SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 27 Sep, 2014  

India.Bangladesh.9.Thmb.jpg 'High transaction costs in Indo-Bangla trade a concern '

Border.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
SME Times News Bureau | 15 Dec, 2012

With almost 50 percent of India's trade with Bangladesh going through the land route, Director General of Foreign Trade Anup K. Pujari Friday called for better land customs stations (LCS) management.

"Our mutual trade with Bangladesh has been steadily growing, but transaction costs continue to be our biggest concern. There is an urgent need for better LCS management as bulk of the trade is done through the LCSes," said Pujari.

Participating at a convention on Indo-Bangladesh trade organised by the Calcutta Chamber of Commerce here, Pujari said customs procedures and documentation, and difference in weighment among others, lead to increase in transaction costs.

"There should be a unified weighment system with a single entity being entrusted to carry out the weighing process, which will not only eliminate the difference in weights but will also result in cutting down transportation time," Pujari said.

"Moreover, trucks from India should be allowed to enter Bangladesh to load and unload and vice versa, which will help reduce transportation time as well as costs," he added.

Pujari said that almost 50 percent of the trade with Bangladesh was carried through LCSs. Over 81 percent of imports from Bangladesh and 43 percent of India's export to the country were transacted through land in the last nine months of the current year.

"There is a huge scope for mutual trade to grow and the need of the hour is to simplify and harmonise customs procedures and documentation, develop infrastructure and introduce unified weighing system. 

 
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
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter