Government has increased the number of ports from 12 to 14 through which new vehicles can be imported -- a move which would help in reducing pressure on ports and transactions cost of companies.
"Two new customs ports - Kattupalli Port and APM Terminals, Pipavav Port - are being added to the list of 12 existing ports/ICDs (inland container depot), thereby taking the total number of ports/ICDs to 14, for importing new vehicles," Directorate General of Foreign Trade (DGFT) has said in a notification.
New vehicles are imported through eight seaports, three airports -- Mumbai Air Cargo Complex, Delhi Air Cargo, Chennai Airport -- and three ICDs -- Telegaon Pune, Tughlakabad and Faridabad.
The eight seaports include Nhava Sheva, Mumbai, Kolkata, Chennai, Ennore, Cochin and Kattupalli.India, a major hub of automobile manufacturing in the world, mainly imports high-end vehicles and parts.
The number of commercial and passenger vehicles imported into the country is small in number.According to a media report, during the April-November period, 1,210 trucks and buses were imported into India.
Triggered by a sharp increase in production led by grapes, India's exports of fresh fruits jumped by a staggering 40 per cent in the first nine months of the current financ...
Admitting that Indian businesses are facing multiple challenges in overseas markets due to the globally competitive environment, Union Minister Anant Geete today said a lot nee...