RBI Master Direction on export of goods and services states that ECGC claims are not treated as realisation and so, BRC cannot be issued. While writing off bills on the basis of ECGC claims and closing my shipping bill in EDPMS, the bank wants me to surrender export incentives, whereas HBP states that ECGC claims can be considered for claiming export incentives. Under which conditions can ECGC claims be considered for availing export incentives, so that without I can get my shipping bill closed in the EDPMS without surrendering incentives? Para C.24 of the RBI Master Direction no.16/2015-16 dated January 1, 2016 (as amended), deals with write-off in cases of payment of claims by ECGC and private insurance companies regulated by Insurance Regulatory and Development Authority of India. It clearly says that surrender of incentives, if any, in such cases will be as provided in the Foreign Trade Policy (FTP). So, your bankers must proceed in accordance with Para 2.85 of HBP and not dema
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Large sellers are the key for e-comm
Online sales | Large sellers expand the scope of consumer choice - istock×
They source an array of goods from MSMEs. The notion that they hinder small sellers is misplaced
The National E-Commerce Policy has been in the works for the past few years. The policy presents a tremendous opportunity to boost small and medium businesses, facilitate their migration to online channels, and help them expand their reach. A recent study by Nasscom shows that offline and online collaborations will be the mainstay of retail in the next decade. This collaboration is projected to add $640 billion to the retail market by 2030. A progressive policy can help create the right kind of environment to support this kind of growth. Since selling online comes with a unique set of challenges, the e-commerce policy should lay the groundwork for ease of doing business and offsetting costs associated with online sales.
Exports rise record 60.29% to $34.45 billion in March
April 15, 2021
In fiscal 2020-21, exports decline moderately by 7.26 per cent; fall in imports sharper
India s goods exports posted a record monthly growth of 60.29 per cent (year-on-year) to $ 34.45 billion pushed by sectors such as engineering goods, electronics, petroleum products, gems & jewellery, and pharmaceuticals.
In the fiscal year April-March 2021, however, exports declined by 7.26 per cent to $290.63 billion compared to the previous fiscal as Covid-19 disruptions slowed down production and demand worldwide.
Imports during the month increased 53.74 per cent to $48.38 billion, with surges in items such as gold, machinery, chemicals, plastics and electronics, resulting in the trade deficit widening to $13.93 billion compared to $9.98 billion in the previous fiscal, per quick estimates released by the Commerce & Industry Ministry.
Former Deputy Directors-General
Director-General Roberto Azevêdo appointed four Deputy Directors-General in September 2013: Yonov Frederick Agah of Nigeria, Karl Brauner of Germany, David Shark of the United States and Yi Xiaozhun of China. David Shark served until September 2017 while Frederick Agah, Karl Brauner and Yi Xiaozhun remained in office until March 2021. Alan Wolff of the United States served as Deputy Director-General from September 2017 to March 2021.
Four Deputy Directors-General served under Director-General Pascal Lamy from October 2005 to September 2013: Alejandro Jara of Chile, Valentine Sendanyoye Rugwabiza of Rwanda, Harsha Vardhana Singh of India and Rufus H. Yerxa of the United States.
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