Business Standard

Freight hike may wipe out 1 month of exports in current fiscal: Firms

Shortage of containers, faceless assessment causing delay

exports, ships
Premium

Exporters fear cancellation of orders ahead of the holiday season due to India’s inability to fulfil export orders

Dilasha SethAditi Divekar New Delhi | Mumbai
Exporters fear cancellation of orders ahead of the holiday season due to India’s inability to fulfil export orders on account of unavailability of shipping containers and an almost 60 per cent hike in freight cost since July.

Currently facing a 20-day delay in shipments, the apex exporters body has estimated that the current delays could wipe out nearly a month’s worth of the country’s exports in the current fiscal year. Besides, the roll-out of faceless assessment in Customs to end physical interface is causing further delay in clearance of consignments.

The shortage of containers is being attributed to a sharp

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 22 2020 | 9:08 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com