India Inc seeks export ban on key inputs, QCO relief
Industry chamber FICCI has proposed a “temporary export cut, or even a ‘calibrated export ban'” on sulfur and non-essential helium uses until supply conditions stabilize.
There were also proposals for import restrictions for critical raw materials, temporary relaxation of quality certification or standards requirements, or accelerated approvals, especially to enable micro, small and medium-sized enterprises to source materials from alternative countries.
The government is in regular contact with the industry and all other stakeholders to ensure timely response, an official said. The industry has been asked to provide real-time feedback on any concerns regarding materials or inputs that may affect production.
The urgency has increased as India faces headwinds due to high inflation, foreign exchange volatility, rising import bills and widening current account deficit.
FICCI has suggested the government to send Indian flagged ships from Mundra, Pipavav and Nhava Sheva as it will provide a reliable shipping alternative for essential goods when international lines suspend services or impose restrictive surcharges.
“To bypass congested and high-risk major ports, the government must immediately identify and operationalize alternative regional transit hubs as demanded by the dairy and perishable goods industries,” the industrial chamber said in a representation to the ministries of finance, commerce and industry. he said. These could be Khorfakkan Port in the UAE, Sohar Port in Oman and Jeddah Islamic Port in Saudi Arabia.
It was also recommended to create a green channel in these ports, allowing cargo to be transmitted by road or sea without the need for additional customs procedures at the discharge port.
