TVS Motors shuts plant in Indonesia
In compliance with the advisory issued local authorities in Karawang, Indonesia the management of PT TVS Motor has decided to suspend production activities temporarily. The manufacturing unit shutdown is effective from April 1-12 as a prevention measure against the spread of COVID-19.
Foreign Trade Policy now extended till March 2021
India’s existing Foreign Trade Policy (2015-2020), which was set to expire in March 2020 has be extended for another year till March 2021. With the extension, Export Promotion and other similar schemes will be applicable for the next 12 months.
The validity for importing under various duty-free import authorisations which was to expire by July 31, will be extended for another six months from the date of expiry. Amid the COVID-19 outbreak, India remains under a lockdown, which has impacted trades.
Wunshan Al product sales up by 6.7pc in 2019
Chinese aluminium producer Wunshan New Materials sold 125,600mt of aluminium plates and strips in 2019, up by 6.7pc from the previous year. The company also sold 1.1mn mt of electronic aluminium foil last year, up by 292.7pc and 12,400mt of aseptic-coated aluminium foil, up by 18.4pc from the previous year. Wunshan’s Anhui Mexin project is expected to add 72,000mt of electronic aluminium foil capacity in 2020.