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The authorities on Monday introduced imposing export curbs on syringes with speedy impact, a transfer aimed toward discouraging outbound shipments of the product in view of the current Covid-19 pandemic state of affairs.
The directorate normal of overseas commerce (DGFT) in a notification stated it has moved syringes export within the restricted class, beneath which an exporter has to search a licence or authorities permission for the shipments.
“The export of syringes with or with out needles…has been put beneath the restricted class with speedy impact,” it stated.
In 2020-21, the export of syringes stood at USD 45.68 million. It was USD 17.37 million throughout April-July this fiscal.
The process for submission and approval of software for export of syringes will likely be notified individually, the DGFT stated.
In a separate public discover, the DGFT stated the amount of 5,841 tonnes of sugar (uncooked and/or white sugar) to be exported to the European Union (EU) beneath TRQ scheme from October 1, to September 30, 2022 has been notified.
TRQ (Tariff-Rate Quota) is for a quantity of exports that enter the UK at comparatively low tariffs. After the quota is reached, the next tariff applies to the exports.
(Only the headline and movie of this report might have been reworked by the Business Standard employees; the remainder of the content material is auto-generated from a syndicated feed.)
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