Tuticorin Custom House (TCH) has witnessed a phenomenal growth in import of cargo in the recently-ended fiscal. With the logistic support of V.O. Chidambaranar seaport, it has surpassed the revenue fiscal target.
The TCH has achieved a revenue of Rs.2,113 crore, exceeding the target of Rs.2,095 crore set for 2014-15, according to Commissioner of Customs P.V. Subba Rao. It is 18.12 per cent higher than the previous year’s achievement.
Demand for coal
While large quantities of copper concentrate were being imported by Sterlite Industries’ copper smelter in Tuticorin, coal had also become a much sought-after import commodity since new thermal power plants had started production, Mr. Rao said here on Friday.
On a daily average, 1,000 shipping bills related to export consignments and 150 bills of entry regarding import consignments were being accounted in the Custom House. Speaking to The Hindu , he said that during 2014-15 a total of 40,588 bills of entry were filed, surpassing the 37,299 bills filed the previous fiscal, with an increase of 8.88 percent.
As for import cargo, shipments of 2,13,749 Twenty-Foot Equivalent Units (TEUs) were made during 2014-15, whereas they were 1,94,684 TEUs in the previous fiscal. With this performance, it had achieved an increase of 9.79 per cent over 2013-14.
Exports rise
Exports also witnessed an increasing trend. Shipping bills numbering 2,65,097 were filed by exporters in 2014-15, an increase of 7.21 per cent, whereas they were 2,47,257 in 2013-14.
As for export shipments, 3,00,854 TEUs were accounted in 2014-15 with 4.72 per cent increase over the previous fiscal, which recorded shipments of 2,87,283 TEUs.
Around 600 drawback claims on an average a day were being settled to exporters. Drawback of Rs. 774 crore had so far been paid to exporters in this current fiscal, the Commissioner said.
P.S.S.K. Raja Sankaralingam, president, All India Chamber of Commerce and Industries, said a liberalised import regime and clear policy directions such as Merchandise Exports from Indian Scheme (MEIS) contributed to the growth of trade.
“A liberalised import regime and clear policy directions such as Merchandise Exports from Indian Scheme contributed to the growth”
