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JNPT THE INDIA'S LARGEST SEAPORT & UPCOMING NAVI MUMBAI'S INTERNATIONAL AIRPORT WILL BE ASIA'S LARGEST INTERNATIONAL AIRPORT

Indian seafood export to pick up Overseas demand has picked up Overseas demand has picked up from last month but as most of the countries have initiated measures to tackle Covid-19, it is still subdued. ``Aggressive demand is not there and the prices have dropped in China and the US markets. In Europe, however, there is 10 to 15% slump in demand,’’ said Jagdish V Fofandi, president of Seafood Exporters Association of India.

According to Spices Board Of India, the Telangana state has exported 59,580 tonnes of the TERMERIC in the first five months of the year which is highest for the same period in the last seven years.  TELANGANA which is the BIGGEST EXPORTER OF TERMERIC and its value added products in the country has about 30% share in the totals export of the commodity.

RBI  RESERVE BANK OF INDIA 

 World's famous spices Market Lalbaugh MUMBAI

Quality Inspection Certificate  The Indian Customs authorities require the inspection certificate issued by the designated agency before permitting the goods for shipment. ... After completion of production, the export worthy unit conducts its own inspection and gives a declaration about the quality  control .

EPCG Export Promotion Capital Goods Scheme What is EPCG Scheme? This is a Scheme which enables an importer (being an export-oriented business) to import capital goods at zero rates of customs duty. However, the scheme is subject to an export value equivalent to 6 times of duty saved on the importation of such capital goods within 6 years from the date of issuance of the authorization. In simple words, there is a compulsion on the business to bring in foreign currency which is equal to 600 percent of duty saved on such importation measured in domestic currency. This is to be done within six years from availing the Export Promotion Capital Goods scheme, How to obtain an EPCG License? In order to obtain a License under EPCG scheme, it is a primary requirement to file an application with the licensing authority of DGFT   (Director General of Foreign Trade). The application shall be attached with the required documents along with the company and personal details. D...

L.C. THE LETTER OF CREDIT IN EXIM BUSINESS  WE SHOULD ALWAYS ACCEPT IRREVOCABLE L.C.  AND NOT REVOCABLE L.C. The Expiry Date of L.C. should one month later than the delivery date.  What Is a Letter of Credit? A letter of credit, or "credit letter" is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. It may be offered as a facility. Due to the nature of international dealings, including factors such as distance, differing laws in each country, and difficulty in knowing each party personally, the use of letters of credit has become a very important aspect of international trade. Types of a letter of credit The letters of credit can be divided into the following categories: Sight Credit Under this LC, documents are payab...

The ECGC Limited ( Formerly Export Credit Guarantee Corporation of India Ltd ) :                                              ECGC LTD.               The  ECGC Limited  ( Formerly Export Credit Guarantee Corporation of India Ltd )is a company wholly owned by the Government of India based in Mumbai, Maharashtra. [1 It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce. Government of India had initially set up Export Risks Insurance Corporation (ERIC) in July 1957. It was transformed into Export Credit and Guarantee Corporation Limited (ECGC) in 1964 and to Export Credit Guarantee Corporation of India in 1983. Type State-owned enterprise Public Industry Insurance Founded 30 July 1957 Headquarters Mumbai, Maharashtra, India Products Export Cr...

Exim Bank of India  : Represents a rare case of an institution where the concept and need for such an institution had been debated for a long period-more than two decades – before it was finally set up in 1982. The two decades prior to the establishment of Exim Bank witnessed significant changes in the industrial and the trade scenario. Indian exports during the fifties and the early sixties consisted of primary commodities and traditional manufactures like jute and cotton textiles. The dominant viewpoint was that in India’s case, expansion in domestic demand alone could realistically serve as the engine for economic growth, since export expansion opportunities were limited and there were fundamental constraints (like inadequate infrastructure) to export growth. The ideology relating to the manufacturing sector was to promote industrialization through import substitution. As a result, the export sector remained neglected with a small share in India’...

The Mumbai World Trade Centre THE WORLD TRADE CENTRE CUFFE PARADE MUMBAI is a skyscraper built in 1970. It is the first world trade center in India. It consists of two towers, the M. Visvesaraya Industrial Research and Development Centre (MVIRDC)and the IDBI. MVIRDC is also known as Centre 1. At 156 m, it was the tallest building in South Asia until the 2010 completion of The Imperial towers at Tardeo (252 m). It was constructed by the Shapoorji Pallonji Group. WTC Mumbai promotes International trade and Investment through an array of services and facilities. The Centre integrates Indian businesses and international counterparts on a single platform through one to one business networking empowering the business community with skills, rich resources and talent.

