Govt depts to join hands to push exports

By: | Updated: March 23, 2016 1:05 AM

The government has decided to undertake a joint exercise, involving officials from different ministries, to expedite various clearances required for trade...

The government has decided to undertake a joint exercise, involving officials from different ministries, to expedite various clearances required for trade amid concerns that the country’s export competitiveness has been severely undermined by procedural delays.

The proposed exercise will be undertaken jointly by the departments of shipping and revenue, and the department of commerce will also keep a vigil, a senior government official told FE. A reporting system on delays for clearances, particularly at large ports and for important trade segments including auto components and electrical machinery, would soon be put in place so that the process can be tracked regularly and delays at every stage can be addressed quickly, he added.

The decision was taken at a meeting chaired by commerce secretary Rita Teaotia this month, which was attended by senior officials from the ministries of finance, commerce, shipping, railways and aviation, the sources added.

India’s merchandise exports plunged 16.7% to $238.41 billion during the April-February period.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition