: Rules eased for Shisham timberbased item exporters of India #FinanceIndia #StockMarketNEWS Rules eased for Shisham timber-based item exporters of India New Delhi, Nov 21 (KNN) After sustained deliberations

@StockMarketNEWS Tue 22 Nov, 2022

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Rules eased for Shisham timberbased item exporters of India #FinanceIndia #StockMarketNEWS
Rules eased for Shisham timber-based item exporters of India New Delhi, Nov 21 (KNN) After sustained deliberations by Indian representatives at the ongoing Conference of Parties to Convention on International Trade in Endangered Species of wild fauna and flora (CITES), it has been agreed upon that any number of Dalbergia sissoo (Shisham) timber-based items can be exported as a single consignment in a shipment without CITES permits if the weight of each individual item of this consignment is less than 10 kg.

The 19th meeting of the Conference of Parties to CITES is being held in Panama from November 14th to 25th, 2022.

It was agreed that for net weight of each item only timber will be considered and any other item used in the product like metal etc. will be ignored.

This comes as a great relief for the Indian artisans and furniture industry.

Shisham (Dalbergia sissoo) is included in Appendix II of the convention, thereby requiring to follow CITES regulations for the trade of the species.

As of now every consignment of weight above 10 kg requires CITES permit.

Due to this restriction exports of furniture and handicrafts made of Dalbergia sissoo from India has been continuously falling from an estimated Rs 1000 crore per annum before the listing, to Rs 500-600 crore per annum after the listing.

The decrease in exports of Dalbergia sissoo products has affected the livelihoods of around 50,000 artisans who work with the species.

On India’s initiative a proposal to clarify the quantity of Shisham (Dalbergia sissoo) items such as furniture and artefacts was considered in the current meeting. (KNN Bureau)