The Tea Board of India : It is a state agency of the Government of India established to promote the cultivation, processing, and domestic trade as well as export of tea from India. It was established by the enactment of the Tea Act in 1953 with its headquarters in Kolkata (formerly Calcutta). It is headed by the Deputy Chairman Mr. Arun Kumar Ray, IPS and separated into Standing Committees referred to as the Executive Committee, the Development Committee, the Labour Welfare Committee and the Export Promotion Committee. Tea Board of India Logo of the organisation                                                                                                   Tea Board Head office  T...

PHARMEXIL Pharmaceutical Export Promotion Council of India ( Pharmexcil ) is the authorized agency of the government of India for promotion of pharmaceutical exports from India. It was set up under the provisions of Foreign Trade Policy by the Ministry of Commerce and Industry in May 2004. Various pharmaceutical products, namely, bulk drugs, formulations, Biotech Products, Indian Systems of medicines, herbal products, diagnostics, clinical research, etc. are covered under its purview. Pharmexcil takes up several external trade promotion activities by organizing trade delegations outside India, arranging buyer-seller meetings, international seminars, etc. The agency's headquarters is located in Hyderabad. Present Chairman is Dr Dinesh Dua ,Nectar Life Sciencces Ltd, Late Shri D.B. Mody was the founding Chairman. The Indian pharmaceutical industry has become the third largest producer in the world and is poised to grow into an industry of $ 20 billion in 2...

Cashew Export Promotion Council of India: India is the largest exporter of cashew kernels and cashew nut shell liquid (CNSL). The Cashew Export Promotion Council of India or CEPC or CEPCI was established by the Government of India in 1955, with the active cooperation of the cashew industry with the object of promoting exports of cashew kernels and cashew nut shell liquid from India. It is headquartered in Mundakkal in the city of Kollam, Kerala.The Council serves as an intermediary between importers of cashew kernels and exporters who are members of the council. The council is also supposed to deal with any disputes on exports or imports arising on account of quality standards, breach of contractual obligations, etc. It undertakes numerous activities, such as organizing global buyer-seller meets, organizing studies on the nutritional aspects of cashew and providing support to cashew processors and exporters for improving infrastr...

KHARI BAOLI: ASIA'S LARGEST WHOLESALE SPICES MARKET  While for many of us Delhi might be the hometown, for others the city could have become their foster home. Whether a native or a frequent visitor, everybody claims to know the city inch by inch. However, the real charm of Delhi lies in the fact that one can never know this city completely. Delhi has an array of hidden bijou shops that makes this place mysteriously interesting. One such amazing delight is a small street called Khari Baoli. Not many must be aware of the fact that this small area in Delhi is the largest wholesale spice market of Asia. History Running since 17th century, the Khari Baoli market is nestled near the historic area of old Delhi adjacent to the Fatehpuri Masjid. The Khari Baoli step-well was inaugurated during the reign of Salim Shah, the son of Sher Shah Suri. Fatehpuri Masjid was built in 1650 by Fatehpuri Begum, one of the wives of the Mughal Emperor Shah Jahan. During his reig...

SPICES BOARD INDIA: INDIAN SPICES ARE FAMOUS FROM ANCIENT TIMES FOR THEIR TASTE OF TRADITION IN THE WORLD. Constitution Spices Board was constituted on 26th February 1987 under the Spices Board Act 1986 (No. 10 of 1986) with the merger of the erstwhile Cardamom Board (1968) and Spices Export Promotion Council (1960). Spices Board is one of the five Commodity Boards functioning under the Ministry of Commerce & Industry. It is an autonomous body responsible for the export promotion of the 52 scheduled spices and development of Cardamom (Small & Large). Main Functions Research, Development and Regulation of domestic marketing of Small & Large Cardamom Post-harvest improvement of all spices Promotion of organic production, processing and certification of spices Development of spices in the North East Provision of quality evaluation services Export promotion of all spices through support for:- Technology upgradation. Quality upgradation Brand promot...

" MPEDA " MARINE PRODUCTS EXPORT DEVELOPMENT AUTHORITY About MPEDA The Marine Products Export Development Authority (MPEDA) was set up by an act of Parliament during 1972. The erstwhile Marine Products Export Promotion Council established by the Government of India in September 1961 was converged in to MPEDA on 24th August 1972. MPEDA is given the mandate to promote the marine products industry with special reference to exports from the country. It is envisaged that this organisation would take all actions to develop and augment the resources required for promoting the exports of “all varieties of fishery products known commercially as shrimp, prawn, lobster, crab, fish, shell-fish, other aquatic animals or plants or part thereof and any other products which the authority may, by notification in the Gazette of India, declare to be marine products for the purposes of (the) Act”. The Act empowers MPEDA to regulate exports of marine pr...