India – India’s Directorate General of Foreign Trade has announced its suspension of the 2015 Pre-Shipment Inspection Certificate (PSIC) rules brought into force on April 1. Instead, shipping practices will continue to fall under pre-April legislation until further notice.
The Indian government is to keep the new rules in abeyance while considering changes, and may consult with industry representatives on its proposals over the coming days. For now, this decision brings ‘relief for foreign suppliers’, says the Bureau of International Recycling (BIR).
The world trade body had warned of the serious negative consequences of India’s policy changes over recent weeks, as had other notable recycling organisations such as the Metal Recycling Association of India (MRAI). The latter predicts that the revised rules – this time introduced with industry involvement – may come into force towards the end of this month.
‘The MRAI, who had just left an 11-hour meeting with India’s Directorate General of Foreign Trade, says it has postponed the effective date for the new rules until May 1, 2015,’ the Institute of Scrap Recycling Industries (ISRI) has noted. Another meeting is scheduled for April 30th, at which point ISRI hopes ‘most of the onerous requirements in the new rule will be eliminated’.
According to the BIR, there will be an ‘opportune’ moment for India’s foreign suppliers and other industry players to discuss the PSIC issue at the forthcoming meeting of the world body’s International Trade Council, to be held on May 19 during the BIR World Convention in Dubai.
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