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MIP levied on cashew kernels not appropriate for units in SEZs, EoUs: DGFT

NEW DELHI: The minimum import cost levied on cashew kernels aren’t appropriate for units in special economic zones (SEZs) and export oriented units (EoUs), according to a trade note of this directorate general of international trade (DGFT). In June this past year, the directorate, under the trade ministry, had radically increased the minimum import price (MIP) for broken and whole cashew to Rs 680 each Kg from Rs 288 per watt.

Likewise for entire cashew, it had been improved to Rs 720 per kg from Rs 400 per pound before.

Under these costs, imports of this commodity is illegal.

At a commerce note, the directorate said it’s obtained testimonials from importers looking for clarification about program of MIP on import of cashew kernels from SEZ or even EoU units.

“The matter was examined within this directorate. It’s explained that MIP on cashew kernels isn’t appropriate for imports by 100 percent EoUs and components in the SEZs,” Deputy Director General of Foreign Trade Gagandeep Singh has stated in the note.

SEZs and EoUs are designed as export hubs in the nation. Raw materials imported by components in such types are used for export purposes.
The creation and import of raw cashew is about 8 lakh tonne and 9 lakh tonne, respectively.

Indian cashew kernels are well recognized and favored world famous for its quality, taste, tradition and dedication to provide, in comparison to other sources.
RR SHWSHW

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Laura Price

Laura Price

Laura is the senior writer and Smartphones section editor responsible for managing software updates and smartphones section. She is very passionate about Gadgets & Technology and always looking around to use them in an innovative way in daily life. She reviews Gadgets & Applications to tell users about their optimum use to get the most out of in which they’ve put their time and hard earned money.
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