Indian government to tackle container shortage
Indian exporters are expectant as the Indian government has extended the deadline for the re-export…Indian exporters are expectant as the Indian government has extended the deadline for the re-export of imported vessels lying at different domestic ports by three months. Duty-free imports of containers are allowed currently with the condition of re-export in the next six months.
According to the government notification, this extension of the timeline for re-export of imported vessels will reduce the export of empty containers from the country on the ground of imposition of import duty thereby increasing the availability of containers for trade. The government has also chalked out several other relief measures that include turning the focus on bulk exports to tackle container shortage. Spaces in ships will be used with optimization ensuring minimum use and unnecessary movement of containers.
There are also talks ongoing with the Ministry of Railways, Shipping, and Road Transport to reduce the turnaround time. Very soon railway wagons will be used in place of containers as per instruction received by the Railways. Transport and Management Assistance Scheme i.e TMA for perishable agro products has also been extended till March of 2022.