PremiumNEW DELHI : Further streamlining of cross-border trade procedures is needed for glitch-free experience to businesses, according to Central Board of Indirect Taxes and Customs (CBIC).
In a message posted on its website, the indirect tax authority referred to Prime Minister Narendra Modi’s address to heads of Indian missions abroad earlier this month on boosting India’s exports. CBIC said the strategy given by Modi aims at exports serving as a powerful engine to drive the economy which has gone through a difficult phase since the outbreak of the pandemic.
The tax authority said its elements were stepping up local production, ironing out problems in transportation, and improving logistics, while central and state governments were working closely with exporters for expanding international market for Indian products
“In this connection, it is important for us to further streamline our procedures and ensure that the processes are glitch-free and facilitate exports. There should be no hold-up of export cargo and any process that remains a hurdle for exports should be examined, and where possible, eliminated or streamlined," CBIC chairman Ajit Kumar said in the message. The policy wings of the board should engage with customs houses and investigative agencies to iron out issues, if any, at the earliest, said the message addressed to colleagues.
Streamlining cross-border trade is expected to help in making India a key part of global supply chains and boost the prospects of economic growth. Modi had told the heads of missions in his address that new possibilities are emerging for India to boost exports due to emerging physical, technological and financial connectivity. He also said boosting exports was a key element of the country’s mission of self-reliance.
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