large manufacturing SEZ units (except gems and jewellery) may subcontract production to the Domestic Tariff Area for up to three years subject to conditions; clarification of asset-transfer norms on unit exit; reduced minimum area requirements, reformed vacancy norms, sectoral broad-banding and a graded minimum land scale for flexibility and optimal land utilisation; and removal of minimum land area for IT/ITES SEZs coupled with graded built-up area requirements based on city IT density.
    December 9, 2013
    Special Economic Zones
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    Extension of SEZ approval validity available where implementation delays arise, with the Board granting extensions after case-by-case review.
    Rule 6(2)(a) of the Special Economic Zones Rules, 2006 fixes a three-year validity for letters of approval to SEZ developers, subject to extension by the Board of Approval on application. Developers requested extensions due to adverse business conditions, statutory or environmental clearance delays, low demand for SEZ space, and changes in fiscal incentives; the Board granted extensions after case-by-case consideration, as reflected in a state-wise tally of approvals extended.
    December 6, 2013
    Administering FEMA - Evolving Challenges (Inaugural address by Shri G Padmanabhan, Executive Director at the Authorised Dealers' Conference at Agra)
    Show AI Summary
    Capital account management: regulatory complexity under FEMA requires consolidation to clarify permissible transactions and authorised persons' duties.
    The regulatory regime under FEMA focuses on facilitating external trade and payments while concentrating regulatory attention on capital account transactions; successive notifications and capital account measures used to manage exchange rate volatility have produced complexity and time inconsistency. Authorised persons bear substantial responsibility to judge transaction permissibility, creating compliance burdens amid frequent amendments. Key issues include clarifying treatment of FDI versus portfolio investment, addressing financial innovation and offshore derivatives (including NDFs), and considering consolidation or a shift toward principle based regulation to provide clearer, predictable rules without compromising stability.

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      Trade Deficit with China

      December 11, 2013

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      With a view to reducing trade deficit with China, efforts are being made to diversify the trade basket with emphasis on manufactured goods. We are also pursuing market access issues to tackle non-tariff barriers in the Chinese market at different fora. At the Ministerial level, we have India-China Joint Group on Economic Relations, Trade, Science and Technology (JEG) where trade related issues are taken up regularly. Indian exporters are encouraged to participate in major trade fairs in China to show–case Indian products in the Chinese market and increase engagement with Chinese companies. Participation of Indian exporters in trade fairs educates the Chinese importers about niche Indian products. Business to Business relations are also encouraged through schemes such as Market Access Initiative (MAI)/Market Development Assistance (MDA) for promoting exports to China.

      During 2012-13, exports to China was US $ 13,579.51 million while imports was to the tune of US $ 52,248.33 million. The trade deficit with China was US $ 38,668.81 million during the period.

      During the current year 2013-14 (P) for the period April-October, exports to China was US$ 7,225.59 million and imports was US$ 30,511.17 million. The trade deficit declined by 2.6% during the above period over the corresponding period last year.

      The information was given by the Minister of State in the Ministry of Commerce and Industry Dr. E.M. Sudarsana Natchiappan in Rajya Sabha today.

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