Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

India- Govt planning to set up online Single Window system for providing all info, services relating to International Trade  Join our daily free Newsletter

MENAFN - KNN India - 20/03/2017
No. of Ratings : 0
Add to Mixx!

(MENAFN - KNN India)

New Delhi, Mar 20 (KNN) The Government of India is planning to set up an online fully integrated Single Window system for comprehensively providing all information and services to importers & exporters relating to International Trade. The move aims to improve ease of doing business environment in the country.

The single window system will provide all information and services related to EXIM approvals, clearances, trade agreements for import and exports of goods, including those related to accessing benefits under export promotion and export incentive schemes, across regulatory service provision agencies, entities including, but not confined to, Customs, Central Excise/ GST, State VAT/ GST, Central Board of Direct Taxes, Directorate of General Foreign Trade etc.

The proposed single window project would allow importers and exporters the facility to lodge their applications and clearance documents and obtain all necessary approvals and avail benefits electronically at a single point only in a digital paperless mode without any requirement of physical submission.

Required permissions, if any, including port/ shipping carrier from other regulatory agencies would be obtained online without the trader having to approach these agencies.

This would eliminate multiple interface with Government agencies, dwell time, track goods/ delivery from door to door and the cost of doing business.

In this regard, DIPP wants to rope in consulting agency to carry out a detailed study of different functionalities currently provided under the foreign trade umbrella across departments and identify gaps in integration that are found desirable to bridge and recommend specific actionable steps for achieving the proposed integration under single.

DIPP said Doing Business (DB) Report published every year by World Bank assesses and recommended largely on process simplification, weeding out of unnecessary documents, integrating and automating procedures across the Departments/Agencies involved and to minimise human interface, with 24x7 online operations and handling of consignments.

The rank of India out of 189 economies on ‘Trading Across Borders‘ indicator of 'Doing Business' report for 2015, 2016 and 2017 is declining as 126, 144 and 143 respectively.

The ranking on ‘Trading Across Borders‘ indicator is done by the World Bank on the basis of 3 parameters such as number of documentary compliance required for Export/Import; Time taken in the process of Export/Import; and Cost of exporting/importing a consignment.

DIPP said, 'Taking cognizance of India‘s relatively poor ranking in DB 2014 Report, DIPP set up an Inter-Ministerial Committee under the Chairmanship of Director General Foreign Trade (DGFT) in July 2014 to analyse the status of various mandatory documents required for export/import and to give recommendations about possible reduction in their numbers.

The recommendations will not only improve its export related procedures but also import procedures, as a very large part of Indian exports is dependent on imports and therefore higher transaction costs, time and number of documents for import also adversely affect India‘s trade and manufacturing competitiveness, DIPP said.

Further, Union Finance Minister Arun Jaitley in his budget speech spoke about implementing Single Window Project, ―Under this, importers and exporters would lodge their clearance documents at a single point only.

Required permissions, if any, from other regulatory agencies would be obtained online without the trader having to approach these agencies.

This would reduce interface with governmental agencies, dwell time and the cost of doing business. DIPP said, 'Accordingly, Government of India intends to launch ‘Single Window Online System for International Trade‘ to create a strong eco-system in the country by enabling any exporter or importer to avail seamless information and services for international trade of all products. (KNN Bureau)



KNN India

  MENA News Headlines
 Mar 25 2017 - The Organic Pharmacy available in the UAEMENAFN Press
(MENAFN Editorial) ** Celebrity favourite organic skin care range now available at Harvey Nichols Dubai and Dubai Herbal Treatment Centre ** Dubai, March 25, 2017: Those who are fans of ...

 Mar 26 2017 - Saudi Arabia takes steps to boost trade with TIR the global customs transit systemMENAFN Press
(MENAFN Editorial) RIYADH, Kingdom of Saudi Arabia, March 26, 2017/APO/ -- The Kingdom of Saudi Arabia announced today its decision to accede to the global customs transit system for moving goods ...

 Mar 26 2017 - Saudi Campaign distributes school bags to Syrian students in LebanonSaudi Press Agency
(MENAFN - Saudi Press Agency) Beirut, 27 Jumada II,1438 AH, 26 March,2017 , SPA -- Lebanon-based office of Saudi National Campaign to Support Brothers in Syria continues distributing school bags, ...

 Mar 26 2017 - Saudi- King Abdulaziz Camel Festival attracts 28551 visitors on SaturdaySaudi Press Agency
(MENAFN - Saudi Press Agency) Sayahed, Jumada II 27, 1438, March 26, 2017, SPA --King Abdulaziz Camel Festival attracted on Saturday 28551 visitors from citizens, residents and tourists. The ...

 Mar 26 2017 - Saudi Press 2 RiyadhSaudi Press Agency
(MENAFN - Saudi Press Agency) Al-Riyadh and Al-Sharq newspapers commented on Yemen, saying that the operations of Determination Storm and Renewal of Hope have been targeting the putschists from ...

 Mar 26 2017 - Kaaba Corner of Saudi Pavilion attracts hundreds of visitors at Tunisia International Book FairSaudi Press Agency
(MENAFN - Saudi Press Agency) Tunis, 27 Jumada II,1438 AH, 26 March,2017 , SPA -- The corner of the Holy Kaaba's Covering Sewing factory of the Saudi pavilion taking part in Tunisia International ...

 Mar 26 2017 - Morocco- Othmani To Give Press Conference About Government FormationMorocco World News
(MENAFN - Morocco World News) Casablanca- Morocco's Appointed Head of Government, Saad Eddine Othmani, is set to give a press conference on Saturday 25 at 8:30 to inform the public about the latest ...

 Mar 26 2017 - Morocco- Saad Eddine Othmani Announces end of Deadlock, Formation of GovernmentMorocco World News
(MENAFN - Morocco World News) Rabat – Morocco's newly appointed Head of Government, Saad Eddine Othmani announced on Saturday evening the end of the five-long deadlock and the formation of the new ...

 Mar 26 2017 - US-led coalition opens probe into fatal Mosul airstrikeThe Peninsula
(MENAFN - The Peninsula) WASHINGTON: The U.S.-led anti-IS coalition confirmed Friday it has opened a formal investigation into "multiple allegations" that a U.S. airstrike allegedly ...

 Mar 26 2017 - Syrian opposition 'committed to political solution'The Peninsula
(MENAFN - The Peninsula) GENEVA: The head of the Syrian opposition delegation at peace talks in Geneva stressed their commitment to a "political solution" on Friday. UN Special Envoy ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help