Customs & Post move forward with exchange of Electronic Advance Data

BRUSSELS: Under the auspices of the SECUREX Project, the WCO and the UPU conducted a joint national technical assistance mission to India recently to review the progress and provide them further assistance with the implementation of electronic advance data (EAD) between Customs and Post.

This joint WCO-UPU technical assistance mission was aimed at strengthening the existing cooperative relationship between India Customs and Post and further enhancing digital solutions for information exchange between them for effective risk-management and improved Customs-postal clearance processes.

Based on the current national situation, experts from the WCO and the UPU guided the participants through all the steps and associated processes for the initiation, establishment, testing and launch of the EAD exchange mechanism. In this context, legal and regulatory frameworks, cooperation arrangements, business processes, technical specifications and IT systems, as well as associated WCO and UPU instruments, standards, and tools were examined and discussed. Over 50 participants from India Customs and Post benefited from the mission.

During the mission, the WCO and UPU experts, through detailed face-to-face interactions with Postal and Customs officials, as well as field studies, carried out a thorough diagnostics of the current situation with regard to the progress under the project and reviewed ongoing preparedness, in particular the IT preparedness for the electronic interface between Customs Declaration Systems (CDS) currently being tested by India Post and Customs EDI system.

Additionally, participants deepened their knowledge on practical aspects of the data capture, processing, transmission and use for effective risk management and service delivery, along with related best practices and case studies. Key issues relating to the establishment of Data Sharing Agreements (DSAs) with other designated operators were also discussed.

India Post has already been accredited as an Authorized Economic Operator (AEO). Indian Customs and Post acknowledged the need for enhancing postal chain security through a harmonized implementation of the WCO SAFE Framework of Standards and the UPU Security Standards (S58 and S59), as well as taking tangible steps for enhancing compliance to AEO requirements and enjoying AEO benefits.

Currently, India is testing the CDS and exploring its interface with Customs EDI system and eventually with Single Window Interface for Facilitating Trade (SWIFT) - Indian Customs Single Window. Based on the standards, tools and best practices, India Post and Customs have outlined a broad action plan 2020
to exchange advance electronic data on inbound and outbound postal items, once the CDS goes into the full production phase and they start receiving advance electronic data from origin posts, said a WCO release.

India to import more from US : Prime Minister Narendra Modi

BIARRITZ: Prime Minister Narendra Modi recently informed President Donald Trump that India plans to further step up imports, including oil, from the US and that USD 4 billion worth of imports were already "in the pipeline", as the two countries sought to overcome their differences on tariffs and market access. 

The Modi-Trump meeting assumes significance in the wake of the strain that has popped up in the bilateral relationship on a host of trade and economic issues. 

Meeting on the sidelines of the G7 Summit in the French city of Biarritz, where India was a special invitee, Modi and Trump agreed that preferably before the Prime Minister visits US next month, there will be an interaction between their Trade Ministers at which "the whole range of trade issues will be discussed," Foreign Secretary Vijay Gokhale said. India's exports to the US in 2017-18 stood at USD 47.9 billion, while imports were at USD 26.7 billion. 

The trade balance is in favour of India.  The Foreign Secretary described the bilateral meeting between Modi and Trump as a very positive one.

DP World, UAE Region and Jafza unlocking potential in New Markets for Indian Exports

DUBAI: DP World, UAE Region, the leading trade enabler, and Jebel Ali Free Zone (Jafza) showcased their capabilities and offerings at the FoodPro exhibition and conference organised by the Confederation of Indian Industry (CII) in Chennai to support and facilitate Indian Food & Beverage (F&B) exports.

 

The DP World team engaged with F&B companies looking to expand their businesses outside of India and familiarised them with strategic solutions on offer, including plug-and-play platforms, end-to-end supply chain solutions, value-added services, and an investment platform.

With bilateral trade between India and the UAE surpassing $60 billion in 2018 and poised to grow exponentially, the economic relationship between the countries has strengthened. India is now the second-largest trading partner of the UAE behind China. In support of this activity, Jebel Ali Port and Jafza provide a Multimodal trade, logistics, and industrial hub that further enhances the facility’s role as India’s gateway to the world by facilitating F&B exports and opening new markets for Indian traders. The Jebel Ali hub is the preferred commercial gateway to a region of 3.5 billion people. This access sustains Dubai’s position as the largest re-export centre for food products, catering to a vast import-dependent region from the GCC to the Middle East and North Africa (MENA), East Africa and Subcontinent markets.

 

Complementing the port facility is Jafza’s dedicated food and beverage cluster, spreading over 1.2 million square metres, and including 467 businesses from 66 countries, employing more than 5,880 people. Jafza also offers industry-specific value-added services, including packaging, storage, bagging and sorting, stuffing, palletising, and transportation.

The Free Zone also provides bonded and non-bonded zones supporting farm-to-shelf supply chain activities, common user facilities for tea and coffee trading and processing as well as sugar, grains, pulses, meat, edible oil, seeds, and other ready-to-consume food items. It is also home to the world’s largest port-based sugar refinery.

