Page 5 - Exim Matters
What RBI could do to help exporters
Last week, the Reserve Bank of India's (RBI) monetary policy report said global economic activity had slackened further and international trade remains subdued, while downside risks had increased. Weak demand and soft commodity prices have rekindled fear of deflation in some key advanced economies, prompting renewed divergence in monetary policy stances. With fragile domestic fundamentals, emerging market economies remain vulnerable to swings in market sentiment and capital outflow, said the report.However, RBI took no specific steps to help exporters in such a difficult situation. Perhaps it feels enough has been done already by extending the interest equalisation scheme on pre-shipment and post-shipment rupee export credit for five years, with effect from April 2015, for micro, small and medium enterprises, and 416 tariff lines.The contraction in merchandise exports ease to a single digit on a year-on-year basis in the March quarter. Net export turned to a positive 0.1 per cent, fall
Another round of wordy ambiguity
Reversal of credit will not be required for service by way of transportation of goods by a vessel from the customs station of clearance in India to a place outside
Easing norms for exim trade
The single window would provide the importers/exporters a single point interface for customs clearance of import and export goods
 "Easing norms for exim trade")
Recent changes for exim traders
The Bill also proposes to remove from the negative list any services by way of transportation of goods by an aircraft or a vessel from a place outside India up to the Customs station of clearance here