The IHS Markit India Services Business Activity Index recorded 49.3 in March, down from February's 85-month high of 57.5. A reading above 50 indicates expansion, while a figure below signals contraction. Last month’s data were collected between March 12-27.
The government has asked food industry players to ramp-up production of food products to avoid any supply side shocks and shortages amid the ongoing nationwide lockdown.
The export of the drug may be allowed on a case-by-case basis, top government officials told ET.
“Among Asian economies, India's duty for respirators is 10% while for China, the rate is 4%,” the multilateral trade watchdog said in a report on worldwide trade in COVID-19 medical products.
Earlier, the exports of these products were allowed without any restrictions. Products under the restricted category mean that an exporter now requires a licence from the DGFT for outbound shipments.
FIEO has asked the government to declare the complete supply chain, including labour required for loading, transport of goods, courier services and port facilities, as essential service. Manufacturer-exporters have sought permission to start manufacturing and fabrication work after completion of the lockdown period.
The peace clause protects a country’s food procurement programmes against WTO action.
The commerce ministry, which is giving final shape to the much-awaited e-commerce policy, is soon expected to provide recommendations related to the governance of data to the Ministry of Electronics and IT (MeitY), which is looking to regulate personal as well as non-personal data.
As per the notification, the validity of various import-linked export schemes such as Duty Free Import Authorisation (DFIA) and Export Promotion Capital Goods (EPCG) have been extended by one year. Under EPCG, exporters can import certain amount of capital goods at zero duty for upgrading technology related with exports while DFIA allows them to import certain goods like sugar at zero duty.
The exports of these products were free earlier but now they require a Shipment Clearance Certificate and after the shipment is made, the exporter will also have to provide a “Health Certificate” consignment wise to the buyer, the Directorate General of Foreign Trade (DGFT) said in a notification on Tuesday.
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