 

Mohammed Al Muallem, CEO and Managing Director, DP World, UAE Region and CEO of Jafza, said: “We aim to reach out to Indian businesses seeking new markets internationally, especially from the F&B sector. The India-UAE Bridge synergies between DP World, UAE Region and India and the ports and logistics capabilities in both countries enable us to offer integrated supply chain solutions to businesses through our unique end-to-end solutions. 

 

We deliver the most productive, efficient and safe trading solutions by thinking ahead, foreseeing change and innovation.

“The India-UAE Bridge is a mutually beneficial initiative. India is the UAE’s second-largest trade partner, and as the region’s leading trade enabler, we are keen to sustain and build on our excellent partnership and create a relationship that will allow both our countries to prosper. Our flagship facilities, Jebel Ali Port and Jafza, are well-positioned to integrate our assets, providing the best-in-class business and logistics support to Indian companies operating in Jafza.”

APL to enhance Asia Australia Express 1 & 2 Services

SINGAPORE: APL, part of the CMA CGM Group, has announced enhancements to its existing Asia Australia Express 1 (AAX1) and Asia Australia Express 2 (AAX2) services, which will be effective from the 23rd and 24th of October.

 

The revised weekly services will further strengthen connectivity between Southeast Asia and Australia. AAX1 will add two port calls at Laem Chabang and Tanjung Pelapas to facilitate the movement of shipments from Thailand and Malaysia to the Australian main ports. AAX2 will offer extended market coverage across Australia through additional port calls at Melbourne, Adelaide and Fremantle.

 

The first sailing of the enhanced AAX1 service will depart from Laem Chabang on 24 October with the following port rotation: Laem Chabang – Tanjung Pelapas – Singapore – Port Klang – Fremantle – Adelaide – Melbourne – Sydney – Brisbane – Singapore – Port Klang – Tanjung Pelapas – Laem Chabang.

 

The revised AAX2 service will begin sailing from Tanjung Pelepas on 23 October with the following port rotation: Tanjung Pelapas – Port Klang – Singapore – Brisbane – Sydney – Melbourne – Adelaide – Fremantle – Jarkarta – Tanjung Pelapas.

xports should be 1/3rd of USD 5-trillion economy: Pranab Mukherjee August 28 , 2019

NEW DELHI: Former President Pranab Mukherjee recently said exports should constitute one-third of the Government’s ambitious USD five-trillion economy aim. 

 

Mukherjee also said the ongoing trade war between the US and China should give Indian exporters a chance to increase volumes.

“One third of that (USD five-trillion economy target) must come from International Trade. The fight between the two giants (US and China) does give Indian exporters a ray of hope. But, that will be for a short while,” the Bharat Ratna said at a Federation of Indian Export Organisations event.

 

Mukherjee, however, said the increase in exports from India should come from the inherent strength of the economy, not from external circumstances.

 

The Former Finance Minister said that India had long followed the policy of import substitution, which was later “correctly” transformed into that of export promotion. This shift led to higher exports, he said.

 

Commenting on Eastern India, Mukherjee said it will have to be the growth engine of the Country, and called for higher contribution of the manufacturing sector in the overall GDP. Earlier he had said the Government’s target of becoming a USD 5-trillion economy by 2024-25 is possible through prudent fiscal management.

FIEO welcomes initiatives taken by Finance Minister to propel economy

NEW DELHI: Welcoming the slew of measures announced by the Hon'ble Finance Minister, Ms Nirmala Sitharaman; Mr Sharad Kumar Saraf said that announcements made by the Government is aimed at investment stimulus, demand stimulus, Ease of Doing Business and recognition to wealth creators. Besides the roll back of the higher tax on foreign investors and the release of funds to recapitalise public sector banks will go a long-way in easing liquidity and further giving a much needed boost to the economy in such challenging times added Mr Saraf.

Further simplifying the GST system, the Government announced that all pending GST returns for MSME till now will be sorted out in 30 days with future refunds in 60 days. 

This initiative of the Government will further help the trade and industry to overcome their problem of liquidity and capital requirements said Mr Sharad Kumar Saraf.

FIEO President added that recapitalising of banks by Rs 70,000 crore upfront as additional lending and liquidity along with banks being asked to pass on rate cuts through MCLR reduction to further make Rs 5 lakh crore available for credit expansion will further help in creation of liquidity into the system.

The reforms and measures to revive economic growth in such challenging times shows the commitment of the Government under the dynamic leadership of the Prime Minister on a road map for New India based on inclusive growth.

FIEO sees strong flow of exports from Eastern India August 27 , 2019

NEW DELHI: The Federation of Indian Export Organisations (FIEO) has said it is expecting a strong flow of exports from Eastern India, especially in the iron and steel sector.

Gems and jewellery, iron and steel, petroleum and marine products occupied some of the top segments with regards to exports from West Bengal, said a statement from the exporters' body.

"We are continuing to endeavour to seek fresh contacts with newer and upcoming markets with import demand so that it can boost export prospects of our members and others to add to the country's foreign exchange", FIEO Eastern Region Chairman Sushil Patwari said.

In the Indian economy, the exports contribute substantially to the country's GDP, he said.

India's GDP in 2018-19 stood at USD 2.7 trillion and during the year, the Country's export of goods touched an all time high of USD 331 billion and USD 204 billion in services, the statement said. On an average, the exports contributed about 20 per cent to India's GDP for the financial year 2018-19, it said