SME Times is powered by   
Search News
Just in:   • Software industry to see strong revenue growth: PwC  • ICRA Q4 net profit rises 22 percent  • RIL-BP discovers large natural gas in KG-D6  • Jet Airway's shareholders approve Etihad deal  • Russia plans four spacecraft launches in 2014 
Last updated: 08 Aug, 2012  

Accounting.9.Thmb.jpg '24x7 customs clearance will give exporters a boost'

cargo
   Top Stories
» 'Changes in MDA scheme will benefit MSME exporters'
» 'BSE SME exchange likely to list 75 cos by this fiscal'
» PM says high fiscal deficit affecting corporate debt market
» Gems, jewellery exports grow 33 pc to $3.38 bn in April
» ASSOCHAM calls for comprehensive port development strategy
SME Times News Bureau | 08 Aug, 2012

Introduction of 24x7 customs clearance operation would reduce transaction time and cost, and help exporters meet stringent delivery schedule, according to exporters' body  Federation of Export Organisations (FIEO), on Wednesday.

"The exporting community had been requesting for this facility and implementation of the same will greatly help them in clearance of their import-export shipments," said FIEO President M. Rafeeque Ahmed.

However, he demanded that the new  facility should also be extended soon to export consignments other than Factory Stuffed export containers and exports under Free Shipping Bills.    

The Prime Minister's Office (PMO) on Tuesday had announced that customs clearance and other facilities would be provided at four airports: Delhi, Bangalore, Chennai and Mumbai, and four ports: Chennai, Kolkata, Kandla (Gujarat) and Jawaharlal Nehru Port Trust (Mumbai), round-the-clock from Aug 25.

According to the statement, the 24x7 operations would begin on a pilot basis with customs operations along with all other complementary services. Along with customs clearances, other government agencies and private players shall also have to work 24x7 to synchronize with the extended work hours.

The facility would be initially for four months after which efforts would be made to expand similar operations at other locations.

The FIEO Chief added that the move would help improve India's ranking as far as ease of doing business in India is concerned.

"This trade facilitation measure will definitely encourage the exporters and India will be able to achieve the set export target," the FIEO chief added.

One of the major constraints for international trade has been the non-availability of customs clearance and other facilities at airports and seaports round the clock, seven days a week.

Import and export cargo, delivered at a time when clearance facilities are unavailable, have to wait till clearance facilities are open to move on to their destination. At airports and ports, which in any case normally operate round the clock, cargo piles up awaiting clearances.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
55.30
54.35
UK Pound
84.50
82.50
Euro
71.80
70.00
Japanese Yen 54.40 53.00
As on 26 May, 2013
  Daily Poll
Do you think banks will lower lending rates after recent RBI rate cut?
 Yes
 No
 Can't say
  Commented Stories
» Why SMEs fail - keep your eyes open(36)
» MSME schemes - Do you know all of them?(5)
» Banks need to speed up MSME loans under PMEGP: Govt(2)
» PMEGP to assist entrepreneurs financially: Dinesh Rai(1)
» Starting an import export business: Basic guide for beginners(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter