Home |Sitemap |FAQs |Contact Us
Product Country
Increase Font Size Decrease Font Size
Menu
Market News
 
CBIC, Finance Ministry working together to ensure faster release of export cargoes.
Oct 21, 2022

India's finance ministry is reportedly working with the Central Board of Indirect Taxes and Customs (CBIC) to integrate Customs systems to ensure faster clearance.
 
CBIC Chairman Vivek Johri said the department is working on web registration of exports, which would reduce the average release time of consignments/cargoes from ports and airports.
 
'You are familiar with single window in import side. We are trying to introduce something similar in the export side. There are export consignments that require regulatory intervention, say drug controller, other agencies,' Johri said.
 
In essence, the departments are attempting to reduce the time between shipments landing in India's ports and reaching their final destination.
 
'We are trying to integrate Customs ICEGATE with these agencies. This will further compress time taken to release export consignments,' he added.
 
He said the average release time, which is measured by the time of arrival of goods to the port and their actual departure, of export cargo has been halved.
 
The Trade Facilitation Action Plan, which ends in 2023, has set a target of average release time of 24 hours and 12 hours for exports through sea port and airport, respectively.
 
'There is need for further compression in release time taken by regulatory agencies... The target is quite steep... We are very consciously working on reducing the average release time,' Johri said while addressing the CII National Exports Summit.
 
Johri said there is a need to share real time information with exporters, such as the time when the vessel is docking at port for taking the consignment, which will also help cut down on the time to release export consignments.
    
economictimes.indiatimes.com

Archive
 

Trade Leads

Directory's

APEDA Agri Exchange

News & Analysis

Contact

  • Agricultural and Processed Food Products Export Development Authority (APEDA)
    (Ministry of Commerce & Industry, Govt. of India)

  • NCUI Building 3, Siri Institutional Area, August Kranti Marg, New Delhi - 110 016
    Phone : 91-11-41486013, 20863919, 20867008, 20867007