Officials said India’s proposed ship-sharing deal could be discussed at the meeting, which comes as exporters see rising air and sea freight rates due to conflict in West Asia. Ta.
“Industry has raised the alarm on trade-related issues such as taxation, and these will be discussed at the meeting,” the official said.
India’s exports of manufactured goods fell for the second straight month, falling 9.3% in August, the lowest level in 13 months. Traders blame rising transportation costs, China’s economic slowdown and recessionary trends in Western countries.
Issues related to tonnage tax, certification requirements for cargo remittances, container availability, goods and services tax in the maritime sector, etc. are likely to be discussed.
Traders are facing concerns such as container shortages, rising sea freight and transportation costs, transit delays at Indian ports, turnaround times at ports, and the impact of geopolitical uncertainties such as the Red Sea crisis that are impacting exports. are facing challenges. India last month decided to reduce certain charges at ports and purchase five additional used container ships by the Shipping Corporation of India to resolve maritime sector-related issues for traders and boost exports.
